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casket legacy matters kat downey
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9 Financial Benefits of Re-Investing Your Tax Returns with an Eligible Funeral Arrangement

Do you receive a tax refund? If yes, you may be wondering how to best optimize your hard-earned money in a way that is both meaningful and financially sensible for you and your family. Why not have your money work hard for you by prepaying your future funeral arrangements? The best way to do this is by using all or part of your tax refund to set up an Eligible Funeral Arrangement. 

What is an Eligible Funeral Arrangement 

An Eligible Funeral Arrangement (EFA) is a fully prepaid or partially prepaid eventual funeral arrangement that you set up with a licensed Funeral Home and a licensed Funeral Director. 

Financial Benefits of an Eligible Funeral Arrangement 

The financial advantage of prepaying funeral arrangements is that your money is: 

  1. Always invested under your name 
  2. Your funds are insured up to $100.000.00 
  3. Your funds earn tax exempt 1.75% interest 
  4. There are no medical questions asked 
  5. It is easy to enroll 
  6. It is simple process 
  7. It is a loving gift to your family 
  8. You are in full control of your money and your wishes 
  9. You lock in the future price of the funeral and any inflationary risks rest with the funeral home, not your family.  

Why is This a Good Idea? 

Eventually, we will all need to have some type of funeral to celebrate our life. Don’t leave your family a huge funeral tab. Instead, leave them with a solid plan for how you want your life to be celebrated.  Your loved ones will be both relieved and grateful that you already have a plan in place for them to follow – completely free of financial strain or burden. Show your family how much you truly care, even after you’re gone.  

I would love to hear from you and help get the conversation started.  You can connect with me via email or telephone, leave a comment here on the site or click the contact tab at the bottom of the screen if you are reading this post on the website. Don’t forget to join the conversation on Facebook and Twitter too. 

Until next time, 

Kat 

Katherine Downey is the #1 Funeral Preplanning Professional in Canada for the fourth time. She is a professional educator, author, licensed funeral director and insurance advisor. Not only is she a Certified Professional Consultant on Ageing and an Executive Advisor, but she is compassionately understanding.  To set an appointment or have your questions answered, please contact Kat directly.  

3 Reasons this is not your News to Share on Social Media

licensed funeral preplanner MississaugaWith the advent of social media, it is so much easier to get messages out to many people quickly. This can be a good thing, and it can also backfire quickly. When a person dies and this person is not your immediate family member, is it your news to tell first that the person died? I don’t think it is. Here are 3 reasons why.

1. Premature Announcement

The public posting of someone’s death may reach some relatives before the family has had a chance to tell them themselves. Whether the death was sudden and unexpected or the family knew their loved one was dying, I feel it is the responsibility of the immediate family members to let people know in their circles, that their loved one died. Read more

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Why and How People Become Funeral Directors in Ontario

License Funeral Director OntarioThis month is the celebration of 100 years of Funeral Professionals. To the dedicated men and women who feel a sense of calling to become a funeral director, we salute you.  Have you ever wondered why and how people become Funeral Directors here in Ontario?

Often the students in the Funeral Services Program at Humber College or College Boreal express a sense of duty to learn how to assist families through the funeral process at one of the most painful and emotional times of their lives.

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Tissue Donors Set Record in 2013

tissue donationTissue donors set a record in 2013. In the Tuesday February 4, 2014 edition of the Toronto Star, Barbara Turnbull reported on Eya Kotulsky’s heart wrenching decision to consent to have her dying son’s tissues donated. As Ms. Kotulsky stated “what good could come out of this? I was trying to salvage some nobility or something. I suddenly thought to myself, he could be a donor.”

Potential organ or tissue donors are people who are considered brain dead, due to a traumatic event such as a car accident.

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