Even though prearranging is an important step in pre-planning your funeral, making arrangements to care for the future costs of your services is equally important. Many people plan on using savings, life insurance, or other assets to pay for their funeral services at the time of their death. However, these may not be wise choices.
 
Savings:

Life savings are often depleted by long term hospital or nursing center stays well before the time of death.

Often personal bank accounts are “frozen” at the time of death and the funds are not readily available to pay for funeral expenses.

Accounts may be tied up in probate and unavailable for use
The future value of savings may be diminished by low interest rates and high inflation.

Life Insurance and Other Assets:

Many life insurance policies have a fixed death benefit that do not accumulate value.

Medicaid and SSI may require life insurance policies to be “cashed in” and the proceeds spent toward personal health care.

Real estate and personal property may be liquidated to provide for living expenses or be tied up for months in probate.

Spence Funeral Services offers affordable plans to fit every situation. Plus, there are no age or health limitations. Our plan is designed to keep pace with the rising costs of our services and merchandise. Funds can also be put aside for related funeral expenses such as cemetery charges, newspapers, death certificates, family flowers, funeral luncheon, etc.

Please contact Spence Funeral Services for specific information about pre-planning.