Summit Financial Advisors logo

Jamie Letcher

VP, Wealth Management

 

Summit Financial Advisors

Located at Summit Credit Union

401 S. Yellowstone Drive

Madison, WI 53719

 

Phone:  608-271-1012

 

Email: james.letcher@lpl.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.

542810-6

Previous Next

CONTACT US

Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Summit Credit Union and Summit Financial Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Summit Financial Advsiors, and may also be employees of Summit Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, Summit Credit Union or Summit Financial Advisors. Securities and insurance offered through LPL or its affiliates are:

Disclosure
This publication is not intended as legal or tax advice. All individuals, including those involved in the estate planning process, are advised to meet with their tax and legal professionals. The individual sponsor of this newsletter will work with your tax and legal advisors to help select appropriate product solutions. We do not endorse or guarantee the content or services of any website mentioned in this newsletter. We encourage you to review the privacy policy of each website you visit. Limitations, restrictions and other rules and regulations apply to many of the financial and insurance products and concepts presented in this newsletter, and they may differ according to individual situations. The publisher and sponsor do not assume liability for financial decisions based on the newsletter’s contents.
The sender and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.