Planning Your Funeral is Part of Estate Planning
Funerals may range widely in expense and complexity from simple, low-cost affairs to lavish, expensive gatherings with large numbers of people. If you have a strong opinion on what your funeral will look like, you can write your wishes into your estate plan and even make additional, specific arrangements to help alleviate the burden on your family members during the time immediately after you pass away.
If you wish to be cremated, you should check with your attorney before outlining specific instructions in your estate plan. State laws usually outline where ashes may and may not be scattered, so you should double check your preferred location. Additionally, the state will have some specific laws about how you request cremation, so you need to make sure you’ve gone through all the appropriate steps to make it happen.
Meeting financial obligations
As part of your funeral planning, you will also need to consider how it will be paid for. You might consider a life insurance policy paying out to an irrevocable trust, as this would ensure the funds would avoid estate taxes. You could also set up a savings account for the sole purpose of your funeral.
It’s typically recommended to avoid pre-paid funeral plans, as if you live for years after you make the payment, the amount you paid might not necessarily keep up to date with inflation. Additionally, if you move to a new location, it could be difficult to get your money back.
Planning for your own funeral can be an uncomfortable process, but it’s an important step to take if you wish to protect your loved ones and your property. To get started, call on the dedicated estate planning attorneys at the Charles Law Offices in Florida.