How to Pre-Pay a Funeral
by MSO
Open an account now to start saving for your funeral. It will put less of a financial burden on loved ones when you pass away.
There are a variety of methods available to pre-pay for a funeral. Funeral homes can set up a regulated trust. You can purchase a life-insurance policy that would cover the cost of a funeral. Individuals can establish a bank account specifically for funeral expenses. You can have the bank pay it directly to the funeral home at your death.
In choosing a funeral home and setting up your pre-paid funeral ask these important questions.
* Who receives the interest on the account?
* Who must pay taxes on the interest?
* Is the prepayment ever refundable, in part or in full?
* Can the plan be used at a funeral home of your choice?
* What happens if the funeral home goes out of business or is sold?
*Can you transfer the plan if you move?
Read more:
http://www.milliondollarjourney.com/the-prepaid-funeral-advantages-disadvantages.htm
Tags: bank account, pre-pay, regulated trust