Although it’s a rare occurrence and few people think it can happen to them, there are incidences in which a United States citizen dies while living or vacationing abroad. This can be a trying experience. In addition to dealing with the grief of loss, there is quite a bit of red tape to go through in order to transfer the body of the deceased and to get all the appropriate paperwork to settle the estate.
Archive for the ‘Estate Planning’ Category
What to Do When a Loved One Dies Overseas
Friday, August 31st, 2012Funeral Planning: Online Wills
Tuesday, August 28th, 2012
One of the biggest steps you’ll take during the process of estate and funeral planning is to create a will. This legally-binding document contains directives how to disburse your estate after you are gone, including how and where your property and assets are divided (as well as the care of any dependents you leave behind). Although the traditional method has always been to draft a will under the direction and guidance of a lawyer, the ease of online transactions has made online wills more popular than ever before.
And while there are benefits to drafting an online will, it’s not the right solution for everyone. If you’re in the funeral planning stages and are considering looking to the Internet for your will and estate needs, here are a few considerations to keep in mind.
POD Funeral Plans
Thursday, August 23rd, 2012
There are many different ways to pre-plan a funeral, ranging from funeral insurance policies and fully arranging all the details to pre-paid packages that cover your entire funeral costs. All of these options come with their own pros and cons, and choosing which one is right for you can take a little bit of advance research.
One of the less common options is to have a POD account (Payable on Death) set up for the beneficiary of your choosing.
End-of-Life Care: Preparing for the Funeral
Wednesday, July 25th, 2012
One of the greatest gifts we can give families as they prepare for the loss of a loved one is assistance with funeral planning. These days, most funerals cost in excess of $10,000 and require dozens of decisions related to the type of interment, a final resting place, and how to celebrate the life of the deceased.
When people have been given the chance to put their affairs in order in the days, weeks, or months leading up to death, all these choices become a little easier. That’s because in addition to having more time to make the difficult decisions, families can also ensure that they make the most out of the funeral planning.
Who Has the Legal Right to Make Funeral Decisions?
Monday, July 2nd, 2012
If a loved one dies and there is contention within the family, it can be difficult for everyone to agree on the right decisions to make regarding funeral planning and other burial decisions. While many families are able to work this sort of situation out for themselves, some struggle with finding a way to stay true to the wishes of the deceased and adhering to their own individual views on death.
How to Discuss Your Pre-Plan Funeral Arrangements with Family
Friday, June 22nd, 2012
You’re a planner. You’ve made all the arrangements for your funeral long before it’s necessary, selecting the right package and payment plan and getting your affairs in order with plenty of time to spare. According to all the rulebooks, you’ve done things right and can rest comfortably knowing that your family won’t have to deal with the financial and emotional stresses of planning a funeral.
How to Pay for a Funeral
Friday, June 15th, 2012
Although rates of advance funeral planning are on the rise, the majority of people aren’t financially prepared to pay for a funeral. With a price tag of anywhere from a few thousand to up to $10,000, it’s not easy to come up with the money necessary to make the final arrangements—especially if you’re forced to wait weeks or even months for a life insurance policy to pay out.
Age Caps and Health Restrictions on Burial Insurance
Sunday, June 10th, 2012
While burial insurance (also known as funeral insurance) is a great option for those who want to pre-arrange a funeral for a low upfront cost, it isn’t available to everyone. Like most other types of personal insurance (health and life), your age and health will determine your premium rates and whether or not you qualify for that policy as all.
Things to Consider Before Buying Prepaid Funeral Insurance
Tuesday, May 29th, 2012
If you’ve been debating whether you want to purchase funeral insurance, burial insurance, a pre-paid funeral plan, or another advance preparation package, it’s a good idea to weigh the pros and cons of each one. Factors like your age, your financial situation, and even your wishes will play a role in which plan is right for you.
iMortuary’s team includes funeral professionals to help you outline your wishes and understand prices and your financial options. Simply complete our brief online form to begin this no-obligation conversation. After you talk with us, we assist you with finalizing pre-payments or filing your arrangements with a funeral home.
For many people—especially those who are taking early steps to make financial arrangements for a funeral or other service—funeral insurance or “final expense” insurance is a popular option. Instead of selecting precise funeral services or making all the arrangements, you simply have a sum set aside for disbursement at the time of death. Sometimes, the funds are tied in to a specific funeral home; other times, you name a beneficiary who will take over the funeral plans once you pass. In either case, you get to determine how you want the insurance plan to work when you first sign up for it.
Leave Behind a Legacy
Thursday, May 17th, 2012
The iMortuary team thanks guest author, George Shaw for this blog post.
As we age, we begin to think more deeply and realistically about how we would like to be remembered in the future. Certainly, for those who have substantial financial means, there is the possibility of leaving large charitable donations to organizations that have meaning in return for recognition. Yet, in the case of most other individuals, it may be necessary to get more creative in terms of leaving a future legacy.
