Pre-paid funerals
Funerals can be paid for in advance. One advantage is that relatives do not have to worry about the costs and whether there will be enough money available. Prepaid funerals up to $10,000 are excluded from asset testing when considering Government subsidies for long-term residential care of the elderly.
We offer the Funeral-Link Prepaid Funeral Plan where the money is paid into the trust account under the participants sole name. Interest is paid monthly and accrues under the participants sole name. Any difference between the cost of the funeral and the sum invested, plus interest, is refunded to the Estate. A one off set up fee and annual administration fees are charged upon closure of the account.
Statements are sent out annually and full accounting records are kept by the Company and by Westpac in relation to the sum received; also an annual audit and disclosure to the Funeral Directors Association of NZ.
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