Prepayment Plans

You can make all of the selections about your final arrangements and prepay for the funeral and burial or cremation. Frequently, making your arrangements with a prepayment plan can be cheaper than waiting until your death.

If you decide to prepay for your funeral expenses, you will be able to make all of the decisions and not leave your family guessing or wondering about what you wanted. You may be surprised to find how many choices there are about funeral arrangements. Your family won't know if you wanted a $2,000 funeral or a $20,000 funeral unless you tell them.

You can also select a funeral home and provide that company all the details of your wishes without making any payment. If that firm goes out of business, you will still have a copy of the instructions you had given to the funeral home. If you pay for your arrangements in advance, however, you need to put the paperwork confirming the payment in a place where your family can find it.

The average funeral can range in cost from $3,000 to $12,000. Families often feel guilty wondering how much their loved one wanted them to spend. Help out. Give your family some direction.

Although it may seem more expensive to pay at the time of your death, you will know that your funds won't be lost to a company that is bankrupt or has closed. If you don't want to pay for your funeral arrangements before you are gone, you should at least make sure that you have left clear instructions about what you want. The more specific you can be, the better.

Your instructions are not typically included in your will or trust. Therefore, your instructions should be handwritten or typed and left with your other important documents. If you are keeping a notebook as an organizational system, that would be the perfect place to store your instructions.

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