Funeral News Tips

Why Pre-Planned Funeral Is A Wise Financial Management Decision

It is very common for grieving families to be at a loss when it comes to deciding on the funeral services in Sydney that they want for the dearly departed. Families are highly emotional and distressed that making a decision becomes very difficult. Aside from tradition and beliefs that weigh heavily in decision-making, there is also the question of money.

According to Marc Herbert, president of The Harbour Group, Inc. a certified financial analyst, pre-planning for a funeral can be daunting but it eases the financial burden on the surviving family. The question however with pre-planning is whether it is a viable financial option.

Like all other financial options, it is important to explore all the pros and cons of pre-paying for a funeral. Pre-paying for a funeral means that the funeral arrangements will be made according to your requirements. If the option is ground burial, you can choose the cemetery plot you want including the location whichmay no longer be available 10 years from now.

Pre-paying also allows you to consider the costs. Frequently, surviving families decide based on emotions but if the funeral is pre-planned, the decision will be based on practicality. The family is prevented from overspending because you have already decided wisely before the sad event. Additionally, you will be paying in today’s dollars and not the worth of dollars 10 years after.

However, pre-planning has its share its share of risks. The money you paid the funeral provider may get lost in case the business decides to close. Before you sign on the contract, make sure that there is consumer protection provided in the state.

It is important to determine whether the contract specifically states that that your remains cannot be transferred to another funeral home. It is difficult to foresee the future; the family may decide to transfer to another state. Will the contract allow ground burial in a different location?

One of the services offered by funeral services in Sydney is pre-planned funeral. The process is done according to the rules and regulations provided by the government of Australia. The money that is paid in advance for the funeral will be invested wisely and prudently.