Positive Ageing Planning To Meet Funeral Costs

Many people set aside funds to pay for their own funeral and there are various ways of doing this.
One option is to make an arrangement with a funeral director of your choice.

This is usually done by setting aside an amount sufficient to cover the costs of a funeral at today’s rates.
Those funds are then invested in a funeral trust by the funeral director.

There are a range of pre-pay funeral plans on the market. In some plans, any funds left after the funeral costs are met may remain the property of the plan provider. Ensure you are clear about the terms of your contract before signing.

It’s also possible to set up a trust yourself for the express purpose of paying for your funeral.

There’s an upper limit on the amount that may be put into a funeral trust. However any unused funds, once all funeral-related expenses are met, will then go into your estate to be distributed under the terms of your will. Seek advice from your lawyer or accountant.

If you are setting up your own funeral trust, remember that in Marlborough plots cannot be pre-purchased in the public cemetery.

• An MDC cemeteries clerk can help with enquiries about burials within Marlborough, Ph: 03 520 7400. There is more information about Marlborough cemeteries on the Council website
• WINZ may be able to help in some cases with a Funeral Grant for “actual and reasonable” funeral costs, although there is a ceiling. This is subject to an asset and income test. More information Ph: WINZ 0800 559 009.