Washington SB5016 regulates prearrangement funeral service contracts, requiring trust funds to be held separately and detailing refund policies.

Washington SB5016 updates the requirements for prearrangement funeral service contracts. It mandates that at least 80% of the cash purchase price, excluding sales tax, must be placed in a trust account within 20 days of payment. The bill outlines conditions for withdrawing funds from the trust, including when services are delivered or canceled. It also specifies that up to 20% of the purchase price can be retained by the funeral establishment unless otherwise stated. The bill details rules for irrevocable trusts, especially for beneficiaries receiving public assistance.

Washington SB5016 regulates prearrangement funeral service contracts, requiring trust funds to be held separately and detailing refund policies.

Washington SB5016 updates the requirements for prearrangement funeral service contracts. It mandates that at least 80% of the cash purchase price, excluding sales tax, must be placed in a trust account within 20 days of payment. The bill outlines conditions for withdrawing funds from the trust, including when services are delivered or canceled. It also specifies that up to 20% of the purchase price can be retained by the funeral establishment unless otherwise stated. The bill details rules for irrevocable trusts, especially for beneficiaries receiving public assistance.