Over the past few years, the bereavement sector has seen a shift into the corporate sphere. This may be an uncomfortable reality for some individuals or families who have already pre-arranged — and even prepaid — their final rites; it was independent when you made your relationship with the funeral home, but now it has been bought out by a corporation that is or will be making changes to the business. What to do?
You can always transfer your pre-arrangements to another establishment. Believe it or not, it’s easier than you would think.
In fact, it is as easy as a visit to the funeral home of your choice. Let them know about your existing arrangements, and leave your wishes on file with the new establishment. You’ll receive a few documents for you and your Estate Trustee to place in safe keeping. The rest of it will be taken care of by your new funeral home. Easy peasy.
And, if you have prepaid, you do not need to worry; your money is always your money, held in trust by a third party. The funeral establishment holds it in trust until the time comes for that money to cover the costs of the contract for which it is prepaid. You can have it back at any time, and transferring your policy between establishments is an easy feat. You don’t even have to do anything, because that part is up to the funeral home. If you were planning on funding your funeral through an insurance policy or annuity contract, all you will have to do is fill out a form, which will be provided to you by the funeral director.
It is worth noting, however, that the previous establishment which oversaw the investment of your prepaid funds has the right to keep ten percent, up to but not exceeding $350.00. This is an administrative fee, which may be written into your contract, and may be applied to your cancellation, though not all establishments will deduct this fee. But, if you decide to cancel your contract within the thirty-day cooling-off period, then this is a non-issue.
There are many reasons why you may wish to transfer your funeral pre-arrangements to a new funeral home; whether you have moved, the funeral home has been bought out or closed, or you simply feel more comfortable somewhere else. Whatever the case, know that you always have options. You are never locked into a contract until all the goods and services have been provided. So, if you have reason to find a place for yourself within another funeral home, do not be afraid to make the change. First and foremost, you must do what is right for you, and your loved ones.