In early February, the Federal Trade Commission announced it will begin reviewing the Funeral Industry Practices Rule, commonly referred to as the Funeral Rule. As part of their review, they are requesting feedback from the public regarding what effect, either positive or negative, the rule has had on them—if...
In 2017, the National Funeral Directors Association reported that the median cost of a funeral was $7,360 for viewing and burial with no vault, $8,755 for viewing and burial with vault, and $6,260 for viewing and cremation. These figured don’t take cemetery, monument, or market costs into account, nor...
For many people, the holidays are a time to come together with family and friends, including those we don’t see often during the rest of the year. We share life updates, swap stories, reminisce about times gone by, and detail our plans and hopes for the future. It’s safe...
Perpetual care funds are monies placed in trust by cemeteries to generate income to cover cemetery maintenance in perpetuity. The funds are derived from sales of grave sites, above-ground crypts, and niches in mausoleums and columbariums. Cemeteries usually add 5-15% to the price charged for these items for perpetual...
Most everyone knows that daily living can impact the environment in countless ways. Now, more and more people are realizing that death care can, too. Accordingly, a study performed by the National Funeral Directors Association (NFDA) revealed that 54 percent of all Americans are now considering a green burial....
For some reason, perhaps owing to its use in popular culture via soaps, tabloids, and movies, the word estate seems to be applied to the very rich. In fact, when you have a property and other valuables after you die, those make up your estate. This may include a...
Cemetery Software for Today and Tomorrow When you think of cemeteries, you might not think of the most technologically advanced places. After all, most cemeteries still use a lot of paper in their day-to-day operations. However, cemeteries can use technology to stay relevant in today’s competitive markets.
If you own a cemetery that sells pre-need contracts, you are familiar with the regulations that require you to place the funds into a trust. But did you know that several states allow you to distribute any surplus from the trust to your business? The regulations, which differ by...
Individuals can purchase, in advance, some or all of their funeral and cemetery merchandise and services through what’s called a preneed contract. Some people choose to only pre-arrange and pre-purchase their cemetery property (interment rights), such as a plot, crypt, mausoleum or niche, while others choose their burial services...
Proper management of the cash flow of your perpetual care trust can maximize the ultimate benefit of the trust to your cemetery company or non-profit cemetery association, and your customers. In many cases, however, not enough attention is paid to ensure proper tax planning, which is sufficient to eliminate...
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