How Much Does a Funeral Cost? A Complete Cost Breakdown
Planning a loved one’s funeral is never easy. Not only is this a difficult emotional time in your life, but the financial implication can also be steep.
Plan out the funeral in great detail so that you can control the price down the penny and effectively shop around. So what should you know about the average funeral cost and the planning that inevitably comes into play?
Read on to learn more about typical funeral costs and how they come into play as you plan to honor your loved one.
Get an Idea of Funeral Costs
First off you need to consider what people pay on average for a funeral.
In total, people generally pay between about $4,000 and more than $6,000 in funeral costs. You will need to consider the details that come with the territory in order to know how it will affect you personally.
Think about these facts when planning a funeral:
1. Consider Casket or Cremation
The first thing you need to know is whether or not you will bury your loved one or plan out a cremation. On average, you might pay about $2,000 or more for a casket. Cremation is far cheaper and is also eco-friendly.
You won’t have to worry about maintaining a plot for the next several years and the cremation process is quick and easy.
2. Factor in Life Insurance or Estate Planning
Think about the parameters of your loved one’s funeral and whether or not they have the provisions to pay for it. If your loved one has a last will and testament, many of these matters will be handled under this agreement.
Many people purchase life insurance plans that will also account for their burial and other funeral costs. This is why estate planning is so critical, as is understanding which family member or professional has been named as the executor of the estate.
3. Shop Around for Prices Among Different Funeral Homes
Finally, do a little bit of leg work on your own to see how much you should be paying for a funeral.
Funeral homes and directors are obligated by law to disclose prices upfront. The reason for this law is that grieving families are prone to emotional purchases. Companies have to disclose information upfront so that there is no confusion, and so that the family can streamline the process of planning the funeral.
Start Planning Out the Funeral Today
Factoring in funeral costs will help you stick to a budget while also laying a loved one to rest. No matter what, this is a difficult period in your life. It becomes a lot easier when you’re aware of how much you should be paying, and have the information that’ll help you shop around.
Take the time to figure out which funeral home you’d like to do business with. When you understand the strategies above, your process will be much easier.
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