The most important thing to do is to talk to your spouse and children if you already purchased a prepaid full-burial policy. You don't want your family to find out after they already paid for your arrangements that prepaid policy existed. Funerals can be expensive, especially if you pay twice. Trying to receive a refund can be time consuming and costly.
"Consumer surveys show that most people don't shop around for a funeral — they pick the funeral home closest to them, or the one their family has always used," says Josh Slocum of the Funeral Consumers Alliance.
It is important to do your homework. Some prepaid plans can actually cost you more in payments over time than the amount they'll pay out on your funeral. Instead, you may want to set up a "payable upon death" bank account. It will earn interest, be available for an emergency, and still provide financial support to your family when you pass away.
Bradford Miller Law can help you incorporate this information into your Estate documents. We can advise you from a legal standpoint and help you prepare all the documentation suited to your personal information.
See our website for helpful information regarding Estate Planning.
Posted by Bradford Miller Law, P.C.
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602
312-238-9298
http://www.bradfordmillerlaw.com
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