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STATE OF NEW YORK SURROGALES’S COURT ; COUNTY OF SUFFOLK _ ~X Probate Proceeding, Ne Will of Nicholas Psaroudis "APEIDAVIT OF DELAY File # 2045 P 2003 Deceased. STATE OF NEW YORK } COUNTY OF SUFFOLK, Js. The undersigned, being duly swom, deposes and says J, dam the attorney and named executor for the Estate of Nicholas Psarondlis . That this affidavit is submitted in support of a Probate Petition being submitted by the undersigned in my capacity as named executor for the probate of the wall of Nichotas Psaroudis, wh died en April 3, 2001. 3, The delay in probating the will was primarily the result of the combination of fi) the imtial belief that all assets owned by Mr. Psaroudis at Ihe time of his death were in fact held in the Nichoias Psuroudis Revocable Living Trust thereby climinating the need to probate the will, {Gi) an ongome dispute between two beneficiaries under Mr, Psaroudis’ Trust, namely Ms. Mim Paladino and Mary Ann Hennen, 1s to right to the value of certain jewelry (approximate value of $20,000) left in Mr. Pseroudis's home at the time of his death and, indeed. the propriety of the transfer of the home of Mr. Psaroudis to May Ana Hennen (approximate value of $455,000), the registered nurse giving primary care to Mr. Psaroucls in his home at the time of his death, (ii) the discovery of the pwo bank accounts in Mr. Psaroudis’s name after Mr. Psaroudis’ death necessitating the probate of the will and (iv) my own hesitancy as Trustev and named Executor to {ile the probate petition before | knew if there was to be a challenge to the transfer of the assets of Mr. Psaroudis’ estate, 4. Since the date of Mr. Psaroudis' death, Ms, Paladino has from time to time indicated a desire to challenge the terms of the Nicholas Psauuiliy Revocable Living Trust and the decedent's Will, which provide for the transfer of the Mr. Psaroudis” home to Ms. Mary Ann Hennen, Mr. Psaroudis’ nurse at the time of his death, In addition to the home, Ms. Hennen has insisted that approximately $20,000.00 worth of jewelry located in the home at the time of Mr Psaroudis’ death should also be transferred to Ms. Hennen as constituting “contents of the home". Ms. Paladino has objected io that interpretation of the Trust, as well, 5. Inan attempt to resotve this potential dispute between Ms, Paladino and Ms, Hennen, 1 hhave encouraged Ms. Hennen fo obiain counsel for over two years. To datc, to my kuowledye, Ms. Hennen has not retained counsel to represent her in this matter. J have been contacted by four separate attorneys who have made an initiat inquiry on Ms. Hennen’s behalf, but understand that all have declined to represent her in this matter. 5. Ms. Paladino did retain counsel some time ago and I have been working with him to attempt to resolve this matter by reaching an agreement between Ms. Paladino and Ms, Hennen and my seif'as Trustee and named Executor. me 6, Inaddition, during this time, I had been in contact with the Now York State Attomey General's office to inquire as 10 whether they would have any objections, as representatives of the named charities in the Trust, to the transfer of the home and/or jewelry, I uve been informed that the NYS Attomey Generat’s ollice has no objection. 7. Unfortunately, Ms. Hennen’s irrational behavior fiom time (o time has caused me to be hesitant to resolve this matter by an informal agreement, which would have included the delivery of rnutual releases by Ms. Paiadino and Ms. Hennen te each other and myself/as a fiduczary, without Ms, Hennen being represented by counsel. Ms. Hemen’s behavior following Mz. Psaroudis’s death has caused me come (o be concerned that she is incapable of fully appreciating the ramifications of an informal accounting agreement which would include mutual releases. She has continwally threatened to bring a lawsuit agaiust nie, die Auoniney General of the State of New York and the United States Attorney General, but has refused to obtain counsel to tesolve this matter. She has gone so far as to file a complaint with the Sulfolk County Police Department alleging that at he time [ collected the jewelry from the home in my eapaeity as named executor and trustee for safe keeping and to have the same appraised. that Fin fact had stolen the jewelry trom the home. 8. On Oclober 30, 2003, after attempts to come 10 an informal accounting agreement (outside of Court) had failed, Ms. Paladino’s attorney, informed me that while Ms. Paladino has not decided at this time to formally challenge the transfer of the home andor jeweley. she did want a formal Court supervised accounting of the estate’s assets. After learning of Ms Paladino’s position, | filed the probate petition approximately one week later to start the process to seoure the Court's guidance in this matter. 9. With the exception of her 30% share of the two bank accounts yet to be liquidated and the value of the jewelry which is the subject of the probate proceeding, Ms, Paladino has received her entire share of the assets due to har under the Trost (less a nonainal reserve) which | have coordinated through her counsel. In addition, all specific bequests, with the exception of one 510,000 bequest «o a couple in England and the delivery of certain dog paintings to certain individuals, have been distributed to the named beneficiaries pursuant to the terms of the Trust. The residual estate will be distributed to the various charities named in the Trust immediately following the liquidation of the remaining assets from the twe bunk accounts which are the subject of the present probate proceeding. Upon the resolution of the who is entitled to the value of the jewelry anticipated (o be resolved in the current proceeding, this asset will be distributed as well, Ms. Flennen has in fact been permitted to remain and five in the house from the time of Mr. Page 2 of 3 Psaroudis” death, thus enjoying the benefits of her bequest as well. I de not believe there has been any prejudice relating to the time elapsed between Mr. Psuroudis* Ueath and de filing of the Probate Petition. 10, Prior to and following Mr. Psaronidis’s death, T have never agreed to be a named executor of trustee in any client’s will or trust. It was enly because Mr. Psaroudis had no living, relatives and ins long-standing relationship with wy law partner, John L. Walsh, and 1 that T reluctantly agreed to act in this fideeiary capacity. | admit that my added role as fiduciary has caused me 0 be extremely cautions in this matter and less aggressive in pushing lor a final decision from the parties involved. [was desirous of resolving this matter by virtue of an informal accounting and mutual ayzeement and releases, without having to resort (o the Surrogate Court's intervention. Hence { hesitated in filing the probate petition iu the hepe of being able to reach such an informal agreement and avoid the expense of filing a formal accounting with the Court, thus leaving more assets to distribute to the charities. [t now has become abundantly elear Thar we are ut ws Lupasse and the Surrogaie’s assistance will be necessary tn vesolve the differences. Swom before me this 3rd day of / December, 2003, Notary Public Page 3 of 3

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