ARTICLE: Benefits of Prepaid Funeral Plans

Benefits of Prepaid Funeral Plans

Many seniors are worried about leaving a financial burden on their children when they pass away.  Prepaid funeral plans are often an excellent way to protect children from having to spend out of their own pocket or advance funds in order to provide for a funeral (which can be very expensive). These plans allow people to pay for their funerals in advance, while also saving money compared to future costs.

Parents purchasing prepaid funeral plans can protect their children and reduce stress after their passing to ensure that family members aren’t left with the burden of paying for a large expense immediately after their death. Some people may even purchase these plans without any particular reason, simply because it allows them financial peace of mind when someone they care about dies unexpectedly.

As prepaid funeral plans can provide financial security and improve peace of mind, they should be carefully evaluated to make sure there are no unexpected fees and that they offer adequate coverage. Financial experts advise that people weigh the pros and cons before purchasing these plans to ensure they’re right for their particular situation. 

Benefits of prepaid funeral plan include: 

1) Peace of Mind – You will never have to worry about the cost of your final arrangements again. If something happens unexpectedly you don’t have to worry about how your loved ones will provide for the funeral because the costs will be taken care of.

2) Convenient – Planning for the funeral expenses while you are alive and well is much more convenient than thinking through your final arrangements during a period of disability or leaving the decisions to your children after your passing. 

3) Lower Cost – Pre-paying allows people to budget for their final arrangements before they die and sometimes this means lower overall costs of service than if they paid at time of death. Funeral homes often offer a discount, or allow you to lock in existing pricing.

If you have questions about your estate planning, including planning for your final arrangements, we are here to help. Contact Roth Elder Law, PLLC today at (607) 962-6162 for a consultation.

Contact Us Today

We at Roth Elder Law, PLLC, believe in providing services in a way that clients can easily understand and meaningfully participate in designing and maintaining their estate plan for their loved ones, as well as be assured that their plan will be administered according to their wishes.