Executor Funeral Plan - What is it?

The Executor Funeral plan is a pre-paid funeral plan designed to serve the needs of the community today and well into the future. The plan is an initiative of Alex Gow Funerals and allows you to arrange your funeral ensuring all of your personal wishes are carried out. The plan also helps you cover all or some of the funeral expenses on a contribution-towards-cost basis, either by making an initial lump sum payment or paying by instalments, to help minimise future funeral expenditure. Choosing a suitable funeral plan for your individual needs is as important as choosing the executor of your will. Combine your Executor Funeral Plan with an experienced funeral director like Alex Gow Funerals and you have a partnership that is committed to providing the best possible funeral care.

How will the plan benefit my family?

When you pass away, the information you record in your Executor Funeral Plan will benefit your family. Not only will they know exactly what your wishes are, but they will draw great comfort in the knowledge that they are in a position to carry out those wishes for you. Also, by pre-planning for your future funeral expenses you will enjoy peace of mind knowing that your family will not be burdened by a sometimes unexpected expense at a most difficult time.

How it works

Pre-arrangement involves sitting down with one of Alex Gow’s experienced funeral directors and recording all of your personal wishes for your funeral.

Some of the things you may wish to consider when pre-arranging a funeral includes:

. location of the funeral service

. your choice of cemetery or crematorium

. particular religious or cultural customs to be followed

. your preferred type and style of coffin or casket

. the involvement of a specific organisation or club in your funeral service

. personal touches you would like to add such as biblical readings, music, a special poem and flowers.

The financial arrangements will also be made at this time. You will be asked to decide the type of investment in which you would like to place your money.

The Investment

Your investment can be lodged one of two ways ... either in a funeral bond or in a funeral benefit trust fund. If placed in a Funeral Bond, it will be secured by a capital guaranteed financial institution. Your investment can be paid in a lump sum, at the time of pre-arranging, or electronically deducted from your bank account in monthly installments. It is important to note that once money is invested in a funeral bond it cannot be withdrawn until death occurs.

The other alternative is to place your investment in Alex Gow’s Funeral Benefit Business Trust Fund. As with a funeral bond, your money is also capital guaranteed, but payment installments and times can be varied to suit your needs.

Pensioner entitlements

Your pension entitlements are protected. The money invested through your Executor Funeral Plan is not subject to the Australian Government's income and assets tests, provided you do not invest a larger amount than allowed under the means test exemption threshold for funeral bonds. Our consultant can help you with the current exemption threshold amount.

Can my plan be changed

The unique flexibility of the Executor Funeral Plan gives you a wide choice of options so you can tailor your plan to suit your own individual requirements. It also allows you to alter any details of the funeral service at anytime in the future. The fact we are all human and can sometimes make mistakes is taken into account. This is why the Executor Funeral Plan does not impose penalties that mean you could lose all your investment if, for some reason, your Executor Plan funeral is not carried out by Alex Gow Funerals.

Similarly, there are no penalties imposed if you should move interstate or to an area where Alex Gow Funerals cannot carry out your Executor Plan funeral.

What do I do now?

We suggest you read the rest of this pre-planning guide and complete the sections of the “Funeral Pre-Planning Book” you deem necessary. Then contact us to arrange a time to meet with one of our trained Executor Funeral Plan consultants, either at our office or in the privacy of your home, so we may answer any questions you have and assist you with the final details.

Please Phone (07) 3852 1501 during business hours, or complete the order form here to obtain your FREE "Guide To Thoughtful Funeral Pre-Planning Book".

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