Benefit of Pre-Planning a Funeral

People make Wills because they don’t want to leave their family with a financial burden. A Will ensures debts are paid and loved ones are left with income security. But even still, families often get stuck with a big bill after a funeral.

 

Here are a few common reasons for this:

 

  • The deceased didn’t plan for the funeral
  • The family didn’t select the right funeral options
  • Funerals are just plain expensive

People often spend more money on funerals for their loved ones than on their own. It’s not unusual to see children spend more than their parents would have liked.

 

Why does this happen?

 

Simple: they’ve never been told what their parents would have wanted. And they end up planning the funeral while they’re grieving, which is hardly the best time to do it. Everyone could have saved time, aggravation and money if the parent had pre-planned his or her funeral.

 

The Executor: Master of Your Fate

 

When you prepare a Will, one of the first things you do is to appoint an executor. The executor is responsible for dealing with your remains. Whether you want a traditional funeral and burial, or cremation with the ashes scattered, the executor takes care of it.

 

Pre-planning your funeral will only make an executor’s job easier. It will also head off potential disputes in your family.

 

Benefits of Pre-Planning a Funeral

 

  • Costs nothing
  • Provides peace of mind
  • Relieves family members of difficult decisions
  • Prevents family disputes
  • Lets you speak to a funeral director about every last detail

Remember: If you don’t let your wishes be known, your loved ones will have to guess what you would have liked. This is potential fodder for family arguments.

 

Pre-paying a Funeral

 

Will I get a better deal on a funeral now than in 10 or 20 years?

 

You bet.

 

The average cost of a funeral in 2010 is $10,000. In the next few decades, this amount will increase substantially. It will never be cheaper than it is today.

 

But you’re probably thinking, “Why would I pay for a funeral today when I don’t even know where I’ll be living in 20 years?”

 

And, of course, “How do I know if the funeral home will still be around?”

 

Good questions, but there are reassuring answers.

 

When you pre-pay a funeral, you’re not usually giving money to a funeral home. You’re buying an insurance policy from an insurance company. The funeral home sells you the policy.

 

What does that mean? It means that if the funeral home goes bankrupt, your purchase is safe. Also, in most provinces, money paid for a funeral is held in a trust that is separate from the funeral home.

 

Pre-payment plans are generally portable. If you move from Ottawa to Victoria your funeral will be paid for in Victoria even though you bought it in Ottawa.

 

And if you die while travelling overseas, pre-payment plans will generally cover the cost of repatriating your remains. In some plans, this feature kicks in when you are 100 km or more from your home.

 

Plans vary from company to company, so shop around. Like Wills On Wheels lawyers, most funeral planners will meet with you at your home. For more information, contact a local funeral home.
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