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What is a funeral trust?
A funeral trust is an agreement between an individual and a funeral home in which money is deposited to pay for funeral and final expenses. A prepaid funeral trust is a legal document. Your money is placed with the Washington State Funeral Directors Association Master Trust where the funds are invested according to Washington State law. Your funds and these investments will remain in the custody of the Trust until they are needed to pay for the prearranged funeral service you selected.

What are the advantages of the WSFDA Master Trust?

1. The expense decisions you make relating to your choices for services and final disposition are clearly stated in writing, eliminating the guesswork, and you set the limits.
2. With a guaranteed agreement, you ensure the services and merchandise you select will be provided at no additional cost to you or your family, no matter how much prices increase over time.
3. By establishing your wishes and prepaying for your funeral, you are protecting your family from unexpected costs at the time of your death.
4. Peace of mind. For both you and your family, knowing you have avoided the possibility of placing a financial burden on your loved-ones, as well as relieving your family from the task of having to make difficult choices after your death.

Is the Trust burial insurance?
No. The WSFDA Master Trust is a trust fund where your money will be set aside in an account on your behalf. Washington State law requires that funds paid to the funeral director be placed in a special revocable or irrevocable trust. Your funds are added to a large pool of funds where they are invested in interest bearing, government backed securities protected by the full faith and credit of the United States of America.

Do the earnings remain in the account?
Yes. The interest earned on your account makes it possible for your selected services to be provided at the prices in effect at the time of your death. Your funds are invested with the intent to provide maximum protection while keeping up with inflation over time.

Are earnings in my account taxable?
Each WSFDA Master Trust account is established as a revocable, grantor trust. The IRS has ruled that any earnings are income to the owners of the account and must be declared as such.

What if I change my mind?
Just let us know. Your trust is flexible and is revocable. This means you may revoke, alter or amend your trust whenever and however you choose.

What if I move to another state?
If you move, your WSFDA Master Trust will continue to accrue interest and other benefits to you until such time as the funds are needed. You may withdraw your funds, or as a courtesy we can help arrange for the transfer of your WSFDA Master Trust account to a similar plan in your home state.

How much do I need to deposit?
With the WSFDA Master Trust you have the flexibility to either pay one lump sum or make monthly payments. The best way to determine how much would be needed to completely cover final expenses is to discuss your wishes with a funeral service professional. With the WSFDA Master Trust, you may also set funds aside for cemetery expenses, flowers, grave markers, or other expenses which you may wish to cover.

I am receiving Medicaid benefits. Can I set funds aside for my funeral that will lie protected from being considered accountable resources?
Under the Federal Supplemental Security Income and Medicaid guidelines of the State of Washington, an irrevocable trust may be established if you are now, or expect to be in the near future, on public assistance. This means you may set any sum of money aside for your funeral, provided the money is specifically set aside for that purpose and can be supported with a list of selected services.

What does it cost?
There is no cost to join the Trust. The cost of the funeral arrangement is determined in the contract by the services you select.

The WSFDA Master Trust makes sense.
How do I set one up?
It's easy. Just contact your funeral service professional to discuss your plans and wishes. Your funeral director and the Washington State Funeral Directors Association will process, record and maintain all necessary documents for you.

What are the advantages to participants in the WSFDA Master Trust?

Professional management of your funds by one of the country's most respected financial institutions, Everen Securities, Inc.
No age limit.
No questions about your health.
No sales charges - like those associated with brokerage firms.
Convenience - all paperwork is done for you in strict confidence.
Security - the trust's primary investment objective is safety of principal.
With revocable trusts you can withdraw your deposit and the interest your money has earned.
Special irrevocable trusts for SSI or Medicaid recipients.
The highest possible rate of interest, consistent with safety and liquidity.

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