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Should you pay for a funeral in advance?

On Behalf of | Nov 17, 2021 | Estate Planning |

As the holidays and winter settle in, you might see some familiar and serious topics crop up around the dinner table when family comes to visit. Talks about preparing for the future for yourself or for your aging loved ones tend to be big subjects around this time.

Even if the family expects a death on the horizon, it is hard to have everything laid out to make things easy. But one topic you may talk about is whether or not a preneed funeral contract is a good move for your family.

Funerals and preneed contracts

Estate planning involves a lot of wills and trusts and a good way to pay for a funeral in advance is by using a funeral trust to finance a preneed contract. According to, these payment options have their pros and cons but focus on providing you peace of mind regarding your or your loved one’s funeral costs.

A preneed contract is an agreement between a family and a funeral home regarding the expected services upon death. It may include stipulations around the embalming, visitation or funeral. It parallels well alongside other estate planning agreements regarding one’s wishes.

Costs and wishes

Funerals may run between $7,000 and $10,000 depending on the services. Burials tend to cost more than cremations due to cemetery services and vault requirements. Paying for these arrangements in advance may help ease the pressure when you and your family are in the middle of grieving a loved one. No matter what, your plans help to establish your wishes or the wishes of your loved one.

Once your family decides what those wishes are, there are resources to make sure any agreements convey those wishes clearly.