Death Care Compliance Law

Death Care Compliance Law

Preneed: A Pandora's Box of Problems

William Stalter is the founder of Stalter Legal Services and the Preneed Resource Company. Bill focuses his law practice on preneed and death care compliance, serving banks, funeral homes, crematories, and cemeteries. He has written multiple published articles

Tag Archives: income

Cemetery Care Trusts: The Public Interests

Posted in Care Funds, Cemeteries
The International Cemetery, Cremation and Funeral Association (ICCFA) made an old but persuasive argument to get the IRS to exempt cemetery care trusts from the Medicare tax that will fund ObamaCare.  As discussed in a prior post, the IRS had initially proposed to apply the tax to both cemetery care trusts and preneed trusts.  With … Continue Reading

The Bernanke Factor: The New Volatility for Death Care Trusts

Posted in Investments, Master Trusts, Preneed
A Missouri preneed auditor recently requested an explanation from a client why certain accounts were underfunded.  The handful of accounts were “underfunded” by varying amounts of a few dollars to twenty dollars.  The common fact with each was an initial deposit or substantial deposit in the month preceding the Federal Chairman’s remarks that sent the … Continue Reading

Illinois Tax Blues: when a loss is not a loss

Posted in IFDA
For many Illinois funeral homes, April 15th served as a bitter reminder of Merrill Lynch and the financial losses suffered by the IFDA master trust. The final Merrill Lynch settlements (approximately $41 million) were received in 2012, and taxes had to be paid on those funds this past tax day. Funeral directors have questioned how … Continue Reading

Too Literal of an Interpretation: Mississippi and Preneed Taxes

Posted in Preneed, Preneed Tax, Reporting
The Mississippi Secretary of State seems to be taking a very proactive approach to the regulation of preneed and perpetual care funds. Over the course of the last few years, the Regulation and Enforcement Division of the Secretary of State’s office has averaged an enforcement proceeding per month. We were curious what type of enforcement … Continue Reading

Taxes and the Bounty Hunter

Posted in Preneed, Preneed Tax
When news of the indictment of 6 National Prearranged Service officers was reported last November, many newspapers picked up the AP version that included a quote from the Internal Revenue Service criminal investigator. The fact is that the Federal investigation of NPS involves investigators from the IRS, the FBI and the U.S. Postal Inspection Service. … Continue Reading

Non-guaranteed preneed: time to review the duties

Posted in Compliance, Funeral, Preneed
The financial fallout from the failures of NPS and IFDA regarding compliance with state and federal laws has accelerated the decision of many funeral directors to switch to the non-guaranteed preneed contract. That non-guaranteed contract represents a fundamental change in the relationship that is established between the consumer, the funeral home and the preneed fiduciary. The … Continue Reading