perm filename FAMILY.PL[1,VDS] blob sn#283385
filedate 1975-11-04 generic text, type C, neo UTF8
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C00002 00002 \\M1BDR30\M2SIGN57\M3NGR25\M4NGR20\F3\CVICTOR SCHEINMAN
\F3\C3689 SOUTH COURT
\CPALO ALTO, CA. 94306
\F1\COctober 28, 1975
New York, N.Y.
Although I am not much of a correspondent, I have been
prompted to write this general letter to all the "Scheinman" aunts,
and cousins. Please excuse the formality of this computer generated
letter, but let me assure you that I personally have composed and
produced this letter, using the computer merely as a printing aid.
As we all know, my father was trustee for the Scheinman
trusts set up by the will of Grandpa Scheinman. In going over the
documents kept by my father, I have found bank accounts for each aunt
and cousin, and an additional Trust Account bank account. The
amounts remaining in each personal account vary from individual to
individual. The general trust account contains about $XXXX.XX at the
present time. I am not sure of the exact ownership of this money,
but assume that it represents an operating fund with equal portions
attributable to each trustee account. Since my father's death these
accounts have been inactive as it appears that he was the only
authorized name on the account. In addition, I have been unable to
find a mention of a successor trustee.
As everyone probably desires to terminate the trust and close
out their accounts, I propose that I be authorized to act in your
behalf and proceed to have all the trust accounts terminated, and all
the funds disbursed. To this end, I also propose that all of you
waive an official audit of the accounts, as it appears that the costs
of any audit would more than equal the balances in most of the
accounts. To furthur simplify matters, I suggest that the general
operating account be closed and the assets of this account, after all
expenses, be divided equally among all the trusts, on the assumption
that the operating expenses of each trust are the same, regardless of
I have talked to the accountant for these accounts, Mr. David
Mason, and he has advised me that there will be an expense for filing
of last year's and this year's tax return, plus next year's return
should we not close the accounts before the end of the year.
I hope that this plan is acceptable to all, and it is
agreeable to all that I act in your behalf to close the accounts and
distribute the remaining funds. As I am not a trustee, I will agree
to perform all the services at cost, with no commission or personal
renumeration. This will furthur simplify matters.
I suggest that each person sign and return the enclosed form
which will authorize me to act on your behalf to expedite the closing
of the trust accounts.
I have enclosed a copy of the last page of your trust account
bankbook showing the approximate current balance and the most recent
transactions. Interest due since my father's death is not shown. It
appears that all the assets of the trust accounts are represented by
these bank accounts, and no other assets are currently in stocks or
\CIN THE MATTER OF THE SCHEINMAN TRUST
\CLeonard Scheinman (deceased), trustee
\J As no successor trustee has been designated, I hereby authorize
Rictor Scheinman (son of Leonard Scheinman) to act on my behalf to pay all due
expenses and properly distribute all remaining funds to the assigned beneficiaries.
Furthurmore, I waive the right to a formal audit of my trust account, and
agree to accept an informal statement by Victor Scheinman instead. I understand
that the current balance of my trust account is approximately $XXXX.XX.\.
\R Signed _________________________
\R Xxxxxxxx Scheinman