X-Message-Number: 12769 Date: Sun Nov 14 05:37:18 1999 PST Subject: Re: Taking Your Money With You From: Edgar W Swank <> Bryan asked in CryoMsg 12725 >Concerning having your money after cryonic reanimation... > >I was wondering why cryonic service providers (such as Alcor and CI) >can't do more to assist us in this. For instance, if you had a $300,000 >LI policy, $50,000 could go for the costs of neurosuspension. While the >remaining $250,000 could also be collected by Alcor, and Alcor could put >it in a separate bank/brokerage account. The account would be in Alcor's >name. They would technically have full rights/ownership to the money. >But they could make a good faith and/or contractual promise to use the >money for the individual's reanimation costs and provide spending money >for the individual's 2nd life cycle. This is precisely the program of the American Cryonics Society. Although we allow our members to set up their own trusts if they wish, most of our suspension funds are legal owned by ACS. But we segregate these funds by patient. Funds contributed by/for one patient cannot be used for another, unless permission is given by the first patient. Funds remaining usused after expenses for cryopreservation, long-term storage, revival and rehabilitation in the future, will be simply returned to the revived patient. Further, since ACS is both non-profit and tax-exempt, investment earnings of patient-dedicated funds are tax-free. Currently, except for short-term needs, these funds are not kept in a bank account, but are invested in a professionally managed package of mutual funds. We encourage members of other cryonics organizations to also become ACS members, and let ACS control everything beyond the minimum funding required by your primary cryonics organization. In my own case, I'm retired now. I don't want to have to work again after I'm revived; that is I want a choice. Edgar W. Swank <> President - American Cryonics Society http://www.jps.net/cryonics/ ___________________________________________________________________ Get the Internet just the way you want it. Free software, free e-mail, and free Internet access for a month! Try Juno Web: http://dl.www.juno.com/dynoget/tagj. Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=12769