Nobody likes talking about death, but it comes at a cost like most things. When you appreciate that funeral arrangements are all part of the plan you and your family can rest easier.
It’s not easy talking about funerals. Unless you have a serious illness, most of us think we’ll be fine – at least for the foreseeable future. There are so many things to do, people to see, places to go.
When the unthinkable happens it’s a shock to everyone. Everything stops. People grieve, panic and shut down. The last thing family and friends need is the additional worry of funeral arrangements.
As well as the financial implications (a funeral can be very expensive), there are many personal things that need to be just right. That’s how you’d want it, and how your family would want it.
Logic Wealth Planning has always involved funerals as part of the longer-term planning that goes together with wealth and estate planning.
We think that’s sensible. It adds up to making sure that all elements of your life have been covered, the things likely to crop up now, in a few years, and at the end of your life.
It means that you can make the plans you want, and it means there will be less pressure on your loved ones when the time comes to say farewell.
How do you pay for a funeral?
Funeral planning comes in all shapes and sizes, just like us. A funeral plan allows people to spread the future cost of a funeral over a set number of years, or until you die.
People approach funeral costs in different ways. Some take out over-50s life insurance policies, investments like ISAs or save into accounts across several years.
Unfortunately, these routes to covering funeral costs can be unreliable. They are often affected by market conditions, inflation and changes to the core costs associated with funeral services.
Worse case, there are insufficient funds available when the times comes, and additional stress is then placed on your loved ones.
A financial funeral plan
For complete reassurance for you and your family, a funeral plan is perhaps the most practical and sensible choice.
In addition to the core money considerations, you can also plan and specify how you want other important arrangements to be handled. The funeral venue, music, readings, donations to organisations. These are important things that can be overlooked or forgotten if left until the last minute.
Working with Logic Wealth Planning and our partners, you can ensure that your wishes are recorded and will be ready when required.
Also, you will be working with properly accredited and registered organisations. We can make sure that you cover all necessary (and some potentially unexpected) costs, because we have helped many clients achieve the right balance over the years.
The benefits of arranging a plan are being able to spread the costs, specify your preferences, take away pressure from your family, and of course give you peace of mind.
Importantly, you can fix the cost of the funeral service in your plan at current prices. This protects you and your family from any future increases.
We work closely with many trusted companies, all experts in their own field. That professional network means that you can focus on the things that matter to you.
All part of the plan
Getting funeral plans sorted is just one area where we can help. Logic Wealth Planning works with a range of professionals to cover the things that matter in later life.
Residential care costs continue to rise. Relying on the government to look after you or your elderly relatives is no longer realistic. Calculating what funding you will need to cover yourself is increasingly important.
The same is true for wills. Too many adults leave such matters unresolved – until it’s too late. Wills are for everyone, regardless of life-stage or your degree of wealth.
Leaving your estate, finances and funeral to chance can mean that the Rules of Intestacy can be applied. With no legally witnessed documentation in place, your wishes might not be followed.
This can lead to distress amongst all remaining relatives.
Independent advice for you and your family
Logic Wealth Planning offers a complete solution, from helping you plan investments and pensions, right through to estate planning, wills and funeral considerations.
We don’t make things complicated. In fact, we work hard to cut through confusing jargon at all stages of the planning process.
Why make things harder?
Please be aware the value of investments or income from them can fall as well as rise. We’re here to help you make informed decisions as you put important things in place for you and your family.
Call us on 0808 1234 321 or email email@example.com to discuss any aspects of estate planning, wills and funeral expenses that you need help with.
* Logic Wealth Planning provides independent financial advice in Manchester, Bury, Rochdale, Cheshire and the surrounding area, but not limited to the region.