Navigating The Financial Side Of End-Of-Life Planning

Many people seeking funeral and cremation services in McMurray, PA overlook the fact that funeral costs are an inevitable part of end-of-life planning. The financial side of funerals is important to research because you don’t want to have to deal with unexpected costs and added stress during an already difficult time. Here is a comprehensive guide to navigating the world of funeral costs, so that you can make informed decisions and plan ahead.

Understanding Funeral Costs

You need to understand that funeral costs vary depending on where you reside. Researching the amount different funeral homes in your area charge can give you a rough idea of the fees and expenses you may have to pay. The number of services you include in your funeral plan adds to the cost of the entire funeral. That includes different services such as traditional funeral services, cremation, and memorial services. You also have to think about the funeral director fees, casket, and gravesite. On average, the total amount you have to pay for a funeral is between $7,000 and $12,000. For cremation, you have to part with $6,000 to $7,000.

Options For Covering Funeral Costs

You can cover funeral costs using your personal savings, personal savings, life insurance, and funeral trusts. Each option has its benefits and drawbacks, which means you have to be cautious when choosing. For example, life insurance can provide a lump sum payment to cover funeral costs, but it may take time for the payment to be processed. Your personal savings are quicker and more convenient to access but they may not be enough to cover the full cost of the funeral. You can also visit your local department of social services website to see if the state or county offers burial assistance funds. The amount offered ranges from hundreds of dollars to $2,500 depending on your state.

Government Assistance For Funeral Costs

Two main sources of government assistance for funeral costs are Social Security Lump Sum Death Payment (LSDP) and veteran benefits. The LSDP option is federally funded and is a one-time payment of $250. It may seem meager but it can cover a number of costs associated with the funeral of your loved one. Veteran benefits through the VA can help cover some of the funeral costs of a veteran or military member who passed away. But you have to claim those benefits and your deceased loved one must be eligible for those benefits.

Reducing Funeral Costs

You can reduce funeral costs by choosing an affordable casket and choosing memorial services instead of traditional funerals. Another cheaper option is cremation. But most funeral homes provide multiple cremation packages with different prices.

Our funeral home can help you balance cost savings with personal preferences when you are organizing or planning a funeral. When you use our funeral and cremation services in Canonsburg, PA, our staff can discuss with you various ways you can pay for funeral expenses and help you organize a fitting farewell for your loved one.