Ask Terry Questions Funeral prepaid

Funeral prepaid

By Terry Savage on January 31, 2024 | Wild Card

is it a good idea to prearrange a funeral.

Terry Says

It is a good idea to have an “estate plan” — a will or if you have enough assets, a Revocable Living Trust. Either document distributes your assets according to your instructions.
But frequently the funeral is held before the will is read! So you should also leave another letter (and tell your closest relative where it can be found), detailing your funeral wishes.

It’s a good idea to have a cemetery plot already purchased, and perhaps a headstone if family members are also interred there. But it is not necessary to prepay an entire funeral — unless you are worried there won’t be enough assets left over to cover the costs.
If you do purchase a prepaid funeral, be very careful which service you use, since your funeral may be years down the road.

Some insurance companies offer policies designed to cover those costs. But they are typically expensive. Learn more by reading this:



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