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THE NEW JERSEY PREPAID FUNERAL TRUST FUND™ How Does It Work? You meet with a participating funeral home, select the funeral goods and services you desire, and complete trust fund paperwork. The funeral director then forwards the completed paperwork, along with your check to the Trust Fund. The check is immediately deposited and an acknowledgement of receipt is forwarded to you the following business day. Each year the Trust Fund sends you an annual summary statement of your account’s principal and interest earned, together with the Internal Revenue Service-required Grantor Letter for tax reporting. The interest received by the Trust Fund will vary with money market rates, and the Trustees will only place those funds into FDIC insured bank deposits. An advantage of using the New Jersey Prepaid Funeral Trust Fund™ is that it is immediately available upon death for payment of funeral expenses. Unlike traditional savings accounts which may close or become inaccessible at the time of death, this account becomes payable.
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