Pre-Planning Funeral Services in Kansas City, MO & KS

Pre-planning means documenting your wishes and making decisions about your funeral or cremation in advance, but not necessarily paying for them. Pre-paying means funding those arrangements at today's prices, typically through a trust or preneed insurance policy. You can pre-plan without pre-paying.

For many people, yes. Pre-paying locks in current prices, removes a financial burden from your family, and can help with Medicaid spend-down planning. However, make sure you understand the terms, including what happens if you move, change your mind, or the funeral home goes out of business. Missouri and Kansas laws require pre-paid funds to be placed in protected accounts.

There is no wrong age to pre-plan. Many financial advisors recommend starting in your 50s or 60s, but younger adults with families can also benefit. The earlier you plan, the more you save if you pre-pay, since funeral costs rise every year. Even simply documenting your wishes is valuable at any age.

Both Missouri and Kansas allow transfers of pre-paid funeral plans, though the specific terms depend on your contract and the funding mechanism used. Some plans are fully transferable to any provider; others may have restrictions or fees. Always read the transfer and cancellation clauses carefully before signing.

Missouri and Kansas require pre-paid funeral funds to be held in trust or in a preneed insurance policy, not in the funeral home's operating accounts. If a funeral home closes, your funds are protected and can be transferred to another provider. The state regulatory board can assist with transfers in these situations.

The national average funeral cost has been rising 4 to 5 percent annually. Pre-paying at today's prices can save thousands of dollars over a 10 to 20 year period. Even without pre-paying, pre-planning helps your family avoid costly impulse decisions made under emotional stress, which can add $2,000 to $4,000 to the total cost.

Irrevocable pre-paid funeral plans are generally exempt from Medicaid asset calculations in both Missouri and Kansas. This means you can set aside funds for your funeral without them counting against Medicaid eligibility limits. Consult with an elder law attorney for specific guidance on your situation.

In addition to your funeral pre-plan, consider preparing or updating your will, advance healthcare directive (living will), power of attorney, a list of important contacts, and information about financial accounts and insurance policies. Keep all these documents together and inform your family of their location.