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Consumer’s Checklist
For Prefunding A Funeral
Have you chosen to preplan and prepay for your funeral?
Are you thinking of doing so? |
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The decision to preplan your funeral is a loving
gesture for those you leave behind and, at the same time, helps
you to ensure that your personal wishes are carried out. Be assured
that those who choose to prefund funerals in New York State are
protected by the strongest laws in the nation.
The New York State Funeral Directors Association
commends you on considering this important life choice of prefunding
your funeral and offers the following "Prefunding Checklist"
for your use. This list can help you feel completely confident in
your prefunding decision:
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Prefunding Checklist
- Did you receive a copy of the funeral
home's General Price List?
- Did you receive a copy of the Itemization
Statement and Preneed Agreement
you signed with the funeral home?
- If you are currently receiving or have
applied for Medicaid, did you sign an Irrevocable
Agreement? (By law, you must and this means any
money left over after the performance of the funeral will
be returned to the local Department of Social Services.)
- Did you receive a Confirmation
Statement of the money you left as a deposit within
30 days of that deposit being made?
- Was this deposit made within 10 days
of the date you signed your agreement?
- Does the name of the depository (i.e.
financial institution) appear on the confirmation?
- Was your money placed in an interest
bearing account or a government-backed investment, such
as U.S. Treasury bonds?
- If and when you make additional deposits
to this account, did you receive a confirmation statement
of such deposit?
- Did you receive an Annual Statement
(at year-end) of your account activity, including interest
payments? (The money is always yours and, therefore,
you are responsible for paying income taxes.)
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Remember:
- The money in this account is always yours and
may be transferred to any funeral home of choice.
- Upon written request, the funeral home must advise
you of the balance, including interest, of your account.
- If your account is Revocable, upon written request,
you may withdraw the principal and interest at any time without
penalty.
Always feel free to discuss
these items with your local funeral director.
You may also contact the New
York State Funeral Directors Association.
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©Copyright NYSFDA,
Inc. 2002
Granby's
Funeral Service, Inc.
4021 White Plains Road
Bronx, NY 10466
718-519-6047 |
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