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Community Connections Home > Financial > About > Burial Funds
Overview
A burial fund is money set aside to pay for burial expenses. This money can be in a bank account, trust fund, or a prepaid burial plan.
Does a burial fund count as a resource for SSI?
Generally, an individual and their spouse (if applicable) can set aside up to $1,500 each to pay for burial expenses without having that money count as a resource for SSI. Any amount over $1,500 may be counted as a financial resource when reporting resources for SSI eligibility.
Does interest earned on a burial fund count as a resource or income for SSI?
No. Interest earned on a burial fund that is left in the fund does not count as resource or income for SSI, and does not affect a person's SSI benefit.
How can you set up a burial fund?
Any account set up must clearly show that the money is set aside to pay burial expenses. This can be done by:
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giving the account the title of "burial fund"
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signing a statement saying:
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how much has been set aside for burial expenses
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for whose burial the money is set aside
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how the money has been set aside
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the date the money was first considered to be set aside for burial expenses
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Other Information Links
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Understanding Supplemental Security Income (SSI)
http://www.ssa.gov/notices/supplemental-security-income/text-understanding-ssi.htm
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This page last updated: Sunday, November 25, 2007