Choosing revocable or irrevocable for your prepaid funeral plan likely will depend on your personal goals and financial situation.
It’s common to choose revocable if:
- You want maximum flexibility.
- You may need to cancel or change your plan in the future.
- You’re not currently concerned with Medicaid eligibility.
With a revocable plan, you stay in full control. If you choose to cancel your Precompose Plan, you’ll receive a refund of 90% of your payments plus any accrued interest—no red tape or penalties.
It’s common to choose irrevocable if:
- You’re planning for Medicaid eligibility.
- You want to protect your funeral funds from being counted as assets.
- You’re sure you want to keep your plan in place.
Irrevocable plans are often excluded from Medicaid asset calculations, which can be a strategic advantage when qualifying for long-term care coverage. However, they cannot be canceled or refunded once established.
If you’re unsure, we recommend talking with a financial planner or Medicaid advisor—especially if you’re navigating long-term care or asset protection.