Pre-Planning
Why Pre-Planning is a Smart Choice
Nobody wants to spend their day visiting a funeral home. Especially if no one has died. Today and everyday thousands of people make plans to meet with a funeral professional to make sound plans and leave clear instructions for when the time comes.
The reason they do is simple. Because they want help their famlies in one last way by taking care of the funeral arranges and keep them from have to stress over important details in a what will be one the most difficult situation they will face.
There was a point in time when pre-planning wasn’t even considered. That posture has changed considerably over the last few years. One the most compelling reasons is that many financial experts recommend pre-planning a funeral as a very practical and sound way for an individual to alleviate a major financial burden his or her survivors will encounter. There are some solid financial benefits for those considering funeral pre-planning, many vary by your current financial situation, stage of life and final wishes. Planning ahead can help you relieve your survivors of a sudden expense or taxes to be paid.
The modern funeral now incorporates individualization, by pre-planning a person can control what they want to remembered for that can offer one statement of how they cared for the loved they have left behind.
There are some detailed reasons why you should consider pre-planning a funeral below.
Pre-Planing Can Save Money
Save money by pre-planning and pre-paying for funeral services:
Instead of adding money to a piggy bank pay funeral expenses, there are many financial instruments for you to pre-pay for funeral expenses. These options offer two major benefits. First, you can lock-in the cost of most funeral services at today’s prices. This will cover inflation and the increased costs of a funeral service that will be held in the future. Check with your funeral director to determine which prices are guaranteed and which are not.
Secondly, if you pre-pay for a funeral, your family will be relieved of the burden of having to come up with the funds on short notice. With the average cost of a funeral now averaging $7,000, a pre-paid service can be a major relief for a family that is strapped for funds at that time. With many life insurance policies, especially large ones, it may take weeks for the claim to be processed and the money sent to survivors. In the case of a will, there is still a time delay. If someone in a family disputes the will, it could take months or even years to reach a settlement and release the funds.
One important item to consider - what to do with the pre-plan policy.
Now you can see why there is this national trend where consumers are choosing to sit down with a funeral director or pre-arrangement counselor to pre-plan and pre-pay for funeral services.
But one special note: be sure that when you pre-plan and pre-pay for a funeral you let your family know the details and which funeral home or financial institution handled the arrangements. Leave the information in a convenient place, preferably not a safety deposit box at a bank but some place that is accessible and will be seen by the surviving family members. One woman wanted to be doubly sure her survivors found the details of her pre-planned services, so she hung the information in a picture frame on her living room wall! You do not have to go to that extreme, but be sure the information can be obtained easily. Also, do not leave the information in a will as wills are generally read days after the funeral service. The funeral home, cemetery and other entities will want to be paid sooner.
There are three ways to pre-pay a funeral. One is to just establish a simple savings account that is held jointly with a funeral home. The key is to be sure the interest earned on the account covers the rising cost of the funeral service. But there are other more sophisticated products you might want to explore. Each one has it advantages. They are pre-need insurance and pre-need trust accounts
Relieves a Major Burden on Your Loved Ones
There is an incredible amount of emotional stress on a family when a death occurs. In addition the grief and anxiety survivors face when a loved one dies, they must make several difficult decisions. They have to find a funeral home. They have to choose between burial or cremation, caskets, flowers, urns, music, clergy, what to put in the obituary and dozens more tough decisions.
While making the choices there is one thought they ask themselves, “What would the deceased have wanted?” The answers are easy for families when they not under any emotional stressers. There have been situations where the stress will create family arguments, crying and mental exhaustion from making these decisions while they are in shock.
By pre-planning a funeral with a professional a person make many of these decisions in advance. This way the family can grieve and concentrate on helping each other through the healing process.
Pre-planning a funeral does take some time and effort. A licensed funeral director can easily walk you through the procedure. But that time and effort will be offset tremendously by the peace of mind one will experience knowing that in the future, your family will be relieved of this emotional and financial responsibility.