The URL can be used to link to this page

Home My WebLink About02-09-07 D c:~ - () "-002-:> .~ \- ,~ FAMILY AGREEMENT This Agreement entered into this 2nd day of February 2007, by and between Margaret V. Welsh and Timothy J. Strine in their capacity as Co- executors under the will dated September 25, 2002, of Gerald H. Ford, Deceased, and Margaret Viola Welsh, Timothy James Strine, Richard Lee Adams, Patrick Linn Strine, Stephen Lee Strine and Mary, Hummel, the named beneficiaries and residuary legatees of the estate. For purposes of this agreement, when Margaret V. Welsh and Timothy J. Strine are referred to in their fiduciary capacity, the term "Executor" or "Co-executor" will be used and, when they are referred to in their individual capacities, they will be referred to by their respective first, middle and last names. ") ,_ j--l ~~-:-l ___.~J BACKGROUND I \.D 1. Gerald H. Ford ("Decedent") died on June 2, 2005, a residenlof 7~:? Country View Estates, Newville, Upper Frankford Township, PA, leaying a~ , ....... will dated September 25, 2005. The decedent was a widower, his wifeSylvi~~ A. Ford predeceasing him on June 6, 2004. 0 2. Decedent's will was admitted to probate by the Register of Wills of Cumberland County on July 6, 2005, and letters testamentary were issued to Margaret V. Welsh and Timothy J. Strine as Co-Executors. (Proof of Publication of Executor's Notice of Granting of Letters Testamentary are attached as Exhibit "A") 3. In his will, Decedent named his daughter, Margaret Viola Welsh, his grandson, Timothy James Strine, beneficiaries of one quarter of his estate each; his nephew, Richard Lee Adams, his grandsons, Patrick Linn Strine and Stephen Lee Strine, and his niece, Mary Hummel beneficiaries of one eighth of his estate each; thus, as a result, each beneficiary became a residuary legatee. 4. The Co-executors advertised the grant of letters Testamentary, prepared and filed an Inventory and Appraisement of Decedent's property and prepared and filed a Pennsylvania Inheritance Tax Return and federal and state income tax returns and paid the appropriate taxes thereon. (Copy of PA Inheritance Tax Statement of Account attached as Exhibit "B") ~ 5. The Co-executors have paid all the general legatees and all the taxes, debts and expenses of the estate known to them, and they have no knowledge of any unpaid claims, absolute or contingent, which may be asserted against the estate nor do they have any reason to believe there are any such claims. 6. The Co-executors have distributed the net assets of the estate in accordance with the dictates of the will and the respective interest of the beneficiaries to Margaret Viola Welsh, Timothy James Strine, Richard Lee Adams, Patrick Linn Strine, Stephen Lee Strine and Mary Hummel, the residuary legatees named in the will. 7. A statement reflecting all estate receipts, disbursements and distributions are annexed here to as Exhibit C. 8. The Co-executors, Margaret Viola Welsh, Timothy James Strine, Richard Lee Adams, Patrick Linn Strine, Stephen Lee Strine and Mary Hummel all desire that this Family Agreement make unnecessary the filing an accounting in the Orphans' Court Division of the Court of Common Pleas of Cumberland County. NOW THEREFORE, intending to be legally bound, the parties do hereby: 1. Waive the filing of an account of the administration of the estate in any court; 2. Declare that the undersigned have examined the attached informal account (and statement/schedule of distribution) of the Co-executors; find it to be true and correct in all particulars; accept and approve it with the same force and effect as if it had been prepared and filed with, audited, adjudicated and confirmed absolutely by the Court of Common Pleas of Cumberland County, Pennsylvania, Orphan's Court Division or any other 2 court of competent jurisdiction; and as if the balance of principal and income had been awarded by the Court in accordance with the statement/schedule of distribution; 3. Warrant that the beneficiaries named in the informal account and statement/schedule of distribution are the sole remaining parties in interest in the estate and entitled to receive the entire distribution thereof in accordance with the informal account and Statement/Schedule of Distribution; 4. Warrant that the undersigned know of no outstanding and unsatisfied claims against the estate; 5. Approve the distribution of the balance of principal and income shown in the informal account and statement/schedule of distribution to the persons set forth therein; 6. Absolutely and irrevocably release and discharge the Co-executors, and their heirs, personal representatives, successors and assigns of and from any and all actions, liabilities, claims and demands relating in any way to their administration of the estate and distribution in accordance with the informal account and statement/schedule of distribution and without a court accounting and adjudication; 7. Agree to refund to the Co-executors any amount of the undersigned's distribution which exceeds the amount to which the 3 undersigned are entitled as the Co-executors shall determine; 8. Agree to indemnify and hold harmless, the Co-executors, and their heirs, personal representatives, successors and assigns, from and against any claims, liabilities, loss or expense (including costs and counsel fees) arising from any cause whatsoever, which the Co-executors may incur as a result of the administration of the estate and their distribution in accordance with this agreement including, but not limited to, any liability for any federal estate taxes, Pennsylvania Inheritance tax or any other death taxes, and any federal or Pennsylvania income taxes, and Pennsylvania personal property taxes, together with any interest and costs incidental thereto, relating in any way to the estate and also including, but not limited to, any assets received or payments or distributions made by reason of any negligence or mistake of law or fact. IN WITNESS WHEREOF we each set our hands the first date written above. Witness t I J/J t Viola Welsh (Beneficiary) Witness ;E71; i<~n-e~~:L~ Timothy Jan1e~ Strine (Beneficiary) Witness ~ I~()j~> Richard Lee Adams (Beneficiary) 4 Witness Witness Witness Witness Witness ~_ L~e Strine (Beneficiary) 6YCfhB~ 1f-/ I..A'a Ma m ~trtd r), LJd.d; Marg t V. Welsh (Executor) ~. (Executor) 5 E1(1l1131rr " ~., PROOF OF PUBLICATION State of Pennsylvania, County of Cumberland Janunv Shoemaker, Classified Advertising Manager, of The Sentinet of the County and State aforesaid, being duly sworn, deposes and says that THE SENTINEL, a newspaper of general circulation in the Borough of Carlisle, County and State aforesaid, was established December 13th, 1881, since which date THE SENTINEL has been regularly issued in said County, and that the printed notice or publication attached hereto is exactly the same as was printed and published in the regular editions and issues of THE SENTINEL on the following day(s) July 14, 21, 28, 2005 COPY OF NOTICE OF PUBLICATION Margaret V. Welsh Timothy J. Strine c/o The law Offices of Joseph D. Buckley 1237 Holly Pike Carlisle, PA 17013 (717) 249-2448 Affiant further deposes that hel she is not interested in the subject matter of the aforesaid notice or advertisement, and that all allegations in the foregoing statement as to time, place and character of ~,~~ EXECUTOR'S NOTICE letters Testamentary on the Estate of GERALD H. FORD, late of Upper Frankford Township, Cumberland County.. PA, deceased, have been granted to the underSigned. All persons knowing themselves to be indebted to said Estate will make payment immediately and those having claims will present them for settlement to: Orto: Joseph D. Buckley, Esquire 1237 Holly Pike Carlisle, PA 17013 Sworn to and subscribed before me this 03rd day of August, 2005. ~ C'1IJULL1A.A OJ :1/ UJoCb-.- Notary P~lic My commission expires: 9/t If) f COMMONWEAL TH OF PENNSYLVANIA Notarial Seal Chnstina L Wolfe, Notary Public Carlisle Boro, Cumberland County My CommissiOn Expires Sept 1, 2008 Member. Pennsylvanii> Associalion Of Notaries PROOF OF PUBLICATION OF NOTICE IN CUMBERLAND LAW JOURNAL (Under Act No. 587, approved May 16, 1929), P. L.1784 COMMONWEALTH OF PENNSYLVANIA ss. COUNTY OF CUMBERLAND Lisa Marie Coyne, Esquire, Editor of the Cumberland Law Journal, of the County and State aforesaid, being duly sworn, according to law, deposes and says that the Cumberland Law Journal, a legal periodical published in the Borough of Carlisle in the County and State aforesaid, was established January 2, 1952, and designated by the local courts as the official legal periodical for the publication of all legal notices, and has, since January 2, 1952, been regularly issued weekly in the said County, and that the printed notice or publication attached hereto is exactly the same as was printed in the regular editions and issues of the said Cumberland Law J oumal on the following dates, VIZ: July 15, 22, 29, 2005 Affiant further deposes that he is authorized to verify this statement by the Cumberland Law Journal, a legal periodical of general circulation, and that he is not interested in the subject matter of the aforesaid notice or advertisement, and that all allegations in the foregoing statements as to time, place and character of publication are true. Ford. Gerald B., dec'd. Late of Upper Frankford Town- ship. Executors; Margaret V. Welsh and Timothy J. Strine. c/o The Law Offices of Joseph D. Buckley, 1237 Holly Pike. Carlisle, PA 17013, (717) 249-244B. At~omey: Joseph D. Buckley, Es- qUIre, 1237 HoIly Pike, Carlisle PA 17013. ' ditor s T,G AND SUBSCRIBED before me this 29 day of July, 2005 NOT ARI SEAL LOIS E. SNYDER. Notary Public Carlisle Boro. Cumberland County My Commission ExPires March 5. 2009 ~)t11113l'I "13" BUREAU OF INDIVIDUAL TAXES INHERITANCE TAX DIVISION PO BOX Z80601 HARRISBURG PA 17128-0601 COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE INHERITANCE TAX STATEMENT OF ACCOUNT '* REV-1607 EX AFP (03-05) JOSEPH D BUCKLEY ESQ J D BUCKLEY LAW OFCS 1237 HOLLY PIKE CARLISLE PA 17013 DATE ESTATE OF DATE OF DEATH FILE NUMBER COUNTY ACN 10-16-2006 FORD 06-02-2005 21 05-0603 CUMBERLAND 101 GERALD H Allount Rellitted MAKE CHECK PAYABLE AND REMIT PAYMENT TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 NOTE: To insure proper credit to yo~r account, submit the upper portion of this form with your tax p~ent. CUT ALONG THIS LINE --+ RETAIN lOWER PORTION FOR YOUR RECORDS +-- --------------------------------------------------------------------------- REV-1607 EX AFP (03-05) *** INHERITANCE TAX STATEMENT OF ACCOUNT JEJEJE ESTATE OF FORD GERALD H FILE NO.21 05-0603 ACN 101 DATE 10-16-2006 THIS STATEMENT IS PROVIDED TO ADVISE OF THE CURRENT STATUS OF THE STATED ACN IN THE NAMED ESTATE. SHOWN BELOW IS A SUHHARY OF THE PRINCIPAL TAX DUE, APPLICATION OF ALL PAYMENTS, THE CURRENT BALANCE, AND, IF APPLICABLE, A PROJECTED INTEREST FIGURE. DATE OF LAST ASSESSMENT OR RECORD ADJUSTMENT: 09-12-2006 PRINCIPAL TAX DUE: 15,316.79 PAYMENTS (TAX CREDITS): PAYMENT RECEIPT DISCOUNT (+) AMOUNT PAID DATE NUMBER INTEREST/PEN PAID (-) 07-11-2005 CD005549 765.84 16,000.00 09-26-2006 REFUND .00 1,449.05- ---- -- __-0- TOTAL TAX CREDIT 15,316.79 BALANCE OF TAX DUE .00 INTEREST AND PEN. .00 II IF PAID AFTER THIS DATE, SEE REVERSE TOTAL DUE .00 SIDE FOR CALCULATION OF ADDITIONAL INTEREST. l IF TOTAL DUE IS LESS THAN $1, NO PAYMENT IS REQUIRED. INFORMAL ACCOUNTING EST ATE OF GERALD H. FORD RECEIPTS OF PRINCIPAL Cash: Fiduciary Acquisition Value Cash or Certificates of Deposit: Cornerstone Bank of Landisburg Sovereign Bank Sovereign Bank Sovereign Bank 61,936.26 5,931.80 19,043.45 129,810.58 33,365.21 250,087.30 Other: Pa. Benefit Trust Fund US Treasury Bonds Interest Cornerstone Interest Sovereign Interest Prudential Tri State Imaging (refund) 304.15 1,108.94 94.1 0 80.38 36.73 8.78 1,633.08 Total Inventory Receipts Subsequent to Inventory Ronan Funeral Home (refund) Walnut Bottom Radiology (refund) Interest Cornerstone Interest Sovereign Interest Prudential Prudential (insurance) Refund Pa. Inh. Tax Orrstown Bank (Interest) 893.80 54.36 91.07 83.06 36.73 500.00 1,449.05 25.43 Total Subsequent Receipts TOTAL RECEIPTS OF PRINCIPAL EXI-llBIT "C" $ 251,720.38 $ 3,133.50 $ 254,853.88 DISBURSEMENTS OF PRINCIPAL Debts of Decedent NONE Funeral Expenses 07-11-05 Ronan Funeral Home Administration Expenses 07-11-05 Register of Wills -inheritance tax Fees & Commissions 07-11-05 Joseph D. Buckley, Esquire (partial fee) 07-11-05 Margaret Viola Welsh (partial fee executrix) 07-11-05 Timothy James Strine (partial fee executor) 01-12-06 Joseph D. Buckley, Esquire (partial fee) 08-18-05 The Sentinel (Legal Executors Notice) 01-12-07 Joseph D. Buckley, Esquire (final fee and costs) 02-02-07 Margaret Viola Welsh (fee executrix) 02-02-07 Timothy James Strine (fee executor) 9,050.30 16,000.00 7,500.00 3,000.00 3,000.00 3,500.00 158.81 1,410.00 3,000.00 3,000.00 24,568.81 Total expenses and fees 49,619.11 Distributions to Beneficiary 07-11-05 07-11-05 07-11-05 07-11-05 07-11-05 07-11-05 02-01-07 02-01-07 02-01-07 02-01-07 02-01-07 02-01-07 Richard Lee Adams $25,000.00 Patrick Linn Strine $25,000.00 Stephen Lee Strine $25,000.00 Mary Hummel $25,000.00 Margaret Viola Welsh $50,000.00 Timothy James Strine $50,000.00 Richard Lee Adams $ 654.35 Patrick Linn Strine $ 654.35 Stephen Lee Strine $ 654.35 Mary Hummel $ 654.35 Margaret Viola Welsh $ 1,308.68 Timothy James Strine $ 1,308.69 Total Distributions $205,234.77 TOTAL DISBURSEMENTS PRINCIPAL BALANCE ON HAND 2 254,853.88 0.00