Affordable burials nearly dead

In 1960, it cost around $700 to bury someone in the U.S. Now, prices are tenfold, averaging $7,000 in 2012.

Bloomberg reports that cemetery space will continue to rise in cost, as demand will overtake supply.

In Brooklyn, NY’s Green-Wood Cemetery, a 756 square-foot mausoleum site can cost upwards of $320,000.

Read: Discuss final expenses before it’s too late

Because of the rising price of land, cremations are becoming a more popular choice.

You can purchase an urn-sized concrete niche 10 rows up from the ground for 320 euros in Italy. Or, you can put your loved one’s ashes in an underground vault in Japan, and use a swipe card to call them up when you visit.

Read the story here.

Also read:

Why prepay the funeral?

When there’s no will

Prevent estate battles

Don’t delay planning

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.