What If You Can’t Afford a Funeral?

Posted by on Jan 27, 2014 in Pre-Paid Funeral | Comments Off on What If You Can’t Afford a Funeral?

What If You Can’t Afford a Funeral?
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An article, from the Mail on Sunday’s ‘This is Money’ section, questions how you can afford to cremate a loved one if you don’t have the money available. They offer advice about the current costs of burying or cremating someone, how the funds can be relocated from the deceased’s estate and what happens if you have no money at all.

A link to the article can be found on this webpage. They’re part of the Daily Mail newspapers in the UK.

Although the cost of funerals is rapidly increasing by what appears to be more than the rate of inflation each year, particularly as councils have found that this is a way to increase their revenue without increasing local council tax, where you don’t plan for the inevitable cost, the expense can be quite a shock to the system of those you leave behind.

For those who cannot easily find £2,000-£6,000 from their own funds, or the estate of the deceased, you could consider a Pre-Paid Funeral Plan and pay just under £14 a week (around £60 a month ) over five years, to set the funeral director’s costs so that you never have to pay any more whatever the rate of inflation. A high-quality Pre-Paid Funeral Plan will cover all of the variable costs which are associated to a cremation, such as the doctor’s fee, the clergy or humanist fee and the local authority’s charge for the cremation.

With an annual funeral costing around £3,500 and present, the total charge may be far higher when you add the cost of flowers, newspaper advertisements, a printed order of service and the catering for a wake afterwards. The Halifax issued figures recently that claims that the average person in the UK has £7,780 in savings.

Banks and funeral directors will do all that they can to ensure that funds are available at the right time and to reduce the burden of finance at a time when your life may be in turmoil already. Nevertheless, funeral directors are running a business and expect to be paid and banks can only release money if they are sure there is sufficient within the deceased’s estate to be able to clear debts.

A last Testament and will is a good legal document that will help an executor of a will to collect funds from bank accounts and pay debts, but perhaps a Pre-Paid Funeral Plan is best likely to offer more people peace of mind;

  • the bank won’t have to release any funds;
  • the funeral director is guaranteed to get paid,
  • the deceased has taken the burden of organising the funeral away from their family and
  • the people left behind know that the funeral is both arranged and paid for.

Unfortunately, because many people are using almost all of their funds to pay for their last years in a nursing home, many people are left without any money to be able to afford a funeral plan even though the local authority cannot take all of a person’s money to pay for the home. After all, it is perhaps better that a person spends their money while they are alive, rather than worrying whether there is enough left to pay for a funeral.

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