X-Message-Number: 20617
From: 
Date: Sat, 14 Dec 2002 14:49:36 EST
Subject: Cryonics Trusts, Pizer's Trust Gathering

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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



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