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

chard Ressler will become co-Trustees during Leon's life and the administration of his estate. ii. Debra, Barry and Richard will be co-Trustees of the Marital Trust. iii. Successors I. John Hannan will be designated as successor Trustee to Barry. 2. Allison Ressler will be designated as successor Trustee to Ri

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

st Fund will be held in the Marital Trust. 2. If Debra renounces any portion of the Residuary Trust Fund, the renounced property will not pass to the Marital Trust but will instead pass to the "Family Trust" described below. 3. If Debra predeceases you, the Residuary Trust Fund will be divided into shares fo

iscounts will "disappear". Assuming no principal repayments, the note value will remain frozen at the discounted value. • The Overview assumes that Debra has transferred title to all residences to Leon. Leon's new Will and Revocable Trust are drafted as if Leon owns all residences individually. In fac

are owned jointly by Debra and Leon. Unless she transfer her title to Leon, the residences will pass to her outright on Leon's death rather than to the Marital Trust (and later the Heritage Trust) as Leon wants. Leon needs to be reminded of this. • The Overview assumes Leon selects $200 million of art from his e

Personal Residences. How does Leon want to deal with the residence issue? To refresh your recollection, all residences are owned jointlyby Leon and Debra except: • 190 Narrows Road, Bedford, NY is in Debra's name (one of three Narrows Road parcels—the other two are in joint name). • 750 Meadow Lan

e Meadow Lane parcels—the other two are in joint name). This means that if Debra survives Leon, at Leon's death, only 750 Meadow Lane will pass to the Marital Trust under Leon's Revocable Trust. Debra will own all other residences outright. As of August 15, 2013, we estimated the value of the residences at $103

scounts will =disappear". Assuming no principal repayments, the note value =ill remain frozen at the discounted value. • The Overview assumes that Debra =as transferred title to all residences to Leon. =nbsp; Leon's new Will and Revocable Trust are drafted as if Leon =wns all residences individually.

are =wned jointly by Debra and Leon. Unless she transfer =er title to Leon, the residences will pass to her outright on Leon's =eath rather than to the Marital Trust (and later the Heritage Trust) as =eon wants. Leon needs to be reminded of =his. • The =verview assumes Leon selects $200 million of art from his e

) the 2006 Trust Trustees are Leon, John and Richard and (ii) the Trustees of the 1997 Trust are Barry, John, Richard nDebra. Does Leon want to add Debra as a co-Trustee of the the APO1 and APO2 trusts after his death (she is only added as a Trustee of the Marital Trust, if any)? Ada Clapp Black Fa

John, Richard nDebra. Does Leon want to add Debra as a co-Trustee of the the APO1 and APO2 trusts after his death (she is only added as a Trustee of the Marital Trust, if any)? Ada Clapp Black Family Partners IRS Circular 230 Disclosure: Pursuant to IRS regulations, I inform you that any tax advice contained i

24,216.800 24.218.800 Page 3 of 13 EFTA00299516 Leon D. and Debra R. Black Overview of Estate Plan as of June 30, 2016 Estate Flow Chart Upon Debra's later Death - LDB predeceased Trustees 04 Mantel Trusts upon Debra's death Barry Cohen and Richard RS90(0 Debra Black Marital Trusts (Under L.

sumed to be $35 million in Leon's estate and $5 million in Debra's estate, which is allocable $1 million to Debra's probate estate and $4 million to the Marital Trust. 4. 40% of expenses to run the family office are allocable to Leon's estate. The remainder is allocable to the Trusts. 5. Valuation discounts total