There seems to be some confusion in Missouri over the permissible contractual relationships among the preneed seller, the preneed trustee and the independent investment advisor. Prior to the collapse of NPS, and the subsequent amendment of Missouri’s preneed law, Chapter 436 allowed the preneed seller to incorporate provisions in its preneed trust agreement to instruct

When the Missouri State Board of Embalmers and Funeral Directors meet this week, the role of the Board’s Financial Examination Committee will be discussed.  As established, the Financial Examination Committee was intended to expedite the exam process.  The initial Committee consisted of the Board’s public member and a former industry member who had previously acknowledged

Prior to Missouri re-writing its preneed law in 2009, preneed sellers could draw off realized income so long as the withdrawal did not reduce the trust’s fair market value below trust deposits.   Seeking income, many Missouri sellers directed their trustees to invest in bonds.  As interest rates declined during the early part of the prior

As discussed in a prior post, the Missouri State Board of Embalmers and Funeral Directors is now four years removed from Senate Bill No. 1 and the exigent circumstances that authorized emergency rules. The State Board must now address several issues through the formal rulemaking process. Understanding that the process may take a year or

The Dead Beat recently published a letter from a Missouri funeral home operator that was critical of the ‘handling of the NPS debacle’ by the Missouri State Board of Embalmers and Funeral Directors. The operator questioned how the Board could ‘allow’ his firm to sign official documents requiring that NPS contracts be honored. The official