Epstein Secrets

"Marital Trust") in accordance with the following provisions: (A) During the life of DEBRA, the Trustees shall pay to her all of the net income of the Marital Trust, at least quarter-annually. (B) (I) At any time and from time to time during the life of DEBRA, the Trustees, in their sole and absolute discreti

the expiration of nine (9) months from the date of the Grantor's death, a copy of which shall be delivered contemporaneously to the Trustees of such Legacy Trust that shall receive a selected Collectible, and shall terminate completely if and to the extent it is not validly exercised within such time period.

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

f this. • The Overview assumes Leon selects $200 million of art from his estate and $100 million from the Heritage Trust to be held in each child's Legacy Trust. Leon's selection of what passes to the Legacy Trusts will dramatically influence the estate tax calculation. The greater the amount of includible a

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

son Re: Questions for your Meeting with Leon on 4.7.14 1. Heritage Trust. See attached Memorandum outlining possible changes to the Heritage and Legacy Trust Agreement. What are Leon's thoughts on these issues and what is the status of the list of art for each child's Legacy Trust? I have not yet given

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

outside Leon's estate (i.e., works held in the Heritage Trust after the pour-over of the 1997 and 2006 Trusts) will be distributed to each child's Legacy Trust; identified works of art held in LDB 2011 LLC will be held in such child's separate trust under the 2011 Trust Agreement. ii. Tangible personal pr

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

See 'Notes and Assumosons" Par. don 82 5,000.000 0.3680% 1,334,875,832 i82430% 18.873.821 1 380148 1,358,749.653 100 0001% V LB Heritage and Legacy Trust 750 Meadow Lane Added Upon Debris Death: 2: 0030C) Oars Black Won Esti% Probate Property S 254 809 013 Gross Probate Estate $ 254.809.073