Planning for Funeral Expenses

Any consideration of funeral planning will necessarily involve cost factors and methods of payment.  Residents of Fort Wayne, Indiana, and other states, may control costs by directing in advance specific burial choices.  For example, cremation is often a less expensive burial option.  Likewise, forgoing, or minimizing the time allotted to a wake or memorial service within a funeral home may reduce costs.  You should consider documenting these choices with the assistance of an estate planning attorney.

Financing a funeral can be accomplished in whole or in part through a life insurance policy. You may instruct your loved ones to utilize the proceeds of a life insurance policy payable directly to the family. Alternatively, some insurance companies offer plans specifically designed to cover funeral expenses.

Another option for financing a funeral is to pay for the costs before you die. In most cases, it is possible to pay for caskets, urns, burial sites and monuments. In some cases, you may pay the funeral home directly for these and other pre-arranged funeral expenses.

For those willing or desiring to donate their remains for educational or research purposes, this is another option for reducing or avoiding most funeral expenses. In most of these cases, the medical school or university will return the remains and pay for a memorial service and follow your burial instructions.

For most families, Social Security benefits include a one-time lump sum payment at the time of death to aid with funeral expenses. Although this benefit is not large, the payment may help the family with minimal expenses, including cost of flowers and gratuities.

Boeglin, Gerardot and Grubbs is available to speak with you about funeral plans and arrangement options, as well as any other estate planning issues you may have. Please contact us at 260-436-3883.