With Annuity sales down 40% this year, especially in the index annuities and seminars attendance low, the sales of Funeral Trusts are up over 247% in some areas.
Seniors are much more concern about their estate planning and having everything in order than investing money in a poor stock market.
Establishing a Living Trust, Power of Attorneys, and keeping their estates out of probate court seems to be the key in estate planning. Other issues pertain to protecting assets if they enter a nursing home.
The trend today has seen a HUGE shift in Estate Planning, most attorneys are now telling their clients to do funeral planning in advance because of the New Medicaid Laws. Since over 93% of all senior citizens don't have nursing home insurance, preplanning their funerals is very important.
Since most people dread thinking about going to the funeral home, there is a NEW METHOD of Funeral planning.
As your attorney will share with you...it is not necessary to go pick out caskets, vaults and all that stuff. NONE OF US WANT TO DO THAT NOW....
The important issue is to DO YOUR FUNDING of the FUNERAL TRUST without going to the funeral home.
Several companies today allow you to set aside funds into a legal irrevocable funeral trust designated to pay the funeral home that actually provides the services at your death. ANYWAYS...do you want to prepay a funeral home with your money now or keep it in trust.
For more info - www.funeraltrusts.com