For most of our lives the certainties, tax and death, are just theoretical realities. Most people do not think about taxes, or do tax planning. Most people do not think about death, or do funeral planning. The best reason for doing both is simple: planning for an event we do not like to contemplate makes us think more clearly about that event, and about all the ways we can influence that event to our advantage. In the case of taxes, the advantages to planning are primarily realized in money, in the case of funerals, the advantages to planning are primarily realized in kindness, the gift to your loved ones of everything have been arranged.
I have experienced both planned and unplanned deaths in my immediate family. The unplanned death occurred as the result of an auto accident. The planned death was anticipated, the result of a long illness. Both were the same in the loss, grief, and resolution that comes with all such events. But, the one that was planned was surprisingly better. The decisions about a whole host of things were all made, the money was all spent, the only thing required of me was to grieve, to live, and heal.
Taking the time to put together a funeral plan, and set up a prepaid funeral plan, is a kindness you can only do for others, a benefit you will never enjoy yourself. Plus, if it is done correctly, and the paperwork is right, the transfer does not count against you as an applicant for Nursing Home benefits and the value of the arrangement is not included in your countable resources.
This article is written by an attorney at Wyatt & Mirabella, PC. Always consult an attorney before making any legal decisions. To make an appointment today for a free consultation, please click here to contact us.