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Sheldon's individual accounts. Sheldon's records for these bank
accounts were kept at his office; Nancy did not have access to
these records.
Table 7
Type of
Bank or Stock Account Account Holder
Peoples Trust1 savings Sheldon/Nancy as trustees for Lee
Peoples Trust1 savings Nancy as trustee for Joseph
Peoples Trust1 savings Sheldon/Lee--joint
Chemical Bank savings Sheldon/Nancy as trustees for Lee
Chemical Bank savings Sheldon/Nancy as trustees for Melanie
Chemical Bank savings Sheldon/Nancy as trustees for Joseph
AT&T stock custodial Nancy as custodian for Lee
AT&T stock custodial Nancy as custodian for Joseph
United Jersey2 checking Sheldon/Nancy--joint
Peoples Trust1,3 savings Sheldon/Nancy--joint
Chemical Bank checking Sheldon
Bankers Trust checking Sheldon
1 The parties' stipulations indicate that these accounts are in Peoples Trust.
However the stipulated exhibits indicate that at some point, perhaps before 1981, Peoples
Trust (or at least the branch in which these accounts were maintained) became United
Jersey.
2 This is the Joint Account.
3 On this record we cannot determine whether the deposits in this account came in
whole or in part from Sheldon. We cannot determine whether Nancy or Sheldon made the
withdrawals. By mid-1977 the account had a balance of $39,764.41. By Jan. 24, 1980,
after deposits of $300 and $320.26, interest had caused the balance in the account to
climb to $46,301.10. On Jan. 24, 1980, $15,000 was withdrawn from the account. On Feb.
1, 1982, $25,000 was withdrawn from the account, leaving a balance of $10,120.97.
When Sheldon died, Nancy received the proceeds from life
insurance policies as shown in table 8. Three of these policies
were originally owned by Dawn Joy as part of a key-man buyout
program. At the time Sheldon left Dawn Joy, Dawn Joy allowed
Sheldon to take over these policies.
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