With the cost of a funeral averaging between $7,000 and $12,000 and steadily increasing each year, at the very least your estate plan should include enough money to cover this final expense. But if you are thinking of simply setting aside money in your will to cover your funeral expenses, you should seriously reconsider, as paying for your funeral through your will can create unnecessary burdens for your loved ones.
Although you can leave money in your will to pay for your funeral expenses, your family won’t be able to access those funds until your estate goes through the court process of probate, which can last months or even years. And since most funeral providers require full payment upfront, your family will likely have to cover your funeral costs out of pocket. Moreover, your loved ones will have to deal with all of this while grieving your death.
If you want to avoid burdening your family with such a hefty bill and the stress that comes with it, you need to use estate planning strategies that do not require probate. While you should meet with our Personal Family Lawyer® to find the solution best suited for your unique situation, the following five options are among the most commonly used methods for covering funeral expenses without the necessity for probate.
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