The thought that one day in the future will be our last on this earth is not one which many of us will choose to dwell on, but it is so, and it brings into focus some practical realities that we need to address. Whilst financial planning might often be more appropriate for someone whose life is in front of them, it is something that can benefit people of all ages, even if they have no plans to throw off this mortal coil anytime soon.
One of the specifics which we can plan for, regardless of how old or how young we are, is our funeral within our estate planning. We mention ‘young’ because, in reality, the earlier you have plans in place for your funeral, the less stressful and upsetting it will be. For example, compare the difference emotionally for someone aged 40 planning for their funeral, knowing it will be decades away, and someone in their mid-70s doing likewise, knowing it might be just a few years from now.
Apart from the emotional observation we have just made, there are several other reasons why you should have your funeral plans in place well in advance. Now, we accept that many of these benefits will accrue to your loved ones after you have passed away, but from the moment you finalise your funeral plans, it will give you peace of mind, knowing everything is in place. The specific benefits are outlined below.