Planning Ahead:
Pre-arranged & Pre-paid Funeral Services

Recently pre-arrangements and pre-payments for funeral services prior to one's death are becoming more acceptable. This could possibly be due to the increased public education and attention on planning ahead for the future, planning financially and personally for your retirement and beyond.

There are many benefits to planning for the inevitable, both personally and financially. Personally one can express their wishes for the type of funeral services and tailor them to their individual needs. In planning now the financial obligation for your funeral will not be a burden to the remaining family members both young and old. Planning ahead will be a positive investment for your family, when they are facing a difficult and stressful time in the future. Some commonly asked questions to help make informed choices:

Why should I pre-arrange my funeral? Pre-arranging your funeral allows you the opportunity to make an informed decision. Making an emotionally sound decision today will remove the burden from your family later. When pre-arranging for yourself this often creates an opportunity for discussion with family members.

What is a pre-arrangement?

A pre-arrangement is your personal wishes and wants for the funeral service, this includes the type of services e.g. visitations/services/burial/cremation as well as merchandise selection e.g. casket/urn. These items determine the costs according to current prices. The funeral home also safely keeps on file a record of vital statistic information that is required when a death is registered.

Do I have to pre-pay my funeral?

No, pre-paying your funeral is always an option never an obligation. Your wishes are held on file at the funeral home to assist when the need arises. If you do pre-pay you can designate where the funds come from.

Why should I pre-pay my funeral?

Pre-paying for your funeral will relieve this financial stress from your family, most individuals may not have the ability to handle this unplanned expense. Your pre-paid funeral can be guaranteed at today's prices to provide protection from inflation. There are also different ways that you are to pre-pay for your funeral.

Should I wait until I am older and retired to pre-arrange my funeral?

Quite often individuals do not think about their own funeral until after they retire. However it is financially easier while you are working. Your income decreases by approximately 40% at retirement.

Is my money 100% secure?

Yes, Principle and interest are protected by bank deposit insurance as well as the Ontario Board of Funeral Services compensation fund. Your money is not a funeral home asset.

What happens to the interest paid on my pre-arrangement?

The guaranteed pre-arrangement when paid in full is protected. The interest earned on this pre-arrangement is used to offset inflation. Any financial loss on the arrangements made is absorbed by the funeral home. Any funds remaining will be returned to the estate of the deceased.

What if I change my mind?

Your arrangements can be changed or cancelled at any time and your these arrangements may be transferred to another funeral home at anytime.

Funeral Directors are knowledgeable professionals who provide families they serve with personal and financial options for both atneed and pre-need care.

Mary-Ellen Patrick Licensed Funeral Director