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Perpetual Care Fund Mismanagement Sparks Lawsuits
The bedrock of trust in perpetual care funds, promises of eternal tranquility for the departed and peace of mind for the living, has been
FAQs
What is a perpetual care fund?
A perpetual care fund is a financial reserve established to maintain and care for cemeteries or burial sites indefinitely. The fund is typically invested, and the income generated is used for ongoing maintenance and upkeep.
What does mismanagement of a perpetual care fund involve?
Mismanagement of a perpetual care fund can include improper handling of funds, failure to invest or allocate money appropriately, unauthorized use of the funds, lack of transparency, or neglecting the maintenance responsibilities the fund is meant to support.
Who can file a lawsuit regarding perpetual care fund mismanagement?
Typically, family members of the deceased, cemetery lot owners, or interested parties who are affected by the mismanagement can file a lawsuit. In some cases, state regulators or attorneys general may also take legal action to protect public interest.
What are common outcomes of perpetual care fund mismanagement lawsuits?
Outcomes can include financial restitution, court orders to improve fund management, penalties or fines against responsible parties, and sometimes changes in cemetery management or oversight to prevent future issues.
How can individuals protect themselves from perpetual care fund mismanagement?
Individuals can research the cemetery’s reputation, request detailed financial reports, verify that the fund is properly managed and invested, and stay informed about their rights and the cemetery’s obligations under state laws. Consulting with legal or financial experts may also help.