Epstein Secrets

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.

partments to any one or more of the Grantor's children, the Trustees of the Heritage Trust (as defined in Clause THIRTEENTH) and/or the Trustees of the Legacy Trusts, provided such sale is for Fair Market Value. (c) The Trustees shall pay any such expenses that they deem reasonable in connection with selling th

animously, as there can be as many as seven Trustees (including Richard, John and the four children). There can be as many as five Trustees of each Legacy Trust, and each of the children has the right to remove and replace the Trustees of the Legacy Trust for his or her benefit with independent Trustees upon

governance role they will take on after Leon's death. In addition, if the Heritage Trust is funded now Q.e., with assets from the existing trusts), the Legacy Trusts for the children could be funded It would not be appropriate for the assets of the 1992 and 1999 Insurance Trusts or the Black 2011 Family Trusts t

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

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 art that passes to the Legacy Trusts on Debra's death,