This is intended to be a summary of topics discussed May 19, 2014

This is intended to be a summary of topics discussed May 19, 2014 I. Financial statements A. BFP valuation should be based on different price assumptions - 25, 28 & 30 per share B. Loans payable change to note payable on APOI with footnote include interest rate & maturity C. Need consistency on other assets — boat is at fmv while plane is at cost — adjust to fmv for plane D. Why are Judy Black and Jon Ressler annuity — Why is Jon's higher? Should be reverse? E. Review TRA calculations F. Need to clear up asset descriptions - such as private equity direct and "illiquid" assets for certain investments. G. How is GRAT receivable calculated 2. Phaidon Review Phaidon structure and consider making it a U.S. tax entity; consider how to restructure in order to take loss 3. Art Need list of art pledges upon death 4. Jewelry Need confirmation/clarity on ownership. Does insurance reflect correct ownership? 5. Account openings JP Morgan awaiting final docu DB all does with them On trading activity — e-mails will also go to Rich J/D and Rich K Clean up legacy accounts (securities) as well as kid's accounts 6. LDB Foundation A. Have Ralph Lerner removed as trustee B. Books and records — where are they retained? 7 — Plane Get copy of insurance 8 - Insurance Scheduling of ten + highest valued pieces — i.e. 50 million + 9. 2012 1040X Status — Depreciation on plane etc (can plane expenses be utilized) EFTA01203956 EFTA01203957