If you are a cryonicist contemplating your future in
cryopreservation, then trust based estate planning, and specifically, Personal
Revival Trust™ planning should be at the forefront of your thoughts.
What is a Personal Revival
Trust™? A Personal Revival Trust™
is a revocable living trust created during your lifetime so that while you are
alive and well you are in complete control of all of your assets as both the
trustmaker and the initial trustee. You
continue to make all your investment decisions, distribution decisions and the
trust uses your social security number as its tax identification number.
Your Personal Revival Trust™ will include provisions that
address the appointment of a successor trustee in the event of your mental
disability so you can ensure the provisions of your trust will be carried out
even when you may no longer have the mental capacity to do so on your own
behalf. These provisions can include
instructions regarding your care during mental incapacity, as well as providing
for any loved ones, including pets.
Then, at the time of your "legal death" and
cryopreservation, your assets will continue to be managed by your selected
trustee for your future benefit (as well as for the benefit of others you may
name as lifetime beneficiaries.) You'll want to be sure and have an active
beneficiary during the time of your cryopreservation so your trust won't be
invalidated for lack of a beneficiary.
Many cryonicists select their cryopreservation organization (Alcor or
Cryonics Institute) as a beneficiary to insure the continued viability of these
organizations.
Upon reanimation, your trust will terminate and the trust
assets be distributed outright to you. In
the event there is an event or
development that permanently prevents your reanimation, an alternate
beneficiary should also be selected.
This "final" beneficiary should likely be an organization or
organizations so the likelihood of its existence is insured.
In order to provide the maximum flexibility for your
Personal Revival Trust™ you'll ultimately need to name a corporate trustee, an
organization that will provide continuity for the period of time you are in
cryopreservation and who has the expertise to manage the trust assets over a
long period of time.
A trust protector should also be used, either an individual,
and then ultimately an organization that can hold powers that will provide for
unforeseen events that may occur in the future.
To get started with your Cryonics Estate Planning, please
contact The Law Offices of Hoyt & Bryan, attorney Peggy Hoyt at
407-977-8080 or Peggy@HoytBryan.com. The
first step is a brief telephone consultation to discuss the planning
process. Peggy is available by
telephone, skype or in person to facilitate planning for clients who are out of
state. She can provide a Florida based
plan or work with local counsel to incorporate your cryonics plan into an
estate plan created in your home state by your choice of counsel.
Upon the mutual decision to work together, your first
meeting is a Discovery and Decision Dialogue for the purpose of getting to know
you, your family, your hopes, wishes and desires related to your cryonics plan
and its funding. Thereafter, there will
be a Design Meeting for the creation of your uniquely created Personal Revival
Trust™ and supporting directives. Ultimately,
there will be a final review of your cryonics plan and Signing Ceremony
(conducted either at our offices near Orlando, Florida; in local counsel's
offices; or with witnesses and a notary of your choice).
We can help facilitate the integration of your assets into
your Personal Revival Trust™ by becoming a member of our Estate Security Plan (ESP)
or you can follow the instructions for funding provided with your cryonics
estate plan. Either way, owning your
assets correctly insures that your cryonics plan works the way you intend.
To get started, request a Personal Revival Trust™
introduction packet today by calling 407-977-8080 or emailing Peggy@HoytBryan.com.
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