Putting Your Tax Refund To Good Use: Funeral Pre-Planning

Posted on: 4 February 2015

As tax season comes and goes, you may be wondering what you should do with that big tax refund you are expecting this year. While you may be tempted to splurge on a big vacation or on that big-screen TV you've been coveting for months, there are more practical and useful ways you can put your tax refund to use. One such way is to put your tax refund towards pre-planning for your funeral. The benefits on investing in funeral pre-planning are numerous and widespread. So, before you disregard the idea as too morbid or as not enough fun for your refund, consider these potential benefits to you and your loved ones. 

Take Pressure Off Of Your Loved Ones

When a loved one passes away, those who are left behind have to pickup the pieces. Grief, stress, and extreme emotions are difficult to deal with and make practical thinking and planning next to impossible to accomplish. 

If you do not pre-plan your funeral, you will be placing added pressure and burden on your loved ones to arrange and plan your funeral and final resting place. This can be emotionally, mentally, and financially taxing to loved ones who need time to grieve and mourn in peace.

So, rather than place extra burden on your family members to try to give you the send-off they think you would have wanted, plan ahead of time so they already know what you want. All that they will need to do in these circumstances is oversee the execution of those plans to ensure that your wishes are carried out properly. 

Save Money By Pre-Planning

An additional benefit to pre-planning your funeral is that you can save a great deal of money on your funeral costs. This is because you are paying for services at the current price point rather than the point in the future. 

Additionally, funeral homes prefer to have clients who pre-plan their funerals. This represents guaranteed business for their establishment, and as such they often offer discounts and packaged deals that can save you and your loved ones additional money.

When a loved one passes without a pre-planned and prepaid funeral (and purchased burial plot), their family becomes fiscally responsible. The estate of the recently deceased may or may not cover the costs, potentially leaving the family to pay the costs out-of pocket. 

When it comes to spending your tax refund, the benefits of using it to pre-plan and prepay your funeral are numerous. From the various financial benefits, to the relief to you and your family knowing that everything is taken care of, funeral pre-planning can help you a great deal. So, put that refund to good use this year.