Epstein Secrets

the Trustees may pay him, income and principal at any time and for any purpose. c. Should Leon become incapacitated, the Trustees may make gifts to Debra, descendants, Judy Black, Shirley Black, and charitable organizations. 3. Upon Leon's Death a. Tangible personal property. Leon is to identify spe

ebra survives, any items identified as part of a child's art collection and held in Debra's marital trust will pass to such child's Legacy Trust at Debra's subsequent death). If a child predeceases Leon leaving descendants, his or her designated art collection will be divided and held in separate Leg

The Executors will pay any outstanding charitable pledges made during Leon's lifetime. 2. Residuary Estate: All of Leon's property will be added to the Revocable Trust. 3. Executors a. Debra, Barry Cohen and Richard Ressler will be co-Executors. b. Successors i. John Hannan will be designated as successor Execut

ing your lifetime, if you were to become incapacitated, the Trustees could continue to manage and invest the trust assets and make distributions to Debra and your descendants. Your Will Article I. Family. You recite that you are married to Debra and that you have four children, Benjamin, Joshua, Al

al and resignation of trustees, and changing the situs of a trust should that become advisable (for example, to reduce State income taxes). Funding the Revocable Trust with a portion of your assets (such as art or interests in Black Family Partners) during your lifetime should not result in any tax consequences or

if the loans that Leon has received from family trusts are repaid in kind with BFP interests or artwork after the death of the survivor of Leon and Debra. However, the "estate administration" exception generally can be utilized to exempt such transactions from the self-dealing rules if such repayments

to include the Revocable Trust. VII. Probate Considerations We recommend consideration be given to retitling substantial assets into the name of the Revocable Trust during Leon's lifetime in order to avoid the need for probate, to provide an uninterrupted succession of control in the event of Leon's death, and