PREFUNDING A FUNERAL

• In addition to a signed Statement of Funeral Goods and Services given by the funeral home at the time of payment, all moneys paid during a person's lifetime to any individual, firm, association, partnership, or corporation engaged in performing funeral services by such person or by someone in such person's behalf, shall be deposited by the payee within 30 days after receipt in a separate account in a qualified financial institution in this state in the name of the payee as mortuary trustee for the person for whose benefit the payment was made, and shall be held in such account together with any interest accrued.

• A copy of a written receipt or statement of deposit issued by the qualified financial institution shall be sufficient as evidence of deposit or transfer for the purposes of this section. For purposes of this section, a mortuary trustee shall include any person or organization holding money in trust in connection with a prepaid funeral.

* The full statute regarding prefunding can be found at: Section 325:45 Funds to be Deposited.