Most of us plan for the possible misfortunes
of life, yet few of us prepare for the inevitable. Many individuals
and families are making the decision to prearrange and pre-fund
their funerals before the need arises.
The advantages of funeral planning make sense.
Planning Your Funeral:
Provides a peace of mind
Relieves your loved ones of unnecessary concern
Assures that your wishes are known
Eases the financial burden on your family
The Purpose Of A Funeral A
funeral service fills several important needs in today's society.
First, it provides for the respectful care of the deceased, by
providing a special tribute to a unique life. Equally important the
funeral service helps survivors face the reality of death -- the
first step in overcoming grief. A funeral brings together relatives
and close friends who can lend support and comfort when needed most. A
funeral also gives friends and relatives the opportunity to express
the love and respect they feel for someone who was very important to
them. Just seeing how much others cared can be a tremendous help to
a family adjusting to their loss.
Providing For The Funeral
The
Benefits Of Planning Ahead
Pre-arranging your funeral allows you to plan and fund (or know what will need to be funded) your funeral before the need arises.
Pre-arranging your funeral allows you to put your plans in writing, so there will be no doubt about your wishes. Family and friends will never have to wonder if they have done the right thing, if they might have forgotten anything, or if what they selected is what you truly would have wanted.
If left until the time of death, it places unexpected burden on those you care about most.
-may put survivors in an uncomfortable and embarrassing situation.
-can cause friction between loved ones.
-borrowed money must be repaid.
Choosing The Payment Method For You
There are a variety of ways that you can pay for your funeral. There are many insurance plans available with flexibility, allowing you to pay all at once in a single premium, or you can pay over three, five or even ten years. Complete details of these plans are available from Moase Funeral Home.
A common option for funding a pre-arranged funeral is to have the funeral home deposit the funds into a trust account. The funds are locked into a trust account where they will remain until the time of death. The funeral home then receives the proceeds to pay for the funeral. The money is protected under the Pre-arranged Funeral Services Act of Prince Edward Island.
By fully pre-paying the funeral expenses, today's price is all you have to pay for the services, even if it is not used for many years. Fully pre-paying a funeral allows a person to purchase the funeral without having to worry about inflation.
Another option for funding a funeral is to open a trust account through the funeral home and place funds with the funeral home as they become available. This method is appealing to some as it allows them to place as much in the account as they are comfortable with until the funeral is paid for.
Areas of Special Concern
No matter what funeral plans you make, it is important to keep good records and to be sure that loved ones know where records are kept.
Drawing Up A Will Is Important
Every adult should have a will, regardless of age or financial situation. A will is a legal document that can prevent many serious problems for those you leave behind.
If you do not already have a will you should have one drawn up as soon as possible. It is in your own and your family's best interests.
Keeping Accurate Records
For your family's sake, write down everything you think the executor of your estate will need to know to carry out your wishes.
Be sure to list all biographical and financial information, including:
Prearranged funerals can be paid in full at today's prices, freezing inflation, as well as alleviating any future financial burden. The prepaid funds are deposited with a trust company and are untouched until the time of need. There is no money held back by Moase Funeral Home. Money paid on a prearrangement is protected by the "Pre-Arranged Funeral Services Act" (P.E.I. 1984). This act gives families comfort in knowing that their prepaid funds are held in trust and at anytime the purchaser may cancel and obtain a full refund plus all the earned interest or the purchaser may transfer funeral services to another funeral home with no penalty. At Moase Funeral Home affordable monthly payments may be arranged .
Wishes can be recorded and left on file with the funeral director making no prepayment. In this case, the cost will be the rate charged at the time of need.
If you would like further information, please feel free to contact us at (902) 436-2301.
