- 3 -
As a result of Universal Painters’s growth in profitability,
petitioner and intervenor experienced a better lifestyle. In
particular, they were able to purchase three houses in Naples,
Florida; purchase a condominium at The Courtyard at Kings Lake
(Kings Lake condominium), a property development located in
Collier County, Florida; invest in stocks and Founders Funds,
Inc. (Founders Funds), mutual funds; take regular vacations to
Colorado, the Florida Keys, and the Bahamas; maintain $5,000 to
$6,000 cash in a safe located in their home; pay a housekeeper
$50 per day; and lease a Lincoln Navigator. Petitioner and
intervenor jointly owned all three houses, the Kings Lake
condominium, and the Founders Funds investments.
Petitioner’s and intervenor’s houses were located in three
Naples subdivisions: Golden Gate Estates (Golden Gate
residence); Forest Lakes Homes; and The Crossings, Stonegate
(Stonegate residence). Petitioner and intervenor rented the
Golden Gate residence to petitioner’s brother during the years in
issue. Petitioner and intervenor purchased the Stonegate
residence on February 18, 1997, for $530,000. Petitioner and
intervenor used their own funds for this purchase and did not
incur a mortgage.
During the early years of their marriage, petitioner relied
on intervenor to prepare and to file their joint income tax
returns. Intervenor did not file their joint income tax returns
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011