Irrevocable Pre-Need Arrangement

By: Tom Gallagher
Tuesday, March 1, 2022

A funeral services package also referred to as pre preparations or funeral service packages, is a pre-paid contract between clients and funeral homes. Such packages include all necessary preparation for the deceased individual's funeral. Regardless of the level of fitness or age, anyone can form a pre-need arrangement.

It's a great approach to guarantee that your funeral will occur just as you choose. Many people are particular about how they want their funeral service to be and creating a pre-need arrangement can help. Gallagher Funeral Home receives a high volume of inquiries about this service. The following information pertains to pre-need arrangements.

About Pre-Need Contracts?

The sum due to the funeral home for services given is held in escrow until your death under the terms of this contract. Following your death, the establishment will provide all of the services specified in your contract. The interest earned on the initial deposit amount is applied to the cost of funeral services due to inflation.

What Is Included In A Pre-Need Agreement?

Services for pre-need funerals contain essential information, such as:

  • The final resting place
  • Whether an urn or casket was chosen
  • The headstone or marker type
  • Option of cremation/burial
  • Memorial service/funeral service
  • Instructions for customized funeral or cremation

Irrevocable or revocable pre­-need arrangements are both possible. Whichever one you choose, there will be adequate funds to cover the cost of the specified services. The primary advantage of an irreversible pre-need agreement would be that it enables you to qualify for Medicaid. When determining eligibility for Medicaid, the funds set aside in an irrevocable pre-need agreement are not considered an asset, which benefits you. Because the funds are held in escrow, they remain secure until needed.

For details about our funeral services, please call Gallagher Funeral Home at 318-640-1375. Our professional and seasoned funeral director and friendly staff members are proactive and knowledgeable. They will provide you with all the necessary information to help you preplan your funeral service.

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