Mortuary trust Sample Clauses

A mortuary trust is a legal arrangement established to set aside funds specifically for the payment of funeral and burial expenses. Typically, an individual creates this trust during their lifetime, designating a funeral home or trustee to manage the funds, which are then used upon their death to cover predetermined funeral costs. This clause ensures that funeral expenses are prepaid and managed according to the individual's wishes, relieving surviving family members of financial and administrative burdens at a difficult time.
Mortuary trust. The mortuary trust is the fund created by this agreement to assure the provision of funeral and burial services to the beneficiary. The mortuary trust consists of the payment made for that purpose upon the signing of this agreement and all interest and investment income earned by the fund, less fees and taxes paid pursuant to the terms of this agreement.
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Mortuary trust. The mortuary trust is the fund created by this agreement to assure the provision of funeral and burial services to the person insured. The mortuary trust consists of one or more insurance policies on the life of the person insured, and all proceeds, dividends, premium rebates, disbursements and payments of every kind made from such policy, including all interest and investment income earned. (name of issuer and policy number) (name of issuer and policy number (date of issuance) (date of issuance) (policy amount) (policy amount) This policy (or policies) (check one): □ has been assigned to the funeral home as owner and beneficiary and is payable to the funeral home upon the death of the person insured. □ designates the funeral home as a beneficiary and is payable to the funeral home upon the death of the person insured. If the funeral home is owner and beneficiary, the policy is attached to this mortuary trust agreement. If the funeral home is beneficiary only, a copy of the policy is attached to this mortuary trust agreement.
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Related to Mortuary trust

  • Anti-Trust The MA Dual SNP hereby certifies to HHSC that neither the MA Dual SNP, nor the person represented by the MA Dual SNP, nor any person acting for the represented person, has been found by a judgment of a court of law to have violated the anti-trust laws codified by Chapter 15, Texas Business and Commerce Code, or the federal anti-trust laws.

  • Investment Management Trust Agreement The Company has entered into the Trust Agreement with respect to certain proceeds of the Offering and the Private Placement substantially in the form filed as an exhibit to the Registration Statement.

  • Real Estate Investment Trust Commencing with its taxable year ended December 31, 2009, the Company has been organized and operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Code, and its proposed method of operation will enable it to continue to meet the requirements for qualification and taxation as a REIT under the Code.

  • REMIC Administrator: Residential Funding Corporation If Residential Funding Corporation is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement the Master Servicer or Trustee acting as Master Servicer shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement.

  • Statutory Trust Only It is the intention of the Trustees to create a statutory trust pursuant to the Delaware Act. It is not the intention of the Trustees to create a general partnership, limited partnership, joint stock association, corporation, bailment, or any form of legal relationship other than a statutory trust pursuant to the Delaware Act. Nothing in this Declaration of Trust shall be construed to make the Shareholders, either by themselves or with the Trustees, partners or members of a joint stock association.