The U.S. Government Accountability Office (GAO) released its latest report on the state of state regulation of the death care industry. As it did in 2003, the GAO selected a handful of states to review in depth, and Illinois was one of those states for 2011 report. The Illinois review is set out
January 2012
Perpetual Care and Capital Gains: the government’s rainy day fund?
By Bill Stalter on
For the past few years, some Kansas cemeteries have been getting nasty grams from their regulator about their care fund trustee’s treatment capital gains taxes. Kansas, like most states, requires a portion of each grave space sale (interment right) to be contributed to a fund or trust for the future care of the cemetery. Kansas…
Missouri and Mrs. Smith’s insurance policy: Where to draw the line?
By Bill Stalter on
Every funeral director has faced the situation where Mrs. Smith comes in with an insurance policy and her funeral plans. Often, Mrs. Smith has gone to trouble of designating the funeral home as the policy beneficiary before having discussed her plans with the director. Often funeral directors file the policy and plan away until Mrs.