5 Myths About Pre-planning Busted

5 Myths About Pre planning BustedWhen it comes to preplanning a funeral, there are a lot of emotions and false theories about what could happen. It’s important to know that you have correct information when you are making a decision. To help you with that process, here are 5 pre-planning myths that have been busted.

Myth #1: Talking about death is too hard

While we honestly can’t say that talking about death easy, the emotional benefits of preplanning your funeral outweigh the discomfort you may experience. Ignoring the inevitable may seem like a good idea but once you have your funeral pre-planned, you will have the peace of mind to know that your family will not be burdened by the planning decisions while they are grieving. You can rest knowing that your funeral will be held in a way that suits your personality and your wishes. That nagging voice in the back of your head telling you to take care of this business will be gone! You will have peace knowing that your funeral is taken care of and it won’t be a burden to you or your family in the future.

Myth #2: I could lose the money I invest towards my funeral costs

Funeral homes have the option of adding a guarantee to the trust. Not all funeral homes guarantee trusts. An NON guaranteed trust means that at the time of death you have the principal and interest of the trust to apply toward the cost of that funeral at the time of need. It may or may not be sufficient to cover the cost and if it isn’t, the additional cost must be covered by the estate of the family. A guaranteed trust means that the entire statement of goods and services will be provided at the time of death even if the trust has underperformed inflation.  So if the trust is not sufficient to cover the cost at the time of need, the funeral home covers the additional cost instead of the estate or the family. In both the guaranteed and NON guaranteed trusts, any unused or excess funds in the trust belong to the estate of the individual. This means you will not waste money if you choose to prepay for your funeral via a trust.

Myth #3: I don’t have the time

This is an easy lie we say to ourselves about a lot of things. There never seems to be enough time in the day for all the things we need to get done but starting the pre-planning process is easy and simple. Start here: http://www.willwerscheid.com/preplanning and fill out the short form to begin. Every situation is different so some pre-planning may take more time than others but the benefits for more complicated situations can be even more compelling. Make sure to check out our article on the Reasons Why Planning Your Own Funeral Will Put Your Mind At Ease.

Myth #4: I don’t need to pre-plan my funeral because I am financially secure

It is a great thing to be confident about our financial security but there are still advantages to preplanning your funeral. You are able to make your wishes known so that others don’t have to play a guessing game. You can give your loved ones the peace of mind that your funeral preparations are taken care of if unforeseen circumstances changed your financial security. There also may be tax benefits to using an irrevocable trust to prepay for your funeral. To learn more, contact our experienced staff at 651-228-1006 to answer your specific questions.

Myth #5: I may move to a new city or state and I don’t want to lose my investment

The states of Minnesota and Wisconsin have very specific rules that must be followed when it comes to pre-funding funerals. All monies prepaid for funeral/cremation services must be held in trust until services are performed. That trust must be owned by the individual and the beneficiary of the trust must read “Any funeral home as their interest may appear” this is because WI and MN are 100% transfer states, so the individual can change their choice of the funeral home at any time. This gives you and your family the protection and flexibility that you need.

We would love to hear from you, even if you’re just exploring preplanning yours or a loved one’s funeral. Fill out our simple pre-planning form to start the conversation or give us a call at 651-228-1006. We can’t wait to hear from you!