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Stricter regulation comes to prepaid funerals

A law that provides oversight of Missouri's funeral homes and prepaid funeral arrangements imposes new licensing requirements and financial scrutiny. It's designed to avoid a financial collapse similar to one that shook the industry in 2008. The law requires extensive new regulations of interest to attorneys who work for the industry and those who advise clients on estate planning. "I don't know another instance where an entire chapter (Chapter 436, MRS, ‘Special Purpose Contracts') was ripped up and rewritten," said Don Otto (pictured, left), an attorney and executive director of the Missouri Funeral Directors Association.