Prepaid Funeral Planning
A funeral is a time to remember all the precious moments you shared with your loved one.
By arranging your funeral in advance, you’ll be freeing your loved ones of the mental and financial burden of doing it for you. So when the time comes, all your friends and family will need to do is remember you.
Planning your funeral in advance is also a positive and financially prudent way of putting your affairs in order.
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Most of us plan for the years ahead. We plan for almost every aspect of life. Having a family, holidays, weddings and retirement are all events to which we give serious thought. This is why many people today are pre-arranging their own funeral. This involves spending time with our funeral consultant, who records all the choices you make for your funeral.
Pre-Arranged Funeral Plan
The information is held by the funeral home and, at the time of need, assists the surviving family members in the funeral arrangement process. The payment is made at time of need at the rates then applicable.
Pre-Paid Funeral Plan
This is simply a way of arranging and paying for a funeral in advance.
Today we are encouraged to plan ahead. Pre-planning your funeral gives you the peace of mind that your choices will be acted upon. Prepaying the funeral fixes the cost of the items selected and paid for at today’s price, your family will not be faced with any increases to these costs (excluding statutory changes which may affect prepaid funerals). This is true peace of mind. The emotional and financial stress of arranging the funeral would be taken care of. For a more detailed account of Prepaid Funerals, ask for our brochure with the bonus personal profile included.
The benefits of a pre-paid funeral:
- Knowing that your loved ones will be relieved of many burdensome decisions at one of the most difficult times of their lives.
- Husband and wife pre-planning together avoid the ‘at need’ confusion of well-meaning relatives.
- Avoids the need to make many decisions in a very short time.
- Provides time for you to think and reconsider, knowing that the funeral will reflect your expressed wishes.
- Arranging your own service ensures that it is conducted as you wish, not as others wish.
- Planning for the inevitable is logical and right; it just makes good sense.
- Assures an appropriate service, eliminating concern about the family getting ‘carried away’ because of grief, exhaustion, sorrow, confusion or guilt.
- Knowing that the funeral will not be a financial burden on your family.
- Protects against inflation by ‘freezing the price’.
- Making an outlay for funeral expenses at a time when it’s more affordable.
- Life insurance can be used for family expenses, as it should be.
- Monies paid are no longer part of your estate and therefore not subject to estate administration expenses.
Frequently Asked Pre-paid Planning Questions
Who should know about the plan?
Some people may feel comfortable discussing their funeral plans with a spouse, adult children or another member of the family.
Others, however, may prefer to make arrangements directly with Leanne O’Dea in complete confidence. We would strongly advise that, if the immediate family is not informed, a trusted friend, solicitor, executor or your GP be notified when a plan is purchased.
Your family also benefits from a prepaid funeral plan
Many people are concerned about who will have to meet their funeral expenses when death occurs. In the future, someone will be responsible for making the funeral arrangements and paying for them. One way of handling this responsibility is to shift the burden from the family by arranging a Prepaid Funeral Plan.
How does a prepaid funeral plan work?
A Prepaid Funeral Plan is a contract between you and funeral director. A Prepaid Funeral Plan is simply a way of arranging and paying for a funeral in advance. The price of the funeral is fixed at present day rates and Leanne O’Dea will carry out the funeral, as arranged, whenever it is required in years to come.
How secure are my funds?
Funds are placed with an investment manager in accordance with the Fair Trading (prepaid Funeral Code of Practice) Regulations 2020. The funeral investment must be designated in the name of the client. The funds are only released after the funeral arranged for the recipient has been carried out, as per the prepaid funeral contract.
The plan is open to everyone
Any person, regardless of age or state of health, can take advantage of a Prepaid Funeral Plan at any time. No declarations are necessary and there is no time limit on when the service is to be provided.
Prepaid Funeral Planning is seen by many people as a realistic and sensible priority for later life, ensuring family security and peace of mind.
Our Prepaid Funeral Planning Division has grown each year, as people from varying walks of life have become more aware of the many benefits the service offers.
How much does a prepaid funeral plan cost?
The cost of a Prepaid Funeral Plan will vary, depending on the type of funeral service that you choose. A consultant will discuss with you the different types of funeral services, including burial, cremation and other options. Many people now pre-pay for their funeral earlier in life because the cost is more affordable, the price is protected against inflation and they can become involved in the decisions made on the funeral.
Can you pay by instalments?
Instead of paying the agreed cost of the Prepaid Funeral Plan immediately, you may choose to pay by regular monthly instalments over 12, 24 or 36 months.
If the funeral is required before the plan has been paid in full we will still conduct the funeral in accordance with your wishes. Payment of the outstanding amount will then be the responsibility of the person authorised to finalise your funeral arrangements, with our usual at need terms for the outstanding balance.
What if my circumstances change?
Please discuss with your consultant at the time of arrangement so your specific circumstances can be addressed.
What is included in a prepaid funeral?
Today we are encouraged to plan ahead. Pre-planning your funeral gives you the peace of mind that your choices will be acted upon. Pre-paying the funeral fixes the cost of the items selected and paid for at today’s price.
What is covered in your prepaid funeral plan will vary depending on your personal choices. We have a number of options to choose from, ranging from premium services to no service options. For more information, please see Our Service options on the Bowra & O’Dea or Leanne O’Dea website. Alternatively, you can contact the prepaid administrator for further information on 9231 5100.
What next?
To find out what service would suit you best, fill out the contact form below and a friendly consultant will be in touch or visit our Planner Tool with step-by-step instructions and price estimates at each stage.
Resources
Links to Support Groups
- Bereavement Care Centre
- Beyond Blue
- Cancer Foundation WA
- CentreCare Loss and Grief Services
- Childhood Grief
- Compassionate Friends of WA
- Dougy Centre (Grieving children and families)
- Impressionable Kids
- LifeLine WA
- Palliative Care WA
- People Living With Aids in WA
- R U OK
- Reachout (Adolescent support)
- Red Nose Grief and Loss
- St John of God Health Care
- Sands
- SIDS
- The Samaritans – Shadow of suicide WA
- WA Suicide Prevention Network
- WA Mental Health Commission – Information about suicide