- 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...)Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011