Pre-Planning, Pre-Arrangements, Advanced Planning are all terms that describe the same thing: when funeral or memorial services are planned for a living person. At Steuerle, we have a variety of options available for people who wish to pre-plan arrangements for themselves or a loved one.
Often, someone simply wants to keep their wishes on file with us to ease the burden of decision-making from their loved ones. Sometimes, a person wants to meet with us just so they have a fuller understanding of the options available. And there are occasions in which it makes financial sense to fund future services.
In the pre-funding plan, an independent, separately held, transferable annuity is created in the individual’s name to account for the cost of funeral arrangements. Interest accrues as a hedge toward inflationary costs. At Steuerle, a Pre-Arrangement plan that we assist with comes with an in-house guarantee that all funeral home services and exact or comparable merchandise (caskets, vaults, urns, etc.) will be performed within the independent annuity plan. Cemetery fees cannot be guaranteed as that service is a separate entity.
People choose to Pre-plan for a variety of reasons: to ease the burden on loved ones left behind, to ensure their wishes are fully known and carried out, as part of a full financial planning strategy many financial professionals are recommending, and most importantly, to have peace of mind for themselves.
We have created a very helpful Planning form below for review. The form can also be submitted to us for review by a professional funeral director to offer more guidance.
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