By Jim Miller

Dear Savvy Senior,

My husband and I are looking for the simplest and least expensive way to dispose of our bodies when we die. We hate the idea of wasting a lot of money on high-priced funerals and would like some advice on some simple and cheap send-offs.

Simple Seniors

Dear Simple,

With the average cost of a full-service funeral running around $11,000 today, many people are seeking simple ways to make their final farewell more affordable. Depending on how you want to go, here are several low-cost options to consider.

By Jim Miller

Dear Savvy Senior,

My husband and I are looking for the simplest and least expensive way to dispose of our bodies when we die. We hate the idea of wasting a lot of money on high-priced funerals and would like some advice on some simple and cheap send-offs.

Simple Seniors

Dear Simple,

With the average cost of a full-service funeral running around $11,000 today, many people are seeking simple ways to make their final farewell more affordable. Depending on how you want to go, here are several low-cost options to consider.

By Jim Miller

Dear Savvy Senior,

What are the rules regarding inherited IRAs? When my mom died this year, I inherited her traditional IRA and would like to know what I need to do to execute it properly.

Confused Daughter

Dear Confused,

I’m very sorry about the loss of you mother. Inheriting an IRA from a parent has a unique set of rules you need to know, which will help you make the most of the money you inherit and avoid a tax-time surprise. Here are some basics you should know.

Set-Up Inherited Account

Many people think they can roll an inherited IRA into their own IRA. But if you inherit an IRA from a parent, aunt, uncle, sibling or friend you cannot roll the account into your own IRA or treat the IRA as your own. Instead, you’ll have to transfer your portion of the assets into a new IRA set up and formally named as an inherited IRA – for example, (name of deceased owner) for the benefit of (your name).