Original Article: https://www.startdoingwell.com/resource/after-death-expenses-usa
Living in America can come with a hefty price tag, and unfortunately, so can passing away in this country. Whether you opt for a traditional burial with a casket or choose cremation, the costs can be significant.
According to a recent study by the National Funeral Directors Association (NFDA), the median cost of a funeral with casket and burial has increased by only 5.8% in the last two years (from $7,848 to $8,300). Meanwhile, the median cost of a funeral with cremation, including an alternative cremation casket and urn, has seen an 8.1% increase over the same period (from $5,810 to $6,280).
Here’s a look at how much it costs to die in the US.
What does the final bill of death look like?🧾
Dying costs fall into 3 categories:
⚰️ Funeral Fees: Basic service costs from funeral homes, embalming, casket, and the viewing ceremony.
💊 End-of-life Expenses: Medical costs like hospital stays, tests, and medications before death.
💰 Logistics: Legal and financial costs related to settling the deceased’s estate.
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| Component | Average Cost (2023) | Percentage in Total Cost of Dying |
|---|---|---|
| Funeral Fees | $8,300 | 24.41% |
| End-of-Life Expenses | $18,751 | 55.15% |
| Logistics | $6,950 | 20.44% |
| TOTAL | $34,001 | 100% |
Breakdown of average funeral costs ⚱️
Here is the funeral cost checklist included in the median funeral expenses in 2023, according to the NFDA:
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| Item | Cost |
|---|---|
| Funeral home’s standard service fee (non-negotiable) | $2,459 |
| Transportation to funeral home | $395 |
| Embalming | $845 |
| Preparing the body through makeup and hair styling | $295 |
| Facilities and personnel for overseeing a viewing | $475 |
| Facilities and personnel for overseeing a funeral service | $550 |
| Hearse | $375 |
| Use of service car | $175 |
| Basic memorial printed package | $195 |
| Metal casket | $2,500 |
| The average cost of a funeral, including viewing and burial | $8,300 |
| Vault | $1,695 |
| Cost with vault | $9,995 |
Does life insurance cover funeral costs? 🤨
Any life insurance policy can help with funeral expenses. It’s a reliable way to cover final costs, including medical bills and burial expenses. One example is final expense insurance, a type of whole life insurance designed to cover end-of-life expenses like medical bills or burial costs.
Having enough life insurance coverage is one of the things you need to prepare for in life. Make sure to have a policy review with your agent every year to confirm you have the correct coverage amount.
Which states have the highest costs of dying? 💼
See which states top the chart for the priciest end-of-life expenses.
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| US State | Average End-of-Life Expenses | Average Funeral Fees | Average Total Cost of Dying | Inheritance Tax | Estate Tax |
|---|---|---|---|---|---|
| Alaska | $24,408.38 | $9,333.79 | $33,742.17 | NO | NO |
| Hawaii | $19,292.07 | $13,430.46 | $32,722.53 | NO | None on the first $5.49M |
| Massachusetts | $18,347.02 | $11,134.52 | $29,481.55 | YES | YES |
| New Hamspshire | $19,650.54 | $8,628.51 | $28,279.05 | NO | YES, for estates larger than $2M |
| Washington | $19,520.19 | $8,636.01 | $28,156.20 | NO | YES |
Where are the costs of dying less expensive? 🪙
See which states have the lowest costs for end-of-life expenses.
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| US State | Average End-of-Life Expenses | Average Funeral Fees | Average Total Cost of Dying | Inheritance Tax | Estate Tax |
|---|---|---|---|---|---|
| Mississippi | $11,739 | $6,568 | $18,307 | NO | NO |
| Oklahoma | $12,016 | $6,722 | $18,739 | NO | NO |
| Arkansas | $12,154 | $6,800 | $18,954 | NO | NO |
| Kansas | $12,168 | $6,808 | $18,976 | NO | NO |
| Missouri | $12,307 | $6,885 | $19,192 | NO | NO |
It’s crucial to understand the costs your family may face when you’re no longer around. Lean on Doing Well for clear guidance and support—ensuring they’re not alone in preparing for the future. 💼🤝
Preparing ahead
The financial aspects of end-of-life planning can be challenging, but planning for the inevitable is crucial to alleviate potential burdens on your loved ones. With Doing Well, we can help you prepare for a well-planned financial future.
With Doing Well, you can expect:
- Comprehensive analysis and planning of potential end-of-life expenses
- Expert advice on funeral and burial options, including cost-saving measures
- Legal assistance with estate settlement and probate processes
- Guidance on setting aside funds or purchasing insurance to cover these costs
- And more!
Preparing for the financial aspects of dying is an act of love and responsibility. It ensures that your loved ones can focus on healing and remembering rather than being burdened with unexpected expenses and decisions. Our team at Doing Well is dedicated to helping you plan for these moments, offering peace of mind for you and your family.