[extropy-chat] Cryogenics Economics- Estate Tax deferral?

[David Lubkin]

Mike Lorrey wrote:

>However, in my research into using trusts for real estate purposes, I
>have found that you can roll the assets of one trust into another
>without penalties or taxes. So what if the first expires 21 years after
>you are dead? You roll it into another trust, and new trusts every 21
>years.

I don't believe this will work. You can privately ask the trustees to roll 
it forward in perpetuity but I'm not sure there's a legal mechanism that 
would hold them to it. If you try to put it into the trust document itself, 
my guess is either that clause would be stricken or the entire trust would 
be dissolved as unlawful.

>Yes, there are quite a number of trusts in NH that have served quite a
>number of purposes for more than 100 years after their benefactors
>deaths. I received a partial scholarship when I graduated high school
>from one such trust, which was instituted in 1910.

That's different. Charitable trusts are exempt from the Rule of Perpetuities.

Parliament established in 1601 the Statute of Charitable Uses, which is 
still referred to for its list of basic legitimate charitable goals (*) in 
every country that derives from English Common Law.

You could, perhaps, create a charitable trust for the benefit of cryonauts 
*as a class*, to be spent on medical research leading to reanimation, 
medical treatment in the form of reanimation and restoration of corpsicles, 
and our financial relief as indigent newcomers.

But you can't use it to park your money and get it back later, because 
that's not a charity. You have to use a jurisdiction without the Rule of 
Perpetuities altogether.


-- David Lubkin.


(*)  From 
http://ksghome.harvard.edu/~.phall.hauser.ksg/statute_of_charitable_uses.html :

An Acte to redresse the Misemployment of Landes Goodes and Stockes of Money 
heretofore given to Charitable Uses

>some for Releife of aged impotent and poore people, some for Maintenance 
>of sicke and maymed Souldiers and Marriners, Schooles of Learninge, Free 
>Schooles and Schollers in Universities, some for Repaire of Bridges Portes 
>Havens Causwaies Churches Seabankes and Highwaies, some for Educacion and 
>prefermente of Orphans, some for or towardes Reliefe Stocke or Maintenance 
>of Howses of Correccion, some for Mariages of poore Maides, some for 
>Supportacion Ayde and Helpe of younge tradesmen Handicraftesmen and 
>persons decayed, and others for reliefe or redemption of Prisoners or 
>Captives, and for aide or ease of any poore Inhabitantes concerninge 
>paymente of Fifteenes, setting out of Souldiers and other Taxes;

I guess corpsicles would qualify as "persons decayed"....