Prepaid funeral expenses can reduce the stress on your loved ones during a very difficult time. It’s never too early to start thoughtfully considering what your wishes may be. Preplanning and prepaying your funeral expenses is definitely something to consider, and it may even save you money in the long run. Here are some things to keep in mind as you consider the future:
Explore Funeral Homes that Offer Prepaid Funeral Expenses.
The best way to explore the possibility of prepaid funeral expenses is to talk with the experts. Set up meetings with local funeral directors to see what options they can offer their customers. The right funeral home will be completely transparent about their pricing, and will be willing to try to work with any budget. Choose a plan that has no hidden fees, and no extra money due upon your death, regardless of price increases since you purchased the plan. Some plans are transferable too, in case you relocate.
Put your wishes in writing ahead of time.
Save yourself and your loved ones money by taking the guesswork out of your funeral plans. Figure out your wishes, put them in writing, and communicate them to your loved ones as soon as you can. This kind of clarity will help you avoid unnecessary expenses when the time comes.
Consider opening a payable-on-death account (POD).
One way to ensure that there is money available to pay for end-of-life expenses is a setting up payable-on-death account (POD) with your bank. Make the person who will be handling your funeral arrangements the beneficiary, and communicate your plans to them in detail. You will maintain control of your money while you are alive, but when you die it will be available immediately, without having to go through probate.
Purchase a grave plot or now.
A sure way to save money on future end-of-life expenses is to go ahead and purchase your final resting place now. These can often be obtained via a low monthly payment. Prices on such things will inevitably rise as the years go by, so taking the time to invest now will save your loved ones money and planning when the time comes.