About California Master Trust (CMT)

California Master Trust was created by the California Funeral Directors Association in 1985. The CMT program enables members to offer a simple, flexible funeral trust that met the needs of funeral directors and consumers. Today, more than 250 California funeral homes offer CMT and 85,000 consumers have prefunded their funerals using the trust.

Investment
Department of Consumer Affairs regulates the investment of funeral trust assets. Most of the California Master Trust assets are invested in U.S. Treasury bonds, notes, and bills or any reasonably prudent investment as allowed by California Law and California Probate Code.

“The trust provides a good rate of return and safety for our families’ preneed funds. The CMT support staff is excellent.”

Flexibility
Design the California Master Trust Program to suit families’ needs by offering:

• Guaranteed or non-guaranteed services (74% of participants select guaranteed)
• Payment schedules (CMT provides payment booklets at minimal cost)
• Irrevocable trusts to meet SSI/MediCal eligibility requirements.
• Beneficiary designation if there are excess funds when a non-guaranteed account is paid.

Funeral homes may elect:

• To take the distribution option -- earnings help to offset administrative costs
• To require up to a 10% revocation fee on cancelled accounts
• To establish trusts as “Qualified Funeral Trusts,” eliminating the need to mail complex tax reporting documents to families.

For enrollment form, CLICK HERE.