When a loved one passes away, funeral arrangements are often discussed and arranged before the estate administration process has been sorted. As a result, cash flow can be problematic. However, as most banks are aware of this problem, invoices from the funeral directors can usually be paid directly from the deceased’s estate.
Whilst this provides a solution to the funeral itself, the cost of any wake is not automatically deducted from the deceased’s estate. Whilst this may be resolved if all beneficiaries agree to the cost of the wake being removed from the estate, disputes can arise preventing this from being the case.
There have been cases when families have disagreed regarding the wake for their loved one. In one case, half of a family wanted to put on a lavish, expensive wake however the other half disagreed owing to the fact the deceased had told them that she wanted a simple low cost wake. Without the agreement of all the beneficiaries, the money was not able to be deducted from the estate and therefore the cost of the wake was born by the family themselves.
To avoid this, it is recommended to make your funeral wishes clear in your Will. Whilst these are just wishes and not legally binding, it does give your loved ones an indication of what you would have wanted. As well as this, we recommend having the discussion with your family as well as leaving a letter stored with, but not attached to, your Will.
If you would like to meet with one of our Consultants to discuss any of the issues raised here or any other Estate Planning topics please telephone 01732 868190 or click here.