The Illinois Funeral Directors Association is very pleased that a team led by Fiduciary Partners, Inc. has formally assumed the responsibilities as trustee of the Illinois Funeral Trust Pre-Need Trust Program.We have been working diligently for many months to ensure that this action is in the best interests of our trust participants and the families that we faithfully serve.
To Consumers
Financial challenges created years ago, including crediting accounts with an interest rate in excess of actual financial market rates, have now been resolved.All preneed trust accounts have been adjusted to reflect actual investment performance, and we’ve discontinued the practice of applying a crediting rate to account balances.We are confident that the new team, led by Fiduciary Partners as Trustee, will provide professional and appropriate management of new and existing preneed trust accounts.
To Funeral Directors
The IFDA Board worked tirelessly to identify a resolution to the preneed trust’s financial challenges that is in the best interest of all funeral directors who participate in the trust.The Association regrets and apologizes for the inconvenience these challenges created for funeral directors.We strongly believe that you will find the Fiduciary Partners team to be the right solution going forward.
