subject: Planning Your Funeral: Why It's Not A Morbid Thing To Do [print this page] You might be thinking that concentrating on your eventual death is inviting disaster, but the truth is that every single person on this planet will, at some point, succumb to the failure of the physical body in some way. It could be sudden and soon or slow and far away, but it will happen. Just like saving money against a rainy day is considered wise instead of morbid, planning for your own funeral can save your loved ones the distress of having to make rapid decisions during a very emotional time.
A funeral in Mississauga isn't much different from a funeral in Oakville or a funeral in Brampton. In general, people who knew you in life will gather to mourn your passing and celebrate your life. (And if you don't think anyone will show up, it's time to change the way you relate to others. It's never too late.) There will probably be a service in a chapel or funeral home followed by the burial at the cemetery. There are infinite variations on that theme, of course, and that's where you get to have fun putting it all together.
The first thing you probably want to consider is how to pay for your funeral. When costs can shoot into the tens of thousands of dollars, the bill can be burdensome for a surviving spouse or family members. If you're young enough and have dependants, take out life insurance. At eight to ten times your yearly income, the benefit should be enough to cover funeral costs.
If you happen to die in a way that excludes your beneficiary from receiving the life insurance payout, however, or you don't have life insurance at all, make sure you have a backup: savings. While you can pre-pay a funeral and be done with it, choosing your casket, burial plot, and funeral services, you can also put that same amount of money into an account that yields 10% or so per year, on average, and be able to bequeath a much larger amount to your survivors. For instance, if you invested $10,000 for 15 years at a 10% return, that would more than pay for your funeral. Everyone could have a grand party as well, with some left over. Just make sure you leave behind all the information for that money in a place it will be found and utilized. You can also leave behind instructions for your burial if you wish, because after all, it's your money.
Making plans for your funeral ahead of time not only does not invite disaster, it will help your survivors cope with your loss with less stress and greater gratitude for your foresight and thoughtfulness.
