More info on ILLINOIS FUNERAL DIRECTORS ASSOCIATION LAWSUIT was disclosed yesterday. What they said about their coming court case was quite confusing.
Without naming the names of the parties involved this is what the executive director of the IFDA said:
“The IFDA Preneed Trust began operating in 1980 under a license issued by the Illinois Office of the Comptroller which regularly renewed the license over the course of more than 25 years. At this juncture, our counsel is reviewing this legal filing to determine the most appropriate course of action to defend our Association, our members and the truth.”
The part that is a tad bit confusing is this: The current comptroller took away the IFDA’s license to manage the trust fund, because the IFDA should not have been given a license to manage the fund in the first place.
So how can a Comptroller renewing the license be a defense?
One lawyer sorted it out at deathcarelaw.com offered some insights.
Can anyone comment and enlighten me here?
Blog by Your Funeral Guy.
This is a sad state of affairs for the Funeral Industry, preneed and your funeral cost.
Statement E- mailed to me by the current IFDA executive director.
An apology, the last post on this subject was deleted due to to a computer malfunction.
Breaking News January 29th 2009-This is an historic move on funeral cost, the funeral Industry and Preneed. (prepaid funerals) The National Funeral Directors Association (NFDA) announced plans to reach the masses in the defense of their industry.
This was done in reaction to two disastrous Scandals in 2008 -National Prearranged Services(NPS) and the Illinois Funeral Directors Association IFDA Preneed Trust Mismanagement Debacle. The NFDA will spent thousands of dollars to reach millions on a major television advertising blitz.
This will do nothing but raise the average cost of a funeral in the United States. I have estimated the average funeral cost to be $8,500.00 USD plus.
In times of deep economic trouble with folks demanding lower cost funerals. this is clearly an attempt to drum up business for an industry clearly in trouble with massive overhead.
The full press release can be viewed at Nfda.org
Blog By Your Funeral Guy
Today I am going to inform you of a little your funeral guy, blog and funeral cost house cleaning.Some of the information I have gathered on the Funeral Industry disaster on Illinois Funeral Directors Association and the IFDA Preneed Trust is no longer available at the old location.
Info has been moved from IFDA.wordpress.com to
http://www.lowercost funeral.com/rbrian blog.
If you saw information there before, You can find it at the new location. Simply search the site.
In fact the entire http://www.ifda.wordpress.com blog has been deleted. The blog will not be coming back. At the new loction tags and categories have been removed that relate directly to funeral homes and individuals.
If individuals and funeral homes are politicians from county coroners to United States Senators or US Presidents the tags and categories are still there.
Just thought you would like to know. I know that some of you have repeatedly gone to that site for funeral industry information.
If you have any questions on this, put them in a comment and I will answer.
All the best,
Your Funeral Guy.
This may come as a surprise to you and your funeral cost. It is Not for profit Funeral Homes. I first ran into this as I was interviewing for my first job as a Funeral Director. The first not for profit funeral home I ran into was Valley Funeral Home in Appleton, Wisc.
This is from their website:
“This means that the profits that the funeral home makes are returned to the families we serve for that year in the form of stocks and dividends. (80% stock, 20% dividends.) Getting established this way was a challenge.”
Very interesting, returning cost to the client! You.
Another approach on the not for profit funeral home can happen because of dual funeral home registration. Some jewish funerals will be done this way where the cost savings goes immediately to the consumer. Quoting from the DailyRecord.com news article.
“The extra money goes back to the Jewish community, which is where it should be going,” Apter said. “We have no shareholders to answer to, no huge board of directors, just myself and Mark and our staff. If you look at the economic climate today … I saw this time after time — a family walks in, they’re handed a statement, and the cost is very high.”
Indeed different funeral guys operating out of the same facility may make it possible for the consumer to have lower funeral expenses. Kudos to these two funeral guys!
Blog by Your Funeral Guy
Be sure to let me know how you lowered the cost of a funeral.