Proko-Wall Funeral Home : : Funding

Prepayment

A funeral may be prepaid by establishing a funeral trust. In Wisconsin, 100% of all funds given to a funeral home to prepay final arrangements must be put in trust for the consumer. Not all states have the "100% rule."

The following list shows items that may need to be paid for at the time of death based on what the survivors have chosen:

Funeral Home service charge	Church Fees	Obituary Notice
Casket	Organist/Soloist	Flowers
Vault	Prayer Cards	Funeral Luncheon
Cremation Fees	Hairdresser	Death Certificates
Urn	Medical Examiner Fees	Final Date Engraving
Pastor Stipend	Interment Charges	Shipping costs

The most common reasons for prepaying funeral costs are to reduce financial stress on the survivors or to spend down assets to qualify for government benefits for nursing home/home health care.

To qualify for government benefits, the applicant’s allowable assets are:

$2000 in checking or savings
$1500 in paid up life insurance
Cemetery property & Marker
Funeral trust

There are two ways to trust for funerals; bank trusts or insurance trusts.

Bank Trust

Irrevocable Funeral Trust- Up to $3000 with interest also irrevocable
Casket Trust - Value of Casket
Vault Trust - Value of Vault

A Certificate of Deposit is purchased at a bank preferred by the family
Interest percentage based on rates available day the trust is established
Interest is taxable

Insurance Trust

Irrevocable Funeral Trust- Complete value of Funeral with interest also irrevocable

Whole Life Insurance policy with irrevocable assignment to funeral home
Interest percentage approx 2 - 4%
Interest is non-taxable
May be paid for on a lump sum basis or on a monthly, quarterly or annual basis

If you wish to prepay your final expenses for services in Wisconsin, regardless of your choice of funeral home, Proko-Wall Funeral Home's pre-arrangement counselor is licensed to establish that funeral trust for you. Please complete the pre-arrangement form and submit it to Proko-Wall.