The next Cryonics UK meeting is getting close now, anyone attending the meeting on Saturday 13th January 2018 in Sheffield are welcome to bring questions to the meeting for Chris Morgan to answer, or email to him ahead of the meeting.
In Part 1 of FAQ’s we covered some real life questions that had been submitted to the Unusual Risks office, this is the second Part with further FAQ’s focused on Trust Planning.
Wills & Trusts
Q) Does the creation of an absolute trust document also require having my own a will?
A) The absolute Trust Documents that are required by The Cryonics Institute and Alcor Life Extension Foundation, will insure that your wishes are carried out, as the Life Insurance policy from then is separate to your estate. It is however a very good idea to make a will clarifying your wishes around Cryonics and to make sure your family are aware of your Cryonics Membership agreement.
How Many Trustees
Q) How many Trustees do you recommend when setting up an Absolute Trust?
A) We recommend three Trustees, with a balance of at least two in the UK. Normally there is a Trustee from either Alcor or Cryonics Institute, a second from Cryonics UK (if you are a member) and then we also recommend you appoint a family member or close friend, who is friendly towards your Cryonics wishes. Remember that the trustees will actually handle the proceeds of your policy collectively and make sure your wishes are carried out.
Costs Of Trusts
Q) What is the cost of setting up an Absolute Trust? or a Fixed Trust with a solicitor?
A) We have met clients who have been asked to pay between £1,000 and £1,500 for the creation of a Fixed Trust with a solicitor, which of course is very expensive. Especially when most Life Assurance companies offer some form of suitable Trust documentation that can be used, when setting up your policy. Unusual Risks have a policy of helping you create your Absolute Trust document free of charge, when cover is taken out through us.
Topics for Part 3 – Questions and Topics will be directly from the Cryonics UK January meeting.
link http://www.cryonics-uk.org/training.html
Unusual Risks are the UK’s leading financial advisers offering specialist advice on Life Insurance for the purpose of funding Cryonics.
For more information on Cryonics and Insurance in the UK you can contact Unusual Risks by phone on 0845 474 3075. Email at Enquiries@unusualrisks.co.uk or visit us online at www.cryonicsinsurance.co.uk
Unusual Risks are the approved Insurance agents in the United Kingdom for both Alcor Life Extension Foundation www.alcor.org and The Cryonics Institute www.cryonics.org
People in the United Kingdom wanting to know more about the subject of Cryonics should contact Cryonics UK at www.cryonics-uk.org