Catherine H. Poole, f.k.a. Catherine H. Dames - Page 4

          value of her and Dr. Ibach's net assets to be $1,114,300.3  Thus,           
          the value of petitioner's and Dr. Ibach's net assets at the date of         
          their divorce was approximately $1 million.                                 
               The divorce decree states in pertinent part:                           
                         7.  As settlement of all claims the Wife                     
                    may have for temporary and permanent alimony,                     
                    Husband shall pay to Wife the lump sum of                         
                    $500,000.00, with interest at 8% per annum on                     
                    the unpaid balance, payable as follows:                           
                         One hundred twenty (120) monthly                             
                    installments of $6,050.00, and one (1) monthly                    
                    installment of $3,016.53.    Said  monthly                        
                    installments shall commence on the 1st day of                     
                    June, 1983, and continue on the first day of                      
                    each month thereafter for the payment period of                   
                    ten (10) years and one (1) month until paid in                    
                    full.  The parties' intent is that this is lump                   
                    sum alimony, payable over a period of more than                   
                    ten (10) years as provided in section 71(c),                      
                    Internal Revenue Code.  Said sum is not subject                   
                    to modification, is payable regardless of                         
                    Wife's death or remarriage, and shall be                          
                    deductible by Husband and taxable to Wife.                        
                    Provided, however, any of said lump sum                           
                    remaining unpaid at Wife's death shall be paid                    
                    into a trust created by Wife for the benefit of                   
                    the parties' children, with Husband and a                         
                    commercial bank of Wife's choice as co-                           
                    trustees.  It shall not be a claim against                        
                    Husband's estate in the event of his untimely                     
                    death, so long as he maintains the life                           
                    insurance provided for in paragraph 8 hereof,                     
                    and, if not, shall be a claim against his                         
                    estate for the unpaid balance.                                    
                         8.  Husband shall, within sixty (60) days                    
                    from  May  25,  1983,  make  Wife  the  sole                      
                    beneficiary of $500,000.00 in life insurance in                   

               3    The discrepancy in amounts arises primarily from Dr.              
          Ibach's reporting total liabilities of $406,000 and petitioner's            
          reporting total liabilities of $281,000.                                    

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