X-Message-Number: 4651
Date: Wed, 19 Jul 1995 23:21:29 -0800
From:  (American Cryonics Society)
Subject: PARK YOUR PARK PLACE AT OUR PLACE

Not to be left out, please add the name "American Cryonics Society, Inc."
among the organizations which will accept real estate, in some
circumstances, for part of or all funding for cryonic suspension.

We occasionally get calls from relatives of people who are near legal death
who want us to agree to accept real estate for the suspension.   Often
there is confusion as to who has the legal right to dispose of the
property; it is in another state where we have no idea of property values;
we suspect that the value suggested by the relative is inflated.  In such
cases the difficulties of determining value and ownership usually can't be
answered in time for the suspension.  It is also our experience that people
who believe in cryonics but, for various reasons, have not made pre-need
arrangements, in desperation, will say almost anything to get suspension
help.  This complicates getting straight answers on worth of and ownership
of real estate.

What we especially seek to avoid is taking real estate where the real
estate must pass to relatives by will, then the relative must deed it to us
or sell it so suspension money is available.  The situation creates
complications of an asset which is hard to properly value, takes time to
sell, and where legal challenges may come both on the ownership of the
property and on distribution by will.

Individuals in such a situation can sometimes have the relative frozen by
what we often consider rather primitive or basic methods, then kept on
dry-ice while the property is converted to cash or at least a good
appraisal obtained.

Given more warning, and if the member is willing to pay for costs of
appraisal so we have more reliable information on the worth of property, we
may well be able to do business.  It is the nature of cryonics that after
suspensions of many elderly people, the family home is no longer needed as
a dwelling place for immediate members of the family, and the executor will
be selling it anyway.  Why not let the equity in your home pay for some or
all of your suspension and long-term storage?  We also have situations
where the suspension of the first family member (let's say the husband) is
paid for by relatively liquid assets and is minimally funded.  With the
death of the second family member (let's say the wife), the family home,
car, jewelry, and furnishings are all sold, which pays for the second
suspension, and provides money which is placed in trust to benefit BOTH the
husband and wife.

Finally, anyone whose wealth is primarily in real estate and for various
reasons can't readily convert it into more liquid assets, is well placed to
bargain with any of the cryonics societies no matter WHAT THE
ORGANIZATION'S STATED POSITIONS IS ON TAKING REAL ESTATE.  If someone
offers us no liquid assets, but only real estate which is appraised at say
$1,000,000 for a suspension and long-term storage, and the potential client
makes it clear that half of this sum is an outright gift, would we be
interested?  Would we insist on more liquid assets?  No, and No, and come
all ye real estate millionaires!  We have sets of suspension forms just
waiting for nice people like you!

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American Cryonics Society                 (408)734-4200
                   FAX (408)734-4441
P.O. Box 1509
Cupertino, CA 95015
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