Breaking MSE trust to help Cy go to clock school and gift from Cathy Eaton
May 9, 2010
Dear Dad, Cyrus, John, Elizabeth, and me,
Happy Mother?s Day,
I am writing as sole trustee of the Mary S. Eaton Trust to say that I am authorizing that 1/4th of the Mary S. Eaton Trust be distributed to Cyrus Wind Dancer so that he can fulfill his dream of attending the NAWCC School of Horology Clockmaker Program.
Dad, John, and I all agree to give Cyrus this money. Elizabeth is busy being a mother and grandmother to be with Sarah.
The tuition is $26,000, and Cyrus plans to use his social security moneys ($680 a month) to live on. I expect that Cyrus owns much of the clock repair tools.
The registration fee of $150 is due upon agreement of enrollment.
The class deposit of $1,200.00 is due by May 31, 2010.
As you may know, the market continues to be volatile, and there was a huge downswing in the market this week when the DOW plunged more than 1000 points. As of today, the Mary S. Eaton Trust Account is worth $100,082.10. It is not a good time to sell 1/4th of the account, but I will do that. I will talk to John and my financial advisors about best day to sell the stocks. The exact amount will be determined on the day stocks are sold. With the volatile European markets, the value may fluctuate wildly in the next weeks.
When we sell the stocks, I will mail a check to the NAWCC School of Horology Clockmaker Program for $25,000.
I am happy to help Cyrus expand his horizons and continue to expand his knowledge of clock repair, so that he can pursue his passion and make a living repairing clocks.
I do want everyone in the family to understand that I am breaking Mom?s trust intentions/directives which made it clear that the Mary S. Trust was to be used for Dad?s needs until his death, at which point it was to be divided equally between the four children. I also want everyone to understand that it is my intention as trustee not to break Mom?s directives again.
I ask that Cyrus today sign the enclosed email to me and that John and Dad also sign it and mail to me. Upon receiving the 25% of the Mary S. Eaton Trust, Cyrus agrees to have no further claim on the trust. When you mail me documents, I?ll sign it, too.
In addition, I will give a free and clear gift of $1200 to Cyrus to help him pursue his dream, which if Cyrus agrees, can be used for the class deposit due on May 31st.
Love, Cathy Eaton: trustee, sister, daughter, and mother
Cathy Eaton (trustee)_______________________________
Cyrus Wind Dancer _____________________________________
John Eaton _____________________________________________
Cyrus Eaton ____________________________________________
May 9, 2010
Dear Dad, Cyrus, John, Elizabeth, and me,
Happy Mother?s Day,
I am writing as sole trustee of the Mary S. Eaton Trust to say that I am authorizing that 1/4th of the Mary S. Eaton Trust be distributed to Cyrus Wind Dancer so that he can fulfill his dream of attending the NAWCC School of Horology Clockmaker Program.
Dad, John, and I all agree to give Cyrus this money. Elizabeth is busy being a mother and grandmother to be with Sarah.
The tuition is $26,000, and Cyrus plans to use his social security moneys ($680 a month) to live on. I expect that Cyrus owns much of the clock repair tools.
The registration fee of $150 is due upon agreement of enrollment.
The class deposit of $1,200.00 is due by May 31, 2010.
As you may know, the market continues to be volatile, and there was a huge downswing in the market this week when the DOW plunged more than 1000 points. As of today, the Mary S. Eaton Trust Account is worth $100,082.10. It is not a good time to sell 1/4th of the account, but I will do that. I will talk to John and my financial advisors about best day to sell the stocks. The exact amount will be determined on the day stocks are sold. With the volatile European markets, the value may fluctuate wildly in the next weeks.
When we sell the stocks, I will mail a check to the NAWCC School of Horology Clockmaker Program for $25,000.
I am happy to help Cyrus expand his horizons and continue to expand his knowledge of clock repair, so that he can pursue his passion and make a living repairing clocks.
I do want everyone in the family to understand that I am breaking Mom?s trust intentions/directives which made it clear that the Mary S. Trust was to be used for Dad?s needs until his death, at which point it was to be divided equally between the four children. I also want everyone to understand that it is my intention as trustee not to break Mom?s directives again.
I ask that Cyrus today sign the enclosed email to me and that John and Dad also sign it and mail to me. Upon receiving the 25% of the Mary S. Eaton Trust, Cyrus agrees to have no further claim on the trust. When you mail me documents, I?ll sign it, too.
In addition, I will give a free and clear gift of $1200 to Cyrus to help him pursue his dream, which if Cyrus agrees, can be used for the class deposit due on May 31st.
Love, Cathy Eaton: trustee, sister, daughter, and mother
Cathy Eaton (trustee)_______________________________
Cyrus Wind Dancer _____________________________________
John Eaton _____________________________________________
Cyrus Eaton ____________________________________________