Hey there, friends. Welcome back. Today, I want to demystify a phrase you might hear thrown around in our industry: “Pre-Need.”
In plain English, a pre-need plan is simply making your final arrangements—and optionally paying for them—in advance. But when money enters the conversation, it’s completely natural to ask: Where does that money actually go? Is it safe? What happens if the business changes hands years down the road?
The Ironclad Protections of the Law
I want to put your mind completely at ease. Under Ohio Revised Code Section 4717.35, state law strictly protects consumer pre-need funds. When you pre-fund a funeral, your money never sits in our bank account or goes into our business operating funds.
By law, pre-need funds must be placed in a secure, state-regulated third-party vessel—either:
1. A regulated Funeral Trust Fund, or
2. A specialized Life Insurance or Annuity Policy.
Why This Matters to You
Because your money is backed by regulated financial institutions, it stays protected and accrues growth over time to offset inflation. The funeral home cannot touch a single penny until the time of need arrives and services are delivered.
Think of a pre-need account as a vault held in your name, guarded by state regulations, waiting until your family needs it most.
Pre-arranging isn’t a risky gamble; it’s a heavily guarded, legally protected step toward taking care of the people you love.
Until next time, keep living with peace of mind.
