My step-son died in a car accident this week, and we have tossed around the idea of a memorial fund for him. My idea of memorial fund is that money is collected and donated to something. Some of the family may think it should be used to pay for the funeral. I am concerned that some people may be mis-led as to where their money is going. Please help - we are deciding this today!
2007-01-04 02:20:49 · 3 answers · asked by msbuda 1 in Business & Finance ➔ Other - Business & Finance
Just for additional information, this was not a decision I was trying to make myself. I was trying to bring as much information to everyone so that we make the best decision possible.
2007-01-04 15:43:14 · update #1
Getting people to donate to pay for a funeral is not what I would consider to be a memorial fund. It should represent some charity or line of work that would honor the memory of your step-son, not save you a few bucks.
2007-01-04 02:23:41 · answer #1 · answered by Gene 3 · 0⤊ 0⤋
Memorial funds are generally donated to a charity or used to give a scholarship. In the former case, the charity usually has to do with his interests or the cause of the accident. If it's a scholarship, you put it in an investment fund marked for that (and you'd have to talk to an investment advisor to do this correctly.) In other cases, memorial funds are used to provide in part for the funeral, in which case you'd state that in very small letters - but some of it is also supposed to go to charity.
2007-01-04 02:23:51 · answer #2 · answered by Cobalt 4 · 0⤊ 0⤋
This will have to be a family decision. Nothing is set in stone as to whats its to be used for. If the family cant afford the funeral expenses then by all means, use it to help pay and lift the burden from the family. I think you should leave the decision up to the biological family you were his step mom, although I feel for your loss, I dont think its your place to make this decision. I sure wouldnt with my step kids.
2007-01-04 02:27:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋