EFTA02549518.pdf

From: Richard Kahn < Sent: Wednesday, December 13, 2017 5:33 PM To: jeffrey E. Subject: Fwd: Call with Max - summary Richard Kahn HBRK Associates Inc. 575 =exington Avenue 4th Floor New York, NY 10022 Begin forwarded message: From: =/b>Deborah Pechet Quinan < Subject: =/b>Call with Max - =ummary Date: =/b>December 13, 2017 at 12:36:42 =M EST To: =/b>"Noam Chomsky », "Valeria Chomsky "< >, "Richard Kahn 1 1" < Dear Noam, Valeria and =ichard, I spoke with Max yesterday afternoon. He reiterated his =osition that he is not prepared to make distributions without some =evel of financial disclosure. We discussed my view that the level =e would like to see is unreasonably intrusive. I proposed that a =inancial statement should be sufficient. He countered that in =ddition to a financial statement he would require a statement of =urrent cash flows as he is concerned about "burn rate" =nd how long the trust funds would be projected to last at the current =urn rate given increasing life expectancies generally. Max did =ot state that he would be willing to accept less disclosure than what =e requested in his November 30th email to Richard. I =tressed that this particular request was unreasonably intrusive, =isrespectful and paternalistic. I do believe Max would be =menable to some level of reduced disclosure. I put pressure on =im to release the $150,000 for the tax estimate without any financial =isclosure, within the next two days, due to the significant adverse =ncome tax aspect of using Noam's IRA to pay these taxes. He =aid he would consider this and get back to me very soon. EFTA_R1_01704779 EFTA02549518  I do not =elieve Max will be willing to consider the $109,271 distribution or the =500,000 distribution without the financial statement and cash flows at = minimum. I would be happy to discuss with you his rationale. =lease let me know what level of financial disclosure you are willing to =urrently provide, if any. Max does understand that we may be =aking further steps with respect to this matter and appears to be =repared for that although he agreed with me that it is in everyone'= best interests to resolve this in a mutually agreeable fashion. =ax indicated that he has consulted with some attorneys in the Boston =ar who are very experienced in matters of trust administration and they =enerally supported his position. With respect to the appointment of a =uccessor independent trustee he indicated that Harry would likely agree =o a very well respected corporate trustee as they would also require =ome level of detailed financial disclosure. He indicated that =any would likely not agree to appoint Richard as during his and =ichard's discussion, Max stated that Richard told Harry that =he trusts were "tax trickery" and that the trust funds =re Noam's money. Max also stated that he did not expect that the $500,000 loan =hat the trust made to Noam would be repaid. I told him I could =ot comment on that. I would be happy to arrange a call with =veryone at a mutually convenient time to further discuss the above, =dditional details of the call, and next steps. I will of course =eport back as soon as I hear from Max with respect to the tax estimate =f $150,000. Best, Deborah Deborah Pechet Quinan, Esq. 11.M. Shareholder Chair, Trusts & Estates =roup 255 State Street, 7th Floor I Boston, MA 02109 NOTICE: This email with its attachments, =f any, is intended solely for permitted use by authorized recipients. =f you are not an authorized recipient of this email, your retention, =ransmission, disclosure, or use of this email is prohibited. If you =eceived this email in error, please notify the sender and delete this =mail and its attachments from your devices and =ystems. 2 EFTA_R1_01704780 EFTA02549519