Planning for the Future

It just makes Sense!

In a 1999 survey by the American Association of Retired Persons, one in five Americans age 50 and older have experienced funeral arranging and/or advance planning. Twenty-nine percent of those arranging for a funeral found some details to have been already planned and paid for. The AARP has also stated that more and more Americans are entering into "preneed agreements" to purchase funeral goods and services before death. In a 1998 survey, AARP found thirty-two percent of those surveyed to have paid in advance for some or all of their funeral and/or burial expenses.

Planning in advance is much more than a money issue. Planning starts off with information gathering and organizing, which relieves survivors of the task of searching for birth certificates, military papers, social security numbers, cemetery property deeds and more. The next step is to review the choices and options for services and put the selections down on paper. A casket and other merchandise can be selected, or survivors can be given the remaining choices to be made when the need arises. Funding for a funeral in advance is the last step, and while optional, for many people this is a wise step to take. If one is unsure whether they want to fund a funeral in advance, they can and should go ahead to make plans without funding.

People who make advance plans have many different reasons. Some people after retirement make their arrangements so they have nothing else to worry about and to relieve their children from the frustration of trying to figure out what their true wishes were. Others with little or no family around make their own arrangements to make sure their wishes are known and carried out. People who will be in need of receiving Medicaid must "spend down" their assets prior to becoming eligible for assistance and are encouraged to plan for and pay in advance for their funeral.

Ask anyone who has made arrangements in advance and you will hear for yourself of all the advantages. In a recent survey mailed in following a funeral, a survivor (who also has made advance plans) stated: "Prepaid funerals are the way to go – less stress, less hassle, more time to deal with family and not be pulled in other directions." In 1998, a person wrote Dear Abby in praise of advance planning: "Years ago, both my parents had the foresight to preplan and pay all of their funeral arrangements. All Dad had to do for Mother’s service was order the flowers; then we were able to share condolences with more than 500 guests. It made her funeral a beautiful time of reuniting old friends and family."

People funding a funeral in advance can be able to pay at today’s costs for future service. This is a unique situation one can take advantage of. Where else can one get something in the future based on current costs? This enables people to have control over how and when they will make payments unlike what happens after a sudden death occurs, with no plans in place.

One can choose to make a single payment, pay for part now and part later, or over time with a payment plan for three, five or ten years depending on the method of funding they choose!

In the State of New Jersey, advance funding is very safe. It is important to know that the funeral home does not deposit and keep any money. 100% of all monies paid in advance to Sheenan Funeral Home go either into a trust fund or a Forethought^® life insurance policy. There are other policies one may hear about, but the Forethought^® plan is the one which stands out above the rest. Specially since the Sheenan reputation is centered around "trust," Tom Sheenan carefully investigated Forethought^® before placing his full trust in them. All arrangements are transferable. If someone moves, they can take their advance funding with them. The State Department of Banking and Insurance and Division of Consumer Affairs maintain well defined guidelines and regulations protecting all who make advance plans and guarantees that families will be getting all the benefits that are promised. Members of our staff are licensed by the state and are appointed agents of Forethought Life Insurance Company, Batesville, IN.

Funding in advance is not meant to replace life insurance. Life insurance is important to have in covering all the other expenses a family may incur preceding a death. This includes hospitalization, home care, loss of income, unpaid bills and other incidental expenses. What may have been a more than adequate policy for ones needs twenty years ago may no longer be enough. On a regular basis one should review all of their plans and policies to make sure they are well covered.