Advance Funeral Planning
How do you want to be remembered? It’s an important decision. Preparing now by preplanning your funeral, before the need arises, puts you in charge of how you will be remembered and ensures your funeral will be meaningful for your loved ones.
While no one wants to think about their own death or planning a funeral, creating an advance funeral plan may bring peace of mind to you and your family. Advance funeral planning allows you time to understand the process, helps you make clear choices that are right for you, and shows your family that they’re well loved by alleviating financial and emotional burdens during a difficult time.
Reasons You Should Start Planning Today!
If left to plan your funeral, family or friends may be unsure of your wishes. If you create an advance plan, you will reduce the number of decisions your family members must make during a stressful time. Preplanning a funeral service helps remove the guesswork and the strain, allowing loved ones to focus on their grief.
Your funeral service should reflect your life and wishes while also offering comfort to your loved ones. Numerous decisions go into planning a funeral, including the type of service, disposition, location, and more. Planning your funeral in advance gives you the opportunity to decide which arrangements and service you prefer.
Over time, inflation will likely cause funeral costs to increase; in fact, the average inflation rate for funeral costs is 3.64% each year. But if you purchase a prearranged funeral plan, you may be able to protect yourself and your loved ones against the rising costs of funeral arrangements. Preplanned prices can usually be locked in at current rates, which could save your family thousands of dollars over the long run.
When you apply for Medicaid, Supplemental Security Income (SSI) benefits, or nursing home care, a prepaid funeral plan is considered an exempt asset. To qualify for government assistance, such as Medicaid, applicants must spend down available assets until they reach a qualifying level. In most cases, funeral plans are considered an exempt asset, which can help you qualify.