Should You Prepay Funeral Costs?

There is no right or wrong answer, but you’ll want to review the pros and cons of prepaying funeral expenses.

The Pros:

• When you prepay, you lock in today’s prices. Even if costs increase, the money you’ve given the funeral home is guaranteed to cover the goods and services you’ve selected.


• Your personal arrangement with the funeral home guarantees you’ll have the funeral you want.


• Your loved ones won’t have to make decisions about the details of your funeral.

The Cons:

• The money you use to prepay expenses is controlled by the funeral home director, not by you.


• The funeral home you have chosen could go out of business or change ownership.


• You usually can’t transfer your prepaid plan to another funeral home if you move or die in another location.

If you decide to prepay funeral expenses, make sure you have a written document outlining the products and services you’re entitled to receive. Keep it with your will, and tell loved ones about the arrangement.