She also made me promise to use money in our joint bank account to supplement whatever costs the insurance policies didn t cover. If that doesn t work for you, try putting the money in a certificate of deposit specifying it is to be used for funeral costs. It is so thoughtful to preplan your funeral. But just think carefully about prepaying for it. You might give your family more peace of mind by keeping control over your money.
States have different requirements for handling funds paid for prearranged funeral services.
Some prepaid funeral plans can be transferred, but often at an added cost. Some plans can t be transferred at all. It s time for my Penny Pincher of the Year contest. All you have to do is nominate yourself, a friend or a relative with an original penny pinching strategy. Edited versions of entries may be published.