Die Smart

When you buy a car, you know you're at a disadvantage dealing with the salesman, right? Think about it -- after all, he sells many cars per week, while you probably only buy one every few years, at most. Now imagine yourself at that same disadvantage, just after someone very close to you has died. You're despondent, you're not thinking all that well, and you're supposed to make smart decisions. Yikes!

That's the position many people are in when they have to arrange a funeral and burial. Don't let that be you, though. Here are some tips to help prepare you for that dark day, largely culled from the Federal Trade Commission's advice on the topic.

cremation; it can cost much, much less.The FTC has instituted a "Funeral Rule" that includes stringent requirements for funeral directors. They need to give you itemized price lists (so that you can cross out services or products you don't need). (For example, buying a "protective gasket" for the casket is silly. It can't prevent the body from decaying.) They need to accept any casket you may buy elsewhere (Costco (Nasdaq: COST), for example, is a good source for inexpensive caskets) -- and not charge you any extra fees to handle it.You can save a lot by opting for a "direct" burial or cremation, bypassing the traditional "full-service" funeral. With the direct option, the body is buried or cremated shortly after death in a simple container, with no viewing or service. No embalming is needed, either. A memorial service can be held at the burial, or any time afterward (such as several weeks later).When you choose a funeral home, consider comparison shopping first. You can collect itemized price lists from them over the phone or in person (and some might mail them to you). Note that these days, many funeral homes are owned by some big corporations, even if they've kept their original locally-known names. The big firms in this "deathcare" business include Service Corp. (NYSE: SCI) and Stewart Enterprises (Nasdaq: STEI).

Learn more in these articles:

Don't Bury Your MoneyThe Facts of DeathSave Money on FuneralsPrepare to Die

For many more details on these and related topics, check out this info from our friends at the Federal Trade Commission.

And to help you handle your financial life better, including advice on how to save hundreds of dollars in yearly expenses, try our Motley Fool Green Light newsletter service, where you'll find lots of personal-finance guidance and practical advice in each issue. A free 30-day trial will give you full access to all past issues.

© 2007 Universal Press Syndicate.