What is the difference in irrevocable and a revocable prefinanced funeral trust?

0
Posted

What is the difference in irrevocable and a revocable prefinanced funeral trust?

0

While this has been touched on in previous questions, generally speaking an irrevocable agreement cannot be refunded prior to death–while a revocable agreement can be refunded. Irrevocable agreements should be used in cases where the individual is going under public assistance of some kind, as the prefinanced funeral agreement (up to a certain amount) does not count as an asset. The maximum amount of an irrevocable trust is $7,000, but this does not include merchandise such as the casket, outer container.

Related Questions