Stapleton Elder Law

Lawsuit Alleges Negligent Hiring and Elder Abuse at Nursing Home

The death of an elderly patient is being blamed on elder abuse and negligent hiring. It’s distressing to read about, and presents a worrisome picture of what can happen to vulnerable seniors.

A lawsuit has been filed by the daughter of Jeanne Roney, 91, against Golden LivingCenter in Napa, California, accusing the nursing home of neglect. Roney died nine days after being diagnosed with scabies, but the list of ailments that the lawsuit alleges went untreated by the facility is lengthy.

The Napa Valley Register reports, in “Former Napa care facility sued for elder abuse after patient dies,” that Golden LivingCenter Napa allegedly failed to provide sufficient staff in number or in training to properly care for Jeanne, causing serious injuries and death. Her attorney stated, “Golden LivingCenter charged top dollar for care and then failed to hire and retain sufficient and competent staff to provide required care to Jeanne in order to prevent further injury.”

Roney was suffering from dementia and other medical conditions that caused her to require help with daily activities. She came to Golden LivingCenter in 2011, after she suffered a stroke and fractured her leg.

The lawsuit alleges that Golden LivingCenter failed to provide Roney with IV antibiotic therapy, which she required to prevent her from developing life-threatening infections, failed to appropriately treat her infection and failed to prevent the infection from getting worse. She developed multiple urinary tract infections, requiring care at a local hospital in 2015 and 2016, while a resident of Golden LivingCenter. Last winter, she developed another urinary tract infection and was eventually diagnosed as being dehydrated and septic.

The suit also claims that four employees at Golden LivingCenter contributed to Roney’s injuries, one of whom—Ronald Mesia Moralde—was caught with stolen medication taken from Golden LivingCenter last spring. Moralde pleaded no contest to first degree burglary last August. The drug charges and misdemeanor crimes against an elder adult were dropped. He was sentenced to one year in jail and three years of probation.

The complaint alleges that the facility knew it was understaffed and that its employees were not sufficiently trained. This resulted in the withholding of medical and custodial services to residents. The lawsuit alleges that management did this to make money.

In addition to four self-reported incidents, Golden LivingCenter has received 85 complaints in the last five years. The same attorney representing Roney is also representing another patient who is suing for elder abuse and negligent hiring and supervision.

Reference: Napa Valley Register (March 24, 2017) “Former Napa care facility sued for elder abuse after patient dies”

To learn how you can best protect yourself and your loved ones, please visit our website.

Welfare Check on Senior Leads to Lawsuit against NYPD Officer

A federal judge has ruled that a police officer’s uninvited entry into a house to check on the well-being of an adult with dementia, is shielded by qualified immunity. The response to a possible crisis was correct.

Given the number of elder abuse cases, it is encouraging that New York Judge Frank Geraci’s decision, as reported in the New York Law Journal’s article, “Officer's Welfare-Check on Elderly Man Is Shielded by Immunity, Court Says,” supported the actions of Lt. Joseph Buccilli, a police officer with the Orchard Park, NY Police Department.

The judge said the police officer was protected by his good faith actions in responding to an emergency. He had qualified immunity from a suit filed by the owners of the home he entered, in alleged violation of residents' Fourth Amendment rights to privacy. The judge went on to say that even if Buccilli's beliefs that his actions were justified in entering the home were based on wrong assumptions, the officer’s actions weren’t so "plainly incompetent" as would qualify as a violation of the resident's Fourth Amendment rights.

The judge said "…no one has pointed this court to any controlling case that clearly establishes the answer to this question: When performing a welfare check on an individual in response to a request from adult protective services (or a similar agency), may a police officer enter a location to determine the welfare of that individual?"

Buccilli was called to the Buffalo area home of the Batt family. LuAnn was the daughter of the elderly Fred Puntoriero, whom the family had taken in after he was diagnosed years earlier with dementia. Fred's daughter-in-law called the local Adult Protective Services in April 2012, complaining that she and her husband hadn’t been permitted to see Fred for several weeks. They were concerned about his condition. Fred’s son (Joe) and daughter (LuAnn) each had power of attorney over their father, according to the ruling.

Adult Protective Services made a 911 call to Buccilli the next day. Joe didn’t want to let the officer in, but Buccilli followed Joe through a side door and found wheelchair-bound Fred inside the home. Fred looked well-groomed and well-fed. He was able to identify himself, and an Adult Protective Services case worker later confirmed that Fred was under hospice care and was receiving good care.

LuAnn Batt sued Lt. Joseph Buccilli, alleging their Fourth Amendment rights were violated.

Fred died later that year, at age 76.

Reference: New York Law Journal (April 3, 2017) “Officer's Welfare-Check on Elderly Man Is Shielded by Immunity, Court Says”

Please visit our website to learn how to best protect yourself or a loved one as they age.

Minus Michael, the Jackson Estate is All Business

Without the spending habits of Michael Jackson and the involvement of members of his inner circle, the Jackson estate has been transformed into an efficient multi-million dollar empire.

As it stands now, the only factors that might keep the Michael Jackson money machine from moon-walking into eternity are his heirs.

The estate recently severed ties to Jackson’s publicist and former management team, after a multi-year courtroom battle. The losers said they stood by the star at a really low point in his life. In return, they claimed, he promised them 15% of his business. Trust Advisor’s recent article, “Michael Jackson Estate Reveals Mr. Hyde Side: Dead Star Now Fighting His Friends,” explained that since the estate wanted all of the cash, whatever Michael really wanted is of little consequence without legal documentation. Since a judge has dismissed the claim, the estate can continue consolidating its hold over every aspect of the Michael Jackson brand. All the old relationships that he once had with partners and advisors are gone.

The executors have been extremely busy over the last eight years, erasing any existing relationships for higher absolute returns on the assets. Michael’s attorney—now in charge of his estate—is looking at the way the assets are being transferred to his kids. Michael’s mom gets 40% of the income while she’s alive, and his kids each get a third of what’s left in three installments each when each one of them turns 30. After that, it’s all about maximizing the amount the executors will have to turn over in the future.

And nothing is out of reach. That’s how the estate justified liquidating the Beatles song catalog which Michael loved—despite that songbook making $10 million a year. The estate also sold the global distribution rights to Michael’s own publishing in a deal that soon expires.

When Michael was alive, he was a star. He was untouchable and burned through cash like it grew on trees. He made poor decisions and couldn’t hire a top manager to turn around his cash flow. It was his charm and goodwill that got his old lawyer back to run the estate. It’s now a big business that can chase bigger deals and generate more cash.

With the estate firmly in control, cash continues to roll in. Through the use of digital technology, Michael continues to be paid huge fees for endorsements and “appearances.” The estate’s first duty is to generate enough income for the kids to be comfortable, even though there’s about a decade before they will start to receive portions of their inheritance. The biggest battle looming is an IRS demand for taxes on image and publicity rights, worth up to $140 million, but if the estate is currently worth $1 billion net cash, that won’t make much of a dent. With the right management and good merchandising, Michael’s grandchildren and even his great grandchildren, are likely to benefit from his legacy.

Reference: Trust Advisor (April 3, 2017) “Michael Jackson Estate Reveals Mr. Hyde Side: Dead Star Now Fighting His Friends”

To learn more about estate planning that meets your needs and goals, please visit our website.

 

Understanding the Basics about Medicare

Even if you are still working, once you turn 65, you have to navigate your way through an entirely new and complex health care system. While there’s no HR department, there are resources.

It starts the day you turn 65, and it’s a bit of a challenge. Seniors need to get up to speed fast on the many requirements of Medicare. A recent post of Kiplinger’s, “FAQs About Medicare,” warns that mistakes can be extremely costly and difficult to fix. You’ll want to study up on this in advance.

For starters, if you signed up for Social Security before age 65, you’ll automatically be enrolled in Medicare parts A and B and receive your card three months before your 65th birthday. Part A covers hospitalization and is generally premium-free. Part B covers outpatient care, such as doctors’ visits, x-rays and tests, and costs $134 a month for people who enroll in 2017 (or more for high earners).

Here are more Medicare basics:

Sign-up for others. Everyone who is not part of the group above, must take action to enroll or face a lifetime late-enrollment penalty (unless you’re still working and have employer coverage). Go to www.socialsecurity.gov to sign up anytime from three months before, until three months after you turn 65, your “initial enrollment period”. This is true, even if you’re waiting to file for Social Security benefits.

If you (or your spouse if you’re covered by your spouse’s insurance) are still working for a company with 20 or more employees, the employer’s insurance is your primary coverage. Medicare is secondary and can fill any gaps in coverage. You don’t have to sign up for Medicare at 65, and you won’t have a late-enrollment penalty, provided that you sign up within eight months of leaving your job and losing work-based coverage (or losing coverage under your spouse’s insurance).

If you work for a large employer and like the coverage, you can delay signing up for Part B. However, the rules are different if you work for a company with fewer than 20 employees: Medicare generally becomes your primary coverage at age 65, and you must sign up for Part A and Part B while you’re still working. You can’t delay signing up for Part A, if you’re already receiving Social Security benefits and were automatically enrolled in Medicare, despite the fact you’re still working.

Health savings account. You can still contribute to a health savings account after you turn 65, provided you haven’t enrolled in Medicare. If you’re able to delay signing up for Medicare Parts A and B, you can continue contributing to an HSA. Before you do, see about the HSA’s tax breaks, any employer contributions and other benefits that would be more valuable than the premium-free Part A coverage.

Retiree health insurance. At age 65, unless you (or your spouse) are still working and have current employer coverage, you should sign up for both Medicare Part A and Part B. Retiree coverage can fill gaps in Medicare (which would otherwise require Medigap and Part D policies or a Medicare Advantage plan), but it’s secondary to Medicare after age 65. It may also not kick in at all, if you don’t sign up for Medicare. Federal retiree coverage is an exception. It remains your primary coverage if you don’t sign up for Medicare, but you’ll pay a penalty if you decide to sign up for Part B down the road.

The late-enrollment penalty is 10% of the Part B premium for every year you should have had coverage. The penalty applies as long as you receive Medicare benefits.

Medigap. You may need Medigap insurance to pay deductibles and co-payments. Most folks buy a Medicare supplement (Medigap) policy to pay those costs, plus Part D prescription-drug coverage since Medicare generally doesn’t cover drugs. Another option is to sign up for a private Medicare Advantage plan, which provides both medical and drug coverage. These policies are sold by private insurers and come in ten standardized versions. You get to go to any doctor or facility that is covered by Medicare. Private insurers sell part D prescription-drug plans. Medicare Advantage plans combine medical and drug coverage and may also provide coverage that isn’t available through Medicare, like dental and vision care.

Medicare high-income surcharge. If your adjusted gross income plus tax-exempt interest income is more than $85,000 for singles or $170,000 if you’re married and filing jointly, you’ll be subject to the Medicare high-income surcharge and pay extra for Part B. You’ll also have to pay extra monthly for Part D drug coverage.

Expensive drugs with high out of pocket costs, even with Part D coverage. Start by asking your physician if there is a generic version that costs less, or if you can use a preferred pharmacy. Then start shopping for a new plan during open enrollment in the fall.

Reference: Kiplinger (May 2017) “FAQs About Medicare”

To learn more about Medicare and planning for your retirement, please visit our website. 

Sons of Tennessean Senator Drop Challenges to Father’s Will

This case is an example of how open and above board communication about estate planning, especially in step-family situations, is so important, both to preserve relationships and to prevent litigation.

When Tony and Dan Thompson, sons of actor and former U.S. Senator Fred Thomson, did not receive answers to questions about legal work performed when their father was in hospice, they filed a lawsuit, claiming that their father’s wife and their step-mother influenced their father at the end of his life.

According to an article in The Tennessean, “Dispute over Sen. Fred Thompson's estate ends,” the sons were rebuffed when they asked questions about legal work that had led to $40,000 in attorney’s fees, including drafts of new estate plans and changes to beneficiaries.

Public statements and court documents show that the family fight arose from a bill a law firm filed against Thompson's estate. Recently, the Nashville probate judge ordered Jeri to deliver the documents that related to Thompson's assets and estate planning.

After seeing those documents, the boys had a change of heart and dismissed their suit.

They stated that they were satisfied that their father's final wishes were followed. They added that they were ready to move forward and were grateful that their dad finally had a tombstone. They hoped the executor would take care of the remaining obligations, so they could all move on.

Fred Thompson served Tennessee as a Republican in the United States Senate from 1994 to 2003. He also had a leading part on the television show "Law and Order."

Thompson passed away in November 2015 at the age of 73. He married Jeri in 2002. Tony and Dan Thompson are his children from a previous marriage.

Jeri Thompson's lawyer said that the legal battle was an unfounded embarrassment to the late senator and actor.

The sons dismissed their case in late March, according to court records.

Jeri Thompson’s lawyer defended his client, and told the court that the sons misread, intentionally or otherwise, descriptions in legal bills that should never have been filed with the court.

Reference: The Tennessean (April 3, 2017) “Dispute over Sen. Fred Thompson's estate ends”

 

Please visit our website to learn how we can assist you in establishing an estate plan that reflects your wishes. 

How Does an IRA Fit into Your Retirement Savings Plan?

The Individual Retirement Account, or IRA, was created specifically to encourage Americans to save for their retirement. This tax savings tool should be part of everyone’s retirement plan.

If you don’t already have an IRA, whether a traditional IRA or a Roth IRA, you are missing out on some real tax savings. A recent article in madison.com, “5 Things You Should Know about IRAs,” gives a great overview of this popular retirement savings vehicle. IRAs are a great way for individuals to save money for retirement at the same time that it provides tax advantages.

There are two main types of IRAs: traditional and Roth. Contributions made to a traditional IRA may be deductible or non-deductible, and all contributions made to a Roth are non-deductible. Both types of IRA accounts allow money to grow tax-deferred for many years. After age 59½, you can start taking qualified distributions. You’ll typically have to pay income tax on withdrawals from a traditional IRA, but withdrawals from a Roth are tax-free. Here’s what you need to know about IRAs:

1. Saving for retirement is a solo job, at least when you’re putting money in a tax-sheltered retirement account. An IRA can only have one owner.
2. IRAs have their own beneficiary designations, so who will inherit an IRA is based on who’s on the account's beneficiary forms—not what’s in a will, trust or any other estate document. Therefore, when you open an IRA, name a beneficiary and remember to review and update the beneficiary designation form regularly, particularly when you have a life event, such as marriage or a child.
3. You have until Tax Day to make your IRA contribution for the last year. If you can't make a lump-sum contribution at the start of every year (giving your money added months to compound), you can spread your contributions over a 15-month period, from January until the following March to help you reach the annual contribution limit each year.
4. You typically must have your own taxable compensation to fund an IRA ( although a working spouse can fund a non-working spouse's IRA.) However, you don't have to use your own money to make your IRA contribution.
5. If over the years you find yourself with a group of IRAs from various jobs, it is considered a savvy move to roll them all into one IRA to improve your ability to manage the money. You’ll still be able to make direct contributions and you’ll cut down on the paperwork.

Retirement arrives before you know it. Be prepared so that you’ll have more flexibility and resources when the time comes!

Reference: madison.com (March 13, 2017) “5 Things You Should Know About IRAs”

Please visit our website to learn more about planning for your retirement and beyond.

David Rockefeller Dies and One of the Great American Fortunes Tests Estate Planning

The last grandchild of one of the first American billionaires has died, and the next several years will prove if an eighty-three year old estate planning success story will come up against any bumps or continue for future generations.

If there’s one long-term estate plan that proves the power of dynastic planning, it’s that of the Rockefeller family. John D. Rockefeller put a plan into place decades ago, and with the death of his last grandchild, the fortune now moves one generation past its originator.

A recent Trust Advisor article asks “Dynastic Gamesmanship: Did David Rockefeller’s Crafty Trust Work Leave the IRS Holding the Bag?” It seems that when John D. put $1.4 billion into his first trust, he funded lavish lifestyles in perpetuity. Fortunately for future Rockefellers, family advisors have watched over the trust and kept it current. The family trustees did extremely well for David and his siblings, while passing completely outside the estate tax system. They enjoyed billions in tax-free income, while the principal continued to compound.

With Rockefeller advisors working hard to conserve the assets, the estates of John D.’s grandkids passed to their descendants with little in the way of taxation. John D.’s trusts passed the bulk of his money to his grandchildren and the great-grandchildren who were around when he set up the plan in 1934. Implementing trusts to bypass the estate tax at the time, arguably tripled the amount of money that went to the heirs, in addition to the income it provided. This saved 70% of fortunes this size from the IRS.

However, with David’s death, the estate plan needs to change. In the 1930’s, the trust code prevented the creation of beneficiaries who weren’t even born yet. This means that original layer of the family’s wealth will need to wind down when the last heir named in the documents dies. That will be John D.’s great-niece Abby Milton O’Neill—his oldest living great-grandchild, who now keeps the trust from terminating. Now near 90, the IRS is still waiting to tap assets. If there’s any principal left, the heirs will pay a tax bill.

By the early 1980’s, there were multiple layers of trusts supporting five generations of heirs—the youngest beneficiaries were only able to claim a 3% genetic bond to John D. This fragmented system kept everyone comfortable, but major charitable donations, and big-ticket purchases became a drag. Therefore, the advisors mortgaged Rockefeller Center and sold some property to raise cash on the deeply illiquid real estate. That cash went back into investments, eventually turning into a profit center. This approach keeps the wealth flowing to an ever-increasing list of descendants, while leaving the assets intact. At some point, their income needs are going to need to cut back or face draining the principal.

The Rockefeller approach is also unique in that their family investment infrastructure is open to other wealthy people, charging an annual fee. This is another reason for the success of the family. It’s cheaper to take in outside clients and share the costs of investments. A less open approach may have seen the fortune shrink, given the huge number of Rockefeller descendants. While trust rules have changed over time, the money continues to roll from past to future, while taking care of the present.

Reference: Trust Advisor (March 27, 2017) “Dynastic Gamesmanship: Did David Rockefeller’s Crafty Trust Work Leave the IRS Holding the Bag?”

To learn what estate planning and asset protection strategies would best suit your family's needs, please visit our website.

Home Health Care Services: Funding Sources

How do people manage to find and pay for home health care services? One part of the problem is explored here: funding support.

It can be overwhelming to learn that a loved one needs to receive in-home healthcare services. Will the person ever regain their ability to care for themselves? What kind of person should be taking care of your loved one? What is the best source for care? How will the care be paid for?

Miami's Community Newspapers’ recent article, “How to Pay for Home Healthcare without Going Broke,” says that many funding resources for in-home services may cost very little or nothing. There are some funding resources for seniors who don’t qualify for government programs. However, bear in mind that some carry financial risks. An experienced Elder Law attorney can help you find the best options for your circumstances.

There are also several different types of caregivers for senior caregiving. You should learn about various roles, since their funding is from different sources.

Personal Care. There are many names for personal care assistants like home care aides, custodial care aides, personal care assistants and companionship aides. They help seniors with hygiene and grooming activities. These caregivers are self-employed and aren’t required to have any certification, licensing or insurance. They typically charge 20-30% less than workers from home health care agencies and you can usually get one on short notice. Medicare doesn’t cover funding for personal caregiving alone. As a result, most families use personal savings for this service.

Home Healthcare. Home healthcare aides (HHA) or certified nurse aides (CNA), personal care aides (PCA) and geriatric workers are considered skilled care. They perform duties like taking a pulse or monitoring blood pressure and personal care. They help with medication management and medical equipment, and provide a higher level of care. HHAs usually work with home health care agencies that have state certification to bill under Medicare and are bonded, licensed and insured.

Seniors who need these types of care, should look for funding for home healthcare in several areas:

Medicare and Veteran’s Administration. Two primary sources of funding for skilled senior care are Medicare and the Veteran’s Administration. Home health agencies take care of the billing.

Medicaid. Some in-home healthcare services may not be covered under the Medicare or Veteran’s Administration plans, so seniors with Medicaid may need to bill for some medical services separately.

State Programs. The Older Americans Act offers funding to states for Meals on Wheels and meals served in senior centers. It also funds programs for health promotion and family caregiving support.

Personal Funding. Maximize federal and state funding before you use your personal finances. There are several ways to finance uncovered costs like your personal savings, annuities, long term care insurance, a reverse mortgage, life insurance policy conversion, home care loans and a home equity line of credit.

Ask a Professional for Advice. There are a number of professionals who can help you figure out the best way to pay for the care, if you need to tap into personal funds. An Elder Lawyer or an estate planning attorney will be able to make recommendations for geriatric care managers or eldercare resource planners. An estate planning attorney will be able to help you understand payment options  and how paying from personal funds will impact the person’s financial health and estate plan.

Reference: Miami's Community Newspapers (March 21, 2017) “How to Pay for Home Healthcare without Going Broke”

To learn how we can assist you plan for the cost of long term health care, please visit our website. 

Benefits Presented by a Family Limited Partnership: Could It Work for Your Family?

The IRS does not like them, but for wealthy families, this kind of limited partnership is an effective means of transferring wealth within a family, while minimizing taxes. You’ll need to work with an experienced estate planning attorney who is familiar with family limited partnerships to do this correctly.

By establishing a business entity to hold assets that would otherwise be subject to transfer taxation, family limited partnerships are used by wealthy families to minimize tax liabilities, according to an article in ThinkAdvisor, “Estate Planning: The Family Limited Partnership Strategy.” The article examines a recent decision in U.S. Tax Court, known as Purdue, which held that a family business entity formed for non-tax reasons is permitted and using it to minimize transfer taxes is acceptable, even though that was one of the reasons that the entity was created.

The Purdues had five children and several grandchildren and great-grandchildren. Their estate was worth about $28 million, much more than the current $5.49 million per person estate tax exemption amount. The couple funded a Purdue Family LLC with about $22 million in marketable securities and other assets and, at the same time, created a trust to benefit the Purdue’s descendants and spouses. The trust was funded with interests in the LLC in proportion to the gift tax annual exclusion each year. Each beneficiary could withdraw up to the gift tax annual exclusion amount or a per capita share of the assets transferred each year. The LLC’s operating agreement spelled out some non-tax reasons for creating the LLC, such as

1. Avoiding fractionalizing ownership;
2. Retaining assets within the extended family;
3. Protecting assets from future unknown creditors; and
4. Providing flexibility in managing the assets that wouldn’t be available in other entities.

When Mr. Purdue died, he created a bypass trust, a qualified terminable interest property (QTIP) trust and a GST-exempt trust—each of which owned a portion of the LLC. Mrs. Purdue and her husband had retained the right to income and distributions from the LLC assets, although the decedent had approximately $3.25 million outside of the LLC and trusts. After the decedent’s death, the IRS attempted to collect more than $4 million in estate taxes and challenged the LLC structure. Trust beneficiaries and the QTIP trust loaned the estate funds to pay the estate tax. The estate attempted to deduct interest paid on the loan, but the IRS challenged this.

Tax Code § 2036 stipulates that property transferred to a trust, in which a decedent holds an ownership interest, will be included in his or her gross estate, except when that property is transferred for adequate consideration. The estate was also required to show that there were valid non-tax reasons for creating the family LLC. The IRS said the LLC was created primarily to transfer wealth to the next generation and to avoid taxes.

However, the Tax Court did not agree with the IRS. Seven non-tax reasons for creating the LLC were found to be compelling and acceptable for the existence of the LLC. They included:

• Relieving the decedent of having to manage the investments;
• Consolidating investments with a single advisor to reduce volatility under a written investment plan;
• Educating the children to jointly manage an investment company
• Avoiding repetitive asset transfers among multiple generations
• Creating common ownership of assets for efficient management and meeting minimum investment requirements;
• Providing voting and dispute resolution rules and transfer restrictions;
• Providing the children with a minimum annual cash flow.

It is worth repeating that these are complex legal entities and require the help of a sophisticated legal professional who is experienced in the formation of Family Limited Partnerships. Ask your estate planning attorney, if an FLP is appropriate for your situation.

Reference: ThinkAdvisor (March 14, 2017) “Estate Planning: The Family Limited Partnership Strategy”

Please visit our website to learn more about the benefits of creating a family partnership.

Funeral Fundamentals: You Can Trim Expenses

Funeral planning provides an opportunity to save money and spare your heirs the confusion and added stress of guessing what you may have wanted.

Death and money: they are two things that we like to pretend don’t matter and hate to talk about.  Therefore, what better way to tackle them both than a conversation about planning your funeral? An article in gobankingrates.com, “7 Money Secrets about Dying That No One Wants to Talk About,” provides useful information on what to expect when planning a funeral and some tips on keeping funeral costs to a somewhat reasonable level.

Funerals Can Be Darn Expensive. Funerals homes charge about $6,000 for funeral services, and you'll pay an additional $2,000 for burial, $1,000 for a grave marker or $2,000 for a headstone. That adds up to $10,000 or more. Your family could also spend even more, if you don't put your final wishes in writing and discuss them with your family. The high cost of a funeral you didn’t want, could put your family in debt.

Look at Less Expensive Funeral Options. It’s hard to be sensible and objective when you're dealing with the emotional stress of a loved one's death. However, there are differences in prices. You can find this information online. Do some comparison shopping for your family and tell them which funeral home you prefer.

A Funeral Package Deal Isn’t Always a Great Deal. A funeral home might offer a package, but you may not want or need everything that's included in it. Look at your options because funeral home pricing is dependent on the services provided. You can also buy the grave marker, headstone or casket online directly from wholesalers or distributors, which can cut costs.

A Traditional Funeral Isn’t the Only Option. Don’t feel pressured into having a traditional funeral for yourself or your loved one, especially if you can't afford it. The difference between a full traditional burial and a cremation can be $7,000, with the additional services required.

Prepaid Funeral Policies. Funeral homes and insurance companies offer prepaid funeral policies. This sounds like a good way to save your family money on your funeral costs, but you can spend more on premiums than the policy will pay at your time of death.

Planning your own funeral is not as much fun as planning a vacation, but not planning will leave your family at the mercy of funeral homes and their price structures. To cover all of your bases, sit down with an estate planning attorney to prepare your will and other estate planning documents. This way, all of your end-of-life business is completed, and you and your loved ones can focus on enjoying living.

Reference: gobankingrates.com (March 14, 2017) “7 Money Secrets about Dying That No One Wants to Talk About”

Please visit our website to learn how preplanning your own funeral should be part of your estate plan.