Epstein Secrets

DOCUMENT SUMMARY To: Leon D. Black From: Ada Clapp Date: April 12, 2013 cc: Eileen Alexanderson, Jeffrey Epstein Re: Your Will and the Leon D. Black 1997 Revocable Trust Follo

DOCUMENT SUMMARY To: Leon D. Black From: Ada Clapp Date: April 12, 2013 cc: Ei

DOCUMENT SUMMARY To: Leon D. Black From: Ada Clapp Date: April 12, 2013 cc: Eileen Alexanderson, Jeffrey Epstein Re: Your Will and the Leon D. Black 1997 Revocable Trust Following is a summary of your Last Will and Testament (your "Will") and the agreement (the "Trust Agreement") creating The Le

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

Ous0/40 10 Sulk* County Cantreolo Hod In New York County Cornrnsmon ewer. June 4. 2014 EFTA00601882 SCHEDULE A $10.00 LEON D. BLACK, Grantor LEON D. D. BLACK, Trustee Dated: • ST2013 DxN USI 8469098v1601S84600003 EFTA00601883

NT made this IS day of , 2013, between LEON D. BLACK of the State of New York (hereinafter called the

"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

ut raising these issues with Debra. 3. Leon D. Black Family Foundation. Inc. We think Leon should rev

eels about raising these issues with Debra. 3. Leon D. Black Family Foundation. Inc. We think Leon should rev

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

LEON D. BLACK: TERM SHEET FOR TESTAMENTARY DOCUMENTS Will I.

LEON D. BLACK: TERM SHEET FOR TESTAMENTARY DOCUMENTS Will I.

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

3 EFTA00299523 Detailed Presentation SUMMARY EFTA00299524 Leon D. and Debra R. Black Overview of Estate Plan as of June 30, 2016 On Death of Leon D. Black On Death of Debra R. Black Assets Available For Children After Death of LDS and DRB _ LDB Gross Estate 3,837,952,896 Marital Trusts 1,464,161

Overview of Estate Plan of Leon D. and Debra R. Black As of June 30. 2016 Apollo Global Management $1

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

a present or future beneficial interest in income or principal of such trust. 37 EFTA00587218 Dorn: USI: I032SSII v3 The name "LEON" shall mean LEON D. BLACK. The words "Marital Discord" shall mean significant tension or strife between spouses in their marriage that, in the determination of the Trustees

eath of the last survivor of DEBRA, BENJAMIN ELI BLACK, JOSHUA MAX BLACK, ALEXANDER SAMUEL BLACK, and VI

hall be disposed of in accordance with the following provisions: (A) During the life of DEBRA, the Trustees shall pay to her all of the income of the Marital Trust, at least quarter-annually. (B) At any time and from time to time during the life of DEBRA, the Trustees shall pay to or for the benefit of DEBRA

ugh it. EFTA00663454 Best regards, Ada Clapp Black Family Partners do Apollo Management 9 W 57th S

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

ustee of the Marital Trust, if any)? Ada Clapp Black Family Partners IRS Circular 230 Disclosure: Pu

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