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Funeral FAQs #2

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Questions and Answers

Q1. What if prior arrangements have been made (and paid for) that are no longer practical?

A1.Chris and Stephanie Goes, Goes Funeral Care & Crematory:

In some situations, it might be in the best financial interest of the family to stick with those plans. Ask the manager of the plan to adhere precisely to the written plan, no changes and no additional charges.

The plans are transferable, but if it doesn’t stay at the issuing/organizing funeral home, that entity may keep a percentage of the principal and even all the growth (interest or dividends earned over years and years). Insurance currently seems to be the best option for pre-funding a funeral. With insurance, the death benefit amount can be paid to any beneficiary or even the funeral home very quickly and easily. The key here is that any monies set aside, should be kept in the purchaser’s name and ownership with the beneficiary being family or the estate

The way to accomplish this is to visit face to face with a funeral service practitioner who is trained and nationally board certified. Most people are shocked to learn that Colorado is the only state without licensing or inspections, which allows anyone with little or no qualifications to offer funeral service. True practitioners of mortuary science are trained to assist with kindness and gentleness and by asking the right questions, listening to the answers, offering ideas and insight and documenting the conversation to capture the vital statistical, biographical and preferred information. A funeral director will go over expenses so as to calculate the charges thoroughly and accurately.

Situations change and sometimes people HAVE to move for their care. If money put aside is only good at one funeral home, it may not be an ideal plan. Further, if a funeral provider doesn’t offer a fair growth value to a pre-paid funeral investment, it is not a good option for the purchaser.

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Mindy Rickard
Larimer Advance Care Planning Team
425 W. Mulberry Street #110
Fort Collins, CO 80521
970-482-1909

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