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Other Circumstances
Mr. Leonard had open-heart surgery in 1977 and 1980. Around
1983, he considered himself substantially retired. In 1986, Mr.
Leonard’s doctor recommended that he limit his work to 6-8 hours a
day. In 1987, at 67 years of age, Mr. Leonard limited his work to
7-8 hours a day, 6 days a week.
In 1985, Mr. Leonard underwent a divorce. Pursuant to a
February 27, 1986, temporary support order of the Superior Court of
Arizona, Mr. Leonard was required to cause one of his corporations
to pay his estranged wife a salary; accordingly, petitioner paid
Mrs. Leonard $3,000 a month (even though she did not work for
petitioner). In April 1987, the Maricopa County Superior Court
entered a decree of dissolution of marriage with regard to the
Leonards. Mr. Leonard and his estranged wife agreed to a property
settlement divorce and separation agreement. Pursuant to this
agreement, Mrs. Leonard received from Mr. Leonard money and
property valued at $1,680,000. She also received a 1985 380
Mercedes Benz automobile (which had previously been owned by
petitioner), as well as 1,165,000 class A shares of RLLH stock.
Following his divorce, Mr. Leonard decided to restructure his
companies in light of his imminent retirement. Mr. Leonard retired
in mid-1988.
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