EFTA02547490.pdf

From: jeffrey E. <[email protected]> Sent: Friday, December 15, 2017 1:44 AM To: Noam Chomsky Subject: Re: FW: Carol S. Chomsky Marital Trusts - Distribution just say , please be very specifit ,Q=A0 do you want a balance sheet. ? projected cash flow for next three=yeas. is that suffiicent? =br> On Thu, Dec 14, 2017 at 7:23 PM, Noam Chomsk wrote: Before responding, I would like to check with =ou to see if this is OK and doesn't interfere with our general approac= I was intending to respond by saying that item 2=is OK, as long it is made clear that the only thing was agreed to was that=Nick Nichols would go through Bainco's characterization of our expense= and formulate it correctly. OK? </=iv> Forwarded mess=ge From: Deborah Pechet Quinan=/b> <[email protected] <mailtc > Date: Thu, Dec 14, 2017 at 3:27 PM Subject:=RE: FW: Carol S. Chomsky Marital Trusts - Distribution To: Noam Chomsky= Cc: "Valeria Chomsk <= href="mailto "Richard Kahn Dear Noam,<=span> Financial planning may be=the wrong term for Max to have used. As I recall Nick was engaged to=prepare your and Valeria's tax returns and those of the marital trusts, and to provide a financial analysis of your and Valeria's =ash flows and income sources. The financial analysis was to have for=ed a baseline for a discussion to determine, collectively, which "=uckets" (i.e. the Marital Trusts, the IRA, other sources of income) would be accessed and in what proportions, to meet your and Val=ria's cash flow needs. Since there is a difference between a=financial analysis and a financial plan, perhaps Max used the term .=9Cfinancial planning" a bit loosely. The financial analysis was also intended to provide clarity to you and Valeria regarding how Bain=o had been characterizing your expenses, as Valeria was concerned that the= had manipulated the presentation of the information on their reports.<=u> EFTA_R1_01701832 EFTA02547490  In the interests of getti=g the federal estimate under way tomorrow, would you agree to my affirming=Max's item 2(a) below with the caveat that a financial analysis, as opposed to a financial plan was agreed to, and that I will wo=k with you on items 2(a) with the above caveat, (b) and (c)?=/span> Do you have any objection=to him providing me with the listing of corporate trustees? Thanks, Deborah =C240 Deborah Pechet Quinan, Esq. L1.M. Shareholder Chair, Trusts & Estates Group<=pan style="font-size:10.5ptfont-family:"Calibri","sans-s=rif";color:blackn> <https://maps.google.com/?q=255+State+Street,+7th+Floor%Cr/oA0%7=%C2%A0Boston,+MA+02109&entry=g mail&source=g> chttps://maps.google.com/?q=255=State+Street,+7th+Floor%C2%A0%7C+%3Chttps://maps.google.com/?q%3D255%2B Sta=e%2BStreet,%2B7th%2BFloor%25C2%25A0%2S7C%25C2%25A0Boston,%2BMA%2B02109%26e=try'%3Dgmail%26so urce%3Dg%3E%C2%A0Boston,+MA+02109+%3Chttps://maps.google.c=m/?q%3D255%2BState%2BStreet,%2B7th%2BFI oor%25C2%25A0%2S7C%25C2%25A0Boston,=2BMA%2B02109%26entry%3Dgmail%26source%3Dg%3E&entry=gmail&s ource=3Dg> I <https://maps.g=ogle.com/?q=255+State+Street,+7th+Floor%C2%.A0%7C%C2%A0Boston,+MA+02109&a=p;entry=gmail &source=g> <https://maps.google.com/?q=2SS+State+Street,+7th=Floor%C296A0%7C+%3Chttps://maps.google.com/?q%3D255%2B State%2BStreet,%2B7th=2BFloor%25C2%25A0%257C%2SC2%25A0Boston,%2BMA%2802109%26entry%3Dgmail%26sou =ce%3Dg%3E%C2V0A0Boston,+MA+02109+%3Chttps://maps.google.com/?q%30255%2BStat=%2BStreet,%2B7th%2BFlo or%25C2%25A0%257C%25C2%25A0Boston,%2BMA%2B02109%26en=ry%3Dgmail%26source%3Dg%3E&entry=gmail&s ource=g> Bo=ton, MA 02109 Direct I =C240Cell Assistant - Jayne Mahoney: Office: Fax: = e-mail:=C <mailto > = www.riw.com <http://www.riw.cork I BIO <http://www.riw.c=m/attorney/deborah-pechet-quinanh I Fro I Sent: urs ay, ecem er , 2017 12:38 PM To: Deborah Pechet Quinan Cc: Valeria Chomsk Richard Kahn Su ject: Re: FW: Carol S. Chomsky Marital Trusts - Distribution</=> 2 EFTA_R1_01701833 EFTA02547491  Acknowledging item 2, as you suggest, is OK except f=r one qualification. Max writes that he had "previously been assured (prior to making tax payments on Noam's behalf at the end of 2015 and in early 2016) that Noam woul= engage in a financial planning process with Nick Nichols? Such a process had indeed been suggested, but I did not accept the sugge=tion. There never was an arrangement to engage in financial planning with Nick. There was a different arrangement with Nick =bout how Bainco had been listing expenses, but not about financial plannin=. Max's reference in his reconsideration to a fina=cial advisor of my choosing is not a problem. Noam On Thu, Dec 14, 2017 at 7:52 AM, Deborah Pechet Quin=n w=ote: Dear Noam, Valeria and Richard,<=u> Please see Max's response to the discussi=n I had with him on Tuesday. He has offered to make the $150,000 tax=distribution but he wants my affirmation on Noam's behalf of the i=ems below. I am prepared to provide the acknowledgements that Max has requested in item 2. I =o not think item 1 requires an acknowledgement as it is simply a statement=of Max's position which he has now provided in writing. Please confirm that you are in agreement with my =greeing to and acknowledging item 2 and the items set forth therein. =As soon as I receive this from you I will proceed asap to respond to Max i= the affirmative and to confirm that he may make the estimated tax payment directly to the =RS. I will also at that time obtain the tax payment voucher from Nic= Nichol's office. I have no objection to Max providing the list of =orporate trustees he references in item 3. It can't hurt to =ee what he is thinking in this regard. Please let me know if I have =our permission to request the list. I await your response. Thank you, Deborah 3 EFTA_R1_01701834 EFTA02547492  Deborah Pechet Qui=an, Esq. LL.M.4>=A0 Shareholder Chair, Trusts & E=tates Group <https://maps.google.com/?q=255+State+Street,+7th+Floor%C2%A0%7=%C2%A0Boston,+MA+02109&entry=g mail&source=g> <https://maps.google.com/?q=255=State+Street,+7th+Floor%C2%A0%7C+%3Chttps://maps.google.com/?q%3D255%2B Sta=e%2BStreet,%2B7th%2BFloor%25C2%25A0%257C%25C2%25A0Boston,%2BMA%2B02109%26e=try%3Dgmail%26so urce%3Dg%3E%C2%A0Boston,%0D+MA+02109+%3Chttps://maps.googl=.com/?q%3D255%2BState%2BStreet,%2B7th% 28Floor%25C2%25A0%257C%25C2%25A0Bost=n,%2BMA%2B02109%26entry%3Dgmail%26source%3Dg%3E&entry=gm ail&sour=e=g> I <=a> <https://m=ps.google.com/?q=255+State+Street,+7th+Floor%C2V0A0%7C+%3Chttps://maps.gorigle.com/?q%3D255%2B State%2BStreet,%2B7th%2BFloor%25C2%25A0%257C%25C2%25A0B=ston,%2BMA%2B02109%26entry%3Dgmail%26so urce%3Dg%3E%C2%A0Boston,%0D+MA+0210=+%3Chttps://maps.google.com/?q%3D255%2BState%2BStreet,%2B7th% 2BFloor%25C2%=5A0%257C%25C2%25A0Boston,%2BMA%2B02109%26entry%3Dgmail%26source%3Dg%3E&=entry=g mail&source=g> Boston, MA 02109 <https://maps.google.com=?q=255+State+Street,+7th+Floor%C2%A0%7C%C2%A0Boston,+MA+02109&entry=3Dgmail& source=g> Direct: =C2 Cell </=pan> Assistant - Jayne Ma Office: =pan style="color:41f497d"> e-mail: ilf>=A0 www.riw.com <http://www.riw.com/> I 4>=A0BIO <http://www.riw.com/attorney/deborah-pechet-quinan/> 40=A0 <=pan style="font-size:10.0ptfont-family:"Tahoma","sans-se=if"">From: Max Kohlenberg (mak° Sent: Thursday, December 14, 2017 6:57 AM To: Deborah Pechet Quinan Subject: Carol S. Chomsky Marital Trusts - Distribution Q=A0 Deborah — I'm following up on our conversation on T=esday about principal distributions to Noam from the Carol S. Chomsky mari=al trusts. Please consider the following: 1. =C240 As I stated to you and as I now affirm to=you in writing, I am certain that in the exercise of my discretionary powe= to make distributions of principal from the trusts I'm entitled to inquire into Noam's financial circumstances, including=(a) the nature and extent of his resources, (b) his sources of income, and=(c) his expenditures. In fact, I'm equally certain that my f=duciary duty to Noam requires me to obtain that information so as to adequately address h=s long-term needs and to ensure that the trust is used for his exclusive b=nefit during his lifetime. (I am 4 EFTA_R1_01701835 EFTA02547493 mindful of the interests of Noam*=804ks children, as residuary beneficiaries of the trusts, and of my fiduciary duty to them as well, but as l'=e stated to you previously, my primary concern has been and continues to b= Noam's interests.) Q=A0 2. =C24o Having previously been assured (prior to =aking tax payments on Noam's behalf at the end of 2015 and in earl= 2016) that Noam would engage in a financial planning process with Nick Nichols, and having notified you at the time that I did not inte=d to make any further principal distributions until that process was compl=ted, I informed you on Tuesday that I was not prepared to make any princip=l distributions to Noam now. On further reflection, and mindful of Noam's distress, I've r=considered the circumstances and am willing to make the proposed $150,000 =ayment to the IRS on his behalf, provided that you will (a) urge Noam to e=gage in a financial planning process (with Nick Nichols or another financial professional of his choosing), (b) urge=Noam to cooperate in providing some information to me about his financial =esources, income and expenses (to a degree mutually acceptable), and (c) i=press upon Noam the fact that though I am now making another tax payment from the trust on his behalf, I do so =ith no intention of making further distributions of principal unless he co=pletes the financial planning and disclosure process that was agreed upon =n 2015. 3. =C24> Lastly, with respect to my trusteeship, l=have suggested to Harry Chomsky that I prepare a short list of qualified, =rofessional trustees for his consideration and for Noam's. It is my hope that one of those candidates would be acceptable to Harry an= to Noam (with your recommendation). This seems to me a good approach, giv=n that Harry has unequivocally declared his unwillingness to appoint Rich =ahn as my successor. Needless to say, if you'd like to suggest another approach to finding a suc=essor to me I will be glad to discuss it with Harry.<=p> 40=A0 If you are in agreement with the points set out a=ove, please reply acknowledging each of them and please also affirm that (=s was the case with respect to the 2015 and 2016 tax payments) you have no=objection to my direct payment of funds to the IRS, as an expedient and permissible =eans to expedite that payment (instead of having me arrange for the distri=ution of the funds to Noam's personal account for subsequent payme=t to the IRS). Lastly, please ask Noam's accountant to prepare a suitable estimated tax payment voucher and forward=it directly to me as soon as possible. I will then ask Noam'= investment advisors at Bainco to raise the necessary funds and make the p=yment. Looking forward to your reply,</=> Max 40=A0 A. M=x Kohlenberg Howl=nd Evangelista Kohlenberg Burnett, LLP One =inancial Plaza — Suite 1600 Prov=dence, Rhode Island 02903 5 EFTA_R1_01701836 EFTA02547494  Dire=t: Main= Fax:=C24 www.hekblaw.com 1,=A0 430=A0 This=email and any attachments thereto are intended only for use by the address=e(s) named herein and may contain legally privileged and/or confidential i=formation. If you are not the intended recipient of this email, you =re hereby notified that any dissemination, distribution or copying of this email, an= any attachments thereto, is strictly prohibited. If you have receiv=d this email in error, please immediately notify me by return email and pe=manently delete the original and any copy of this message or attachment. 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