Illinois Small Funeral homes lose authority over Preneed Funds-Your Funeral Guy

2 Nov

Small Illinois Funeral Homes lost fiduciary Control over their preneed funds

Last week Small funeral homes in Illinois have lost fiduciary authority over their. preneed funds. Funeral Directors are looking for new ways to bring in income and they are considering knowledge basis of services, end of life services, estate planing, grief counseling etc as a new income source.

The small funeral home owners can thank the Illinois Funeral Directors Association through the IFDA Preneed Trust Ponzi scheme for this.

Last week 10/28/2009 the Governor of the State of Illinois amendatory veto applied to Senate Bill SB1692 was passed by the Illinois Legislature. It can be viewed here.

The funeral homes will have to find a trustee for their  preneed funds in 2010.

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