PRENEED FUNERAL COMPREHENSIVE QUESTIONS AND ANSWERS SET A.pdf

PRENEED FUNERAL COMPREHENSIVE QUESTIONS
AND ANSWERS SET A+
✔✔Third-Party Contracts - ✔✔Contracts involving vendors such as casket companies,
crematories, urn suppliers, and vault manufacturers.

✔✔Altering a Pre-Funded Contract - ✔✔Changes may void the contract depending on
its terms.

✔✔Importance of Reading the Contract - ✔✔Contract terms determine portability,
guarantees, alterations, and cancellations.

✔✔Unavailable Merchandise or Services - ✔✔Contract should specify procedures if
contracted goods or services become unavailable.

✔✔ At-Need Arrangements - ✔✔Funeral arrangements made at the time of death.

✔✔Pre-Planned Funeral Arrangements - ✔✔Funeral arrangements made in advance
that do NOT include funding or prepayment.

✔✔Pre-Funded Funeral Arrangements - ✔✔Funeral arrangements made in advance
that include funding or prepayment.

✔✔Trust Account - ✔✔A legal arrangement where property or money is held by a
trustee for the benefit of another until needed.

✔✔Settlor (Grantor/Trustor/Purchaser) - ✔✔The individual who establishes and funds
the trust.

✔✔Trustee - ✔✔The individual or institution that manages trust assets until they are
released.