The Kansas Secretary of State’s office bore the brunt of the criticism for a Hutchinson cemetery that siphoned off hundreds of thousands of dollars from its trust funds. That office has the responsibility of auditing cemetery trust funds (preneed merchandise and care funds). But, poor record keeping on the part of the cemetery industry has
Cemeteries
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…
Another factor in the cremation trend: preneed insurance premiums
By Bill Stalter on
Posted in Cremation, Guaranteed, Insurance Funded, Preneed, Preplanning, Price Protection, Price Protection
Our preneed provides peace of mind by freeing your family from the burdens of rising funeral costs and from making difficult decisions during their time of grief.
Since the inception of the transaction sixty years ago, that statement has defined preneed marketing. Even the AARP recently embrace the peace of mind concept. The inflationary…
KC Funeral Consumer Alliance: Cemetery Survey
By Bill Stalter on
The funeral industry may grumble about the FTC’s Funeral Rule, but two disclosures required by that law play important roles in the preneed transaction. The general price list is often used by funeral homes as a tool for comparing prices with the competition. And when a prearranged funeral is performed, the statement of goods and services…
But who is going to bury Momma?
By Bill Stalter on
Posted in Cemeteries
When a cemetery operator and the regulator get crossways with each other, the threat to close the cemetery is often countered with the question of whether the regulator is going to step in and perform the burials. And when the regulator sticks to his/her guns, the results are often similar to that seen in Dunkirk…
Cemetery Marker Sales and the “Deferred Delivery Expense”
By Bill Stalter on
We don’t like to be reminded of our mortality. Cemetery operators face this issue with many marker and monument sales. An illness may lead a husband and wife to begin making plans, which often includes the purchase of a grave space and a marker. But, it is difficult for many individuals to view a marker…
Kansas Cemetery Legislation: a second bite at the apple
By Bill Stalter on
It is a bit of déjà vu for Kansas cemeteries. Legislation to increase preneed trusting and to require monthly reporting was introduced in the Kansas House. But HB 2240 will look familiar to those cemetery corporations that participated in 2009 and 2010 cemetery legislative meetings conducted by the Kansas Secretary of State.
Four Loaded Questions: Missouri Cemetery Preneed
By Bill Stalter on
Missouri cemeteries received a brief questionnaire last week from their primary regulator. The Office of Endowed Care Cemeteries (the OECC) has responsibility for enforcement of Chapter 214, the Missouri law that governs endowed care requirements and preneed sold by licensed cemeteries. The OECC would seem to be sizing up cemeteries as candidates for Chapter 214…
The Smart Deal: Federal time in the offing
By Bill Stalter on
Posted in Cemeteries
In the end, Clayton will likely spend many of his final days in a federal penitentiary. The Memphis Commercial Appeal outlines the plea bargain to be entered by Clayton Smart to conclude criminal investigations in Tennessee, Oklahoma and Michigan.
Comments made to the Commercial Appeal story express outrage with the prosecutors and the plea bargain.
Missouri Cemetery Reform: New Year’s Resolutions
By Bill Stalter on
In a move to remain autonomous from the funeral industry and its oversight, the Missouri cemetery industry met with its regulator during the summer of 2008 to discuss reform legislation. Disagreements precluded effective legislation from being passed in 2009, but extensive changes was passed in 2010, and became effective on August 28, 2010. Now, the Missouri…