Setting aside funds today to meet your funeral and memorial expenses will mean you can minimise stress and worry for those left behind. Your family can take comfort in the fact that your funeral will take place according to your wishes and has been taken care of financially.
Depending on location, the cost of a funeral ranges from $5,000 to $10,000 or more. Many people, concerned that day to day living expenses will erode their savings, now put aside money specifically to cover their funeral.
Up to $15,000 can be put aside in a prepaid funeral trust and is not counted as part of your assets when calculating eligibility for residential care subsidies. For more information on Prepaid Funeral Trusts, read our Frequently Asked Questions.
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