What does Ohio law stipulate about prepaid funeral arrangements?

Ohio law mandates that prepaid funeral arrangements must be placed in a trust or secured by an insurance policy to ensure that the funds are protected and utilized appropriately for the final expenses they are intended to cover. This requirement serves to safeguard the consumer's investment and guarantees that the funds will be available when needed for funeral services. By requiring these arrangements to be secured in this manner, the law helps prevent potential mismanagement or misuse of the funds by funeral homes.

The regulation of prepaid funeral arrangements reflects the state's commitment to consumer protection and ensures that individuals can have peace of mind knowing their prearranged funeral costs will be honored as intended.