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How To Setup A Burial Fund

What Is A Burial Fund?

A burial fund is money set aside to pay for burial expenses. For example, this money can be in a bank account, other financial instrument, or a prepaid burial arrangement.

Some states allow an individual to pre–pay their burial by contracting with a funeral home and paying in advance for their funeral. You should discuss this with your local Social Security office.

Learn how to setup a burial fund below.

Establishing A SSI Burial Fund

Setting up a SSI Burial Fund is remarkably easy and well worth the small amount of trouble you’ll have to go to. All that you have to do is set up an account and clearly show that the money in the account is set aside for a burial fund.

What Are Supplemental Security Income (SSI) Resources?

SSI resources are things you own such as:

  • cash
  • bank accounts, stocks, U.S. savings bonds
  • land
  • life insurance
  • personal property
  • vehicles
  • anything else you own which could be changed to cash and used for food or shelter and deemed resources.

You Can Set Up A SSI Burial Fund By

Naming the account – Burial Fund (told you it was easy)

Signing a Statement – with the following information:

  • how much money has been put to one side for burial purposes
  • whose burial the money is to pay for (you never know who might need it first!)
  • how and where the money has been set aside
  • the date you first set some money aside for your burial fund

https://www.ssa.gov/ssi/text-resources-ussi.htm

Funeral Burial Insurance Quote

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How To Setup A Burial Fund

Funeral Burial Insurance Quote

Burial insurance (aka funeral insurance) is a basic issue life insurance policy that covers people until they reach 100 years old. Burial insurance (also known as funeral insurance) is promoted as a way to pay in advance for your funeral expenses so that your loved ones won’t have to pay for your funeral. There are many things you can do to make your death easier on the wallets of those you love. Preplanning your funeral saves money and grief, as well as deciding whether you want to be buried in a casket or cremated and put into and urn, figuring out who gets what part of your estate and all the related turmoil associated with the end of life.