What are Guaranteed and Non-Guaranteed Contracts?
A “Guaranteed” Contract means that the cemetery or funeral home guarantees to provide you with the services and/or merchandise you selected for the amount of money stated in the contract. This means that you or your estate will not be required to pay any additional costs for the items guaranteed, except for unexpected charges incurred (which may include, for example, the need for shipment of remains from a distance). If the contract does not guarantee the prices charged it must be clearly identified as a “Non-Guaranteed Contract.” The amount you pay will be determined at the time the services and/or the merchandise are needed. Any amount you pay pre-need will be considered a deposit to be used toward the purchase price, which will earn interest. Consumer Payments on Pre-need Services and Merchandise Must be Placed in a Trust Account. When you purchase pre-need services and merchandise, the seller must place a certain percentage of the costs of the purchase price in a trust account to e
