How to pre-plan and prepay for your funeral in Victoria

If you're researching funeral pre planning, you've probably come across prepaid funeral plans, funeral bonds, and funeral insurance, all promising to lock in today's price. 

At SMCT, we don't offer any of those products. What we offer is buying your cemetery plot or memorial directly, at today's price, government protected because we're a public cemetery trust rather than a private fund. That's the real distinction worth understanding before you choose either path.

• We offer a direct cemetery plot purchase at today's price, because we're a public trust, not a prepaid funeral plan, bond, or insurance policy.
• Your price locks in the moment you pay the deposit, but a fund-based plan's payout can fall short of what a funeral costs later.
• You can pay it off over time, change your mind if circumstances shift, and start recording your wishes in MyLifebook before you've bought anything at all.

Funeral pre planning means deciding your funeral or cemetery wishes now, so your family doesn't have to guess later. Here's how we do it, and why:

• What we offer: You buy a specific plot, memorial, or cremation space today, at today's price.
• What we don't offer: Prepaid funeral plans, funeral bonds, or funeral insurance, since those pay into a fund rather than buying something real.
• Why we do this: Because we're a public trust serving the community since 2002, not a private company.

The other side of the market covers a few different products, a prepaid arrangement through a funeral director, a funeral bond, or funeral insurance. Here's how the two broad approaches compare in practice.

The cemetery plot option above is what buying directly with us involves. Pre-paid arrangements, funeral bonds, and funeral insurance all sit on the other side, and our planning ahead page breaks down how those three differ from each other, including an example. Buy a plot directly, and there's no fund to underperform, you own it outright the moment it's purchased.

Does pre-paying lock in the price?

Yes. Once you've paid the deposit on a plot or memorial, the price is locked in at that day's rate, regardless of when it's used. That's different to a fund-based plan, where the payout is fixed but funeral costs can rise past it.

If you're ready to start, here's how the process works.

1. Decide between burial, cremation, or a memorial space, and which of our cemeteries suits you.
2. Compare pricing across locations on our location fees page.
3. Book an appointmentExternal site with our team to talk through your options.
4. Pay a deposit to lock in today's price for your plot or memorial.
5. Record your wishes in MyLifebook, so your family knows what you've decided.

What if I'd rather pay it off over time?

Interest-free payment terms may be available depending on your plot or memorial, so you can spread the cost over 12 months rather than paying it all at once.

Plans change, and it's worth knowing your options if yours do. If you cancel, we refund the plot at its current market value at the time of cancellation, not the original amount you paid, which reflects any price changes since your purchase.

For questions specific to your situation, like moving interstate or changing your mind about a memorial style, speak with our team directly. Every circumstance is different, and we can talk through your options properly.

If someone else needs to make decisions on your behalf, it helps to know who's legally recognised to act. Our guide to life planning for yourself or a loved one covers next of kin rules and the right of interment in more detail.

Does pre-paying affect my pension?

Our planning ahead guidance confirms that cemetery plots purchased in advance aren't counted as an asset for pension purposes, so pre-planning doesn't affect your payments. Because this depends on your broader financial circumstances, it's worth confirming your specific situation with Centrelink or a financial adviser before you rely on it.

If you're ready to lock in a plot or memorial, book an appointmentExternal site with our team to compare pricing across our cemeteries. If you're not ready for funeral pre planning just yet, start by recording your wishes in MyLifebook, so your family has clarity even before you've made a purchase.