By: Karen Nelson

In the midst of December, we can have euphoria and exhaustion, but it is just a prelude for that fateful day, New Year’s Day. In January we self- evaluate, then we usually write our resolutions. We decide again to lose weight, to be more organized, to take care of our finances and to pre-plan our final service. 

Pre- plan?  Well, it may not be the first item on a resolution list but according to a recent survey commissioned by Forethought Financial Services, 80 percent of people over 30 think pre-planning their final arrangements is a good idea.

Still like losing weight or becoming more organized we tend to procrastinate. We do not want to think about such things. But pre-planning can ease the emotional and financial burdens on family and friends during a stress-filled time while providing comfort that final wishes are honored. Advanced planning for life's most difficult cycle is a sincere act of love.

The National Funeral Directors Association recommends pre-arranging for everyone, but there are guidelines and like every financial decision you should do a little homework.  

While considering pre-planning ensure the following are stated in the policy:

 

  • Provides to you, at the conclusion of the conference, a written statement listing all the goods and services you have purchased and the price.
  • Gives you a written pre-need funeral contract explaining, in plain language, your rights and obligations.
  • Guarantees in the contract that if any of the goods or services you have selected are not available at the time of need, goods and services of equal or greater value will be substituted at no extra cost.
  • Explains in the contract the geographical boundaries of the funeral home’s service area and under what circumstances you can transfer the pre-need contract to another funeral home if you were to relocate, or if the death were to occur outside of the service area.
  • States in the contract where and how much of the funds you pay will be deposited until the funeral is provided.
  • Explains in the contract who will be responsible for paying taxes on any income or interest generated by the pre-need funds that are invested.
  • Informs you in the contract whether, and to what extent, the funeral home will guarantee the price of goods and services you are purchasing. If the prices are not guaranteed, the contract will explain who is responsible for any additional amounts that may be due at the time of the funeral.
  • Explains in the contract whether and under what circumstances you may cancel your pre-need contract and how much you will be refunded.

Reprinted by permission www.nfda.org.


Now ring in a new year with the peace of mind you have relieved your loved ones of a financial and emotional burden. For over 50 years Myers Mortuary has assisted Northern Utah families in making advance need funeral arrangements. Whether it is acquiring a new policy, transferring a policy from another location, updating a policy or evaluating an existing one, this new year’s resolution could be one of your best.

Sources:

http://www.nfda.org/consumer-resources/preplanning-a-funeral/bill-of-rights-for-funeral-preplanning