X-Message-Number: 20617 From: Date: Sat, 14 Dec 2002 14:49:36 EST Subject: Cryonics Trusts, Pizer's Trust Gathering --part1_10f.1b8b20de.2b2ce550_boundary Content-Type: text/plain; charset="US-ASCII" Content-Transfer-Encoding: 7bit In a message dated 12/13/02 5:01:37 AM Eastern Standard Time, writes: > Alan Mole asked: > > "Are there still trusts to hold your money for you while suspended? > snip > What choices are available? " > Hello, Alan and others... Rudi Hoffman writing from Daytona, FL here. I have about $500,000 going into two differerent cryonics wealth preservation trusts. This if funded from a Universal Life insurance policy, and costs me about 2.5 grand a year. Your rate and mileage will vary. The main trust is a "Dynasty Trust" which supercedes the so called "Laws against perpetuities" by design and verbiage. It was drafted by high powered and expensive attornies here in Florida. I have provided copies of this trust for my clients who are buying an insurance policy from me to fund their cryonics trust. I provide the copy of my trust at no cost once they are issued, or before if they are reliably following through. This can then be taken to their local attornies for reworking. It can be funded with life insurance and/or assets. This has been done to date by perhaps half a dozen folks so far. I make no guarantees about long range success. I have also split part of my beneficiary designation to the "Lichtenstein Reanimation Foundation" put together at great expense by Bill Falloon and Saul Kent. They allow additional contributions to this trust/foundation. At zero cost to us. For at least an amount of $25,000. And, guess what? I can't guarantee this one either! And I would be very interested in a meeting such as Dave Pizer mentions, especially if there were several/many people interested in funding their trust with a life insurance policies. Obviously, the choice of trustees and successor trustees is the critical one. I don't believe ANYONE in the world has a totally satisfactory answer...but cryonicists are accustomed to dealing with "best efforts" type arrangements. "All you can do is all you can do." We need as many things working for us as possible. Multiple trusts and arrangements in different venues and countries and managed by multiple and reliable trustees can be established. And the great thing is that these can be funded with the magic leverage of life insurance...as well as assets. The downside to this can of worms is as follows: I have dealt with numerous "tire kickers" and dillatantes on this area over the last 8 years. Many who soak up precious time like sponges, aren't really willing to follow through by putting time, effort, and money into doing what can be done...and want magical guarantees and their risk/reward work to be done for them. Others have arrogant and ignorant attornies who ridicule them. This doesn't make them bad people...but it does make them folks I don't have time for. Sorry if this sounds harsh. But I have perhaps 40 red files of cryonics prospects on my desk as I write these words. All of whom need proper follow up and significant time to get their policies issued and through underwriting...once they make a decision and put money on the line. Added to the challenge is maybe 5 folks I am working with internationally...a whole additional set of challenges.... Sorry, I am not complaining or whining, and I am pleased to have every serious person. But dillatantes and tire kickers can prevent me from my prime directive of getting the serious and qualified people bottom line signed for cryonics with funding in place. All of this to say that Wealth Preservation Trusts and Cryonics Trusts are alive and well...but still formative. It is the next level on the cryonics ladder, and it is only a subset of a tiny subset that are willing, ready, and able to take this next step. But I stand ready to help those who qualify, to the best of my ability, on a "best efforts" basis. Pizer, as usual, is at the forefront of the learning curve, and to be commended for his suggestion about about a "Cryonics Wealth Management Symposium". Perhaps this Summer? Rudi Hoffman Certified Financial Planner --part1_10f.1b8b20de.2b2ce550_boundary Content-Type: text/html; charset="US-ASCII" [ AUTOMATICALLY SKIPPING HTML ENCODING! ] Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=20617