05/11/2009

OFDA Sample Preneed Contracts

By July 5, 2009, Ohio funeral homes will be required to utilize preneed contracts that comply with the new Ohio preneed law found at Sections 4717.31 through 4717.38 of the Ohio Revised Code. 

OFDA has previously published and placed on its website a Preneed Compliance Manual to assist members in revising preneed contracts to meet the requirements of the new law.  To further assist members, OFDA has prepared five sample preneed contracts that members may utilize in putting together their own forms.  The five forms are as follows:

1. Irrevocable and Guaranteed-Price Preneed Contract Funded by Trust.
2. Revocable and Guaranteed-Price Preneed Contract Funded by Trust.
3. Irrevocable and Non-Guaranteed Price Preneed Contract Funded by Trust
4. Revocable and Non-Guaranteed Price Preneed Contract Funded by Trust
5. Irrevocable and Non-Guaranteed Price Preneed Contract Funded by the Assignment of Insurance.

These and other forms may be downloaded from the Member Only section - Forms.

Remember, preneed contracts meeting the requirements of the new law must be used starting no later than July 5, 2009.  You may, of course, utilize them prior to that date.  OFDA members with questions regarding the new preneed law may contact Scott Gilligan at (513) 871-6332.