5 Financial Steps to Take When a Parent or Loved One is Dying

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#4: Consider Likely Funeral Costs  According to the National Funeral Directors Association’s 2010 General Price List Survey, the median cost of a funeral was $6,560 in 2009. The median cost of a funeral with a vault that same year was $7,755. These costs may be out of your budget but can be accommodated for with the help of a life insurance policy. Alternatively, it’s a good idea for multiple family members—if possible—to start setting aside some money to cover the costs of the funeral or burial. Some families unable to afford the cost of a casket and a more elaborate burial service opt for a dignified and less expensive option, such as cremation.

#4: Consider Likely Funeral Costs According to the National Funeral Directors Association’s 2010…

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