Many people plan ahead and prepare their own final arrangements, some will even pre-pay, although most funeral homes don’t require it. 

Why is planning ahead a good idea? 

It saves your family and friends from having to make many difficult decisions during a time of grief. 

It gives you a say in planning your own arrangements. 

It gives you time to assess and compare your options.

It helps family and legal representatives who will be making arrangements at the time of need. 

A reputable funeral home will assist you in completing the pre-arrangement forms. You can either meet with the funeral director or pick up the forms to take home and review your options. Your decisions can usually be recorded and kept on file at the funeral home. It is essential to inform your family and your physician if you have made pre-arrangements with a specific funeral home. 

Take note: After your death, your executor or legal representative has the right to change your pre-arranged funeral, burial, or cremation plans. It is, therefore, imperative to discuss your wishes with him/her and provide them with a copy of your plan. 

The Cost of a Funeral 

The most modest funeral, with casket and memorial service will cost between $10,000 to $15,000, although it is not uncommon to pay $25,000 for a service. 

Although many people do, you do not have to pay in advance for your final arrangements. Some providers may keep a record of your arrangements without a fee. Be sure to ask your provider about this service. 

How Can I Prepay for my Arrangements? 

You can pay the money to the Provider to be held for you ‘in-trust’. This means your money will be safely held at a bank, trust company or with an independent trustee. It will earn interest over the years until it is needed to pay for the services or supplies you have requested. The income earned from the money will offset any increased costs due to inflation. 

 You can also purchase an insurance policy to cover the funeral expenses. This can be done through the provider, whereas the provider will be the beneficiary of the policy and use the money to pay for the arrangements. Or you can purchase a policy independently from someone like me (a licensed insurance agent) and have your estate made the beneficiary, with instructions in your will that this money will be used for your final expenses. 

Cancelling your Prepaid Contract 

You, your legal representative, or another person in the contract may cancel or change your prepaid contract before providing services. Written notice to the provider will be required. However, you may not get all your money back. Be sure to review the contract terms and the provider’s cancellation policy. 

Regardless of age, estate planning is essential to life planning. If you don’t know where to begin, give me a call. 

Have a great weekend, 

Tracey 

In Loving memory of my mother, Margaret Grace Rindfleisch, January 2, 1938 – May 12, 2025. 

I’ll miss you, mama. 

All insurance and segregated fund transactions are provided through Qualified Financial Services (QFS). Any information in the enclosed note is provided by Tracey Marshall who is a registered insurance agent under the Financial Services Commission of Ontario. QFS is not affiliated or related to Security Financial Services. 

Sources: 

https://www.ontario.ca/laws/statute/02f33

https://archive.org/details/canadianguidetow0000john/mode/2up

Chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.self-counsel.com/docs/so_you’ve_been_appointed_executor.pdf