Epstein Secrets

ance Trust #2 dated September 13, 1999. • These policies, other than the Prudential policy, have a register 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 regis er date for the Prudenti

nce Trust #2 dated September 13, 1999. ) These policies, other than the Prudential policy, have a register 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.) CARRIER - - POLICY NUMBER AMOU

Summary of Coverage Individual Life Insurance Coverage-on Leon Black- • Split-Dollar Entity: AIF IV Management, Inc. • Policy owner: Norman Brownstein, Trustee under the Leon D. Black Insurance Trust N1 dated September 13, 1999. • These policies' register dates are September 1999. Carrier Policy

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

overage II. Summary of Coverage Individual Life Insurance Coverage on Leon Black • Split-Dollar Entity: AIF IV Management, Inc. • Policy owner: Norman Brownstein, Trustee under the Leon D. Black Insurance Trust 0I dated September 13, 1999. • These policies' register chutes are Scotenther 1999 Carrier Polic

ance Trust #2 dated September 13, 1999. • These policies, other than the Prudential policy, have a register 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

ein as Trustee. Trust #1 purchased $50 million of insurance on your life. Trust #2 purchased $100 million of insurance on the joint lives of you and Debra. Thereafter, the Trustee entered into a split dollar agreement (the "Agreements") between each Trust and AIF IV Management Inc. ("AIF"), as your em

comparing the various proposals. A. Background. In 1999, you created two insurance trusts (Trust #1 and Trust #2, collectively, the "Trusts") with Norman Brownstein as Trustee. Trust #1 purchased $50 million of insurance on your life. Trust #2 purchased $100 million of insurance on the joint lives of you and Deb

ssory notes from APO1-- to NewCo (if trapping income on the note payments, to avoid mandatory payments to children, is desired). e. The 2011 LLC and Debra (a beneficiary of the APO1 Trust) will then enter into an art use agreement, without any rent. We should consider who is to pay insurance on such ar

t split dollar arrangements should be terminated in accordance with prior discussions and analysis. Ada will circulate a memorandum she prepared for Norman Brownstein, who is the Trustee of the 1999 insurance trusts, summarizing the steps. 2. The insurance on Leon's life ($50 million face amount) likely will be t

ssory notes from APO1-- to NewCo (if trapping income on the note payments, to avoid mandatory payments to children, is desired). e. The 2011 LLC and Debra (a beneficiary of the APO1 Trust) will then enter into an art use agreement, without any rent. We should consider who is to pay insurance on such ar

t split dollar arrangements should be terminated in accordance with prior discussions and analysis. Ada will circulate a memorandum she prepared for Norman Brownstein, who is the Trustee of the 1999 insurance trusts, summarizing the steps. 2. The insurance on Leon's life ($50 million face amount) likely will be t

, 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

s a proposal regarding the split-dollar insurance arrangements among you, AIF IV Management Inc., an S corporation wholly owned by you ("AIF"), and Norman Brownstein, the trustee of your 1999 Life Insurance Trusts (the "Trustee") We discussed this proposal with Eileen Alexanderson, Ada Clapp and Tom Turrin at a m