From: Eileen Alexanderson

From: Eileen Alexanderson fr-" To: ' " <[email protected]> Subject: Re: Fw: 2006 Trust GRAT proposal.ppt Date: Thu, 16 Aug 2012 21:26:00 +0000 Ok to discuss in email? From: Jeffrey Epstein [mailto:[email protected]] Sent: Thursday, August 16, 2012 05:17 PM To: Eileen Alexanderson Cc: Melanie Spinella Subject: Re: Fw: 2006 Trust GRAT proposal.ppt i am confused, how are they going to value the income right.? can leon turn it on and off only the trustees.? if it is assumed to stay on, the value will be monstrous. and the amoints needed to be paid in the annuity to zero it out will far exceed the current income generated„ the plan then talks about borrowing, who lends. who values. ? who guarantees. On Wed, Aug 15, 2012 at 4:50 PM, Eileen Alexanderson < > wrote: Still may need some refinement but take a look. I checked income that fows to the trust through BFP is passive.headed to a dinner now, in the office all day tomorrow if you want to talk more. From: Clapp, Ada Draft° Sent: Wednesday, August 15, 2012 05:56 PM To: Eileen Alexanderson Subject: 2006 Trust GRAT proposal.ppt Hi Eileen, Here is the revised power point. If you approve, I will forward to Carlyn and Elyse. Have a good night. Ada Clapp Managing Director, Wealth Strategist T.tit B• nk f Am •ri •t Privat Wealth Management IRS Circular 230 Disclosure: Pursuant to IRS regulations, we inform you that any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used by any person or entity for the purpose of (i) avoiding tax related penalties imposed by any governmental tax authority or agency, or (ii) promoting, marketing or recommending EFTA00941077 to another party any transaction or matter discussed herein. We advise you to consult with an independent tax advisor on your particular tax circumstances. 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