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Pre-PlanningWhy Pre-Plan Funeral Services
| The Grieving Process
| Decisions You'll Make in Pre-Need Planning
| Make a Resolution to Complete Estate and Funeral Planning
| Planning Form
| What to Do When Someone Dies
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No one likes to think about death let alone plan for it. For many families, discussing one's mortality is an extremely uncomfortable topic. It is one that can be discussed and planned for well in advance of your death as there are many details and decisions associated with planning a funeral.
By pre-planning your funeral, you can help to lighten the burden of difficult decisions and relieve your family of having to make important financial decisions during a period of time when people are least able to manage the great stress and grief. It becomes a time when people aren't thinking very clearly and may not know what to do. It is important to realize that the ritual or ceremony surrounding a death is not for the deceased but for the living. It is a time when family and friends can gather together to grieve openly and to provide support for one another.
Pre-arranging your own funeral is becoming a common practice. At West Funeral Home, we offer a variety of pre-planning selections that can be shaped to your specific needs. Arrangements may be made in the comfort of your home or in the privacy of our facilites. One may wish to record vital information, plan services and/or fund services in advance.
Allow us to help you make your preplanning arrangements.
PRE-FUNDING -Many people who pre-arrange a funeral also pre-fund it. This can insure that services are paid for whether death occurs next week or years from now. The interest that accumulates on the account generally keeps up with any inflationary increases in the funeral cost. There are many ways you can pre-fund a funeral. These may include: Insurance Policy, Annuity Contract, Certificate of Deposit and Savings Accounts, or Trust Account.
A. INSURANCE POLICY - We work with American Memorial Life Insurance Company. They have a program specifically written for funeral home use in funding pre-arranged funerals which is called Purple Cross. The money is pre-paid into a life insurance policy that is designated to pay for funeral expenses. Some of the highlights are below.
- Bonus Plan.
- Lump Sum or Multiple Payment Options.
- Usually Tax Free Interest (No 1099).
- Health Requirements.
- Maybe asset exempt when applying for assistance.
If your health status changes, this policy can never be cancelled, nor can the rates be increased. For more information about the Purple Cross Insurance Pre-Need Program, you may contact us or visit their website at PURPLE CROSS.
B. ANNUITY CONTRACT - This option is also through Purple Cross. The money is pre-paid into an annuity contract that is designated to pay for funeral expenses. Highlights include:
- Lump Sum or Multiple Payments.
- Usually Tax Free Interest (No 1099).
- Competitive Interest Rate.
- No Health Requirements.
- Maybe asset exempt when applying for assistance.
For more information about the Purple Cross Insurance Pre-Need Program, you may contact us or the Purple Cross website at PURPLE CROSS.
C. CERTIFICATES OF DEPOSIT & SAVINGS ACCOUNTS - Certificates of deposit and savings accounts would be opened at a financial institution or bank. They would be designated for funeral services with a "Payable on Death" clause. Highlights include:
- Competitive Interest Rate.
- Interest is taxed (1099 issued annually).
D. OTHERS - The other options may include: trust accounts, designation of investments or insurance policies.
ASSISTANCE PLANNING -This maybe useful when one relies on social services or related organization to pay for living expenses. The rules for the various organizations and states vary. The best way to prepare for this is to plan well in advance. By planning months in advance, you will be able to expand the options and flexibility for setting money aside. If you wait until one needs to go on assistance, you are very limited and basically have no options. We have the information and will make ourselves available to assist you in planning for these situations.
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If you would like more information on pre-planning, recording vital information, or a personal inventory workbook, please call us at 701-282-6699 or 701-347-4422 or contact us via email. You can click on "Interested in Preplanning?" at the bottom of the screen to email us.
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