The Importance of Pre-Planning
Pre-Planning acts as a guide for your family so they don't have to worry if the decisions they make are good enough. Having someone guide us in answering the 40-100 questions that will need to be answered, making the dozens of decisions that will need to be addressed, will largely remove the anxiety we might experience if we do not.
If done properly, pre-planning is straight-forward and simple. It does not have to rift with emotional decision making. If left undone, it could potentially turn into a family argument that may drive families apart.
Pre-planning allows you to get YOUR wishes recorded and written down so your family knows exactly what you want. We can keep it safe until the time of need. It also allows your family to know where to find all the important documents and information they may need.
Even if you don't need it for a while, what better time to start planning than when there is no urgency.
What Grief Looks Like
Why Pre-Planning is Beneficial
► Emotionally – the goal is to keep us from expending our precious energy trying to put a complete funeral plan together in 2 or 3 hours, when honestly, doing so is the very last thing we want.
► Taking Charge/Feeling of Control- Be in charge of your own decision-making without burdening your family and friends at the time of your passing.
► Financially- Many have life insurance purchased years ago with the goal of having the proceeds pay for one’s funeral. Unfortunately, all too often, the life insurance policies we purchased when we were 25-30 years old, expire after we reach a certain age. Worse, the premiums increase to a level which we can no longer maintain, or the death benefit gradually reduces in value as we age, leaving only a fraction of its original value when we die. It is important to know the current status of your life insurance(s) before a crisis occurs.
► Designating A Representative- Your funeral representative has the right and the power to make decisions about funeral arrangements.
► Off-load assets- If you pre-pay for your funeral, it does not count as an asset making it easier to qualify for Medicare.
Designating A Personal Funeral Representative
Your funeral representative has the "right at the power to make decisions about funeral arrangements and the handling, disposition or disinterment of a decedent's including but not limited to: decisions about cremation, and the right to possess cremated remains of the decedent."
Duties Of The Personal Funeral Representative
► Before being allowed to act, your funeral representative must sign an acknowledgment of their duties.
► The power to act is only effective after your death, and the power to act cannot be assigned to someone else by your funeral representative.
► Your funeral representative is specifically responsible for ensuring payment of the costs related to the disposition of your body, whether through insurance, another person, your estate or sometimes, the funeral representative themselves.
► In matters where no funds have been set aside for the funeral, it is important that the funeral representative knows where the funds will come from.
Pre-paying for one's funeral is not required. If one decides to prepay for their funeral in advance, it is very crucial to know that the State of Michigan is one of the most regulated states in the United States as it pertains to prepaid funeral contracts.
When prepaying for one's funeral there are several options:
► Pay for the entire funeral via a single payment- this is the most beneficial way for the consumer to pay for their funeral.
► By doing this, whatever the cost of the funeral is today, will be guaranteed by Joldersma & Klein in the future.
Paying for one's funeral over time: There are several types of accounts in which we may place your funds. Those include the following:
► Interest bearing Annuity- this is purchased through the funeral home.
► Interest Bearing Life Insurance Funded Funeral Account- which may only be purchased through State Licensed Funeral Home that is registered with the State that offers prepaid funeral contracts.
► Interest Bearing Escrowed Bank Trust- purchased through the funeral home.
For additional information or to set up an appointment please reach out to us at 269-343-2628.