If a prearranged funeral agreement is funded by any means other than an insurance policy or annuity, such prearranged funeral agreement shall include all of the following information in addition to the information required to be included under Kan. Stat. Ann. § 16-312, and amendments thereto:

(a) A disclosure identifying the name and address of the bank, credit union, savings and loan association, or the trustee of the funeral trust the funds are being deposited into; and

Terms Used In Kansas Statutes 16-313

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Trustee: A person or institution holding and administering property in trust.

(b) a notice that reasonable fees and expenses may be deducted from the trust if a funeral trust established pursuant to Kan. Stat. Ann. § 16-308, and amendments thereto, is being used.

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