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pre pay funeral expenses

Pre pay funeral expenses

When you pre pay funeral expenses, you lock in services and merchandise at today’s prices, avoiding  rising inflation costs.

When you pre pay funeral expenses, your cost is protected

Once your funeral or cremation arrangements are made and paid for, they cannot change after you pass. (You can always update your wishes and arrangements while you are alive.) Your family cannot alter your plan after you die unless it is stipulated in your arrangements.

Inflation of funeral costs

By prepaying for your funeral arrangements, you can lock in your service at today’s lower price. Once your funeral is paid for, we guarantee in writing that the total price of the services and merchandise will never increase. This makes pre-paid funeral arrangements a financially wise decision. You should be aware that not all funeral homes offer a lock-in-price guarantee.

Security of pre pay funeral expenses

Any funds Phaneuf Funeral Homes and Crematorium receives towards a pre-paid funeral are placed into an Irrevocable Mortuary Trust account, in accordance with state law. This trust is insured and the funds gain interest, which we maintain in the account to offset future price increases. We pay all taxes and administrative fees for you. 

No one can access these funds or cancel the trust. By federal and state law, the funds can only be used to perform the service you selected, and withdrawn only at the time of your death.

In New Hampshire,  funds paid for funeral services are not assets of a funeral home. The funds can only be withdrawn from the aforementioned trust at the time of death and upon submission of a death certificate and letter from the funeral home stating they rendered the service. If a funeral home closes for whatever reason, they generally contract with another funeral home in the vicinity to take over the prepaid accounts. 

The family will be notified if another funeral home takes over the account, and the family can choose to stay with the new funeral home or transfer their prepaid arrangements to another funeral home of their choosing.

Benefits for planning a funeral

Planning a funeral before the need arises is not a new concept, as many people have prepared wills, purchased life insurance and some have even selected burial plots. Funeral pre-planning takes it a step further.

There are advantages to pre-planning your arrangements. Pre-planning ensures that your final wishes will be fulfilled. Death is a difficult subject to discuss, and therefore, oftentimes your family may not be aware of your true wishes. By meeting with a funeral director to pre-plan, your final wishes can be executed and fulfilled.

Another advantage is the financial-benefit. Pre-planning can eliminate the burden that funeral costs might pose on your family. Not to mention that your funeral will cost less now than it would in the future.

Pre planning provides peace-of-mind for you and your family. Much can be said for knowing that everything has been “taken care of.” It is the best gift you can leave your loved ones.

Preplanning your final arrangements ensures that your family understands your final wishes and alleviates a great deal of stress.

Pre pay funeral expenses - Phaneuf

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