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The agreement by the purchaser with the funeral home constitutes a purchase, even if revocable in whole or part. The contract nearly always includes burial spaces, which are excluded assets. The contract is not: • An installment burial contract. • An insurance funded burial contract. • Divestment as the funds transferred are in exchange for equal amounts of goods and/or services. In determining countable asset value: 1. Deduct first the amount considered as irrevocable under Wisconsin law and the Medicaid state plan (see SECTION 16.5.1) up to a maximum of $4,500. 2. Deduct next the amount equal to the value of all burial spaces purchased by the contract. Remember that "burial spaces" includes caskets and outer burial containers, vaults, liners, etc. 3. Deduct any amount that can be included in the applicant's or member's burial fund. 4. The remainder is the countable asset. Example 9: Total Contract Value = $6,700 Amount Designated as Irrevocable = - $4,500 ________________ $2,200 Value of Excluded Burial Spaces = - $1,300 ________________ $900 Amount of Excluded Burial Funds*= - 0 ________________ Countable Asset = $900 * The amount of funds that may be excluded as the $1,500 "burial fund" is reduced by any amount of cash value in his or her life insurance and the amount of irrevocable burial trust. Whenever the burial contact specifies $1,500 or more as irrevocable, no funds can be excluded as "burial fund."

Example 10: Total Contract Value = $4,200 Amount Designated as Irrevocable = - $1,300 ________________ $2,900 Value of Excluded Burial Spaces = - $1,300 ________________ $1,600 Amount of Excluded Burial Funds* = - 200** ________________ Countable Asset = $1,400 **This example assumes that the person has not identified another insurance or irrevocable burial funds toward his or her "burial fund." The $1,500 maximum burial fund allowance, less the $1,300 this contract makes irrevocable, leaves room for an additional $200 to be allocated to the "burial fund". Note that in Example 1, the purchaser was able to achieve a higher exemption. 16.5.6.1 Statement of Funeral Goods and Services The U.S. FTC requires funeral directors nationwide to use a "Statement of Funeral Goods and Services" as a way of indicating to their customers what is being purchased and their charges. This form looks like the first page of the WFDA preneed funeral contract. WFDA has advised their members to complete and