Estate Planning Pitfall – You’re using a prepaid funeral plan

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Abstract: To relieve their families of the burden of planning a funeral, many people plan their own and pay for them in advance. Unfortunately, prepaid funeral plans are fraught with potential traps. Some plans end up costing more than the benefits they pay out. And there may be a risk of losing the investment if the funeral provider goes out of business or one’s plans change. Some states offer protection, but many do not. This article offers several questions that a potential purchaser should ask.