Who Is Legally Responsible For Your Funeral?

Who Is Legally Responsible For Your Funeral?

Who Is Legally Responsible For Your Funeral?

 

Death is part of life. We will all die eventually and the more we procrastinate over our final plans the more repercussions our families will face. With the costs of funerals rising rapidly and the average now around $10,000, if you do not have the plans in place, not just for the funeral but also the financial aspect of the costs of your funeral, rest assured, someone will pay.

 

Who Pays The Funeral Costs?

 

  • Your Estate: The first step is that the executors of the will pay the funeral expenses. They are a priority obligation and must be paid before all other debts.

 

  • The Funeral Contract: If there is no money in the estate, the funeral director looks to the person who signed the contract on the day the services were ordered. In other words, the family member who signed on the dotted line.

 

  • Pension Or Death Benefits: Did you receive death benefits through your employer? Keep in mind that Social Security will pay out $225 towards your funeral which will at most cover the flowers.

 

  • Your Burial Insurance: The best option for paying for your funeral is burial insurance. Burial insurance is designed to pre plan your funeral and will provide the funds for your funeral within 48 hours.

 

If there is no money, your next of kin has the option of signing a release form at the coroner's office. Once your family has signed it, the body is released to the coroner to handle the remains.

 

Consider The Consequences Of Not Having A Plan

 

It is very easy to state you do not care what happens once you are deceased, but it is not realistic. Someone must take responsibility for your remains. Is it really fair for your loved ones to have to go through the financial issues in addition to mourning your loss? Taking a realistic look at what you would like and planning ahead so that everything is taken care of with a simple burial insurance plan with a low monthly payment can be the best gift you can leave your family.

 

What Is Burial Insurance?

 

Burial insurance is a type of whole life insurance that is designed to cover your funeral or cremation expenses when you die. This insurance ranges from $5,000 to $50,000 depending.

 on your budget and the premium you wish to pay. It is usually offered in a form of a term policy. The payments are monthly and upon your demise the insurance company usually releases the money to your executor or funeral home within 48 hours.

 

Getting Your Affairs In Order

 

As beneficial as burial insurance to cover your funeral expenses is, it will not help if your family does not know the policy exists. If you have any insurance policies, death benefits from employers, or savings, it is important you sit down with your family and discuss your end of life plans with them. Gather your paperwork and put it somewhere safe, preferably in a fireproof safe. The best way to ensure that everyone and everything is taken care of is to draw up a will. A simple will does not require an attorney. Name someone as power of attorney and make sure that person has a copy of your will, insurance paperwork and your last wishes.

 

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