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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

You’ll avoid extra grief later by planning funeral now

United Press Syndicate

It’s smart to plan for your death and the deaths of loved ones now — when you’re not engulfed by grief. Here are some tips:

“ Record everyone’s wishes. If you know that Grandpa wants a simple pine casket, you won’t have to guess about it later, perhaps opting for something expensive just to be safe.

“ Consider inexpensive caskets. Bodies will decay in any casket, and casket costs vary widely, from several hundred to many thousands of dollars. (A $3,500 casket may have cost the funeral home just $700 wholesale.)

“ You don’t always have to buy a casket from the funeral home. You can buy a good one from a discount vendor and have it delivered to the funeral home — which is likely required to accept it. Even Costco sells caskets now.

“ Embalming usually isn’t required, except for open caskets. Someone might try to talk you into paying for it, though, for hundreds of dollars.

“ Beware of the recommended rubber gasket (aka “protective sealer”) that, according to some sources, costs just dollars to make but is sold for several hundred dollars. It’s pitched as protecting the body from decay, but nothing can stop decay.

“ Think twice about grave liners and vaults. Their “protection” often doesn’t last long.

“ Don’t tell funeral directors more than you need to, such as the deceased’s net worth or insurance coverage.

“ Consider cremation, which is usually much cheaper. (Remember organ donation, too.)

“ Take a non-grieving friend with you when you talk to death-care providers.

“ You can save money by employing a personal touch. You can build and decorate a casket yourself, instead of buying one. You needn’t use a funeral home’s viewing room, either — a loved one can “lie in honor” in a home, community hall or church.

Get more information and guidance at www.funerals.org and www.ftc.gov/bcp/conline/ pubs/services/funeral.pdf, and from helpful books such as “When Death Occurs” by John M. Reigle (Consumer Advocate Press, $20) and “The Profits of Death” by Darryl Roberts (Five Star, $18).

My dumbest investment

In February 2004, I purchased a Sony television from a retailer and was offered a “no money down, no interest through June 2005” deal from Sony Financial. How could I go wrong, I reasoned, and promptly invested the money I would have spent on the TV in the stock of United Rentals Inc. It had just come out with bad earnings results, the stock price had dropped, and I considered it undervalued at $16.92 per share. In June 2005, I sold the stock, which had risen to $20.13 per share, at a net profit to me of more than $400. I immediately paid off the television in full, only to receive a bill for $843. I was told that I had missed the payoff date and all the interest was back-billed at a hefty 21.99 percent. My net loss: $443. The moral: Consumers, beware of financing deals that sound too good to be true!

P.S. The television is still working great! — Tom Ganley, Colchester, Conn.

The Fool Responds: At least your stock increased in value — otherwise you’d have been hit with a double-whammy.

Thanks for the lesson.