Having set up Lasting Powers of Attorney to make sure you are looked after for the rest of your life and having made a Will to ensure that the right people benefit from your estate, your thoughts might now turn to pre-planning your funeral.
Some people simply can’t bear the thought and won’t do it, but there can be some benefits - both financially and emotionally - to ticking that job off the list.
We all know that very few people shop around when arranging a funeral for a loved one. They may not even ask the price before signing on the dotted line as they feel that it is disrespectful to think about money when arranging such an important event. What other purchase would you make without asking the cost though?
By pre-planning your funeral, you can ensure that you only pay the amount you feel is appropriate and you can ensure that you get the funeral that you want.
By pre-paying you can protect yourself against inflation, at least for the funeral directors’ fees. If you pay £3,000 for your funeral today but the cost at the time of your death is £5,000 provided you’ve got the right plan your family won’t be asked to cover the difference. It is worth checking the plan to see whether it would cover any increase in third party costs, i.e., cremation fees though as this may not be covered and the extra funds would need to be found after your death.
The Competition and Markets Authority have now laid down that Funeral Directors and Crematoria must give display details of their charges either on their premises or online. Having access to this information can provide a good starting point when trying to decide which funeral directors you would like to handle your funeral and the form of the funeral.
Funeral plans vary greatly in the level of service provided and some lower cost plans may not give you exactly what you wanted so you will need to read the policy carefully and ask lots of questions to make sure you know what you are paying for.
If, by the way, you haven’t yet set up Lasting Powers of Attorney and made that Will it really is time to do so and we’re here to help. If you would like any advice about Lasting Powers of Attorney or Wills please contact Cath Collins or Kieren Cross on 01945 898090 or via email This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it..
