EFTA02546911.pdf

From: Richard Kahn Sent: Thursday, December 14, 2017 6:03 PM To: jeffrey E. Subject: Fwd: Carol S. Chomsky Marital Trusts - Distribution Richard Kahn HBRK Associates Inc. 575 =exington Avenue 4th Floor New York. NY 10022 Begin forwarded message: From: =/b>Noam Chomsky c > Subject: =/b>Re: FW: Carol S. =homsky Marital Trusts - Distribution Date: =/b>December 14, 2017 at 12:38:20 =M EST To: =/b>Deborah Pechet Quinan •z 3, Cc: = b>"Valeria Chomsk " , "Richard Kahn Acknowledging =tem 2, as you suggest, is OK except for one qualification. Max =rites that he had "previously been assured (prior to making tax payments =n Noam's behalf at the end of 2015 and in early 2016) that Noam =ould engage in a financial planning process with Nick =ichols." Such a process had indeed been suggested, but I =id not accept the suggestion. There never was an arrangement to =ngage in financial planning with Nick. There was a different =rrangement with Nick about how Bainco had been listing expenses, but =ot about financial planning. Max's reference in his reconsideration to a =inancial advisor of my choosing is not a problem. Noam On Thu, Dec 14, 2017 at 7:52 AM, =eborah Pechet Quinan a wrote: EFTA_R1_01701054 EFTA02546911  Dear Noam, Valeria and Richard, Please see Max's =esponse to the discussion I had with him on Tuesday. He has =tiered to make the $150,000 tax distribution but he wants my =ffirmation on Noam's behalf of the items below. I am =repared to provide the acknowledgements that Max has requested in item 2. I =0 not think item 1 requires an acknowledgement as it is simply a =tatement of Max's position which he has now provided in =riting. Please confirm that you are in agreement with my agreeing to =nd acknowledging item 2 and the items set forth therein. As soon =s I receive this from you I will proceed asap to respond to Max in the =ffirmative and to confirm that he may make the estimated tax payment directly to =he IRS. I will also at that time obtain the tax payment voucher =rom Nick Nichol's office. I have no objection to Max =roviding the list of corporate trustees he references in item 3. =t can't hurt to see what he is thinking in this regard. =lease let me know if I have your permission to request the list. I await your response. Thank you, Deborah Deborah Pechet Quinan, Esq. LL.M. Shareholder Chair, Trusts & Estates Group 255 State Street, 7th Floor I Boston, MA 02109 Assistant - Jayne Mahoney: Office e-mail: I www.riw.com I BIO From: Max =ohlenberg Imailt Sent: Thursday, December 14, 2017 6:57 AM =To: Deborah Pechet Quinan Subject: Carol S. Chomsky Marital Trusts - =istribution 2 EFTA_R1_01701055 EFTA02546912  Deborah — I'm following up on our conversation on Tuesday about =rincipal distributions to Noam from the Carol S. Chomsky marital =rusts. Please consider the following: 1. As I stated to you and as I now affirm to you in writing, = am certain that in the exercise of my discretionary power to make =istributions of principal from the trusts I'm entitled to inquire into Noam's =inancial circumstances, including (a) the nature and extent of his =esources, (b) his sources of income, and (c) his expenditures. In =act, I'm equally certain that my fiduciary duty to Noam requires me to obtain that information so as to =dequately address his long-term needs and to ensure that the trust is =sed for his exclusive benefit during his lifetime. (I am mindful =f the interests of Noam's 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 =o be Noam's interests.) 2. Having previously been assured (prior to making tax =ayments on Noam's behalf at the end of 2015 and in early 2016) =hat Noam would engage in a financial planning process with Nick Nichols, and having notified you at the time =hat I did not intend to make any further principal distributions until =hat process was completed, I informed you on Tuesday that I was not =repared to make any principal distributions to Noam now. On further reflection, and mindful of Noam's =istress, I've reconsidered the circumstances and am willing to =ake the proposed $150,000 payment to the IRS on his behalf, provided =hat you will (a) urge Noam to engage 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 =bout his financial resources, income and expenses (to a degree mutually =cceptable), and (c) impress upon Noam the fact that though lam now making another tax payment from the trust on his =ehalf, I do so with no intention of making further distributions of =rincipal unless he completes the financial planning and disclosure =rocess that was agreed upon in 2015. 3. Lastly, with respect to my trusteeship, I have suggested =o Harry Chomsky that I prepare a short list of qualified, professional =rustees for his consideration and for Noam's. It is my hope that one of those =andidates would be acceptable to Harry and to Noam (with your =ecommendation). This seems to me a good approach, given that Harry has =nequivocally declared his unwillingness to appoint Rich Kahn as my successor. Needless to say, if you'd like to =uggest another approach to finding a successor to me I will be glad to =iscuss it with Harry. If you are in agreement with the points set out above, please =eply acknowledging each of them and please also affirm that (as was the =ase with respect to the 2015 and 2016 tax payments) you have no =bjection to my direct payment of funds to the IRS, as an expedient and =ermissible means to expedite that payment (instead of having me arrange =or the distribution of the funds to Noam's personal account for =ubsequent payment to the IRS). Lastly, please ask Noam's accountant to prepare a suitable estimated tax payment voucher and =orward it directly to me as soon as possible. I will then ask =oam's investment advisors at Bainco to raise the necessary =unds and make the payment. 3 EFTA_R1_01701056 EFTA02546913  looking forward to your =eply, Max A. Max Kohlenberg Howland Evangelista =ohlenberg Burnett, LLP One Financial Plaza — Suite 1600 Providence, Rhode Island 02903 www.hekblaw.com This email and any =ttachments thereto are intended only for use by the addressee(s) named =erein and may contain legally privileged and/or confidential =nformation. If you are not the intended recipient of this email, =ou are hereby notified that any dissemination, distribution or copying of this email, and any =ttachments thereto, is strictly prohibited. If you have received =his email in error, please immediately notify me by return email and =ermanently delete the original and any copy of this message or attachment. Thank you. NOTICE: This email with its attachments, if any, is intended solely for =ermitted use by authorized recipients. If you are not an authorized =ecipient of this email, your retention, transmission, disclosure, or =se of this email is prohibited. If you received this email in error, please notify the sender and delete this email and =ts attachments from your devices and systems. = 4 EFTA_R1_01701057 EFTA02546914