During a sale or transfer of a funeral business, what must the owners do concerning monies held in trust?

• A. Both the new owner and the former owner must inform in writing within 30 days anyone who has paid into the account of the change and the name and address of the previous and new owners
• B. The new owner alone must inform within 15 days
• C. The former owner alone must inform within 60 days
• D. No notice is required

Answer: (A)

When a funeral business is sold or transferred, those handling monies in trust must keep beneficiaries informed about who is now in charge. Both the former owner and the new owner must, within 30 days, send a written notice to everyone who has paid into the trust account. The notice should include the names and addresses of the old and new owners so payers know who is managing their funds and how to reach them.

This ensures transparency and continuity for pre-need arrangements, guarding the interests of those who contributed to the trust. Informing by only one party or delaying notice would leave clients uncertain about who controls their funds.