EFTA02657153.pdf

From: Noam Chomsky < Sent: Monday, May 21, 2018 7:06 PM To: jeffrey E.; Valeria Chomsky Subject: Re: Marital Trust I'll ask directly =div class="gmail_quote">On Mon, May 21, 2018 at 11:26 AM, jeffrey E. <[email protected] <mailto:[email protected]» wrote: The elephant in the room is his sugested split <=div> On Mon, May 21, 2018 at 8:11 PM jeffrey E. <[email protected]> wro=e: Ok On Mon, Ma 21, 2018 at 8:09 PM Noam Chom=ky < <mailto > wrote: I'd like to hold off on this for a bi=. I'm curious to learn more about Harry's thinking. I'd like to write to him saying that there's nothing in M=ss law that prevents beneficiaries from doing as I suggested. He can=relieve his concerns about future fiduciary responsibility by resigning, a=d we can return to the situation before I appointed him trustee, when I wa= trustee and had no concerns about fiduciary responsibility. If he f=els that he has carried out past actions that make him liable to some lega= process, he should arrange with his lawyer about ways to protect himself.=C240 I would also like to ask him more directly than before what he think= would be a proper division. Then we can go on from there.</=iv> OK? On Mon, May 21, 2018 at 2:03 AM, jeffrey E. <[email protected] <mailto:[email protected]» Rich Kahn can talk wit= Harry if ok with u On Mon,=May 21, 2018 at 10:13 AM Jeffrey E. <[email protected] <mailto:jeevacation@gmai=.com» wrote: All silly, they can make=s final distribution of 2 million dollars and you and Valeria release all.=Max Harry children and you receive releases - easy EFTA_R1_01903219 EFTA02657153  <=r> On Mon, May 21, 2018 at 6:46 AM Noam Cho=sky <nchomsky3=gmail.com <mailto > wrote: the=latest. Mass law prevents beneficiaries to divide up a =rust and liquidate it? Forwarded message From: Harry Chomsky < >> Date: S=n, May 20, 2018 at 9:19 PM Subject: Re: Marital Trust To: Noam Choms=y < <mailto >> Cc: Avi Chomsky < < », Diana Chomsky It sounds like you would like me to say yes or no to=your proposal exactly as you have stated it, without further discussion.=C2* I can't do that. Here are some reasons: 1. It'= not permitted under Massachusetts trust law. I agreed to certain ob=igations when I became trustee, and I have to make sure to discharge them =aithfully. Even if you tell me you don't care about my fiduciary=responsibility, the law says I'm responsible anyway. 2. It l-=;s not specific. For instance, you mention dividing the trust into t=o parts, but you don't say what each part would consist of. It's not complete. For instance, you haven't proposed any w=y to shield us and Max from liability for past actions. It mi=ht be possible to work out all of these problems and develop a legal, spec=fic and complete agreement based on the framework you've proposed...A0 Would you like to engage with me in some kind of process to attempt tha=? Other than having your lawyer talk to mine, do you have any sugges=ion about how to do so? On Sat, May 19, 2018 at 2:2= PM, Noam Chomsky < <mailto > wrote: I'm glad that you find the idea interesting and thin= that you might consider it, though you have to consult lawyers first. 2 EFTA_R1_01903220 EFTA02657154  My own view is different. To me the proposal I suggested =eems to be a very simple way of settling this matter, which to me is extre=ely troubling. I realize that this is just another case of a longsta=ding difference in the way we approach these problems, a difference that h=s been clear ever since we were discussing the interest on the loan from t=e Trust and found that we could not communicate because I mistakenly assum=d that it was a discussion among family members while your letters made it=very clear and explicit that you saw it as a legal issue to be settled amo=g lawyers and Bainco, perhaps with a mediator in the adversary proceeding.=C2* All matters I find it very hard to comprehend, and to live with, but=so be it. So by all means consult with your lawyer, or perh=ps a battery of lawyers, to make sure that your interests are properly pro=ected. I don't need any lawyer's advice. The matter is=perfectly clear and straightforward. So there is no reason for me to=hire a lawyer to deal with the question and to have a lawyer contact yours=and initiate a discussion in which we all participate. The =atter is very simple. We can proceed without delay if you agree to s=ttle the issue in the simple manner that I suggested. As fo= your proposals in your letter of March 29, as I wrote you, the letter was=so shocking that it was hard for me to bring myself to respond, but I did,=in detail, but decided not to send it. Perhaps I should. Will =hink about it. As for your proposals, my response was the o=vious one. I'm sorry for the stress you had to endure, but your =fforts were a waste of time for reasons I had already fully explained befo=e you undertook them. As I'm sure you recall, a few years ago, l=requested tax payments from the marital trust when my IRA was being rapidl= depleted by my advisers who were distributing half to family and using th= other half to pay management fees and taxes for the entire estate, so tha= to pay Alex's medical expenses and the expenses for Wellfleet I had t= withdraw excess funds with exorbitant taxes, all that before withdrawing =ven a cent to live on again with exorbitant taxes. Your response was=to refuse the request unless I agreed to intrusive and insulting financial=investigations -- of a kind I never considered when providing funds to you=for something you needed. I made it clear and explicit at the time t=at I would not submit to this procedure. Since your efforts and prop=sals simply repeat the same procedure, they were a waste of time. There were some things in your letter that were correct. You84=9;re right that despite what has happened, I'm still a "wealthy m=n," with income well above the median, though lacking a pension and a=cumulated property, not at the level of my peers. Furthermore, I can=supplement my income by teaching large undergraduate courses, something l&=39;d never done and that is not that common for people approaching 90, but=something that I enjoy. And you too are a wealthy man, for the same =easons: the reasons are that I've worked hard all my life, lived fairl= simply (and live even more simply today), and was therefore able to put a=ide enough money to ensure that my children and grandchildren are very wel= cared for, indefinitely. But I again suggest t=at we put all of this aside, and deal quickly and simply with what appears=to be the one outstanding issue: dividing the Marital trust and then disso=ving it, all very simple, needing no lawyers, at least on my part. 0 On Fri, May 18, 2018 at 1:44 PM, Harry Chomsky <-> wrote: This is an interestin= idea. We could consider it further, but I would need the advice of =y lawyer — and I assume you would want your own lawyer's advic= as well — to ensure that any agreement 3 EFTA_R1_01903221 EFTA02657155 we reach is consistent wit= Massachusetts law and satisfies the interests, needs, and obligations of =verybody involved. Perhaps, as a next step, you could ask your lawye= to contact mine and begin a discussion in which we all participate. =div> I'm also curious to hear your thoughts about the pr=posals I suggested in my message on March 29th. On Thu, May 17, 2018 at 10:05 AM, Noam Chomsky <mailto > wrote: As I wrote = little while ago, I did write a long response to your last -- deeply depr=ssing -- letter, but decided not to send it. I may return to that le=ter later but will keep to some factual matters that ought to be cleared u=. But now I'm writing just about one point, which s=ems to be the core of the problem -- a problem, which, again, I don't =nderstand. But let's put that aside, though I hope we can clear =t up soon. All of this is a painful cloud that I never would h=ve imagined would darken my late years. The core =ssue seems to be the marital trust. I've explained how M and I a=tually set it up with Eric, which seemed to us just plain common sense.40=A0 I've also explained Max's different interpretation. l'=ve asked you for yours, but haven't heard it. But let's put =hat aside too, and just resolve the matter, as can be done very simply -- =ith no need for lawyers to explain the fiduciary responsibility of the tru=tee I appointed years ago to replace me, something I never paid any attent=on to before. The simple solution is to divide th= trust into two parts. One part will go to you, to use as you wish.=C24, One part will go to me, for me to use without any investigations of =y financial situation and other such intrusions that I won't accept.=C2. Then the trust can simply be dissolved, and it is all over. So I suggest that we proceed this way, and end the whole m=tter -- at least, whatever it is that I understand about what is of concer= to you. 0 4>=AO please note The information contained in this communicati=n is confidential, may be attorney-client privileged, may constitute=inside information, and is intended only for the use of the addressee. =t is the property of JEE Unauthorized use, disclosure or copying of =his communication or any part thereof is strictly prohibited and may=be unlawful. If you have received this communication in error, please n=tify us immediately by 4 EFTA_R1_01903222 EFTA02657156  return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and =estroy this communication and all copies thereof, including all attachm=nts. copyright -all rights reserved =C21> please note The information contained in this communic=tion is confidential, may be attorney-client privileged, may constit=te inside information, and is intended only for the use of the addresse=. It is the property of JEE Unauthorized use, disclosure or copying =f this communication or any part thereof is strictly prohibited and =ay be unlawful. If you have received this communication in error, pleas= notify us immediately by return e-mail or by e-mail to [email protected], and<=r>destroy this communication and all copies thereof, including all atta=hments. copyright -all rights reserved please note=br> The information contained in this communication is confidential= may be attorney-client privileged, may constitute inside information, =nd is intended only for the use of the addressee. It is the property of=br>JEE Unauthorized use, disclosure or copying of this communication=or any part thereof is strictly prohibited and may be unlawful. If you =ave received this communication in error, please notify us immediately =y return e-mail or by e-mail to [email protected] cmailto:[email protected]= target=> , and destroy this communic=tion and all copies thereof, including all attachments. copyright -all =ights reserved =C2* please note The information contained in this communication =s confidential, may be attorney-client privileged, may constitute in=ide information, and is intended only for the use of the addressee. It =s the property of JEE Unauthorized use, disclosure or copying of thi= communication or any part thereof is strictly prohibited and may be=unlawful. If you have received this 5 EFTA_R1_01903223 EFTA02657157 communication in error, please noti=y us immediately by return e-mail or by e-mail to [email protected] <[email protected]> , and des=roy this communication and all copies thereof, including all attachment=. copyright -all rights reserved 6 EFTA_R1_01903224 EFTA02657158