What You Need to Know About Funeral Contracts
When it comes to pre-funding arrangements for funerals, there are different types of contracts available to consider:
1. Revocable Funeral Contracts
A revocable funeral contract allows you to make changes to your funeral arrangements or cancel the contract at any time.
2. Irrevocable Funeral Contracts
On the other hand, an irrevocable funeral contract locks in the funeral services and prices, protecting the funds from being used for anything other than funeral expenses.
3. Transferable Funeral Contracts
Transferable funeral contracts allow you to transfer the funds to another funeral home if you move or change your preference.
Before making a decision on pre-funding your funeral, it is important to understand the different types of funeral contracts available. Each type offers its own benefits and considerations. Revocable contracts provide flexibility, while irrevocable contracts offer financial protection. Transferable contracts allow for mobility and customization.
By knowing the options, you can choose the type of funeral contract that aligns with your preferences and financial goals. Consider discussing with a funeral director or financial advisor to determine the best option for your specific situation.