Prepaid cremation provides peace of mind. Knowing your family won’t be burdened with financial strain or the stress of difficult decisions during an already emotional time can be a source of comfort for you and the ones you love.
In today's uncertain environment, many families are finding comfort in planning final arrangements in advance and easing the financial and emotional burdens on loved ones. Please let us know if you have any questions.
As always, we are committed to honoring your loved one in any way possible. And we will ensure you and your guests feel safe conducting services with us. Please contact us if you have questions.
People often have questions about prepaying for a cremation or a cremation memorial, and we're here to help.
In this article, you will learn:
Yes, you can prepay for a cremation. By selecting a funeral or cremation provider in advance, not only can you make your wishes known, you can also prepay for the cremation services in installments. Funeral homes, cremation providers and cemeteries don't typically offer payment plans at the time of need, but you are able to fund arrangements ahead of time with a payment plan.
Yes. Not only can you prepay for the cremation itself, most funeral homes also allow you to pay for the memorial, funeral or celebration of life in advance. This comes with the additional benefits of funding your arrangements with a payment plan, plus it takes the burden of making arrangements off loved ones during their time of grief. At funeral homes in the Dignity Memorial® family, you get the added benefit of our Relocation Protection.
From simple cremation to celebration of life or traditional funeral services, there is virtually no limit to the types of services offered for prepaid cremations. Funeral homes typically offer packages designed specifically for families choosing cremation to streamline the process. As always, they also offer a la carte options so that individuals can design their services exactly the way they want them.
Packages might include:
Yes, many people choose to prepay to have their ashes buried in a cemetery or placed in an outdoor or indoor niche. Along with traditional urns, cremation containers and scattering tubes, more contemporary memorial options, such as cremation jewelry, glass and other keepsakes, ocean memorials or cremation spaceflights can also be prepaid. Do-it-yourself options like ash scattering typically cannot be prepaid. Learn more about options for cremation burial or cemetery placement for cremation ashes.
Paying for cremation in advance has many important benefits, including:
Read Why Prepaid Funerals Are the Best Gift for Your Children.
Here's how to prepay for a cremation:
Years ago, a cremation society was an organization that helped facilitate prepaid cremations. Members paid a fee to join and got help planning their cremations and reduced rates on prepaid cremation services. The model changed to a more standard direct-to-consumer business model, but the name stuck.
Today, the word "society" is part of the names of some cremation providers that do simple cremations without services like viewings or memorials. Their locations are usually small retail shops in larger cities, as opposed to full-service funeral homes that can offer spaces for gatherings. They usually do not offer permanent placement of ashes in a cemetery, nor do they coordinate celebrations of life or receptions. Neptune Society and National Cremation Society are the two largest cremation societies in the United States.
Prepaid cremation paperwork is relatively simple and typically includes:
Some providers will also recommend that you “self-authorize” a cremation form and complete a vital statics form (name, address, parent, next of kin, race, etc.), which is needed to complete a death certificate. Having these on file makes things a little easier on your surviving family members.
The only constant in life is change. When you choose a prepaid cremation plan at a Dignity Memorial provider and then move, the plan remains in effect. If you move more than 75 miles from the location where your original arrangements were made, your prearranged services—and your cremation trust—are transferable and will be honored at any of more than 1,900 providers in the United States and Canada. Learn more about The Dignity Difference.
Whether you’re planning a cremation for a loved one or pre-planning for yourself, start with a story, passion or pastime to provide inspiration. We'll help you weave those very special memories into a beautiful service with personal touches and lasting impressions.
As you know, the gig economy has been booming over the past several years. If youre thinking of using your skills to take on a side gig, what should you do with the money youll make?Theres no one right answer for everyone, and the decisions you make should be based on your individual situation. And of course, you may simply need the extra income to support your lifestyle and pay the bills. But if you already have your cash flow in good shape, and you have some freedom with your gig money, consider these suggestions: Contribute more to your IRA. If you couldnt afford to contribute the maximum amount to your IRA, you may find it easier to do so when you have additional money coming in from a side gig. For the 2023 tax year, you can put in up to $6,500 to a traditional or Roth IRA, or $7,500 if youre 50 or older. (Starting in 2024, this extra $1,000 catch-up contribution amount may be indexed for inflation.) The amount you can contribute to a Roth IRA is reduced, and eventually eliminated, at certain income levels. Look for new investment opportunities. If youre already maxing out your IRA, you might be able to find other investment possibilities for your side gig money. For example, if you have young children, perhaps you could use some of the money to invest in a 529 education savings plan. A 529 plan offers potential tax advantages and can be used for college, qualified trade school programs, and possibly some K-12 expenses. Please keep in mind that potential tax advantages will vary from state to state. Build an emergency fund. Life is full of unexpected events and some can be quite expensive. What if you needed a major car repair or required a medical procedure that wasnt totally covered by your health insurance? Would you have the cash available to pay these bills? If not, would you be forced to dip into your IRA or 401(k)? This might not be a good move, as it could incur taxes and penalties, and deprive you of resources you might eventually need for retirement. Thats why you might want to use your gig earnings to help fund an emergency fund containing several months worth of living expenses, with the money kept in a liquid, low-risk account. To avoid being tempted to dip into your emergency fund, you may want to keep it separate from your daily spending accounts. Pay down debts. Most of us will always carry some debts, but we can usually find ways to include the bigger ones mortgage, car payments and so on into our monthly budgets. Its often the smaller debt payments, frequently associated with high-interest-rate credit cards, that cause us the most trouble, in terms of affecting our cash flow. If you can use some of your side gig money to pay down these types of debts, you could possibly ease some of the financial stress you might be feeling. And instead of directing money to pay for things you purchased in the past, you could use the funds to invest for your future.As weve seen, your side gig money could open several promising windows of opportunity so take a look through all of them. Chad Choate III, AAMS828 3rd Avenue WestBradenton, FL 34205941-462-2445chad.chaote@edwardjones.com This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones, Member SIPC
Its been a bumpy year for the financial markets which means that some of your investments may have underperformed or lost value. Can you use these losses to your advantage?Its possible. If you have some investments that have lost value, you could sell them to offset taxable capital gains from other investments. If your losses exceed gains for the year, you could use the remaining losses to offset up to $3,000 of ordinary income. And any amount over $3,000 can be carried forward to offset gains in future years. This tax-loss harvesting can be advantageous if you plan to sell investments that youve held in taxable accounts for years and that have grown significantly in value. And you might receive some gains even if you take no action yourself. For example, when you own mutual funds, the fund manager can decide to sell stocks or other investments within the funds portfolio and then pay you a portion of the proceeds. These payments, known as capital gains distributions, are taxable to you whether you take them as cash or reinvest them back into the fund. Still, despite the possible tax benefits of selling investments whose price has fallen, you need to consider carefully whether such a move is in your best interest. If an investment has a clear place in your holdings, and it offers good business fundamentals and favorable prospects, you might not want to sell it just because its value has dropped. On the other hand, if the investments youre thinking of selling are quite similar to others you own, it might make sense to sell, take the tax loss and then use the proceeds of the sale to purchase new investments that can help fill any gaps in your portfolio. If you do sell an investment and reinvest the funds, youll want to be sure your new investment is different in nature from the one you sold. Otherwise, you could risk triggering the wash sale rule, which states that if you sell an investment at a loss and buy the same or a substantially identical investment within 30 days before or after the sale, the loss is generally disallowed for income tax purposes.Heres one more point to keep in mind about tax-loss harvesting: Youll need to take into account just how long youve held the investments youre considering selling. Thats because long-term losses are first applied against long-term gains, while short-term losses are first applied against short-term gains. (Long-term is defined as more than a year; short-term is one year or less.) If you have excess losses in one category, you can then apply them to gains of either type. Long-term capital gains are taxed at 0%, 15% or 20%, depending on your income, while short-term gains are taxed at your ordinary income tax rate. So, from a tax perspective, taking short-term losses could provide greater benefits if your tax rate is higher than the highest capital gains rate.Youll want to contact your tax advisor to determine whether tax-loss harvesting is appropriate for your situation and youll need to do it soon because the deadline is Dec. 31. But whether you pursue this technique this year or not, you may want to keep it in mind for the future because youll always have investment tax issues to consider. Chad Choate III, AAMS828 3rd Avenue WestBradenton, FL 34205941-462-2445chad.chaote@edwardjones.com This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.Edward Jones, Member SIPC
As you go through life, youll have various financial goals and to achieve them, youll need to invest. But just recognizing the need to invest is not as useful as matching specific types of accounts or investments with specific goals. How can you make these connections?Lets look at some common goals and how they could possibly be met with appropriate accounts and investments: Saving for a down payment on a house When youre saving for a down payment, you want a certain amount of money available at a certain time so, for this goal, you wont want to take too much risk. Consequently, you might consider investing in certificates of deposit (CDs), which will pay you regular interest payments and return your principal when the CDs mature. CDs are issued in a range of maturities, from one month to 10 years. Other vehicles you might consider are money market accounts or other cash equivalents. Saving for a childs education If you have children, and youd like to help them pay for some form of higher education, you may want to consider a 529 education savings plan. Any earnings growth in a 529 plan is federally tax free, provided the withdrawals are used for qualified education expenses, and you may also receive state tax benefits. A 529 plan can be used for college, approved trade school programs, student loan repayments and some K-12 costs. And if the child youve named as a beneficiary chooses not to continue their education, and doesnt need the money in a 529 plan, you can generally switch beneficiaries to another immediate family member. Saving for retirement This is the one goal that will remain consistent throughout your working years after all, you could spend two or even three decades in retirement, so youll need to accumulate as many financial resources as you can to pay for those years. Fortunately, you likely have access to several good retirement-savings vehicles. If you work for a business, you might have a 401(k) plan, which offers you the chance to put away money on a tax-deferred basis. (If you have a Roth option in your 401(k), your withdrawals can be tax free, although, unlike a traditional 401(k), your contributions wont lower your taxable income.) If you work for a public school or a nonprofit organization, you may be able to participate in a 403(b) plan, which is quite similar to a 401(k), and the same is true if you work for a state or local government, where you might have a 457(b) plan. And even if you invest in any of these plans, you can probably also contribute to an IRA, which gives you another chance to invest on a tax-deferred basis (or tax-free basis, if youre eligible for a Roth IRA). Try to take full advantage of whatever retirement plans are available to you.Here's one final point to keep in mind: While some investments and accounts are appropriate for certain goals, they may not necessarily be suitable for your individual situation so keep all your options in mind and take the steps that are right for you. Chad Choate III, AAMS828 3rd Avenue WestBradenton, FL 34205941-462-2445chad.chaote@edwardjones.com This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones, Member SIPC