The Dead Beat recently published a letter from a Missouri funeral home operator that was critical of the ‘handling of the NPS debacle’ by the Missouri State Board of Embalmers and Funeral Directors. The operator questioned how the Board could ‘allow’ his firm to sign official documents requiring that NPS contracts be honored. The official
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The Wisconsin Master Trust: Between a Rock and a Hard Place
In a motion to convert the Wisconsin Master Trust from a preneed trust to a liquidating trust, the Receiver outlined to the court why the trust cannot keep its promises to consumers and comply with Wisconsin’s preneed law. Section 445.125 restricts preneed funeral trusts to depository accounts, and CD returns won’t even pay the…
Missouri’s First Preneed Regulation: if at first you don’t succeed, try, try again
More than one funeral director has expressed the opinion that the State Board should never have been given rule making authority. We’ll never know, but if the State Board had rulemaking authority 22 years ago, it could have implemented rules to help enforce NPS’ 1990 settlement agreement, and thereby avoided that company’s collapse. But equally…
Did Someone Ask “Who’s the Boss?”
Three years ago we asked that question with regard to the power struggle occurring between the Missouri State Board of Embalmers and Funeral Directors and the Missouri Division of Professional Registration staff. That post was influenced by our experiences with preneed regulators from other states, who range from elected politicians to the revolving door bureaucrat.
Missouri’s Preneed Reform: the 2015 Factor.
On January 14th, Missouri Governor Jay Nixon will be sworn in for his second term, and we are wondering whether the Governor’s plans for 2015 are influencing the direction of Missouri’s preneed reform. With commentary such as that published by the St. Louis Post Dispatch, the Governor may have his eyes on a 2015…
Checks and Balances: Who has your back?
In the days that followed the Wisconsin Funeral Directors Association being placed into receivership, some of the WFDA’s sister associations were quick to point out they had ‘checks and balances’ that would protect consumers’ funds from the problems that tripped up the Wisconsin Funeral Trust. As we reported in our last post, a crucial ‘check…
Wisconsin: Where is the Love?
When news of the Wisconsin receivership was made public, I anticipated some signs of support from other state associations. The strength of a professional relationship can be measured by the support given subsequent to a public indictment. But, when that support comes in the form of hackneyed advice, the accused is left to wonder about…
One Too Many Guarantees: Wisconsin and the SEC
When news that the Wisconsin Funeral Directors Association and its master trust had been put into receivership, I anticipated that the association may have fallen victim to a perfect storm: when an antiquated preneed law collides with a volatile investment market. But, subsequent news accounts are painting a bleak picture of poor planning and…
Being Hung out to Dry: The Pennsylvania Board of Funeral Directors
Federal Judge John Jones III has teed off (again) on the Pennsylvania Board of Funeral Directors. Awarding attorneys fees of more than a million dollars and issuing a permanent injunction against the State Board, Judge Jones rebuked Board members for their failure to show initiative towards a legislative fix to a Truman era problem. And…
October Chaos: Missouri Preneed Seller Renewals and Insurance Assignments
The staff for the Missouri State Board of Embalmers and Funeral Directors released the revised preneed renewal reports this week, and those revisions include a few new additional requirements. Those requirements include a seller providing a ‘no tax due’ letter, proof of corporate status and any ‘doing business as’ filings. However, the new requirement …