- 14 - those goods or services will be furnished at time of death; or 4. The buyer has declined to select a funding method and has paid no money to the funeral establishment; [Mass. Regs. Code tit. 239, sec. 4.03(1)(d) (2003).] A “funeral trust” within the meaning of the foregoing provision is “a written agreement of trust whereby funds are transferred to a named trustee with the intention that the trustee will manage and administer those funds for the benefit of a named beneficiary and use those funds to pay for funeral goods and/or services to be furnished to that named beneficiary.” Mass. Regs. Code tit. 239, sec. 4.01 (2003). Cancellation rights likewise are specified in the regulations, as follows: Any buyer of a pre-need funeral contract may cancel that contract and receive a full refund of all monies paid, without penalty, at any time within ten days after signing said contract. After the expiration of this ten-day “cooling off period” a pre-need funeral contract may be canceled in accordance with 239 CMR 4.06(8). [Mass. Regs. Code tit. 239, sec. 4.05(1) (2003).] The referenced Mass. Regs. Code tit. 239, sec. 4.06(8) (2003) reads, in pertinent part: The buyer who signed a pre-need funeral contract, or his/her legal representative, may cancel a pre-need funeral contract with a licensed funeral establishment at any time by sending written notice of such cancellation, via certified mail, return receipt requested, to said funeral establishment. If a funeral trust has been established to fund said pre-need funeral contract, and the licensed funeral establishment is not the trustee, the buyer shallPage: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Next
Last modified: May 25, 2011