Pre-Planning is an Act of Love.
1.) Informed decisions are easier to make under less stressful conditions.
2.) It assures that your wishes will be carried out.
3.) Difficult financial burdens are eased through thoughtful pre-need planning.
4.) There are countless other difficult duties that demand immediate attention on the day of bereavement.
5.) It eliminates desperate haste and unchangeable decisions.
6.) It eliminates wrong decisions by well-meaning “friends and relatives.”
There are many reasons to pre-plan your funeral, non more important that your family. By pre-planning, you spare your family difficult decisions at a difficult time. They will not have to search for records, insurance policies, addresses and other important items. You will also eliminate their doubts. Wondering what you would have wanted is an added burden for your family members who already dealing with grief from their loss. These are only a fraction of the reasons you may want to pre-plan your cremation or funeral services.
There are two options available for pre-financing a Cremation-Funeral Service.
1.) Bank Trust Accounts: All funds received by the funeral home are placed in a 100% trust through a local bank in a certificate of deposit. All interest accumulates to the account until drawn out with a certified copy of the death certificate.
2.) Funeral Insurance: Also 100% trusted, this vehicle is an insurance policy or an annuity. There are several insurance companies that offer funeral insurance plans. These plans allow the beneficiary to use the policy proceeds to pay for funeral expenses at the time of need. This plan would be the recommended method if you wanted to avoid taxable interest.
If is often necessary to place a person on medical assistance as his or her assists dwindle. When funds are depleting, a spend-down of remaining assets begins in a an effort to qualify for financial assistance. An acceptable spend-down is a funeral pre-paid agreement. In this situation certain spending limits are required and a Kramer Family Funeral Home staff person can advise you on the ways to place funds in trust and qualify for medical assistance.
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