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Why Plan in Advance

Planning in Advance

Planning in advance brings many questions at first and ultimately peace of mind for you and your loved ones when the choices are made. Our thought provoking White Paper why plan a funeral in advance? is a conversation which addresses the key points you will need to think about as you weigh the choices. Please write you email address in the space below and we would be happy to send you a copy.

why plan for a funeral in advance?why plan for a funeral in advance?

 

Cremation

The decision to chose cremation or not is an important one. We have compiled a document that contains all of the relevant information for you and your loved ones to be satisfied with your choice.

 

Funding with a Trust

When you prearrange and prefund your funeral you ensure that the funeral reflects your wishes, that there is sufficient money readily available to pay for your funeral, and that your family or friends are not burdened with having to make important decisions or face financial concerns at a very stressful time.

The New Jersey Prepaid Funeral Trust Fund™ meets all Federal and State consumer protection preneed laws. Our goal is to ensure that people can prefund their funerals - safely, conveniently and with complete confidence. Below you will find two informative brochures to download and read. We also walk you through the key steps below.

NJ Prepaid Funeral Trust FundFuneral Planing Choices
Planning with SSI/Medicaid SSI/Medicaid And Prepaid Funeral Arrangements

How does the New Jersey Prepaid Funeral Trust Fund™ work?

The New Jersey Prepaid Funeral Trust Fund places your money in an FDIC insured account - so you can be sure it is safe. Your 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. (Ask your Funeral Director for more information)

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 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 amount of moneys 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 short-fall. In either case we will do our best to let you know of the financial situation prior to proceeding.

It is important that you understand that Bradley Funeral Homes 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.

What about payment and confirmation?

When your arrangements are finalized, we will prepare the proper forms and you will write a check directly to the New Jersey Prepaid Funeral Trust Fund for the cost of the funeral. (You may pay in full, or make a minimum payment of $500 and arrange a payment plan with your Funeral Director.) Within 10 days, you will receive a confirmation of your account directly from the Trust Fund. For more information about how you can benefit from the New Jersey Prepaid Funeral Trust Fund, simply ask us.

Facts About the New Jersey Prepaid Funeral Trust Fund™

  • Your account is 100% trusted. It is totally refundable with interest and with no penalty, and is transferable except when setup as an irrevocable account for SSI/Medicaid or in conjunction with General Assistance Accounts.
  • Is managed in cooperation with one of New Jersey's largest banking institutions and is insured by the Federal Deposit Insurance Corporation (FDIC)
  • Returns the highest interest available, which varies with prevailing jumbo Certificate of Deposit (CD) rates, from day of deposit.
  • Accepts flexible payments with a minimum initial payment of $500.
  • Has no age limit and asks no health questions. And, is accepted for SSI/Medicaid and General Assistance asset exclusion.
  • Provides yearly tax statement and summary of principal and interest earned (reportable if you are required to file with the IRS).