Of all the ways we can express love, one of the most thoughtful involves funeral
planning before the need arises. By taking the necessary steps now, you can
spare those you love unnecessary hardship later.
There are various ways you can plan a funeral. Whether you choose to pre-plan, prearrange or even prepay, make a decision that feels right. Takings steps to being prepared provides a wide range of benefits for you and your family, including the ability to:
Make your funeral wishes know to your family and your funeral director.
Educate yourself about the many decisions involved in planning a funeral. Your choices are nearly limitless, and narrowing the decisions ahead of time can help.
Make adjustments when the time comes. Life is full of change, and your loved ones may want to make a few adjustments later on that make the service even more meaningful. For that reason, your plan should be flexible enough to accommodate new thoughts and considerations that arise as time passes.
Taking your plan to the next step
The most important thing to remember in this process is that you should do what is right for you and your family. While pre-planning your funeral is the foundation for a variety of planning options, individuals also find prepaying to be advantageous, both personally and financially.
Prepaying helps to ensure that the financial responsibility for funeral costs is not placed on your family members. Completing this in advance relieves survivors from paying for these costs. If you are able to purchase a guaranteed-price contract, you may also save money because prices will be locked in at today's rates, eliminating the effects of inflation. Prepayment may also help you qualify for Medicaid/SSI benefits at an earlier time.
Options for prepaying funeral arrangements may include:
A regulated trust that can be established by a licensed funeral director.
A savings or certificate of deposit account earmarked for funeral expenses, however this does not protect from inflation or Medicaid.
A Funeral Life Insurance policy.
Why choose Martinson Funeral Home?
Sometimes funeral homes in our area hire commissioned sales people to sell their services. Not us. That's because we know that families should insist on the services of a licensed funeral director to reap the many benefits and protections:
We have been formally trained and educated to provide funeral services.
We assist you with your prearrangement AND care for you at the time of need.
We are regularly supervised and monitored by our state and thoroughly educated in the latest options.
We are NOT commissioned sales people...
We have no quotas to meet nor commissions
to award. 100% of your money is yours.
Pre-Paid Funeral Contracts
Client pays current Price of Funeral for a Future Guaranteed Price on an unknown date - guaranteeing no additional costs to the client.
Funds are held by a Third Party Escrow Agent - All Money Paid is set into a Trust under the Michigan Funeral Director's Association (MFDA).
The Martinson Funeral home does NOT have access to the Funds Paid into the Account.
This Account is yours to be sheltered until your time of need.
Accounts Grow in Value by earning Interest and/or Dividends.
May be Guaranteed or Non-Guaranteed.
Funeral trusts may or may not be guaranteed to keep up with inflation for a specified period of time. With a guaranteed, fully funded trust, there is no balance due at the time of death. If a trust contract is not guaranteed or fully funded, there may be a balance due to the funeral provider.
Guaranteed Accounts: Martinson Funeral Home guarantees that accumulated growth of the account will cover all goods and services regardless of how many years go by.
Account owner may be liable for Federal and State Income Tax on annual growth of the account. Tax Exempt plans are available.
Usually paid in a lump sum to the Funeral Home at the time of the Prearrangement for the services selected. Payment Plans are also available if it better suits the client's needs.
By placing money into a Prearrangement Contract, you may shelter Assets and avoid government penalties if applying for a Medicaid or other programs.
Your money may be taken out at anytime - it is yours, NOT ours. We are the facilitators of the escrow account, you are always the owners. (Withdrawal of money before the time of need may be subject to a MFDA Cancellation Fee).
Many options are available for sheltering money into a Prearrangement Escrow Account that can qualify you for Medicaid benefits.