phone: 920.468.4111 or toll-free: 800.750.4222

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. In some states, the funeral home that pre-arranges may keep a portion of the funds even if they do not conduct a funeral. Wisconsin law is very protective of the consumer and their rights to change their minds and freedom of choice.

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

  1. Funeral Home
    Service Charge
  2. Church Fees
  3. Obituary Notice
  4. Casket
  5. Organist/Soloist
  6. Flowers
  7. Vault
  8. Prayer Cards
  9. Funeral Luncheon
  10. Cremation Fees
  11. Hairdresser
  12. Death Certificates
  13. Urn
  14. Medical Examiner Fees
  15. Final Date Engraving
  16. Pastor Stipend
  17. Interment Charges
  18. 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 on the day the trust is established
  • Interest is taxable

Insurance Trust

Irrevocable Funeral Trust- Complete value of funeral and cash advance items 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.