Washington Agreement for Perpetual Care in a Cemetery
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How to fill out Agreement For Perpetual Care In A Cemetery?
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FAQ
At essence, endowment care is like a retirement account for each privately-owned cemetery, with the beneficiaries being those interred in the cemetery and the general public.
Endowment Care is the general care, maintenance, and embellishment of the cemetery provided at reasonable intervals within the limits of the income from the Endowment Care Fund.
A nonendowment care cemetery is one that does not have deposited in an endowment care fund the minimum amounts required by law.
Perpetual care is a fund put together to help maintain cemetery grounds, graves, crypts, mausoleums, etc. Families of people buried in the cemetery grounds contribute towards these funds to ensure the place is clean, well-maintained, and secure.
Related Definitions Endowed Care means the care of a lot or grave out of the income derived from a trust fund created by a grave or lot owner, or any other person, in accordance with the Laws of the State of New York. Sample 1. Sample 2. Endowed Care means care or maintenance of the Cemetery.
Endowment Care is the general care, maintenance, and embellishment of the cemetery provided at reasonable intervals within the limits of the income from the Endowment Care Fund.
Nonperpetual care cemetery means a cemetery that is not a perpetual care cemetery. Sample 1. Sample 2. Sample 3. Nonperpetual care cemetery means all other cemeteries, mausoleums, columbariums, or other organizations subject to the provisions of this chapter.
The primary difference between an endowed fund and a non-endowed fund is the permanency offered by endowed funds. The community foundation invests the endowed capital, and only the interest generated is used to issue grants (per the donor's instructions).