Estate of Burton W. Kanter, Deceased, Joshua S. Kanter, Executor, and Naomi R. Kanter, et al. - Page 408

                                                 -50-                                                   
            Kanter’s family, and other relatives of Kanter.  By about 1977,                             
            Kanter had purportedly renounced all of his interest as a                                   
            beneficiary in the Bea Ritch Trusts.26  Solomon Weisgal                                     
            (Weisgal), an accountant and a longtime friend and business                                 
            associate of Kanter, has been the sole trustee of the Bea Ritch                             
            Trusts since 1969.  As trustee of the Bea Ritch Trusts, Weisgal                             
            has an extremely broad power either to accumulate the Bea Ritch                             
            Trusts’ income or to distribute (i.e., sprinkle) the trusts’                                
            income and assets among all or any of the trusts’ beneficiaries                             
            in virtually any manner he deemed appropriate.                                              
                  c.  IRA’s Officers and Directors                                                      
                  Before October 27, 1975, Keating was IRA’s president and                              
            secretary.  Exh. 9050.  On October 27, 1975, Keating resigned as                            
            IRA’s president.  Id.                                                                       
                  On October 27, 1975, Schott was elected IRA’s president,                              
            and Sharon Meyers (Meyers) was elected IRA’s secretary.  Id.                                
            Meyers had originally worked as Kanter’s secretary.  Meyers,                                


                  26  Whether Kanter’s alleged renunciations were shams is a                            
            factual question raised infra Issue V.  In any event, numerous                              
            additional trusts were later added as beneficiaries to the Bea                              
            Ritch Trusts.  Exhs. 135, 9187, 9269, 9270, 9271.  See app. 17 to                           
            this report.  Additional trusts (and groups of trusts) for the                              
            benefit of Kanter’s family members included the Everglades Trusts                           
            (5), the T.C. Family Trust, the Egandale-Vine Trust, the Beach                              
            Trust, the Baroque Trusts (3), the Softy Trusts (10), the                                   
            Pillpoppers Trusts (3), and the Chamber Trusts (3).  Exhs. 9213-                            
            9220.                                                                                       




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