The Role of the White Knight in Turning around a Distressed Cemetery or Funeral Home
What happens when a problem is found with a funeral home or cemetery trust? Regulatory agencies are not equipped to run funeral homes or cemeteries. What’s needed is a ‘white knight’ who can step in and take over these operations.
The laws of most states provide a comprehensive regulatory framework governing cemetery and funeral home operations, cemetery and funeral home trusts relating to preneed contracts and cemetery trusts relating to endowment care.
Despite these extensive regulations, state regulators too often find themselves confronting situations where trust funds have been dissipated by bad or impermissible investments, diverted by operators for improper purposes or inappropriate schemes or even embezzled.
Whether the magnitude of the problem is small or many millions of dollars, it can leave state regulators in a quandary.
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“The Role of the White Knight in Turning around a Distressed Cemetery or Funeral Home,” by Lewis J. Hoch was published in the August/September 2017 edition of ICCFA Magazine. Reprinted with permission.