Pre-Arrange Your Funeral
When you’re thinking of the important “life tasks” to address, we often consider purchasing a home to build equity, saving for retirement, creating a Will, and taking out life insurance. One of the least likely you’re bound to think of first is pre-arranging your own funeral. Not many of us really like to think about our own mortality, let alone our own funeral. But the opportunity to plan ahead and make things easier for your family is real. Making your wishes known to your spouse/family is important, and putting a plan in place is the key to making sure that virtually everything is looked after. Many have recognized this, and as a result pre-arrangements are becoming more and more common as people, even if they are quite young, look to lessen the load on their families.
Why pre-arrange your own funeral? If you’re young, in shape, healthy and happy, this really doesn’t seem necessary, but, what if the worst happened? What if we got seriously ill or involved in an unfortunate accident? If your family had to arrange your funeral, how would that affect them? Losing a family member can paralyze a family.
We all know that death is inevitable, but what many of us don’t realize is the amount of work left to be done when someone passes away. Given the opportunity to give it thought, many of us would likely have specific wishes that we want carried out. Do you want a traditional burial, cremation or both? Many are opting for a celebration of life versus a traditional funeral.
Estate Documentation. Outside of legal and financial documents, there is a host of government forms and other documents to be completed that could consume hours and hours of time. What money is the survivor owed? Are there any insurance policies? Did they work overseas and are they eligible for foreign pensions?
Will. Is there one? Does it outline how the estate needs to be divided? Instructions in a Will or list indicating how you wish your funeral to be arranged are not legally binding, but can be very useful. Normally, estate trustees use a Will or documented memorandum to the extent that they are able to do so. It can also be used to support the decisions made by the estate trustee in planning the funeral or burial.
Most people don’t realize that pre-arranging their funeral may not cost them a cent. Many funeral homes offer monthly installment plans, in addition to the option of not paying anything until the time of death. Furthermore, pre-paid funerals can be insured to make it even more financially feasible. This gives those prearranging the option of removing the financial burden if they have the means/desire. Did you know that an executor/estate trustee pays the expenses of a funeral from the assets of the deceased?
As we all age, it’s important to think about how our death could affect those that we love. With the substantial amount of details to be addressed at such an emotionally charged time, one of the most thoughtful things you can do for your family may be to reduce the burden by pre-arranging your funeral.
Identity Theft & the Deceased
Question: What is identity theft? How many different types are there?
Answer: There are essentially 5 categories of identity theft:
- Business/commercial identity theft (using another’s business name to obtain credit))
- Criminal identity theft (posing as another person when apprehended for a crime)
- Financial identity theft (using another’s identity to obtain credit, goods and services)
- Identity cloning (using another’s information to assume his or her identity in daily life)
- Medical identity theft (using another’s identity to obtain medical care or drugs)
In 2009, 6.5% of all Canadian adults (nearly 1.7 million people) were the victim of some kind of identity fraud. It look over 20 million hours and $150 million to resolve these problems. In cases where full identities are created for the purpose of obtaining official identity documents, accessing government services and/or evading authorities, deceased persons provide a useful basis for the fraud. Also, there is evidence of U.S. citizens fraudulently accessing the Canadian healthcare system using the identities of deceased Canadians.
The good news is that we can all be extra vigilant and take precautions, but what about the deceased?
One of the major areas that Peacehold adds value is through identity theft prevention. Our extensive, proprietary process allows us to uncover any known official (foreign or domestic) government documentation and have them properly retired. Additionally, we apply a formal death alert through the two major credit bureaus in the country, which dramatically minimizes the risk of someone assuming the identity of the deceased.
The Peacehold Process
It’s as easy as 1-2-3.
For each family, our Associates review hundreds of documents, and choose only those which are necessary and relevant.
1. Talk to the Peacehold Associate in your area. All it takes is about 30 minutes to collect the necessary details.
2. We complete all the paperwork and mail you the documents ready for signature. All necessary fields are clearly marked and each document comes with a pre-addressed, postage paid envelope. If you have any questions upon receiving this package, our Associates are simply a phone call away and only too happy to guide you through the process.
3. Sign where indicated, enclose the required certificates and drop the envelopes in the mail. If you have any follow-up questions or additional information is uncovered, we’re at your service for a full year after receiving your package from us at no additional charge.
