Rosemarie Meyer - Page 4

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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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