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available to the individual if the contract is revocable; however, the $1500 exemption explained above is applicable. Refer to Section 2615.20.15 for information regarding funeral trusts.

Funds set aside in a financial institution and designated for burial are counted as a resource to the individual. 2615.20.15 FUNERAL TRUSTS

A valid irrevocable Indiana funeral trust is an exempt resource regardless of the value of the trust.

Indiana's funeral trust statute is found at I.C. 30-2-10 et seq. and applies to funeral trusts established on or after July 1, 1982. I.C. 30-2-9 et seq. is applicable to funeral trusts established after June 30, 1978, but before July 1, 1982. The DFR must determine that an Indiana funeral trust is valid and irrevocable in accordance with the criteria specified in the applicable statute. The value of the trust must also be verified.

Interest earned on an irrevocable trust is also exempt if the interest accrues to the principal of the trust.

Irrevocable funeral trusts may be reviewed by the DFR attorney if necessary.

A funeral trust established in a state other than Indiana must be evaluated in terms of that state's laws. Such a trust may or may not be irrevocable. 2615.20.20 BURIAL PLOTS (S)

A burial space that is purchased for the burial of an AG member is exempt. Only one burial space is allowed per AG member. (f4) 2615.20.20.05

BURIAL PLOTS (C)

A burial plot for each participating member of the AG is exempt. This includes a conventional gravesite, crypt, mausoleum, urn, or any other type of repository. (f5) 2615.25.00 INSURANCE

Insurance policies owned by an individual may affect eligibility and must be identified and evaluated. Some types of insurance that may be taken into consideration are: • Life Insurance; • Casualty Insurance; and • Indiana Long Term Care Insurance

Sections 2615.25.05.05 through 2615.25.15 discuss how these types of insurance are treated in the eligibility determinations for the different assistance programs.

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Official source

available to the individual if the contract is revocable; however, the $1500 exemption explained above is applicable. Refer to Section 2615.20.15 for information regarding funeral trusts.

Funds set aside in a financial institution and designated for burial are counted as a resource to the individual. 2615.20.15 FUNERAL TRUSTS

A valid irrevocable Indiana funeral trust is an exempt resource regardless of the value of the trust.

Interest earned on an irrevocable trust is also exempt if the interest accrues to the principal of the trust.

Irrevocable funeral trusts may be reviewed by the DFR attorney if necessary.

A funeral trust established in a state other than Indiana must be evaluated in terms of that state's laws. Such a trust may or may not be irrevocable. 2615.20.20 BURIAL PLOTS (S)

A burial space that is purchased for the burial of an AG member is exempt. Only one burial space is allowed per AG member. (f4) 2615.20.20.05

BURIAL PLOTS (C)

A burial plot for each participating member of the AG is exempt. This includes a conventional gravesite, crypt, mausoleum, urn, or any other type of repository. (f5) 2615.25.00 INSURANCE

Sections 2615.25.05.05 through 2615.25.15 discuss how these types of insurance are treated in the eligibility determinations for the different assistance programs.