Transferring Your Prepaid Funeral Contract

Transferring A Prepaid Funeral Contract

Many people who enter into a prepaid funeral contract do not fully understand their transferability rights.  A Prepaid Funeral Contract can be transferred either before or after death occurs.  Michigan laws governing prepaid funeral contracts purchased through a funeral home are designed to protect you the consumer.  Laws vary tremendously from state to state.  Even in Michigan, the regulations will vary depending upon whether you purchased your preneed contract through a funeral home or a cemetery. 

For your protection, any funds paid for your prepaid funeral were placed in the hands of a third party where they must remain until you cancel the contract or the contract is fulfilled.  You retain ownership, and therefore control of the funds at all times up to the point where a licensed funeral home actually performs the contracted services.  And even then the funds can only be released to the funeral home that actually performed the funeral services.

A contract can be easily transferred before or even after a death occurs.  Simply contact the new funeral home of your choice and they will be able to assist you.   In order to transfer the contract, all that must be done is to notify the third party holding the funds that a different funeral home has been selected.  In most cases the money never actually moves, only the funeral home designation changes.

Itís also important to know if the new funeral home will accept the transfer under the same terms as the original funeral home.  In most cases they will.   Obviously every situation can be a little different, so if you have any questions or concerns, weíll be happy to speak with you.