Pre-Paid Funeral Plans
For many families, funeral costs can represent a sudden and unexpected financial burden. This is why many people choose to take care of things early with Pre-Paid Funeral Plans, taking the financial pressure off their family before the time comes. By choosing to smooth out your funeral costs over a period of time, you can have one less thing on your mind.
Our Pre-Paid Funeral Plans are managed by setting up a dedicated trust account to which you can make payments to. The money cannot be accessed without a death certificate, and you earn compound interest on any amount that accrues, with no fees payable.
Take advantage of the peace of mind that comes from knowing you are taking care of the future. Avoid adding financial stress to what can be the most difficult time of your life, and start saving into one of Abraham’s Funeral Home Pre-Paid Funeral Plans today.
Our Pre-Paid Funeral Plans
We set up an account under your name in an ANZ Trust Account that can only be drawn from on production of a certified copy of the death certificate. This means that we cannot withdraw any of your saved money until after your loved one’s death. The money is solely reserved for funeral costs.
Your money is in your name and is not considered a company asset. Therefore any interest that accrues is yours to keep, and there is no taxation on the accrued amount. It is a cash investment solely dedicated to celebrating your loved one’s life. You can rest assured that when the time comes, the expenses will be covered.
We don’t charge any administration fees, so your savings will not be whittled away in the meantime. Whatever you deposit into the account will stay there as a safeguard against an unnecessary financial burden. Pre-Paid Funeral Plans make sense financially and emotionally.
Why Pre-Paid Funeral Plans?
You earn interest – all interest earned is compounding and remains yours. Therefore as you add to it, you know it will grow for the benefit of your loved one’s funeral.
The first $10,000 held in the account is excluded from asset testing when the assessment is being made for eligibility for long term care of the elderly. Therefore it is a true investment and not a liability.
Tax that may accumulate from that account is automatically paid by the bank. Therefore you will not be caught out at tax time.
You can pay as little as you wish or up to $10,000 per person. The arrangement is entirely flexible and accommodates your needs and wishes.
There are no fees. This means that the amount deposited will not be slowly drained by fees and charges. It remains a safeguarded investment towards the costs of saying goodbye when the time comes.