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Death Care Compliance Law

Preneed: A Pandora's Box of Problems

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Insurable interest and the IFDA master trust

By Bill Stalter on June 18, 2009
Posted in IFDA

The Illinois Division of Insurance made the right call: the IFDA master trust does not have an insurable interest in the lives of the members who participate in the trust.

A preneed trust is intended to fund the liability that arises when the preneed beneficiary dies and a funeral must be provided. Accordingly, it…

The IRS and its role in the IFDA master trust problems

By Bill Stalter on April 13, 2009
Posted in Fiduciary, IFDA, Preneed, Preneed Tax

As new allegations surface about the Merrill Lynch broker associated with the IFDA master trust, some may appropriately ask why a preneed trust would ever invest in an insurance product. There was a time when the twain shall never meet. That all changed in January 1988, and specifically when the IRS and Treasury decided to…

William Stalter is the founder of Stalter Legal Services and the Preneed Resource Company. Bill focuses his law practice on preneed and death care compliance, serving banks, funeral homes, crematories, and cemeteries. He has written multiple published articles…

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Topics

  • Associations
  • Cemeteries
    • Care Funds
      • Cemetery Master Trusts
      • Unitrust
    • Preneed Development
      • Price Protection
  • Cemetery Development
  • Churches/Ritual
  • Compliance
    • Administration
    • Exams/audits
    • Investments
    • Recordkeeping
    • Reporting
    • Taxes
  • Consumer Advocates
  • Cremation
  • Fiduciary
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  • Funeral Home Business Practices
    • Preneed Development
      • Price Protection
    • Preneed Shortfalls
    • Total Return Trust
  • IFDA
  • Legislation
  • Master Trusts
  • Missouri – SB1
  • NPS/Lincoln
  • Preneed
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    • Insurance Funded
    • Non-guaranteed
    • Trust Funded
  • Preneed Development
  • Preneed Tax
  • Preplanning
  • Reform
  • Supulcher/Preference Laws
  • Transition Documents
    • Final Expense Trust
    • Power of Attorney
    • Prepaid Funeral Contract
    • Right of Sepulcher
  • Uncategorized

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Recent Upates

  • End of Life Forums: Well Intended, but Sometimes Misleading
  • Missouri SB32: New Teeth for the State Board
  • Missouri SB32: The Preneed Audit Fund
  • Missouri SB32: A New Audit Direction
  • Missouri Preneed Legislation: Time to Follow the Money

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  • Have the Talk of a Lifetime.
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Stalter Legal Services, LLC
5350 W. 94th Terrace, Suite 202
Prairie Village, KS 66207
Phone: 913.378.9920
Preneed Resource Company
5350 W. 94th Terrace, Suite 202
Prairie Village, KS 66207
Phone: 913.378.9922
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