- Below is a quote from someone, (I removed the name to protect) who decided to protect their assets over a year ago. At the time who would have thought the IRSMessage 1 of 1 , Mar 4 8:08 AMView Source
Below is a quote from someone, (I removed the name to protect) who decided to protect their assets over a year ago. At the time who would have thought the IRS would go after a pre-paid contract leaving someone no way to have funeral!
"The IRS sent a letter to the Funeral Home where my wife has a pre-paid funeral policy. The Funeral Home sent her a letter wanting to cancel her policy and send the money to the IRS. When they were informed that the policy had been placed in a Contract Trust and she no longer owned the policy the funeral home asked for a copy of the assignment. When it was given to them, they informed the IRS they couldn't honor their request because she no longer owned the policy.
Maybe this will help those similarly situated plan in advance.
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