Epstein Secrets

anagement LLC) FROM: Charles T. Dowling Elizabeth A. Kubanik RE: Leon Black Estate Planning This memorandum summarizes our high-level thoughts on Leon Black's estate planning based upon the information and documents that have been provided to us and our discussions with you. As a general matter, we have b

questions or comments you may have on the topics discussed in this memorandum or any other aspect of Leon's estate planning. C.T.D. E.A.K. cc: Leon D. Black Alan S. Halperin (Paul, Weiss, Riflcind, Wharton & Garrison LLP) -14- EFTA00591806

harles T. Dowling Elizabeth A. Kubanik RE: Leon Black Estate Planning This memorandum summarizes our h

mpt payment of assets to Legacy Trusts for the children. Instead, the Legacy Trusts should be funded with non-exempt assets. 5 We understand that the Black Family 1997 GST Exempt Trust holds GST tax- exempt assets. Because that trust does not include the more tailored governance provisions of the Heritage Trust, it may be desirable

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

emption Amount (as defined in Clause THIRTEENTH) or otherwise, such portion of the Exemption Amount instead shall be distributed to the Trustees of the Black Family 1997 GST Exempt Trust (as defined in Clause THIRTEENTH), to be added to and disposed of as a part of the principal thereof. (B) In allocating cash or other property to

Black Family 1997 GST Exempt Trust LDB 2011 LLC TOTA

rtners to Black Family 1997 Trust as loan Promissory note issued $54mil transferred from Black Family 1997 Trust to PLB LLC $3mil Transferred from the Black Family 1997 GST Exempt Trust to PLB LLC $10mil transferred from JPMorgan Acct 220-42260 of LDB 2011 LLC to PLB LLC E FTA_R 1_02050349 EFTA02696499