X-Message-Number: 9847
Date: Tue, 2 Jun 1998 20:16:47 -0800
From: American Cryonics Society <>
Subject: Individual Trusts

Both Saul Kent and Robert Ettinger recently commented upon the use of
individual trusts to fund cryonic suspensions.  The American Cryonics
Society ("ACS") makes use of the individual trust as its primary means for
funding long-term cryogenic storage for its suspended members.

Robert also briefly mentioned the possibility of establishing such a trust
in conjunction with providing funding through a cryonics society.  As
Robert knows, several ACS members have individual trusts as well as
providing funding through the Cryonics Institute.  By the way,
congratulations, Robert, on the Cryonics Institute's 28th suspension!

An ACS member may either:

1. Establish a trust for himself/herself during the member's lifetime, or

2. Instruct the American Cryonics Society to establish a trust, or
dedicated fund, to be set up after the member deanimates.

Members have more control over trust provisions if they set up the trusts
themselves.

Unless the member is prepared to do periodic review of the trust and update
it with changes in trust law and cryonics technology, then simply
instructing ACS to establish a trust may be better.

ADVANTAGES TO THE USE OF THE INDIVIDUAL TRUST

What advantages are there to use of the individual trust (by a cryonics
society) as opposed to either A) having the cryonics society own and manage
all funds; or B) having a master trust for managing all assets of members
in suspension?  Here are a few:

Lawsuits

One possible advantage is insulation against suits.  The exposure to suit
by a cryonics society is tremendous.  Anytime there is a lot of money
involved, there will be people to file suits to try to get their hands on
the funds.  With individual trusts, even if a suit is successful against
the cryonics society, or against one of the trusts, the funds of the other
trusts are (generally considered) safe.

Possible Future Benefits to the Individual

An individual who has significant funds may wish to have those funds
primarily used to keep him/her in suspension, reanimated, and even returned
to the individual upon reanimation.  It is likely that such a scenario
would mean that the trust is subject to taxes, but some people are willing
to make this trade.  Other people are content to become the successor
trustee, should they be reanimated.  Provisions are made to use some of
these funds for research, so this selection isn't as selfish as it may
sound.

Motivation

A lot of us "true believers" are intent on leaving the bulk of our assets
to benefit cryonics.  Other people want other charities, relatives, or
friends, to get the bulk of their estates, and only provide minimum funding
for cryonics.  It may be that people will be more motivated to provide
adequate funding if there is the possibility of them benefiting more
directly from their money and not simply contributing more to the
"community chest."

Spill-Over Provisions

Many ACS members have provisions in their trusts which make the income from
the trust funds available for use for any ACS members whose trusts are not
adequate to keep them in suspension (without invading the principal).  This
provides a kind of mutual assistance between the trusts, while still
maintaining the separate identities.

ACS Changed Its Program

For what it is worth, up until about 1981, the ACS program was to simply
have funds be managed by the society.  This was similar to the program of
CI, and Alcor (until just recently).  Only after a comprehensive legal
review and consideration of various problems which had confronted cryonics
societies to that date, did ACS adopted its present program.

Long life,

Jim Yount




=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+American Cryonics Society
(650)254-2001
                      FAX (650)967-4444
P.O. Box 1509
Cupertino, CA 95015
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