recent magazine feature: you can take it ($$$) with you

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RibJig
Posts: 54
Joined: Tue Nov 10, 2015 4:02 pm
Relationship with Alcor: Member

recent magazine feature: you can take it ($$$) with you

Post by RibJig » Sun Jun 09, 2019 8:01 pm

If anyone has made arrangements with Raymond James rep
for part-all of their wealth to be available upon revival & are
willing to comment about process, please...
I believe service costs $5K total...???

criley
Posts: 138
Joined: Wed Oct 05, 2011 4:34 pm
Relationship with Alcor: Member
Location: US

Re: recent magazine feature: you can take it ($$$) with you

Post by criley » Wed Jun 12, 2019 3:22 pm

Hi,
I haven't yet, but did just recently email the attorney. At $5000, that is a good price to create a trust, in my opinion and based on recent experience redoing our complete estate plan.

Whether the Alcor model or this will work is unknown, but it is like cryonics itself, it is better to try and have the chance of success than to not try at all.
Last edited by criley on Mon Jun 17, 2019 10:42 am, edited 1 time in total.

Frosty
Posts: 20
Joined: Sun Nov 26, 2017 7:42 pm
Relationship with Alcor: Member

Re: recent magazine feature: you can take it ($$$) with you

Post by Frosty » Wed Jun 12, 2019 7:04 pm

In my opinion, the most glaring problem with any trust fund developed under current laws for the purposes of preserving the wealth of a cryo-patient for an indefinite period of time is that any contracts defining the trust will necessarily be built around the legal definitions of personhood that exist today (and thus may require the patient to be brought back as a biological human in order to legally withdraw funds from the account). If a patient is instead restored to life in a manner that is inconsistent with current legal definitions of personhood (with a fully synthetic body, for example) or assigned an entirely new legal identity upon revival, they may have no legal means of claiming the trust, since from a legal standpoint, it is possible they will no longer be considered the original beneficiary of the account. To guard against this outcome and the many other unknowns of future law, I believe it would be more practical to create a trust that can be claimed by any beneficiary who can prove their identity by providing correct answers to a series of questions known only to the patient and (if storing funds in a cryptocurrency) the private encryption key needed to unlock the account. Under this approach, as long as Alcor can restore the patient’s memories and identity in full, the revived individual should easily be able to prove their identity and thereby gain control of the trust. To provide an additional incentive for revival, the trust could also stipulate that Alcor is entitled to a certain percentage of the trust if and when it is successfully claimed by its beneficiary.

In short, since any trust fund that aims to preserve the wealth of a legally dead patient will be on shaky legal footing to begin with (and likely open to creative reinterpretation by future lawyers), the goal should be to construct a trust fund such that it is physically impossible for any funds to be withdrawn from it unless its true owner is revived with most of their memories intact.

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