Why Should I Consider Preplanning My Funeral?

By preplanning your funeral, you can:

  • Offer your loved ones peace of mind knowing they won’t be burdened with making these decisions for you.
  • Help eliminate emotional overspending that can occur from grief or guilt when loved ones are left to make these decisions.
  • Ensure a meaningful and personal funeral arrangement that reflects how you want your life to be celebrated. 

What Is Medicaid And How Does It Relate To Funeral Planning?

Medicaid is a health insurance program funded by both state and federal governments to help people with low incomes and great need for medical care. Medicaid pays for medical treatment, including nursing home care and other services that may not be covered by Medicare or Medicare supplement programs. Payments are made directly to the health care provider.

Preplanning and prefunding your final expenses with the appropriate funding vehicle reduces your net assets helping you become eligible for health care assistance such as Medicaid. If irrevocably assigned, funeral insurance will not be considered as a personal asset.

Each state has established a limit on the amount of income and assets people who are on Medicaid can have. If your assets are more than your state allows,  you will be required to either spend them down or move some of those assets into options that are considered exempt.

It is important you consult with a legal advisor since transfers done incorrectly can create a penalty period of ineligibility for Medicaid.

How Much Does An Average Funeral Cost?

According to Money Magazine, the total cost of a funeral will generally be $10,000 or more, making it one of the biggest expenses families will face. The actual cost varies and will depend on your individual choices.

What Options Are Available For Me To Prefund My Funeral?

There are several options for paying your final expenses in advance, each with varying advantages and disadvantages:

Screen shot 2013-09-05 at 4.16.16 PM

Is There Someone I Can Contact For More Information?

Contact Golden Considerations today for:

More information on preplanning and prefunding

Access to our exclusive network of over 1,700 funeral homes

Additional Preplanning resources

Call: 1-800-405-4232, Mon-Fri between 8:00 a.m. – 5:00 p.m. or email us.

If you do not see your question answered above, please feel free to ask your question using the form below and we will get back to you with an answer.o.

Your Name (required)

Phone Number

Email (required)


Your Question