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: mft

The High Cost of Litigation: Copy Charges

Posted in NPS/Lincoln
The Special Deputy Receiver for National Prearranged Services recently filed a Bill of Costs with the Federal trial court.  The Bill of Costs seeks to recover copy charges of more than $500,000 from a former NPS trustee.  Those costs do not include attorneys’ fees.  Litigation can be very costly. Missouri’s preneed regulators are keenly aware of the costs of… Continue Reading

Trustee Investment Liability: The Preneed Purchaser Wild Card

Posted in Associations, Fiduciary, Investments
Back in March, the NPS Special Deputy Receiver won a judgement of $355 million against PNC Bank (as successor to Allegiant Bank).   In defense of Allegiant Bank, PNC argued that Missouri’s Chapter 436 defined the trustee’s duties as owed solely to the preneed seller.  That was the intent of the Missouri Funeral Directors Association when… Continue Reading

Association Master Trusts: De Facto Trustees

Posted in Compliance, Exams/audits, Fiduciary, Investments, Master Trusts
According to court filings, the reorganization plans for the Wisconsin Master Trust and California Master Trust each seek to eliminate ‘de facto trustee’ relationships that allowed the respective associations’ executives to ‘misuse, misspend, and mismanage millions of dollars’ of trust funds, and to direct funds towards inappropriate and unsuitable investments that served the association’s, rather… Continue Reading