Daniel F. Monte - Page 5

                                        - 4 -                                         
               The parties acknowledge that the children have a                       
               brokerage account located at First Albany which is                     
               maintained by the parties, same having a balance of                    
               approximately $350,000.00.  It is the intention of the                 
               parties that this account be utilized for purposes of                  
               paying the children’s college education for 4                          
               consecutive years and that an inter vivos trust be                     
               established funded with the funds for the benefit of                   
               the children by 9/1/00.  * * *  The Husband shall make                 
               the day to day investment decisions regarding these                    
               funds, however, all major investment decisions shall be                
               agreed upon by the parties.  * * *  Both parties shall                 
               receive all monthly statements for this account * * *.                 
          Petitioner’s former spouse, however, established the Monte                  
          Educational Trust in April 2002.                                            
               During their marriage, the statements and Forms 1099, if               
          any, concerning the education accounts reflected petitioner’s and           
          his former spouse’s joint names and were addressed and mailed to            
          the Aurora home.3  After an acrimonious divorce, the statements             
          continued to reflect petitioner’s and his former spouse’s joint             
          names and to be addressed and mailed to the Aurora home.                    
               In 2000, petitioner contacted First Albany on several                  
          occasions informing the company of an address change and                    
          requesting that copies of the education account statements, as              
          well as his individual brokerage account statements, be mailed to           
          the Clarendon address.4  Pursuant to his request, petitioner                

               3  Although not specifically referenced in the record, it              
          appears that Form 1099-DIV, Dividends and Distributions, is the             
          relevant document.                                                          

               4  Pursuant to petitioner’s change of address request, First           
                                                             (continued...)           





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