What are the different kinds of Pre-need Agreements?
Revocable Trusts New York State funeral law requires that all funeral pre-arrangements made within New York State be revocable with the exception being those receiving Medicaid or SSI. That means all revocable trusts may be cancelled at any time prior to death and the total balance refunded within ten days of the consumer’s request. Also these trusts may be transferred to another funeral home at any time also upon the request of the consumer. Irrevocable trusts New York State funeral law states that pre-arranged funeral trusts for recipients of Medicaid and SSI by irrevocable. These trusts may not be cancelled or refunded prior to death. Irrevocable trusts may be transferred to another funeral home at any time upon the request of the consumer. Funds may not be withdrawn from the account at tany time. All monies set aside but not used for burial expenses will be turned over to the county in which care was provided. Taxation of Burial Trusts Consumers who set up revocable trusts must pay
