EFTA02645090.pdf

From: jeffrey E. <[email protected]> Sent: Monday, July 3, 2017 11:30 AM To: Valeria Chomsky Subject: Re: taxes if noam is entitled to the interest paid tot he trust , =AO this is extra silly, the marital trust do=ument will answer many quesitons. i still dont understan= the lexington house transfer. On Mon, Jul 3, 2017 at 3:59 AM, Valeri= Chomsky < target=> I should make it clear to start with that none of this bears on our ;recision to move to Tucson. That has quite different motives. We do of course have to face our financial situation: rel=ance on a diminishing IRA (and another very small one) with no access to o=her funds, and the burden of paying for an apartment that I agreed to buy =nly on the mistaken assumption that the cost would be paid by the Lexingto= house. What we're discussing is something else: the nat=re of the loan from the Trust. The final version of th= Promissory Note that was provided to me reads as follows: <=iv>"Interest on the balance outstanding shall be payable at a rate equal to the highest rate in effect from time to time on any one or more loans outstandi=g =span style="color:rgb(40,40,40)">between•Lender and (insert full name of Pershing entity), or if n= such loans are in existence, then the rate shall be fixed at the so-called Mid Term Applicable Federal Rate in effect =t the time, recalculated monthly in accordance with Section 1274(d) of the Internal Revenue Code, or any suand=the actual number of days elapsed." There is nothing here, =r elsewhere in the document, that restricts it to the brief period before =he sale of the Lexington house. I have no informatio= at all about having received any DNI. If there is such information,=it should be sent to me so that I can use it for our own plans. =/p> I don't see much point in a meeting. It seems to =e that all of this can be cleared up in writing. EFTA_R1_01881132 EFTA02645090 0 On Sat, Jul 1, 2017 at 7:32 PM, Diana Chomsky wrote= Hi, thanks for your reply. We are very, very concerned that y=u are not understanding and not getting help in understanding what is happeni=g with your finances. Your responses below only increase our concern. The three of us are not able to serve as financial advisors. We urge you strongly to speak directly with Max so that he can clarify what he says in the Memo and explain what the Promissory Note language means. Just to give you one example of ou= concern: You focus on one phrase: that the interest will be "=t the highest rate in effect." But you are taking those words out of =ontext. We really don't think we should be trying to explain these d=tails to you, but to try to summarize: this phrase applied to the double nature of the loan—the Marital Trust had to borrow money from Persh=ng to make the loan to you, until the Lexington house was sold. The phrase you quote applies only to that brief period, and has no impact on the interest accruing now or in the future. We can see why focusing on those s=x words would make you angry. But the six words mean nothing in and of themse=ves (i.e., what rate is "in effect"?). But instead of doi=g the logical thing—getting the full information—you are just so angry th=t you refuse to find out the truth. Again, this is just one example of=where you are stating conclusions based on faulty or incomplete information. There are explanations for your other issues as well (how the DNI is paid to you, how the interest payments can be made, etc) but rather than us trying to summarize the information for you here, we think it would make more sense for you to discuss them with the people who set all of this up, in the context of a broader conversation. Reading your response only redoubles our sense that you are simply misreading important elements of your entire financial situation, and that you are making big decisions based on faulty information. We feel that you have painted yourself into a corner, in which you arrive at the worst possible interpretation of complex legal language, and then refuse to speak with the very people who could explain it to you, and just get angry at them based on your misin=erpretations. We beg you once again to meet with=us and with the people who set up the Trust, the loan, etc., to clarify these issues. Love, Avi, Diane and Harry =AO please note The information contained i= this communication is confidential, may be attorney-client privileged,=may constitute inside information, and is intended only for the use =f the addressee. It is the property of JEE Unauthorized use, disclos=re or copying of this communication or any part thereof is strictly pro=ibited and may be unlawful. If you have received this communication =n error, please notify us immediately by return e-mail or by e-mail to =a href="mailto:[email protected]" target="_blank">jeevacation@gmai=.com, and destroy this communication and all copies thereof, inc=uding all attachments. copyright -all rights reserved 2 EFTA_R1_01881133 EFTA02645091 --94eb2c189334227b01055368159e-- conversation-id 39303 date-last-viewed 0 date-received 1499081379 flags 8590195713 gmail-label-ids 7 6 remote-id 726464 3 EFTA_R1_01881134 EFTA02645092