Funeral Planning - Why It Is Important

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Funeral Planning
Why It Is Important
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Planning a Funeral
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Just a few of the decisions that must be made
when planning a funeral include
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Honoring Your Wishes
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Discussing Your Wishes with Loved Ones most
people, at some point in time, express their
basic preferences to a spouse, parent, or child
however, this is often insufficient to ensure
they are carried out
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You may lack detail, the person may not survive
you, or the person may forget in the midst of his
or her grief
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Letter of Instruction a letter of instruction
is an informal document that you typically
include with your Last Will and Testament
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Although it has no legal merit, meaning it does
not have to be followed, it allows you to put in
writing anything important that might pertain to
your death, such as your wishes for your funeral
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Pre-planning many funeral companies allow you
to pre-plan, and pre-pay, for your funeral
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The drawback to this option is that there is no
guarantee the funeral home you select will still
be in business when you die
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Funeral Trust the last, and most formal, option
is the creation of a funeral trust
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Using your ability to create your own terms you
can dictate, with great detail if you choose,
exactly how you wish your funeral and burial to
be handled
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Funding Your Funeral
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Estimates vary however, the average funeral and
burial likely costs somewhere between 6,000 and
10,000
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If the majority of your assets are tied up in
probate, how will your family pay for your
funeral and burial?
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Pre-payment to Funeral Home many funeral homes
offer pre-planning and pre-payment however, if
you choose to pre-pay through a specific funeral
home, what happens to your money of the company
goes bankruptcy or goes out of business?
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Even if it remains operational, does your money
earn interest over the years?
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Life Insurance Proceeds life insurance
proceeds are not included in the probate of your
estate, meaning they will be available to fund
your funeral however, the beneficiary of the
policy has complete control over the funds
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Funeral Trust a funeral trust allows you to
create terms that must legally be followed and
provide for payment of your own funeral again
on your terms
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You may even choose to combine life insurance
proceeds and a trust by creating the trust and
then making the trust the beneficiary of a life
insurance policy
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LEARN MORE ABOUT FUNERAL PLANNING IN ILLINOIS
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Click to visit www.NashBeanFord.com