EFTA00833437.pdf

From: Richard Kahn To: "Jeffrey E." <jeevacation@gmail.com> Subject: Max Date: Mon, 16 Apr 2018 15:04:38 +0000 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fa) ce Begin forwarded message: From: Max Kohlenberg Subject: Re: Working to resolution Date: April 16, 2018 at 11:03:54 AM EDT To: Richard Kahn < I am in court now and then in a meeting outside the office. This is the first time you have said anything about taxes. I had no idea that Noam is seeking funds for tax payments nor has anything been said by his accountants. Sent from my Vcrizon, Samsung Galaxy smartphonc Original message From: Richard Kahn <1 Date: 4/16/18 10:51 AM (GMT-05:00) To: Max Kohlenberg Subject: Re: Working to resolution what time can we speak today? also can you please tell me the exact details of what you need to make a distribution as tomorrow is the tax deadline.. thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 EFTA00833437 tel fa, ce On Apr 15, 2018, at 9:37 AM, Max Kohlenberg •:: > wrote: Rich — The account reports that we delivered to Deborah Pechet Quinan last October (and that were copied by her to you, Noam and Valeria, I believe) showed that all trust accounting income (and more) was paid to Noam in each year from 2010 through 2016. I have not compiled a report for 2017 yet, but I will get to work on that this week. I have a call scheduled for this afternoon with Noam's daughters. I hope to make some progress in that call and have some useful information for you tomorrow. Max A. Max Kohlenberg Howland Evangelista Kohlenberg Burnett, LLP One Financial Plaza — Suite 1600 Providence, Rhode Island 02903 Dire Mai Fax: www.hekblaw.com This email and any attachments thereto are intended only for use by the addressee(s) named herein and may contain legally privileged and/or confidential information. If you are not the intended recipient of this email, you are hereby notified that any dissemination, distribution or copying of this email, and any attachments thereto, is strictly prohibited. If you have received this email in error, please immediately notify me by return email and permanently delete the original and any copy of this message or attachment. Thank you. From: Richard Kahn [mailto: I Sent: Friday, April 13, 2018 4:25 PM To: Max Kohlenberg Subject: Re: Working to resolution can you please document for me that all income received by the trust was paid out to noam in the previous 4 years... thank you EFTA00833438 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fa)i cel On Apr 13, 2018, at 8:09 AM, Richard Kahn < > wrote: it is not my eagerness for resolution that is the driver , it is my true desire not to have this blow up and see little justification for the delay . you and i agreed ,we could choose from clear alternatives that met and alleviated the purported concerns of harry and the girls. I have taken you at your word.. Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor New York NY 10022 Ph Fax Cel On Apr 13, 2018, at 7:54 AM, Max Kohlenberg > wrote: Good morning Rich — I've had several further exchanges with Harry and have reached out to Avi and Diane in hopes that I can set up a call with them on Sunday (or early next week at the latest). I appreciate your eagerness (and Noam's) to get this resolved. I can assure you that your eagerness cannot be any greater than mine. As soon as I speak with Avi and Diane I will get back to you. Thanks, Max A. Max Kohlenberg Howland Evangelista Kohlenberg Burnett, LLP One Financial Plaza — Suite 1600 Providence. d 02903 Di Mai Fax www.hekblaw.com This email and any attachments thereto are intended only for use by the addressee(s) named herein and may contain legally privileged and/or confidential information. If you are not the intended recipient of this EFTA00833439 email, you are hereby notified that any dissemination, distribution or copying of this email, and any attachments thereto, is strictly prohibited. If you have received this email in error, please immediately notify me by return email and permanently delete the original and any copy of this message or attachment. Thank you. Original Message From: Richard Kahn [mailto Sent: Thursday, April 12, 2018 3:57 PM To: Max Kohlenberg Subject: Re: Working to resolution tomorrow? I am sincerely trying to be understanding of the time delay.. Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fa) ce On Apr 11, 2018, at 10:51 AM, Richard Kahn < wrote: As im sure you realize. I took you at your word that the concern was for Noam not depleting the trust in his lifetime. and NOT a money grab by the children. As you and I can now craft a bullet proof solution to the former . i am very concerned that my fears are coming to fruition in the latter. Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fa ce EFTA00833440 On Apr 11, 2018, at 9:23 AM, Richard Kahn < > wrote: should we have an all hands conference.. Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 to On Apr 11, 2018, at 9:09 AM, Max Kohlenberg < > wrote: I'd love to Rich, but Harry is in the process of discussing the options with others and as of last night (when I exchanged emails with him) there was still discussion going on. I'll keep pushing things forward today. Thanks, Max A. Max Kohlenberg Howland Evangelista Kohlenberg Burnett, LLP One Financial Plaza — Suite 1600 Providence, Rhode Island 02903 Di Mai Fax www.hekblaw.com EFTA00833441 This email and any attachments thereto are intended only for use by the addressee(s) named herein and may contain legally privileged and/or confidential information. If you are not the intended recipient of this email, you are hereby notified that any dissemination, distribution or copying of this email, and any attachments thereto, is strictly prohibited. If you have received this email in error, please immediately notify me by return email and permanently delete the original and any copy of this message or attachment. Thank you. Original Message From: Richard Kahn [mailto I Sent: Wednesday, April 11, 2018 8:49 AM To: Max Kohlenberg Subject: Re: Working to resolution can we resolve this today? Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 to fa ce On Apr 6, 2018, at 1:54 PM, Max Kohlenberg > wrote: Thanks Rich. Original Message From: Richard Kahn [mailto: Sent: Friday, April 06, 2018 12:40 PM To: Max Kohlenberg EFTA00833442 Subject: Re: Working to resolution max, if preferred noam can pay the 500k back to the trust, take the full 3 million distribuiton and gift the children 500k, same day. for exmple. Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fa) ce On Apr 6, 2018, at 9:05 AM, Max Kohlenberg < wrote: Rich - I'm afraid I don't agree that negotiating the amount the children will receive needs to be gotten out of the way first. I think the first step is to figure out which of the three alternatives that we've discussed are actually viable. I am not concerned about Mass. law, but if a "carve off" for the children can't be accomplished without triggering a retroactive estate tax (with interest and penalties) then it may be that the unitrust (at some agreed rate) will be the only alternative worth considering. I am looking into that (as I said) and I will also calculate the tax cost if we do follow a course that results in loss of the marital deduction, in case that cost turns out to be little enough not to dissuade us from an approach that triggers it. If my concerns turn out to be unfounded that will be great, of course, but some review of this issue at your end (whether by Beth Tractenberg or some other attorney trusted by Noam) would be helpful. As noted, given the children's concern that the money doesn't run out during Noam's lifetime, I'd really like to see what the annuity figures might be for a life annuity (as opposed to a fixed term annuity). That could be run assuming funding with $2M. The result would provide us with a baseline which we could scale from depending on what amount might actually end up being allocated to the children. I am also following up with Noam's daughters, as noted. EFTA00833443 Max A. Max Kohlenberg Howland Evangelista Kohlenberg Burnett, LLP One Financial Plaza — Suite 1600 Providence, Rhode Island 02903 Dire Main Fax: www.hekblaw.com This email and any attachments thereto are intended only for use by the addressee(s) named herein and may contain legally privileged and/or confidential information. If you are not the intended recipient of this email, you are hereby notified that any dissemination, distribution or copying of this email, and any attachments thereto, is strictly prohibited. If you have received this email in error, please immediately notify me by return email and permanently delete the original and any copy of this message or attachment. Thank you. Original Message From: Richard Kahn [mailto: Sent: Thursday, April 05, 2018 12:34 PM To: Max Kohlenberg Subject: the first issue is the amount that the children will claim belongs to them. . lets get that out the way. I have taken you at your word as you said that was definitely not the hold up as they only wanted to make sure the assets were there for noams lifetime. the annuity can be custom structured for a guaranteed 5 year 8 or 10 year payout, for noam and his estate. the trust could buy the policy, no violation of mass law. I expect noam to receive 2 million dollars of the 2.5 and the children can have the balance. we will need to deal with the 500k note. Beth will join the litigation if need be, so no advice for the moment. Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 EFTA00833444 tel fa ce On Apr 5, 2018, at 10:28 AM, Max Kohlenberg < wrote: Rich - I will definitely be in touch with any questions (today if I can). But a resolution today will not be possible. Harry is considering the alternatives you've suggested, as am I. I will also want to review the alternatives with Noam's daughters. (As I have noted, although they are not trustees they remain essential parties to any settlement.) In addition to the substantive pros and cons of each approach, I will also need to consider the tax implications of the various alternatives that have been suggested (annuity, unitrust or division/distribution), since we don't want any resolution to constitute an impermissible disposition of a marital trust, as that would trigger very substantial Massachusetts and federal estate taxes, interest and penalties, based on the retroactive disallowance of the marital deduction taken at the time of Carol Chomsky's death. With respect to this aspect, if Beth Tractenberg is already familiar with this case, perhaps we could have the benefit of her insight on these issues? I would be grateful for that. With respect to the annuity alternative, I'm not entirely sure I understand the materials provided by Jarad Minsky. In particular it's not clear to me whether the annuity illustration shows a five year payout, with no further payments even if Noam is still living in 2023, or whether it illustrates a minimum five year payout (even if Noam dies during that time period). Would you have any objection to my speaking with Jarad directly to clear up that question (and perhaps others)? Thanks, Max A. Max Kohlenberg EFTA00833445 Howland Evangelista Kohlenberg Burnett, LLP One Financial Plaza — Suite 1600 Providence, Rhode Island 02903 Dire Mai Fax: www.hekblaw.com This email and any attachments thereto are intended only for use by the addressee(s) named herein and may contain legally privileged and/or confidential information. If you are not the intended recipient of this email, you are hereby notified that any dissemination, distribution or copying of this email, and any attachments thereto, is strictly prohibited. If you have received this email in error, please immediately notify me by return email and permanently delete the original and any copy of this message or attachment. Thank you. Original Message From: Richard Kahn [mailto: Sent: Thursday, April 05, 2018 9:26 AM To: Max Kohlenberg Subject: I'm hoping for a resolution today . If you have any questions please lets set a time to speak. Thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fa) eel EFTA00833446 On Apr 4, 2018, at 9:09 AM, Max Kohlenberg < wrote: Thanks for this Rich. I will review it (and the prior email with attachments). I will get back to you ASAP with any questions. A. Max Kohlenberg Howland Evangelista Kohlenberg Burnett, LLP One Financial Plaza - Suite 1600 Providence, Rhode Island 02903 www.hekblaw.com This email and any attachments thereto are intended only for use by the addressee(s) named herein and may contain legally privileged and/or confidential information. If you are not the intended recipient of this email, you are hereby notified that any dissemination, distribution or copying of this email, and any attachments thereto, is strictly prohibited. If you have received this email in error, please immediately notify me by return email and permanently delete the original and any copy of this message or attachment. Thank you. Original Message From: Richard Kahn [mailto Sent: Tuesday, April 03, 2018 5:15 PM To: Max Kohlenberg Subject: max: without noams approval: which i would undertake to get - we can do a guaranteed 5 year payout for the 2 million leave the balance for hany and sisters. if noam passes the balance of the 5 year goes to his estate... easy Richard Kahn EFTA00833447 HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fa ce EFTA00833448