Why you should consider pre-planning your own funeral
At AGS, we believe an important part of your financial plan includes looking after the next generation. This involves both transferring wealth and minimizing the trauma and uncertainty experienced by your loved ones when it is time to say goodbye. While you may have thought about making a will and related estate planning matters, have you considered pre-planning your funeral?
4 reasons to consider pre-planning your funeral
According to Guardian Funerals*, planning your own funeral can feel daunting but can provide several financial and non-financial benefits.
1. Ease the burden
Pre-planning gives your family space and time to mourn, while the experts handle all the details according to your plan.
2. Safeguard against rising costs
Funerals can be a significant financial burden, especially if death is sudden. With a pre-paid funeral plan, you can take care of the cost ahead of time, protecting against inflation.
3. Say goodbye your way
By pre-planning every detail of your funeral – from the type of service to the music played - it’s your chance to be the author of your own story and make your funeral service a true reflection of who you are.
4. Centrelink Exemptions
The Australian Government uses an assets test to determine pension entitlements for retirees. Guardian Plan* prepaid funerals are exempt from these tests, making it a simple way for seniors to maintain their current age pension benefits. Pre-purchased burial plots also receive an exemption from the assets test. In the case of Guardian Plan, your funds will be securely held by The Over Fifty Guardian Friendly Society Limited, regulated by APRA, until the time comes to release them. More than 70,000 customers currently have in excess of $600 million of funds under management with the Society.
What’s involved in a pre-planned funeral process?
Begin a conversation with an experienced team such as Guardian Funerals. You’ll discuss details like the location, flowers, music, who you would like to conduct the funeral, who should speak, and any other aspects to make it exactly the way you want it.
You can pay in full or in instalments over up to three years, covering the entire cost of your planned funeral. Prepaid services through Guardian Plan cover the entire cost of the funeral you’ve planned, so your loved ones won’t have to pay any additional costs due to inflation or hidden extras after you pass.
Disclaimer: *Guardian Funerals is part of InvoCare, Australia’s leading provider of funeral and related services. For more information speak with a pre-planning specialist today at 1300 181 300 or visit guardianfunerals.com.auGuardian Plan is a funeral bond issued by The Over Fifty Guardian Friendly Society Limited (ABN 81 087 649 063 AFSL 524353).Please obtain professional advice from us here at AGS Financial Group before making any investment decision.