As we get older, and perhaps having to plan a funeral for a loved one ourselves, many people are thinking far ahead and planning and pre-paying for their own funerals. If you have had to go through the process of planning a funeral for a loved one that has passed, you know how difficult it can be when it comes to choices and price points. Everyone wants to give their loved ones the send-off they deserve for a life well-lived. This is why pre-paying for funerals has become a big decision for many people in the estate planning process. At the time of your passing, all your loved ones need to do is make one call- and with that, they are done and can focus on their grieving process.
Along with thinking of others, pre-paying for your funeral is a way to spend down money to qualify for Medicaid, as well. While it is a worthwhile idea, it needs to be approached with caution. People have lost money when funeral homes sometimes close with little recourse of recovering it. So what are the five key points to remember when shopping around for a pre-paid funeral plan?
Five Points to Keep in Mind When Shopping for a Pre-Paid Funeral Plan