IL HB3485

Amends the Illinois Funeral or Burial Funds Act to require trustees managing pre-need funeral contract trusts to issue monthly statements to beneficiaries regarding trust performance.

Monthly statements must include the interest rate, interest earned, net and liquid value, original principal investment, and any fees assessed by the banking or investment institution holding the trust.

Maintains existing protections that trust funds used for pre-need contracts cannot be seized by creditors or used in the seller's bankruptcy proceedings, and can only be distributed to purchasers or managed for their benefit.