Prearrangements

Preplanning a funeral allows you to explore all the available options to help you make personal choices, which your family may not consider after the fact. Some options include your choice of casket and vault, minister preference or whether you would like services held at the funeral home or church. Preplanning allows you to make decisions at a time when you are not grief stricken and can more clearly consider your options.

Prefunding your funeral allows you to pay for the services you choose so that your family doesn’t have to deal with these considerations later. A preneed agreement (an itemized statement of the services and merchandise selected) will be completed and a copy given to you for your records. Once the agreement is signed the funeral home is required by law to deposit your payment within ten days to an interest-bearing, government backed account in a bank. Frederick Bros. Funeral Home, Inc. uses PrePlan.  Keep in mind that your money continues to be yours, even when deposited in a Trust Account. You will receive a Confirmation Statement of the money deposited within 30 days from the date you signed the preneed agreement which will indicate the name of the financial institution. At the beginning of each year the Trust Account issues a 1099 stating the interest earned in the account during the previous year. You are required to claim this on your taxes as income.

Revocable Trust vs. Irrevocable Trusts:
Money deposited in a Trust Account are considered either revocable or irrevocable

Revocable: Money deposited in a Trust Account is considered either revocable or irrevocable. Generally all funds are considered revocable, meaning the beneficiary can withdraw or transfer funds at any time.

Irrevocable: Money deposited into a Trust Account for persons receiving Medicaid or Supplemental Security Income (SSI) is considered irrevocable and an Irrevocable Agreement must be signed. This means that the money cannot be returned to the beneficiary or person making the deposit. This money may only be used for funeral and burial expenses. Any monies left over after the fact has to be forwarded to the Department of Social Services. An annual statement from the financial institution will be issued showing all activity in the account. You may or may not be responsible for paying income tax on the interest earned depending on your individual situation.

If you have already made prearrangements with another funeral home and would like to transfer these arrangements to our funeral home simply call us and we will work with you to make the changes.

Mandatory Contract Disclosure for Irrevocable Preneed Trust​:
New York State law requires this agreement to be irrevocable for applicants for receipt of supplemental security benefits under section two hundred nine of the Social Services law or of medical assistance under section three hundred sixty six of the Social Services law, and for the moneys put into a trust under this agreement to be used only for funeral and burial expenses. If any money is left over after your funeral and burial expenses have been paid, it will go to the county. You may change your choice of funeral home at any time.