Does your estate planning include funeral plans?

On Behalf of | Sep 2, 2021 | Estate Planning | 1 comment

When you dive into your estate planning, there might be a lot on your mind: trust funds for your loved ones, wills for your property and making sure someone you trust has the authority over your health if you ever need it. But another important part of your estate planning involves your funeral.

This planning revolves around your inevitable death date and when it happens, it may be in your best interest to plan everything about your funeral services in advance. That way, while your loved ones grieve, they do not also have the added pressure of planning your funerary arrangements.

Pre needs for the prepared

If you have a funeral home or cemetery in mind already, there is an advantage to planning out your funeral services ahead of time with the directors at that funeral home. When you apply for a preneed, you can choose whether burial or cremation is right for you, where your plot is if you choose burial, and what kind of service you want for your loved ones shortly after your death.

The funeral directors have plenty of options and have the qualifications and care to walk you through the exact nature of your service.

Funeral trusts for advanced payment

If you have the money right away, you may pay it all down so it is out of sight and out of mind. But oftentimes, as FuneralWise details, you may consider a funeral trust for your service needs. These are accounts where the funeral home is the beneficiary of your money for the purpose of your funeral service.

When planning your estate needs, there are benefits to paying for your funeral in advance. It is important to always communicate with your loved ones and lean on your estate planning resources when making these big decisions to make sure the agreements clearly convey your wishes.