Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
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.
Appraisal: A determination of property value.
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
Beneficiary: means a natural person expressly identified in a preneed contract as the person for whom funeral merchandise or services are intended. See Florida Statutes 497.005
Common business enterprise: means a group of two or more business entities that share common ownership in excess of 50 percent. See Florida Statutes 497.005
Contract: A legal written agreement that becomes binding when signed.
Control: means the possession, directly or indirectly, through the ownership of voting shares, by contract, arrangement, understanding, relationship, or otherwise, of the power to direct or cause the direction of the management and policies of a person or entity. See Florida Statutes 497.005
Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
Cremation: means any mechanical or thermal process whereby a dead human body is reduced to ashes and bone fragments. See Florida Statutes 497.005
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Division: means the Division of Funeral, Cemetery, and Consumer Services within the Department of Financial Services. See Florida Statutes 497.005
Embalmer: means any person licensed under this chapter to practice embalming in this state. See Florida Statutes 497.005
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Fair market value: means the fair market value of assets held by a trust as of a specific date, assuming all assets of the trust are sold on that specific date. See Florida Statutes 497.005
Final disposition: means the final disposal of a dead human body by earth interment, aboveground interment, cremation, burial at sea, anatomical donation, or delivery to a medical institution for lawful dissection if the medical institution or entity receiving the anatomical donation assumes responsibility for disposition after use pursuant to…. See Florida Statutes 497.005
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Funeral director: means any person licensed under this chapter to practice funeral directing in this state. See Florida Statutes 497.005
Funeral establishment: means a facility licensed under this chapter where a funeral director or embalmer practices funeral directing or embalming. See Florida Statutes 497.005
Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
Income: means earnings on trust assets, including interest, dividends, and other income earned on the principal. See Florida Statutes 497.005
Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Legally authorized person: means , in the priority listed:
(a) The decedent, when written inter vivos authorizations and directions are provided by the decedent;
(b) The person designated by the decedent as authorized to direct disposition pursuant to Pub. See Florida Statutes 497.005
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
License: includes all authorizations required or issued under this chapter, except where expressly indicated otherwise, and shall be understood to include authorizations previously referred to as registrations or certificates of authority in chapters 470 and 497 as those chapters appeared in the 2004 edition of the Florida Statutes. See Florida Statutes 497.005
Licensee: means the person or entity holding any license or other authorization issued under this chapter, except where expressly indicated otherwise. See Florida Statutes 497.005
merchandise: means any personal property offered or sold by any person for use in connection with the final disposition, memorialization, interment, entombment, or inurnment of human remains or cremated remains, including, but not limited to, caskets, outer burial containers, alternative containers, cremation containers, cremation interment containers, urns, monuments, private mausoleums, flowers, benches, vases, acknowledgment cards, register books, memory folders, prayer cards, and clothing. See Florida Statutes 497.005
Monument: means any product used for identifying a grave site and cemetery memorials of all types, including monuments, markers, and vases. See Florida Statutes 497.005
Monument establishment: means a facility that operates independently of a cemetery or funeral establishment and that offers to sell monuments or monument services to the public for placement in a cemetery. See Florida Statutes 497.005
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Net worth: means total assets minus total liabilities pursuant to generally accepted accounting principles. See Florida Statutes 497.005
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Oversight: Committee review of the activities of a Federal agency or program.
Person: when used without qualification such as "natural" or "individual" includes both natural persons and legal entities. See Florida Statutes 497.005
person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 88.6011
Preneed contract: means any arrangement or method, of which the provider of funeral merchandise or services has actual knowledge, whereby any person agrees to furnish funeral merchandise or service in the future. See Florida Statutes 497.005
Principal: means and includes the sole proprietor of a sole proprietorship; all partners of a partnership; all members of a limited liability company; regarding a corporation, all directors and officers, and all stockholders controlling more than 10 percent of the voting stock; and all other persons who can exercise control over the person or entity. See Florida Statutes 497.005
Processing: means the reduction of identifiable bone fragments after the completion of the cremation process to unidentifiable bone fragments by manual means. See Florida Statutes 497.005
Purchaser: means a person who executes a preneed or an at-need contract with a licensee for merchandise or services. See Florida Statutes 497.005
Religious institution: means an organization formed primarily for religious purposes that has qualified for exemption from federal income tax as an exempt organization under the provisions of…. See Florida Statutes 497.005
Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
Rules: refers to rules adopted under this chapter unless expressly indicated to the contrary. See Florida Statutes 497.005
service: means any service offered or provided in connection with the final disposition, memorialization, interment, entombment, or inurnment of human remains or cremated remains. See Florida Statutes 497.005
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Solicitation: means any communication that directly or implicitly requests an immediate oral response from the recipient. See Florida Statutes 497.005
Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
Trustee: A person or institution holding and administering property in trust.
veteran: means a person who served in the active military, naval, or air service and who was discharged or released under honorable conditions only or who later received an upgraded discharge under honorable conditions, notwithstanding any action by the United States Department of Veterans Affairs on individuals discharged or released with other than honorable discharges. See Florida Statutes 88.6011