Advance Planning Information

Mealey Funeral Home
If you would like, at no obligation, more information on advance planning a funeral, please contact our Funeral Home at (302-652-5913) or E-Mail us or you may visit our Web Site, http://www.mealeyfuneralhomes.com.

Advance Planning FAQ

Q. What is Advance Planning or Pre-Arranging?
A. Advance planning or Pre-Arranging is the recording of your preferences regarding funeral arrangements. It can include biographical data, selection of merchandise, type of service to be held, music, pallbearers, disposition requests and anything else that you may desire.

Q. How Will Pre-Planning and Pre-Funding Help My Family?
A. There are 2 very significant ways Pre-Planning and Pre-Paying for your funeral will help your family. First it guarantees that your wishes will be fulfilled. Second, if you pre-fund your funeral, most likely it will relieve your family from paying the funeral costs. Typically pre-paying or pre-funding funerals occur either through a "Trust Account" or a "Pre-Need Insurance Policy."

Q. Why Should I Consider Pre-Arranging A Funeral?
A. There are many advantages to advance planning a funeral for the consumer.

  1. Generally speaking, an informed consumer is better satisfied.
  2. Sound, educated decisions can be made while emotions are at rest.
  3. Your wishes and desires will most likely be fulfilled.

Q. Do I Need To Pay For My Funeral If I Pre-Plan?
A. No. There are many options available to the consumer when advance planning.

  1. Many times individuals want to pay for their funeral well in advance. This may eliminate a burden to their family when a pre-need becomes an at-need funeral. Also, there may be a need to "spend down" assets (Medicaid) for Federal assistance to offset the cost of a Nursing Home stay.
  2. There are 2 primary ways to fund a Pre-Arranged Funeral. A Trust Account set up at a local bank or a Pre-Need insurance policy that many funeral homes participate in. Trust accounts may carry a tax liability due to the interest earned on that account.

Q. What is the difference between a Trust Account and a Pre-Need Insurance Policy?
A. The Pre-Need Insurance Market is highly competitive and is providing more and more services and benefits to the consumer through growth of the product, the immediate increase of value to the product, and making pre-need insurance consumer friendly. Most Pre-Need Products offer a better growth rate than a traditional "Certificate of Deposit" or "Trust Account" and do not have the tax consequences (liability) that the earned income has through a CD.

Please contact this funeral home or the funeral home of your choice, should you desire more information on Pre-Planning.

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