Pre-Funded Funeral Arrangements

There are two options available for pre-funding your funeral arrangements.

Revocable Accounts

Your funeral arrangements may be funded in a federally insured burial trust account. These funds accrue interest at a very competitive rate and can be withdrawn at any time by the account owner.

Irrevocable Accounts

Much confusion surrounds the Burial Trust that is setup when a loved one enters a nursing home. An irrevocable trust can be established prior to the exhaustion of personal funds on the cost of nursing home care and may include all funeral-related expenses. Although these funds cannot be withdrawn by the owner until death, they are transferable from funeral home to funeral home. Irrevocable accounts are only required for Medicaid recipients and are mandatory.

Are the Funds Secure?

All pre-need funds are owned by the person for whom services have been arranged. The account is set up in a protected account with the bank in the name of the person as its owner, the Funeral Home is listed as its beneficiary.

The accounts (Revocable or Irrevocable) are regulated by New York State law and the Funeral Home cannot access the account prior to the death of the owner. However, the funds (Revocable Only) are available to the owner at any time.

As an added protection, New York State Law requires that pre-need funds be invested in government backed securities such as, Savings Accounts or Certificates of Deposit.

Finally, because the pre-need account is titled in the name of the owner the financial security of your money is never dependent on the financial well being of our Funeral Home.

To learn more about pre-planning funeral arrangements at Bartolomeo & Perotto, email us at info@bartolomeo.com or call 585-720-6000.