Know Your Rights before Opting for a Pre-Paid Funeral

Prepaying for your funeral is a great option. You will have control over your legacy, as your final wishes are faithfully carried out.This can help relieve the strain on your family when you pass away, saving them the stress of having to organize a funeral. Before you agree to a pre-paid funeral, here are some of the things you should know.

There are Multiple Ways to Pay
Funerals can be expensive. This is why many people turn to pre-paid funerals. It will allow them to lock in today’s prices, protecting them from potential price hikes. Plus, you’ll be able to spare your family from the financial burden of having to pay for your funeral.

The good news is that there are multiple ways to pay for pre-paid funerals. If you have the funds, you can pay for everything upfront. If not, you will be able to use a payment plan, which lets you spread the costs out over several months.

Sometimes, you will pass away before the payment plan is completed. In this case, your family will be required to pay the balance. The good news is that this will be substantially less than it would have cost to organize and plan the funeral from scratch. 


Cooling Off Period
You shouldn’t feel pressured to have a prepaid funeral. Because of this, there will be a cooling-off period. This will often last for 30 days. This is a chance to reflect on the arrangements you made. If you decide that you aren’t happy, you’ll be able to request your money back.  

It Won’t Affect Your Pension
Many people are understandably concerned that using a pre paid funeral will have on their pension. The government will determine your pension amount through an asset test. However, pre-paid funerals will be exempt from this test, so it won’t have any bearing on your pension.


Your Money is Secure
When you opt to pre-pay for a funeral your money will be kept safe. The funeral directors Adelaide will create a funeral bond with an independent third party. That money will be stored in your name and invested. When the time comes, the bond will be accessed and the funds used to pay for the funeral service.

In the unlikely event that the funeral home goes out of business, the funds can be transferred to another funeral provider. This ensures that you’ll still be able to get the funeral service you desired.
 
Government Protections
Professional funeral services are highly regulated to make sure that consumers are protected. In addition to industry standards, you will have protections at the state level. Funeral directors Adelaide will have to abide by the rules set by the Department of Consumer and Business Services. This site has more details about your rights when you are making funeral arrangements.

Read the Contract
Before you agree to the funeral arrangements, read through the contract. It will contain the terms of the agreement and outline what type of funeral service you will be entitled to. If you opt to use a prepaid funeral, it’s recommended that you keep a signed copy of the document close to your will, so it will be easily accessible for your loved ones when you pass away.
 
Conclusion
Though making funeral arrangements can be a little daunting, there are plenty of legal protections in place. This ensures that you can rest easy after creating a prepaid funeral plan, knowing that when the time comes your final wishes will be carried out.

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