The Missouri law governing means testing for public assistance (RSMo. Section 214.010) was amended this past August to allow an individual to set up an ‘irrevocable funeral trust account’ and exclude $9,999 of funds for funeral and burial expenses. This legislation was sought by a funeral director that wanted to offer families an
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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 …
The Quest for Knowledge: Nebraska preneed reporting
By Bill Stalter on
For more than 20 years, Nebraska preneed sellers have filed an annual report that accounts for the aggregate contributions and distributions from their trust funds. The annual report form also computes the amount of income that must be accrued to the account if the seller elects to withdraw excess income from the trust. In its …