Re: Estate of Amanda F. Lauterbach, dec'd.
Dear Madam:
We enclosed a printed copy of the proposed settlement agreement in the above Estate. We sent three copies to Mme. Cor. Ramondt-Hirschmann, 14/3 Daniel de Langestr, Amsterdam, Netherlands, on Saturday, via SS PARIS. We were informed by the Foreign Postal Service in New York that the copies of the agreement would be delivered to Mme. Hirschmann on or about October 22d or 23d. We explained in our letter to Mme. Hirschmann the general terms of this agreement, and requested her not to execute the agreement until she received a cable from either you or Miss Balch, or both of you, requesting her to execute it. We are employing this method so that the agreement may be on its way to Holland while you and Miss Balch are examining the terms thereof. We asked Mme. Hirschmann to return the agreement, executed, to us, as quickly as possible after receipt of the cable from you or Miss Balch, or both of you, requesting her to execute it. [page 2]
Mme. Hirschmann, as Treasurer of the League, will, we believe, eventually receive about $25,000. under this agreement. This sum is made up of the $5,000. legacy, plus 13 7/10% of the residuary estate, which is subject to deduction for taxes, as set forth in the agreement. As near as we have been able to ascertain, the residuary estate amounts to about $160,000. These two items referred to, as we have stated, will probably amount to about $25,000. In addition, there is a contingent interest mentioned in paragraph "Fifth," page "5," of the agreement.
You will note from the agreement itself, (paragraph "Ninth," page "7," of the agreement) that the whole agreement and the payments to be made under it are subject to the approval of the Surrogates' Court, and payments to Mme. Hirschmann, as Treasurer of the League, will only be made upon condition that the Surrogate approves of the whole agreement. We are not, at this time, taking up the situation that would present itself if the Surrogate disapproves the agreement or disapproves of such parts of the agreement as affect Mme. Hirschmann, as Treasurer of the League.
You will note from the agreement that the parties of the first part are the children of the decedent, Amanda F. Lauterbach, who objected to the will and codicil; the parties [page 3] of the second part are beneficiaries under the decedent's will; the parties of the third part are the Executors named in the will; the parties of the fourth part are two Charities, incorporated under the Laws of New York; and the party of the fifth part is Mme. Hirschmann, as Treasurer of the Women's International League for Peace and Freedom.
Exhibit "A" is Mrs. Lauterbach's will, which commences on page "13." This will has been changed in certain respects by the codicil, which is called Exhibit "B," and begins on page "21." Where a will is changed by a codicil, the provisions of the codicil prevail, and, in this connection, you will note, in reading the codicil, that entire paragraphs of the will are revoked and new provisions are made.
Paragraph "First" of the agreement, on page "2," is of no interest to the League, since Article "Seventh" of the will does not make any gift to the League; likewise, paragraphs "Second" and "Third" of the proposed agreement, found on page "3," are of no interest to the League, for the same reason.
Paragraph "Fourth" of the agreement, which starts at the bottom of page "3," is of interest, since the League is a residuary legatee, and, you will note, at the bottom of page "4," that Mme. Hirschmann, as Treasurer of the League, will be paid [page 4] 13 7/10% of the residuary estate. This payment is in addition to the $5,000. legacy which is given to the League by the codicil, on page "22." You will note, however, that the residuary share payable to Mme. Hirschmann, as Treasurer, will be charged with the amount of the New York Transfer Tax, if any, upon the League's interest, as computed under the will and codicil, and not under the agreement.
Paragraph "Fifth" of the agreement, on page "5," provides that the trust fund set up by Article "Second" of the codicil, to be found on page "23," shall be governed by the terms of the codicil. Mme. Hirschmann's interest, as Treasurer of the League, in this trust fund for $50,000. is contingent upon Edward Werner dying without issue, and, if this event so happens, and his wife, Cecilia, survives him, then Mme. Hirschmann, as Treasurer of the League, will receive an equal one-third portion of the principal, after the death of Cecilia.
We believe that this proposed settlement agreement embodies the best terms obtainable, and advise that the agreement should be accepted, and that Mme. Hirschmann should be instructed to execute it. All further action in this matter, at the end, awaits the receipt by us from Mme. Hirschmann of the agreement, executed by her. [page 5]
We have been informed by one of the temporary administrators that, if the whole agreement is approved by the Surrogate, the cash legacy of $5,000. will be paid promptly, and an effort will be made by the Executors to make further distribution as quickly as they are able to do so. You will note in the first full paragraph, on page "5" of the agreement, indicated by "(d)," that distribution of the residuary estate, whether in full or partially, will be made ratably among the parties.
If there is any question arising in your mind with regard to this matter, or if any part of this letter is not entirely clear, we hope that you will communicate with us. Undoubtedly, you will wish to communicate with Miss Balch, and obtain an expression from her of her opinion in this matter. We are writing a similar letter to Miss Balch, and sending her a copy of the agreement also. If and when you or Miss Balch, or both of you, cable to Mme. Hirschmann, will you kindly advise us.
Very truly yours,
Alexander & Keenan [signed]
1 Enc.
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