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HomeMy WebLinkAbout97-07105 II ~ '~, (,: ~' \. '-> ~ " ", , I - . "I _,' ~. .. .. CJ , "', ".~,' ..... t" II . 'Q :t " " , " , " " I' .. , " #MAY 0 6 1996 JOCEL YN SHERMAN. Plaintiff : IN TilE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,PENNSYLVANIA v, NO, 97. 7105 CIVIL TERM BARRY SHERMAN, Defendant CIVIl. ACTION - LAW : IN D1VOltCE QUALIFIED DOMESTIC IU~LATlONS OIU>EI! AND NOW. this , Il. day of ' 1Il9----. 1998, upon the representations and stipulations of counsels for Plaintiff and Defcndant In the obove coplioned matter. it is ordered and decreed os follows: I. This Order creates and recognizes the existence of on Alternote Payee's (Plaintiff's) right to receive 0 portion of the Participant's (Defendant's) retirement bene lit under a "Qualified Domestic Relations Order" within the meonlng of Section 414 of the Internal Revenue Code (Code) of 1986. as amended. 2. The participant is the Defendont, Barry A, Sherman, whose social security number is 206-32.3903, and whose last knownoddress is 1805 Signal II ill Road, Cumberland County, Pennsylvania, 17055. Participant maintains Pion under the Employee Identilication Number 23. 1882761.' 3. The alternate payee is the Plaintiff~ Jocelyn Sherman, whose social sccurity numbcr Is 161.44-1958, and whose last known mailing address is 79 Little Run Road, Com I' Hill, Cumberland County, Pennsylvania, 170 II. 4. The plan to which this Order applies is the American Dental Association Members Retirement plan, identified as Plan Number 00 I. a portion of which is monaged by American Express Financial Advisors under employer account number 1596-6721-1.00 I; client number 1600-0753.0-00 I; and group number 0543-4886.7.002. 5, Participaot's vested interest in the Retirement Plan as of March 31.1998, wos $746,65504, The Alternate Payee is hereby aSJigned from this vested interest ofPorlicipont in the Retirement Plan a separate vested interest of Sevenllundred Thousand ($700,000,00) Dollars, to take effect promptly upon issuance of this Order, and shall include any dividends, interest or other investment experience credited or debited with respect to such assets after the date ofthis Order, . 6. Dlsburscmcnt ofvcstcd funds from J'lIrtlcipllntto Allcrnlltc I'nycc shllll bc cflcctcd by tronsferrlng retirement occount funds IrOlll sold Amcrlcan Dcnlol Assocllltlon Mcmbcrs Retirement Pion, first from occounts molnlolncd In sllld Amerlcon Express Flnoncilll Advisors Retircmcnt Pion, ond Ihcn trOlllothcr funds In sllld Pion. until the sumoI' Scvcn Hundrcd Thousond ($700,000.00) [)ollors Is rcachcd, inlhc following ordcr: II.) Flrsl, 1111 of Ncw Dlmcnslons Clllss A (uccountIIOOOO-OO I 0.6543-4886-0- 002). thcn, b.) Cllsh Mllnogemcnt Cluss A (occount 110000,001 1-3543.4886.1-(02). then, c.) Growth Cluss A (occountIlOOOO.OO 11.9543.4886.5-002). then, d.) GlobollJond Closs B (accoufH 110000.0012-2543-4886-0-002, thcn, e.) IJ/ue Chip Advunlage Closs A (occountIlOOOO.OO 13-1543-4886-9-002). thcn, 1',) Global Growth Closs A (occouatIl0000-0013-2543.4886-8.002),then. g.) Emerging Markets Class A (account 110000-00 13-5543-4886-5-002), thcn, h.) Smoll Company Indcx Class A (occount 110000,0013-9543.4886-1-002). then, i.) Flcxlble Annuity (occountIlOOOO-0931-0339.9940-6.004), then. j.) Any other remoining funds in soid plan until a figure of Seven Hundred Thousand ($700.000.00) Dollars has been reached, 7. Within 0 reosonable period of lime afier receipt of this Order. the Plan Administrator (Americon DenIal Association Members Retirement Pion)) shall dctermine whether this is a Qualified Domestic Relations Order and shall notify the Participant and Alternate Payee of such determinotion. Within a reasonable period of time afier Plan Administrotor has dctermlned that this Order is a Qualilied Domestie Relations Order, the Plan Admlnistrntor shall take such actions os are required to transfer from the Retirement Plan accounts of Participant to Alternate Payee. such assets in the amount and manner specified in this Order. together with all Interest. dividends or other investment experience credited or debited with respect 10 such assets afier the dale Oflhis Order. 8. The Retirement Plan shall hold and administer the Alternate Payec's account pursuant to the terms and provisions of the Code and ERISA, 9, The Plan accounts of the Participant and Allernate Payec shall be seporote accounts, and the Plan Administrator shall not permit any election by either the Participant or the Alternate Payee 10 have any effect on the other's Pion account. >- ro' ,,>-'1 ~i~ C f:",; I" .. 1.( 11.(' ..:T 'c' ( "':' ~I'-: ,- il P" . I: ; ~ ._1.. I;' 'r) ( ,-, 11 (". .Ill", I a.!tll , .. .\'i'l ~_l I - ll. t':1 ._.J (.) 0' 0 ,5. t,/. 9r dt-l .~ ,rf,;../l;,.-- zf '-/'# ..5 'IYK 't;Iq;-~ /t<'c:..ar ;t- c-:~. (~JfWd '~:i(..(.,/.4 't'1~~I<'WH~) . . , ' '. MARRIAGE SETTLEl\1ENT AGREEMENT '. " by and between >- '" . .- Ct; t:... 1 .. .. LJ " l,'--', " , , I: (~J: ,.1, "", , ,. . ,. , L~ r.- I , . " " ( , l~j ,....' I Barry A. Sherman and Jocelyn A. Sherman '. general, the settling of any and nil c1nims nnd possible cJnims by one agail1s1the other or agninsl their respective estnles. WHEREAS, Husband and Wife are legally competent WIIEREAS. Husband and Wife hove fully informed and advised each other of Iheir mulual properly, est ale and prospects, and fully disclosed 011 such properly 10 each other. WIIEREAS. Husband and Wife have been advised, by their legal counsel of their own choosing. of their respeclive rights. dUlies. responsibilities. linbilities and immunities againsl and to the other, NOW, THEREFORE, for and in considerulion of lhe mulual promises contained herein. and in consideration of the other good nnd valuable considerations hereinafter sel forlh, the parties hereby do mulunlly promise and ngree as follows: I. Wife shall have primary physical and shared legal custody of the minor children. DEVIN M. SHERMAN and LAURYNNE BETH SHERMAN. Husband and Wife agree Husbnnd shall have liberal partial custody with minor children, at the mutunl agreement of Husband nnd ench minor child. Wife shall allow and afford reasonnble opporlunily for said minor children 10 freely contnct and communicate with Husb3nd, 2. All of the wearing apparel and personal ornaments of Wife in her possession or which are situate at her residence at 1805 Signal Hill Drive, Mechanicsburg. Cumberland County. Pennsylvania, or elsewhere, shall become the sole property of and shall hereafler belong to Wife as her separate estate. independently of Husband, - 2 - " 3, All of the weuring apparel and personul ornaments of Husband in his possession c.' which arc situate at his residence lit 3402 Canby Strect, Harrisburg, Dauphin County, Pennsylvania, or elsewhcre, shall hereafter belong to Husband as his separate estate, indepcndently of Wife, 4, Husband and Wife acknowledge that Wife has commenced an action in divorce against Husband in Cumberland County, entered to docket No. 97-7105, Civil Term and filed with the Cumberland County Prothonotary on December 26, 1997. Both Husband and Wife agree to promptly proceed with said action, to sign the necessary consent affidavits and other required documents, and to instruct their allorneys to complete this action as promptly as it can be completed and obtain a final Decree in Divorce. Husband and Wife acknowledge that this Agreement shall be incorporated for enforcement purposes only with the Decree but shall not merge therewith and shall remain an independent contract. 5. Husband and Wife acknowledge that they are joint owners of certain real estate situate at 1805 Signal Hill Drive, Mechonicsburg, Cumberland County, Pennsylvania, Husband and Wife agree such property shall become the sole and exclusive property of Husband and shall hereafter belong to Husband as his separate estate, independently of Wife, 6. Wife shall vacate the residence at 1805 Signal Hill Drive, Mechunicsburg, on or before April 30, 1998. 7. Husband shall be responsible for all mortgages, liens or encumbrance payments on or arising from the ownership of the property located at 1805 Signal Hill Drive, Mechanicsburg, Husband further agrces to make all payments on the said mortgage in II timely manner and to indemnify and hold Wife harmless from any and all claims arising therefrom. - 3 - '. 8. Husband agrees to allow Wife to store any items of her personal property, cun'cntly at 1805 Signal Hill Drive, Mechanicsburg, Cumbcrland County, I'ennsylvllnia, ntthntloclltion for n period of six (6) months from the dote of execution of this Agreement. Husband and Wife ngree thut no sllch property will be removed or attempted to be removed from this location without advunee notice to, and prior written approval of Husband. Husbllnd ngrees not to withhold such npprovnl without good reason. Wife agrees to return nil keys, garage door openers and other rclated entry items to Husband no later than April 30, 1998. Husband does not represent that there is any insurance coverage on any items of Wife's personal property stored at 1805 Signal Hill Drive, Mechanicsburg, 9. Husband and Wife acknowledge that each of them has certain assets titled in their separate names, which assets may have previously been jointly-held, Husband and Wife agree that all funds held by each party separately or their own accounts as of the execution of this Agreement shall be their sole and separate property, including Wife's interest in a retirement account through her employer, and Husband's interest in retirement accounts or life insurance equity through American Express Financial and the American Dental Association, except as expressly provided for in paragraph 21 of this Agreement. 10. Husband and Wife acknowledge that Wife is in possession of a 1997 Honda Accord automobile, titled individually in Wife's name, and which is not encumbered by any lien. Said vehicle, and any automobile or truck acquired by Wife subsequcnt to December 26, 1997 shall be the sole and separate property of Wife. 11. Husband and Wife acknowledge that Husband is in possession of an S-10 Chevrolet Truck, titled individually to Husband, and which is not encumbered by any lien, Said vehicle and ,4- Laurynne graduates from high school and providcd Luurynnc continucs to residc in thc primary physical custody of Wifc, Paymcnts will bc duc on tbc lirst of cach month, (b) Husband furthcr agrces to pay in udvance oll tuition costs for his minor children, Devin M. Shennun and LlIurynnc Bcth Shennan, to complete their basic education through grade twelve at Bishop McDcvitt High School in Han'isburg, Pcnnsylvania. Tuition expense is Three Thousand Seven Hundrcd Dollars ($3,700,00) for each child for the 1998-1999 school ycar and Two Thousand Five Hundred Dollars ($2,500.00) for the rcmaining child for the 1999-2000 school year. Furthcr, provided Husband is consulted in advance, he agrccs to pay for all private music IC5sons, school band fecs, school athletic fees and/or sports activities, graduation fees and other normal and usual school activities until and through each child's graduation from high school, with each such cost or fee to be submitted in advance to and paid by Husband promptly as they arc due. (c) Wife shall be responsible for maintaining health insurance coverage for the minor children, Husband and Wife will be equally responsible for any and all unreimbursed medical expenses of the minor children. (d) The parties acknowledge that this Agreement is fair and reasonable and that it does not prejudice the welfare of their children. The parties further acknowledge that the support provided herein is adequate to meet the children's needs at this time as well as through their graduation from high school or age eighteen (18), whichever occurs later. (e) Husband relinquishes all claims for credit for the support payments he madc prior to execution of this Agreement. 16. Husband and Wife agree that Husband may claim all children as exemptions on his federal, state and local tax filings for the ycars 1998, 1999 and 2000, to the extent such claim is in - 7 - compliance with applicable law and the parties furthcr agrec that Wife will not claim said childrcn as exemptions for those tillle periods. Wife agrces to sign the nccessary IRS Rclcase of Claim to Exemption for Child of Divorccd or Scpal'Uted Parcnts (Fonll 8332 or succcssor), 17. In exchange for and in considcration of the promises and rcpresentations made hereunder, Husband and Wife hereby waive and release any and all right, title, interest, claims or demand of whatsoever nature which he or she now has or hereafter can, shall or may have against the other or the respective scparate property of the othcr under the laws of the Commonwcalth of Pennsylvania or any other governing state, country, territory or jurisdiction in the nature of spousal support, separate maintenance or support, alimony, eithcr pendente lite, temporary, rehabilitative, permanent or lump sum and right to seck equitable or community distribution or division or assignment of property or similar marital rights. 18. Husband and Wife acknowledge that they are joint owners of an interest in certain real estate at Suite 210, 4700 Union Deposit Road, Harrisburg, Dauphin County, Pennsylvania, being a commercial office condominium, Husband and Wife agree thaI such property shall become the solc and exclusive property of Husband and shall thereafter belong to Husband as his separate estate, independently of Wife. Husband and Wife furthcr agree that Husband will retain sole and exclusive possession and ownership of all equipment, furniture and furnishings currently at Suite 210, 4700 Union Deposit Road, Harrisburg. 19. Husband agrees that he shall be responsible for any and all mortgages, liens, encumbrances or costs of any kind on the real estate at Suite 210, 4700 Union Deposit Road, Harrisburg, and further agrees to use his bcst efforts to have Wi fe released by May I, 2003 or, in the alternative, to indemnify and hold Wife harmless against any and all claims arising therefrom. - 8 - 20. Wife hercby relinquishcs in favor of Husband all of hcr right. title and intcrcst in the dental practice known as Shcrman Dcntal Associates, wilh its primary place oi business lit Suite 210, 4700 Union Deposit Road, Harrisburg, Dauphin County, Pcnnsylvunia, The said practice shall be the sole and exclusive propcrty of Husband, independent of Wife, 21. Husband agrees to transfer to Wife, by means of a Qualified Domestic Relations Order (QDRO). the sum of Scvcn Hundred Thousand Dollars ($700,000,00) from his existing Keogh Plan, to be the sole and exclusive property of Wife, indepcndent of Husband. Sueh transfer shall be undertaken by Wife's counsel within ten (10) days following the Divorcc Decree, Wife agrees to have her allomey file the appropriate Qualified Domestic Relations Order (QDRO) for the transfer of funds from the American Express Financial Advisors account after approval of the fonn by Husband's counsel. Wife agrees that this transfer of funds is a total and final payment of retirement funds from Husband's retircment accounts. Wife also agrees that any future contributions as well as all existing funds remaining in Husband's rctirement accounts after the issuance of the Divorce Decree shall be the sole, separate and exclusive property of Husband and no attempt will be made by the Wife to obtain funds from those accounts or any other existing retirement accounts owned by the Husband. Husband hereby rcpresents that he has already authorized his retirement plan administrator to comply with the transfer directive QDRO in the amount of Seven Hundred Thousand Dollars ($700,000.00). 22. Husband and Wife may be jointly and individually indebted by reason of credit c,ud obligations arising from joint or co,owned cards, and may be individually indebted by reason of individually owncd credit cards. Husband and Wife agree that Husband shall pay only those past or current debts that he incurred on all jointly or individually owned credit cards as of the date of - 9- , . , ' cxecution of this Agrccmcnt. Each party furthcr rcprcscnts thut thcy no longcr havc ill their possession any jointly owned or mutually assigncd crcdit cards, Elich party further agrecs to indemnify the othcr and save and hold the othcr hunnlcss from and against any damagc liability, loss or deficiency arising out of or resulting from the partY:s failure to honor this portion of this Agreement. Husband and Wife acknowledge that thcy no longer have, hold, use 01' are aware of any account, credit curd, line of credit or other obligation jointly titled or in any way obliglltingthe other party to IlI1Y dcbt or obligation incurred by the other, from this day forward, other than such accounts or obligations as are specifically named in this Agreement. 23. Husband and Wife hereafter shall live separate and apart from each other at such place or places as he or she may from time to time choose or deem fit, tree from interference, authority and control, direct or indirect, by the other, Neither shall molest the other or compel or endeavor to compel the other to cohabit or dwell with him or her. 24. Husband relinquishes his inchoate intestate rights and statutory right of election in the estate of Wife and Wife relinquishes her inchoate intestate rights and statutory right of election in the estate of Husblll1d, and each of the parties hereto, by these presents, for himself, herself, his or her heirs, executors, administrators or assigns, or any of them, docs remise, release, quitclaim and forever discharge the other party hereto, his or her heirs, executors, administrators or assigns, or any of them, of any claims, demands, actions, causes of action or suits, at law or in equity, of whatever kind or nature, for or because of any matter or thing done, omilted or suffercd to be done by said other party, prior to and including the date hereof, cxcept that this release shall in no way affect any ca\lse of action in divorce which now exists or which may hereafter arise to the other party. - 10 - , , 25. Husband shall not at any time contract or incur any liability on behalf of Wife or obligate or charge her credit in any l11anner whatsoever, Wife shall not at any tilne contract or incur any liability on behalf of Husband or obligate or charge his credit in any manner whatsoever. 26. Husband and Wife acknowledge that the provisions herein made for thc transfer of property are adequate, reusonablc and satisfactory to thcm and, accordingly, they ace cpt the samc in lieu of and in full and tinal scttlcmcnt to them, and accordingly they accept thc same in lieu of and in full and tinal scttlemcnt and satisfaction of any and all claims and rights that thcy may now or hereafter have against the other of any kind, including support and maintenance, alimony pcndentc lite, counsel fees and expenses. Husband and Wifc agrce to execute, acknowlcdgc and deliver, upon request, any and all instruments, deeds and documcnts, including titles to vehicles or other property, necessary or advisable to carry out any and all transfcrs and purposcs sct forth in this Marital Settlement Agreement. 27. It is the intent of Husband and Wifc to become and remain legally bound by the mutual promises and covenants herein contained, and further, this Agreement shall be and remain binding on the heirs, executors, administrators, successors and assigns of the parties. 28. Inill. The parties agrec to sign and file joint fcderal, state and local income tax returns for the calendar year 1997. Except for taxes withheld from Wife's income, Husband shall pay all taxes and related expenses in connection with such joint returns and any refunds received thereon shall be and remain Husband's sole property, Husband shall have the sole right to use in future tax years any loss earried forward from 1997 or other years during which Husband and Wife tiled federal income tax returns jointly. . II . 29. Waiver of Furthrr Dlsch)sul'e. The respective p~rties do hereby warrant, represent and declare and do acknowledge and agree that each is and has been fully and completely informed of and is familiar with and cognizant of the wealth, real and/or personal property, estate and assets, earnings and income of the other and that each has made a full and complete disclosure to the other of his or her entire assets and liabilities and any further enumeration or statement thereof in this Agreement is specifically waived. 30. This Agreement has been prepared by the joint efforts of the respective allomeys for each of the parties, This Agreement should be interpreted fairly and simply, and not for or against either of the parties. 31. If any tenn, condition, clause or provision of this Agreement shall be determined or declared to be void or invalid in law or otherwise, then only that tenn, condition, clause or provision shall be stricken from this Agreement, and in all other respects this Agreement shall be valid and continue in full force, effect and operation. 32. This Agreement constitutes the entire understanding of the parties and supersedes any and all prior agreements and negotiations between them. There arc no other representations, terms, covenants, conditions, agreements or warranties, express or implied, oral or written, of any nature whatsoever, other than those expressly set forth herein. 33. No modification, rescission or amendment shall be effective unless in writing and signed by each of the parties hereto. 34, This Agreement shall be construed under the laws of the Commonwealth of Pennsylvania. - 12 - 35. The WHEREAS 'clauses ore specifically incorporaled inlo and made a part of lhis . . Agreement, , IN WITNESS WHEREOF, lhe parties herelo have hereunlo scltheir hands and seals lhe day Rnd year flrsl above wrillcn. Witness: L U.~,~) /l C- -- Y A. SHERMAN ~. - ~J . . .Ji. "'L~"l tf '~_t4J ~~ OCEL N A. SHERMAN ( . - 13 - " . . ,. JOCELYN SHERMAN, Plaintiff : THE COURT OF COMMON PLEAS OF : CUMBERLAND COUNTY, PENNSYLVANIA , : NO, 9''1- -'t/os Cit..J1 ( '--!i12.1> I , : CIVIL ACTION. LAW : IN DIVORCE v, BARRY SHERMAN, Defendant gOMPLAINT AND NOW, comes the above.named Plaintiff, JOCELYN SHERMAN, by her allomeys, NICHOLAS & FOREMAN, and seeks to obtain a Decree In Divorce from the above-named Defendant, BARRY SHERMAN, upon the grounds hereinafter set forth: 1. Plaintiff 15 JOCELYN SHERMAN, an adult Individual, ~ ~, presently ,esldlng at 1805 Signal Hili Drive, Mechanlcsburg, Cumberland County, Pennsylvania 17055, 2. Defendant Is BARRY SHERMAN. an adult Individual, ~~, presenllyresldlng at Suite 110, 4700 Union Deposit Road, Harrisburg, Dauphin County, Pennsylvania 17111, 3, Plaintiff and Defendant have been bona fide residents of the Commonwealth of Pennsylvania for at least six (6) months Immediately previous to the filing of this Complaint. 4. The Plaintiff and Defendant were married on May 28, 1977 In Harrisburg, Pennsylvania. COUNT I . DIVORCE 5. Pa'agraphs 1 through 4 of this Complaint are Incorporated herein by reference as though set forth In full, 6, Three child,en, Justin Sherman, date of birth, April 29, 1979; Devin Sherman, date of birth, Ma,ch 28, 1981; and Laurynne She,man, date of birth March 2, 1982; have been born of this marriage. 7. There have been no prio, actions of divorce or fo, annulment between the parties. -.. .~J"t -- i/: '..~ : @' U.I' , " C, l t, .. I ('.1 .,.1, e;t" , '. , ( I, t I L l~. ro" ~. u' ) I . . , " ~ ~.J:- ~~ ~ f'I) -:d ' (/) \' Q ~ ...... ~ ~ ~ B~ Q ~ ~ I.tj. (vi ~.J ~. I ?j b............. I'"'\S ~ .1 , -r ;t CJ f'J... " ~ ~s 11.Ir~ ()..., f-< . ." 1..1'" 2<" ~jL , [:p, r'. ~ U'J (.....', ,- I:" ,; :,:: "'.~ ~ ' .. U"> j;-.. " ';'" j ,jtl1 IJ1G.. :3 o .. ....,~ _. , , C~ 01 .