I'm a beneficiary on my dad's cd n I get to have his cd after he passes. I am also his power of attorney. My dad got very ill so I went to bank to get some money out from his cd to buy funeral insurance but the bank said I can not withdrawal any money from his cd till he passes but I am his power of attorney. I am confused .
I am trying to figure out how paying in advance for a $10,000 funeral will make it cost less. Have you located a policy that would accept your dad, knowing that it would have to pay out more than he is paying in?
Would a bank officer come to visit your dad, perhaps for a fee? Would the funeral home make some arrangements to collect their fees as soon as you inherit the CD?
My mother died last month. Our cost for her cremation, 7 small urns for ashes, an obituary in the paper, and a lovely celebration of her life with flowers and printed programs was $4,500. (We are in a major metro area in Minnesota.) Perhaps you could be looking into a less expensive way to handle this.
Is the CD the only source of funds you could use to pre-pay funeral expenses?