Irrevocable Burial Accounts (IBA) are accounts set up for the sole purpose of providing funds for an individual’s funeral and burial expenses. These funds are not considered as assets in determining eligibility for SSI (Supplemental Security Income) or Medical Assistance. IBAs are subject to specific dollar limitations, typically between $7,500.00 and $10,000.00, although counties or states often have required limits.
Benefits of an IBA
- No possibility of state escheatment
- No possibility of funeral home malfeasance
- Can be used to pay any funeral home
- No minimum funding limits
- Low, straightforward fees
- No complicated application forms
An IBA with RCFS
Funds are deposited by sending checks made payable to River Communities Fiduciary Services, Inc. with “IBA for individual’s name” written on the memo line of the check. Funds are deposited in money market accounts and quarterly statements are provided.
If you would like to establish an account, please fill out the form below or call us at (724) 385-8492.
To learn more about Irrevocable Burial Accounts: visit “What Is An Irrevocable Burial Account?”
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Topics
Supplemental Needs Pooled Trust
Third Party Supplemental Needs Trusts
Medicaid
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Health Care Agent (POA)
Financial Planning
Supplemental Security Income (SSI)
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Guardianship
Irrevocable Trusts
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