Often, my clients aren't that interested in leaving a legacy - much as the trend in this chart suggests. But what ALL of clients say is that they certainly don't want to leave a bill!
Life insurance can help here. And we're not talking about leaving a million dollars, but insurance can provide the quick liquidity to pay final expenses and other needs.
I've also heard that people will say that the Executor or spouse can just use the money in the deceased's bank account. If that account isn't titled properly, you're looking at months - yes, months! - before you're allowed to access the money.
And the funeral home wants to get paid. And a body laying around that long can get kind of messy...
I heard of a case - seems extreme but could be common - that a family had their relative cremated. But the funeral home held on to the ashes until they get fully paid. So the family didn't have a proper burial for quite a while until they could pay the bill!!!
What do you think? Are you interested in leaving a legacy or just not leaving any bills? Share your thoughts below!
