WAG 07-02-10: Interest on Burial Funds and Burial Spaces

PM 07-02-10

Interest on burial funds may be exempt.

Example: A client's burial trust is valued at $1,895. The client has received SSI since May 1993 and purchased the prepaid in August 1993. Originally $1,750 was deposited in the trust. The trust has earned $195 in interest since the client began receiving SSI. The $1,895 burial trust is accounted for as follows:

$1,500 is exempt prepaid burial, $195 is exempt as interest, and the remaining $250 is nonexempt and applied to the asset limit.