THE GIFT OF PREPLANNING

By Ryan Helfenbein

Are you hoping that the holidays bring you a new fishing lure to catch that big one, or a gift card to the local golf course to hit the ball around a bit? Rather than wishing for things we want, have you considered focusing on what you need? We all desire things in life that we might enjoy, but we often put off the things we need. What if we take care of the one need that is guaranteed to occur to each and everyone of us? What if we preplan our own final farewell and provide the gift of peace of mind to those we love? 

Preplanning a final farewell is much simpler than one might imagine. The first step involves finding a qualified funeral/cremation professional with whom you’re comfortable. Don’t settle for someone who reminds you of Lurch from the Adams Family or Igor from Frankenstein. Take your time and find a funeral professional with whom you can have a comfortable and meaningful conversation. The topic is unsettling enough, so why make it worse than it needs to be? It is also important that this individual be licensed to offer Preneed Insurance Trusts and as a Funeral Director with added advanced training in Pre-Planning Counseling. (What I refer to as an Undertaker). This highly-trained and certified professional will aid you in navigating the options available for what you have in mind.

The second step involves talking to your Undertaker about what you envision for your final farewell. Whether you’re thinking about cremation with a service at a church, a traditional Catholic funeral mass, burial in a veterans cemetery, life celebration at the local pub or green natural burial, your Undertaker should be able to take the smallest of ideas and offer the guidance in designing an all-inclusive plan for the future.

Next, your Undertaker will help you understand the cost of every element of your plan, from transporting from place of passing to digging of the grave. Soup to nuts, they’ll see it is all included, and that you have a bottom line cost to the plans you have in mind. When the total is determined, you will be presented with options for removing the burden of payment from your family at the time of passing and guaranteeing that cost in front of you today. The most common way of securing payment is with an Irrevocable Preneed Insurance Trust. Unlike at the time of passing where 100% of the bill must be paid in full by the day of service or shortly thereafter, most well-regarded Preneed Insurance Trusts offer both single payment and interest free payments for one year. Additional monthly payment plans are often offered, but they may have additional costs associated with them. Most of these Trust options accept payments in the form of cash, check, or credit card, so there’s something that fits nearly every budget.

Once payment has been decided, an Irrevocable Agreement is made to lock your funds away and guarantee the plan you made today is secured for the future. This agreement will clearly state the plans you have made, the amount you’re paying, and the promise that the plans will be paid at the time of your passing. Additionally, due to the funds being irrevocably assigned, they are also protected from Medicaid and tax implications while providing your family protection from increasing prices on the items you’ve selected. These specialized trusts make your funds available immediately, so there is no wait time or lengthy paperwork left for your family, unlike traditional life insurance and other means of payment at the time of a passing. Regardless of when death occurs and what the cost may be in the future, your Preneed Insurance Trust is there to protect your family from financial discussions at an already emotional time. 

How about we look at the 2025 gift giving season in a different light. Let’s take care of our needs before our wants. Yes, gift cards are always a great gift for the ones we love, but let’s also consider giving a gift this year that eliminates a burdensome need by planning our final farewell now and provide our family with knowing all is in order when that day arrives long in the future.

Ryan, owner, supervising mortician and preplanning counselor at Lasting Tributes on Bestgate Road in Annapolis, offers area residents solutions to high-cost funerals. He can be contacted at (410) 897-4852 or [email protected].