EFTA02403670.pdf

From: Sent: To: Subject: Noam Chomsky Monday, November 6, 2017 9:24 PM jeffrey E. Fwd: Follow-up: Trusteeship, Domicile, Bainco Forwarded messag= From: Deborah Pechet Quinan<A> >4=pan> Date: Mon, Nov 6, 2017 at 12:19 PM Subject: Follow-up: Trustee=hi Domicile Bainco To: "Noam Chomsky <mailto )" <MEM <mailto: Cc: "Valeria Chomsk )&quo=• c=m <mailto >, "Richard Kahn <mailto: », Gene Landy > Dear Noam, Richard and I spoke this morning and there are sever=l items that I would like to make you aware of. In addition, I would=like to respond to your request for information regarding how you can rega=n control of the trusts. Items I need responses from you on are indicated in boldface type. 1. 40=A0 Rich will be reviewing all of the trust statements as =oon as he gets them from Max, as per the instructions I just sent to Max i= my earlier email. 2. 4>=A0 Rich has asked me to hold off preparing the letter you=requested that I prepare for your children, pending his review of the trus= statements. Please confirm that you agree with Rich on this. 3. 40=A0 Rich and I went over the trustee resignation and appoi=tment provisions of Carol's trusts. If Max resigns, an indep=ndent trustee who is also a professional trustee needs to be appointed in =is place. Harry as the remaining trustee would need to make this appointment so he would need to agree. If bo=h Max and Harry resign they both need to appoint the successor trustees; t=o trustees are required, one of whom must be independent in order to make =iscretionary distributions. You must approve appointments of all successor trustees. 1 EFTA_R1_01442676 EFTA02403670 a.l>=A0 Rich mentioned JP Morgan in this regard and they would=qualify as an independent professional trustee, as would other trust compa=ies. b.4,=A0 You need to approve the appointment of any successor t=ustee. Any successor trustee should be interviewed in advance regard=ng the information they would need from you, if any, in order to approve y=ur requests for discretionary principal distributions to from the trusts. 4. l>=A0 I have confirmed that, per the terms of the trust, Har=y has no say in making discretionary distributions of principal to you.4>=A0 This provision appears as paragraph 8.6 of Carol's trust. l>=A0 Likewise, if you were to serve as trustee, you would not be able to participate in any decisions regarding discretionary =istributions of principal to yourself. These limitations are in plac= for creditor protection and estate tax planning reasons and they are typi=al limitations on the ability of a beneficiary to make principal distribution decisions in his or her own favor. Noam, is the information=above a sufficient answer to your question regarding how you regain contro= of the trusts? I hope that by changing trustees you will be able to=obtain more financial flexibility than you have had with Max; but you can regain true control only if the trust funds=are distributed outright to you, in termination of the trusts, since you c=nnot serve as the independent trustee. Please let me know your thoughts and follow-up questions.<=u> Please let me know a con=enient time to speak regarding your change in residency from Massachusetts=to Arizona, as I have requested in several emails to date. A residen=y change for estate tax purposes must rise to the level of a change in domicile to remove you from the purview of Mas=achusetts estate taxes and I need to speak with you to get the details nec=ssary for this analysis. Please let me know when you are available for a telephone call regarding=this domicile issue. Please let me know if=you have contacted Gene regarding filing suit against Bainco with regard t= the IRA investments and what the next steps would be. Rich mentioned that you and he had discussed this. <=b> I look forward to hearin= from you. Best, Deborah Deborah Pechet Qui=an, Esq. II.M.4>=A0 Shareholder 2 EFTA_R1_01442677 EFTA02403671 Chair, Trusts & E=tates Group <https://maps.google.com/?q=255-EState+Street,+7th+Floor%C2c4A0%7=%C270A0Boston,+MA+02109&entry=gmail&sou rce=g> <= href="https://maps.google.com/?q=255+State+Street,+7th+Floor%C2%A0%7C=C2V0A0Boston,+MA+02109&entry=gmail &source=ga> I Boston, MA 02109 chttps://maps.google=com/?q=25S+State+Street,+7th+Floor%C2%A0%7C%C2%A0Boston,+MA+02109&en=ry=gmail&so urce=g> Direct: Cell Assistant -Jayne Mahoney: Office <tel:i > =C24ol Fax: e-mail: I www.riw.com <http://www.riw.com/> I BIO<Apan> <http://www.riw.com/attorney=deborah-pechet-quinank =U> NOTICE: This email with its attachments, if any, is intended solely for per=itted use by authorized recipients. If you are not an authorized recipient=of this email, your retention, transmission, disclosure, or use of this em=il is prohibited. If you received this email in error, please notify the sender and delete this email and it= attachments from your devices and systems. 3 EFTA_R1_01442678 EFTA02403672