Advice, please

[Embel]

The only thing I really need to figure out is the best way to make sure that some of that money is appropriately and safely earmarked for death expenses. But I appreciate all of the thoughtful answers. Thanks.

 

[crisi]

The only thing I really need to figure out is the best way to make sure that some of that money is appropriately and safely earmarked for death expenses. But I appreciate all of the thoughtful answers. Thanks.

I'd just throw it in a separate savings account. You won't get growth, but it will be earmarked and FDIC insured - plus if she decides she really wants to do something with it other than her funeral (like take a trip to visit her sister while they live - my mother in law) the money would be fungible. But in order to do that much, she needs to make some decisions about what sort of funeral she wants - does she want a $3k cremation with scattered ashes and a reception in your home (and do you want that?) - or does she want to spend all the money getting a plot overlooking a lake, a cherry satin lined casket, and a wake that would rival a New Jersey wedding.

 

[JandJ]

The only thing I really need to figure out is the best way to make sure that some of that money is appropriately and safely earmarked for death expenses. But I appreciate all of the thoughtful answers. Thanks.

Getting your mom's wishes on paper is the first place to start. Does she want a big funeral, with a viewing, and burial? Or does she want a simple cremation and a church service? A "full-blown" funeral could run $10,000 or more so, first, find out what your mom wants. Then, do a lot of research to find out how much you need to put aside. A savings account would work. Or a CD since she's young (in her 60's) and you probably won't need the money soon.

My parents both wanted to be cremated. We had funeral masses said for both and our church provided refreshments afterward. The family gave the church a donation as a thank you. My mom's death was unexpected and we just went with the local funeral home that we used for my grandma. The cremation was over $3,000. For my daddy, he had terminal cancer so we knew what was coming and had time to prepare. I found a local place that does all the cremations for all of the area funeral homes. By booking with them directly, and not going through a funeral home, we got the cremation for $500. That included the urn. You won't get the fancy office and the soothing music and "hand holding" you get at a funeral home, but I didn't need all that, so for us going to the cremation place directly was the best choice.