- A state pre-paid funeral organization's trust fund is missing millions of dollars. Now the organization has a court appointed receiver who's cleaning house.

The Executive Director and two financial advisers of the Wisconsin Funeral Director's Association were fired and replaced. This comes after the organization invested the trust's money in a high risk hedge fund, and lost $21 million.

But a spokesperson for the receiver doesn't want people to mistake this for a problem with local funeral homes.

"We want people to know that their local funeral home has not been involved in this from the standpoint of operating the fund. They are the ones who sold the policies, but the issue is related to what happened in Madison and are Association related, not funeral home related," says Evan Zeppos, a spokesperson for receiver of Wis. Funeral Director's Association.

Not every funeral home uses the Association's pre-paid funeral trust. But if it does, Zeppos says you should still be able to collect on it.

"If people need to access the trust fund they would follow the normal procedure, which is to go to the local funeral home from which they purchased it. That's how it would work normally and that's the way it will continue to work," says Zeppos.

Funeral homes also sell a life insurance policy through the Association. That policy is strong and isn't having financial problems.

If you have questions regarding the pre-paid funeral fund you can call 1-855-947-9900, email WirthFuneralReceiver@gmail.com or see the link below.

Related Weblinks:
Wis. Funeral Director's Association Website

Story By: Lyndsey Stemm