From: Jeffrey Epstein <[email protected]> To: Ada Clapp < >, Melanie Spinella Subject: Re: Next Steps Black Planning Date: Sat, 19 Oct 2013 00:32:43 +0000 decant 2006 and 1996 into two new apo trusts. so we have three. will decide later on combination if any On Fri, Oct 18, 2013 at 7:04 PM, Ada Clapp < > wrote: Hi Jeffrey, Attached are the latest drafts of the GRAT, APO1 Trust and the assignment form. I got them today and will look them over on Monday. I think we are ready to go once we resolve some decanting issues (as our decision may change the APO1 Trust slightly). I was hoping to get your thoughts. Here is the broad brush (more detail by phone, if you wish). We could use the APOI Trust as the decanting receptacle for the 2006 Trust and the 1997 Trust while Leon is deciding on the terms of the Heritage Trust. That way, we would not have to wait for the Advisory Option to decant the 2006 Trust as we could include in the APO I Trust the same substitution language. I have to convince Alan to do this as he does not like Carlyn's language and thinks any substitution language should work fine if your client gets a positive ruling. The safer approach is to do the substitution using the same language quoted in the petition- on the slight chance that it is material to the Opinion. Because, the APOI trust will eventually be decanted into the Heritage Trust which can include language Alan likes, it is a temporary problem for him. If we use the APO1 Trust to decant both trusts, there are two additional issues to address. Issue 1. Because the1997 Trust does not authorize Trustees to decant, they have to rely on the NY statute to do so. According to Alan (I have not yet checked), the NY statue requires that any powers of appointment given to beneficiaries in the original trust cannot be cut back in the receptacle trust. The 1997 Trust gives Leon's children a broad power at their death to appoint their trust property to anyone (other than themselves