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Showing posts with the label Funeral Bond

Why pre-paying your funeral makes sense

Prepaid Funerals - a Popular Choice It makes a lot of sense to pre-arrange and pre-pay for your funeral care. Prepaid funerals (including direct, 'no service' cremations) involve planning and establishing funeral expenses ahead of time, ensuring that all necessary preparations are handled prior to one's passing. Doing this has become increasingly popular. At Evermore Funerals, we offer straightforward and transparent prepaid funeral plans. As a locally owned business with deep community values, we are committed to assisting people in arranging the services they require. So what are the benefits of prepaying a funeral or direct cremation? Pay now, and save While funeral costs continue to increase, prepaying for your funeral arrangements means you can lock in those costs at today's prices. Flexible Options for Payment When prepaying, you can choose to either pay the full amount in one lump sum, or in manageable instalments. Peace of Mind A prepaid funeral can reduce the a...

What is a Funeral Bond?

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  When prepaying for your funeral, the most common way to formalise this is by setting up a Funeral Bond . A Funeral Bond is a type of "investment" that allows you to allocate funds specifically for funeral expenses, with the money only being accessible after your passing . You have the option to pay a lump sum or make regular contributions, and the funds accrue interest, but they cannot be withdrawn early for other uses. These bonds provide tax-effective savings and can be excluded from government income and assets tests up to $15,750, offering a way to plan for funeral costs without financially burdening your loved ones.   A regular Funeral Bond is simply money that is set aside and accrues a little interest over time. This money then contributes to covering some of the costs involved in a funeral when the time comes. However a "prepaid Funeral Bond" sets a fixed amount aside which - in conjunction with a fixed-price contract - will cover the costs of the agreed s...