Pamela L. Light - Page 8

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               Lastly, section G (“Tax Provisions”), paragraph 2 (“Payments           
          To Be Alimony”) reads:                                                      
               It is the intention of the parties that all payments                   
               made to Wife by Husband pursuant to the provisions of                  
               Paragraph B 2 hereof while the parties are living apart                
               are intended to be alimony payments, taxable as income                 
               to Wife and deductible from income by Husband for                      
               income tax purposes, and that no other payments made                   
               under this agreement are to be deemed or treated as                    
               alimony.  In the event of any action taken by Wife                     
               which affects Husband’s rights to deduct any portion or                
               all of the alimony payments from Husband’s income, Wife                
               will be liable to Husband for the full amount of the                   
               increase in Husband’s tax liability resulting from the                 
               loss of the deduction.  * * *  All alimony payments                    
               shall terminate as set forth in Paragraph C 2 or upon                  
               the prior death of Wife.                                               
               We are satisfied that payments made pursuant to both the               
          order and the agreement meet the requirements of section 71(b)(1)           
          and (2).  The order is a decree requiring payments for                      
          maintenance or support within the purview of section 71(b)(2)(C),           
          and it does not contain any provision that the payments not be              
          includable in the payee’s gross income.  Furthermore, the order             
          specifically provides that payments are to cease upon the death             
          of the payee spouse.                                                        
               The agreement, entered incident to the decree of divorce,              
          also specifies that the payments are to cease on the payee                  
          spouse’s death.  The agreement provides that the monthly payments           
          are to be included in the gross income of the payee spouse.                 
          Notably, the agreement specifically supersedes any prior                    
          agreements between the parties, constitutes the full                        

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