Burying a Loved One

Of all the unexpected expenses a bookseller faces, funerals can be one of the toughest to find help paying for. There is little public assistance available to help loved ones afford the financial burden of a funeral. Whether a bookseller is dealing with the loss of a child, spouse, parent, or sibling – they often don’t have enough savings to meet the expenses of a funeral. Because of the emotional stress, funeral expense requests are some of the most emotional requests for assistance that we receive at Binc.

Today, the average North American traditional funeral costs between $7,000 and $10,000. This price range includes services, burial in a cemetery, and installation of a headstone. While this is the average, funeral costs can vary widely depending on location. Even a simple cremation can cost $800 – $1,000, which is still an amount beyond the means of many booksellers.

Resources such as the FTC Funeral Rule can help keep costs down by making it possible for you to choose only those services you want, whether you are making arrangements when a death occurs or in advance. The Rule allows you to compare prices among funeral homes and makes it possible for you to select the arrangements you want at the facility you use.

There is a very limited amount of government assistance available, with one-time payments of $255 from Social Security, or $300 – $600 from the Veterans Administration. Which is obviously not enough to cover all of the expenses.

Paying funeral expenses from an estate (should one exist) presents its own set of obstacles. Funeral expenses can be paid with assets from an estate, but because of the legal process in most states, the funds will not be available immediately when needed. Most funeral homes require payment at the time that funeral services are provided, this often means that someone will need to cover the expenses up front and then be reimbursed from the estate. Again, this creates a problem for a bookseller living on a tight budget.

A U.S. News & World Report article stated that affording funeral expenses is a serious problem that seems to have grown worse over the years and one that spiked during the recession. So what does one do if there is no money for a funeral? If you lack the funding for a funeral, here’s what some experts say your options are.

  • CrowdFunding – GoFundMe, one of the largest fund-raising sites, says that 13% of its campaigns created in 2017 were described as memorials, which include funerals and are one of the company’s fastest-growing categories.
  • Local churches sometimes have funds set aside to help with funerals.
  • Some states have limited assistance available. Assistance for burial or cremation and the criteria for eligibility vary widely from state to state.
  • If you are a bookseller, and you are financially responsible for the funeral expenses of a family member, you can apply to the Binc Foundation for assistance.
    • Binc may be able to help with an assistance grant to cover basic burial expenses.
    • Binc can offer a Matching Grant of up to $2,000 to match funds collected through a GoFundMe or similar campaign used to raise funds for funeral expenses.

The loss of a loved one is traumatic enough, at Binc we want to help keep debt from making the situation even worse.

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