The Just Thought I'd Share Thread

[MacShadowsBall]

Originally Posted by MacShadowsBall

My grandmother is in very poor health and most likely will pass before Christmas. She gotten worse of the past six months, being transferred to hospice care at the nursing home.

Her Power of Attorney woman (can't stand her but anyway) told me and my mom last night that there is only $2500 of life insurance money available! She has basically said it's up to us.

I don't know what to do about all this. We have a very small family just me, my mom, her brother/wife and their son/daughter, none of us have the money to cover the rest needed. Funerals are around $5000 - cheaper if you cremate, which my mom has said no chance in hell that will happen.

Originally Posted by HomerMcvie

I'm sorry to hear this.

I think you're underestimating the cost of funerals. In January, it will be 10 years since my Mom passed. We didn't "overdo" anything, and I think it was $6800. I remember the $6800 figure, because Mom only had 5K in insurance, and I remember paying the balance. Again, that's 10 years ago. I do know that cremation is cheaper, but I'm not sure by how much. I know that they have "rental caskets", if one is desired for a service, pre cremation.

Sorry you're going through this, and hopefully she won't suffer.

Thanks HomerMcvie,

She passed away yesterday around 12:30 pm. The funeral home seems willing to work with the $2500, but they need an additional $1,000 upfront for the opening and closing of the grave. We aren't doing cremation - that has been decided. No visitation or funeral just a small graveside service. My mom and I, along with my pastor, her brother/wife and the POA are going in tomorrow at the funeral home to discuss the arrangements/finances.

I'm considering taking a loan from my 401K to cover the $1,000. No penalities, 4.25% interest, as long as I pay it back by the end of 2013. Seems better than depleting my modest savings or using my 17% credit card!