Pre-Need

There are three primary choices people have to make pre-arrangements. Until recently, the most common way was to meet with a local funeral director, choose the type of tribute that you wish, and make a monetary deposit into an interest bearing trust account, (CD or savings account). This method is known as Bank Trusting. Consumers may put as much money into the trust as they wish, unless they are under certain medical assistance restrictions. All payments made under this type of agreement, along with any interest or dividends, must remain in trust until death or until the consumer makes a written demand for the release of the funds. Under current law, the first $3,000.00 of the trust may be made irrevocable. After death, any excess funds that remain are typically returned to the decedent's estate, but individual burial agreements may provide otherwise. Be sure to read each agreement carefully in order to understand exactly what it provides.

The second method of pre-planning involves Insurance Trusting. Under this type of arrangement, a consumer may meet with either a licensed funeral director or an agent of the funeral home for the purpose of choosing funeral goods and services. These plans are then funded by the proceeds of a life insurance policy. Many different disclosures must be made at the time of purchasing insurance-funded burial agreements and those are outlined below. Kip Shuda of the Shuda Funeral Homes: Stevens Point and Plover, is fully licensed as a Wisconsin Insurance Agent to assist with this choice of funding.

The third method of pre-planning involves the Wisconsin Master Trust. This type of funding is managed by the firm of Smith-Barney out of Appleton, WI, and overseen by the Wisconsin Funeral Directors Association. Call one of the friendly staff members at 344-2023 Plover, or 344-2113 Stevens Point to answer any questions.