Estate Planning: Saving Money on Funerals

An important part of the estate planning process involves making funeral arrangements. Although this is not a subject that anyone wants to talk or think about, it is a necessary part of life. If you want to be able to save money on a funeral, here are a few things to keep in mind.

Consider Priorities

A funeral can be very expensive if you allow it to be. It is not uncommon for some people to pay $15,000 or $20,000 for a standard funeral ceremony. Although some people want to have an elaborate memorial, others do not want to place an emphasis on the ceremony. You need to decide whether it is more important for you to leave assets to your beneficiaries or whether you want an elaborate funeral. Most people would choose to save money on the funeral and provide a bigger inheritance to their beneficiaries. Decide what you want to do with your funeral in advance.

Planning

When working on your estate planning process, you need to spend some time planning out your funeral. Usually, those that pay the most for funerals are those that were unprepared for them. They have to make decisions when they are distraught about the death of a loved one. When that happens, they are usually not in the right frame of mind and end up spending more money than they would have liked to. By spending some time looking over the funeral arrangements before you need them, you will be able to save a substantial amount of money overall.

Discount Caskets

One of the biggest expenses with a regular funeral is the cost of the casket. In most cases, you will want to avoid purchasing a casket directly from the funeral home. Most funeral homes markup their caskets significantly because they know that many people will not shop around. If you have time to do so, you should look at some of the online discount casket sellers. With many of these online retailers, you will be able to purchase a casket for a fraction of the price of what you would be able to with a funeral home. The retailer will then be able to ship the casket directly to the funeral home for you as well.

Protective Sealer

Many funeral homes will try to get you to pay for a protective sealer on the casket. They claim that it is important to get a casket that can be sealed up properly to protect the body once it is buried. By most accounts, this is an unnecessary expense. You do not need to seal up the casket for any particular reason. Therefore, you do not need to spend extra money on this added feature.

Avoid Embalming

Not everyone has to be embalmed when they die. Whether you can avoid being embalmed will depend on which state you live in. By avoiding getting embalmed, you will be able to save a significant amount of money on the funeral process.

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