X-Message-Number: 14155
Date: Sun, 23 Jul 2000 13:43:25 -0500
From: david pizer <>
Subject: Re: CryoNet #14133 - #14140

>Message #14139
>Date: Fri, 21 Jul 2000 22:04:54 -0400
>From: Jan Coetzee <>
>Subject: real estate.
>References: <>

>Dave, who will pay the property taxes while you are suspended?

This will depend on how you set it up.  If you leave your real estate in a
charitable lead trust with the rental income going to your favorite charity
while you are frozen and the deed and rental income back to you when you
are reanimated, it would seem that you would put provisions in the document
that all taxes, repairs, assessments would be paid first from the rental
income and then the profit would go to the charity.  You also would want to
allow for expenes of having a property management firm manage it so your
charity wouldn't have to.  They would have to be sure that the property was
protected and kept up so it would be more valuable when you returned.

There is also a law of adverse possession that you have to protect against.
 If someone uses your land without your permission and without paying you
for a long time, they get title to your land.  So you want a property
management firm to make sure that doesn't happen.

If you don't have an estate over 1.6 million (the present amount a married
couple can leave without tax problems right now), you may just want to
leave your real estate in some kind of regular trust for your self and not
use a charity.

There are two reasons to use a charitable lead trust that I can see:  One
to protect against income taxes over 1.6 million, and Two, to avoid the
problem of laws against perpetuties in most states.

If you have under 1.6 million as a married couple and if you think they
will bring you back in less than 99 years after you die, you may not have
tax problems or perpetuities problems?????

I am not an attorney or expert.  Double check everything here with your
attorney, CPA and get an opinion letter from the IRS (they don't cost that

Or call my estate planning attorney. He is one of the most honest and
nicest attorneys I have ever met.  His name is Marvin Kantor.  His
telephone number is 602  254-5557.  You can mention my name and tell him
you are signed up for cryonics and want to discuss ways of protecting your
assets. If you call him, please offer to pay him.  Ask him his rates.


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