Monday, April 30, 2012
Burial Trusts in Wisconsin
Catching up on my work related reading last week, I noticed that as of February 1, 2012, regulations related to Wisconsin Burial Trusts had changed. Under the new law an individual can put $3,000 into a burial trust and still qualify for MA. In addition, friends and family can add $1,500 to the trust. The article I read (by Roy Froemming) points out that this actually limits contributions of friends and family. Larger amounts can be set aside via burial insurance, which is a different vehicle. Oddly, the new law is based on regulation of the funeral industry, and is not drive by State of federal MA laws. Strange, but that is often the case with the law.
As a reminder, a blog is not legal advice. Laws are in constant flux. It is best to consult with an attorney in your state prior to taking action.