As part of my estate planning, DW and I are considering prearranging our final arrangements. We started last year by spending big bucks on a couple of side-by-side plots. Now we are considering at the very least prearranging our funeral/burial and possibly even prepaying.
So, does anybody have any real life experiences prepaying for final arrangements? Any pros/cons? Do/Don'ts? Horror stories?
I believe the cemetery and funeral home we'll be using put the money in a funeral trust account at a local bank. I don't think they use any kind of life insurance. My 97 dad has prepaid for his at the same place, but doesn't remember any details. I do know he gets an interest statement every year at tax time.
So, does anybody have any real life experiences prepaying for final arrangements? Any pros/cons? Do/Don'ts? Horror stories?
I believe the cemetery and funeral home we'll be using put the money in a funeral trust account at a local bank. I don't think they use any kind of life insurance. My 97 dad has prepaid for his at the same place, but doesn't remember any details. I do know he gets an interest statement every year at tax time.