The process of preparing funeral arrangements before the need arises is called pre-planning or pre-arranging. There are three parts to the process. The first step is to simply make a record of statistical and biographical information that is needed to complete a death certificate and prepare newspaper notices; second, choose the arrangements the funeral home is to provide in the future; and third, provide the funds to pay for these arrangements. You may choose to complete one of these steps, any combination of two of the steps or complete all three steps, depending on what best fits your circumstances and convenience.
All funds paid to our firm in advance are deposited into a special bank account called a Funeral Trust. The bank secures your funds until the funeral home provides a certified copy of the death certificate and required documentation that the services you prearranged have been performed. The funds are then sent to the funeral home to pay for the services.
When you have selected arrangements and choose to pay in advance, you may prepay in full to secure cost protection at today's prices. With a cost protected arrangement, all funds in the account, including accumulated interest, will be withdrawn by the funeral home after death, as payment in full for the prearranged services selected.
Cost protection is available for arrangements that are paid for in full. Those who prefer to make pre-need payments over a period time can do so but are subject to any price increases that may occur before the arrangement has been fully funded.
Another option is a non-cost protected arrangement. Through this method, any funds you have deposited, combined with accumulated interest, will be applied towards the actual cost of the arrangements when the time comes. If there is more in the account than is needed, the overage may be returned to the estate of the deceased. If the account does not cover all the funeral expenses, your family would have to provide additional funds to pay for any remaining balance.
Kelly Funeral Home is a member of the New England Funeral Trust. All N.E.F.T. member funeral homes provide clients with the same forms and statements, which are continually reviewed to maintain full compliance with state and federal laws. The pre-need funds received by our firm are deposited in our Master Trust Account at the Cambridge Trust Company, 1336 Mass. Ave., Cambridge, MA 02138. The Cambridge Trust Company has a solid history of helping funds to grow safely. The company was established in 1892! That's pretty impressive. We take great pride in our N.E.F.T. membership. If you wish, we would be glad to send you a pamphlet about the New England Funeral Trust and a Massachusetts Pre-Need Buyers Guide. The Massachusetts Division of Professional Licensure, Board of Registration in Funeral Service produces this buyers guide. It includes rules and regulations regarding Pre-Need Funeral Contracts. Just call or e-mail us and we will mail this important information for you to review at your convenience.
Nursing Home Issues
Our staff is well experienced with the process often referred to as "Spend-Down " which allows someone in need of nursing home care to pay for funeral related expenses before the person's funds are exhausted by nursing home costs. The process is driven by Medicaid regulations governing how a nursing home resident's total assets must be below certain limits to qualify for long-term care financial assistance. The Trust Accounts we establish can be made Irrevocable for long-term care applicants. Irrevocable status eliminates the applicant's access to these funds as required by Medicaid regulation. Our New England Funeral Trust documentation is familiar to most social workers preparing an assistance application.
If you wish to begin compiling funeral planning information, Click Here to view an information form.
We would be glad to answer any questions you may have regarding any aspect of funeral or memorial services, burial, entombment, cremation options, pre-planning, pre-paying for funeral related expenses and any other matters of concern or interest. It is our honor to assist you and your family with these important matters.
Please Call, Write or E-mail us for more information.