EFTA02582981.pdf

From: Richard Joslin < Sent: Frida Aril 25 2014 2:55 AM To: ;Jeffrey Epstein Subject: e: romise art And note the unauthorized maintaining of multiple art lists and the request=for information from paralegal vs from accounting that maintains art datab=se. I added all gift information to the inventory data warehouse and then= pre- existing lists were explicitly made obsolete by my cataloguing effort=. I look forward to working with Larry to improve organizational processe=. > On Apr 24, 2014, at 10:45 PM, "Richard Joslin" < > wrot=: > This is exactly what i referred to as not a 100% / 0 effort. Works are j=intly owned and there are requirements to properly insure by contract. Fr=m accounting perspective I need to track down invoices, check what was pai=, and. compare to contracts or letters of intention. For example, in past= invoice did not indicate joint ownership but gift letter stated joint own=rship. I figure I get all documentation and hand off to Ada to deal with =state issues. And given the mandate to be point person on art related it=ms, i lead the effort to gather facts and get complete our records so as t= have global view of artworks. I must provide to Ada in her efforts. She reads for estate tax inclusion and understanding of any legal obligations e=c. > This should be a collaborative process. We work together and not separat=ly. Ada can also lead this effort and I just need to be involved to tease=out all issues germane to my efforts. » On Apr 24, 2014, at 9:17 PM, "Ada Clapp" < wrote: » Rich-Elizabeth, » Let's discuss this with Larry on Monday. The list Elizabeth sent was a =ist she prepared for me before you joined the family office. It details t=e provisions of the pledge agreements and joint purchase agreements betwee= Leon and the various museums. I have not yet reviewed it against the ac=ual documents so I would rather she not circulate it as her descriptions o= the provisions may not be accurate. » I would like to discuss this project with Larry (and of course, Eileen i= she wishes to be involved). It seems to me that these are legal document= and require an assessment of Leon's obligation (and the obligation of Leo='s estate or Debra's estate) to give the works to the museums at some poi=t in the future. We need to know which are legally binding on his estate,=in some cases, to obtain the completed paperwork and ensure that Leon comp=ies with the terms of each agreement. There are also issues in connection=with making fractional interest gifts of art that need to be looked into. =This project does not really have to do with numbers or inventorying the a=sets involved (you have already done that), so it does not seem to fall wi=hin your job segmentation as Jeffrey described it today. >> » If Larry agrees that I should manage this project, I will certainly circ=late the list once I have confirmed its accuracy. If Larry feels that thi= is a project you should manage, then I am more than happy to give you the=list Elizabeth created and let you review it against the legal documents y=urself. EFTA_R1_01761013 EFTA02582981 » Let's try to pick a time with Larry on Monday. This is best discussed i= person rather than via email. » Thanks! » Ada Clapp » Elysium Management LLC » 445 Park Avenue » Suite 1401 » IRS Circular 230 Disclosure: Pursuant to IRS regulations, I inform you Pat any tax advice contained in this communication (including attachments) =s not intended or written to be used, and cannot be used, by any person or=entity for the purposes of (i) avoiding tax related penalties imposed by a=y governmental tax authority, or (ii) proposing, marketing or recommending=to another party any transaction or matter discussed herein. I advise you=to consult with an independent tax advisor on your particular tax circumst=nces. >> » This communication and any attachment is for the intended recipient(s) o=ly and may contain information that is privileged, confidential and/or pro=rietary. If you are not the intended recipient, you are hereby notified t=at further dissemination of this communication and its attachments is proh=bited. Please delete all copies of this communication and its attachments=and notify me immediately that you have received them in error. Thank you= » Original Message » From: Richard Joslin » Sent: Thursday, April 24, 2014 7:47 PM » To: Ada Clapp; Elizabeth Damaskos » Cc: Eileen Alexanderson » Subject: RE: Promised art » Thanks Ada for the update » I am not familiar with the Jointly Owned/Promised Gift list ED pls sto= by in morning to discuss. I'd like to make sure we centralize information=distribution. Thanks » Original Message » From: Ada Clapp » Sent: Thursday, April 24, 2014 6:27 PM » To: Elizabeth Damaskos » Cc: Eileen Alexanderson; Richard Joslin » Subject: RE: Promised art » Thanks Elizabeth--my understanding from Rich J. is that we did not want =o rely on currency conversion (i.e., that it was incorrect to do so) but o=ly on actual dollars paid. Copying him so he is aware. Thanks! >> » Original Message » From: Elizabeth Damaskos » Sent: Thursday, April 24, 2014 4:03 PM » To: Ada Clapp » Subject: RE: Promised art 2 EFTA_R1_01761014 EFTA02582982 » Ada, » Yes, there are 22 items and Leon's interest totals $161,389,560. Please =ee attached the revised Jointly Owned/Promised Gift list with your edits a= well as the revised index. I am working on retrieving the Seascape docume=ts. » Also, please note that while most of the prices paid on the excel sheet =ere/have been updated with actual price paid there are still two works for=which we have relied on currency conversion. » Best, » Elizabeth » Original Message » From: Ada Clapp imailto » Sent: Thursday, April 24, 2014 03:43 PM Eastern Standard Time » To: Damaskos, Elizabeth » Subject: Promised art » Hi Elizabeth, » Can you please check the latest list of art promised to museums to see w=at the total value of Leon's interest is. I think it totals around $161 m=llion. Can you please confirm that. How many pieces is it? 22? Thanks » Sent from my iPad » This message is intended only for the use of the Addressee and may conta=n information that is privileged and confidential. If you are not the int=nded recipient, you are hereby notified that any dissemination of this com=unication is strictly prohibited. If you have received this communication=in error, please erase all copies of the message and its attachments and n=tify us immediately. <?xml version=.0" encoding=TF-8"?> <!DOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/Propertylist-1.0.dtd"> <plist version=.0"> <dict> <key>conversation-idgkey> <integer>288555</integer> <key>date-last-viewed</key> <integer>0</integer> <key>date-received</key> <integer>1398394492</integer> <key>flags</key> <integer>8590195713</integer> <key>gmail-label-ids</key> <array> <integer>6</integer> <integer>2</integer> </array> <key>remote-id</key> <string>405248</string> </dict> </plist> 3 EFTA_R1_01761015 EFTA02582983