Posts Tagged ‘pre-planning’

One of the biggest steps you’ll take during the process of estate and funeral planning is to create a will. This legally-binding document contains directives how to disburse your estate after you are gone, including how and where your property and assets are divided (as well as the care of any dependents you leave behind). Although the traditional method has always been to draft a will under the direction and guidance of a lawyer, the ease of online transactions has made online wills more popular than ever before.

And while there are benefits to drafting an online will, it’s not the right solution for everyone. If you’re in the funeral planning stages and are considering looking to the Internet for your will and estate needs, here are a few considerations to keep in mind.

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There are many different ways to pre-plan a funeral, ranging from funeral insurance policies and fully arranging all the details to pre-paid packages that cover your entire funeral costs. All of these options come with their own pros and cons, and choosing which one is right for you can take a little bit of advance research.

One of the less common options is to have a POD account (Payable on Death) set up for the beneficiary of your choosing.

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Although funeral plans and healthcare directives don’t always overlap, they cover issues that many people address at the same time. While funeral plans provide financial support and instructions for after death occurs, healthcare directives address these issues while you’re still alive…and too ill to make the decisions on your own.

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You’re a planner. You’ve made all the arrangements for your funeral long before it’s necessary, selecting the right package and payment plan and getting your affairs in order with plenty of time to spare. According to all the rulebooks, you’ve done things right and can rest comfortably knowing that your family won’t have to deal with the financial and emotional stresses of planning a funeral.

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Although rates of advance funeral planning are on the rise, the majority of people aren’t financially prepared to pay for a funeral. With a price tag of anywhere from a few thousand to up to $10,000, it’s not easy to come up with the money necessary to make the final arrangements—especially if you’re forced to wait weeks or even months for a life insurance policy to pay out.

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One of the most important decisions you’ll make while funeral planning is which cemetery plot to choose. Although it is possible to move buried or cremated remains after they have been interred, it is a very expensive and lengthy process. The final resting place you select should reflect the ideal location for this and future generations.

That’s why it’s important to take some time to explore your options and make the right choice for your family. And here are a few things to consider throughout the process.

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