EFTA01001794.pdf

From: Valeria Chomsky To: "Jeffrey E." <[email protected]> Subject: Fwd: FW: FW: educational benefits - Date: Wed, 22 Nov 2017 16:02:45 +0000 There was a least some discussion in 2015. Forwarded message From: Noam Chomsky Date: Wed, Apr 8, 2015 at 2:51 PM Subject: FW: FW: educational benefits To: ' inclined to agree, and just let the three of them work it out directly. What do you think? From: [mailto: On Behalf Of Harry Chomsky Sent: Wednesday, April 08, 2015 2:46 PM To: Noam Chomsky; Avi Chomsky; Diana Chomsky Subject: Re: FW: educational benefits OK, I understand now where the different numbers are coming from. Doddoy is reporting the results of a large- scale historical aggregation that Bainco has performed, showing how much Doddoy has contributed to each grandchild over their lifetime, including deposits to their various accounts and trusts, as well as his direct payments for their tuition and medical care. These numbers are not account balances! Rather, they represent an attempt to see each grandchild get their fair share of help over their lifetime. At the moment, Ema has received less than the boys. Doddoy is not going to be paying Etna's tuition directly as he did for the boys -- instead, the tuition will be coming out of grandchildren's accounts that he has contributed to in the past. To make it all come out fair, we want to redistribute some of those past contributions. And the 529 plans have the benefit of being free to redistribute -- we can move money from one kid's plan to another without worrying about gift taxes or anything like that. Hence Bainco's suggestion, which I think is fine. Before these transfers can be executed, we have to figure out how much money is in each 529 plan and who controls each plan. That's the research Bainco is doing now. Some of the accounts may still be listed as being controlled by Carol. There may be an automatic rule for succession upon her death, or we may have to go through some process to reassign control. We may have a choice to make: give control of all accounts to Doddoy, or give each of Avi / Diane / Harry control over their kids' accounts, or some other variant. I'd suggest giving control to Avi / Diane / Harry. Doddoy doesn't need the trouble of having to think about this. His voice in the decision would be important if there were disagreement among the three of us and he had to be the impartial third (actually fourth?) party, but I don't expect that to happen. EFTA01001794 Does this all make sense? On Sat, Apr 4, 2015 at 8:27 PM, Noam Chomsky < • wrote: OK From: [mailtoU On Behalf Of Harry Chomsky Sent: Saturday, April 04, 2015 11:26 PM To: Noam Chomsky Cc: Diana Chomsky Subject: Re: FW: educational benefits I checked in with Jacki and Isabel. We're going to talk on the phone again within the next few days to try and straighten out the confusion. Stand by... On Sat, Apr 4, 2015 at 3:32 PM, Noam Chomsky > wrote: Sam gave me the exact figures a few days ago. It's as I write in my letter to all of you. Why don't you write to Jacki. She has all the figures, and she's the one who wrote me afterwards waiting for authorization. From: [mailto On Behalf Of Harry Chomsky Sent: Saturday, April 04, 2015 5:09 PM To: Diana Chomsky Cc: Noam Chomsky Subject: Re: FW: educational benefits I spoke to Isabel at Bainco yesterday, and she's not even sure how much is in each 529 account and who controls each account at the moment. They're doing some research to try to straighten it all out. Let's all check in again when we have the information we need, and then decide what to do. Doddoy, if Sam is waiting for an answer from you about something he wants to do right now, I'm not sure what it would be -- can you ask him to contact me and clarify? EFTA01001795 On Sat, Apr 4, 2015 at 1:05 PM, Diana Chomsky wrote: I'm a little confused because i thought the 529's only had about USD 50,000 each (Inti's and Ema's). I did ask Bainco recently because I had to pay a small deposit to Reed and wondered where to pay it from. Harry, were you checking with Bainco to get the updated numbers? Or maybe we are talking about trusts other than the 529's? As you know this is all a mystery to me, which is why I copy Harry in!! From: 'Noam Chomsky' <a> To: Diana Chornsky <11.011 Date: 0410412015 01: Subject: FW: educational benefits Resending. Is this OK with you? I should inform Sam. From: Noam Chomsky Sent: Wednesday, April 01, 2015 6:57 PM To: 'Avi Chomsky'; 'Diana Chomsky'; Harry Chomsky; Subject: educational benefits Sam Bain and Jacki stopped by with some suggestions about the educational trusts. I can send you the exact numbers if you like, but their point is that they are out of balance, and Ema, who really needs the money now for tuition, is short. For Sandi, Alaitz, and Inti it's in the $7-800,000 range, but for Ema it's only $586,000. Sam's suggestion is that Diane should move $48,000 from Inti's 529 account to Ema's, and Avi should move $70,000 from Alaitz's to Ema's. It doesn't affect Alex. How does that sound? D Oxfam works with others to overcome poverty and suffering Oxfam GB is a member of Oxfam International and a company limited by guarantee registered in England No. 612172. Registered office: Oxfam House, John Smith Drive, Cowley, Oxford, OX4 2JY. A registered charity in England and Wales (no 202918) and Scotland (SC 039042) EFTA01001796