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
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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…
Trade Association Membership: weighing the costs vs. the benefits
By Bill Stalter on
Mortuary Management’s July/August Colleague Wisdom column underscores how difficult it can be to run a trade association. I can empathize with the funeral home operators who took the time to provide their thoughts. As an attorney who specializes in the death care industry, I have to weigh the costs and benefits of membership in trade associations from…
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…