10.2.1 Final Expenses
If the client already has a life insurance policy, what is the value?
Estimate how much is needed for final expenses.
- Burial and funeral expenses
- Administration expense
- Estate tax
- Any type of installment debt (current monthly bills)
- Medical or last illness expenses
If the client leaves a family behind who is dependent upon him, they will need such things as:
- home mortgage or rental allowance;
- education expenses;
- monthly income; and
- unforeseen emergencies.
Estate settlement needs would include:
- burial and funeral expenses;
- administration expense;
- estate tax;
- any type of installment debt (current monthly bills); and
- medical or last illness expenses.
