Ruthe G. Ohrman - Page 10

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          through his employer and through Transamerica with petitioner as            
          beneficiary.  Additionally, Mr. Ohrman was required to pay,                 
          defend, indemnify, and hold harmless petitioner for 19 specified            
          credit cards held in his name in addition to all other credit               
          cards, loans, debts, notes, encumbrances, credit lines, equity              
          lines, or other financial obligations in his name, with the                 
          exception of an Alaska Airlines Visa account.                               
               Finally, Mr. Ohrman agreed to:                                         
               pay, defend, indemnify and hold * * * [petitioner]                     
               harmless from any claim made by any taxing agency                      
               arising out of tax returns previously filed by the                     
               parties.  * * * [Mr. Ohrman] shall be liable, indemnify                
               and hold * * * [petitioner] harmless from the tax                      
               liabilities resulting for 1999, 2000 and 2001.  * * *                  
               [Mr. Ohrman] shall be responsible for communicating                    
               with the taxing agencies and do all that is necessary                  
               to protect * * * [petitioner] from the tax obligation.                 
               Excluding the right to spousal support, insurance coverages,           
          and the 1998 Lexus, petitioner received assets with an                      
          approximate fair market value of $782,000 under the separation              
          agreement.  The fair market value of the Birdshill residence as             
          of June 2001 was approximately $500,000.  The true and actual               
          stated consideration in the Bargain and Sale Deed transferring              
          Mr. Ohrman’s interest in the Birdshill residence to petitioner              
          was $0.  The 401(k) retirement account had a value of $36,581 on            
          March 31, 2001.  The Dean Witter account had a value of $246,234            
          on May 31, 2001.  Under the separation agreement, Mr. Ohrman                
          retained only his personal belongings, which consisted of                   

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