There is never a good time to lose a loved one. The feelings of grief, turmoil, and pain is a universal human experience but not one we can brace for or prepare ourselves to feel no matter how hard we try. Following their death, it’s easy to feel ill-equipped and frustrated. After all, how are you expected to tie up loose ends and move forward with life?
We can give helpful pointers and guides to those struggling amid loss and grief. Here are a few ways to lessen the weight of the financial expenses after you lose someone.
Step 1: Getting CCOD and Death Certificate
A CCOD, otherwise known as a Certificate of Cause of Death, is a simple document which is filled out by a licensed medical professional which certifies an individual is deceased and passed from natural causes.
Meaning, the body shuts down because of old age or a heart attack or a known illness such as cancer or dementia. However, the cause of death cannot be from external forces like murder or suicide, which are not deemed as natural causes.
While working on getting a CCOD, it’s best to begin the talks with a funeral director so they can ease the burden of planning a funeral while you’re working on tying up loose ends.
Once you’re ready, proceed to getting a death certificate, which is the official document declaring the passing of your loved one. You’re able to register a death at a police divisional headquarter, neighbourhood police, or the registry of births and deaths. Don’t forget to bring the CCOD, your loved one’s identification, and know beforehand how the body will be placed for final resting (either cremated or buried).
Step 2: Planning a Funeral
While some decide against hosting a formal funeral, many want to have one last moment to say goodbye. As mentioned, there’s different funeral arrangements between cremation and burials with varying costs.
Depending on what kind of funeral it will be, the price can range from $1,300 to $8,400. Some indicators of costs are the casket, embalming, photos, floral arrangements, obituary in the newspaper, and travel expenses.
Step 3: Considering CPF Savings
Chances are, your loved one has a CPF, meaning their CPF savings will be distributed to their nominees according to the proportions they left. According to Are You Ready, “ If the nomination is valid, the CPF Board will contact the nominees on the distribution of the CPF monies within 15 days from when the Board is notified of the death.”
This distribution includes: *
- Balances from the Ordinary Account, Special Account, MediSave Account and Retirement Account (if applicable)
- Any unused annuity premium from CPF LIFE
- Remaining Retirement Account savings deposited with a participating bank or used to buy an annuity from an approved insurer
- Discounted SingTel shares
Summary
Give yourself plenty of rest and grace during this time period. Grief is a hard emotion to work through and there is no right or wrong way to grieve.
Continue to follow our blog as we share more financial information and ask questions if you have them.
Resources used:
https://www.areyouready.gov.sg/YourLifeEvents/Pages/Losingalovedone-Settling-Matters.aspx
https://singaporelegaladvice.com/law-articles/death-registry-autopsy-funeral-expenses-singapore/