A day that celebrates all the things you treasure the most
This is the simplest way to make sure that you have the day that you want – whether it’s for yourself or a loved one.
The benefits are numerous; being able to take the time to work out what’s really important to the people who matter the most, difficult conversations can be had with friends and family early, it creates time for consideration, reflection and discussions, it allows the right people to get involved in the process and most importantly removes the sense of urgency, stress and pressure that is usually associated with funeral planning.
You get to choose and plan the whole ceremony in its entirety - from the collection of the body, capturing the wishes regarding burial or cremation, the type of service, where ashes are placed or the place of burial, caskets, headstones, flowers, commemorations, stories, music, the celebration, and ensures that you get the right care and attention that is right for you.
The most important advantages of prepaying your funeral costs are that it relieves your family of the financial burden and provides everyone with the peace of mind that everything is taken care of as you would like it to be. Funeral expenses can range anywhere from $3,000 to $10,000 and that’s a huge consideration when mapping out your future.
Once you have pre-planned your funeral, you can then consider the option of prepaying it and knowing that all the costs have been covered – leaving your family and friends with one less thing to worry about.
The pre-payment plan
Firstly, it’s critical to understand that the funds are held in a trust account and can be used for no other purpose. Twentymans holds and administers the funds separately from all other accounts and they are held in an account with one of the four main trading banks.
- Your funeral is prearranged today with the assistance and guidance of one of our funeral directors and an estimate can be arranged.
- These details are totally confidential.
- We will deposit your money into our bereavement prepayment investment fund held at our trading bank.
- Once your funeral is completed, the funds are transferred to cover the funeral costs directly to Twentymans Funeral Services upon the estate signing permission for the account to be closed.
- Interest (less tax) is added to your initial payment on a yearly basis, helping to keep your prepayment abreast with inflation.
- After your funeral expenses are paid, any surplus funds (including any interest earned) are returned to the estate. If there is a deficit, your estate will be responsible for those costs.
Frequently Asked Questions
Is my money safe?
This is a legal and binding contract and the funds are lodged with one of the major four trading banks, in an interest bearing deposit account. These funds are held separately and independently of all other business/trading accounts .
Is there any tax?
There is no tax issue for you.
Are there any administration costs or hidden charges?
No, there are no hidden commissions or administration charges.
What if the funeral costs are less than the amount in the prepaid fund?
Any excess after funeral expenses are paid, is paid back to your estate.
What if the funeral costs more than my fund?
If the cost of the funeral exceeds the amount of the prepaid funeral plus accumulated interest, then the estate, or next of kin, will be responsible for any deficit in funeral expenses payable to us.
Can I withdraw from the contract?
No, but we will of course consider unique circumstances such as relocating outside New Zealand.
Can I pre-arrange my funeral, without having to pay now?
Yes, we have an alternative arrangement where you can just pre-plan your funeral service and have your details held on file. Payment arrangements would then be made with your executor or next of kin at the time of your death. However you can convert from just pre-planned to pre-planned and prepaid at any time.