Which of the following is NOT a requirement for a funeral trust?

The choice indicating that a funeral trust must have multiple settlors is indeed not a requirement. A funeral trust can be established by a single settlor, allowing an individual to create a trust for their own funeral expenses without needing to involve multiple people. This flexibility is important because it simplifies the process for individuals who wish to set aside funds for their own funeral arrangements.

In contrast, a funeral trust must be irrevocable, ensuring that once the funds are placed in the trust, they cannot be withdrawn or altered by the settlor. This is critical for protecting the funds meant for funeral expenses from being misused or redirected. Naming a financial institution is also a standard requirement, as it ensures that the trust is managed professionally and that the funds are safeguarded. Lastly, while it may be common to name a licensed embalmer as a beneficiary, this is not a universal requirement for all funeral trusts. Thus, the necessity of having multiple settlors is accurately identified as an incorrect premise regarding the requirements for a funeral trust.