A common form of funding and funeral pre-arrangement is through a funeral trust agreement. This is a contract between the funeral home and an individual for the purpose of pre-arranging a funeral. The agreement specifies who the arrangements are for, what exactly the funeral home will provide at the time of death and how much money the patron paid to the funeral home to provide the arrangements.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
A New Hampshire revocable funeral trust, also known as a prearranged funeral trust account, is a financial arrangement that helps individuals pre-plan and prefund their funeral expenses. It enables them to make choices regarding their funeral arrangements, relieve their loved ones of the financial burden associated with funerals, and ensure the fulfillment of their final wishes. This trust account allows individuals to set aside funds specifically for funeral-related expenses while maintaining control and flexibility over the funds until they are needed. It is revocable, meaning that the account holder can make changes to the trust or withdraw the funds if desired. There are different types of New Hampshire revocable funeral trust accounts, depending on individual preferences and circumstances. Some common variations include: 1. Irrevocable Funeral Trust: Unlike revocable funeral trusts, this type does not allow for changes or withdrawals once the funds are placed in the trust. It is typically used for Medicaid planning or to meet certain eligibility requirements for government assistance programs. 2. Family Revocable Trust: This type of trust allows multiple family members to contribute to a single trust account, pooling their resources to cover future funeral expenses collectively. 3. Joint Revocable Trust: This trust account is meant for couples or partners who wish to plan and fund their funeral expenses together. It ensures that both parties' wishes are considered and that sufficient funds are available to fulfill their funeral arrangements. 4. Funding Options: New Hampshire revocable funeral trusts can be funded in various ways, including by lump-sum deposits, periodic contributions, life insurance policies, or the use of existing assets like stocks, bonds, or real estate. 5. Funeral Home Trusts: Some funeral homes in New Hampshire offer their proprietary revocable funeral trust accounts. These trusts are specifically designed to work in conjunction with the services and offerings provided by the funeral home. Regardless of the specific type, a New Hampshire revocable funeral trust — prearranged funeral trust account provides individuals with peace of mind knowing that their funeral expenses are taken care of, allowing their loved ones to focus on grieving and honoring their memory rather than financial arrangements.A New Hampshire revocable funeral trust, also known as a prearranged funeral trust account, is a financial arrangement that helps individuals pre-plan and prefund their funeral expenses. It enables them to make choices regarding their funeral arrangements, relieve their loved ones of the financial burden associated with funerals, and ensure the fulfillment of their final wishes. This trust account allows individuals to set aside funds specifically for funeral-related expenses while maintaining control and flexibility over the funds until they are needed. It is revocable, meaning that the account holder can make changes to the trust or withdraw the funds if desired. There are different types of New Hampshire revocable funeral trust accounts, depending on individual preferences and circumstances. Some common variations include: 1. Irrevocable Funeral Trust: Unlike revocable funeral trusts, this type does not allow for changes or withdrawals once the funds are placed in the trust. It is typically used for Medicaid planning or to meet certain eligibility requirements for government assistance programs. 2. Family Revocable Trust: This type of trust allows multiple family members to contribute to a single trust account, pooling their resources to cover future funeral expenses collectively. 3. Joint Revocable Trust: This trust account is meant for couples or partners who wish to plan and fund their funeral expenses together. It ensures that both parties' wishes are considered and that sufficient funds are available to fulfill their funeral arrangements. 4. Funding Options: New Hampshire revocable funeral trusts can be funded in various ways, including by lump-sum deposits, periodic contributions, life insurance policies, or the use of existing assets like stocks, bonds, or real estate. 5. Funeral Home Trusts: Some funeral homes in New Hampshire offer their proprietary revocable funeral trust accounts. These trusts are specifically designed to work in conjunction with the services and offerings provided by the funeral home. Regardless of the specific type, a New Hampshire revocable funeral trust — prearranged funeral trust account provides individuals with peace of mind knowing that their funeral expenses are taken care of, allowing their loved ones to focus on grieving and honoring their memory rather than financial arrangements.
