Want to plan your funeral now? Want to be sure that your family doesn't have to pay for your funeral? You can pre-plan your own funeral and pay for it in advance. Consumers in New York who prefund their funerals have their money protected by what are truly the strongest preneed laws in the nation. These laws require that 100% of such funds be deposited in an interest-bearing, government backed trust account where the principal and interest earned remain the property of the consumer. The purchaser remains in control of the preneed account. If the account is revocable, a purchaser may request a full refund of the principal and interest earned at any time, for any reason, without penalty. The purchaser may also select a new funeral home at any time. New York State law also mandates full disclosure to the consumer by requiring that written statements be sent containing information on the funds deposited to date, where they are deposited and interest earned.
Are There Advantages to Prearranged Funerals?
Yes, With a guaranteed funeral, the funeral home guarantees to provide the services, merchandise and facilities you selected for the amount of money in your account. The guaranteed funeral is not affected by future price increases since the funeral home accepts the principal and interest as payment-in-full. Your estate will not have to pay anything extra for those items that are guaranteed.