Quote:
Originally Posted by jojo
My mother prepaid with Baldwin Brothers for cremation here in The Villages and the service was excellent and reasonable.
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We came very close to doing this. Baldwin Brothers has an excellent reputation.
At the last minute, we asked the rep what would happen if they went out of business before we passed. She was unable to answer the question and just repeated that the family has been in business x number of years. Yes, they’re reputable and have been in business a long time, but so was Lehman Brothers.
Although we wanted to do it and have it over with, there seemed to be a risk attached we weren’t comfortable with. Part of the $ goes into a trust and one would, presumably, get that portion refunded, but the outcome would then be no arrangements made and inflation would likely eat most of the principal (in the event they went out of business). Rather than making this simple for loved ones, it could be a hassle.
I’d love to hear from someone with a prepaid funeral who has explored this scenario. Perhaps it was our rep who didn’t understand a safety net built in.