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The Muttontown estate housed masterpiece original works of
art by Titian, Modigliani, Donatello and Velasquez, among others,
worth in excess of fifty million dollars, and benefitted from a
showcase of interior designers on the premises shortly after the
mansion's purchase. The Meyer family owned antiques and
furniture valued at almost $3 million dollars, as well as over
$150,000 worth of jewelry.
From the mid 1980s to the early 1990s Mr. Meyer employed
several chauffeurs who drove him, his clients, the Meyer
children, and to a lesser extent, petitioner, in a Lincoln
stretch limousine. Petitioner retained a live-in
housekeeper/nanny to assist in the upkeep of the sprawling
mansion and to aid her with the younger children while at
Muttontown. During this time Mrs. Meyer accompanied her husband
on several trips, including to "one of the islands" and to Malta.
While Mr. Meyer traveled to Malta ostensibly for business
purposes, petitioner went purely for recreation. During this
period Mr. Meyer maintained a life insurance policy and also
established a trust, both of which named his wife as the
beneficiary.
Although petitioner testified she did not work outside of
the home, she received taxable wages from East Coast Investors,
Ltd. (East Coast), another of her husband's corporations, during
the taxable year 1985. Mrs. Meyer also involved herself as a
director and/or officer of at least 2 of her husband's
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