While COVID-19 reminds the most vulnerable of our population of the need for funeral planning, safety concerns may preclude following advice given by both the Death Care industry and the Federal Trade Commission: visit multiple funeral homes and request their general price lists. The FTC mandated ‘general price list’ provides an itemized description of the
planning
The Ecclesiastical Preneed Funeral Plan: Exceptional Financial Security
By Bill Stalter on
Posted in Churches/Ritual
The promotional website for the Ecclesiastical Preneed Funeral Plan could easily be mistaken for that of a funeral home. This church stresses to parishioners the need to not only plan their funeral, but to also make financial provisions for their eventual funeral expense. The website points out that funeral costs are rising, and funding a…
Church and Funeral Directors in Partnership
By Bill Stalter on
Posted in Churches/Ritual
We came across the Dioceses of Liverpool website some time ago when researching the income tax consequences of church sponsored preneed programs. We had found that preneed funeral programs in England, Canada and Australia were often established and operated independent of the funeral home. With a high cremation rate, English churches saw an opportunity to…
MyRA: Is preneed headed in a similar direction?
By Bill Stalter on
President Obama used his State of the Union address to unveil a new type of retirement account dubbed “MyRA”. Recognizing that Americans are woefully unprepared for their retirement years, the President believes the MyRA offers individuals a safe option to induce them to begin saving for those golden years. A CNBC report provides an explanation…
Succession Planning Gone Bad
By Bill Stalter on
Posted in Funeral
At age 78, Darrell Bennett should be spending his days on a Florida golf course. Instead, he is back in Michigan trying to salvage his life’s work. Like so many funeral home owners, Mr. Bennett handed over the keys to someone he trusted and took back a note for the purchase price. According to stories…
Missouri’s Personal Preference Law: End of Life Planning
By Bill Stalter on
Posted in Supulcher/Preference Laws
An important revision to Missouri’s personal preference law goes into effect on August 28th. The original law (R.S.Mo. Section 194.119) was confusing to funeral directors about whether an individual could override the preferences of his/her next-of-kin. With the revision, funeral directors can more comfortably rely upon the individual’s durable power of attorney when following the…