How To Choose a Funeral Plan

It may be a gift to those you love.  It was Ben Franklin who said nothing is certain but death and taxes.  This article does not deal with taxes, but rather the other certainty in life. 

Everyone dies, so a discussion of funeral planning is never irrelevant.  When someone we love dies, there are varying stages of anger, confusion, and numbness.  The funeral is one of the most significant means we have in dealing with grief.  The funeral ritual helps us focus our emotions and brings a sense of meaning to death.  It confirms the reality of death and provides a catalyst for mourners to talk about the deceased. Experts tell us being able to talk about the life of a deceased loved one is one of the first steps toward accepting death.

Perarranging your Funeral is not much different than any other planning you have carried out during your lifetime.  You buy insurance in case of fire, flood, theft and death.  These coverages are purchased as an act of love and responsibility for those you love in case an unfortunate incident occurs.

A pre-planned funeral accomplishes the same goals.  A preplanned funeral can prevent your family members from having to make a number of significant decisions at a time when they are confused and upset.  They will have enough on their minds dealing with grief without having to make several important decisions in a very short period of time.  Experts tell us that there are an average of 50 decisions to be made when arranging a funeral.

Adding the need to preplanning is the fact that our lifestyle is more complex in today’s world.  Family members often live in different states, complicating rapid decision making.  Further complications stem from frustrations that occur when dealing with government agencies in different states.  A solid preplanning session can help prevent these complications which can loom very large during a time of pain and sorrow.

How to plan:  A call to a funeral director or a pre-arrangement specialist probably would be a good beginning in making sure you have covered all your basis in your planning. He or she can lead you through a process to ensure you don’t forget vital information in your plan.  Some funeral directors and prearrangement specialists offer free booklets and provide a “punch list” of topics to think through and record your wishes. 

Topics in these guides include funeral details and ranging from visitation to the memorial service and alternatives from burial, cremation, or entombment.  These are obvious decisions, but other important topics include categories that will provide a helping hand to your family.

Additional topics include organizations to be notified with phone numbers, persons to be notified, medical history, estate information, banking information, real estate holdings and insurance policies.  Many include obituary information outlines, personal property inventories and special instruction and information pages.  There may also be information regarding the importance of your will and how to go about ensuring it is accurate and updated.

Prefunding your funeral also is an important consideration.  Your funeral director or prearrangement specialist can show you options which will waive your family from possible financial burden later.  You may take out a life insurance policy which would cover funeral expenses, or invest in a funeral trust account or final expense policy.  In most cases, funds invested today would be enough to cover the total cost of the funeral since interest earned by the funds will offset the effect of inflation.

Government regulations safeguard your investment so funds will always be available for use.  Another important part of your plan is to make sure your loved ones know where your recorded wishes can be found.  Millions of dollars in government and insurance death benefits go unclaimed because family members do not know where to find information they need at the time of death.  Some considerations that also need to remain in the forefront of the pre-planning agenda.

Social Security – When a loved one dies, dependents and survivors may be eligible for certain benefits such as death payments, survivors benefits and Medicare.  Qualifications depend on several factors such as age, marital status, number of dependent and whether employment was under Social Security.  Your Social Security account should be verified periodically to ensure contributions are posted.  All benefits must be applied for since payments are not automatic.

Veterans Benefits – Honorably discharged veterans are entitled to benefits that may affect decisions about funeral arrangements.  For example, veterans may qualify for a cemetery plot and burial allowances, a headstone, and burial flag, as well as pensions for survivors.

Medicaid – Having a properly structured prepaid funeral is a very important reason why preplanning  a funeral is imperative.  If an individual has placed their funds into a prepaid funeral plans, after they have itemized a funeral pre-arrangement, the money would most likely be protected 100% from paying for any nursing home costs.  In most cases they can also pay for burial space items for their immediate family members.  Each persons situation is unique and laws change, however, most funeral directors and pre-arrangement specialists work closely with Elder Law Attorneys who keep them updated on current Medical Assistance Laws.

We recommend looking at  An irrevocable funeral trust (IFT) is a tool that prevents a overly zealous funeral director from misusing your prepaid funeral funds.  Additionally, should you need medicaid assistance the IFT prevents those individual’s assets from being confiscated or forced to be spent down in order to receive government assistance in paying for care over an extended period in a nursing home or long term care facility. 

To read more click here:  http://annuitynews.net/2009/11/16/pre-need-funeral-trust