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We want to give our children the most inheritance we possibly can. But many of us don’t plan for the funeral costs which they will inevitably have to pay the bill for. So all that saving that we did, can be decreased even before they have been read the will by a probation lawyer. That’s why you need to plan for everything, making sure that you don’t squander the money meant for your kids. But it also means you don’t have to put up with extortionate prices either. So many people just want to get it over and done with. Which results in them ending up paying more than they should for their own funeral. Start planning and saving now, so your children benefit fully.

Make relevant documents beforehand

The writing of the will is something that sounds simple. But there are legal services that get tacked onto it, that jacks up the overall price. So, you should avoid the probate lawyer adding on things, by doing these things yourself. 

Take all relevant bank documents with you because many probate services will offer you their own document creation services. Which always cost more than simply doing it yourself. This will include approval of your ISA savings account to be fully withdrawn at the reading of the will. To whom you have selected as the beneficiaries. The bank needs to know and finalize who this will be before you write the will. 

Transfer your property instead

The willful sale of any property, upon your death. As soon as you pass away, the ownership of property suddenly becomes a hot debate if you haven’t tied up loose ends. You can save money by choosing “transfer in death” rather than “payable on death” or “in trust of”. The second option will mean the company paying the beneficiary will want a percentage of the total wealth paid. The third option will mean fees for legally holding the property which incurs monthly fees. Transfer on death is the cheapest because there’s no sale of the property therefore, no admin fees. A company is not maintaining the property for your loved one, which means no fees again.

Go with package deals

Some people would prefer to handle most of the funeral arrangements themselves, with a service hired for the rest. But this would cost you more money because funeral homes have package deals. If you look at the average funeral costs, you’ll find that you don’t need to buy anything separately. This service is very affordable and comprehensive because it will include a coffin, professional services, use of facilities, transportation. As well as other services like costs related to cremated remains, etc. 

Costs you don’t see

The last thing you want is for your beneficiaries to start taking legal action against each other. Because they feel entitled to some of your wealth or items. Have a talk with your beneficiaries, and make sure they understand that your word is final. The will should be executed exactly how you have chosen it to be. 

End-of-life costs can spiral out of control because you didn’t plan ahead. Make relevant documents before you go to the will and probate lawyer so you’re not charged extra for their services.