The Competition and Markets Authority (CMA) has recently released a report detailing the inflation in price for funeral and crematoria services – an inflation that has been labelled ‘unjustified.’

Below is a summary of the key figures the CMA have identified, along with potential factors to look out for when planning a funeral:

  • The average expense for a funeral is £3,000 – £5,000, with the price of essential elements increasing by more than two thirds within the last 10 years.
  • Unfortunately, at periods of distress it is easy to lose sight of costings and it may be distressing to ‘shop around’ for the most fairly priced funeral director. Talking things through with a support network or professional before making decisions may help you to save over £1,000.
  • The report has highlighted that larger chain funeral directors have historically introduced policies of consistently high price hikes.
  • Fees charged by crematoria have increased by 84% on average in the last 10 years.

Sadly, those experiencing mourning are often vulnerable to exploitation. As ever, planning and research are key to ensuring you are not at risk of this. Moreover, this goes to show that it is increasingly important to detail your funeral wishes (if any) within your Will so that your loved ones can be left with as easy a ride possible, logistically, where organising the funeral is concerned.

If you require any advice with such preparation, then please do not hesitate to contact one of our professionals on 01903 231545 or steve.wright@thefrygroup.co.uk.

This entry was posted on Monday, 3rd December 2018 at 2:57 pm and is filed under Estate Planning. You can follow any responses to this entry through the RSS 2.0 feed.