From:
McCaffrey, Carlyn <
Sent:
Tuesday, December 18, 2012 1:29 PM
To:
Jeffrey Epstein
Cc:
Kirschner, Elyse; Eileen Alexanderson
Subject:
RE: Re:
If the ot=er children are beneficiaries, we would have a reciprocal trust problem
=p class=MsoNormal style=imargin-left:Sin'>Carlyn S. McCaffrey I Partner McDermott Will & Emery LLP I 340 Madiso=
Avenue, New York, NY 10173
I www.mwe.com <http://www.mwe.com>
Jeffrey Epstein [mailto:
[email protected]
Su=ject: Re:
<=o:p>
I thought that=each child could have the other three as benef , not debra &nbs.; , can you send another co-vel letter I
cannot locate t=e first either
On Tue, Dec 18, 201= at 9:22 AM, McCaffrey, Carlyn <
<mailto
> wrote:
=p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt=auto5I've asked Darren to send me a copy
of the letter you already=signed so I can modify it. We can't seem to find it.
We are worki=g on the children's trust agreements.
&=bsp;
The plan so far is to have distrib=tions made to the two younger children from their individual trusts. =They will use
those funds to fund their new trusts. The two older on=s will use portions of the notes that were issued to them from
their indiv=dual trusts. Because those notes would not make very good investment= for long term, multi-generational
trusts, we expect that the notes will b= paid off when they are held by the trustees of the new trusts.
We expec= that Leon and Debra will be trustees. Leon will be an independent trustee=
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<=pan style=lont-size:11.0ptfont-family:"Calibri","sans-serir;color:#1F=97D5Debra will also be a beneficiary so that
each trust will have a curre=t beneficiary even before it settlor has any children. The trust agr=ement will make it clear,
however, that the settlor's primary intention is=that the trust will be held for the benefit of his or her future
descendan=s.
<=pan style=lont-size:11.0ptfont-family:"Calibri","sans-serir;color:41F=97D'>The trusts will be grantor trusts treated
as owned by their settlors.=/span>
Any thoughts or comments?
Carlyn S. McCaffrey I Partner
McDermott Will & Emery LLP I 340 Madison Avenu=, New York, NY 10173
<tel
www.mwe.com <http://www.mwe.com>
Subject:
status of co vel= letter, leons children signing etc.
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