Epstein Secrets

re presumed to mirror those in Leon's documents. • Administration expenses are assumed to be $5 million in Leon's estate and are assumed to be 2% of Debra's probate estate. • Valuation discounts totaling 30% are applied to the value of Black Family Partners. L.P. interests. • The value of the GRATs i

ghest Federal Estate Highest New York Estate Credit Tax Rate Tax Rate 2014 5.340,000 $ 2,081,800 40% 16% Notes and Assumptions: • Leon and Debra are presumed to die in 2014 with Leon immediately predeceasing Debra. • Debra's Will and Revocable Trust provisions are presumed to mirror those in

Estate Planning Overview Presented to: Leon D. and Debra R. Black Overview of Estate Plan as of April 16, 2014 May 16, 2014 Nancy A. Kistler, CFP@ Aaron Shamshoian, CFP@ Managing Director Vi

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

An amount equal to Debra's remaining GST exemption will pass to the 1997 GST Exempt Trust. d. The balance of the trust property will be paid to the Leon D. Black Family Foundation. EFTA00584947 ii. If Debra predeceases, the balance of the trust property will pass to the Leon Black Family Foundation.

of Delaware, Administrative Trustee EFTA_R1_01945047 EFTA02672198 Stet) Two: Leon Sells AIF IV Management Inc. to 2011 Trusts For tax reasons, Debra resigns as Trustee from the 2011 Trusts. Each of the the 2011 Trusts purchases from Leon 25% of the stock of AIF IV, valued using CSV of the policie

ep Three: Termination of Split-Dollar Agreements Because AIF IV's business operations ceased in 2007, the split-dollar agreements between it and the Leon D. Black 1999 Life Insurance Trust #1 ("Trust #1") and Trust #2 ("Trust #2") terminated at that time. AIV IV continued to honor the agreements but had t

s; US Trust Company of Delaware, Administrative Trustee EFTA00583245 Step Two: Leon Sells AIF IV Management Inc. to 2011 Trusts For tax reasons, Debra resigns as Trustee from the 2011 Trusts. Each of the the 2011 Trusts purchases from Leon 25% of the stock of AIF IV, valued using CSV of the policie

ep Three: Termination of Split-Dollar Agreements Because AIF IV's business operations ceased in 2007, the split-dollar agreements between it and the Leon D. Black 1999 Life Insurance Trust #1 ("Trust #1") and Trust #2 ("Trust #2") terminated at that time. AIV IV continued to honor the agreements but had t

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.

Detailed Presentation - Residue to Charitable Lead Annuity Trusts - DRB survives LDB Overview of Estate Plan of Leon D. and Debra R. Black As of June 30. 2016 Apollo Global Management $15.15/Share Date: October 4, 2016 EFTA00299513 Leon D. and Debra R. Black Ove