Why Plan Your Funeral in Advance?

The prospect of planning your funeral may seem morbid; however, more and more people are realizing the prudence of this decision, and the power of pre-planning to reduce stress on their loved ones, and to make sure their wishes are honored. Through our NJ funeral home partner, Bradley & Son Funeral Home, Simple Cremations of New Jersey has been helping customers get their affairs in order and tailor their funeral services to their final wishes.

The conversation of planning your own funeral can be uncomfortable, but it can help you take the stress of your family during the trauma that will inevitably accompany your passing. Call us today at (973) 908-6023 to start the conversation now. To learn more about the importance of planning your funeral in advance, please read our White Paper.

The decision of burial versus cremation is one everyone must make when planning their funeral in advance, and it doesn’t have to be a tedious or emotionally exhausting process. The funeral specialists at Simple Cremations of New Jersey are here to walk you through the process and help you decide if cremation is ultimately right for you.

Ensuring Your Funeral is Paid for and Planned Correctly

Those looking to plan their funeral in advance can prefund their funeral to reduce or eliminate the economic burden on their surviving loved ones. A primary mechanism through which New Jerseyeans can prefund their funeral is through the New Jersey Prepaid Funeral Trust Fund. You can also incrementally fund your funeral through Medicaid and Social Security.

Understanding the New Jersey Prepaid Funeral Trust

The New Jersey Prepaid Funeral Trust Fund places your money in an FDIC insured account where the money stays in the recipient’s name and it is completely refundable, except in the case of SSI/Medicaid. Should you need to apply for a public assistance program in the future; your trust account can be converted to qualify as an excludable resource. All funds are invested in jumbo certificates of deposit which allow the trust to offer competitive interest rates and growth from the day of deposit. The trust fund meets all federal and state regulations for prearrangements, and also meets the requirements for SSI, Medicaid, Work First New Jersey, and Work First New Jersey General Assistance resource exclusions.

The New Jersey Prepaid Funeral Trust Fund Offers:

  • 100% trusted and secure account that is totally refundable with interest and with no penalty, and transferable except when setting up as an irrevocable account for SSI/Medicaid or in conjunction with General Assistance Accounts.
  • Management by one of New Jersey’s largest banking institutions and backing by the Federal Deposit Insurance Corporation (FDIC)
  • Highest interest available, which varies with prevailing jumbo Certificate of Deposit (CD) rates, from the day of deposit.
  • Flexible payment options with a minimum initial payment of $500.
  • No age or health restrictions and acceptance from SSI/Medicaid and General Assistance asset exclusion.
  • Yearly tax statement and summary of principal and interest earned (reportable if you are required to file with the IRS).

The trust account grows with interest to help with the rising costs of funerals over time. At the time a person dies your Funeral Director will prepare a new Statement of Funeral Goods and Services Selected form to arrive at the current funeral cost. In many cases, the current funeral cost should be close to the amounts of money available in the trust account. There may be cases where excess monies will be returned to the estate or the estate may be asked to cover the shortfall. In either case we will do our best to let you know of the financial situation prior to proceeding.

We do not receive any commissions or payments for setting up a trust. 100% of monies paid go directly into the trust and the funeral home does not get paid until after we complete the funeral.

For more information, call: (973) 908-6023