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
Dark Clouds and Preneed
By Bill Stalter on
Not that close, even from the 30,000-foot view.
That’s our assessment of the Morningstar analysis of preneed and its impact on the death care industry. In “Dark Clouds for the Death-Care Industry”, a stock analyst attempted to explain the preneed transaction, and then provide an assessment of the impact of preneed on the profitability of…
Dark Clouds and Unfavorable Secular Trends
By Bill Stalter on
A few months ago, a stock analyst issued a critique warning against investment in the industry’s public companies. A few weeks later, the critique got a second wind when chat pages and social media forums picked up on the critique’s conclusion, and circulated the article as proof that certain trends will ‘haunt’ all funeral homes…
The Preneed Database: another audit tool
By Bill Stalter on
As reported previously in the blog, the State of Nebraska began to implement a preneed contract database in 2010 when master trusts were requested to provide individual contract data in an electronic format. The request was expanded to all preneed sellers in 2011.
Kansas Secretary of State sought legislation in 2010 for the authority to…
Preneed Reporting: drilling down to each consumer
By Bill Stalter on
For most Illinois funeral homes, March 15th is the due date for the filing of their preneed data with the Comptroller’s office. For those funeral homes that bolted from the IFDA after the master trust melt down, this has been an extremely frustrating process. The majority of funeral homes must file on line, with supporting…
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.
The Comptroller’s Annual Report: a broken trail
By Bill Stalter on
This blog commented a few weeks ago on Dan Hynes’ failure to follow through on his own legislation. Since that post, the new Comptroller revised the Annual Report to eliminate references to self-trusted funds. However, funeral homes that transferred out of the IFDA master trust will still find the report difficult to complete.
The Comptroller’s…
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…
Missouri’s Trust Funded Report: perserving self regulation
By Bill Stalter on
The ‘deadline’ for Missouri preneed sellers to ‘voluntarily’ report their pre-SB1 trust funded sales is a mere two weeks away. Again, this is a voluntary report. As such, missing the ‘deadline’ or failing to use the Board’s form carries no penalty to the preneed seller. So, why file?
The reason expressed by one State…