It’s your money and you should be able to do with it as you like, after all you’ve worked hard to get to where you are now. Most lawyers would advise that pre paying for your funeral makes good financial sense, especially for anyone thinking of moving into a retirement or rest home.
This is simply because you can put up to $10k aside in a Funeral Trust plan and not be asset tested on any of it! Now that’s clever thinking, your money works even harder for you and your loved ones in the future.
Of course that’s not all. Pre-planning and paying ensures things are done the way you want. Who wants to leave behind a messy legacy of who pays for what?