It has been revealed that £2.3 billion was spent on funerals last year, which was an increase of over £26 million from the year before.
Research was conducted to explore how much grieving families spend on funerals for loved ones.
It is estimated that the average cost of a funeral is £4,285.
A lot of clients look ahead to the cost of funerals, and many are looking at funeral plans or direct cremations to keep costs down. A funeral plan can help to keep costs of a funeral down and provides peace of mind to clients that they have arranged their funeral, and it has been paid for so that there is less stress and things to organise for family members. A direct cremation takes place with no service or mourners present.
Cost of funerals
Clients are often concerned as to how their funeral will be paid for, if they do not have a plan. Many banks will settle the funeral invoice direct from the deceased’s account (even if the account is frozen) to save family members having to front the cost and then reclaim from the Estate.
By making a Will, you can document any funeral wishes you may have, providing your Executors with a clear indication of your wishes. It is the responsibility of your named Executors to arrange a funeral, and whilst funeral wishes are not binding in a Will, it is a good way to document your wishes.
If you have detailed funeral wishes, you may wish to consider a letter of wishes which can be placed with your Will for your Executors to follow. A letter of wishes can also be easily amended if there are any changes in the future. Rather than including wishes in the Will, this option can appeal to clients as although a Will is confidential, once Probate has been granted, the Will becomes a public document.
What else can be included in a Will?
A Will also allows you to appoint a guardian if you have minor children, it allows you to set out how you would like your estate dividing up, whether you wish to leave any legacies to charities or friends and your Will can also be used to protect assets against a surviving spouse’s remarriage or long-term care fees.
How can Timms Help
At Timms, we offer a friendly and efficient service, and we can prepare a Will for you that reflects your wishes and circumstances.
For further information please contact me, Megan Lovell, on 01530 564498 or at m.lovell@timms-law.com.
Visit our Wills page for more information here.
