EFTA02547399.pdf

From: Valeria Chomsky Sent: Thursday, December 14, 2017 10:26 PM To: Noam Chomsky; jeffrey E. Subject: Fwd: FW: Carol S. Chomsky Marital Trusts - Distribution Attachments: image001.gif I think Richard should answer this letter. <=iv> Forwarded message From: Deborah Pechet Quinan <mailto Date: Thu, Dec 14, 2017 at 3:23 PM Subject: RE: FW: Caro= S. Chomsky Marital Trusts - Distribution To: Noam Chomsky <nchomsk 3 mail.com> Cc: Valeria =homsky ) , Richard Kahn <mailto ) <mailto: 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> 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, EFTA_R1_01701693 EFTA02547399 Deborah =A0 Deborah Pechet Quinan, Esq. LL.M. Shareholder Chair, Trusts & Estates Groupapan style="font-size:10.5pt;font-family:"Calibri","sans-s=rif";color:black"> 255 State Street,=7th Floor <https://maps.google.com/?q=255+State+Street,+7th+Floor%C2%A0%7=%C2%A0Boston,+MA+02109&entry=gmail&sou rce=g> I <https://ma=s.google.com/?q=255+State+Street,+7th+Floor%C2%A0%7C%C2%A0Boston,+MA+021=9&entry=gmail&sou rce=g> =C2 Boston, MA =2109 <https://maps.google.com/?q=255+State+Street,+7th+Floor%C=%A0%7C%C2%A0Boston,+MA+02109&entry=gmail&sou rce=g> Direct l Cell: Assistant - Jayne Mahoney: Office Fax: e-mail:=C2 dpq@riw.com <mailto:dpq@riw.com> = www.riw.com <http://www.riw.co=/> I BIO <http://www.riw.com/at=orney/deborah-pechet-quinank From: Noam Chomsky (mailto Sent: Thursday, December 14, 2017 12:38 PM To: Deborah Pechet Quinan Cc: Valeria Chomsky ); Richard Kahn Subject: Re: FW: Carol S. Chomsky Marital Trusts - Distribution</=> 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, 2 EFTA_R1_01701694 EFTA02547400 Please see Max's response to the discussion 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 items below. I =m 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 agreeing to and ackn=wledging item 2 and the items set forth therein. As soon as I receiv= this from you I will proceed asap to respond to Max in 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 corporate trustees h= references in item 3. It can't hurt to see what he is think=ng in this regard. Please let me know if I have your permission to r=quest the list. I await your response. Thank you, Deborah Deborah Pechet Qui=an, Esq. LL.M. =A0 Shareholder Chair, Trusts & E=tates Group <https://maps.google.com/?q=255+State+Street,+7th+Floor%C2VOA0%7=%C2%A0Boston,+MA+02109&entry=gmail&sou rce=g> I chttps://maps.google.comfiq=255+State+Street,+=th+Floor%C2%A0%7C%C2%A0Boston,+MA+02109&entry=gmail&sou rce=g> =C2 Boston, MA 02109 <https://maps.google.com/?q=255+State+Street,+7th+Floor%C=%A0%7C%C2%A0Boston,+MA+02109&entry=gmail&sou rce=g> Direct tel: C2 I Cell: </=pan> Assistant - Jayne Mahoney: Office =pan style="color:#1f497d"> e-mail: dpq@riw.com <mailto:dpq@riw.com> =AO I www.riw.com chttp://ww=.riw.com/> I BIO <http://www.riw.com/attorney/deborah-pechet-quinaq> 3 EFTA_R1_01701695 EFTA02547401 From: Max Kohlenberg [mailto: Sent: Thursday, December 14, 2 To: Deborah Pechet Quinan Subject: Carol S. Chomsky Marital Trusts - Distribution Deborah — I'm following up on our conversation on Tuesday about princip=l distributions to Noam from the Carol S. Chomsky marital trusts. Pl=ase consider the following: 1. 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 mindful of the interests of Noam =80 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 to b= Noam's interests.) <1=> 2. 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. 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> <1=> If you are in agreement with the points set out above, please reply a=knowledging each of them and please also affirm that (as 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 4 EFTA_R1_01701696 EFTA02547402 accountant to prepare a suitable estimated tax payment voucher and forward=it directly to me as soon as possible. I will then ask Noarni= investment advisors at Bainco to raise the necessary funds and make the p=yment. Looking forward to your reply, Max A. Max Kohlenberg=u> Howland Evangelista Kohl=nberg Burnett, LLP One Financial Plaza =80 Suite 1600 Providence, Rhode Island=02903 Direct: Main: Fax www.hekblaw.com <http://www.herblaw.comh This email and any attac=ments thereto are intended only for use by the addressee(s) named herein a=d 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, 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. Thank you. NOTICE: This email with its attachments, if any, is =ntended solely for permitted use by authorized recipients. If you are not =n authorized recipient of this email, your retention, transmission, disclo=ure, or use of this email is prohibited. If you received this email in error, please notify the sender and delete t=is email and its attachments from your devices and systems. 5 EFTA_R1_01701697 EFTA02547403 NOTICE: This email with its attachments, if any, is intended solely for per=itted use by authorized recipients. If you are not an authorized recipient=of this email, your retention, transmission, disclosure, or use of this em=il is prohibited. If you received this email in error, please notify the sender and delete this email and it= attachments from your devices and systems. Valeria Chomsky 6 EFTA_R1_01701698 EFTA02547404