Epstein Secrets

Trust—Owned Life Insurance was implemented on Leon's life and $100,000,000 of Second-to-Die, Trust—Owned Life Insurance was implemented on Leon and Debra's lives. The policies utilized are Variable Universal Life Insurance policies with a variety of large, high quality carriers. Below is a summary

ance Trust #2 dated September 13, 1999. • These policies, other than the Prudential policy, have a resister date of April 28. 1999 in order to save Debra's insurance age. (Prudential utilizes "current age" vs. "closest age", therefore backdating was not necessary and the register date for the Prudenti

er reviewing this information with John Hannan on several occasions, consulting our corporate counsel, Larry Brody, discussing this information with Tom Turrin, Leon's CPA, and considering the trusts have no equity (cash value in excess or premium advances by the company), the consensus was to "stay the co

e DRB 2012 Family Trust Agreement and the anticipated tax consequences of certain of its provisions. I. The DRB 2012 Family Trust A. Trust Fund Debra will be the creator of the trust. It is anticipated that she will transfer assets valued at an amount equal to Debra's remaining gif tax credit to t

he assets remaining in the trust at the death of the survivor of you (including all appreciation on the original gift) should pass to the trusts for Debra's issue without federal or New York estate tax. D. Income Tax During Debra's lifetime, the primary trust will be a grantor trust. This means that

commend that Debra allow portions of her GST exemption to be allocated to her transfer to the trust on her gift tax return. • We will discuss with Tom Turrin exactly how much gift tax credit Debra has left. -3- DM US 39870447-2.088835.0011 EFTA00586972 C. Estate Tax The trust agreement does not give

n" with power to make all decisions regarding the buying, selling, owning and pledging of "Investment Assets." The original Members, Leon (99%) and Debra (1%), initially contributed $70,000,000 of fine art. On June 27, 2012 Debra assigned her 1% interest to Leon but I have not seen documentation to t

an Exhibit B. EFTA00600158 Page 2 Included on the Exhibits to the bill of sale are roughly 30 bronzes. On July 30, 2012, Eileen sent an email to Tom Turrin indicating that she located a list of art that was contributed to Narrows on December 2, 1996, with a pro forma balance sheet attached (I do not ha

ing them check with Melanie. As it turns out Leon did not sign the engagement letter. She still has it, so we can adjust as needed. I assume to have Debra engage Jib- correct? Coincidentally, in my mail today I received Alan's bill for Feb1-March 31st. Definitely needs cleaning up and separation. I ask

eceived Alan's bill for Feb1-March 31st. Definitely needs cleaning up and separation. I asked Ada to address. Finally all bills for trust acctg from Tom Turrin should be addressed to the Trustees of the '06 trust also-correct? Eileen Alexanderson Black Family Partners. L.P. do Apollo Management 9 W 57th

, the Trustee purchased $50 million of insurance on your life (three separate policies), and $100 million of insurance on the joint lives of you and Debra (five separate policies). The Trustee entered into two split-dollar agreements with you and AIF, one for the policies on your life, which are held

McDermott Will&Emery New Yolk Date: December 5, 2011 MEMORANDUM cc: Eileen Alexanderson Ada Clapp Tom Turrin To: Leon Black From: Carlyn McCaffrey Elyse G. Kirschner Re: Split Dollar Insurance Proposal This memorandum explains a proposal regarding th