Funerals can vary a lot in cost, and funeral costs are rising over time. If you want to guarantee that you can have the funeral you want, you may want to consider talking to local funeral homes about prepayment.
Prepaying for your funeral allows you to make all of the choices around your funeral well ahead of time.
Instead of leaving those decisions to the executor of your will, you can simply make them yourself and arrange them ahead of time with the local funeral home of your choice. This will relieve some of the burden left on your loved ones after your death.
Prepaying for your funeral also allows you to lock in your funeral costs before they rise further. Since funeral costs have historically gone up consistently, this is a relatively secure option.
Funeral prepayment isn’t for everyone, however. As discussed in the video posted above, you should avoid prepaying for your funeral if you might move in the future or if you aren’t completely set on what you want for your funeral. If you do choose to prepay for your funeral, make sure you read the contract carefully to see if you can change your mind about any of your decisions later or if you’re locked into what you choose when you prepay.