U.S. Senator Roland Burris has been sidestepping questions about his role(s) in the IFDA master trust troubles. While the Senator was a side issue to a March 30th article published by the Springfield Journal Register, the statement provided by his public-relations specialist may signal just how little Mr. Burris understood about his responsibilities to the
illinois funeral directors association
Chris Butler’s attempt to set the record straight
By Bill Stalter on
The IFDA seems to be everyone’s favorite whipping boy. Even prominent industry leaders are stepping back from the Association in its time of need. The epicenter for the latest news on the IFDA’s troubles has been the Springfield Journal-Register and Bruce Rushton. Mr. Rushton has done a thorough and excellent job of reporting on…
Now that we have your attention: IFDA liability exposure
By Bill Stalter on
In naming the IFDA officers and board of directors as individual defendants in their lawsuit, the Calvert group sought to make these individuals accountable for management of the association’s master trust. Members of a board of directors have a duty to act in the best interests of the organization. Defenses against personal liability are…
Restoring peace of mind: at the preneed provider’s expense.
By Bill Stalter on
John Duggan has a point, and that’s what concerns regulators in Illinois, Missouri and Texas. Who will be blamed when the consumer does not get the benefit of their preneed contract?
While the overwhelming majority of NPS’ preneed contracts will be honored by the funeral home named in the contract as the “provider”, it…
Caught in a crossfire: the IFDA
By Bill Stalter on
Posted in Preneed
It didn’t take long for an Illinois funeral director to confirm that IFDA members have disagreements with their association leadership.
Several Illinois funeral homes filed a lawsuit in Cook County Circuit Court on January 28th. The petition, a derivative complaint, seeks remedies and damages on behalf of all Illinois funeral homes that participated in the IFDA master…
The Decline in Consumer Confidence: the IFDA class action lawsuit
By Bill Stalter on
Posted in Preneed
Last October, the Illinois Funeral Directors Association posted some “Frequently Asked Questions” on their website. The FAQ page was intended to address questions and concerns raised by funeral directors and consumers about changes being made to the IFDA Master Trust. Page 6 of that FAQ was addressed to the Illinois families that had…
Illinois Funeral Directors: whipsawed
By Bill Stalter on
Posted in NPS/Lincoln, Preneed
The IFDA master trust turned a new page today, and for participating funeral homes, the first step in a long recovery process. With the appointment of Merrill Lynch Bank & Trust as a temporary trustee, the association begins the process of looking for a permanent trustee. The appointment also coincides with the trust’s accounts being…
Accountability and the Master Trust
By Bill Stalter on
A bank client recently asked that I provide some standard of accountability for administration provided to a master preneed trust. As I struggle to provide the client a concise answer, I can’t help but to think that the issue will also become a crucial concern to consumers and funeral directors alike. As news reports reach consumers about…