We should be altert to the fact that cemeteries, some here in California, are asking the Consumer Affiars Department for “definitions” of endowment funds vs perpetual care funds, and what exactly each may be utilized for. In a nut shell, I feel they are attempting to access the corpus of these funds which now they may only employ the interest generated on these accounts. The State is concerned because some of the small cemeteries have entered into insolvency and there are no funds available to maintain the grounds hence folks are looking to the government to take up the slack. Granting the cemeteries access to these funds, I strongly believe, portends worse problems in the future.
Dec 5, 2022 12:00 pm – 1:00 pm