Illinois and Missouri have more in common than they may realize. Consumers and funeral directors are blaming state regulators for their current preneed problems. Looking to avoid that hot seat, regulators have been stating their excuses/defenses. If legislators are to correct the flaws in their state’s preneed oversight, they need to put partisan politics aside
illinois
Who would have thought it: a Forever cemetery and financial irregularities
By Bill Stalter on
Posted in Cemeteries, Preneed
When its Halloween, the media is naturally attracted to a story that involves horror and a cemetery. The Belleville News-Democrat found a new type of horror for its seasonal article involving a cemetery: Missing Trust Funds!
For added suspense, the newspaper reports there are two cemeteries, and both were (or are?) owned and operated by…
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…