My Dad has just died. Only five weeks ago he was diagnosed with pancreatic cancer, and he died on Friday the 23rd June. He fathered six children. Myself, the oldest and my brother Greg who was killed in a motorbike accident in 1984, just 22 years old. He married a second time and fathered a son. He married a third and last time and fathered three daughters. His youngest child is 18 and still at school. The other two are in good relationships and have little children. My father lived with his wife, their 18 year old daughter, and his wife's parents, the father who had a stroke 18 months ago and is bedridden.
My father had no assets, they live on a property that they pay the mortgage on but it is in my sister and her husband's name - it is their second mortgage, so they are liable for this property as well as their family home.
My husband and I offered to pay for the funeral which would have cost $1,500 if we had purchased a prepaid plan five weeks ago. However, five weeks ago, it was too distressing to talk about and I thought we had more time so we did not talk about the implications of a burial. So the burial cost us $6,800. We have divided the cost in four. My concern is that they have no savings and they may well need that extra money down the track for the mortgage repayments.
My Dad was 69 years old. His wife is 51 years old. He died with no assets, a personal loan of $11,000 and no one really knew his wishes. His wife dictated that he would be buried, not cremated but his children picked up the cost. He made no provision. My husband and I are now looking at funeral plans, and my Mum is glad she has enough savings to cover the cost of her funeral. Have a plan and ensure that it is your money that will pay for it, not your surviving families!!!