casket legacy matters kat downey
, , ,

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, 


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.  

, , ,

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.

Read more

, , , ,

Ontario Office of the Public Guardian & Trustee – Roles & Responsibilities

bigstock-Family-Law-22123721The role and responsibilities of The Office of the Public Guardian and Trustee (OPGT), under the auspices of the Ministry of the Attorney General – Family Justice Services Division in Ontario, are to safeguard the legal, personal and financial interest of private individuals and estates. The focus here is on the private individual.

Recently two people shared with me that they had to go through this process with the OPGT office to be appointed Guardian for their mother and aunt respectively.  The process was time consuming, emotionally draining and cost several thousands of dollars.

Read more

, ,

Are your Affairs in Order?

18766738_sFive words that will change your life:  “Are your affairs in order?” or perhaps you know someone who has been told “You better get your affairs in order.”

When people hear this, there has usually been a sudden change in their health, serious illness, an accident or even imminent death.  Of the approximately 300,000 deaths per year in Canada about 30% of these are sudden and unexpected.  The remaining 70% of these deaths or 200,000 deaths are known and expected.  Are your affairs in order? –  Is the gift of time.

How the individual hearing these words or their loved ones’ deals with this knowledge can be very diverse.  Certainly there can be anger, denial, procrastination, and any myriad of other emotions.  Or these words can ignite action.

Read more