We’ve all seen or heard the ads talking about the high costs of final expenses. It is true. Funerals can be expensive, especially if you are unprepared.
Let’s discuss the common aspects of a funeral and how quickly they can add up. We’ll look at options for paying for final expenses and explore why pre-planning can be so valuable.
If you have concerns about final expenses, here are some financial and budgeting tips:
Basics You Should Be Aware Of
While funerals and final expenses can, in fact, be costly, you have choices. Prices can vary widely, and you do have control over what is spent. Services can range from simple, direct cremations to extravagant ceremonies.
The first step in budgeting is to decide what your preferred path is. Do you want the least expensive service possible? An extravagant celebration of life? Perhaps you prefer something in between.
Common Expenses to Consider
Services
Services can range from embalming to funeral home set-up and viewings. There may be expenses for grooming the departed for open casket ceremonies.
Casket
Traditional burials will frequently include a casket which can range widely in cost.
Burial Plot
If you are selecting a traditional burial or are burying cremains in a cemetery there will be the expense of a burial plot, and likely fees for the opening and closing of the grave.
Cement Vault
Caskets are placed in cement vaults to help maintain the integrity of the casket.
Headstone
Headstones or grave markers can range from simple to elaborate markers engraved with computer graphics.
Other Expenses
Other expenses related to final expenses can include an organist for a church service, flowers, transportation, pastor’s fees, catering expenses for a post-service gathering, and more.
Sources For Funding
People can generate final expenses from a variety of sources.
Savings Accounts
Some will start saving accounts to set aside money for their final expenses based on their desires and budget.
Life Insurance
Another common way funerals are funded is through life insurance. If an individual doesn’t have a personal life insurance policy, they may have coverage from an employer or fraternal group.
Financial Assistance
There may be government assistance available for veterans. Social Security offers a small stipend. There may also be charitable and religious organizations that may offer assistance.
Crowdfunding
Crowdfunding may be a source when funding is tight. This allows people to digitally contribute to funeral expenses.
Pre-planning and Pre-payments
Pre-planning and paying in advance for your final expenses is a responsible way to make sure final plans and expenses are covered to your satisfaction.
Benefits of Pre-Planning
There are so many benefits to pre-planning that they can be hard to ignore.
Pre-planning allows you to make choices you are comfortable with. It can be done with practicality and clarity. It can reduce stress and make life easier for those around you.
Need Help? Reach Out to Us
At Fares J. Radel Funeral Homes and Crematory, we’ve been helping Greater Cincinnati and Northern Kentucky families through some of life’s most difficult times.
If you are in immediate need, even if finances are a challenge, we may be able to help with financing. Reach out to us to discuss your situation.
We are also here to start pre-planning now. Contact us to get started today.
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