New Legislation for Endowed-Care Cemeteries – Unitrust
Introduced in the 2017 Legislative Session was HB2203, which allows for Cemeteries in Arizona to utilize a Unitrust to maintain their property. Bill Text Main Points The goal is to provide enough revenue to provide for the perpetual maintenance of cemetery properties, current limitations make that increasingly difficult in a persistently low interest rate/bond yield market. There are many necessary safeguards in place to ensure prudent expenditures. The use of a Unitrust is not mandatory. …