Brummitt McKenzie Funeral Home

Preplanning

No one likes to think about death, let alone plan for it. By pre-planning your funeral, you relieve your family of having to make important financial decisions during a period of great stress and grief-a time when people aren't thinking very clearly and may not know what to do because you never made your wishes known.

Pre-planning your funeral can be very informal, and as simple as jotting down your preferences and sharing your wishes with a family member. More formal arrangements in the form of a preneed contract can be set up with us and can be pre-funded through life insurance, bank trust agreement, or another method.

Why Pre-plan Funeral Services?

In many families, discussing one's mortality is an extremely uncomfortable topic. But it is a topic that should be discussed and planned for well in advance of your death.

By pre-planning your funeral, you relieve your family of having to make important financial decisions during a period of great stress and grief a time when people aren't thinking very clearly and may not know what to do because you never made your wishes known.

It's easy to say, "Don't make a fuss. I don't want a ceremony. Just bury me and be done with it." But it is important to realize that the ritual of a funeral and/or memorial service isn't for the deceased but for the living. It is a time when friends and family can gather together to grieve openly and to provide support for one another.

Pre-planning your funeral can be very informal, and as simple as jotting down your preferences and sharing your wishes with a family member. More formal arrangements in the form of a preneed contract can be set up with us and can be pre-funded through life insurance, bank trust agreement, or another method.

Pre-planning, when done properly, can give you peace of mind becaused you know that your arrangements are ready and pre-funded.

By Preplanning your funeral you can:

  • make all the arrangements during a time of peace and not leave them to your family during their time of grief;
  • make your wishes known;
  • control the cost of your funeral and protect from inflation;
  • ensure that personal records are organized and easy for your survivors to locate;
  • protect your insurance so that it provides for your survivors and not for funeral expenses; and
  • provide protection in case the need arises before it is expected;

Options for Financing Funerals

A funeral is an essential expenditure, and a little planning will eliminate the uncertainty of costs and payment. If you don't plan for funeral expenses, you run the risk of your family having to ask friends and relatives to share an unexpected financial burden, which can put everyone in an embarrassing and uncomfortable position. And if you borrow money, it has to be repaid.

Here are some options for financing funerals.

Pre-Need Insurance
Preneed plans are designed to cover the expenses associated with your death and funeral. Preneed insurance companies such as Forethought Life Insurance Company, offer several payment options to give you flexibility.

Annuities
Generally, annuities allow for the money you pay to be invested. Interest is earned which will, over time, increase the amount of money available to pay for your funeral.

Life Insurance
A traditional life insurance policy can meet several needs--pay off loans, fund education costs, and provide for living expenses, as well as funeral expenses.

Bank or Funeral Trust
A funeral trust is similar to a savings plan. The earnings on funeral bank trust funds are taxed every year, and paid either by the family or by the trust itself.

Saving Account
Beware with this strategy. A long illness can easily deplete short-term savings, while taxes and early withdrawal penalties can reduce long-term savings.

Click here to link to our Forethought pre-planning insurance

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