Prearranging Your Funeral
We plan for our vacations, the education of our children, our retirement. It makes sense to include funeral arrangements in our life planning activities as well.
Preplanning protects your family from facing complex decisions at a time when peace of mind is extremely important. And, if you elect to pre-pay your funeral, your costs will be secured at today’s prices, enabling you to further protect your family from dealing with unexpected expenses.
But another equally important reason to preplan is that you may specify exactly the type of funeral you desire, and consider those many decisions at your leisure, in the comfort and privacy of your home. To begin your planning process, click here to access our online form that allows you to document your wishes, or to contact us for more information. Of course, we are always available to meet with you to explain and discuss the many commemorative options that are available.
Why Plan Ahead?
“Always Plan Ahead; It wasn’t raining when Noah built the Ark.” Richard Cushing
Planning ahead is always a prudent idea. It provides peace of mind in knowing that you are prepared, especially for those life events over which we have no control. Many major decisions and purchases require careful consideration of the emotional and financial impacts they may have. In your lifetime, you will most likely purchase 6-8 automobiles, 3-5 houses, and 1-3 funerals. A funeral can be among the most emotional experiences that we go through. Properly planned though, it can be a celebration of life, and a reflection of the individual. Left to the time of need, surviving family members can be overwhelmed by questions and second thoughts and oftentimes, finances can be depleted because of a long illness or because the estate was not properly protected. Planning ahead encompasses many different aspects. It really goes beyond having a will prepared or purchasing life insurance. There are many different pieces of information that need to be gathered as well as several decisions that need to be made pertaining to services and merchandise. No one likes to be forced into making quick decisions. Most people want to investigate their options before making any important decision, but when a death occurs, and no plans are made in advance, there is an urgency created. Oftentimes, other family members are scattered about the country, which makes it that much more difficult. Decisions have to be made rather quickly, and not always in the best frame of mind. There is the added stress of where the money is going to come from.
Planning ahead eases those worries by having decisions in place. Ask yourself this one question: If my death were to occur tomorrow, who would be making the arrangements and where would the money come from?
Frequently Asked Questions
What happens if I plan with you, but then I move away?
If you have a plan in place with Rest Haven Funeral Home and you permanently relocate in the future, we can help make the transition to your new area as smooth as possible. All of your personal information and choices are in your confidential file with us. That file can be transferred to a funeral home in your new area. If you move, but will have services and burial here, we will coordinate the details with the funeral home in your new area. People who have also guaranteed their costs by prepaying, may be concerned about what happens to the money if they move. The funds are held under your name in a trust or insurance policy. The only time they are released is when the death occurs and the survivors designate which funeral home provides the services. Therefore, the funds are safe and you maintain control.
I have insurance. Do I still need to prepay?
Some people want to use their existing insurance policies to pay for their funerals. Here are some things to consider:
- The cash value in certain types of insurance policies may be considered an asset if applying for Medicaid/Title 19 in the State of Texas, and the state could make you cash in those policies.
- Was the insurance policy specifically meant to pay for your funeral expenses, or was it also meant to be used by your family to cover on-going living and/or educational expenses? Those proceeds could also be held up in Probate when the death occurs and may not be readily accessible. This oftentimes creates an unnecessary hardship.
I already have a will. Isn’t that enough?
Having a will is one of the first steps in Advance Planning. Wills are not usually read until after the funeral. If you have a will, you may want to record those same funeral wishes with a funeral home, so that the family will not have to make those decisions at such a stressful time. In addition, most wills do not specify what type of casket, vault or urn is desired. Choosing those items at a time of need can be emotionally difficult.
My children have said not to do this.
That is a natural response from many children and other family members. What they are really saying is that they do not want to talk about such a difficult subject right now. If you have never had an experience making funeral arrangements before, it is hard to imagine just how difficult making decisions at a time of need can be. Family members may not know it now, but planning ahead is a great gift to them.
I really don’t have the money to prepay right now.
Prepaying is not mandatory when preplanning, but we do offer several affordable options. A very good alternative to paying in full is the monthly payment program which, because of our own insurance licensing, we can offer. This allows you to pay a monthly payment on either a 3, 5, 7, or 10-year plan. Should you choose an insured plan, all or a good portion of the funeral costs would be covered through insurance protection should death occur during the payment period. Many people are taking advantage of this plan, reducing emotional and unnecessary financial burdens for their loved ones.
What if I make pre-arrangements and later change my mind?
One of the great things about advance planning is its flexibility. All of the information that you record with us and the choices that you make can be updated and/or changed at any point.
Funding Options
It is a fact of life that inflation affects everything; home costs, automobile purchases, and even funerals. Though we strive to keep cost increases to a minimum each year, it will make an impact many years down the road. We realize that making funeral arrangements is not something you do everyday, so when you do have such an experience, it can seem overwhelming. That is why we developed our Preneed Planning Program. In addition to the many reasons why it is important to make plans ahead of time, there are just as many reasons why you should consider prepaying as well. We are aware that there is more and more information available today regarding preplanning, life insurance and social security benefits, but oftentimes the information given, especially on television, can be misleading and confusing because it is not directly from funeral professionals. Listed below are the differences between the various funding options that, when properly arranged, can guarantee funeral home costs against inflation.
Insurance:
Not all funeral homes offer insurance as a payment option for pre-arrangements. Our licensing and education enables us to offer certain types of insurance policies that are designed to keep pace with inflation. They are not your traditional insurance policies that have a fixed death benefit that never increases, and you don’t need to purchase ‘units’ of coverage. These policies have a 30 day free look, are tax-free, transferable to any funeral home if you move, and can be set-up to be protected from the Title 19 spend down.
There are a few options with these types of policies.
- Single payment: You make one payment that matches your selected funeral arrangements. This will guarantee your funeral home costs against inflation and your survivors will never need to make another payment.
- Monthly payment: Like traditional insurance, there are payment options available. Unlike some traditional insurance policies that you may be familiar with, you only make the monthly premium payment for 3, 5, 7, or 10 years. You choose which plan is best for you according to your age and budget. You will not only guarantee the funeral costs against inflation with these plans, but you also have the chance to have an affordable monthly premium payment with insurance protection built right in. Insurance funded prearrangements are offered through Forethought Life Insurance.
Trust Funded Funerals
Trust funded funerals are a good option if insurance is not desired, and may be prearranged through Rest Haven Funeral Home. A funeral trust freezes costs at today’s prices, and can be paid out for up to 60 months. There are no fees associated with a funeral trust, but, because they are not insurance policies, if death occurs prior to payment in full, the balance remaining must be paid at the time of need. Unlike an insured plan, the purchaser of a trust-funded funeral may at any time designate another person as the funeral recipient. In order to protect this valuable asset, trust agreements may be made irrevocable.
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