In a move to remain autonomous from the funeral industry and its oversight, the Missouri cemetery industry met with its regulator during the summer of 2008 to discuss reform legislation. Disagreements precluded effective legislation from being passed in 2009, but extensive changes was passed in 2010, and became effective on August 28, 2010. Now, the Missouri
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Misinformation from the highest source
By Bill Stalter on
Posted in Preneed, Preplanning
The Wall Street Journal has long been viewed as a leading source of business and investment news. But last weekend, the WSJ ran a short article on preneed, and demonstrated its lack of understanding of the transaction.
The article attempts to characterize preneed as an investment, and then explores issues such as cash surrender…
Missouri Cemetery Preneed Law: zero to eighty while blindfolded
By Bill Stalter on
The fear of SB1 drove the Missouri cemetery industry to push for Chapter 214 legislation in 2009, only to have the wheels come off at the stroke of midnight last May. While legislation was passed, the original bill was gutted, and the resulting changes were incoherent and confusing. It was no surprise that the industry…
Strength in numbers: master trusts
By Bill Stalter on
A trade newsletter recently reported on funeral homes forming buying groups to negotiate better terms with casket vendors. Through cooperative alliances, the funeral homes can achieve the numbers required to negotiate better discounts from vendors. Those same economies of scale also benefit preneed programs that utilize trust funding. The larger trust not only provides the…
Getting it Right: Missouri’s Right of Sepulcher
By Bill Stalter on
Posted in Supulcher/Preference Laws
While Missouri has had a right of sepulcher law for five years, there has been disagreement whether the law allowed an individual to override the preferences of his/her next-of-kin. The ambiguities of the original law left funeral directors in a quandary about following the instructions of designated agents. This led to confusion for many Missourians who thought…
Right of Sepulcher – Personal Preference and Wisconsin
By Bill Stalter on
A Wisconsin bill that would establish a right of sepulcher looks bound for passage (AB 305). There are several things to like about this bill. It would establish an individual’s right to control the disposition of his or her body, and to designate an agent authorized to carry out that directive. The bill…