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on the farm acreage, but Richard also lost $40,000 of the IRA
distributions by investing the $40,000 in speculative commodity
market transactions.
Between when he retired on August 16, 1994, and September of
1998, Richard occasionally was employed in construction work.
In 1997, due to Richard’s failure to purchase Marilou’s
interest in the farm acreage and in the residence acreage,
Marilou sought to have the divorce court cite Richard for
contempt, to have Richard incarcerated, and to order the farm
acreage and the residence acreage listed for sale.
In a legal document dated and filed with the divorce court
on August 5, 1997, Richard’s attorney represented that the only
significant assets Richard owned were his interests in the farm
acreage and in the residence acreage.
In August of 1997, Richard contacted a realtor about selling
the farm acreage and the residence acreage. The realtor
recommended subdividing just 54 of the 215 acres in the farm
acreage into four residential lots and selling the four lots for
a total of approximately $265,000.
By early 1998, under threats from Marilou that she would
seek from the divorce court a contempt order and his
incarceration, Richard was pressured to list the farm acreage and
residence acreage for sale.
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