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Home My WebLink About01-26-07 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NO. 21-06-553 AMENDED FIRST AND FINAL ACCOUNT FOR THE TRUST ESTABLISHED UNDER AGREEMENT DATED SEPTEMBER 6, 2002 OF CATHERINE A. MCKINNEY AMENDED PER ORDER OF COURT DATED DECEMBER 27,2006 STATED BY COMMUNITY TRUST COMPANY Tax ill Number: Date of Agreement: Date of First Receipt of Funds: Accounting for the Period: o r--; 0 . :TJ 25-6815781 t~',~o 09/06/02 :; ~~:;~~; 1 0/02/02 ,~,.~) ;~:;:~ ~_ _I (~~) 09/06/02 to 01/24Yffl -0 (Jl Purpose of Account: The Trustee Offers this Account to acquaint interested parties vW:h the transactions that have occurred during the Administration. It is important that the Account be carefully examined. Requests for additional information, questions or objections can be discussed with: Todd F. Truntz, Esquire Identification No. 83302 Keefer Wood Allen & Rahal, LLP 635 North 12th Street Lemoyne, P A 17043 or with James E. White, Esquire Vice President and Trust Officer Community Trust Company 3907 Market Street Camp Hill, P A 17011 '" c-...;:> ~ --.J c_ ::':..?h ::~ f',.J 0) , --;"1 SUMMARY OF AMENDED ACCOUNT For The Period From September 6. 2002 throuQh January 24. 2007 Principal Receipts Net Unrealized Gain Book Value Adjustments Metropolitan Life Annuity # 550008217 Metropolitan Life Annuity # 550008223 Less Disbursements General Disbursements Fees Balance before Distributions Distributions to Beneficiary Principal Balance on Hand For Information: Investments Made Changes in Investment Holdings Income Receipts General Disbursements Fees Balance before Distributions Distributions to Beneficiaries Income Balance on Hand For Information: Investments Made Changes in Investment Holdings Combined Balance on Hand Paqes 1 2 5 5 2 3 3 4 4 4&5 5&6 6 6&7 7 7&8 8 11,389.88 4.263.33 ( i ) 360,467.43 38,903.92 -31,445.62 -28,178.00 339,747.73 15.653.21 324,094.52 31.120.00 292,974.52 11,590.19 -945.47 -8.949.05 1,695.67 1,695.67 292.974.52 294,670.19 29467019 PRINCIPAL RECEIPTS Annuities Metropolitan Life Variable Annuity Annuity # 550008217 Death Benefit $40,244.97 50,000.00 Received 05/02/2003 Metropolitan Life Variable Annuity Annuity # 550008223 Death Benefit $87,293.30 100,000.00 Received 05/02/2003 SUBSEQUENT RECEIPTS Real Estate Improved Premises 162,155.50 603 Fairway Drive, Camp Hill, PA Received 10/02/2002 Cash 06/12/06 Refund 2005 Fiduciary Income Tax 30.00 Metropolitan Life Variable Annuity Annuity # 550008217 Death Benefit $27,479.05 12/10/03 Partial Annuity Surrender 558.65 07/21/04 Partial Annuity Surrender 13,594.26 09/06/06 Partial Annuity Surrender 13,223.62 Metropolitan Life Variable Annuity Annuity # 550008223 Death Benefit $87,956.75 06/26/03 Partial Annuity Surrender 5,649.13 07/21/04 Partial Annuity Surrender 10,012.87 07/22/05 Partial Annuity Surrender 5,243.40 TOTAL PRINCIPAL RECEIPTS 360.467.43 Page 1 PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS Gain Loss Unrealized Capital Gain 01/24/07 Market Value 294,670.19 01/24/07 Book Value -255,766.27 38,903.92 TOTALS 38.903 92 .Q..Q.Q NET UNREALIZED GAIN TRANSFERRED TO SUMMARY 38.90392 DISBURSEMENTS OF PRINCIPAL GENERAL DISBURSEMENTS PennsYlvania State Fiduciary Income Tax 04/15/05 06/09/05 09/12/05 12/29/05 06/15/06 12/27/06 1 st Qtr. Estimated 2nd Qtr. Estimated 3rd Qtr. Estimated 4th Qtr. Estimated 2nd Qtr. Estimated 4th Qtr. Estimated 8.00 8.00 8.00 8.00 22.00 22.00 76.00 Homeowner's Insurance 603 Fairway Dr. Camp Hill. PA 11/21/03 12/03/03 01/28/04 12/03/04 03/15/05 12/01/05 Travelers Indemnity and Affiliates Travelers Indemnity and Affiliates Travelers Indemnity and Affiliates Travelers Indemnity and Affiliates Increase in replacement value of dwelling Travelers Indemnity and Affiliates 49.83 49.83 448.34 599.00 15.00 662.00 1,824.00 Real Estate Tax 603 Fairway Dr. Camp Hill. PA 09/10/03 08/24/04 04/26/05 08/25/05 04/26/06 09/12/06 Alicia D. Stine, Treasurer (School) Alicia D. Stine, Treasurer (School) Alicia D. Stine, Treasurer (County) Alicia D. Stine, Treasurer (School) Debbie Lupoid Treasurer (County) Debbie Lupoid Treasurer (County) 1,900.65 2,017.09 531.43 2,103.62 565.54 2.146.55 9,264.88 Appraisal of 603 Fairway Dr. Camp Hill. PA 02/09/05 Central Penn Appraisals, Inc. 225.00 225.00 TOTAL GENERAL PRINCIPAL DISBURSEMENTS 11.38988 Page 2 FEES Fiduciarv Income Tax Preoaration Fee 05/10/05 For tax year ending 12/31/04 275.00 03/14/06 For tax year ending 12/31/05 275.00 550.00 Trustee Fees 07/01/03 For month of October 02 196.50 07/01/03 For month of November 02 196.50 07/01/03 For month of December 02 196.50 07/01/03 For month of January 03 196.50 07/01/03 For month of February 03 196.50 07/01/03 For month of March 03 196.50 07/01/03 For month of April 03 196.50 07/01/03 For month of May 03 359.00 07/14/03 For month of June 03 366.09 08/13/03 For month of July 03 367.46 09/15/03 For month of August 03 367.07 10/16/03 For month of September 03 364.61 11/12/03 For month of October 03 365.69 05/09/06 For month of April 06 351.05 06/08/06 For month of May 06 350.68 07/24/06 For month of June 06 350.82 01/05/07 Refund of Excess Fees Received from 07/01/03 through 7/24/06 -659.46 01/23/07 Refund to adjust April, May and June 2006 fees to reflect reduction in market value -525.18 3,433.33 FilinQ Fee for First and Final Account 09/01/06 Orphans' Court Clerk Cumberland Cnty, PA 280.00 280.00 TOTAL PRINCIPAL FEES 4 263 33 DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARY To: Patricia M. Kilkennv 07/22/04 09/12/06 Cash for Purchase of Automobile Cash to Pay Various Personal Expenses 20,000.00 11.120.00 31 120.00 Page 3 PRINCIPAL BALANCE ON HAND FIDUCIARY VALUE AT ACQUISITION 01/24/06 VALUE Annuities Metropolitan Life Variable Annuity Annuity # 550008217 Death Benefit $27,497.05 Received 05/0212003 27,479.05 50,000.00 Metropolitan Life Variable Annuity Annuity # 550008223 Death Benefit $87,293.30 Received 05/02/2003 87,956.75 100,000.00 Real Estate Improved Premises 603 Fairway Drive, Camp Hill, PA Received 10/02/2002 176,000.00 162,155.50 Cash Federated Government Obligations Fund 395 1.538.72 1.538.72 29297452 31369422 PRINCIPAL INVESTMENTS MADE Commerce Bank 06/30/03 Purchased 5649.13 Units@ 1.00 5,649.13 12/16/03 Purchased 558.65 Units @ 1.00 558.65 6,207.78 Federated Gov't Obliqations Fund # 395 1 0/28/03 Purchased 548.75 Units @1.00 548.75 01/29/04 Purchased 110.31 Units @1.00 110.31 659.06 6.86684 CHANGES IN PRINCIPAL HOLDINGS Commerce Bank Purchased 6207.07 Units 6,207.78 07/01/03 Sold 1734.50 Units @ 1.00 -1,734.50 07/15/03 Sold 366.09 Units @ 1.00 -366.09 08/13/03 Sold 367.46 Units @ 1.00 -367.46 Page 4 09/10/03 Sold 1900.65 Units @ 1.00 -1,900.65 09/15/03 Sold 367.07 Units @ 1.00 -367.07 10/16/03 Sold 364.61 Units @ 1.00 -364.61 10/28/03 Sold 548.75 Units @ 1.00 -548.75 01/28/04 Sold 448.34 Units @ 1.00 -448.34 01/29/04 Sold 110.31 Units @ 1.00 -110.31 -6,207.78 Federated Gov't Obliqations Fund #" 395 Purchased 659.06 Units 659.06 11/12/03 Sold 365.69 Units @ 1.00 -365.69 11/21/03 Sold 49.83 Units @ 1.00 -49.83 12/03/03 Sold 49.83 Units @ 1.00 -49.83 04/07/04 Sold 193.71 Units @ 1.00 -193.71 -659.06 -6 866.84 BOOK VALUE ADJUSTMENTS Metrooolitan Life Variable Annuities Metropolitan Life Variable Annuity Annuity # 550008217 Death Benefit $27,479.05 12/10/03 Total Partial Annuity Surrenders 4,000.00 07/21/04 Partial Annuity Surrenders 13,594.26 09/06/06 Total Partial Annuity Surrenders 13,223.62 01/18/07 Total Partial Annuity Surrender made on 07/21/04 627.74 31 44562 Metropolitan Life Variable Annuity Annuity # 550008223 Death Benefit $87,956.75 06/26/03 Total Partial Annuity Surrenders 6,400.00 07/21/04 Total Partial Annuity Surrenders 13,778.00 07/22/05 Total Partial Annuity Surrenders 8,000.00 2817800 RECEIPTS OF INCOME 05/31/05 Federal Income Tax Refund 28.00 28.00 Metropolitan Life Variable Annuity Annuity # 550008217 Death Benefit $27,497.05 12/10/03 Partial Annuity Surrender 3,441.35 07/21/04 Partial Annuity Surrender 627.74 4,069.09 Page 5 Metropolitan Life Variable Annuity Annuity # 550008223 Death Benefit $87,293.30 06/26/03 07/21/04 07/22/05 Partial Annuity Surrender Partial Annuity Surrender Partial Annuity Surrender Federated Gov't Income Fund # 395 Dividends from 10/31/03 thru 12/31/06 TOTAL INCOME RECEIPTS DISBURSEMENTS OF INCOME GENERAL DISBURSEMENTS Federal Fiduciarv Income Tax 04/15/04 1 st Qtr. Estimated Pennsylvania State Fiduciarv Income Tax 04/15/04 06/15/04 09/15/04 12/28/04 04/15/05 06/09/05 09/12/05 12/29/05 09/14/06 1 st Qtr. Estimated 2nd Qtr. Estimated 3rd Qtr. Estimated 4th Qtr. Estimated 1 st Qtr. Estimated 2nd Qtr. Estimated 3rd Qtr. Estimated 4th Qtr. Estimated 3rd Qtr. Estimated Federal Fiduciarv Income Tax 04/15/04 Balance Due PennsYlvania State Fiduciarv Income Tax 04/15/04 04/15/05 Balance Due Balance Due Real Estate Tax 603 Fairway Dr. Camp Hill. PA 04/26/04 Alicia D. Stine, Treasurer (County) TOTAL GENERAL INCOME DISBURSEMENTS FEES 04/29/04 Fiduciary Income Tax Preparation Fee Page 6 750.87 3,765.13 2.756.60 220.50 28.00 30.00 30.00 30.00 30.00 27.00 27.00 27.00 27.00 22.00 24.28 117.38 16.04 509.77 7,272.60 220.50 11.59019 28.00 250.00 24.28 133.42 509.77 ~ 250.00 Trustee Fees 12/18/03 For Month of November-03 365.24 01/21/04 For Month of December-03 366.11 02/12/04 For Month of January-04 366.66 03/10/04 For Month of February-04 366.27 04/14/04 For Month of March-04 365.87 05/13/04 For Month of April-04 366.26 06/14/04 For Month of May-04 365.86 0713/04 For Month of June-04 365.44 08/10/04 For Month of July-04 374.69 09/13/04 For Month of August-04 372.10 10/27/04 For Month of September-04 341.85 11/10/04 For Month of October-04 341.48 12/10/04 For Month of November-04 341.12 01/26/05 For Month of December-04 356.97 02/10/05 For Month of January-05 356.59 03/10/05 For Month of February-05 355.96 04/26/05 For Month of March-05 356.17 05/10/05 For Month of April-05 355.16 06/10/05 For Month of May-05 354.51 07/26/05 For Month of June-05 355.39 08/08/05 For Month of July-05 363.67 09/09/05 For Month of August-05 361.02 10/24/05 For Month of September-05 352.89 11/08/05 For Month of October-05 352.53 12/08/05 For Month of November-05 352.16 01/27/06 For Month of December-05 352.25 02/07/06 For Month of January-06 351.88 03/07/06 For Month of February-06 351.51 04/21/06 For Month of March-06 352.04 01/05/07 Refund of Excess Fees Received from 8,699.05 12/18/03 to 04/21/06 -1,504.54 01/23/07 Refund to adjust March 2006 fee reduction in market value -176.06 TOTAL TRUSTEE FEES 8.94905 INCOME BALANCE ON HAND FIDUCIARY VALUE AT ACQUISITION 01/24/06 VALUE 01/24/07 Federated Government Obligations Fund 395 1.69567 1 695 67 INCOME INVESTMENTS MADE COMMERCE BANK 06/30/03 Purchased 750.87 Units @ 1.00 750.87 Page 7 11/03/03 Purchased .04 Units @ 1.00 0.04 12/01/03 Purchased .16 Units@ 1.00 0.16 12/16/03 Purchased 3441.35 Units @ 1.00 3441.35 01/02/04 Purchased .11 Units @ 1.00 0.11 02/02/04 Purchased 1.94 Units @ 1.00 1.94 03/01/04 Purchased 1.76 Units @ 1.00 1.76 04/01/04 Purchased 1.66 Units @ 1.00 1.66 4,197.89 FEDERATED GOV'T OBLIGATIONS FUND# 395 12/31/03 Purchased 3441.35 Units @ 1.00 3.441.35 3.441.35 7 639 24 CHANGES IN INCOME INVESTMENT HOLDINGS Commerce Bank Purchased 4197.89 Units 4,197.89 12/18/03 Sold 365.24 Units @ 1.00 -365.24 12/31/03 Sold 3441.35 Units @ 1.00 -3,441.35 01/21/04 Sold 366.11 Units @ 1.00 -366.11 02/12/04 Sold 21.77 Units @ 1.00 -21.77 03/10/04 Sold 1.76 Units @ 1.00 -1.76 04/07/04 Sold 1.66 Units @ 1.00 -1.66 Q.QQ Federated Gov't Obliaations Fund 395 Purchased 3441.35 Units 3,441.35 02/12/04 Sold 344.89 Units @ 1.00 -344.89 03/10/04 Sold 364.51 Units @ 1.00 -364.51 04/07/04 Sold 2731.95 Units @ 1.00 -2.731.95 Q..QQ COMMUNITY TRUST COMPANY ~ ames E. White, Vice President & Trust Officer Trustee under Agreement dated September 6 ,2002 of Catherine A. McKinney, Settlor Page 8 Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division No. 21-06-553 AFFIDA VIT JAMES E. WHITE, Vice President and Trust Officer of Community Trust Company, Trustee under Agreement, dated September 6, 2002 of Catherine A McKinney, Settlor, hereby declares under oath that said Trustee has fully and faithfully discharged the duties of its office; that the foregoing Amended First and Final Account is true and correct and fully discloses all significant transactions occurring during the accounting period; that all known claims against the trust have been paid in full; that, to his knowledge, there are no claims now outstanding against the Trust; and that no taxes are presently due from the Trust. ~~ / James E. White Dated: January 25, 2007 Sworn to and sub~~bed before me thiso?5 day ~ of Jall(./a~ ,2007. COt..ONWEALTH OF PENNSYLVANIA NOTARIAL SEAL J<ELL Y R. HOWELL. Notary Public ....... Bolo., Cumberland County CommIIIIon' 2,2010 i~(~ INRE: PATRICIA M. KILKENNY FAMILY IRREVOCABLE TRUST : IN THE COURT OF COMMON PLEAS : CUMBERLAND COUNTY, PENNSYLVANIA : ORPHANS' COURT DIVISION : No.21-06-553 PROPOSED SCHEDULE OF DISTRIBUTION The Trustee / Accountant proposes the following schedule of distribution: I. RESERVED FOR THE ACCOUNT Market Value TO: COMMUNITY TRUST COMPANY 1. Trustee's Monthly Commission for the months of July 2006 through December 2006 (@125.00) 2. Trustee's Termination Fee (Calculated on Jan & Feb 2006 plus 10 months @ 125.00/month) 3. Fiduciary Income Tax Preparation Fee for Tax Year 2006 $ (750.00) $ (1,851.55) $ (275.00) TO: mE LAW FIRM OF KEEFER WOOD ALLEN & RAHAL, LLP 1. Legal Fees attributed to preparation of Accounting $ (1,388.50) Total Reserve $ (4.265.05) II. TO: PATRICIA M. KILKENNY Market Value Book Value 1. Metropolitan Life Variable Annuity # 550008217 as of January 17,2007 $ 27,479.05 18,544.38 2. Metropolitan Life Variable Annuity # 550008223 as of January 17,2007 $ 87,956.75 71,822.00 Reserve for Expenses $ (4,265.05) (4,265.05) Balance Income Cash $ 1,695.67 1,695.67 Balance Principal Cash $ 1,538.72 1,538.72 3. Improved Real Estate known and numbered as 603 Fairway Drive, Camp Hill, P A 17011 $176,000.00 $162.155.50 Net Distribution to Patricia M. Kilkenny $290.405.14 $251.491.22 INRE: PATRICIA M. KILKENNY' FAMILY IRREVOCABLE TRUST IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NO. 21-06-553 NOTICE OF AUDIT To the following beneficiaries of the Patricia M. Kilkenny Family Revocable Trust: Patricia M. Kilkenny and Catherine A. McKinney c/o Michael L. Bangs, Esquire Bangs Law Office 429 South 18th Street Camp Hill, PA 17011 NOTICE is hereby given that the Amended First and Final Account of Community Trust Company, as Trustee of the Patricia M. Kilkenny Family Irrevocable Trust, will be filed in the Office of the Clerk of Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania, on or before February 2,2007, and that the Clerk will present the same to the Court for confirmation, audit and distribution on March 6, 2007. Any person who objects to the transactions shown in the Account must file written objections with the Clerk on or before 9 a.m. on March 6,2007, or the Court may otherwise assume that no objections exist or that any objections have been waived. A copy of the Amended and First and Final Account of the Trustee, and Schedule of Proposed Distribution are enclosed herewith. KEEFER WOOD ALLEN & RAHAL, LLP Dated: January 26,2007 ~-==--'-- By ~~~<.". Todd F. Truntz, Esquire Attorney J.D. #83302 635 North 12th Street, Suite 400 Lemoyne, PAl 7043 (717) 612-5807 (717) 612-5805 (fax) Attorneys for Trustee INRE: PATRICIA M. KILKENNY FAMILY IRREVOCABLE TRUST IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURTDNISION NO. 21-06-553 CERTIFICATE OF NOTICE I, Todd F. Truntz, Esquire, counsel for Community Trust Company, Trustee, hereby certify that I have given notice as required by Pa. O.C. Rule 6.3 and C.C.O.C.R. 6.3-1, together with copies of the Amended First and Final Account of Community Trust Company, as Trustee of the Patricia M, Kilkenny Family Revocable Trust, and Schedule of Proposed Distribution, upon the parties interested in this proceeding by hand delivery of a true and correct copy of the same, addressed as follows: Patricia M. Kilkenny and Catherine A. McKinney c/o Michael L. Bangs, Esquire Bangs Law Office 429 South 18th Street Camp Hill, P A 17011 KEEFER WOOD ALLEN & RAHAL, LLP ~~ ~~ '-~~ Todd F. Truntz, Esquire --........... Attorney J.D. #83302 635 North 12th Street, Suite 400 Lemoyne, P A 17043 (717) 612-5807 (717) 612-5805 (fax) Dated: January 26, 2007 By Attorneys for Trustee