EFTA02549569.pdf

From: Noam Chomsky < Sent: Wednesday, December 13, 2017 6:01 PM To: jeffrey E.; Valeria Chomsky Subject: Fwd: Call with Max - summary Max's latest. Outrageous. My inclinat=on is to contact my children and request again that they instruct Max to r=sign. Then take it from there. What do you think? Forwarded message From: Deborah Pechet Quinan < Date: Wed, Dec 13, 20=7 at 10:36 AM Subject: Call with Max - summary To: "Noam Chomsk= <mailto )" &l= <mailto >, "=Valeria Chomsky <mailto > )" < <mailto >, "Richard Kahn Dear Noam, Valeria and Richard, I spoke with Max yesterday afternoon. He reite=ated his position that he is not prepared to make distributions without so=e level of financial disclosure. We discussed my view that the level=he would like to see is unreasonably intrusive. I proposed that a financial statement should be sufficient. He count=red that in addition to a financial statement he would require a statement=of current cash flows as he is concerned about "burn rate"=and how long the trust funds would be projected to last at the current burn rate given increasing life expectancies generally.,=A0 Max did not state that he would be willing to accept=less disclosure than what he requested in his November 30th ema=l to Richard. I stressed that this particular request was unreasonably int=usive, disrespectful and paternalistic. I do believe Max would be amenable to some level of reduced disclosure.Q=A0 I put pressure on him to release the $150,000 for the tax estimate with=ut any financial disclosure, within the next two days, due to the signific=nt adverse income tax aspect of using Noam's IRA to pay these taxes. He said he would consider this and =et back to me very soon. I do not believe Max will be willing to consider the=$109,271 distribution or the $500,000 distribution without the financial s=atement and cash flows at a minimum. I would be happy to discuss wit= you his rationale. Please let me know what level of financial disclosure you are willing to currently provide, i= any. EFTA_R1_01704852 EFTA02549569 Max does understand that we may be taking further st=ps with respect to this matter and appears to be prepared for that althoug= he agreed with me that it is in everyone's best interests to reso=ve this in a mutually agreeable fashion. Max indicated that he has consulted with some attorneys in the Boston Bar =ho are very experienced in matters of trust administration and they genera=ly supported his position. With respect to the appointment of a successor indep=ndent trustee he indicated that Harry would likely agree to a very well re=pected corporate trustee as they would also require some level of detailed=financial disclosure. He indicated that Harry would likely not agree to appoint Richard as during his and Ric=ard's discussion, Max stated that Richard told Harry that the trus=s were "tax trickery" and that the trust funds are Noam4>=804>s money. Max also stated that he did not expect that the $500=000 loan that the trust made to Noam would be repaid. I told him I c=uld not comment on that. I would be happy to arrange a call with everyone at = mutually convenient time to further discuss the above, additional details=of the call, and next steps. I will of course report back as soon as=l hear from Max with respect to the tax estimate of $150,000. Best, Deborah Deborah Pechet Qui=an, Esq. LL.M.Q=A0 Shareholder Chair, Trusts & E=tates Group 255 State Street,=7th Floor <https://maps.google.com/?q=255+State+Street,+7th+Floor%C2c4A0%7=%C2%A0Boston,+MA+02109&entry=gmail&sou rce=g> <= href="https://maps.google.com/?q=2554-State+Street,+7th+Floor%C2%A0%7C=C2V0A0Boston,+MA+02109&entry=gmail &source=g"> I Boston, MA 02109 <https://maps.google=com/?q=255+State+Street,+7th+Floor%C2%A0%7C%CrAA0Boston,+MA+02109&en=ry=gmail&so urce=g> =U> 2 EFTA_R1_01704853 EFTA02549570 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. 3 EFTA_R1_01704854 EFTA02549571