# Preneed trusting

A term used when buying funeral home.

The share of a prepaid funeral's price that must go into trust, and how fast it has to get there.

The commonly quoted seventy percent is one of three rates in a single sentence, and a merchandise-heavy book funds far more than that. Florida requires seventy percent of the price collected for all services sold and facilities rented, and one hundred percent for cash advance items. For each item of merchandise it requires the greater of thirty percent of the price or a hundred and ten percent of wholesale cost, deposited within thirty days after the month of payment. The same chapter treats the licensee as the trust's settlor and beneficiary and gives the customer no interest in it, while shielding the money from the licensee's creditors except the customer, the board and the department. A [change of control](https://searchspheresource.com/glossary/change-of-control) is subject to the licensing authority's disapproval, and the trust itself cannot move to a buyer without the written approval of the department AND the trustee. Those are two consents on one deal, and the statute says neither may be unreasonably withheld, which is a weaker thing than a veto and still a thing to schedule around.

Part of: Buying a Funeral Home (https://searchspheresource.com/guides/buying-a-funeral-home)

Source: https://searchspheresource.com/guides/buying-a-funeral-home/terms/preneed-trusting
Not dated: The same editorial definitions as the glossary, inside a trade.

Site index for machines: https://searchspheresource.com/llms.txt