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Printing Grantor Trust Tax Statements

Printing Grantor Trust Tax Statements

A Step-by-Step Guide

All funeral homes registered to use our website, www.preplan.org, have the ability to print a duplicate tax statement for their consumers. The following is a step-by-step guide:

  • Click on the STATEMENT tab
  • Click on the TAX STATEMENTS link (located on the left side navigation menu)
  • Search for the contract using the available options
  • Click the SELECT link next to the contract number of the individual
  • Select the YEAR and TYPE OF STATEMENT (Abbreviated: same as mailed to consumer | Full Statement: listing fiduciary and advisory fee information)
  • Click GET STATEMENTS to download

Please consult the website after December 31 for more information regarding the date 2020 tax statements will become available online. Please note tax statements for the past three (3) years can be viewed or printed. Consumers will also have access to their tax statements once available. Please direct the account holder to the CONSUMER tab above. Upon log-in, they will be able to download their tax statement.

2020 Tax Information

2020 Tax Information

Q&A Grantor Trust Tax Information Statements

Q: The consumer lost their tax statement. Can I have another copy mailed to them?
A: Yes. The funeral home may call or e-mail a PrePlan administrator and we will mail out a second copy. The Funeral Home or consumer may also log-in above to download the tax statement. Click here for step-by-step instructions.

Q: What are the fiduciary and advisory fees listed on the preneed agreement for?
A:
As with any trust in New York State, Preplan is permitted by law to expend up to three quarters of one percent of the balance in the fund to provide the necessary services to operate and staff the trust. This is one of the lowest fees in the nation. In addition, a minimal advisory fee is also paid for the expert investment advice given to Preplan for the direct benefit of its customers. These terms are fully disclosed in the preneed customer agreement provided to all consumers.

Privacy Policy

Privacy Policy

At PrePlan, your privacy is important to us. While obtaining necessary information is the cornerstone of our ability to offer excellent services, PrePlan recognizes that our most important asset is our customers’ trust. We are particularly concerned about the privacy of each individual customer who obtains financial products and services from us for prefunded funeral prearrangement purposes. This brochure provides you with our privacy policies and practices with respect to the disclosure of nonpublic information about you. For purposes of this Privacy Policy, the term “we” or “us” refers to the PrePlan Trust, New York State Funeral Directors Association, Funeral Director Support Services, Inc., and their officers, directors, trustees, and employees.

Information We May Collect:

In providing you with financial products or services, we may collect nonpublic personal information about you from the following sources:

  • Information we receive from you on preneed agreements, preneed itemization statements, subsequent information change requests, and other forms and correspondence necessary to maintain your preneed account with the PrePlan Trust program.
  • Information about your transactions with us, our affiliates, and/or others.

Information We May Disclose and to Whom We May Disclose the Information:

We may disclose nonpublic personal information about you to our affiliates. These affiliates include the funeral home with whom you have established funeral prearrangements, state and federal tax agencies, and other members of our corporate family. We may disclose to our affiliates all of the categories of information we collect as described above. Except as stated herein, no information will be disclosed to nonaffiliated third parties. It is important to remember that we have no financial interest or ownership in any funeral home with which you may do business.

Our Security Practices:

We restrict access to nonpublic personal information about you to employees of the New York State Funeral Directors Association, employees of Funeral Director Support Services, Inc., document storage vendors, employees of the funeral firm with whom you have made funeral prearangements, and employees of state and federal tax agencies. Employees of the New York State Funeral Directors Association and Funeral Director Support Services, Inc., are trained in the importance of maintaining confidentiality and customer privacy. We maintain physical, electronic and procedural safeguards that comply with federal regulations and leading industry practices to safeguard your nonpublic personal information.

Former Customer:

Even if you are no longer a PrePlan customer, our Privacy Policy will continue to apply to you with respect to any nonpublic personal information which we may have in our possession. This Privacy Policy applies to nonpublic personal information about individuals who obtain financial products or services primarily for personal, family or household purposes. We reserve the right to change this Privacy Policy and any of the policies described above at any time. The examples contained within this Privacy Policy are illustrations only; they are not intended to be exclusive.

  • Nonpublic personal information means personally identifiable financial information that is not publicly available.
Closing Schedule

Closing Schedule

2021 Closing Schedule

  • Friday, January 1 – New Years’ Day
  • Monday, January 18 – Martin Luther King Jr. Day
  • Monday, February 15 – Presidents’ Day
  • Friday, April 2 at 1pm – Good Friday
  • Friday, May 28 at 3pm – Memorial Day
  • Monday, May 31 – Memorial Day
  • Monday, July 5 – Independence Day (observed)
  • Friday, September 3 at 3pm – Labor Day
  • Monday, September 6 – Labor Day
  • Monday, October 11 – Columbus Day
  • Thursday, November 11 – Veterans’ Day
  • Thursday, November 25 – Thanksgiving
  • Friday, November 26 – Day after Thanksgiving
  • Friday, December 24 – Christmas (observed)
  • Friday, December 31 – New Year’s (observed)

Why Trust PrePlan

Why Trust PrePlan

The Gold Standard. Our Promise to You.

For over 30 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.

Contact

Contact

Questions?

Call us at 800.577.3752
Or email preplan@preplan.org

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 Adminstrator will follow up with you.

News

News

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 preplan@preplan.org 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 preplan@preplan.org 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 (preplan@preplan.org) 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.
-Or-
  • 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 preplan@preplan.org 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.

News/Updates

News/Updates

PrePlan Patronage Program Details

Following Governor Andrew Cuomo’s signing of our Preneed Trust Accountability Act into law on December 12, 2019, PrePlan announced our Patronage Program for 2020. In addition to strengthening the already best-in-the-nation preneed funeral trust laws, the law includes a provision to allow funeral directors to receive a portion of the 75-basis point administrative fee currently allowed under the law. For Patronage Program Details, click here (NYSFDA member log-in required).

2020 Patronage checks were processed and mailed April 1st. Please call email (preplan@preplan.org) with questions.

Pre-planning Vs. Pre-funding

Pre-planning Vs. Pre-funding

Wondering what the difference is 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 as the strongest preneed trust laws in the nation. Learn more.

PrePlan Funeral Trust
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