As explored in a previous article, legacy planning is multifaceted, from managing investments, to creating a will, making CPF nominations, LPAs and much more.
However, one critical element often overlooked is funeral costs.
Incorporating funeral expenses into legacy planning ensures that your final wishes are respected, easing both the financial burden from your loved ones, and the need to second-guess your preferred funeral arrangements.
This article will delve into why funeral costs are a vital component of legacy planning and highlight the various factors to consider.
Why You Need to Include Funeral Costs in Legacy Planning
Legacy planning is as much about managing assets as it is ensuring that your end-of-life arrangements are handled according to your wishes. Including funeral costs in your legacy plan thus provides several benefits:
Easing the Financial Burden on Loved Ones
Funerals can be expensive, and the costs can vary widely depending on preferences and religious practices....