The British do not on the whole like being told how to handle their emotions. A reserved people that only tend to open up
War has broken out amongst the larger chain funeral directors and a funeral cost comparison website after it was revealed that funeral costs had risen
Funerals in the UK arranged in the “usual” way currently cost an average of £4,257, but this figure is expected to rise rapidly in coming years. In fact, by 2031, the average cost is expected to top the £10,000 mark. Even if you have been ill or your loved ones have had some time to think about and plan your funeral, unexpected costs can still arise.
In only 2 decades the average funeral could cost up to £7,000!
In the last 10 years, basic funeral costs have increased by a staggering 88%. Statistics from the Funeral Planning Authority (FPA) have shown that the number of funeral plans sold between 2006 and 2016 tripled, meaning more and more people are taking steps to put in place arrangements for their end of life celebrations.
Families are already cutting costs when it comes to funeral bills, currently individual funeral debt is around £1,601, which accounts for £147 million nationally, according to latest figures published by Royal London.
This is perhaps in no small part due to the fact that the cost of funerals has also risen, and if unaccounted for, these costs can leave your loved ones out of pocket and struggling after you’re gone.
Leaving funeral planning to loved ones can not only mean that your wishes are not adhered to, but it can also cause them a great deal of undue stress and financial worry at an already upsetting time. So what can be done about it?The easiest way to alleviate fears about how to pay for a funeral is to buy a prepaid plan.
Putting in place a burial or cremation plan enables you to make a one-off purchase/or a low monthly payment, and secure a plan that gives you control over your wishes whilst alleviating your loved ones of any financial burden.
This can provide you with peace of mind, and protect your family from incurring unanticipated bills.
Many families who are faced with the cost of a funeral they simply cannot afford may be forced to choose other options such as Direct Disposal, which can be upsetting for all involved if this was not your intention.
Not to mention that after the passing of a loved one, there are many other things to consider beyond burial plans, such as the will, what to do with property and inheritance, how to divide assets, closing accounts, notifying banks and creditors, and so much more.
On top of all of this, the cost and time associated with planning a funeral should not weigh heavy on the shoulders of your loved ones.
Finances shouldn’t dictate your final farewell:
At FuneralGuide.co.uk, we understand how personal a funeral is. That’s why we make it easy for you to view and compare funeral plans to help you make the most informed choice possible.We appreciate that for many people, planning a funeral can be a distressing thought, and we don’t want to compound any stress or pressure.
All of our information is free to access and jargon free, helping you weigh your options with no obligation whatsoever.
FuneralGuide.co.uk also offers a number of additional resources that can be of use during the planning process.
For example, our checklist is ideal for those who are not sure where to start when it comes to organising a funeral.
If finances are a barrier, we can present some low cost options to help ease the cost of a funeral.
There’s no one-size-fits-all burial plan, and we understand that the wishes of families and individuals are different. That’s why we take the time to put together our 100% FREE guides, giving you the information to select something that is most suitable for you.
The average age of death in the UK is officially 81.5 years of age, but it’s never too early to start estate planning and having a look at funeral plans before it’s too late.
There are now a number of touches you can add to a funeral to make it extra special, which is yet another reason you may want to plan ahead. For example, filming, photography and video services are rising in popularity, especially during “end of life” celebrations.
Other options & alternative ways to pay for a funeral
Just as you prepare for retirement, you can over time put savings aside in a designated funeral fund to help your loved ones cover the costs. Alternatively, you could compare funeral plans to see which one suits you best.
But, this could be in a high interest savings account to help you accrue more money over the long term, for example. It may be possible to save for a funeral, and use the lump sum, or, if an ISA can be utilised for this purpose it may also be worth it.
Saving a set amount every month could then be used by family members to pay for the funeral. Downside: With a cash ISA, you won’t be able to get the money out until your executors have probate.
It should not be this way, but it may be that your family may have to sell possessions from the family home in order to raise money for the funeral costs, parting with items that may hold sentimental value during a difficult time. This could be through a private sale or through an auction.You don’t have to sell off family heirlooms – click here to speak to us first as we will help if we can.
If you are under 50 years old, life insurance cover may be a better option.
Although not traditional, home burials can be an option, if your home meets certain criteria, including informing your local police, local authority and environmental health authority. Downside: Don’t forget that it will probably impact property resale value if and when you come to sell, and desirability also.