There are few certainties in life. One of them is the fact that in the due course of time, we will each have the need to make final arrangements for someone close to us. Another is that we each, in our turn, will need final arrangements made for ourselves.
Making these arrangements in advance of need saves families the additional stress and hardship of coming up with thousands of dollars on the worst day of their lives. Pre-arranging also ensures that your wishes for your final arrangements will be carried out.
It is possible to save considerably on the cost of cemetery and funeral goods and services by purchasing them years, sometimes decades, in advance of need. Cemetery property such as plots, mausoleum crypts, vaults, caskets, memorials, and interment services can be pre-purchased directly from most cemeteries, and paid for on an installment plan. Cemeteries generally require payment in full when arrangements are made at the time of need.
Funeral homes are able to pre-arrange funeral services and freeze the cost of the funeral, but they cannot accept payment for services the funeral home has not yet provided. Therefore, to fund the pre-need funeral contract, we use a final-expense insurance policy. This way, the purchaser retains control of the funds until the time of need, and they do not owe taxes on the accrued value of the insurance policy. If the purchaser chooses to use another funeral home at the time of need, the insurance policy can be used at the funeral home of choice. Final-expense insurance policies in Maryland are irrevocably assigned to cover funeral expenses, and are not considered an asset for Medicaid purposes, nor are cemetery arrangements.
Resthaven Funeral Services offers funeral pre-arrangements for people at any stage of life, and in every condition of health. Please call 301-898-1577 and a licensed funeral director will be put in touch with you directly to answer your specific questions.