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Attorney Profile – William Stalter
In 1986, Bill was hired out
of the University of Oklahoma School of Law to join the Kansas City
law firm engaged to provide research to a coalition of death care
companies contesting a nation-wide audit of preneed
trusts by the Internal Revenue Service.
For several months, Bill
researched all fifty states’ laws regarding preneed and probate as
they related to the IRS’ argument that the preneed consumer should be
treated as the grantor for tax purposes. Subsequent to the issuance
of Revenue Ruling 87-127 in January 1988, Bill’s work was shifted from
research to preneed program development.
Bill’s next major assignment
was for a third party preneed sales company with trust-funded preneed
programs in 15 states. This client sought an alternative
insurance-based preneed program. Bill spent the next three years to
help establish a life reinsurance company, develop insurance funded
preneed contracts, coordinate with actuaries to develop insurance
policies in multiple states, and develop marketing for insurance based
preneed. The client’s insurance program placed approximately $40
million dollars of insurance at the end of the first five years.
In 1994, the compliance
responsibilities for a death care client with 15 funeral homes, 3
crematories, and 11 cemeteries in four states were assigned to Bill.
Despite an ownership change in 2000, these funeral homes and
cemeteries continue today to rely upon Bill for advice on their death care
compliance requirements.
In 1995, a federally
chartered financial institution retained Bill to advise the
institution on its fiduciary responsibilities as a preneed trustee.
This area of Bill’s practice has since expanded to include a variety
of state chartered and national chartered institutions, including two
of the nation’s largest banks. A description of Bill’s bank
compliance projects will be provided upon request.
In 1997, Bill formed The
Preneed Resource Company with a former law partner to provide
administrative and consulting services to banks, funeral homes and
cemeteries.
In 2003, Bill was engaged by
a financial institution to help assist in its development of a lending
program tailored for the death care industry. During this two-year
engagement, Bill advised the client regarding preneed compliance, loan
documents, and preneed program assessments.
In 2006, Bill was engaged by
a national cemetery consolidator to provide compliance advice.
Legal Bars
Admitted: 1986, Missouri;
1987, Kansas; 1989, U.S. Tax Court
Law School:
University of Oklahoma,
J.D., with distinction, 1986
Graduate Degrees University of
Oklahoma, M.B.A., 1986
Undergraduate Degree:
Illinois State University, B.S., 1978.
Articles:
"Pre-Need Funeral Trusts: A
Tax Primer," ABA Bank Compliance, July/August 2001; “How
to Develop an Attractive Preneed Trust Agreement”, International
Cemetery & Funeral Management periodical, March-April 2003. |
