Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What are trust monies, and how can they be invested?

April 26, 2017invested monies Trust

0

Posted

What are trust monies, and how can they be invested?

1 Answer

0

Posted

Trust monies are funds set aside, and the income is used to preserve cemetery grounds. Trust investments are regulated by the Estates, Powers, and Trust Law of the State of New York. The law requires that cemeteries entrusted with trust monies ensure that the principal shall not be lost. Securities may take the form of interest-bearing bank accounts, certificates of deposit, stocks, and/or bonds.