Funeral costs are often an unanticipated burden on surviving family members. They’re expensive. While during mourning, planning and paying for an extensive funeral is usually too stressful or emotional to handle. Most people don’t know where to turn. Their friends and family are all grieving. Someone must get the job done, though. That’s where an experienced attorney can step in. Funeral arrangements and costs should be added into an overall estate planning portfolio, which is handled by your lawyer.
There’s a common misconception surrounding living wills. People often believe they’re used for medical and financial needs. They are also an ideal method to provide instructions for your loved ones to handle funeral arrangements. You may instruct your family to use a specific account for funeral expenses or request assets be sold to pay for the funeral costs.
Furthermore, your living will detail the overall appearance of your funeral. You may choose to mention preferences, songs, or services, and even who you would like to attend. A living will genuinely cover all facets of a funeral with ease.
Paying Funeral Expenses Using Life Insurance
Whether you hold term or whole, life insurance offers a viable means of providing for funeral costs and the financial needs of your surviving family. Some insurance companies even provide plans explicitly geared towards funeral arrangements.
Anyone in reasonable health may obtain life insurance, so it’s a smart idea to set up a plan while young and then extend the terms as far as possible. There’s nothing wrong with planning ahead. You should speak with an attorney to handle all arrangements now.
If you’d like to be prepared for a funeral or need to cover costs of a recently deceased loved one, contact The Durham Firm at (214) 222-4000. We’re here for you in this troubling time!