Funeral Cost
The average funeral cost varies from state to state. Depending whether it is a funeral or cremation the a family planning a funeral may incur expenses ranging from 3000 to to 10000 dollars. The U.S. Federal Trade Commission in its Funeral Consumer Guide mentions the cost ranging from 6000 to 10000 dollars, but it refers to a funeral service and not necessarily a cremation, which is known to be less costly. Some funeral homes, surveyed by QuoteFuneral.com in March 2010, said that the cost of the funeral in USA may reach and even surpass $20,000 dollars. They said the expenses will depend on the number of services provided.
How To Pay For Funeral Expenses
First, start by learning if the departed person may have a funeral trust set up to cover the cost of his or her funeral. Then learn about the preferences that the departed person had. As the prices of the funeral home services vary greatly, it is important to set a budget. For example, the prices of caskets may vary from few hundred to several thousands of dollars. Thus, if a budget that meets your needs and goals is not set, it will be very hard to navigate in paying the expenses of a funeral.
FTC has a healthful recommendation at hand. Make copies of this page and check with several funeral homes to compare costs, when they send or show you their quotes.
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"Simple" disposition of the remains:
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| Immediate burial | |
| Immediate cremation | |
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If the cremation process is extra, how much is it? |
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| Donation of the body to a medical school or hospital |
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"Traditional," full-service burial or cremation: |
| Basic services fee for the funeral director and staff | |
| Pickup of body | |
| Embalming | |
| Other preparation of body | |
| Least expensive casket | |
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Description, including model # |
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| Outer Burial Container (vault) | |
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Description |
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| Visitation/viewing — staff and facilities | |
| Funeral or memorial service — staff and facilities | |
| Graveside service, including staff and equipment | |
| Hearse | |
| Other vehicles | |
| Total |
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Other Services:
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| Forwarding body to another funeral home | |
| Receiving body from another funeral home |
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Other Services:
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| Cost of lot or crypt (if you don’t already own one) | |
| Perpetual care | |
| Opening and closing the grave or crypt | |
| Grave liner, if required | |
| Marker/monument (including setup) |
Tax Deduction
Many people may not know that certain types of funeral expenses may be deducted from their taxes. However, this can be done only when applied correctly. According to IRS "Funeral expenses paid by the estate are not deductible in figuring the estate's taxable income on Form 1041. They are deductible only for determining the taxable estate for federal estate tax purposes on Form 706." The U.S. government's tax agency also says that "a qualified funeral trust no longer has to meet the contribution limit previously imposed on such trusts."