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An irrevocable trust is primarily made when the beneficiary of the trust is in the process of applying for medical benefits. This enables the beneficiary to use their own assets to pay the full price of a funeral. The assets are sheltered from Medicaid. This medicaid "spend-down" normally takes place at the request of a social worker at a nursing home in order to protect the clients assets.
The total dollar amount of an irrevocable trust must be used for the funeral. If there is any money left over, it is NOT refundable to the family, it must be paidto an indigent burial fund.
This trust is not refundable to the family if they decide to move or go to another funeral home, but they do have access to the fund wherever they go.
Both revocable and irrevocable trusts are transferableto any other funeral home.