- 8 -
In December of 1997, John filed for divorce from petitioner
so that he could marry another woman. On October 16, 1998,
petitioner and John’s divorce became final.
As of the time of the divorce, John had borrowed against all
of the equity in the Castle Rock home and had spent or consumed
all of the loan proceeds along with most other marital assets.
In the divorce, the $80,000 deferred annuity relating to
John’s accident was split into two $40,000 deferred annuities,
one of which petitioner received, and John received the other.1
Petitioner also received possession of a used car, which car
John, contrary to the divorce decree, never transferred into
petitioner’s name.
With regard to petitioner and John’s 1995 joint Federal
income taxes, the divorce decree stated: “[John] shall be solely
responsible for payment of all such taxes, including all interest
and penalties...and * * * [John] shall indemnify and hold * * *
[petitioner] harmless therefrom.”
In December of 1998, John remarried and moved to Tennessee.
Two weeks later, on January 4, 1999, John was found dead. John
died intestate.
On November 27, 2000, Overton, John’s first wife, petitioned
the Chancery Court of Bedford County, Tennessee, to allow her to
1 As of the trial herein, petitioner had received total
installment payments of $30,000 on the $40,000 annuity. The
remaining $10,000 is scheduled to be paid to petitioner in 2006.
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