Illinois Funeral Directors Association has no standing, anywhere
There will be no standing at the the Illinois Funeral Directors Lower cost Funeral. Surely the ceremony is about to begin as the fat lady gets ready to sing.
“My prediction is that the Illinois Funeral directors association will be out of business by this time next year.”-yourfuneralguy
Last fall they had to write out $59 Million out of their Preneed Trust Fund.
The Comptroller of the State of Illinois has demanded that the Illinos Funeral Directors Association pay back 10 million dollars. It appears that they do not have the funds according to their executive director Duane Marsh.
There are now 5 lawsuits in the IFDA Preneed Trust Scandal. As lawsuits proliferate the chances of the Illinois Funeral Directors survival diminish.
For these reasons the Illinois Funeral Directors Association is about to go to the grave. For this reason also you should not stand for funeral preneed. The IFDA has no standing with lower cost preneed funerals anymore
Funeral cost| Funeral Industry Blog by Your Funeral Guy- Lower Cost Funeral Guy
No standing picture from flickr under creative commons license from
NPS Closes Down, Every One at NPS on Permanent Layoff, and there is more funeral cost problems with pre-need and pre-paid funerals!
This is clearly another example of a Preneed Scandal.
There are clear signs of the Preneed Scandal that are in every preneed scandal
1. The Funeral Person takes the money.
2. The funds do not reach the final destination or stay in the Final Destination.
Here is what your Funeral Guy received from the IFDA on April 11, 2008,
The Funeral Service Insider is reporting that National Prearranged Services has shut down its operations. The Insider also reports that NPS will now only pay the face amounts of their policies.
The facts behind the implosion of this once-successful preneed company are complicated and murky, but it’s alleged that monies sent in for preneed policies were only partially sent to their final destination. The preneed funds were converted into five year policies for the lower monthly premiums. Then the monthly premiums were sent in rather than the entire original deposit. It’s not yet known what happened to the portion of funds never sent in.”
Indeed this is truly sad… Another blackmark on the Funeral Industry!
I will comment on the Illinois Comptroller’s Press Release:
4/11/08 – HYNES TAKES ACTION AGAINST SELLER OF INSURANCE-FUNDED PRENEED FUNERAL BENEFIT CONTRACTS
No they did not reveal what they Are hiding. They did not go to the microphone and make statements about the folks funeral cost. What is this? Funeral trust?
Here is what they had to say in an E mail to all Members.
“IFDA Announces Interim Trust and Program Management Strategy
Effective immediately, the IFDA Board of Directors announces the appointment of Mark K. Cullen, the IFDA’s long time legal and trust counsel, as the Managing Staff Director for the purposes of overseeing the conversion of the IFDA Preneed Trust to an institutional fiduciary as required by the Illinois Comptroller. Mr. Cullen will also be providing staff leadership as IFDA works with Regions Morgan Keegan Trust on the form of future offerings, while also resolving issues involving the distribution of any future key man insurance death benefits currently being disallowed by the Comptroller as plan assets.
Regular non-trust IFDA business will be managed by an internal management staff team composed of Kevin M. Burke, CPA, Controller; Jill A. Alters, Director of Communications; Jodi L. Meyers, Association Administrator; Karen Blankenship, Trust Administrator; and Russ Cable, Director of Member Services. The management team will be reporting directly to the IFDA Board of Directors.
During this interim period, expected to last at least until the end of June, the IFDA Executive Director Search Committee will continue to prepare for the search and recruitment process expected to commence when the interim period ends. In the meantime, the Search Committee is considering what characteristics and skills it is seeking in a new executive director to provide long term direction to the IFDA and funeral service in Illinois.
For further information, contact President Geoffrey W. Hurd at 309-289-4121.”
Go ahead now contact Geoffrey W Hurd.
Now many people say lawyers are Liars. What this lawyer does remains to be seen.
Key Man insurance Death benefits disallowed?? Mmmmmm.
Your Funeral Guy, Funeral Director, Author, State of Illinois.
