Funeral costs
 

Thinking ahead,since I am going to be resident here until my demise I was wondering how much money I need to put aside to cover the total cost of my departing.
Hungarians seem to have a weird attitude to death and are not even willing to discuss the subject, as if not thinking about it will somehow stop it happening.

Well since it certainly is going to happen and probably not that far in the future if my decidedly unhealthy lifestyle is as disastrous to longevity as the medical profession insist it is. I am trying to organise things not to make any more work or distress than necessary for those left to clear up my absconding in the case it may occur abruptly.

Re: Funeral costs
 

You're right about attitudes & lack of info!

Best I have found so far is an average of 2 million, though I also saw it can be done for as little as half a mil!

Although I have an insured sum, I have told the relatives that if they want the house they can damn well pay for my funeral - bargain!

Re: Funeral costs
 

Although there is no "one funeral cost fits all" scenario in Hungary, expect to pay around £1,000 (357,000+ HUF) for an 'average priced' basic funeral. It really depends on what type/size of grave you want (i.e. size burial space), coffin or cremation, and what the funeral parlour fees would be for example.

Re: Funeral costs
 

Alternatively Duztee, because we know you like to save money - for the cost of a good night out we'll sling you in a canoe and send you to Valhalla (well, the Black Sea) in a blazing pyre!

Re: Funeral costs
 

Looking at your rates I don't think you give much for Duztee's chances of longevity beyond 2018! :lol:

Re: Funeral costs
 

Not at Szeged's rates!

Re: Funeral costs
 

Depends where you want to be buried or cremated. In Hungary or UK?

Re: Funeral costs
 

If you die without assets in Hungary then the council has the liability of the burial. I suppose this would be a paupers burial and this comes in at about 100,000huf. So that would be the bottom line price. Cremation is cheaper than burial. So from this base price the cost goes up the more elaborate the service, so either you note down what you want and so leave instructions or you leave it to your relatives to spend what they want (don't forget that there are no pockets in a shroud!)

The custom here is for the close relatives to go to a restaurant after the event to celibate the life of the deceased and this is usually paid for by the estate of the deceased.

Whilst on the subject not many people in Hungary bother with a will as the law lays down what should happen if you die intestate, lots of people are happy with the official provisions and it is all fairly straight forward (unlike the UK). However if you are not Hungarian it would be best to have a will to avoid problems for those left behind. If you have assets in the UK then you definitely need a will and if you have assets in both countries then you need 2 wills, one covering UK assets and the other covering Hungarian assets. Either will can cover world wide assets and any will must be unambiguous as to what is covered. (But if you use your UK will to cover world wide assets then they will be subject to UK IHT)

Probate here is done by a public notary (suitably authorised) and is usually a fairly quick (and cheap) affair (again unlike the UK)

There is no IHT to immediate family, so children, grandchildren or parents inherit without any IHT. Once you step outside the direct line (siblings, cousins etc.) IHT kicks in at an increasing rate the further away from the direct line you get.

Re: Funeral costs
 

Can't imagine Hungarians being that austere!

Re: Funeral costs
 

See! you really ask anything here and get the perfect answer, where would I be without such good friends!
The Black Sea and cremation will be fine, just not Ballaton please, still can't find anything appealing about the place, but then I will be dead so what do I care!

Re: Funeral costs
 

Good clear pricise advice as always Peter, Thank you.
But if either Will will cover world wide assets then surely that means Hungarian assets could be covered by the world wide aspect of an English Will?

Re: Funeral costs
 

JUst wondering then if a Hungarian will would be enough? I won't have anything left in the UK within 30 years time. I have no close family other than the wife and kids so should be very straight forward!!

Re: Funeral costs
 

Nothing in UK so we did a Hungarian Will.

Re: Funeral costs
 

Yes it could but Hungarian probate is quicker and cheaper than in the UK and IHT is simpler if everything is left to the family line also I was advised that UK probate dealing with Hungarian property/assets will be a time consuming and expensive affair. Much simpler and cheaper to separate the Hungarian and UK assets with 2 wills.

Re: Funeral costs
 

Makes sense, thank you for clarifying.