Risks of Pre-paying for Funeral Expenses

For many years consumer advocates have cautioned against paying in advance for funeral arrangements. If you are thinking about pre-paying for funeral expenses, we highly recommend that you read some of the many warnings published online.  Here are a few of them. We have tried to pick credible sources. Please contact us if some of these links are no longer functioning.

The Motley Fool

https://www.fool.com/investing/general/2016/01/05/3-reasons-you-should-never-prepay-funeral-expenses.aspx

Kiplinger’s Retirement Report.

http://www.kiplinger.com/article/retirement/T037-C000-S001-prepaid-funeral-plans-can-be-a-r-i-p-off.html

Funeral Ethics Organization

http://www.funeralethics.org/WA.pdf

Elder Law Answers

https://www.elderlawanswers.com/pre-paid-funeral-plans-buyer-beware-1098

New York Times

https://newoldage.blogs.nytimes.com/2009/07/08/the-caregivers-last-expense/

Wall Street Journal

(sorry, a lot of newspapers are putting up paywalls so this link is useless if you are not a subscriber)

https://www.wsj.com/articles/SB10001424052748704513104575256613550131600

FBI (Federal Bureau of Investigation)

https://www.fbi.gov/news/stories/prepaid-funeral-scam