Funeral Plans:
The Basics
We thought we would go back to the basics and answer some of the questions we get asked:
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What is a Funeral Plan?
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Why do I need a Funeral Plan?
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Can’t the money that I leave be used to pay for my funeral?
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Why is a Funeral Plan important?
So, let’s get going…
What is a Funeral Plan?
At the risk of sounding patronising, a Funeral Plan is exactly that…a prepaid plan for your own Funeral.
This means that you can pay for your Funeral now (at today’s prices, rather than the cost of a Funeral when the time comes!) and be safe in the knowledge that your loved ones haven’t got to find the money to pay for it whilst waiting for your Estate to be administered or for your money to be released.
A Funeral Plan can be as basic or as detailed as you like and can consider anything from the location, burial/cremation, cars, funeral directors, flowers and even music.
Why do I need a Funeral Plan?
If one thing is guaranteed, it is that all of us are going to pass at some time (we just don’t know when!) and so having a Funeral Plan is something that all of us could benefit from.
When you pass, your family or loved ones may have to find the money to pay for your funeral before your own funds can be released from your Estate. A Funeral Plan can save your family the worry and expense of arranging a funeral, and help make things easier at what is already a very difficult time.
When the time comes, one phone call to the funeral director that you have already chosen, is all that is needed to activate the plan.
Can’t the money that I leave be used to pay for my funeral?
As we have said above, it is not always that straight forward.
When you pass, your bank accounts, pensions, and assets are frozen and in most cases will only be released upon receipt, by the bank or institution, of a Grant of Probate (or Letter of Administration if you die without a Will). This could mean that those arranging your Funeral are left having to foot the bill until they can be reimbursed by your Estate. With the average cost of funerals steadily rising year on year, this is an additional burden that your loved ones could really do without.
Why is a Funeral Plan important?
Well, I think we have covered this above but if you are still wondering whether a Funeral Plan is right for you, why not contact us for a free chat – absolutely no obligation and if you don’t want us to follow you up that is absolutely fine, it is all in your control.
Setting up a Funeral Plan is straightforward, there are different payment options; you can pay all of it upfront, over one-year with 0% interest, or over a number of years.
Having a Funeral Plan in places gives you peace of mind knowing that your loved ones haven’t got the burden of arranging or paying for your funeral and that all of your wishes are catered for.
If you would like to have a free chat about putting a Funeral Plan in place, or have any questions, please contact us on info@TotalLegacyCare.co.uk or 01727 865 121
Leah Waller
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