Introduction

Becker & House represents clients who have chosen cryopreservation through Alcor Life Extension Foundation. As part of that planning, we offer three specialized trusts designed to meet Alcor’s funding and compliance requirements while addressing our clients’ long-term goals.

These trusts fall into two broad categories:
– Funding Trust – designed to fund your cryopreservation through Alcor
– Revival Trusts – designed to preserve assets for your use after revival

Our firm works directly with Alcor to ensure that all trusts we prepare meet their requirements and are properly coordinated. Each type of trust serves a distinct purpose, and understanding the differences will help you choose the best fit for your goals.

Comparison Chart

Section 1: Alcor Funding Trust

**Q:** What is the purpose of the Alcor Funding Trust?

This trust provides one approved method for funding your cryopreservation with Alcor. It ensures that liquid assets are available and verifiable in advance of your legal death.

**Q:** Who serves as trustee?

You serve as the trustee while you are alive and have legal capacity. If you become incapacitated or when you die, a successor trustee will be appointed to act as needed to fulfill the trust’s purpose.  The trustee’s post-death obligations are minimal, and involve gathering the trust funds, distributing them to Alcor as needed for cryopreservation, and distributing any remaining funds in accordance with your wishes.

**Q:** How much must I fund the trust with?

The trust must hold at least twice the amount required by Alcor for your selected cryopreservation option. Proof of sufficient liquid assets must be provided to Alcor before approval.  Ongoing reporting can be required by Alcor to ensure adequate funding.

**Q:** Is the trust revocable?

Yes. You may revoke the trust at any time while living and competent. However, if you revoke it, Alcor is not obligated to provide cryopreservation unless alternate funding is provided.

**Q:** Can the trust be customized?

No. Alcor requires the Funding Trust to follow a standard form. Minor edits may be made for administrative reasons, but substantive changes will not be approved.

**Q:** What happens if I change my mind or my finances change?

If you revoke or withdraw the assets, those funds are returned to you. However, this will terminate Alcor’s funding assurance until a new funding source is approved.

**Q:** How does Becker & House assist?

Our firm prepares the trust, ensures compliance with Alcor’s requirements, and submits proof of funding for approval. This coordination helps minimize processing delays.

Section 2: Multi-Investor Future Income Trust (MIFIT)

**Q:** What is the MIFIT?

The MIFIT—short for Multi-Investor Future Income Trust—is a type of ‘revival’ trust. Its purpose is to preserve assets for your use after you are revived from cryopreservation.

**Q:** When and how is the MIFIT funded?

The trust is funded after your death, typically through your estate plan or a Payable on Death/beneficiary designation on an account or life insurance policy.

**Q:** Who manages the trust?

During your life, as long as you are competent, you act as Trustee.  Following your cryopreservation, or in the event you become incapacitated during your life, a corporate trustee—Trust Bank—serves as trustee. Once the trust is funded at your legal death, the trustee purchases shares in MIFIT Investments, Inc., which are held until your revival.

**Q:** What happens when I am revived?

When you are revived, the trustee will sell your shares in MIFIT Investments, Inc., and distribute the proceeds to you, providing financial resources for your new life.

**Q:** Is the MIFIT revocable?

Yes. The MIFIT is revocable while you are alive and have capacity. After your death or incapacity, it becomes irrevocable.

**Q:** How much can I contribute?

The MIFIT is designed for clients funding $500,000 or less. Clients with larger intended contributions should consider a Custom Revival Trust.

**Q:** What customization is available?

You may choose where funds go if you cannot be revived, whether to make optional annual charitable contributions to Alcor, and whether some funds may be used to help maintain your cryopreservation in an emergency.

**Q:** Can I change the investment approach?

No. The MIFIT operates as a pooled investment structure through MIFIT Investments, Inc., and individual investment direction is not available.

**Q:** Does Alcor need to approve my MIFIT?

No. The completed trust is sent to Alcor for their records, but formal approval is not required.

**Q:** What are common issues clients should be aware of?

Occasionally, clients wish to add custom terms or control how the funds are invested—these changes are not permitted in the MIFIT format. For more flexibility, a Custom Revival Trust is a better option.

**Q:** Do I need to have an estate plan in place, other than the MIFIT?

Yes, you should have documents in place to effectuate your wishes regarding your estate plan, in addition to the MIFIT Trust.  For clients who live in Arizona, we are happy to assist with that estate plan.  For clients in other jurisdictions, we can provide referrals and coordinate with your local estate planning counsel.

Section 3: Custom Revival Trust

**Q:** What is the Custom Revival Trust?

This is a fully individualized revival trust for clients who wish to preserve more than $500,000 or include detailed provisions for how their funds will be used during cryopreservation and after revival.

**Q:** How is it funded?

The trust is usually funded at your legal death through your estate or a beneficiary designation, but it can also be funded during your lifetime if desired.

**Q:** Who serves as trustee?

During your life, as long as you are competent, you act as Trustee.  Following your cryopreservation, or in the event you become incapacitated during your life, a corporate trustee serves as trustee. Becker & House assists in coordinating and recommending suitable trustee options.

**Q:** Is the Custom Revival Trust revocable?

Yes. It remains revocable during your lifetime while you have capacity, allowing you to adjust terms or revoke the trust entirely. It becomes irrevocable upon your legal death or incapacity.

**Q:** What makes it ‘custom’?

This trust allows broad discretion to design how funds are held, managed, and distributed during your cryopreservation and after revival.  A Custom Revival Trust allows for a good deal of flexibility.  Alcor and the trustee must review the final trust terms, but generally are willing to accept custom provisions as long as they do not unduly expand their respective obligations under the trust. We do our best to incorporate the client’s wishes into the trust.  However, in some cases, highly specific or conditional provisions may be rejected as unworkable.

**Q:** Can I specify what happens to the funds after revival?

Yes. You may choose for the funds to remain in trust or be distributed to you directly. Some clients include provisions for ongoing family or philanthropic support.

**Q:** Can I include charitable gifts to Alcor?

Yes, if you wish to make charitable gifts to Alcor, the Custom Revival Trust can provide for that.

**Q:** What happens if my requested provisions are too complex?

In those cases, Becker & House can include a non-binding ‘statement of wishes’ to express your preferences, but we encourage simplicity to avoid issues with trustee or Alcor approval.

**Q:** How are the funds invested?

The Custom Revival Trust allows broader investment flexibility than the MIFIT. Clients may offer guidance as to how they would like trust funds invested.  However, once the client is cryopreserved, investment decisions ultimately are made by the corporate trustee, and must align with the trust’s purpose and fiduciary standards.

**Q:** Can I change terms later?

Yes. While you are alive and have capacity, the Custom Revival Trust may be amended or revoked. Once funded at legal death or upon incapacity, it becomes irrevocable.

**Q:** Do I need to have an estate plan in place, other than the Custom Revival Trust?

Yes, you should have documents in place to effectuate your wishes regarding your estate plan, in addition to your Revival Trust.  For clients who live in Arizona, we are happy to assist with that estate plan.  For clients in other jurisdictions, we can provide referrals and coordinate with your local estate planning counsel.

Closing Notes

Becker & House is honored to assist clients planning for cryopreservation with Alcor. Each trust we prepare is designed to balance your personal goals, Alcor’s operational requirements, and long-term administrative feasibility.

We encourage you to contact us early in your planning process so we can help you determine which trust—or combination of trusts—best aligns with your objectives.

Disclaimer

This FAQ is provided for informational purposes only and does not constitute legal advice. Establishing a trust involves individualized legal and financial considerations. You should consult with Becker & House or another qualified attorney for advice specific to your situation.

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They have managed to save quite a bit, and are currently making “catch-up” contributions to increase their savings.  With good investment advice, they expect to ultimately have more than they need to live on after they retire, so they want to make sure they have a good plan in place to pass any remaining IRA benefits on to their kids.  They’ve gotten advice on this from each of their trusted professionals, but still aren’t quite clear on what they’re supposed to do.  Why is this so hard to figure out?!

What’s the Deal with IRAs?

IRAs and 401(k)s (which we’ll refer to as “retirement benefits” or “retirement accounts” for ease), require special consideration by tax, financial, and estate planning advisors.  Why?  Because they can be such valuable investments that we want to preserve and plan for them, yet they’re also subject to a complex web of tax rules.  What makes these assets so valuable?  A traditional (i.e., non-Roth) IRA or 401(k) is tax-deferred, meaning that it is allowed to grow and accumulate income tax-free until money is withdrawn from the account.  For those who start saving early, years of tax-free compounding can lead to substantial growth, causing the retirement benefits to outperform other investments that generate income tax.

Ideally, these retirement accounts would remain untouched for as long as possible, because of this tax advantage.  However, in order to preserve the status of these accounts as retirement savings, rather than a tax-preferred method of accumulating wealth for future generations, U.S. tax law requires the account owner to begin taking distributions at a certain age, currently 73 (for some, these distributions can be postponed until retirement, if occurring later).  If you are close to or over that age, you likely are familiar with these “required minimum distributions” or RMDs.

Similarly, if you do not withdraw all of your retirement funds during your life, the beneficiaries who inherit them will also be required to take distributions from the account.  How much do your beneficiaries have to withdraw each year and for how long?  That’s where things get complicated.  Prior to 2020, individual beneficiaries were able to “stretch” distributions from inherited retirement accounts over the beneficiary’s life expectancy.    It was also possible to name a trust as beneficiary and stretch RMDs over the life expectancy of the oldest trust beneficiary if the trust met certain requirements.  However, a change in the law in 2020 limited this life-expectancy “stretch” to only certain beneficiaries, requiring other beneficiaries to withdraw the funds within a shorter period of time, effectively accelerating the payment of income tax and lessening the benefit of the tax deferral.  The 2020 law (known as the SECURE Act) also introduced a complex set of rules for determining which trust beneficiaries are “counted” for purposes of determining RMDs for trusts named as retirement account beneficiaries.

This change in the rules limited some of the advantages of planning for retirement benefits, and made it difficult to determine how long beneficiaries will be able to stretch RMDs in many cases.  These changes have made it challenging for attorneys and financial advisers to know how to best plan for retirement benefits, often leaving clients understandably frustrated and confused.

Some Good News

Fortunately, there are still ways to maximize the benefits of your IRA or 401(k), both during your life and for your beneficiaries who may inherit them after your death.  Your estate planning attorney and other advisors can work together to recommend the best way to plan for these assets.  Here are a few points to consider when you talk with your estate planning team about your retirement benefits:

1. For those who are charitably inclined, traditional IRAs and 401(k)s can be a great source of funding for charitable bequests in your estate plan.  This is because the beneficiary of those accounts will have to count the money as taxable income when it’s withdrawn from the account, but a qualified charitable organization is exempt from income tax.  So, while a $500,000 IRA may actually be worth $350,000 to your child or spouse after accounting for income tax, it is worth the full $500,000 to a charity that will not pay tax on it.  Using your retirement benefits to fund charitable gifts and leaving other assets to your family members can provide tax-efficient results for everyone.
2. Additionally, “Qualified Charitable Distributions” from an IRA can provide income tax benefits to the IRA owner during life. For those who do not need their annual RMDs and are otherwise inclined to give to charity, funding annual charitable gifts with distributions directly from an IRA can be a strategic way to maximize the tax benefits of charitable giving.
3. Some beneficiaries still are able to stretch RMDs from inherited retirement benefits over their life expectancy. Those beneficiaries include (among others) a surviving spouse and a beneficiary who is disabled or chronically ill.  For clients with beneficiaries who fit into those categories of “eligible designated beneficiaries,” it is important to ensure that the estate plan is structured to take full advantage of those beneficiaries’ ability to stretch RMDs.
4. In addition to the life-expectancy stretch, a surviving spouse who inherits an IRA or 401(k) receives certain advantages over other beneficiaries, including the ability to roll the account into the surviving spouse’s own IRA, and to potentially delay taking RMDs if the deceased spouse was not yet required to take them. It is important to understand these advantages when selecting beneficiaries.
5. Despite the complex rules relating to trusts as beneficiaries of retirement benefits, often it still makes sense to name a trust as beneficiary. Trusts can provide benefits such as protection against creditors, maintaining inherited property as separate property of the beneficiary (rather than part of the marital community with the beneficiary’s spouse), management of inherited funds, and more.  If the plan otherwise calls for leaving a beneficiary’s property in trust, it typically should be structured so that the retirement accounts pass in trust as well.  Your estate planning attorney can ensure the trust contains the provisions needed to maximize the period for taking RMDs, to the extent possible.

Estate planning for retirement benefits is a subject that is undoubtedly complex and can be confusing.  If you’re not sure what to do with your IRA or 401(k), talk to an estate planning professional who can help you make sure you you’ve got a plan in place that works for you and your family.

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Before the court can appoint a guardian or conservator, it must understand the person’s medical or mental-health condition. Knowing what the Health Professional’s Report is, when it is required, and how it fits into the legal process will help you feel more prepared and confident as you move forward.

Filing a petition for guardianship or conservatorship in Arizona can feel overwhelming, especially if you are doing it for the first time.

What is the Health Professional’s Report?

The central focus of a guardianship or conservatorship matter often involves someone who is struggling to make safe or informed decisions about their personal care, finances, or daily living needs.

The Health Professional’s Report is a document completed by a qualified medical or mental-health professional—such as a physician, psychologist, or nurse practitioner—following an evaluation of the adult who is the subject of a guardianship or conservatorship petition. Among other things, the Health Professional’s Report explains the adult’s diagnoses, their ability to make decisions, whether assistance is needed, and any recommendations for care.

Because the report contains private medical information, it must be filed as a confidential document (not to be confused with filed “under seal”) as outlined in the Arizona Rules of Probate Procedure.

When is the Report Required?

Guardianship Proceedings

When someone files a petition to appoint a guardian, Arizona law requires clear and convincing evidence that the person is incapacitated and unable to make responsible medical or mental health care decisions. In practice, the Health Professional’s Report is required because it provides the underlying evidence needed for the judge to consider the petition. Courts rely heavily on this report to determine whether a guardian is necessary and appropriate.

Conservatorship Proceedings (Optional but Common)

For petitions involving conservatorships—where the court appoints someone to manage finances and property—the law is more flexible. Here, the court may request a Health Professional’s Report, but it is not automatically required in every case. Judges may request such a report when there is an objection about a person’s ability to manage their financial affairs as a result of a medical condition, cognitive impairment, or mental-health issue.

If the court orders an evaluation, or if an examiner was appointed during the process, the Health Professional’s Report must be completed and made available before an order is entered. That being said, it is appropriate to include the Health Professional’s Report as part of the initial filing even though it is not required for appointment of a conservator.

Why is This Report Important?

The report provides a professional assessment of the person’s physical and mental capabilities, including whether they can make decisions, manage money, live independently, or handle daily care. Because guardianship and conservatorship matters involve the court entering orders restricting someone’s fundamental liberty rights, the court must be certain that intervention is necessary (hence, the elevated “clear and convincing” standard). The Health Professional’s Report helps ensure that the court appoints a guardian or conservator only when appropriate, and only to the extent needed.

In cases where the guardian seeks authority to consent to inpatient (as opposed to outpatient) mental health treatment, the Health Professional’s Report includes a separate evaluation from a licensed psychiatrist or psychologist for such authority.

Practical Takeaways:

• The Health Professional’s Report must be completed before the Court appoints a guardian, often at the same time the initial petition is filed or shortly thereafter.
• A Health Professional’s Report is not required if the petition only seeks appointment of a conservator; however, it is a better practice to include the report for the court’s consideration.
• The evaluator includes details about the person’s condition, limitations, and needs.

Summary

If you are filing for guardianship in Arizona, expect to provide a Health Professional’s Report as part of the required evidence. For conservatorships or other protective orders, the judge may request one, depending on the circumstances; however, it is a good practice to include such a report even though it is not required for the appointment of a conservator. Understanding the purpose and requirements of this report can make the process smoother and ensure you provide the court with the information it needs to protect your loved one appropriately.

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