Another popular plan with retirees is a funeral trust. This allows the client to pay for their funeral costs in advance, but retain control over which funeral home they will use in the future. The funeral trusts that our advisors offer are irrevocable and immediately protected from lawsuits, debt collectors, and even Medicaid spenddown rules. These plans usually have little to no medical underwriting which allows easy qualification. Funeral Trust Minimum Deposit = $2,500 Maximum Deposit = $15,000 (depending on state maximums) Allows client to set aside money to cover funeral and other final expenses May be exempt asset under Medicaid guidelines Can help client qualify for Medicaid now Funeral costs paid first, with any excess funds going to the estate of the insured Trust is policy owner and beneficiary Benefits Trust proceeds are income tax free Exempt from probate – funds available immediately! Keep assets safe from creditors Trust is totally free – no annual fees Funds are fully portable – can be used with any funeral home provider Anyone can qualify Funeral provider paid usually within 48 hours