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 =+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+ Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=9847