EFTA02656436

From: jeffrey E. <[email protected]> Sent: Monday, May 21, 2018 6:11 PM To: Noam Chomsky Subject: Re: Marital Trust Ok On Mon, Ma= 21, 2018 at 8:09 PM Noam Chomsky wrote: I'd like to hold off on th=s for a bit. I'm curious to learn more about Harry's thinkin=. I'd like to write to him saying that there's n=thing in Mass law that prevents beneficiaries from doing as I suggested.=C240 He can relieve his concerns about future fiduciary responsibility by=resigning, and we can return to the situation before I appointed him trust=e, when I was trustee and had no concerns about fiduciary responsibility.=C2* If he feels that he has carried out past actions that make him liabl= to some legal process, he should arrange with his lawyer about ways to pr=tect himself. I would also like to ask him more directly than before=what he thinks would be a proper division. Then we can go on=from there. OK? On Mon, May 21, 2018 at 2:03 AM, jeffrey E. <[email protected] <mailto:[email protected]» wrote: Rich Kahn can talk wi=h Harry if ok with u On Mon, May 21, 201= at 10:13 AM jeffrey E. <[email protected] <mailto:[email protected]» wrote: All silly, they can makes final dis=ribution of 2 million dollars and you and Valeria release all. Max Harry c=ildren and you receive releases - easy On Mon, May 21, 2018 at 6:46 AM Noam Chomsky the latest. =br> Mass law prevents beneficiaries to divide up a trust and liq=idate it? Forwarded message rote: EFTA_R1_01902161 EFTA02656436 From: Harry Chomsky &=t; It sounds like you would like me to say yes or no to your propos=l exactly as you have stated it, without further discussion. I can&#=9;t do that. Here are some reasons: 1. It's not permitte= under Massachusetts trust law. I agreed to certain obligations when=l became trustee, and I have to make sure to discharge them faithfully.4)=A0 Even if you tell me you don't care about my fiduciary responsibilit=, the law says I'm responsible anyway. 2. It's not specif=c. For instance, you mention dividing the trust into two parts, but =ou don't say what each part would consist of. 3. It's not=complete. For instance, you haven't proposed any way to shield u= and Max from liability for past actions. It might be possibl= to work out all of these problems and develop a legal, specific and compl=te agreement based on the framework you've proposed. Would you l=ke to engage with me in some kind of process to attempt that? Other =han having your lawyer talk to mine, do you have any suggestion about how =o do so? n Sat, May 19, 2018 at 2:26 PM, Noam Chomsky > wrote: I'm g=ad that you find the idea interesting and think that you might consider it= though you have to consult lawyers first. My own view is d=fferent. To me the proposal I suggested seems to be a very simple wa= of settling this matter, which to me is extremely troubling. I real=ze that this is just another case of a longstanding difference in the way =e approach these problems, a difference that has been clear ever since we =ere discussing the interest on the loan from the Trust and found that we c=uld not communicate because I mistakenly assumed that it was a discussion =mong family members while your letters made it very clear and explicit tha= you saw it as a legal issue to be settled among lawyers and Bainco, perha=s with a mediator in the adversary proceeding. All matters I find it=very hard to comprehend, and to live with, but so be it. =div style="colorrgb(34,34,34);font-family:arial,sans-serif;font- size:12.8px;font-style:normal;font-variant-ligatures:normal;font-variant-caps:norm=l;font-weight:400;letter- spacing:normal;text-align:start;text-indent:0px;t=xt-transform:none;white-space:normal;word-spacing:0px;background- color:rgb=255,255,255);text-decoration-style:initial;text-decoration-color:initial">=0 by all means consult with your lawyer, or perhaps a battery of lawyers, =o make sure that your interests are properly protected. I don't =eed any lawyer's advice. The matter is perfectly clear and strai=htforward. So there is no reason for me to hire a lawyer to deal wit= the question and to have a lawyer contact yours and initiate a discussion=in which we all participate. The matter is very simple.Q=A0 We can proceed without delay if you agree to settle the issue in the si=ple manner that I suggested. 2 EFTA_R1_01902162 EFTA02656437 As for your proposals in your =etter of March 29, as I wrote you, the letter was so shocking that it was =ard for me to bring myself to respond, but I did, in detail, but decided n=t to send it. Perhaps I should. Will think about it. =/div> As for your proposals, my response was the obvious one. rm=sorry for the stress you had to endure, but your efforts were a waste of t=me for reasons I had already fully explained before you undertook them.=A0 As I'm sure you recall, a few years ago, I requested tax payments f=om the marital trust when my IRA was being rapidly depleted by my advisers=who were distributing half to family and using the other half to pay manag=ment fees and taxes for the entire estate, so that to pay Alex's medic.' expenses and the expenses for Wellfleet I had to withdraw excess funds w=th exorbitant taxes, all that before withdrawing even a cent to live on ag=in with exorbitant taxes. Your response was to refuse the request un=ess I agreed to intrusive and insulting financial investigations -- of a k=nd I never considered when providing funds to you for something you needed= I made it clear and explicit at the time that I would not submit to=this procedure. Since your efforts and proposals simply repeat the s=me procedure, they were a waste of time. There were some th=ngs in your letter that were correct. You're right that despite =hat has happened, I'm still a "wealthy man," with income wel= above the median, though lacking a pension and accumulated property, not =t the level of my peers. Furthermore, I can supplement my income by =eaching large undergraduate courses, something I'd never done and that=is not that common for people approaching 90, but something that I enjoy.=C2. And you too are a wealthy man, for the same reasons: the reasons are=that I've worked hard all my life, lived fairly simply (and live even =ore simply today), and was therefore able to put aside enough money to ens=re that my children and grandchildren are very well cared for, indefinitel=. But I again suggest that we put all of this a=ide, and deal quickly and simply with what appears to be the one outstandi=g issue: dividing the Marital trust and then dissolving it, all very simpl=, needing no lawyers, at least on my part. 0 On Fri, May 18, =018 at 1:44 PM, Harry Chomsk wrote: This is an interesting idea. We could c=nsider it further, but I would need the advice of my lawyer — and = assume you would want your own lawyer's advice as well — to e=sure that any agreement we reach is consistent with Massachusetts law and =atisfies the interests, needs, and obligations of everybody involved...A0 Perhaps, as a next step, you could ask your lawyer to contact mine and =egin a discussion in which we all participate. l&=39;m also curious to hear your thoughts about the proposals I suggested in=my message on March 29th. On Thu, May 17, =018 at 10:05 AM, Noam Chomsky ote: As I wrote a little while ago, I did write a lo=g response to your last -- deeply depressing -- letter, but decided not to=send it. I may return to that letter later but will keep to some fac=ual matters that ought to be cleared up. 3 EFTA_R1_01902163 EFTA02656438 But now Is= writing just about one point, which seems to be the core of the problem -= a problem, which, again, I don't understand. But let's put =hat aside, though I hope we can clear it up soon. All of this is a=C24> painful cloud that I never would have imagined would darken my late =ears. The core issue seems to be the marital trus=. I've explained how M and I actually set it up with Eric, which=seemed to us just plain common sense. I've also explained Max -=;s different interpretation. I've asked you for yours, but haven=ii393 heard it. But let's put that aside too, and just resolve t=e matter, as can be done very simply -- with no need for lawyers to explai= the fiduciary responsibility of the trustee I appointed years ago to repl=ce me, something I never paid any attention to before. The simple solution is to divide the trust into two parts. One =art will go to you, to use as you wish. One part will go to me, for =e to use without any investigations of my financial situation and other su=h intrusions that I won't accept. Then the trust can simply be d=ssolved, and it is all over. So I suggest that we=proceed this way, and end the whole matter -- at least, whatever it is tha= I understand about what is of concern to you. Dc=div> =C240 please note The informat=on contained in this communication is confidential, may be attorney-cli=nt privileged, may constitute inside information, and is intended only =or the use of the addressee. 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