Maybe you do not care what happens to you when you die. Yet, most people have at least some preferences. The problem is that many of the loved ones they leave behind also have strong preferences for how to handle things. Using your estate plan to clarify your funeral wishes will increase the chance you get the sort you like. It will reduce the chance you get one that someone else wants for you, but you would hate were you still around to see it.
Here are some steps you can take to enable that:
Create a document to lay out your wishes
Your family may be anxious about what to do in the immediate aftermath of your death. Letting someone know where to find a document detailing what you would like to happen – for example, cremation vs. burial – is a good idea. You can include a copy with your will, but having one separate and easily accessible can speed things up.
Organize payment for the funeral
The cost of a funeral can soon mount up. You might not want to burden your family with that cost. There are a few options you could use to set money aside for it. They include:
- Life insurance: Some policies come with an amount to cover funeral costs
- A payable-on-death account: You can name someone to take care of things and set up an account to pass them the money for the funeral when you die. You can’t be sure they will spend the money on the funeral rather than on themselves, but hopefully, you have someone you can trust.
You might have heard about prepaid funeral plans, where you pay upfront to a company that organizes funerals. Note that the Financial Conduct Authority (FCA) recommends you avoid these. Getting legal help to learn more now, allows you to make things smoother for later.
