By the time a person reaches a certain age, it’s reasonable to plan ahead for Funeral Services in Middletown, OH. This can be done with the funeral home of the person’s preference and can include all the details wanted. Prepaying is generally inadvisable, however. There are other ways this individual can set aside funds so the practical matters are covered.
Two Problems With Prepaying
One problem with paying ahead of time is that the funeral home’s situation may change. Even if the organization has been in business for more than a generation, there’s a possibility it could close down before the customer passes away. That could mean the loss of all money provided for prepayment.
Also, if for any reason the person wants to cancel, only a partial refund might be made. Canceling might seem highly unlikely. However, someone who prearranges a funeral at age 70 and then lives for another 20 years might still have significant life experiences such as getting married or relocating to another state where the adult children have moved to. This could result in the person wanting to change those earlier plans.
Better ways are available for setting aside money to pay for Funeral Services in Middletown, OH in the future.
A Savings Instrument
One is to open a money market or certificate of deposit dedicated to this purpose. The account will gain interest over the years that can be used for the funeral if the cost has grown higher than the money originally set aside. If there is more money than needed, it can be provided to the heirs or a charity of the person’s choice.
Life Insurance
A second is to draw up a life insurance policy specifically for this use. The family then can utilize the funds to pay for the service and other details.
After setting up an arrangement with an organization such as Dodds Memorials, documentation should be provided to the immediate family members so they are completely aware of the plan. To get a sense of what this particular funeral home is like, interested men and women may visit the Twitter feed.
