Cynthia K. Beatty - Page 11




                                       - 11 -                                         
                    buy.  Approximately 3 years later, the Beatty                     
                    purchased the property, with Mr. Beatty explaining                
                    to Mrs. Beatty that she just needed to sign the                   
                    papers to make their ownership “official.”                        
                         The Beattys never opened or maintained joint                 
                    bank accounts.  In fact, the only accounts in Mrs.                
                    Beatty’s name (prior to 2001) were those opened by                
                    and used solely by Mr. Beatty.  Due to Mr.                        
                    Beatty’s bankruptcy in 1981 and ongoing tax prob-                 
                    lems, all vehicles purchased by Mr. Beatty have                   
                    been titled in the name of Mrs. Beatty.  All vehi-                
                    cles have been purchased from a friend/associate                  
                    who owns a car dealership.  The vehicles are al-                  
                    ways financed.  Presently, the Mr. Beatty owns 2                  
                    vehicles:  a 1996 Chevrolet van, bought and fi-                   
                    nanced used in 1998 (balance owed is approximately                
                    $10,000, estimated resale value:  $8,000); and a                  
                    1999 Dodge Ram work van, financed in 1999 (balance                
                    owed is approximately $16,000, estimate resale                    
                    value $7,000).  Mr. and Mrs.  Beatty do not have                  
                    any investments, do not have life insurance poli-                 
                    cies, and do not maintain any saving or retirement                
                    accounts.  They do not own expensive artwork or                   
                    collectibles, or live an extravagant lifestyle.                   
                    a.  How did you pay for these assets?                             
                         Mr. Beatty financed the purchases of the                     
                         residence and the vehicles.                                  
               15.  What assets do you currently own?                                 
                         See Answer to Question 14.                                   
                    a.   Were any of the assets transferred to you                    
                         from your spouse?  No.  [Reproduced liter-                   
                         ally.]                                                       
               On September 19, 2002, a representative of respondent                  
          requested certain documents, including (1) documentation of                 
          petitioner’s income and living expenses at that time, (2) docu-             
          mentation of any bankruptcies that petitioner was involved with             






Page:  Previous  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  Next 

Last modified: November 10, 2007