Prepaid Funerals

Why a prepaid funeral?

One of the most thoughtful things one can do for your family is to pre-pay for your funeral. This may provide special financial benefits to pensioners and retirees. Serious consideration should be given to this concept. The procedure can be as simple or detailed as you desire. We will help ensure that, as closely as possible, your wishes are carried out when the time comes. We will then professionally attend to all necessary pre-planned arrangements, with the least possible burden to grieving loved ones.

For peace of mind, many people take the next step and pre-pay for their funeral. In Victoria it is a requirement under The Funerals Act 2006 that your funds are placed in a capital guaranteed manner, ensuring that your investment is protected.

Understandably, this thoughtful consideration takes a great load off the grieving family at the time of passing. Loved ones are given the opportunity to mourn their loss without having the additional stress and burden of not being aware of any of the deceased’s funeral wishes. Nor is there a concern regarding payment for the funeral. Some benefits of pre-paying your funeral include-

  • Financial – Taking away the financial burden for your loved ones plus at the same time taking advantage of any Centrelink benefits that might be available.
  • Organisation – Greatly reducing the amount of time your family will have to spend on difficult administrative matters.
  • Focus on family matters – Increasing the time that your family will have together supporting each other at a most difficult time.
  • Comfort – You will be reassuring your family that you were prepared. Your thoughtful planning will assist the family to find a level of peace in the days following your passing.
For anyone considering this thoughtful and worthwhile option, we offer a free copy of Michael McQueen’s ‘Memento’. This beautifully crafted gift book consists of 130 questions designed to help you record and pass on the stories and experiences of your life to the next generation. This book is a wonderful resource not only for the coming generations but for your family putting together your eulogy and funeral service. Your personality will be captured for posterity in the pages of this journal for generations to come.

What do I need to be aware of?

  1. Are your funds lodged in a Friendly Society Funeral Bond or similarly approved investment as prescribed by the Funerals Act 2006?
  2. Do you receive a copy of the Bond Certificate, numbered and in your name?
  3. Are the funds protected and guaranteed by the institution ensuring that no one (not even the funeral director) can obtain the funds until the time of death?
  4. Is the fund tax advantaged under the IncomeTax Assessment Act?
  5. Is the fund approved by Centrelink as an exempt fund for the purposes of the Assets Test, Income Test and Deeming Provisions?
  6. Do you receive a written contract setting out all arrangements and guaranteeing they will be carried out without additional cost to you, your estate, or your family?
  7. Is your prospective funeral director LONG ESTABLISHED, reputable and highly regarded in your community
  8. Is your funeral director conversant with the laws governing pre-paid funerals?
  9. Does your prospective funeral director have an impeccable history of financial stability?

At Mulqueen Family Funeral Directors the answer is ‘yes’ to all of these questions, giving you peace of mind knowing that everything will be taken care of with the utmost professionalism. This is the response you should expect from a family funeral business with a significant history of looking after a substantial number of prepaid and preplanned funerals.

A pre-planned or pre-arranged funeral

A pre arranged funeral has many of the benefits of a pre-paid funeral excepting the fact that there is no requirement for payment. It does however ensure that your family and loved ones will be comfortable in the knowledge that your funeral wishes have been recorded and placed in the care of Mulqueen Family Funeral Directors.