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Five Reasons Why Pre-Planning Final Expenses is Important

1) Ease the Burden on Your Family

If your wishes are unknown when you die, they will be faced with making difficult decisions at a trying time. Will they know if you wish to be buried or cremated? Will they agree on an open or closed casket? Will they agree on how much to spend? Confusion and disagreements are common occurrences when there is no plan to follow. You can avoid this by leaving behind a plan.

2) Have Financial Planning Responsibility

You want to assume the financial responsibility for your funeral. Planning ahead enables you to make financial arrangements to cover your funeral costs. Even if you are leaving behind sufficient money, will your survivors be able to access it? Funeral insurance and funeral trusts are sound financial planning options you can consider ahead of time.

3) Avoid Short Range Last Minute Planning

You want your family to have the benefit of a meaningful funeral. A funeral is an important event for a grieving family. Psychologically, it provides a sense of closure and enables the family to begin the healing process. Families benefit emotionally and socially by honoring the lives of their loved ones with a fitting ceremony and by giving them a proper send off. It is difficult to make the funeral the best it can be when planning it in a short time.

4) Your Final Wishes are Known and Honored

You want your final wishes to be followed. If you have specific preferences for the disposition of your remains and the nature of your funeral services, you can clearly express them in your funeral plan. You may have a preference for burial or cremation, the epitaph on your headstone, or the music and readings at your funeral. Or you may not want a funeral ceremony. Whatever your wishes, they need to be set forth in your funeral plan.
You want to be self-reliant and have your affairs in order at the end of your life. Taking care of your funeral arrangements is a thoughtful and caring thing to do for your family. It is comforting to know that you have done all you can do to ease their burden. And you can be assured that they will appreciate that your caring for them continued after you are gone.

5) Peace of Mind

By planning in advance it will remove the emotional, as well as the financial, burden so family members won’t have to wonder, “Did we do the right thing?” Wouldn’t it be nice to know this is taken care of today, before the need arises, and with the support of those you love?

Additional Benefits of Pre-Planning

Financial Security – Often individuals provide for final expenses using their saving or by relying on friends and relatives for financial assistance. Prefunding eliminates the stress associated with your funeral payment – Do you really want to leave your loved ones with an unexpected financial burden? Planning in advance and outlining your funeral plans allows you and your family to know exactly what the costs will be.

- Payment Options – Different plans allow you to decide what is right for your budget. You can set aside funds in periodic payments or chose to pay all at once. Most people choose to fund through either an insurance plan or trust, each providing different advantages.

 - Personalized Celebration – Personalizing based on how you would like your life celebrated and how you want to be remembered. Have you always loved tulips, but you always receive roses from your family?

 - Organize Important Data – Are you the organizer in your family? …… Do you have a single place to keep all that really important information? Not just funeral and cemetery information but family and friends, medical information, financial information and of course your wishes, thoughts and your personal service plans—e.g. burial or cremation.

 - Family Harmony – Having a plan in place will eliminate the need for your family to determine who is responsible for, or capable of, paying for your services – saving them from potential disagreements. Planning ahead can also save you hundreds if not thousands of dollars.

 - Exemption of Assets – Insured prearrangement funds set aside to pay for funeral costs can be set up to be exempt from consideration of assets in the event you need to qualify for public assistance. With the vast majority of medical expenses being incurred in the last 5 years of life, having a funded plan in place will allow you to protect your net assets.

 -  It’s Transferable – Don’t know for sure you are going to be living where you are living now forever? If you should move, your insurance coverage is transferable, allowing you to move the coverage as need during your lifetime and keep your coverage.