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Document Id : 6093
File Type : Microsoft Word
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Prepaid Funeral Deposit Agreement
Prepare a Prepaid Funeral Deposit Agreement with this customizable template.
The Agreement is made between a provider of funeral services (such as a funeral home) and a financial institution which will act as trustee and will hold and administer deposits paid by customers of the funeral service provider who wish to pre-arrange and prepay for funeral services.Provisions of the Agreement include:
- how deposits are to be made and held on behalf of the customers;
- record keeping and monthly statements to be prepared by the trustee;
- investment of deposit funds;
- procedure for withdrawing deposits;
- the trustee has no fiduciary duty to customers of the funeral service provider;
- assignment of funds to a third party in the event of a sale or transfer of the business;
- the trustee is responsible for providing tax information as required;
- indemnification of the trustee by the funeral home;
- termination of the agreement by either party.
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