Over the weekend news broke that the pre-paid funeral trust fund, marketed by the Wisconsin Funeral Directors Association is short $21 million! Currently under investigation by the Wisconsin Department of Justice and the Department of Financial Institutions, the fund is being viewed something like a Ponzi scheme because its assets may not cover the expenses of those consumers who paid into the fund.
Sold through local funeral homes, the fund allows consumers to to prepay for funerals and have costs covered upon death. It now appears that consumers initial payment may not be recovered.
This is a developing news story (two articles are linked below). If you or a loved one has paid into this fund, i advise you to follow the news and check back to this blog for updates.