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Please explain the differences and advantages and disadvantages of setting up an revocable as opposed to an irrevocable funeral trust.

 

My 87 year old mother wants to prepay her's and my Dad's funeral to "spend down" for my dad's pending Medicaid application. The funeral home said that it would be better to either set up one or the other. Which, in your opinion, would be better for:

  1. medicaid purposes
  2. their well being
  3. the family's well being.

I don't believe Medicaid will allow anything but an irrevocable trust. Medicaid wants to see that they won't get stuck with any of the funeral bill so they require it to be irrevocable. I also believe that it is in everyones best interest that the funding be irrevocable. No one can foul things up later.

-- David Rush Shirley

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