by KYW's Salil Gutt

The national average cost for a funeral is $6,500.  Understandably, many of us are reluctant to face death like a smart shopper.  However, failure to do so could result in final costs ballooning out of control.

It is very important to develop your own funeral plan that reflects your wishes and financial reality. Here are some tips. 

All funeral homes are subject to a federal consumer law that went into effect in 1984. It is called the "Funeral rule".  Under this law, funeral homes must fully disclose all prices in writing and terms and conditions about both funerals and cremations. Also, don't overlook the internet as a source. 

Many of us use pre-paid funeral plans or buy insurance policies to pay for a funeral. Both of these are bad ideas. It is better for you to open a payment-on-death account at your bank. This is also known as a Totten Trust. This funeral fund is paid on death to a designated beneficiary outside of the probate process. Also it is portable in that it is still around if you were to move out of state.