When talking with your family about your estate plan, it is important to cover as many aspects as possible — including your funeral arrangements. Doing so gives you a chance to talk over your preferences and get your family’s input. Pre-planning can make matters much easier for your family after you are gone.
One way to avoid a post-death search for funeral funds is to plan on saving up for them today. Knowing what goes into the funeral process may help you understand the costs and enable you to make better decisions.
The first step in any death call for a funeral home is the pickup. This might mean a pickup in your home, a long-term nursing facility or a hospital. Other transportation needs might be between funeral homes or from the service to the cemetery. Transportation costs may run over $1,000
While many states do not require embalming, funeral homes often do require it if you wish for an open-casket visitation. Other preparation may involve reconstruction, dressing and casketing for the service. Preparation costs may run over $1,000.
Cremation or burial
The choice of cremation or burial is often a personal or financial one. As the National Funeral Directors Association details, the median cost of a funeral depends on this choice and ranges between $7,463 and $8,093 in the region including Pennsylvania.
After you talk over these costs with your family, your next step is deciding whether or not you should pre-arrange and pre-pay for your funeral. Pre-payment can be done in several ways – by pre-paying the funeral home, by setting up an irrevocable burial trust at a bank or by naming a funeral home as the beneficiary and owner of a life insurance policy. An elder law attorney can help you decide which option may be best for you and your family.