EFTA02546630.pdf

From: Valeria Chomsky Sent: Wednesday, December 13, 2017 9:21 PM To: jeffrey E. Subject: Fwd: Marital Trusts <=div> Forwarded message From: Noam Chomsky Date: Wed, Dec 13, 2017 at 4:19 PM Subject: Fwd: Marital Trusts<=r>To: Diana Chomsky >, Avi Chomsky , Harry Chomsky I would like to renew my request that you arrange for Max t= resign as trustee for the marital trusts, and expeditiously, for reasons = will explain below. I have already spelled out s=me of the reasons why I cannot trust Max. I hope you have read those=detailed letters, which only tell part of the story, though it was more th=n enough. By now the situation has become completely intolerable.Q=A0 During the years when Max was serving as=my lawyer, he saw no problem when the IRA that is my source of income was =eing depleted by distributions to 10 family members -- which alone amounte= to half of the mandatory withdrawals -- along with payment of taxes and m=nagement fees for the entire estate. All of that exhausted the annua= withdrawal, and the IRA was exhausted further by payments for the Wellfle=t house, Alex's medical expenses, and others that you know about, comp=lling me to make further withdrawals just for ordinary daily expenses, and=imposing the exorbitant taxes charged for such withdrawals. Max saw =o problem with that. He never suggested any financial accounting fro= any of the beneficiaries. I trusted him, mistakenly, as in the case=of the purchase of the apartment and the outlandish loan from the marital =rust, which I assumed would be for a few weeks until the Lexington house w=s sold, not realizing -- though he surely did -- that I would receive noth=ng for that and would be stuck with an expensive apartment I could not pos=ibly afford and a loan that I never would have agreed to had I understood.=/div> Now, all of a sudden, everything has changed. Suddenly= Max has all sorts of scruples and legalistic demands. What caused t=e sudden change? It is because now I am requesting that taxes be pai= by the marital trust. For the first time, Max insists on extensive =and of course outrageous) financial surveillance, claiming that as trustee= he is concerned with life expectancy (I might live too long) and with the=long-term effect on the trust -- matters that never concerned him while he=watched my IRA being depleted with payment of taxes and management fees fo= the entire estate, in addition to distributions to family. No scrup=es, no concerns, all fine as long as it was rapidly depleting my source of=income. To make this even more outrageous, the ma=ital trust is, of course, intended for the use of the married couple who e=tablished it, to be their main resource during their lifetimes, and the li=etime of the surviving spouse. That is the obvious intention of a ma=ital trust, and that should end the matter, within a family. But it =s even true of the wording, if we have to descend to legalities. Not=just for taxes, which is what I am requesting, but for daily life. EFTA_R1_01700597 EFTA02546630 As you know, the trusts were in Carol's name fo= two reasons: one, we assumed that she would be the survivor, and two, for=estate tax reasons, to assure that the three children would receive the ma=imum benefits after we both died. In addition, Max has apparently been allowing distributions from the mari=al trust to children and grandchildren without consulting me -- and, of co=rse, without calling for investigation of their financial circumstances.=C24, That concern is reserved for my request for tax payments from a trus= to which, by rights, I should have full access. I can think of only one explanation: Max, as your lawyer, is =eeking to ensure that you receive every penny possible: not just the trust= and educational trusts of which you are the sole beneficiaries, along wit= the two houses, and almost all of my pension, but even the marital trusts=that M and I established for ourselves. I can think of no other reas=n for his radical change of attitude from the time that the IRA was being =xhausted before his eyes to today, with sudden concern about long-term pot=ntial problems with the marital trust and possible excessive life expectan=y. No doubt he can contrive various legalisms, but I hope it is clea= enough why these should not even be considered in matters such as this.4=iv> Plainly, this situation -- which I=have only partially described -- is unacceptable. And it would be ev=n apart from what I have already written to you, and you know without my s=elling it out. To repeat, I've worked =ard all my life and have been very careful to provide for the needs of my =hildren and grandchildren, and to ensure that they will be well cared for =fter my death, even abandoning my pension and main material possessions (t=e two houses), in addition to trusts of which they are beneficiaries.Q=A0 After M died, I assumed that I would spend my last days alone. I =as lucky to meet a wonderful woman, who has given up her life, her family,=and her successful professional career to be with me. We are very ha=py together, and have been looking forward to a new life in Tucson, in pea=e and tranquillity, where we can be together and pursue our work and lives= I think I have that right. Instead, I am spending exorbitant =mounts of time, energy, and even lawyer's fees to obtain what should b= available to me with barely a word. Alone among the people I know, = am compelled to suffer serious aggravation, and to spend time and energy =way from life and work, without simple financial security. I hope yo= can see how unfair this is. I would therefore like to renew my request that you inform Max that he s=ould resign. I would then like to replace him with my financial advi=er, Richard Kahn, who is experienced, highly qualified, and trustworthy..C240 That seems simple enough. Fur=hermore, it is urgent. Within the next few days, money has to be ava=lable for taxes, and Max's repeated delays and sudden scruples are goi=g to again cost a lot of money that I should not have to spend. I ho=e it is also clear that I should not have be facing this kind of situation=at this stage of my life. Forwarded mes - From: Diana Chomsky Date: Wed, Nov 22, 2017 at 6:33 PM To: Noam Chomsky > Cc: Avi Chomsky Harry Chomsky Harry Chomsky Date: 4,=A0 20/11/2017 21:52 Subject: =C24) Marital Trusts 2 EFTA_R1_01700598 EFTA02546631 Back from Mexico, and there's some business l'= like to take care of. I would like to arrange for Max to step down as truste= of the marital trusts. All that this requires is that each of you authorize him to do so. I've explained some of the reasons. There are others. In general, I want to make a clean break from what has been happening for the past few years. I would then like to appoi=t Richard Kahn as Trustee. As you know, he is the financial advisor/acc=untant I have been working with, extremely competent and trustworthy. I hope this can be done quickly and expeditiously. In brief, I've worked hard all my life and have ma=aged to set aside funds to ensure your security and the security of your childre= -- the two houses, trusts, in substantial sums. Valeria and I are very happy together. I think I now have the right to live the rest of my life in peace and tranquility, without constant financial concerns, in fact like everyone else I know Those who remain. You have perhaps heard that my old friend Ed Herman died a few days ago. Oxfam works with others to overcome poverty and suff=ring Oxfam GB is a member of Ox=am International and a company limited by guarantee registered in England =o. 612172. Registered office: Oxfam House, John Smith Drive, Cowley, Ox=ord, OX4 2JY. A registered charity in England and Wales (no 202918) and=Scotland (SC 039042) 3 EFTA_R1_01700599 EFTA02546632