Pre-Planning
Funeral pre-planning is the advance planning of funeral or memorial service details in anticipation of need and is an essential component of comprehensive estate planning. Advance funeral planning allows you to make wise decisions at a time when you are emotionally better prepared to do so and provides peace of mind for everyone involved. The more details you pre-plan for this inevitable need, the greater the sense of peace that you and your family will experience. Planning your funeral in advance not only gives you control of how you're remembered, it also allows you to discuss your plans with your loved ones and to consider the feelings and expectations of your family.
What benefits does a pre-planned funeral offer?
- The choice to decide exactly how you want your wishes carried out based on a detailed discussion of many different options available for a funeral or memorial service.
- Unhurried access to select the funeral or memorial service accessories you desire from among the wide variety available to you at Borland-Ensminger Funeral Home, Inc.
- Peace of mind in knowing that your loved ones will be spared making difficult decisions at a time of deep personal loss.
- The reassurance of knowing that a permanent record of your wishes and biographical information has been accurately recorded.
What additional benefits does a pre-funded funeral offer?
- Allows you to pay for funeral services at current prices thereby protecting you and your family from the negative effects of inflation.
- Reduces emotional stress and eliminates the financial burden that a funeral might place on your surviving family members at your time of death.
- Provides the means to protect your assets from government intervention should you ever need to apply for SSI or Medicaid if nursing home care is needed.
- Gives you and your family peace of mind in knowing that you have received the best value, protected your investment against inflation and assured that your invested funds are secure.
- Provides transferability to another funeral home if you relocate.
Why plan ahead?
Planning a funeral service or memorial within hours of the loss of a loved one can be an extremely difficult experience. There are many details to attend to and critical decisions must be made at a time when your family may be unprepared to make them. Advance planning a funeral or memorial service relieves much of that burden.
Planning a funeral or memorial service in advance provides you with a unique opportunity to involve other family members in the planning process. It also allows you and your family the time to arrange for special personalized and distinctive ways to acknowledge your life, or the life of another family member. Once the plans are made, this information can be put on permanent file at Borland-Ensminger Funeral Home, Inc., where it will remain secure until it is needed. Additionally, should circumstances change; you may alter or update your personal wishes to reflect current situations.
What is involved in pre-planning my funeral?
We will meet with you to accurately record certain vital information, explain options and guide you through the process. We will discuss your personal funeral or memorial preferences, determine specific details you may wish to include and permanently record your expressed wishes for future reference.
What does a funeral cost?
Cost is a matter of choice. All funeral homes are required to provide you with itemized costs in the form of a printed general price list that you may review and take with you
How is pre-funding done? Explain the benefits.
There are several options available to pre-fund your funeral plans at today's prices. A variety of investment products are available to accomplish this objective.
Life Insurance Policy - A Life Insurance Policy created specifically to pre-fund one's funeral can be purchased through the funeral home.
A Trust - The funeral home invests your pre-funded funeral assets with a bank acting as trustee on your behalf.
Assignment of an Insurance Policy - You may assign the proceeds of an existing insurance policy to finance your funeral expenses.
When you choose to pre-fund funeral expenses through a life insurance policy, the increase of the insurance policy's death benefit may protect against the impact of inflation. Growth on the face amount of the insurance policy may also be exempt from federal income tax and could minimize tax liability for the individual doing the pre-funding. Additionally, pre-funded insurance offers the means to protect your assets should your personal funds be depleted due to Medicaid regulations that establish stringent income and asset limitations for eligibility.
Who qualifies?
Individuals between the ages of 0 and 99 may apply. There are no age or health restrictions for individuals whose funds are invested in a trust or who assign the proceeds of an existing insurance policy. No medical examination is required for life insurance purchased from the Borland-Ensminger Funeral Home, Inc. for pre-funded funeral services.
Can I pre-plan without pre-funding?
Pre-funding is a choice most people make to spare their family any financial pressures and to avoid the rising costs of funerals. However, if pre-funding is not chosen, a record of your vital information and the itemization of your personal instructions and preferences will remain on file at the funeral home to act as a helpful guideline for your family while allowing the cost to be paid at the time of need.
If you have any questions, would like more information or would like to make an appointment to discuss advance planning of your funeral, please contact the Borland-Ensminger Funeral Home, Inc. at 814-744-8533.
