1. For reasons which I explained to you, unless there is to be
a substantial increase in the Estate-Gift Tax combined credit,
I would like to divest myself of the children's custodial accounts
now in my name. Legally  Rebekah's and Nathaniel's assets could be
turned over to them now; Benjamin's as soon as he turns 18. I very
much respect your judgment that the children are not ready to manage
their own money. Subject to your consent, I propose to transfer
my custodianship to you within the next few weeks. All that would
be required of you at this time is your consent and your signature.
Please let me know if you agree. At a later date you could at your 
leisure transfer these funds into the trusts that I drafted for you.
I would help you, if you wished.

2. After more legal research, I conclude that the Section 529 College
Tuition Plans might prove very useful to us, and subject to your
approval, I plan to set up accounts for Mommy and myself as donors
to each of the four children, a total of eight accounts - each of
which could be liquidated with a letter or even a telephone call.
The initial investment is $50 per account, a total of $400. My 
tentative plan is to fund each of these accounts with an additional
$12950 in the week of December 22, 2010, and put an additional $13000
into each account next year. These transfers would aggregate $208000
and would reduce Mommys and my estates by that amount. Until they
were disbursed, these funds would still be available to Mommy and
myself in case of need.

3. To the extent that both you and Laura are overworked, please consider
reducing the hours and the intensity of your efforts and to compensate
for any loss of income, withdrawing funds from the Trust No. 3, from 
the children's custodial accounts and or from the Section 529 accounts 
as they accrue. What should be optimized is not the family's "gross estate" 
but the well-being of the family and its individual members.

4. If all this sound too Polonius-like, I apologize.

5. Mommy and I expect to leave for Nantucket tomorrow at 6 a.m.
and to return by 10 p.m. The computer is already in the car.
I've wrapped it in a mattress pad, secured with ropes by which I
can easily carry it. The hand-truck won't be necessary.