We have become accustomed to the fact that matters in law control our lives to a very great extent, but in death it is probably even more so. We are prone to put off doing things , preferring to ignore matters that should be attended to now.
Legal documents – such as wills, life insurance policies, title deeds or any important documents should be kept in a safe place – but not a secret place. At least one responsible person should be informed of their location. Bear in mind that a will is revoked by a subsequent marriage, therefore a new will should be made should you re-marry.
Bank accounts – joint accounts are preferable in the case of husbands and wives, otherwise an account could be “frozen” for a period of time.
Bequeathing of the body, or parts of it, to science – if you wish to do this, arrangements should be made in advance, usually by completing a form of authority available from the relevant hospital or university. Once again, it should not a be “secret” and somebody close, preferably the next of kin, should be informed in order for the recipient source to be notified at the appropriate time.
A pre-arranged funeral – It is a way of making arrangements in a calm and unemotional atmosphere and also assures you that you will have the funeral that you want. – A form is available for you to download here to assist you in your preparations. PDF (423KB)
A pre-arranged funeral not only provides all relevant information it also alleviates the anxiety that goes with decision making at such a time. unlike other funeral directors, we offer to Pre-Arrange a funeral, absolutley free.
Probate and Death Duties – needless expense and sometimes hardship to families can be relieved by proper pre-planning. A legal authority specialising in this issue should be consulted – it is a highly specialised matter today.
Pre-paid Funerals –
Foresters Funeral Bond Regular Savings Plan
Investing in the Foresters Funeral Bond through the Regular Savings Plan provides peace of mind for you and your family. People are becoming increasingly aware of the importance of planning for the future. Pre-arranging your funeral as part of your planning and investment strategy offers protection against future increased costs of funeral expenses. It can help provide your family with a sense of security, knowing that both your needs and those of your family will be looked after.
What is the Foresters Funeral Bond?
The Funeral Bond is a capital guaranteed, traditional life investment fund. The fund allows you to provide for all your reasonable future funeral expenses in advance.
Benefits of the Foresters Funeral Bond
- Capital guaranteed
- Exempt from assets and income tests, and deeming provisions
- Nil entry fee
- Flexible investment options
- Regular Savings Plan
- 14 day free look period
- No medical restrictions
Prepaying your funeral – why it makes sense
Today we plan for so many of life’s future events – holidays, special family occasions – we even plan for occurrences we wish may never happen, for example fires, sickness and accidents.
Arranging and pre-paying your funeral should also be seen as part of this plan. It can relieve an enormous amount of emotional and financial strain from your family, and offers protection against future increased costs of funeral expenses.
We all have some special wishes as to how we would like to be buried or cremated. Pre-paying your funeral gives you the opportunity to attend to these details in an unhurried manner. Your family will know that your funeral will truly reflect the way you would like to be remembered.
How does the value of my Funeral Bond increase?
Bonuses are added to your Funeral Bond when they are calculated on 30 June each year. They are based on the annual earnings less the income tax paid by the Fund.
The Regular Savings Plan – how does it work?
Through the Bond’s Regular Savings Plan, you can invest as little as $ 100, with additional minimum contributions of $25 able to be made at any time. These contributions can be made by:
- direct debit of a bank account, or
- direct debit of Centrelink benefit entitlements.
What are the fees?
There is no entry fee on your contributions. Foresters Friendly Society charges an annual
fee of 1.5% on the average balance of the fund’s gross assets.
What pensions are available?
Under current legislation, the Foresters Funeral Bond is an exempt fund for the purpose of the assets test, income test and deeming provisions specified by Centrelink and the Department of Veterans’ Affairs provided that the investment is kept solely to meet future funeral expenses.
How much can you invest?
When you assign your policy to a Funeral Director on the basis of a pre~paid funeral, you can invest any amount to cover reasonable future funeral expenses.
What is an assignment?
An assignment is where you assign your investment in the Foresters Funeral Bond to a Funeral Director and enter into a pre-paid fixed price funeral plan with that Funeral Director.
Upon your death, your investment will be paid directly to the nominated Funeral Director. There is no cost associated with assigning your investment.
How to invest in the Foresters Funeral Bond
You can invest by speaking to your preferred Funeral Director at Thompson Family Funerals on 03 5472 2202 or by calling Foresters Friendly Society on toll free 1800 645 326. Or visit their website: http://www.forestersfs.com.au/