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Birth, marriage, death - these are three of life's major events. While preparation for a birth or marriage is joyous, planning a funeral is not. For that reason, many well intentioned, intelligent people postpone taking the simple steps necessary to protect their loves ones.

Before you say, "Prearranging my funeral is not for me," imagine how much more stressful funeral planning will be for your family members, when you, or another loved one dies unexpectedly, and arrangements must be made at once. At such times, emotional reactions can hamper judgement, leaving survivors to always wonder if they made the right decisions.

Prearranging a funeral includes important emotional considerations, such as style of funeral and/or memorial service, selection of casket and vault, single burial or family plot, and, even flowers, music or favorite scriptures. However, there are many decisions that acquire unhurried, unemotional logic.

For some, an important decision is whether to choose a cemetery where succeeding generations of family members may be memorialized, or select a single grave at the time of need. Others realize funeral prices in Knoxville can range from $3,500.00 to $35,000.00 per person, depending on the type of services and merchandise selected. As a result, the cost factor alone can emphasize the need for unhurried, unemotional logic. Paying cash at time of need can pose a serious financial burden for a family.

These people, especially, will benefit from having made arrangements ahead of time, on terms designed to fit their budget. Even those for whom cost is no object may understand the wisdom of inflation proofing the process. By buying tomorrow's funeral at today's prices, they are guaranteed to reserve the best at the least cost.

Fortunately, the wide array of prearrangement options now available enable consumers to avoid much of the stress and difficulties involved in funeral arrangements. At the same time, it allows them to control prices and curb inflation.

Pre-Planning for Your Future: Estate Planning, Insurance and Living Wills

The prearrangement process generally consists of two components. The first is the arrangement of details. The second is funding (a guaranteed payment method which freezes costs of services and merchandise, before need arises.)

The first component is an agreement between a client and a licensed funeral establishment. The agreement provides a descriptive breakdown of the casket, outer burial container (vault), and services selected, along with the price of each item. The information is recorded on a Federal Trade Commission (FTC) approved "Statement of Funeral Goods and Merchandise Selected." As a part of this agreement, vital statistical information is recorded, and specific accurate funeral instructions are individually prepared for each client, according to his or her preferences.

The second component is termed "funding." In Tennessee, there are basically three types of "funding vehicles" used to hold money for a preneed arrangements.

INSURANCE: The consumer purchases an insurance policy, with either a one-time deposit, or through monthly premiums. The policy is specifically designed to cover the cost of the funeral service outlined on the Statement of Goods and Services Selected. A family member is usually named beneficiary of this policy.

ANNUITY: Similar to insurance, in that a licensed life insurance agent prepares the plan, the annuity plan takes an amount of money equal to the cost of the funeral and deposits it into an account owned by the client. The money then earns interest on a tax-deferred basis. Payment programs, with no finance charge, are available for up to eighty-four (84) months, depending upon age. A beneficiary is named, and the money will go to the funeral home at the time of need, to cover the expenses as agreed.

TRUST: Money collected equal to the cost of the funeral is deposited in a bank trust. The funeral home is usually the beneficiary and receives funds at the time of the funeral service. In setting up a trust, a licensed funeral director must prepare the trust agreement.

If this article reaches you at a time of personal loss, please accept our sincere apology. Unfortunately, not everyone has the luxury of preplanning. Those who do can take steps to ensure their family's peace of mind. Even those unable to freeze costs at today's prices, should, at the very least, take time to record vital information and plan personal funeral wishes. This particular service costs you nothing and can be done in the comfort and privacy of your own home.

No one who has prearranged with a reputable funeral home or cemetery has ever had a surviving family after the funeral say, "I'm so sorry my dad (mother, husband, wife) took care of their funeral arrangements ahead of time." Usually, what is expressed is, "I'm so grateful he/she/we insisted on making the arrangements back then. I don't know how I could have handled that along with everything else."

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