If one of your relatives has passed away unexpectedly and you are scrambling to find the funds to pay for their final expenses, then you will be pleased to learn there are many options for you to choose from, including each of the following:
Check for a Life Insurance Policy
One of the first things you should do after being notified of your relative's death is to search their home for a life insurance policy. If they had a safety deposit box, then you should check this as well. People often put their important financial documents in a safety deposit box at their local bank to protect them from house fires and theft.
Make a Budget and Stick to It
Whether you find a life insurance policy or not, you need to sit down and make a budget for their final expenses. You need to determine how much money you can afford to spend for their service as well as their burial or cremation. It is vital that you create your budget before you visit the funeral home and that once you arrive you stick to the budget.
Pass on Optional Costs If You Have a Small Budget
If you have a small budget for your relative's final expenses, there are many ways that you can cut costs while still honoring their life.
For example, you can:
eliminate viewing time at the funeral home
opt for a closed-casket service
opt for an alternative service type
make your own flowers or memorial cards
While having viewing time at a funeral home is nice for friends and family who want to visit with family, it is an added expense that can be avoided by having a wake at your home instead.
If you opt for a closed-casket service or cremation, then you can avoid the added cost of embalming. Additionally, with cremation, you can also avoid the costs of a cemetery plot and a casket.
Since a chapel service has the added costs of renting the space, paying a minister, and providing music, you can avoid these costs by having a graveside service or a celebration of life somewhere other than at a church or funeral home.
And, finally, you can save your family some additional funds by making your own memorial cards or providing your own flower arrangements for the service made of flowers purchased inexpensively at your local grocery store.