What is refunded if the contract buyer uses a revocable trust as the funding source and terminates the contract after 30 days?

When a contract buyer utilizes a revocable trust as the funding source for a funeral service contract and subsequently terminates the contract after 30 days, the guidelines established for such actions dictate the financial implications concerning refunds.

The correct interpretation here focuses on the understanding of guaranteed and non-guaranteed items. A revocable trust allows the person to retract their funds, and a termination after the specified period typically entitles them to a refund. Specifically, the contractual agreement usually allows for the return of all payments made on non-guaranteed items, which are not fixed in price or are subject to fluctuation, while also ensuring that at least 90% of the costs associated with guaranteed items—those with fixed prices committed to by the funeral home—are refundable.

This approach balances protecting consumer rights while acknowledging that some funds will be retained by the service provider to account for administrative costs or services that may have already been rendered. Thus, the rationale behind this refund structure assists both parties by ensuring fairness and maintaining contractual obligations.