Funeral Service & Cremation 
Alliance of Wisconsin

Funeral customers protected in proposed settlement in funeral trust case

20 Jun 2013 8:35 AM | Anonymous
A settlement has been proposed between hundreds of funeral homes in Wisconsin and the Wisconsin Funeral Trust, which was taken over by a court-appointed receiver last year when state investigators found it was millions of dollars short of its expected value.

The settlement would assure both that people who invested in the trust by paying in advance for funerals get “100 cents on the dollar” and that funeral homes are “fairly compensated for their services,” said John Wirth, a Milwaukee attorney who is acting as the receiver.

On the remaining issue of litigation against the financial players in the trust’s decline, Wirth said: “I think some litigation is almost certain, but I do believe we are very close to settling and receiving a recovery from many of the substantial players.”
As for the proposed settlement, “all consumers whose funds were deposited in the trust will receive the funeral, burial merchandise and services called for in their burial agreement. A funeral home that signs the settlement will completely fulfill the contract first, and seek payment from the trust in stages” as the effort to recover losses continues.



Read more: http://host.madison.com/news/local/funeral-customers-protected-in-proposed-settlement-in-funeral-trust-case/article_0f972715-846a-5058-b00b-08b7147cbe33.html#ixzz2WlOOIzSW
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