Funeral Planning

Maidenover

My husband and I are trying to work out the best option for putting aside some money to cover the costs of our funerals. We have the money to do this but want to make the money available to our family in the event we either die together (say in an accident) or that the remaining partner dies. We are worried our children won't have the cash spare to pay for the funeral/s immediately. I was thinking of setting up joint building society accounts with my son so that he could access the cash straight away but just wondered if there were any other options. I've seen people really struggle trying to pay for their parents funeral as probate often takes months.

JGB1955

Funeral costs can be paid out of the deceased's bank account on sight of a bill from the funeral director. No need to wait for probate.

[Deleted User]

I'm a fan of pre-paid plans, where it's both paid in advance, and also the arrangements decided.

I worked in the industry for a few years, but also arranged a family funeral last year. They had a plan and it makes it so much easier, as it takes away any difficult decision making.

Robin9

I echo zx81 - a prepaid plan makes you think what you want. It does make those difficult decisions easier at a difficult time - even the basic burial or cremation question. Make sure all your family know what you want.

Keep_pedalling

While you are thinking bout this also consider what impact one or both of you being incapacitated through accident or illness. This is a far more difficult thing for families to deal with than coming up with the funds for a funeral, so if not already done you should look at putting lasting powers of attorney in place.

As far as i am concerned LPAs are nearly as important as having a will/

Maidenover

Thanks for all your replies - thats really helpful and given me more of an idea on how to proceed.