New Year Resolution – Preplanning End of Life

2020 is here. New year, new decade.

As you resolve to do better by cutting back on this, going cold turkey on that, consider taking the time to weigh in on that last big milestone. No, we’re not talking about your wedding or retirement. We’re talking about preplanning and funding your funeral or memorial service. Much like a wedding and retirement, planning a funeral service requires extensive planning and a host of decisions. Preplanning your funeral is by no means a breeze, but doing so can ease the emotional and financial burden on your loved ones, so that they may focus on what’s really important: celebrating your life and honoring your legacy.

While getting in shape, eating right, and satisfying your wanderlust are all commendable albeit daunting resolutions—so, too, is estate planning. Where do you even begin, right? Thankfully, you need not do it all at once. Making arrangements for your funeral or memorial service can be accomplished outside of a larger estate planning project. Best of all, the planning and paperwork, including how to pre-fund the policy, can usually be put to bed in a single meeting. Simply sit down with a representative, discuss your final wishes, and frame a policy that best suits your needs.

Even in 2020, death is still seen by many as a taboo topic. No one likes to think about death, let alone plan for it. As difficult as it may be to discuss, preplanning your funeral services has numerous benefits. From casket selection to flower arrangements, funerals are nothing if not costly; but preplanning your funeral can invariably save you money. Some funeral homes offer significant discounts to those that take advantage of their pre-planning services. For example, prepaying a funeral service effectively locks-in the rate, thereby assuring your final wishes for years to come. There are extended coverage options available should you perish while traveling abroad. What’s more, paying off the cost of the funeral over time removes the burden from your loved ones, barring familial disagreements or concerns about the individual(s) responsible for footing the bill for the services, and relinquishing them from guessing and even second-guessing your final wishes. Preplanning your funeral is a thoughtful decision that will aid your family through a difficult time by preventing unnecessary stress and confusion over what you would have wanted.

Whether formal or informal, there is no shortage of ways to preplan a funeral or memorial service. It can be as effortless as jotting down your wishes and giving it to a trusted relative or close friend. More formal, contractual arrangements can be set up with a funeral home or crematory and pre-funded through life insurance, trust agreement, bank account, or any number of methods. It’s important that your executor know where these funds are located and that they have access to said accounts when the time comes. In situations where death is imminent, the wisest course of action is to set aside money in a joint account with a trusted person, so that they can access the funds when needed. On the other hand, if death is not imminent, then consider allocating the funeral funds to a trust or policy to bypass taxes on the interest income.

Nowadays, preplanning and prepaying your final arrangements is the smart thing to do. While most of us intend to live for a long time, the inevitability of death and managing the impact of that untimely burden on those closest to you has contributed to an uptick in funeral pre-planning. Aside from granting you control over your body and final arrangements, preplanning is beneficial for getting ahead of the funeral home industry prices and locking in the rate of eternity. Be aware that if you are collaborating with a licensed funeral establishment, be certain that they are working with a FDIC-insured bank or insurance company; this ensures you are receiving tax-free growth on your funds. 

Start the New Year off right. Call Secure Your Legacy and get your questions answered today. One-on-one consultations are available to help you prepare and document your final wishes within an hour. Don’t delay another year. Call today and get the peace-of-mind from knowing that you’ve made final plans. For more information visit our website at, or call us at (832) 953-4229. We are licensed by the State of Texas and are registered A+ with the Better Business Bureau 


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