Planning your funeral isn’t something many people want to think about, but it’s important to be prepared not only so that your wishes are carried out, but also so that your loved ones will be well taken care of. Planning ahead will give you peace of mind, especially if you have children or a large estate, and there are so many ways you can start early. You might pick out your burial plot or decide on cremation, or start making out a will or other legal documents that will help your family remain protected in the event of your death. You can choose now how involved you want to be in the preparations; here are a few ways to get started.
Consider Burial Insurance
Burial insurance is a simple way to ensure that all the costs incurred as a result of your death are taken care of. A final expense policy will not only cover funeral arrangements, but it can also help your loved ones pay off medical bills and other debts, freeing up their funds for other things. Think about how much coverage you’ll need--don’t forget to include considerations for things like long-term care and other medical costs in your future budget--and what kind of services you want to have. Look up costs associated with the funeral, memorial, and details like the headstone so you’ll have an idea of how much you’ll need.
The cost for a funeral policy will vary according to your arrangement decisions, but if you are younger than 70 years old and don’t have any major health issues, it might be right for you. If you need more than $20,000 in coverage or have a health problem that might disqualify you for a policy, you’ll want to consider another option. Keep in mind that final expense insurance covers a limited amount of costs associated with a funeral, but you won’t have to endure a medical exam to get coverage. Providers like Lincoln Heritage can be a great choice, but you’ll want to research any provider first to find the right fit.
Prepare a Will
Preparing a will can help ensure that your loved ones have everything they need after you’re gone, and it can also prevent any issues when it comes to your estate. If you want to leave a home or belongings to your family members, having a will is crucial in making sure your wishes are carried out. Make it legal by talking to an estate lawyer who can help you get the wording right and think about how your final arrangements will affect your loved ones. If you have children, an essential aspect of the will process is making decisions about their living arrangements and care in the event of your death.
Decide About Your Final Resting Place
No matter what your decision is about your funeral arrangements, you’ll need to make another important one about where your final resting place will be. Whether you decide to be buried or cremated, you’ll have peace of mind in knowing what will happen. Talk to your loved ones about your decision, so there will be no confusion, and do a little research on the benefits of each option. The costs will vary widely between them, as will the planning and need for arrangements.
Planning for your own funeral can be a unique challenge and one that requires thinking about many difficult things in advance. Talk to your family members throughout the process so they can help you along the way; having support will be incredibly important, and it will help your loved ones understand what you want.
About the Author
After her mom was diagnosed with Alzheimer’s, Lydia Chan found herself struggling to balance the responsibilities of caregiving and her own life. Nowadays, she is passionate about sharing her knowledge and experiences with caregivers and seniors. She is the co-creator of Alzheimer’s Caregiver, a website that aims to provide tips and resources to help caregivers.
Contributor since February 11th, 2020
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Remember, Long-Term Care Insurance is custom designed. Premiums can vary dramatically between companies for the same benefits. Act before you retire.
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