Author: Mehgyn Bowen

Tax Statement Information

Tax Statement Information

Pleased be advised:

PrePlan cannot provide any tax statement information over the phone.

If you have moved, please be sure that the funeral home you have made prearrangements with has your current address.

Year-end tax statements will be mailed out between January 25 through the 31st of this year and will be available online after January 31st. To access this information please click on the “Consumer” tab above. You will need:

  • The PrePlan account number
  • Last four (4) digits of the Purchaser’s Social Security Number
  • Purchaser’s last name

Once logged in, you may download and print copies of your Tax Statement(s) for the last three years.

If you have any questions, please contact the funeral home you have made your prearrangements with. They will be happy to assist you.

Tax Reporting Glossary

Beneficiary: The individual for whom funeral arrangements will eventually be performed.

Federal E.I.N: An Employer Identification Number is assigned to each account held in PrePlan and is used for reporting interest to the IRS.

Fiduciary Fees Paid: A minimal fee deducted from the gross interest amount to cover administration costs of the trust. This fee is fully disclosed in the PrePlan customer agreement.

Gross Taxable Interest: The total amount of interest earned on the trust account. This is the amount the consumer must report per the IRS.

Investment Advisory Fees Paid: A fee determined annually to pay for related professional investment advice. This fee is fully disclosed in the PrePlan customer agreement.

Net Interest Earned: The gross taxable interest earned less fiduciary and investment advisory fees paid; sum of all net interest figures on the summary statement.

Summary Statement: A statement generated annually summarizing all cash flow transactions on each account.

Taxpayer Social Security Number: The SS# of the individual responsible for reporting the interest earned on the trust account, as per the original trust agreement. This should always be the purchaser’s SS#.

Trust Tax Statement: The statement generated by PrePlan showing the gross interest income amount reported to the IRS.

Preplanning for Medicaid/SSI

Preplanning for Medicaid/SSI

Special Consideration for Medicaid/SSI Applicants & Recipients

All citizens – regardless of income – are entitled to and deserving of both a proper funeral service and a burial with dignity and respect. In fact, federal and state laws support this guiding principle in a number of ways.

First, any person applying for Medicaid/SSI can set aside funds for the sole purpose of paying their funeral/burial expenses – as well as the funeral/burial of immediate family members – as part of the spend-down process to Medicaid/SSI eligibility. The funeral/burial funds set aside will not be counted as part of the individual’s financial resources. A Medicaid/SSI eligible individual must first notify his or her caseworker that funds will be set aside to pay their funeral/burial tax expenses.

Second, New York State law requires that 100% of these funeral/burial funds be placed in an irrevocable trust account, ensuring they will be available when needed and used for no other purpose than what they were intended: for the funeral/burial of the account beneficiary.

An applicant/recipient of Medicaid/SSI may also set aside funds in irrevocable funeral trust accounts for the following immediate family members:

  • Spouse
  • Children
  • Step-Children
  • Siblings
  • Parents
  • and spouses of those individuals listed above

Please note that when the original purchaser passes away, the beneficiary (family member) becomes the new purchaser and taxpayer. If there is any excess money in the preneed account after the funeral and burial charges have been paid, the overage will go to the county where the decedent was receiving benefits.

The funds used to establish an irrevocable preneed funeral account must be used only for reasonable and common funeral expenses for such things as professional services, transportation, facilities and merchandise, as well as cash advances to cover the cemetery and other related charges.

Finally, the individual has the right to use any funeral home they choose, and may be changed at any time.

Commonly Asked Questions: Preneed Accounts for Applicants or Recipients of Medicaid/SSI

Q: What happens if I currently have a revocable preneed account, but I am now applying for Medicaid or SSI?

A: When applying for Medicaid/SSI, your caseworker should advise you that the revocable preneed account must be converted to an irrevocable account to ensure that your eligibility for benefits is not jeopardized.

Q: How does my life insurance policy affect my Medicaid eligibility?

A: The face value of any life insurance policy(ies) over $1,500 will be counted as an asset in determining your Medicaid eligibiity.

Q. Can an overage in an irrevocable preneed trust account be used to fund additional services or merchandise?

A: No, If the current account balance exceeds the actual cost of the services and merchandise originally selected, the overage must be returned to the county.

Q: Can my irrevocable preneed agreement be modified at the time of need?

A: Yes. However, the new items must be equal or lesser value, and must qualify as funeral merchandise and services. If there is an overage, the funds may not be depleted to cover additional merchandise and services, but instead must be returned to the county.

Q: Which county Social Services Department receives the overage in an irrevocable trust account?

A: If there’s an overage after the final funeral charges have been paid, the overage must be sent to the county where the recipient was receiving public assistance at their time of death.

Q: Can an irrevocable preneed funeral account be split into separate accounts in New York State?

A: No. The full amount of an irrevocable preneed agreement must be placed into a single preneed trust account.

Q: Which items may not be included on the preneed itemization form for an irrevocable preneed account?

A: As an applicant or recipient of Medicaid/SSI, you may only prearrange “reasonable and common” funeral merchandise and service expenses that are related to the funeral. Examples of items not permitted by NYS Department of Health include: airline tickets, funeral luncheons, charitable donations, and cash gifts. If there are any questionable items, you should speak to a social worker to obtain prior approval.

Q: Who may authorize a transfer of funds to another funeral home?

A: Before death occurs, only the purchaser and his/her legal representative may authorize a transfer of an irrevocable preneed account to another funeral home.

Q: How does the law affect pre-existing contracts of Medicaid applicants and recipients?

A: If you had both a pre-existing agreement and were receiving benefits prior to January 1, 1997, your account may remain revocable, but must still be recertified annually by County Social Services personnel.

How to Preplan

How to Preplan

Preplanning your memorial service is a loving gesture to those you leave behind.

Most importantly, planning ahead of time will relieve your family from having to guess what your wishes were during a very emotional time following your death.

Before visiting a funeral home to discuss your prearrangements, give some thought to your preferences for a celebration of your life.

Try to identify religious elements, songs or readings and personal touches you would like made part of your service.

When you meet with the funeral director, they will guide you through the different services and merchandise available so you can select those that match your personal preferences and beliefs.

Your funeral director will give you a printed copy of their “General Price List” to show the cost of services and merchandise.

This will enable you to create a meaningful service that meets your preferences and financial considerations.

Once the details have been finalized, your funeral director will prepare a preneed agreement and fully itemized statement for your review.

You’ll get a copy to take home with you.

Pre-payment is not required, but it is an easy and secure option should you choose to do so.

In New York State, your funeral director is required by law to deposit your prepaid funds into an interest-bearing government-backed trust account.

The principal – and the interest earned – will remain yours.

It is important to discuss your decision to pre-plan and/or pre-fund your funeral with your loved ones.

Discuss with them which funeral home you have made your arrangements with and consider providing them with a copy of your preneed documents.

There are several pieces of information you want to have handy when you sit down to plan your celebration of life.

Military history, education, life experiences and even your philosophy can all be elements of a meaningful memorial.

What to expect at a prearrangement conference:

NYS law requires the funeral director to provide you with the following:

  • A General Price List with the current prices for any merchandise, services and facilities regularly offered by the funeral home.
  • A Preneed Itemization Statement that lists the items of merchandise, services and facilities that have been chosen, and the price of each.
  • A Preneed Agreement that outlines all the terms, as well as consumer’s rights. It must also state how the principal and interest will be applied to the cost of the funeral services and merchandise at the time they are provided.
  • If prepaying, Written Notice provided within 30 days of payment to identify where the money has been deposited.
Security of Preneed in NYS

Security of Preneed in NYS

Security of Preneed Funds in the state of New York

New Yorkers, like all consumers, understandably want to be sure the funds they set aside in a preneed funeral trust account are safe and secure. The following is a series of fundamentally important questions about the protection of preneed funds.

How does New York State protect preneed funds?

Consumers in New York who prefund their funerals have their money protected by what are truly the strongest preneed laws in the nation.

These laws require that 100% of preneed funds be deposited in an interest-bearing, government backed trust account where the principal and interest earned remain the property of the consumer.

The purchaser remains in control of the preneed account. If the account is revocable, a purchaser may request a full refund of the principal and interest earned at any time, for any reason, without penalty.

The purchaser may also select a new funeral home at any time.

New York State law also mandates full disclosure to the consumer by requiring that written statements be sent containing information on the funds deposited to date, where they are deposited and the amount of interest earned.

Under New York State law, applicants or recipients of Medicaid or Supplemental Security Income (SSI) may set aside funds in an irrevocable trust account for the sole purpose of paying their funeral and burial expenses, and those of their family members.

The funds in an irrevocable funeral trust are exempt from being counted as a resource when determining eligibility. By law, funds in an irrevocable trust account cannot be refunded, but the purchaser may select a different funeral home at any time.

What is the difference between a revocable preneed account and an irrevocable preneed account?

In New York State, an individual applying for Medicaid or SSI may set aside funds in an “irrevocable” account for their – and their family members’ – future funeral/burial expenses.

These funds are considered an excludable asset in determining program eligibility.

Funds set aside in an irrevocable account may not be refunded and any funds remaining (“overage”) in the account after payment is made for all funeral services and merchandise provided must be forwarded to the county where the beneficiary was residing at the time of death.

In contrast, a revocable account in New York State is fully refundable upon demand. Any overage remaining in a revocable account after the funeral services and merchandise have been provided must be forwarded to the beneficiary’s estate.

Both irrevocable and revocable preneed accounts allow a change to a different funeral home, even if in another state, without penalty at any time.

May a funeral director charge a fee for planning a prepaid funeral?

No, in New York State, funeral directors cannot charge any fee for prearranging a funeral.

Are there any fees associated with planning a prepaid funeral?

Yes, all preneed funeral trusts, are permitted by law to assess a fee of (.0075%) of the principal sum in the fund to provide management and administrative services to operate and staff the fund. A minimal fee is also paid for the expert investment advice given to PrePlan for the benefit of its customers.

Of course, these terms are fully disclosed in the preneed agreements.

What happens if the funeral home closes?

In the event of a funeral home closing, NYS law requires that all account holders be notified in writing within 30 days.

Fortunately, preneed funds are forwarded to an interest-bearing account with a separate financial institution in the purchaser’s name. The purchaser remains in control of those funds at all times.

They may then choose to transfer the funds in their preneed account to another funeral home or, if it is a revocable agreement, they may request a refund of their deposits plus all interest earned.

The New York State Health Department Bureau of Funeral Directing regulates funeral service and may be of assistance.

Pre-planning Vs. Pre-funding

Pre-planning Vs. Pre-funding

What is the difference between pre-planning and pre-funding
a funeral?

Pre-planning a funeral involves making decisions on the service (music selection, readings, burial options, etc.). Many people think of funeral planning as part of their estate planning.

Pre-funding involves setting aside money to cover the costs of the funeral in the future. You can either pay the full amount or arrange a payment plan with the funeral home.

Many people often choose to both pre-plan and pre-fund their funeral when meeting with a funeral home.

Why Pre-plan a Funeral?

  • Make personal and specific selections for the funeral service that most closely meets your preferences and reflect your life’s story.
  • Prevent your loved ones from second-guessing your wishes after you die.
  • Take the time to research funeral homes, burial options, and financial considerations.
  • Consider the option to set aside funds for final expenses, relieving family members of an unexpected financial burden.

Learn more about Preplanning a funeral and what to expect.

Why Pre-fund a Funeral?

There are a number of benefits to pre-funding a funeral:

  • Place the cost of the funeral (at today’s prices) in an investment vehicle that will earn interest to keep pace with inflation to cover the cost of the funeral (at future prices) when the death occurs.
  • Prevent life insurance policies from being depleted at the time of death.
  • Consider options at your own pace to make sound, fiscally-responsible decisions.
  • Spare your loved ones the unexpected cost of a funeral during a highly emotional time.
  • Medicaid/SSI recipients may set aside money to fund the funeral service of their choice as a part of the “spend-down” process to meet eligibility limits.

New York State has the strongest preneed trust laws in the nation. Learn more.

Why Trust PrePlan

Why Trust PrePlan

The Gold Standard. Our Promise to You.

For over 35 years, PrePlan has partnered with New York State Funeral Directors Association (NYSFDA) member funeral homes to provide services designed for families across New York State. As the state’s leading pre-funded funeral trust administrator, we understand the needs and concerns of our consumers. When planning and funding your funeral arrangements, you want to be sure your funds are safe, secure, and compliant.

This is how PrePlan protects you and your assets:

  • Funds are 100% government-backed and we consider each investment decision carefully
  • Quarterly audits conducted by an independent firm ensures all investments are fully secure and compliant, checks and balances are in place, and all legal requirements are met
  • Knowledgeable and experienced staff well-versed in New York State preneed law and Medicaid/SSI compliance issues
  • Accredited by the Better Business Bureau, PrePlan proudly holds an A+ rating
  • Backed by the New York State Funeral Directors Association, we have a deep understanding of the funeral and memorial planning process and our participating member firms adhere to an enforceable Code of Ethics

So when looking to open a preneed trust account for yourself or a loved one, be sure to ask your funeral director about PrePlan Funeral Trust.

Looking for a funeral home in your area? Click here to find a NYSFDA member firm.

Closing Schedule

Closing Schedule

2024 Closing Schedule

Monday, January 1 – New Year’s Day

Monday, January 15 – Martin Luther King Jr. Day

Monday, February 19 – Presidents’ Day

Friday, March 29 at 1pm – Good Friday

Friday, May 26 at 3pm – Memorial Day

Monday, May 27 – Memorial Day

Wednesday, June 19 – Juneteenth

Thursday, July 4 – Independence Day

Friday, August 30 at 3pm – Labor Day

Monday, September 2 – Labor Day

Monday, October 14 – Indigenous Peoples’ Day/Columbus Day

Monday, November 11 – Veterans’ Day

Thursday, November 28 – Thanksgiving

Friday, November 29 – Day after Thanksgiving

Tuesday, December 24 @ 1pm – Christmas Eve

Wednesday, December 25 – Christmas





Account questions?

For specific questions regarding your preneed trust account, please contact the funeral firm who set up your PrePlan account.

For any other questions or comments please complete the form below and a PrePlan Administrator will follow up with you.



PrePlan Funeral Trust Receives Ethics Award

PrePlan Funeral Trust has received a 2022 Torch Award for Ethics from the Better Business Bureau of Upstate New York (BBB). BBB’s Torch Awards for Ethics celebrates the commitment made by businesses and charities to the highest standards of leadership, character, and organizational ethics. The awards show the practices receiving organizations employ to generate a high level of trust among their employees, customers, and communities. An independent panel of judges comprising of community leaders, business professionals, educators, and local journalists selected the winners.

“We are truly honored and appreciative of this award,” said Mike Lanotte, NYSFDA Executive Director. “For over 30 years, PrePlan Funeral Trust staff and Trustees have worked to implement an infrastructure that ensures the security and compliance of funds while also creating a culture that fosters exemplary customer service. Our mission is to provide “Gold Standard” services to our participating funeral firms, and this award recognizes the hard work and dedication that goes into fulfilling that mission.”

For the full press release from the BBB, visit their website.

2 Enhancements in 2022!

PrePlan is committed to offering solutions to optimize operations and increase participant convenience, while keeping the security of funds and compliance with trust laws as our continued top priority. Log in to your Funeral Home account for details on PrePlan’s two new programs.

Thank you for your membership and confidence. We are excited about these upcoming enhancements and look forward to serving you in 2022 and beyond.

Convenient. Compliant. Competitive.

Working with PrePlan is convenient, easy, and safe.

  • We offer same-day processing, ensuring your claims are taken care of promptly and efficiently.
  • PrePlan can securely deposit your firm’s death claim payments directly into your bank account. It’s safe, accurate, and fast.
    Get started today
  • We provide an option for electronic submission of death claims. While remaining 100% compliant, the process is easy, fast, and ensures prompt payment to your firm.

Whether opening new or transferring existing accounts, PrePlan is ready to step you through the process. Contact us at or 800.577.3752 to learn how.

Medicaid/SSI 101

With the new year comes some changes to Medicaid resource levels. So, we thought this was a great time for a refresher.

What is Medicaid?

Medicaid was established by Congress in 1965 as a government health insurance program for individuals of any age whose income is too low to provide routine health care costs, or whose health care costs are too high to be covered by their income. These health care costs include the cost of nursing home residence. Medicaid eligibility is determined from detailed documentation provided by an applicant regarding their income and assets. The figures below reflect the amount of resources an applicant may retain and still qualify for Medicaid. Resource levels depend on the number of family members living with the applicant.

2021 Medicaid Resource Limits
  • 1 person household: $15,900
  • 2 person household: $23,400

These figures exclude irrevocable burial account, house, car, life insurance policy with face value of $1,500 or less.

What Is a Community Spouse?

A community spouse is the husband or wife of someone currently institutionalized or residing in a nursing home.  The community spouse generally resides in the couple’s home. 

2021 Community Spouse Resource Allowance

A community spouse is granted a minimum of $74,820, up to a maximum of $130,380. 

What is SSI?

Supplemental Security Income is a federally administered program assisting individuals who have reached an age of 65+ or have been legally classified as blind or disabled and meet specific income and resource tests, citizenship/qualified alien status and US residence requirements.

2021 SSI Resource Limits
  • 1 person household: $2,000
  • 2 person household: $3,000

These figures exclude irrevocable burial account, house, car, life insurance policy with face value of $1,500 or less.

How do these two programs affect funeral prearrangements?

New York State Social Services Law Section 209 and Section 366 mandate that all contracts for prefunded funerals established for applicants or recipients of Medicaid/SSI be irrevocable. An individual may have one irrevocable burial account for an unlimited dollar amount to be used for funeral and burial expenses. The applicant or recipient may also set aside funds in an irrevocable burial account for certain family members. The funds in an irrevocable funeral account are not considered an asset during the spend-down process. Once the purchaser has signed and agreed to the irrevocable nature of the trust agreement, the funds cannot legally be returned to that individual by the funeral director or financial institution holding the funds in trust.

In the event there is an overage in the trust account after the funeral has been provided, the excess funds must be sent to the county in which the person for whom the services were provided was residing and receiving assistance at the time of death. It is important to remember that although the funds in an irrevocable account may not be refunded, they may at any time be transferred to a different funeral home.

If you have any questions regarding preneed accounts for Medicaid/SSI recipients or applicants, please contact PrePlan at or 800.577.3752.

Revised Options for Death Certificate Submissions to PrePlan

Many of you are aware of the temporary revisions PrePlan made in early March due to the evolving COVID-19 pandemic for death claim submissions to our office. As of September 1, 2020, we will no longer be able to accept the temporary COVID-19 General Administration along with registered working copies of the EDRS Death Certificate in our office. We received many positive responses and going forward are pleased to announce that we can offer new options based from the feedback. These options continue to ensure our compliance on multiple levels and ensure prompt payment to your firm. You may begin using the option(s) that work best for your firm immediately.

Electronic Submission:
  • Call or email PrePlan ( to request that a secure (NeoCertified) email containing our newly revised General Administration form be sent.
  • Complete the General Administration form, review the indemnification, check box and sign to agree.
  • Attach/upload the completed General Administration form along with a copy of the Certified Death Certificate to the secure email. Please provide the Burial Permit if available.
  • Email the claim to PrePlan.
Mail Submission:
  • Complete our newly revised General Administration form, review the indemnification, check box and sign to agree. Enclose a copy of the Certified Death Certificate and burial permit (if available) and mail to PrePlan.
  • Complete our newly revised General Administration form, review the indemnification, check box and sign to agree. Enclose a Certified Death Certificate with an official seal and burial permit (if available) and mail to PrePlan. PrePlan will continue to return Certified Death Certificates with an official seal along with the payment or the firm’s weekly direct deposit report.

You can find the newly revised General Administration form here.

PrePlan will continue to have a same-day processing policy in place for death claims received Monday-Friday by 11:30am (excluding US holidays, and the first business day of each month). Please be advised that if the account has a pending payment, we are required to hold the death claim in a pending status until the recent payment clears (10 days).

This year has been unprecedented with an enormous amount of fluidity. PrePlan strived to meet your needs during these challenges and will continue doing so. Feel free to contact our office with any questions or concerns 800.577.3752.

Thank you for your continued trust. Stay Well.

Exciting News from PrePlan

We’re excited to announce that beginning July 2020 PrePlan is rebranding with a new logo, tagline and materials.

For more than 30 years PrePlan has served as New York State’s preeminent pre-funded funeral trust administrator. Following Governor Cuomo’s signing of our Preneed Trust Accountability Act into law in December 2019, New York State’s already best-in-the-nation preneed funeral trust laws were strengthened. The law also included a provision to allow funeral directors to receive a portion of the 75-basis point administrative fee currently allowed under the law, and PrePlan launched our 2020 Patronage Program.

Thanks to these exciting advancements, we felt 2020 was the perfect time to modernize our brand. As we move toward the future, it is important that our brand represents the forward-thinking approach of our board and administrators as well as conveys our commitment to security, compliance, and overall excellence.

Additionally, it is important for us to strengthen the relationship between NYSFDA and PrePlan. As a member of the association you have exclusive access to the services of PrePlan. Our new logo represents the integrity and commitment demonstrated by NYSFDA members and the security and stability of PrePlan’s services.

Finally, our new tagline The Gold Standard. is our promise to you. With PrePlan, your families’ preneed funds are 100% government backed. And an independent firm conducts quarterly audits ensuring all investments are fully secure and properly managed. Plus, our knowledgeable and experienced staff is well-versed in New York State preneed law and Medicaid/SSI compliance issues. Each and every day we strive to provide the best, most reliable service as your preneed funeral trust administrator. We strive for the Gold Standard.

Over the next several weeks you’ll see more and more of our new logo and updated materials. As we continue to share a few other exciting announcements and updates throughout 2020, please know that while we may look a little different we’re still providing the same exceptional level of service.

If you have any questions or would like additional information about PrePlan and our services, please reach out. We’re available at 800.577.3752 or and would love to hear from you.

As always, thank you for your membership and active participation in NYSFDA. We are honored to serve you and look forward to providing Gold Standard service now and in the future.

Coronavirus (COVID-19)

In response to the COVID-19 pandemic, PrePlan is working diligently to meet the needs of our members. One way you can help is by signing up for direct deposit of funds. PrePlan can securely deposit your firm’s death claim payments directly into your bank account. It’s safe, secure, and fast – giving you access to your funds the next business day after your claim is processed.

Cick here to download the authorization form and get started today.

Join PrePlan

Join PrePlan

Getting Started

For 35 years, PrePlan has served as New York’s preeminent pre-funded funeral trust administrator. Our knowledgeable and confidential staff are well-versed in New York State law and have been supporting NYSFDA members for decades.

Interested in joining PrePlan? Email and request an information packet. Remember, you must first be a current, active member of the New York State Funeral Directors Association (NYSFDA). Learn more about NYSFDA membership.

Transfer Existing Preneed Accounts

If you’re interested in transferring existing preneed trust accounts to PrePlan, our administrators will work with your firm to make a smooth transition.

Whether opening or transferring accounts, contact us today: 800.577.3752 or

Ensuring Accounts are Secure

As a funeral director, families trust you to make important choices on their behalf. When selecting a preneed funeral trust administrator, you need to ask some important questions before deciding where to invest your families’ funds. As their trusted advisor, it’s your responsibility to ensure their funds are safe, secure, compliant. View this quick video to learn more.

PrePlan Funeral Trust 2022. All rights reserved.