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Dianne Williams Wildt, MBA

Certified Retirement Counselor®

Since 1983 in the financial services and investment industry

 

Retirement Pathways, Inc.

4500 Bowling Blvd., Suite 100

Louisville, KY 40207

 

Phone:  502-797-1258

 

Email: dianne@retirementpathways.com

Website: www.retirementpathways.com

May/June 2024

Should You Prepay Funeral Costs?

Should You Prepay Funeral Costs

There is no right or wrong answer, but you’ll want to review the pros and cons of prepaying funeral expenses.


The Pros:

  • When you prepay, you lock in today’s prices. Even if costs increase, the money you’ve given the funeral home is guaranteed to cover the goods and services you’ve selected.

  • Your personal arrangement with the funeral home guarantees you’ll have the funeral you want.

  • Your loved ones won’t have to make decisions about the details of your funeral.


The Cons:

  • The money you use to prepay expenses is controlled by the funeral home director, not by you.

  • The funeral home you have chosen could go out of business or change ownership.

  • You usually can’t transfer your prepaid plan to another funeral home if you move or die in another location.


If you decide to prepay funeral expenses, make sure you have a written document outlining the products and services you’re entitled to receive. Keep it with your will, and tell loved ones about the arrangement.


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Investment advisory services offered through American Capital Management, Inc., a State Registered Investment Advisor. Retirement Pathways, Inc. is independent of American Capital Management, Inc.
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