How many trustees are required in a prearrangement funeral service trust agreement?

In Washington, a prearrangement funeral service trust agreement must have two or more trustees. This requirement serves several purposes, primarily to ensure accountability and security for the funds entrusted within the agreement. By having multiple trustees, it helps prevent mismanagement or misuse of the funds that are typically set aside for future funeral services.

Having two or more trustees allows for checks and balances, as it reduces the risk of a single person's actions leading to financial impropriety. It also provides continuity in management of the trust, as one trustee can step in if another is unable to fulfill their duties. This structure is particularly important in maintaining the integrity and reliability of prearrangement trusts, assuring consumers that their funds will be properly safeguarded and utilized as intended when the time comes.

In summary, the requirement for two or more trustees in a prearrangement funeral service trust agreement is crucial for protecting the interests of those who are prearranging their funeral services.