- 44 -
1993 that, if respondent was successful with the proposed
assessments of tax and additions to tax, Mrs. Pert would never
have to pay them because she would file for bankruptcy
protection. We conclude that the transfers left Mr. Riffe's
estate and Mrs. Pert insolvent.
j. Whether Mr. Riffe's Estate or Mrs. Pert
Transferred Property Shortly Before or After
Incurring Substantial Debt
Mrs. Pert incurred a substantial tax debt to respondent when
she signed the joint returns at issue here, the last of which was
due April 15, 1990. Elliott interviewed her on February 28,
1991. She began transferring assets on March 19, 1991, when she
wrote a $5,000 check to herself from Peoples State Bank account.
We conclude that she knew that she and Mr. Riffe’s estate owed
tax and that she transferred the property shortly thereafter.
k. Transfer to a Lienor
There is no evidence that Mrs. Pert transferred assets to a
lienor who transferred them to an insider. This badge does not
help respondent.
l. Conclusion
We conclude that respondent has shown that Mrs. Pert had
actual intent to hinder, delay, or defraud respondent.
5. Value of the Property Transferred to Mr. Pert
We conclude that Mrs. Pert transferred to Mr. Pert $100,000
in cash, a 1992 Ford Explorer and the 1987 GMC truck. The total
Page: Previous 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 NextLast modified: May 25, 2011