why you should include funeral planning in missouri in your estate plan
TRANSCRIPT
Missouri Advanced Directives – What You Need to Know
WHY YOU SHOULD INCLUDE FUNERAL
PLANNING IN MISSOURI IN YOUR ESTATE PLAN
Why You Should Include Funeral Planning in Missouri in Your Estate Plan www.yourestatematters.com 2
Like most people, you likely prefer not to dwell on the fact that you will not live forever.
Consequently, the thought of planning your funeral and burial may not sound very
attractive to you. At the same time, however, like many people you may have strong
feelings about the disposition of your body after death as well as the way in which you
will be remembered by family and loved ones. For these reasons alone you should
consider including a funeral planning component to your overall estate plan. Even if you
do not have a preference for how your funeral and burial is handled, planning ahead will
Why You Should Include Funeral Planning in Missouri in Your Estate Plan www.yourestatematters.com 3
dramatically reduce the pressure on your loved ones to do so at a time when they will
be grieving your loss.
What Happens If You Don’t Plan Ahead?
No one really wants to plan their own funeral and burial; however, if you do not include
funeral planning in your estate plan your loved ones will have to do so after your death.
Funeral planning requires a number of extremely important, and costly, decisions to be
made. Those decisions are not easy to make under ideal circumstances. Immediately
following the death of a spouse, parent, child, or other loved one hardly qualifies as
“ideal circumstances”. Consider just a few of the problems that commonly occur when
funeral planning is done after death instead of ahead of time:
Loved ones spend too much money because they are not thinking clearly and are
talked into unnecessary expenses.
Why You Should Include Funeral Planning in Missouri in Your Estate Plan www.yourestatematters.com 4
Friends and family scramble to put together the funds needed to pay for the
funeral and burial.
The decedent’s wishes are not honored because no one is sure what they are.
Conflict occurs within the family over who should make decisions.
Important people are left out of the service altogether
The decedent’ wishes cannot be honored because of the last minute planning. For
example, space is not available in the cemetery or state laws forbid spreading ashes
where the decedent wanted them spread.
Why You Should Include Funeral Planning in Missouri in Your Estate Plan www.yourestatematters.com 5
What Decisions Should be Made Ahead of Time?
Hopefully, the benefits of planning ahead are now clear. Once you have decided
to include funeral planning in your estate plan you will need to start making
important decisions. Some common decisions that people make when funeral
planning include:
Whether to be cremated or buried.
Where to be buried or where to scatter ashes.
What type of memorial service to have – formal service, small gathering, or an
Irish wake, for example?
Open casket or closed?
Who will preside over the ceremony?
Who will speak at the service?
Who will be the pallbearers?
Flower and music choices.
Why You Should Include Funeral Planning in Missouri in Your Estate Plan www.yourestatematters.com 6
Should You Pre-Pay for Your Funeral and Service?
Planning ahead doesn’t always mean paying ahead, though that is an option. Pre-paid
funeral plans are relatively popular these days; however, you will need to consider the
advantages and disadvantages of pre-paying for your funeral. Furthermore, there are
several ways to pre-pay for your funeral and service. The primary advantage to pre-
paying is that it means your loved ones will not have to worry about putting together
the funds to cover the funeral and burial on short notice immediately following your
death. If you do decide to arrange for payment ahead of time there are a few common
methods of doing so, including:
Why You Should Include Funeral Planning in Missouri in Your Estate Plan www.yourestatematters.com 7
Designated account – this is the simplest, though least reliable, method. You may
simply designate a financial account as your “funeral account” and ensure that
the person you wish to be in charge of the arrangements has access to the
account. Among the problems with this method, however, are:
o Something could happen to the individual you designate
o The account may be
held up in probate
o There is no guarantee
the funds will be used
as intended
o There is no guarantee
that your wishes will
be followed.
o The funds are at risk
should you fall on hard
times or end up with a judgment against you.
Pre-paid funeral contract – this involves entering into a contract with a funeral
home and paying for the entire service and burial now. While this does ensure
that you wishes will be honored, there are a number of potential risks when you
pre-pay a funeral home, such as:
o The funeral home could go out of business
o The funeral home could change ownership and refuse to honor the
contract
Why You Should Include Funeral Planning in Missouri in Your Estate Plan www.yourestatematters.com 8
o The contract often includes an “escape clause” that allows the funeral
home to charge more when the time comes if prices have increased
significantly.
o You could move to another state, or even country, and no longer wish your
service to be held in the city in which the contract was signed.
Funeral trust –a funeral trust eliminates most of the potential problems found
with the previous
options. With a
funeral trust you
create a trust and
appoint a Trustee.
The Trustee will be
responsible for
making all the
arrangements after
your death. The
trust terms will include your wishes with regard to the funeral and
burial/cremation. Often, people choose to fund a funeral trust with a life
insurance policy that names the trust as the beneficiary. That way, the policy pays
out into the trust and the trust then covers all funeral and burial expenses.
Among the benefits to a funeral trust are:
o Ability to name a Trustee and successor Trustees, thereby avoiding family
conflict.
o Use of trust terms to ensure that all details of the service and burial are
carried out according to your wishes.
Why You Should Include Funeral Planning in Missouri in Your Estate Plan www.yourestatematters.com 9
o Flexibility – you are not locked into a contract
The trust and life insurance proceeds are not part of the probate of your estate.
Telling Your Loved Ones about Your Plans
Creating a funeral plan only works if your loved ones know the plan exists. Regardless of
how you decide to implement your plan, there are some final steps you need to take
once the plan is in place, including:
Sit down with family and loved ones and explain the plan.
Create a “Letter of Instructions”. This is simply a letter you write to loved ones
explaining details and/or decisions relating to your estate plan. This can be used
in lieu of sitting down and explaining your plans or as a way to recap what you
told everyone.
Make sure your estate planning attorney has copies of everything pertaining to
the plan.
Keep a copy of all relevant documents in a fire-proof safe at home. Do not rely on
a safe deposit box at a bank as it may take too long to gain access to the box.
Give a copy to the Executor named in your Last Will and Testament.
Incorporating a funeral plan into your comprehensive estate plan may be the best “gift”
you leave behind for your loved ones. If you have additional question or concerns
regarding funeral planning, consult with your Missouri estate planning attorney.
Federal Trade Commission, Planning Your Own Funeral
Findlaw, Funeral Planning FAQ
NOLO, Planning Your Funeral or Memorial Service
Why You Should Include Funeral Planning in Missouri in Your Estate Plan www.yourestatematters.com 10
Estate Planning and Elder Law Attorneys in St. Louis, MO St. Louis Estate Planning Attorneys: Planning for Your Future Today
Missouri Estate Planning attorneys Amen, Gantner & Capriano, Your Estate
Matters, L.L.C. are here to help you with legal issues regarding St. Louis Elder
Law, Veterans Aid and Assistance, Probate, Wills, Trusts, Trust Administration,
Powers of Attorney, Health Care Directives, LGBT, and all things required to
establish a proper estate plan for the future of both you and your loved ones.
Our law firm understands the varying dynamics of modern families and seeks to
address these issues in the estate plan so your estate is distributed only to those
who you request, instead of those who may be otherwise legally obliged to it.
Estate planning can be a big project that requires consistent maintenance;
however, our professional Estate Planning attorneys can organize all of the legal
paperwork and logistics for you, while offering helpful legal advice along the
way.
Amen, Gantner & Capriano, Your Estate Matters, L.L.C. 10805 Sunset Office Dr., Suite #100
St. Louis, MO 63127 Phone: (314) 966-8077
Estate Planning and Elder Law Attorneys in St. Louis, MO St. Louis Estate Planning Attorneys: Planning for Your Future Today
Missouri Estate Planning attorneys Amen, Gantner & Capriano, Your Estate Matters, L.L.C. are
here to help you with legal issues regarding St. Louis Elder Law, Veterans Aid and Assistance,
Probate, Wills, Trusts, Trust Administration, Powers of Attorney, Health Care Directives, LGBT,
and all things required to establish a proper estate plan for the future of both you and your loved
ones. Our law firm understands the varying dynamics of modern families and seeks to address
these issues in the estate plan so your estate is distributed only to those who you request, instead
of those who may be otherwise legally obliged to it. Estate planning can be a big project that
requires consistent maintenance; however, our professional Estate Planning attorneys can
organize all of the legal paperwork and logistics for you, while offering helpful legal advice along
the way.
Amen, Gantner & Capriano, Your Estate Matters, L.L.C. 10805 Sunset Office Dr., Suite #100
St. Louis, MO 63127 Phone: (314) 966-8077
www.YourEstateMatters.com