Investing in stable, guaranteed, and tax-saving investment products is always a formula for financial security in the future. Giving your family the peace of mind that comes from making a solid financial plan is equally as important. These are the benefits of investing in pre-paid cemetery services.
Pre-paying for cemetery services helps to ensure your loved ones don’t have to worry about these expenses during an already difficult time. The money you set aside is shielded from market volatility and this program may even simplify your estate plan. In Ontario, pre-paying for your cemetery needs and signing a pre-paid contract with a licensed cemetery establishment, guarantees the price of your services.
The cost remains fixed at the amount you agreed to when you signed your contract. When entering a pre-paid agreement, your pre-payment earns interest, which in turn offsets the rate of inflation. Cemetery establishments in Ontario are required, by law, to deposit any pre-paid funds received into trust. The funding is very closely regulated for the protection and safety of your investment. The funds may only be deposited into an interest producing account, used to purchase a Guaranteed Investment Certificate (GIC), or purchase an Insurance Policy or Annuity.
If you have questions about pre-paying for cemetery services at Woodlawn Memorial Park in Guelph, don’t hesitate to contact our team.