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Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.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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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
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