What percentage must a cemetery company pay into the care and maintenance trust fund?

In Florida, cemetery companies are required by law to contribute a percentage of the sale proceeds from grave spaces, niches, and other funeral merchandise into a care and maintenance trust fund. The correct percentage is 10%. This requirement ensures that there's a dedicated fund available for ongoing maintenance and upkeep of the cemetery, which is important for preserving the integrity and appearance of the burial site for the long term.

Contributing to this trust fund is a safeguard for consumers, as it guarantees that their investments in burial spaces will be honored and maintained, regardless of future financial stability of the cemetery operator. The necessity for such regulations stems from past abuses in which funds intended for maintenance were mismanaged or misused.

Understanding the necessity for this trust contribution helps underscore the importance of regulatory measures in protecting consumer interests in the funeral industry.