When you pre-arrange your funeral, all the necessary information is recorded and put on file until such time as it is needed. A copy of the recorded information is also given to families.
Pre-paying for a funeral has become a very important part of retirement planning. By pre-planning your funeral you provide your family with a sense of security knowing your wishes have been looked after. In addition all primary costs are capped and covered.
What is a pre-paid funeral?
When you pre-pay your funeral, the monies are held in trust using a KeyInvest Funeral Bond and are guaranteed. At the time of death, the Bet-Olam Jewish Funerals account is sent to the administrator who will pay this account.
In addition you may also purchase a grave in the Jewish Memorial Gardens. This may be done either with Springvale Botanical Cemetery or through Bet-Olam. If you choose to purchase a plot directly with Springvale Botanical Gardens, you should arrange an appointment with the cemetery by calling on 9546-9377. Please ensure you say that you wish to purchase a grave in Jewish Memorial Gardens.
At the time of death, one telephone call enables Bet-Olam Jewish Funerals to begin organising the entire funeral. As all financial arrangements have already been pre-paid, your family is relieved of any additional emotional or organisational strains.
Why pre-pay my funeral?
Families choose to pre-pay their funerals with Bet-Olam Jewish Funerals for a variety of reasons. Some important ones are:
- Fixed price
- Asset test exemption
- For your family’s sake
- Guarantees your wishes are carried out.
A key advantage of a pre-paid funeral is that you specify the services you require and pay at today’s prices. You are protected against inflation and do not pay any more for these services even if prices rise. Additional costs only apply if you or your family wishes to change or add to your arrangements (i.e. newspaper notices).
Asset test exemption
Your pre-paid funeral may be exempt under some Assets and Income Tests, particularly for pensioners. Speak with your financial adviser to determine whether you can maximise your other entitlements by purchasing a pre-paid funeral plan.
For your family’s sake
By pre arranging or pre-paying your funeral this will ensure that your wishes are respected, and relieves your family of the emotional and financial responsibility of organising your funeral.
Deciding your funeral options in a relaxed environment, allows you to discuss your wishes with your family and to pre establish these with Bet‑Olam.
In Victoria, pre-paid funerals are protected by government legislation under the Funerals (Pre-paid Money) Act 1993. The Act restricts the way pre-paid funeral monies can be invested so that your money is protected, even if a funeral director ceases to operate.
How do others know I’ve pre-paid my funeral?
Please be sure to advise your family and give them copies of the Bet-Olam documentation. Let them know where documents are filed, including your Personal Planning Guide and your Will. If family members are not aware of your pre-paid arrangements, they could inadvertently end up paying for the same arrangements.
It is also wise to give a copy of your pre-paid or pre-planned documents to your solicitor and/or executor.
Planned giving, preserving our heritage, ensuring our future
I found a fruitful world because my
ancestors planted it for me.
So, too, will I plant for my children.
Babylonian Talmud – Ta’anit 23a
Should you wish to leave a bequest to Temple Beth Israel, Etz Chayim Progressive Synagogue, Leo Baeck Centre for Progressive Judaism, Kedem or Bet-Olam in your Will, you will give the gift of Jewish worship, learning and community in the years to come. Please contact Rhonda Nirens at Bet-Olam Jewish Funerals – 9883-6237 – for sample wording that might be used to include our community in Wills and Bequests.
Alternatively, the community stands ready to provide a lawyer to facilitate the writing of your Will/Bequest.