A gift to your family, sparing them hard decisions at an emotional time.
Offer a gift of comfort and beauty to a family suffering from loss.
New Jersey Prepaid Funeral Trust Fund™ Choices
Why do people use The New Jersey Prepaid Funeral Trust Fund™?
Totally revocable with interest
Growth from day of deposit
FDIC-insured bank deposits
NO age limit and NO health questions
Flexible payment options
Available for SSI, Medicaid, and General Assistance applicants
How does it work?
At the time of prearrangement, you will select the specific items of funeral merchandise and services that you desire. Your funeral director will determine today's prices for your selection and provide you with a fully itemized statement. Your funeral director will then provide you with the trust fund agreement in the amount of those charges. If you are prepaying your funeral for SSI or Medicaid eligibility, your funeral director will make the necessary arrangements to ensure the agreement will be accepted. Your prepayment check is payable to the New Jersey Prepaid Funeral Trust Fund™. The funeral director will forward a copy of your contract, together with your check, to the offices of the trustees at the New Jersey State Funeral Directors Association.
How is the trust fund administered?
On the day that the Trustees receive your contract, Social Security certification, and check, your money will be deposited into the Trust Fund's time deposit, pooled investment to receive the highest rate of interest. Shortly thereafter, you will receive a deposit acknowledgement of your account. Annually, the Trust Fund will send you a summary statement of the principal and interest together with the Internal Revenue Service's required Grantor Tax Letter for your individual tax reporting. Interest income is reportable if you are required to file with the Internal Revenue Service. The interest received by the Trust Fund will vary with money market rates, and the Trustees will only place those funds into FDIC-insured bank deposits. The Trustees receive 1.0% of the Trust Fund annually for their management and record-keeping services.
What does the law allow?
Federal and State law allows property-trusted funeral funds to be excluded from resources when SSI, Medicaid, or General Assistance eligibility is determined. You may pay your funeral director in full for future funeral arrangements by depositing funds into an irrevocable account in a property established Trust Fund.
Why choose the New Jersey Prepaid Funeral Trust Fund™?
Established in 1981, the New Jersey Prepaid Funeral Trust Fund™ is a safe, well-managed trust fully insured by the Federal Deposit Insurance Corporation (FDIC) to the fullest extent permitted by law in one of New Jersey's largest banking institutions. Unlike traditional savings accounts, which may close or become inaccessible at the time of death, this account becomes payable.