Consider Pre-Planning Funeral Expenses when Fiscal Planning in the New Year. Especially younger people.

 

 

Bob Spahn is an Elmhurst based Financial Advisor. He’s seen his industry change and adapt over the years to become more sensitive to advance planning for healthcare, housing, and any number of expected and unexpected eventualities that may come up. An area that has seen great awareness and greater growth is Pre-planning and pre-funding of funeral expenses. According to studies, Bob relays that on average, “Funeral expenses double over the course of 12 years”. So, the time to plan is not “at retirement”, but earlier than that to maximize the benefits of hedging inflation on an inevitable expense.

Aside from the financial benefits, and even more important in many cases, is that pre-planning removes a great burden from families by having choices and preferences recorded and kept on file well in advance. Loved ones are not guessing what your desires are during a very difficult time of loss for them. If the plan is pre-funded, it removes any financial strain on surviving family members. At Gibbons, the funeral home arrangements cost is honored at the time the pre-funding occurs. That policy is held independently by a separate insurance entity. If a family has moved, the pre-planning funding policy can be transferred to another funeral home.

People have always been a bit uncomfortable discussing life insurance, wills or funeral planning. “As a financial planner, I highly recommend that people address these concerns when they’re younger,” says Mr. Spahn, adding, “it’s a much easier discussion when a person is not facing any imminent health concerns”.

Whether you have pre-planned, would be interested in pre-planning or you have an at-need circumstance, the Gibbons Family is here to serve your family. If you have any questions about pre-planning or any aspect of funeral arrangements, please contact us with no obligation, at 630-832-0018 or www.gibbonsfuneralhome.com

We’re here 24 hours a day/7 day a week. Whenever our family can assist yours.

Advertisements