2-009.07A3 Funds Set Aside for Burial
A specified maximum may be disregarded if it is set aside for the purpose of paying burial expenses. The individual may choose to put the money in:
1. A pre-need burial trust. If the client has an irrevocable burial trust for more than the specified maximum, the excess is considered an available resource;
2. A policy of burial insurance. If the client has irrevocably assigned more than the specified maximum in burial insurance, the excess is not an available resource but may be a deprivation of resources (see 469 NAC 2-009.10); or
3. A maximum of $1,500 designated for burial (see 469 NAC 2-009.07A3c). These funds may be in an account or in an insurance policy.
If the client has a combination of an irrevocable burial trust, and/or burial insurance that exceed the specified maximum, see 469-000-310 to determine how to treat the excess. An individual may transfer funds from an irrevocable burial trust fund into an insurance policy if there is no lapse of time between the withdrawal and the transfer.
See 469 NAC 2-009.07A3d for the treatment of burial spaces and burial space items.
2-009.07A3a Irrevocable Burial Trusts