Missouri Joint Account Contract Program For New Sellers
The failure of NPS has left many funeral homes without a preneed program. Funeral directors now face the task of registering as a preneed seller. Making decisions about a preneed program is further complicated by the knowledge that Chapter 436 will be re-written, but not knowing how or when. The changes could be known by the end of May, but it is just as likely that the Chapter 436 changes will not go into effect until 2009.
These circumstances are putting funeral directors into a quandary about how to respond to families that want a preneed plan. Funeral directors will be reluctant to commit time and resources to a new preneed program only to have the rules changed within the next few months.
The Preneed Resource Company is now offering a joint account contract program to funeral directors to provide the flexibility and time to explore options in setting up their own trusts, or contracting with Missouri Funeral Trust, American Prearranged Services or the various insurance companies. Important decisions can be deferred until the law changes are known, and alternative programs are developed.
The PRC Joint Account Contract has been structured to allow funeral homes to move the consumers’ funds to a different program after the reforms to Chapter 436 are known. The PRC Joint Account Contract may also be used as a permanent alternative for funeral directors that prefer a simpler answer.
The PRC Joint Bank Account Contract Program includes the following:
 | A non-guaranteed contract form that is personalized with the funeral home name and address. |
| An addendum that records the family’s choices and incorporates prices from the funeral home’s general price list (ala carte selections only) [package descriptions can be incorporated for an additional charge]. |
| Written instructions for the funeral home and the bank. |
| One hour of consultation with the funeral home and/or bank. |
| An explanation of tax consequences and Chapter 436 requirements. |
| Revisions to the contract form to ensure Chapter 436 compliance when reform is enacted. |
| Assistance with applications to State Board of Embalmers and Funeral Directors. |
| A month subscription to PRC’s Chapter 436 Reform Update. |
Requirements for the program:
| Microsoft Excel |
| The depository bank’s name, address and contact information. |
| The funeral home’s general price list and all merchandise price lists. |
All information provided to PRC for the Joint Account Contract Program shall be kept confidential.
The cost of this service is being offered at $425 to a single location funeral home, and $750 for a multiple location funeral home business.
PRC Preneed Resource Company
9300 Metcalf, Suite 202
Overland Park, KS 66212
(913) 378-9922 or (800) 449-0030
(913) 378-9924
wastal@swbell.net