HomeMy WebLinkAbout96-00708
""
Oc>
()
t:- w- "
..:;, 0(2 ~
c:s-
0-
-
I CI)"-
-
r1 ..
. 0
0 1n~
Z ~
PETITION Fon PIH)UATE and GRANT OF LETTERS
~/- 9(:;.. ?() 'ir
~Il,
I'n:
Regisler of Wilh for Ihe
C"unlY "I' _.~1ilr!<;L,_~~, in
COl1lllinnwt.:alth of Pennsylvania
the
/:''sl<lle of _~EH~q\XJth D. Ferucci
also knowlI as ,,-.~
~..----.,_....--_..--_..
l)e('eased.
_______.,.,...~."-.~...-~ - u.".__ ." '
Social Security No__~16ft::"21l-:4Q53,
.-._..--~---_..'-
The pelition "r the nndersigned respectfully represenls that:
YOllr pelitionerl~, who hXlQ{ IR years of age "I' oider an Ihe exeeILQy:--..,---..------ named
inlhe lasl will of thc ab(we clce,'delll, dalcd_..l\Il\)UlO.t...lL._-.,~_.--...._.--------' 19. 92._
and ,odidl(s) dated ...~_.. NI.~,__..__.._..._._'-~."'------.'---'_._--'_--_"_."-"'-
~..__.,~__~,__...__."._,..__,,~__..__.------------~.._-_._,..-_._.-._~..~._~_~_~u~..___..
_.._..~_____.____.__> .._~.,.._______ ,___ .__" ___..._....., - "n "____.,,__~____" .--_. _no' ,---- ...------+ -..------,-------
(~lalc rl'h~\-,l!ll .,:ir~'\IIH\IC\IK~'~, ~\,!\ rl'IHln":IJ\\IJI\, death ,)f t'\c.;utnr. eIC.)
~~-,._..._m~.'.'~- ._~__m__~"_..___".'_."~_".'._'~'__ .--- .. --._..~,,~---------------------,-----~----.------._---------..-
Deccmklll was dn<llkllcd al deall1 ill ___~rli)Iil--,-,--~-.--~_.. County, Pennsylvania, \\'i)11
h..eL--- lasl ralllilv or prilleipal residel)c" al .lo1elSs~1!Il \ltllJ'lgEl..1<<x.J'l..41~-.. ~.~lt 20l.:?
_~6t&1r.g".PAJJQ~!}-. _U~,-Lu.Le1LtillL1~4JfJJ--,.
(11,\ '-\I-..','!, 1It\\1\bt:T <Ill.! ,WlIkil\IIH\j
DCC'Clldelll, tlteI'.'"'' 13Jl_.. years of a~e, clied ...l\Ugust21._... -. ..,........-. --.,--~, 19..JJi__,
alnMeaeJ<lJ:LVU.lil..ge,~OOl<fQl5., _MeG\)aJlJ~tA1rg, ~Pl\. U!!5lL......,., ---.-'
h"cpl ", 1'"11"",, ,kcC'dvllt diclll"t 111'''1'\, "as lI"t di\ ,;reed alld did lI"t have a ehilcl born or adopted
afle<' <:\e,ut'''1I of t'l,' \\111 Ollned I",. pr"hat"', "as lint tl1\", ictlllt "I' a killillg alld was never adjudicaled
inL'olllPl'\cl1l:
.'___"T_~.'~'____'_.-"-_..._-
'Dc('(,.'ndtlil at dL'atll \1\\ llcd prnpL'rlY with:'.tillH\lcd v"IIl;> i.\~ fl',llo\\-\:
{I fdolnli.'HcL\ in Pa.l All PCI',,(ln~d p1'nj1i.'l'l ~
(If not c\nnlidkd ill 11a,) 11Cl'l\lllW\ pl'l)pCn) ill l)\:lln"yl\'~\lli(\
(Illlnt domidl(.'d Inl1n,) pC1'l\nnal properlY ill Ci,unt~
\'n\ll(' l,r l'cali,'slnl~ \11 Penns\h'<lni<l
,i t <lei I ,d a' 1'011.\\\,: .-- ,~_.N/A_--. -~~.--,--"'-" - .----... -..~"-""--.."-' ..----,~--._...-'-.--
$ ._40~20.0~~_-
, u
oS =~. 0 .=------~
$ __-'---_..Jl~----
___.._ .___..___.....__~__u.~_~~,.~--._---....--. "..~...---~...--.. n_~~"'._"_--___.___._~-'~~._-.-.. ~_.~_..;.......----~_--.---..............----"
..--- - -- -,----_. --..----. -~- ....---.----..-.--' ---. ----....--" - . .._~..-- .-~..._-_..-_.--_..~..~--_.-------...--.----.----,_.--.--
II Hl'.KEFORE, p,~titiollcr(sl resp"l fully reqttest(SI Ihe ploba\c of Ihe luSI will alld codicil(s)
presclll,d herewith alld the ~n\I)! 01' \clt,'r,_.__T...eQL~..nt.cgy-..-._.--...._~...,_.~._-----'-----
\T\!ll,illi,,,,,<lry; admlllhlralillll ~',t,;,_~ adl1\IIl\~trntion d;..b,n.~.\,(I.J
,
~'
;
3'!'
, -
~j
;;;;:
-- - ..----....---. -- ."-_...~_.._-----..,-,~-_..--------..----..-
/) ~'?l/")/
l/~/l 2/~ -< (/ ,...-
-ib;iEi:t~d~'r*-> / ----
,__'~__'_ .---_.,...-...,--...tf...-,-'-..-
_Vice.-~..mmtl!OO _'J.'!UBJ: Officer
HersheY TtufltCOOlJiIDY--~_..--
. ~~~~~5f71l;l}~Q.~5-~==--=
thi,'IOll,
. ._ ._'__ --+~r___n_;--""~"<--. " H___Tr_'_~-"'."-".-'-"'-.
_.,.-,-__~-_"r..-.._,'. ~,,~__.,..-.--"--""_~.~_.___..T___... .-~-. --
- .
;,...
~ '~
",
7:
----;- -..---..---..----'-
--- ,----- ._--,--------------------
OATH OF PERSONAL REPRESE~TATIVE
C()~IM()NWEAI,T11 m PENNSYLVANIA
COt:NT\ m C\JTbedand
,
. ..........
j- ,,,,
,
is-
\' I')
I~\
11w petlli"""'I" "j;,,,.'II,,,r..,,,:' ,\,.,uis( ,,' i1\lirn'I'lliL'lliIs' ,lalellle<lIS i<llh" r<Hcgoing petitloll arc
In", dlld ,'lo"c"llI1 Ilwh'\1 ,'i lill' I,(\"",kd\!e a<ld ki<cl "I P~llt\l\(\er(sI ane) IIHlla'-7~J?On . represen-
1;lll\el-1 "I' the' .<I,"",c1.""...k'" 1\'t';"""",I" \,ill ''''1110'<1..1 ;:I~Y,\.}""~~t.~~:.'~'/..~,llc:~:~.".\r...:fc.cc.'oo.._._".ll\.~ 10 law,
SII'."" ,,, ,'., ,.<II"""c1 ,,,,,I 'lil1",".,,'.'.1 \ ,...[/I'.'.? p-.&.,/.,- .-,..- ~
hei"'" ",.. ';"" ?,L,11\ d,I\ "I~ /-(.. '~
("" c," '",-, ., 1"'l~,, ) .!::.
lili"/[i,!Ui.,, ~", ('j) ,)':, I,t< ..) \..;-'-1".1.,. \ ~.
( Ii,'"'''!''' , 2':
(')() \d :0
Gffi (J
0'. ()
,_.
is ,
C:J
L<J
0
"
0) {',' .
~(i , c:\ "
):';. Ul
08/13/92
" '
!:1l..L1
9F
ELIZABETH D. FERUCCI
I, ELIZABETH D. FERUCCI, presently of Cumberland County,
Pennsylvania, declare this to be my will and hereby revoke all
prior wills and codicils made by me.
1. Proceeds from Sale of l:!ome. I direct that an amount
equal to the net proceeds from the sale of my home at 32 Elm
Avenue, Hershey, Pennsylvania, less all amounts from such net
proceeds which have been ex~ended therefrom for my comfortable
support and maintenance during my lifetime, which net amount
should then be held in a trust account for my benefit at Hershey
Trust Company, be distributed equally among the three children of
my deceased husband, Leonard B. Ferucci, and my son, John
Goodwill, Jr. If anyone of said four persons does not survive
me but is survived by issue of himself or herself, his or her
share shall be diAtributed per stirpes to his or her issue. If
there are no such issue, said property shall go to the other
beneficiaries in equal shares, or if anyone of the other
beneficiaries is not then living, shall be distributed per
stirpes among those of his or her issue who survive me. All
income earned upon the net proceeds from the sale of my home
which was not distributed to me during my lifetime, if any, shall
pass as part of the residue of my estate.
2. Tanqible Personal Property. I make the following
specific bequests: (a) my diamond ring to my niece, Miriam
Wagner, if she survives me, and (b) all of my personal jewelry,
except my diamond ring, equally to my nieces, Marjorie Beck and
Judy Niessner, or the survivor of them, if both or one of them
survives me. I bequeath all of my remaining tangible personal
property not used in business or for the production of income,
including without limitation furniture, furnishings, clothing,
jewelry, objects of art and decoration, and the like, and any
motor vehicles which I own, together with the insurance thereon,
to my son, John Goodwill, Jr., if he survives me, and if my son
does not survive me, I bequeath such property equally between my
brothers, Edward Davis and Howard Davis. If anyone of my
brothers does not survive me, his share shall be distributed per
stirpes among those of his issue who survive me. If there are no
such issue, said property shall go to my other brother, or if my
other brother is not then living, shall be distributed per
stirpes among those of his issue who survive me. with regard to
any property passing hereunder in shares, distribution shall be
made among the beneficiaries on the basis of choices made in
order determined by lot and by rotation, and the values as
finally determined for federal estate tax purposes (or for
inheritance tax purposes if no federal estate tax return is
required to be filed as a result of my death) shall be
determinative with regard to the values of the property chosen,
and any ultimate disparity among the beneficiaries shall be
equalled by such payments among them as may be necessary. If any
one of my brothers does not survive me, the choices to which he
would have been entitled shall be made by his issue in order
determined by lot and by rotation.
3. Residue. I bequeath, devise, and appoint all the rest
of my property, of whatever nature and wherever situated,
including property over which I hold a power of appointment,
except that I do not exercise any power of appointment given to
me by my husband, to the then Trustee(s) under a Revocable
M~nagement Trust Agreement executed by me as Settlor thereof on
III:;''''''). '31 , 1992/ t.o be held by said Trustee(s) and added
to ~nd admrnistered as part of the trust established by said
Agreement. Said trust is in existence as of the date of
execution of this will, and it is my intention, if necessary to
validate the foregoing gift to t.he Trustee(s), to incorporate
herein by reference its terms and any amendments thereto.
4. Survi va 1. If any benef iciary hereunder should die
within sixty (60) days after me/ he or she shall be deemed to
have predeceased me for all purposes of this will.
5. Spendthrift Clause. No interest (whet.her in income or
principal, whether or not a remainder interest, and whether
vested or contingent) of any beneficiary hereunder shall be
subject to anticipation, pledge, assignment, sale or transfer in
any manner, nor shall any beneficiary have power in any manner to
charge or encumber his or her said interest, nor shall the said
interest of any beneficiary be liable or SUbject in any manner
while in the possession of my fiduciaries for any liability of
such beneficiary, whether such liability arises from his or her
debts, contracts, torts, or other engagements of any type.
6. Faci1it~ of pavment for Minors or Ingompetents. Any
amounts or assets which are payable or distributable to a minor
or incompetent hereunder may, at the discretion of my
fiduciaries, be paid or distributed to the parent or guardian of
such minor or incompetent, to the person with whom such minor or
incompetent resides, or directly to such minor or incompetent, or
may be applied for the use or benefit of such minor or
incompetent.
7. Powers. In addition to such other powers and duties as
may be granted elsewhere herein or which may be granted by law,
my fiduciaries hereunder shall have the following powers and
- 2 -
duties, without the necessity of notice to or consent of any
court:
(a) To retain all or any part of my property, real or
personal, in the form in which it may be held at the time Of its
receipt, including any closely held business in which I have an
interest and the stock of any corporate fiduciary hereunder, as
long as in the exercise of their discretion it may be advisable
so to do, notwithstanding that said property may not be of a
charaoter authorized by law.
(b) To invest and reinvest any funds held hereunder in
any property, real or personal, including, but not by way of
limitation, bonds, preferred stocks, common stocks and other
securities of domestic or foreign corporations or investment
trusts, mortgages or mortgage participotions, mutual funds with
or without sales or redemption charges, and comThon trust funds,
even though such property would not be considered appropriate or
legal for a fiduciary apart from this provision.
(c) To sell, convey, exchange, partition, give options
to buy or lease upon, or otherwise dispose of any property, real
or personal, at the time held by them, at public or private sale
or otherwise, for cash or other consideration or on credit, and
upon such terms and for such price as they may determine, and to
convey such property free of all trusts.
(d) To borrow money from any person, including any
fiduciary hereunder, for any purpose in connection with the
administration hereof, to execute promissory notes or other
obligations for amounts so borrowed, to secure the payments of
such amounts by mortgages or pledges of any property, real or
personal, which may be held hereunder.
(e) To make loans, secured or unsecured, in such
amounts, upon such terms, at such rates of interest, and to such
persons, firms, or corporations as they may deem advisable.
(f) To renew or extend the time for payment of any
obligation, secured or unsecured, payable to or by them as
fiduciaries, for as long a period or periods of time and on such
terms, as they may determine, and to adjust, settle, and
arbitrate claims or demands in favor of or against them.
(g) In dividing or distributing any property, real or
personal, included herein, to divide or distribute in cash, in
kind, or partly in cash and partly in kind.
- 3 -
(h) Without limitation of powers elsewhere granted
therein, to hold, manage and develop any real estate which may be
held by them at any time, to mortgage any such property in such
amounts and on such terms as they may deem advisable, to lease
any such property for such term or terms and upon such conditions
and rentals as they may deem advisable, whether or not the term
of any such lease shall exceed the period permitted by law or the
probable period of retention under this instrument; to make
repairs, replacements and improvements, structural or otherwise,
in connection with any such property, to abandon any such
property which they may deem to be worthless or not of sufficient
value to warrant keeping or protecting, and to permit any such
property to be lost by tax sale or any other proceedings.
(i) To employ such brokers, banks, custodians,
investment counsel, attorneys, and other agents, and to delegate
to them such ~~ies, rights and powers as they may determine, and
for such periods as they think fit.
(j) To register any securities at any time in their
own names, in their names as fiduciary, or in the names of
nominees, with or without indicating the trust character of the
securities so registered.
(k) With respect to any securities forming a part of
the trust, to vote upon any proposition or election at any
meeting of the corporation issuing such securities, and to grant
proxies, discretionary or otherwise, to vote at any such meeting;
to join or become a party to any reorganization, readjustment,
merger, voting trust, consolidation or exchange, and to deposit
any such securities with any committee, depository, trustee or
otherwise, and to payout of the assets held hereunder, any fees,
expenses and assessments incurred in connection therewith, to
exercise conversion, subscription or other rights, and to receive
or hold any new securities issued as a result of any such
reorganization, readjustment, merger, voting trust,
consolidation, exchange or exercise of conversion, subscription
or other rights and generally to take all action with respect to
any Euch securities as could be taken by the absolute owner
thereof.
(1) To engage in sales, leases, loans, and other
transactions with any trust established by me or my husband, even
if they are fiduciaries or beneficiaries thereof.
(m) To exercise all elections which they may have with
respect to income, gift, estate, inheritance and other taxes,
including without limitation election to deduct expenses in
computing one tax or another and election to payor to defer
- 4 -
. ., ..'. '~..' ,., ~,' ...' 'n. .
payment of any tax, in all events without their being bound to
require contribution from any other person.
(n) To operate, own, or develop any business or
property held hereunder in any form, including without limitation
sole proprietorship, limited or general partnership, corporation,
association, tenancy in common, condominium, or any other,
whether or not they have restricted or no management rights, as
they in their discretion think best.
8. Taxes. I direct that all estate, inheritance, and
succession taxes that may be assessed in consequence of my death,
of whatever nature and by whatever jurisdiction imposed, shall be
paid out of the principal of my probate estate to the same effect
as if said taxes were expenses of administration, except that any
such additional taxes (and interest and penalties thereon)
imposed on account of my interest in or power over any trust
established by my husband shall be paid out of the property held
in such trust, and all other property includible in my taxable
estate for federal or state tax purposes, whether or not passing
under this will, shall be free and clear thereof; provided,
however, that my executor(s) may in the discretion of my
executor(s) request that any portion or all of said taxes (to be
paid out of the principal of my general estate) shall instead be
paid out of the principal of any trust established by me, to the
extent expressly authorized under the terms of said trust.
9. Gender. Unless the context indicates otherwise, any
use of either gender herein shall also include the other gender.
10. Fiduciaries. I appoint Hershey Trust Company as
Executor hereunder. My fiduciary hereunder shall serve as
guardian of the property of any minor beneficiaries hereunder,
under any instrument of trust executed by me, under any policies
of insurance on my life, and in any other situation in which the
power to make such appointment exists under the laws of
Pennsylvania. My fiduciary shall not be required to furnish bond
or other security for the proper per.formance of its duties
hereunder.
IN WITNESS WHEREOF, I, ELIZABETH D. FERUCCI, herewith set my
hand to this, my last Will, typewritten on seven (7) sheets of
- 5 -
STATEMENT OF FINAL PROPOSED DISTRIBUTION BY
HERSHEY TRUST COMPANY, TRUSTEE UNDER AN
AGREEMENT OF TRUST DATED JUNE 25,1969 BETWEEN
HERSHEY TRUST COMPANY, ELIZABETH 0, FERRUCI,
DECEASED AND LEONARD B. FERUCCI, DECEASED
HERSHEY TRUST COMPANY, as Trustee, states and proposes to distribute the
remaining Income and Principal, as of October 18, 1996, per the First and Final
Account as follows:
Baiance of Principal
Balance of Income
$267,272,22
$ 4,420,33
TOTAL
~
The Trustee proposes to distribute said cash, $271,692,55, as follows:
A. To: Leonard D, Ferucci
Pursuant to Articles 1 and 4
of the Agreement of Trust
dated June 25, 1969:
Principal Cash $ 66,818,06
Income Cash $ 1,105,08 $ 67,923.14
8, To: Eleanor Bramante
Pursuant to Articles 1 and 4
of the Agreement of Trust
dated June 25, 1969:
Principal Cash $ 66,818.06
Income Cash $ 1 ,105.06 $ 67,923,14
C. To: Lorna Vaught
Pursuant to Articles 1 and 4
of the Agreement of Trust
dated June 25,1969:
Principal Cash $ 66,818.05
Income Cash L 1,105,09 $ 67,923,14
INHERITANCE TAX RETURN FOR DATES OF OEATH AFTER 12/31/91
CHECK HERE IF A SPOUSAL
RESIDENT DECEDENT P.oVEF1.lY_C-'2~g!! IS CLAIMEDQ_____...__
C,IMMONWEAI If< 01 "INN"" V,\N'^ (1'0 BE FILED IN DUPLICATE FILE NUMBER
Ot:f1AfHMUHOF f1EvENI;( 21 96
HAf(RIS~C~~,"~~'~~:""O"OI Wlnt REGISTER OF WILLS) COUNTY CODE YEAR
]ECEDENT'S NAME (LAST, FIRST, AND MID~~E IN.ITI~Z;- -"'-~=[~liL;~f'I;~~~'-S COMPLETE ADDRESS
F'erucci, Elizabeth D c/o Messiah Village
SOCIAL SEcuRity NUMBER - DA.TE OF D'EATH 'DATE OF BlfHH P,O, Bax 2015, Mechanicsbm-g, PA 17055
DECEDENT 186-28-4053 08/21/96 02/29/1.208 Counly Cumberland
(IF APPLICABlE) SUAVIVIN"b 5,lJII~JF'~; NAME (L.AST, SOCIAL SECURITY NUMBER AMOUNT RECEIVED (SEE INIHRUCTIONSI
..'mST AND MIOCJLE 'NlfIAU'" . ....
17, Amount 01 Uno 14 taxable al 15% raW
(Include values Irom Schadule K or Schedule M)
18. PrIncipal lax duo (Add lax Irom Linoa 15, 16 and 17.)
19, Crodits SJ'lou$b1 Poverty Crltdlt Prior Paymonts Discount Interest
_ + ---..Jl, 100.00 + 450.00 - ___ (19)
20, II Line 19 is realer Ihan Line 19, enler Ihe difference on L1no 20 This Is 1110 OVERPAYMENT, (20)
A. Ch.ok h.... If V~.... requeotlnu_. refund o,~-; ov.rpayment. I
21, II Line 19 m grealer Ihan Line 19, entor IIle dllfuronco on L1no 21. Tills Is Iha TAX DUE, (21) 2,004.00,
A. Enter tho intorest on 11m balanco duo on Uno 21A. (21A) 0.00
B, Enlor the lolal 01 Line 21 and 21A on Line 21B, Tills Is Ihe BALANCE DUE, (21B)__ 2,004.00
Mak. Check P.!'yable to: Regl!,'" at Wille, Ago"t _
" ...... ... .. BE SURE TO ANSWER ALL QUESTIONS ON PAGE UNO TO RECHECK MATH .... ... -- -
Under penalties of perjury, ( doclaro that I havu exuminod this ruturn, Including accompanYing schodulos llnd statements, anc110 tho baSI of my knowlodgo
and baliel, It IS truB, corracl and complolo. I doclaro that aU roal oslate has boon reportod at trUD markot value. Doclarallon 01 preparer othor than 1ho pO/sonal
~'Cerasenlallvo Is basod on '"I1'IO~~"OI~~~~, has _any kn"~~ _____
SIQ~orp((A'0'2'H"'5f'_oNSlOLt;.F.{ rlt~NV1{1~,~ ADORlS5 DA"(I
,;( 6?fo;-) -', . . / See.Schedule attad1E.'<i \rc~ -. ~ "..",
, ;-- "LL-I-"'-C ,. '-'-".1
310NI\TURE OF PR' 'AR ROT1!~:f\ lHAN flH~"'lI(r...;'AIIVE AODflfSS OATf:
..___:::::~__._..____ P.O. Box 445, 100 M-11~i?f1 RcBd F.ilHl:.__.__. ___.,..__.__
Hershey, PA 17033- 0445
!lev 1500 EX. i'..Y.I\
CHECK
APPRO-
PRiATE
BLOCKS
CORRES-
PONDENT
RECAPIT-
ULATION
TAX
COMPUTA-
TION
PA15001
,
,
0708
NUMBER
2i 1, Original Return
o 4 Llmitod Estate 0 4a. FlJturo Interest Compromlno
(lor d"la9 01 doalll '11m 12-12-921
r8 a. Docedent Died Tostate ~ 7, Decedont Maintained a liVing Trust
(Mach copy 01 Will) (AIl,oh copy 01 Trll.l)
AU- CORRESPONDF.NCE AND CONFIDENTIA~ TAX INFORMATION SHOIJ~D BE DIRECTED TO:
NAME COMPLETE MAILING ADDRESS
He.rshey Trust C~-YLExecutor Attention: Robert K. Reitzel
TELEPHONE NUMBER P.O. Box 445, 100 Mansion Rood
717..520-1109 Hershe PA 17033
1 Real Estale (SCllOduIO AI ( I I None
2 Slacks and Bonds ISchedule BI (2) .None
3 Closely Held SlocklPannershlp Inleresl (Sch, C) (3 )____. None
4, Mortgages and NOlas ROCOlvablo (Schedule D) (4) None
5, Cash, Bonk Doposlls & MI,cellanoous Parsonal ( 5) 39,956.00
Property (Schodule E)
6, JOintly Ownod PropBlty (Sclledule F)
7, Tran,lers (Schedule G) (Schedule LI
8. Total Gross Assots (total Linos 1 ~ 7)
g, Funoral EKpensos, Administrative Costs,
Miscellaneous Expanses (Schedllle H)
10 Debls, Mortgage Liabilities, Lie,," (Sclladulal)
11, Tolal Deducllons (10101 Lines 9 & 10)
12, Nel Velue 01 ESlale (Line 9 mlnuti L1no 11)
13, Charllable and Govarnmonlal Be~uosl. (Schodule J)
Supplomon1al RehJrn
3. Romalnder Roturn
{tor {!aIUIlI dOa\ll pllor 10 \t-\J.~ll
o 5, Fodoral Estate Tax Ruturn ROQlJIred
o O. Tolal Numbor of Safo Doposit Boxos
East
(6 )
(7 )
None
148,842.00
(6 )
188,7.98,00
(9 )
12,036.00
(10)
2,692.00
14,728.00
174,070.00
None
(11)
(12)
(10)
14, Nol Value Sub eel 10 Tax (Line 12 minus Line 10)
15. Spo\J8A1 Tr<lIlSlorll (lor d<lIOIl or <Ieall1 Alter 6~]O-9t\). SlIe (15)
Irlstruclionalor AppliCAble Pll1cllntO\le on Pagll2. (Inoludll
VAllJulrom Scl1oaulo 1<,'1 ScneduIIlM,)
16. Amount 01 Lino 14lQxable at 6% rate (16)
(Include values ham Schedule K or Schedule M,)
174,070.00
(14)
x , ,
172,860,00 x ,06
10,372.00
(17)
1(210.00x ,15
,
182,00
(19)
10,554.00
8,550.00
COPYrlghl Forms 9ollwM' OrJII', \99'" Nall;o, Inr. N1l4f'Anu 1
NTf 61119
08/13/92
~(Q)~Y
~vJ Ii!"
QE
.!tUf!1JDE'!'ll.~Jh_ F'ERj)CCI
I, ELIZABETH D. F'ERUCCI, presontly of Cumberland County,
Pennsylvania, declare this to be my will and hereby revoke all
prior wills and codicils made by me.
1. Proceeds-I.t:QJ1Ll;ia lJLof ...!lQ.!]LQ. I direct that an amount
equal to the net proceeds from the sale of my home at 32 Elm
Avenue, Hershey, Pennsylvania, less all amounts from such net
proceeds which have been o>:pencjr>d therefrom fOt" my comfortable
support and maintQnance durlnq my 11fotlmo, which net amount
should then be Iwld in a t.rust acccunt for my benefit at Hershey
Trust Company, be distributed equally among the three children of
my deceased husband, Leonard B. Ferucci, and my son, John
Goodwill, Jr. If anyone of said four persons does not survive
me but is survived by issuo of himsc'lr or herseH, his or her
share shall be dist.ributed per stirpes to his or her issue. If
there are no such issue, said property shall go to the ot.her
beneficiaries in equal shares, or if anyone of the other
beneficiaries is not then living, shall be distributed per
stirpes among those of his or her iss1Je who survive me. All
income earned upon the net proceeds from the sale of my home
which was not distributed to me during my lifetime, if any, shall
pass as part of the residue of my estate.
:2. T.9..nqLbl~rsonal Prol).grtv. I make the following
specific bequests; (a) my diamond ring to my niece, Miriam
Wagner, if she survives me, and (b) all of my personal jewelry,
except my diamond rlng, equally to my nleces, Marjorie Beck and
Judy Niessner, or the surv i VOl: of thelll, .it ooth or 0118 of them
survives me. I bequeath all of my remaining tangible personal
property not used in businoss or for the production of income,
including without limitat.ion furniture, furniShings, clothing,
jewelry, objects of art and decoration, and the like, and any
motor vehicles which I own, together with the insurance thereon,
to my son, John Goodwill, Jr., if he survives me, and if my son
does not survive me, I bequeath such property equally betWeen my
brothers, Edward Davis and 1I0ward Davis. If anyone of my
brothers does not survive me, hls share shall be distributed per
stirpes among t.hose of his issue who survive me. If there are no
such issue, said property shall go to my ot.her brother, or if my
other brother is not then living, shall be distributed per
stirpes among those of his issue who survive me. With regard to
any property passing hereunder in shares, dist.ribution Shall be
made among the beneficiaries on the basi:; of cho,ices m.lele in
order determined by lot and by rotation, and the values as
finally determined for federal estate ta>: purposes (or for
inheritance tax purposes if no federal estate tax return is
required to be filed as a result of my death) shall be,
determinative with regard to the values of the property chosen,
and any ultimate disparity among the beneficiaries shall be
equalled by such payments among them as may be necessary. If any
one of my brothers does not survive me/ the choices to which he
would have been entitled shall be mado by his issue in order
determined by lot and by rotation.
3. ResJ..QQQ. I bequeath, dov ise / and appoint a 11 the rest
of my property, of whatever nature and wherever situated,
including property over which I hold a power of appointment,
except that I do not exercise any power of appointment given to
me by my husband, to the then TrUstee(s) under a Revocable
M~nagement Trust Agreement executod by mo as Sottlor thereof on
~r'h') ;3 i _, 1992/ to be hold by suid 'l'rustee(s) and added
to ~nd admlnlstered as part of the trust established by said
Agreement. Said trust is in existence as of the date of
execution of this will, and it is my intention, if necessary to
validate the foregoing gift to the Trustee(s), to incorporate
herein by referenco its terms and any amonclments thereto.
4. surviVsl.l. If any beneficiary hereunder shOUld die
within sixty (60) days after me/ he or she shall be deemed to
have predeceased me for all purposes of this will.
5. Spenq.l;.hri.f,L.Clause. No interest (whether in .income or
principal, whether or not a remainder interest, and whether
vested or contingent) of Dny beneficiary hereunder shall be
subject to anticipation, pledge, assignment, sale or transfer in
any manner, nor shall any beneficiary have power in any manner to
charge or encumber his or her said interest, nor shall the said
interest of any beneficiary be liable or subject in any manner
while in the possession of my fiduciaries for any liability of
such beneficiary, whether such liability arises from his or her
debts, contracts, torts, or other engagements of any type.
6. Facilitv of Payment for Minors or__rn.co...!JJQ.etents. Any
amounts or assets which are payable or distributable to a minor
or incompetent hereunder may/ at the discretion of my
fiduciaries, be paid or distributed to the parent or guardian of
such minor or incompetent, to the person with whom such minor or
incompetent resides, or directly to SUch minor br incompetent, or
may be applied for the use or benefit of such minor or
incompetent.
7. Powers. In addition to such other powers and duties as
may be granted elsewhere herein or which may be granted by law,
my fiduciaries hereunder ShDIl have the following powers and
- 2 -
duties, without the neoessity of notice to or consent of ~ny
oourt:
(a) To retain all or any part of my property, real or
personal, in the form in which it may be held at the time of its
reoeipt, inoluding any closely held business in whioh I have an
interest and the stock of ilny corporate fiduciilry hereunder, as
long as in the exercise o[ their discretion it may be advisable
so to do, notwithstanding that said property may not be of a
oharaoter authorized by law.
(b) '1'0 invest and reinvest ilny funds held hereunder in
any property, reill or personal, including, but not by way of
limitation, bonds, preferred stocks, common stocks and other
seourities of domestic or foreign corporations or investment
trusts, mortgages or mortgage participations, mutual funds with
or without sales or redemption charges, and common trust funds,
even though such property would not be considered appropriate or
legal for a fiduciary apart from this provision.
(c) 'I'o sell, convey, exchange, partition, give options
to buy or lease upon, or otherwise dispose of any property, real
or personal, at the time held by them, at public or private sale
or otherwise, for cash or other consideration or on credit, and
upon such terms and for such price as they may determine, and to
convey suoh property free of all trusts.
(d) 'I'o botToW money from ilny person, including any
fiduciary hereunder, for any purpose in connection with the
administration hereof, to execute promissory notes or other
obligations for amounts so borrowed, to secure the payments of
such amounts by mortgages or pledges of any property, real or
p~rsonal, which may be held hereunder.
(e) To milke loans, secured or unsecured, in such
amounts, upon such terms, at such rates of interest, and to suoh
persons, firms, or oorporations as they may deem advisable.
(f) To renew or extend the time for payment of any
obligation, secured or unsecured, payable to or by them as
fiduciaries, for as lonq a period or periods of t.ime and on such
terms, as they may determine, ilnd to adjust, settle, and
arbitrate claims or demilnds in favor of or ilgainst them.
(g) In dividing or distributing any property, real or
personal, included herein, to divide or distribute in cash, in
kind, or partly in cash and partly in kind.
- 3 -
(h) Without limitation of powers elsewhere granted
therein, to hold, manage and develop any real estate which may be
hel~ by them at any time, to mortgage any such property in such
amounts and on such terms as they may deem advisable, to lease
any such property for such term or terms ahd upon such conditions
and rentals as they may deem advisable, whether or not the term
of any such leose shall excep<! tho porIod penni t.b'd by law 01: tho
probable period of retention uncle,r this Instrument; to mal,e
repairs, replacements and Improvements, structural or otherwise,
in connection with any such property, to abandon any such
property which they may deem to be worthless or not of sufficient
value to warrant keeping or protecting, and to permit any such
property to be lost by tax sale or any other proceedings.
(i) 1'0 employ such brokers, bi1nks, cus\:odians,
investment counsel, at.torneys, and other agents, and to delegate
to them such duties, rights and powers as they may determine, and
for SUch per iods as t.hoy th ink ri t.
q) 'ro register any ,;ecurl ti os at. any time in thc,ir
own names/ 1n their names as fIduciary, or in the names of
nominees, with or without Indicating the trust character of the
securiti8s so registered.
(k) with respect to any securitIes forming a part of
the trust, to vote upon any proposition or election at any
meeting of the corporation issuing such securities, and to grant
proxies, discretionary or othorwlso, to vote at any such meeling;
to join or become a party to any reorganizatIon, readjustment,
merger/ voting trust, consolidation or exchange, and to deposit
any such securities with any committee, depository, trustee or
otherwise, and to payout or the assets held hereunder, any fees,
expenses and assessments incurred in connection therewith, to
exercise conversion, subscriptIon or other rigllts, and to receive
or hold any new securities issued as a result of any such
reorganization, readjustment, merger, voting trust,
consolidation, exchange or exercise of conversion, subscription
or other rights and generally to take all action with respect to
any such securities as could be taken by the absolute owner
thereof.
(1) 1'0 engage in sa les / leases, loans, and other
transactions with any trust established by me or my husband, even
if they are fiduciaries or beneficiaries thereof.
(m) To exercise all elections which they may have with
respect to income, gift, estate/ inheritance and other taxes,
including without limitation election to deduct expenses in
computing one tax or another and election to pay Dr to defer
- 4 -
payment of any tax, in all events without their being bound to
require contribution from any other person.
(n) To operate, own, or develop any business or
property held hereunder in any form, including without limitation
sole proprietorship, limited or general partnership, corporation,
association, tenancy in common, condominium, or any other,
whether or not they have restri~ted or no management rights, as
they in their discretion think best.
8. 'l'axes. I direct that all estate, inheritance, and
succession taxes that may be assessed in consequence of my death,
of whatever nature and by whatever jurisdiction imposed, shall be
paid out of the principal of my probate estate to the same effect
as if said toxes were expenses of adminIstration, except that any
such additional taxes (and interest and penalties thereon)
imposed on account of my interest in or power over any trust
established by my husband shall be paid out of the property held
in such trust, and all other property includible in my taxable
estate for federal or state tax purposes, whether or not passing
under this will, shall be free and clear thereof; provided,
however, that my executor(s) may in the discretion of my
executor(s) request that any portion or all of said taxes (to be
paid out of the principal of my general estate) shall instead be
paid out of the principal of any trust established by me, to the
extent expressly authorized under the terms of said trust.
9. Ge!Jd9r. Unless the context indicates otherwise, any
use of either gender herein shall also include the other gender.
10. Fiducia.rig);;. I appoint Hershey Trust Company as
Executor hereunder. My fiduciary hereunder shall serve as
guardian of the property of any minor beneficiaries hereunder,
under any instrument of trust executed by me, under Any policies
of insurance on my life, ilnd in any other situation in which the
power to make such appointment exists under the laws of
Pennsylvania. My fiduciary shall not be required to furnish bond
or other security for the proper performance of its duties
hereunder.
IN WITNESS WHEREOF, I, ELIZABETH D. FERUCCI, herewith set my
hand to this, my last Will, typewritten on seven (7) sheets of
- 5 -
08/13/92
t(Q)[P1f'
g I~VQQ{lIll,I':n MAN ACI':M EN'!' 'I'HU,;'LM;ll,!):.!,;l1~li']:
HIS A REEMEN'!', miHle, executed and delivered this 3/-'-L day
of " , 1992, by and between El,J ZAI3E'rH D. FERUCCJ, an
adult. d v dual residin<} j n Mechan i csburg, Ct'mber land county,
Penney! anIa, hereini1fter cal] ed tlw "Settlor",
AND
\
HERSHEY TRUST COMPANY, a banking and trust institution with
offices located in Hershey, Dauphin County, Pennsylvania,
hereinafter called the "'l'rustee".
YL~l...~t~.li._E... SSE r1' JLt
WHEREAS, the Settlor desires to oreate a revocable trust for
her sole and exclusive benefit and for the purposes herein set
forth, and the Trust.GO is wi lling to serve as the fiduciary
hereunder and thereof, il] 1 on the conca tions fwd terms
hereinafter set forth.
NOW THEREFORE, in consideration of these premises, and the
mutual covenants herein contained, the parties hereto, each
intending to be legally bound Iwreby, do now covenant and agree
aLl follows:
1. rransfer, The Settlor does hereby transfer, assign and
set-over to the Trustee, all of the Settlor's right, title and
interest in and to all of the property described in Exhibit "A"
attached hereto and hereby made an integral part hereof, the
Trustee to hold and administer the same in trust under and in
accordance with the terms and conditions set forth in this
Agreement. The Settlor, i1nd i1ny other persons, natural or legal,
may at any time or times, by deed, Will or otherwise, transfer
additional property to the Trustee for the uses and purposes
herein set forth, and the Trustee shall accept and receive such
additional property whenever tendered to it and shall hold and
administer such additional property in trust under and in
accordance with the torms and conditions set forth in this
Agreement. AI] property held in trust pursuant to the provIsions
of this Agreement collectively is hereinafter referred to as the
"Trust Estate". Tho Settlor and the Trustee, and any persons
transferring any property to the Trustee hereunder, shall
cooperate witll one another at all times In preparing, completing,
executing, dolivoring, fll inq and recording such deeds,
instrumontn ilnd oUlC'r document [J iH, llli1Y be nC)CeSsilry 01'
appropriate to implement, effect or perfoct the trans for to the
'rrustee of the constituent a~,sets and property of the 'l'rust
Estate.
2. 'rrus1.!lQ. 'J'he 'I'rustce hereby "ccepts the truElt creatod
by this Agreement under and subject to the terms and conditions
herein set forth, and agrecs to continue holding in trust and
administer the Trust Estnte in ncoordance with tho provisions
hereof. The interest of the 'I'rustee In the 'I'rust Estnte and ench
of the constItuent nssets and propcrties thereof, "nd it is so
acknowledged and il!]reed by both Pi\)"\:.[es hnreto, Is f101ely that 01
a fIducIary hold!n!] the 'I'ru!;t EFJtato .In trust for the oxcluslvp
benefit and enjoyment of the Settlor and for such other purposos
as are herein provided.
3. Q.ettc19J:-'_~.~!"l.f.",.timQ. For ilnd during the li fet Ime of the
Settlor, the Trustee shall mnnilge and administer the Trust Estate
In order t.o provi dc' for thf' Sot t lor's :1 onq-term Cilro, support,
maIntenance, heal th, and ('xtl',\onlinary neods, in accordance with
the following torms ilnd conditions:
(a) 'rhe Trustee shall invest t.he TI:ust Estate and
receive and collect all .Income, earnings, interest, rents, gaIns,
proceeds ilnd profits i1ris.in(J fn)m such inventmQnts of thQ '{'rust
Estate.
(b) 1'h", Trustee shall distribute to t.he Settlor, or
otherwise payor apply as t.he Sett.lor may direct, all net income
of and from the Trust Estate in such installments and with such
frequency as may be directed by thQ Settlor, but in no event less
frequent.ly than qUilrterly;
(c) The TrustQe shall distribute to t.he Settlor, or
otherwIse payor apply as the Settlor may direct, principal of
the Trust Est.ate as t.he Settlor [rom time t.o time may request;
, (d) If at any time the Settlor is adjudicat.ed
incompetent by a court. of proper jurisdiction, or is, in the
opinion of the 1'rustee, unable to mnnage her affairs propedy by
reason of illness or ment.al or physical disabilit.y, the Trustee
shall dIstribute, payor apply from time to time such amounts of
the net income, and if that be insufficient then from the
principal of the Trust Estat.e, as may be necessary or appropriate
to maintain for th", Settlor a standilrd of living approximately
equIvalent to thilt IlOW (~lljoyC'd by hQr, to meC't. tllC expenses and
costs of maInt.aining her 11('0] th E~uch as nwdical, dental, hosp.i tal
and nursIng expenses arising from illness, ilccident, disability
or invalIdism, to provide fOI" and mQot any cxtl"aordinary or
emergency expenses, and to provide for or meet any other purposes
the Trustee may deem to be In the best. int.erests of the Settlor;
in any such case, the Trustee may make or apply any payment under
this subparagraph direct.ly to the PQrson or persons, natural or
legal, to whom sllch payment is due and owing fOI" goods and/or
- 2 -
services provided to or for the benefit of the Settlor, or to
whom such payment otherwise is due bnd owing from the Settlor,
and evidence of such payment or application shall be a full and
complete discharge of the Trustee to the extent thereof.
4. SettJoJ,:~J?...Jlea.tll. Upon the death of the Settlor, the
Trustee shall distribute, absolutely and free of trust, all
principal of the Trust Estate, together with any undistributed
net income thereof, to such persons and in such manner as the
Last will of the Settlor in effect at the time of her death may
provide specifically by reference to this Agreement, and if no
such specific provision therein is made, then to the same person
or persons and in the same manner as the rcsiduary ostate of the
Settlor passes undel.lwl' LiH;j: Ivill in effect. at till' time of IW1'
death, and thel:eupon the t,ruf;t: created 11Oreundol.. shall tel'lnlnate.
In the event that the Last Will of the Settlor at her death (I)
shall provide that the residue of her probate estate be
distributed to or be made part of the within Trust, or (ii) shall
be invalid or c4hall fall for 'lny l.'ca80n [01\1C11 that the Settlor's
probate estate passes under applicable laws of intestate
succession, or (iii) in till' event: the Scttlo,' dics without
leaving a Last Will, then all principal and undistributed net
income of the Trust Estate shall be distributed, absolutely and
free of trust, to the Settlor's son, John Goodwill, Jr., if he
survives her, and if Settlor's son does not survive her, then
equally between Settlor's brothers, Edward Davis and Howard
Davis. If either of said brotlJeI:n of the Se\:\:Lol: sha1J lid,] to
survive the Settlo,., then ';,licl brotJ1C'r'n share hel'eundel. shall.
pass and be distributed, absoLutel.y and free of trust, to his
issue surviving tho Settlor, per stirpes, and if there be no
surviving issue of said brother of Settlor, then to Settlor's
other brother named above or his issue surviving the Settlor;
provided, however, that if any person to whom a distribution is
to be made under this paragraph has not then attained the age of
thirty (30) years, the share of the Trust Estate distributable to
him or her shall not be distributed free of trust but rather
shall be placed and held In a separ,lte trust adminJstel:ed by the
Trustee for the exclusive benefit of said person as its
beneficiary in accordance with the fallowing terms and
conditions:
(a) From time to time, the 'l'rustee shall distribute or
apply such amounts from the net Income, and if that be
insufficient then from the principal of such separate trust, as
the Trustee in its sole discretion may deem necessary or
appropriate to provide rensonable support and maintenance, to
meet the expenses of health maintenance such as medicnl, dental,
hospital and nursing expenses arising from illnoss, accident or
disability, and to the exten\:. that funds from the sepal.'a\:e trust
- 3 -
are still available, to provide an education (including without
limitation vocational, collego, post-graduate and professional
education) for said benofic1ary; amI, in detel"ndning whethel: and
to what extent such distrIbutlom1 nhall bo mndo, the 'I'rusteo
shall consider such other assets nnd sources of income or support
as may be available to said beneficIary; and, at the end of each
trust year, all not income from such separate trust that during
such trust year was not distributed to or applied for the benefit
of said beneficiary hereunder shall be added to the principal of
such separate trust.
(b) 1Jpon t.he beneficiary attaining the age of thirty
(30) years of age, the Trustee shall distribute all principal and
any undistributed net income of such separate trust to said
beneficiary absolutely and froo of trust, Should said
beneficiary dio befOl'e all pdncip,ll und undistl^ ibut.ed net income
of such separate t.rust has been dist.rib\lted to OL' applied for his
or her benefit herounder, all principal and undistributed net
income of such separate tnlst. shal] be distributed absolutely and
free of tnlst to tho tllC'n [;urvivinl] issuc' of such beneficiary,
and if there are no such iSfHw, per stiqJes to the then s\ll:vivinq
issue of Settlor's parents, per stirpes, with the share of any
such issue who is then a beneficiary of a sepurate trust created
under this parugraph being added to unel administered as a part of
such separate trust.
5. ,9J!.r.Y.tYaJ,.J;:Ji1\lSQ. ] f any bene ficiary hereunder shou lel
die within ninety (90) duys after Settlor, or within ninety (90)
days after ilny otlwr per SOil Ute f1l11:vival 01. whom detet'l11.1.neS his
or her rights hereundeL", then such bene fie i.ary sha 11 be deemed to
have predeceased Settlor or such other person for all purposes
hereunder.
6. 2.Rendtl:u::.i.tLJ?royJEC1.QDf!. No interest of any benef iciary
or distributee hereunder in either the principal or income of any
trust created hereunder (whether vested or contingent., and
whether or not a remainder interest) shall be liable or subject.
in any manner while in t.he possession oC the Trustee to
anticipation, pledge, assignment, sale, transfer, charge or
encumbrance, whether voluntary or involuntary, or for any
liabilities or obligations of such benefic1<n.y or d ist.dbutee
whether arising from his or her clouth, debts, contracts, torts at.
engagements of any type.
7. Truste5!~.~LP.Ql'.S!J:~. Subject to any restrictions or
directions elsewhere contained in this Agreemont, and except as
otherwise specifically provided by law, in the administration of
the Trust Estate and each trust created hen:.,under, the l'rustee
shall have the fOllowinq pOWC'I.I" which milY be exorcisod without
- 4 -
soeking or obtaining leave of COUI"t, in addition to all those
powers as the Trusteo may have by law:
(a) ^t any Umo, to retain any property, real or
personal, tangible or intangible, or mixed, or interests therein,
wheresoever situate, in the form in which it may be at the time
of' the Trustee's l"ecoipt thel:oof or t1wroafter, including without
limi tat ion any bus.iness ownod or controllod by the Settlor, so
long as in the exercise of the Trustee's discretion it may be
advisable so to do, notwithstanding that said property may not be
of a character authorized by law, and to conduct or participate
in any such business as a sole proprietorship, corporation,
partnershlp Dr joint V('nt.ul.o, oven though it was not so org'lnized
or conducted at Uw time of thc~ 'I'nlstc,o's l'ocoipt t!](>I"cof.
(b) To purchase, subscribo for, .invest and reinvest,
with any funds held in trust hereunder, in any property, real or
personal, tangible or intangible, or mixed, or interests therein,
wheresoever situate, as and in such proportions as the Trustee
may deem best, including, notwithstanding any contrary laws
regarding conflict of interest, securities issued by the TrusteD
hereunder 01" any affiliate thel:eof, and any common trust fund
maintained by the TrusteD (a part of the Trust Estate so
transferred to any Buch common trust fund being subject to all
the terms and provisions of such common trust fund, which
contemplates the commingling for investment purposes of assets of
the Trust Estate with trust assets of other trusts), even though
such property would not bo considered appropriate or legal for a
fiduciary in the absence of this provision, .it being the
Settlor's intention to give the Trustee the same power of
investment and reinvestment that the Settlor would possess if
present and acting.
(c) To sell, convey, exchange, partition, redeem,
convert, surrender, give options upon, or otherwise dispose of
any property, real or personal, tangible or intangible, or mixed,
or interests therein, wheresoever situate, at any time held by
the Trustee, at public or private sale or otherwise, for cash or
any other consideration, or on credit, in such manner, to such
persons, for such price, and upon such terms and conditions as
the Trustee may deem best, and no person dealing with the Trustee
shall be bound to see to the application of any funds paid to it.
(d) To lend and borrow mcney, to and from such persons
or entities (including the executor or other personal
represantative of the Settlor or any deceased trust income
beneficiary hereunder), ~] such amount or amounts, payable at
such time or times ilnd at sllch rntofo1 of int(>r(~st, ei tilor
unsecured or with such seCllr i ty, and llnder such othor tOl:ms ilS
- 5 -
the Trustee may deem advisable, and for any monies borrowed by
the Trustee, to exeouta and deliver promissory notes or other
evidenoe of obligation and as seourity mortgage, pledge or
encumber any property, real or peraonal, tangible or intangible,
held in trust hereunder.
(e) To renew or extend the time for payment of any
obligation, seoured or unsecured, payable to or by any trust
hereunder, for such period or pedods of time and upon such t.erms
as the Trustee may determine, and to adjust, settle, oompromise
and arbitrate claims or demands in favor of or against any trust
hereunder.
(f) '1'0 hold, miln,lqe, operate, improve, partition or
subdivide any real estate that. may be held by t.he Tr:ustE,'e at. any
time, wheresoover slt.uat.e, t.o mort.qaqo any such property In such
amounts and upon such terms iW the 'I'rustcoe may consider. proper,
to lease any such property for' such term or terms nnd under such
conditions and rentals as the Trustee may deem advisable,
irrespective of whetllC't: t.he term of nny such ]ei1se shnll exceed
the period pl2rm I t ted by 1 aw or t.he probable perl ad o[ retentl on
in trust, and to make repairs, replacements and Improvements,
structural or otherwise, in connection with any such property.
(g) To abandon any property held by the Trustee that
is of no value or that the Trustee may deem to be of insufficient
value to warrant keeping, maintaining or protecting, and to
permit any such property to be lost. Dt \:DX RRle or other
proceeding.
(h) To the extent that the Trustee deems it advisable,
to acquire and continue in [orOB insurance on the life of the
Settlor and pay the premiums therefor out of the income or
principal of the Trust EstRte, and upon the Set.tlor's death, to
acquire and continue in fOl'ce inH<lr'ance on the life of any Income
beneficiary of any sepDrate trust created [or his or her benefit
hereunder and pay the premiums therefor out of the income or
principal of such beneficiary's separate trust; to obtain any
cash surrender value of any such policies and add the same to
trust principal, or to convert any such policies to permanent
paid-up insurnnce; and to deal with SLlch policies il~ ,lny WilY that
the Trustee in its discI.etion may dett~nnine to be in the best
interests of the Settlor And ot.her trust beneficiaries hereunder,
including without limitation borrowing aqainst such insurance
policies in order to pny the promiums thereon.
(i) In dividing or distributing any property
hereunder, real or personal, tangible or intangible, or mixed, or
interests therein, to divide or distribute in cash, in kind, or
- 6 -
part.ly in cash ilnd portly in kind, ilndln 8harus different in
kind from other shares, as the Trustee may determine, and to that
end to allot specific securities or other property, or an
undivided interest therein, to any share, part, trust or
distributable portion; however, no statutorily provided interest
shall be allowed or paid on any distribution of property made by
or from the Trust Estate or any trust hereunder, and all net
income thereof shall be allocated and distributed as herein
provided with no requirement that such income be accrued for or
apportioned between any successive beneficiaries hereunder.
(j) To retain, employ and pay agents, employees,
accountants and counsel, includinq but not limited to investment
counselor advisors, brokers, banks, custodians and other ~gents,
for advice and other prOfessional services, and to delegate to
them such duties, rights and powers as the '['rustee may determine,
for such time period or periods as it may deem advisable.
(k) To register any securities held in trust hereunder
at any time in tho 'l'ruste(,' sown Ilanw / in its nilme as fiduciary,
or in the name of a nomirwo, with or: without indicating tho trust
character of the secur i ties so t"og istered.
(1) With respect to ony securities held in trust
hereunder: to vote upon any proposition or election at any
meeting of the corporation issuing such securities, t.o grant
discretionary or other proxies, to join and participate in any
merger, reorganization, readjustment, votinCj trust plan,
consolidat.ion, exchange or other concerted action of holders of
securities for the deposit. of securities under agreements and
payment of assessments, to deposit any such securities with any
committee, trustee or other depository, to subscribe for stocks
and bonds, to grant, obtain or exercise options, and generally
exercise all rights of holders of securities and t.ake all actions
with respect to any such securities ilS could be taken by the
absolute owner thereof, inclUding without 1 imit.ation the
delegation of discretionary duties with respect thereto.
(m) In dealing with t.he st.ock of any close or other
corporation, partnership interest, or other business held in or
forming part of any tnlst horeundor / to (1 iSI"c,gard any pr inciple
of investment diversification and retain any part or all of it
for so long as the Trustee may deem advisable; to do anything
that the Trustee may consider appropriate with regard to its
operation, expansion. reduction, liquidiltion or termination, or
any change in its purpose, nature or structure; to delegate
authority or duties to any director, stockholder, manager/
partner, employee or agent/ and to approve its payment of
reasonable compensation to any such person; to cause it to borrow
- 7 -
money at reasonable terms from the banking department of the
Trustee hereunder, notwithstanding any contrary laws regarding
conflict of interest; to make additional investments in it if
such action appears to be In the best interests of the
beneficiaries hereunder; and, to participate actively in the
management thereof and receive compensation for such services in
addition to ilny feos ai' compon!1itUon to whIch tho 'l'rustee is
otherwise entitled as a fiduciary.
(n) Unless exercised by the Settlor, or upon her death
by the Settlor's executor or other personal representative, and
to the extent permitted by law, to exercise any election, right
or privilege given hy federal tax laws, or the titX laws of
Pennsylvania or any othor Jurisdictions, and to determine and pity
from the Trust Est.ate, or' i\ny tnlst lwreunde>r, any tilxes properly
payable by or assessed against tho Trust. Estate or such trust, or
the income or assets thereof, unless liitbility for payment of
such taxes is assumed by t.he Settlor or one or more beneflcii\ries
hereunder in a manner satisfactory to t.he Trustee, and in any
such case t.o make 01' not: llli1ke r;lIch componsilt.inl) i1d:iustmonts i1S
between income and pI' i nc ipil J of ilny trust hereundel: ilS the
Trustee may deem appropriate.
(0) To exercise all rights, options, powers and
privileges granted to the Trustee as the named beneficiary by,
under or with respect to any life insurance or annuity policy, or
any pension, ret.lt^ell10nt, we] fill.C 01' other b8n8fit plan or
program, the procecdr' 01' benel its 01, 11'011I 01- undc'r which are
payable to the 'l'rllstee her-eunde'l. iln stich bene" i c i i11-y thereof, to
collect and receive payment of such proceeds or benefits with no
payor thereof to be responsible for the Trustee's application of
the payment so made, and to compromise or settle any guest ions
relating thereto as the Trustee may deem best; provided however,
that the Trustee shall not be required t.o inst.itute litigation to
recover any such proceeds or benefits unless t.he Trustee is
reasonably indemnified for costs, counsel fees and other expenses
of such litigation.
(p) To combine for purposes of administration and
investment any or all of the trusts created hereunder; provided
however, that neither this power nor its exercise shall alter
their status as separate trusts.
(g) In general, to exercise all powers in the
management of the assets and propei't ies he] din trust hereunder
that any individual could exercise in the management of similar
property held in his or her own right, upon such terlllS and
conditions as to the 'l'ruste(~ IHilY .seem best, and to eX8cute <lnd
deliver all instruments ilnd dOClIlIlC'nts ,1nd do ill I a cUe; thilt t1H'
- 8 -
Trustee may deem necBssary or proper to carry out such management
and its duties in the administration of any trust under this
Agreement.
8. Accountin.gE.. Within a reasonable period of time, but
in no event later than sixty (60) days after the expiration of
each trust year hereunder, the Trustee shall prepare and furnish
to the Settlor in the CilS(' of till' TI:ust Estate, and to each
income beneficiary of any separate trust created hereunder, a
copy of a detailed accounting, statement of receipts and
disbursements, and balance sheet reflecting all transactions of
the Trust Estate of such separate trust, as the case may be, for
such trust year.
9 . Tfili..~ .
(a) Upon the death of the Settlor, or any income
beneficiary of a separate trust created hereunder, the Trustee
may, if in its sole discretion the Trustee deems it necessary or
adv isable to Pi-otf'C\: t11f' '1"-'1'; t- 1':!,Ll Lf', or :\\I"h LlOPill-il tp tl"\lnt, il!\
the case may be, 01- \:0 faei I itat<' the settlement 01 the estClte of
such decedent, but sh,d I l1i1ve no duty or obligation to:
(i) purchase with funds of the Trust Estate, or
such separate trust, as the case may be, any securities or other
property, or portions thereof or interests therein, tendered by
such decedent's executor or other personal representative at any
time or times within tlw 1_)('I'iod of nine ('Jl months a 1'1:('1' the diltc
of the decedent's deoth, at the market value thereof ot the time
of purchase, with any difference of opinion as to such market
value to be fixed by the decedent's executor or other personal
representative, whose determination thereof sholl be conclusively
binding upon the Trustee and all persons claiming hereunder or
interested therein;
(ii) pay from the Trust Estate, or such separate
trust, as the case may be, any or all estate, inheritance,
legacy, transfer, sllccession or death taxBs, of whatsoever nature
or kind and by whatsoever jurisdiction imposed, including but not
limited to generation-skipping transfer taxes imposed under the
Internal Revenue Code of 1986, os nmended, payable or assessed in
consequence of the death of such decedent, and any or all
interest and penalties thereon.
(bl Upon the death of the Settlor, if any estate,
inheritance, legacy, transfer, succession or death taxes, of
whatsoever nature or kind and by whatsoever juriSdictions imposed
(excluding however any generation-skipping transfer taxes imposed
under the Internal RevenUB Code of 1986, as nme"dod), nre payable
- 9 -
or assessed in consequence of the Bettlor's death against, by
reason of or with respect to tho Trust Estate or any assets or
property thereof, thon unloss the sottlor's j,ast will in effect
as of the date of her death shall provide that such taxes shall
be paid by her executor from her estnte, the Trustee shall pay
all such taxes, including any interest and penalties thereon (but
excluding any of the aforesaid generation-skipping transfer
taxes, and any interest or penalties thereon) from the principal
of the Trust Estnte, or make provision or allowance for such
payment, without contribution, recovery or collection from any
beneficiary or distributee hereunder. If any such taxes are
payable or assessed partly by reason of the Trust Estate and
partly by reason of assets or property not included in the Trust
Estate, then unless tho Sl'tt]OI-'S L"lst Ivi!l in effect as of tho
date of her death shall provide otherwise, the Trustee shall pay
from the principal of the Trust Estate the difference between (a)
the sum of all such taxes, and any interest and penalties thereon
(but excluding any of the aforesaid generation-skipping transfer
taxes, and any interest or penalties thoreon) payable or assessed
in consequence of the Sl~\:t1ol:'S doa\:h, and (b) t.he sum of n]l
such taxes, interest. and ponaltieR (excluding any of t.he
aforesaid generation-skipping trnnsfor t.axes, and any interest or
penalties thereon) t.hat would havo bec'n payable ai' assessed in
the absence of the Trust Estnte or tho assets or property
thereof, it being hereby intended and direct.ed that unless the
Settlor otherwise pt'ovides in her Last will, the princJpal of the
Trust Estate shall pay tho incremont.al portion of such taxes,
interest and penalt.ies (excluding any of t.he aforesaid
generation-skipping t.ransfor taxes, and int.erest and penalties
thereon) attributable to the Trust Estat.e or the assets or
property thereof.
(c) Payment of all taxes authori.zed or required under
the preceding provisions of this paragraph shall be made by t.he
Trustee to the proper taxing authorities, or in the Trustee's
sole discretion to the executor or other persona] representat.ive
of the Settlor or other decedent for delivery to such taxing
authorities, after receiving from such executor or other personal
representative a written certificat.ion as to the ,-,mount of such
taxes, interest and penalties, upon which certification the
Trustee shall be ent.itled to rely conclusively.
10. Restriction. Notwithstanding any other provisions
hereof, in no case shall any annuity or other payments, or the
proceeds of any life insurance policy, receivable by the Trustee
in consequence of the denth of the Settlor or any trust income
beneficiary hereunder, which with respect to such decedent's
estate are not subject in whole or in part. to federnl estate
taxes under the Internal Revenue Code of 1986, as amended, or to
- 10 -
state inheritance, estate or other death taxes under the laws of
the Cmnmonwealth of Pennsylvania or any other applicable
jurisdiction, be receivable or received by, paid or loaned to/ or
used by or applied for tho benefit of the estate or executor of
such decedent, or any other person or purpose/ to the extent that
such nontaxable annuity or other payments or life insurance
proceeds thereby would be subject to federal estate taxes or said
state death taxes.
11. :rnj.@..tee'_fL COnu;?QDsation. 'I'he '1'rustee shall be entitled
to receive fair, equitable and reasonable compensation for its
services hereunder as nnd when such services al:e rendered, in
accordance with its then prevailing schedule of fees. In
addition, tho '1'nwtee shall be entitled t.o n~coive reimbursement.
for any expenses incurred by it in ncting as the fiduciary
hereunder. All trust fiduciary foes and expenses hereunder shall
be deducted from and chargGd to the income / and if that. be
insufficient then the principal, of each t.rust. hereunder on
account. of which such focs and expenscs werc Incurred or t.o which
they are otherwine ilttr-ibutabl0 01- illloCilbl,', i1[" nncl when the
'frustee shall detennine, but not less II-cquently than once ench
trust year.
12. ll.Q_!3SLDd. '1'he 'I'rustee sha II not be requ i red in any
jurisdiction to tlle, enter or post bond or any ot.her securit.y
for the fnithfuI performance of its dut.ies under this Agreement..
13. Revo.9atjpn. '1'110 Settlo!.- may revoke t.his Agreement or
the Trust Estate hereunder, in whole or in part, at any time or
times hereafter by written instrument executed by the Settlor and
delivered to the Trustee during t.he lifetime of t.he Set.tlor.
14. Amgndment. The Settlor may amend or modify this
Agreement or any provisions hereof, in whole or in ~art, at any
time or times hereafter by writt.en instrument executed by the
Settlor and delivered to the Trustee during the lifetime of t.he
Settlor, provided, however, that. no provisions hereof t.hnt are
for the benefit or prot.ection of the Trustee, or that. relat.e to
the duties of t.he Trust.ee hereunder, mny be amended or modified
except by written inst.rument. executed by bot.h the Set.t.lor and t.he
Trustee.
15. QonstructioD.. 1\11 questions pert.a ining to the
validity, interpretation, construction, adminlst.ration and
enforcement of t.his Agreement and each trust created hereunder
shall be det.erm.ined in accordance with the lalvs or the
Commonwealth of Pennsylvani~. Where used In this Agreement,
unless the context otherwise clearly requires: the plural shall
include the singular, nnd the singular shall include the plural;
- 11 -
and thereby become the sole owner of the real estate known as
No. 32 Elm I\venue, Hershey, Derry Townehip, Dauphin County, Penn-
sylvania, she will devise the same by her Will to Husband's issue
who shall survive both Husband and Wife, per stirpss.
2. Wife further agrees that should she alienate or
encumber .aid premises, she will leave by Will to Husband's issue
who shsll survive both Husband and Wife the principal of the net
proceed,S of such alienation or encumbrance except to t he extent
that she has nscessarily used said principal during her lifetime
for her comfortable support and maintenance if her income from
suoh proceedS and other sources ~hall be insufficient for .uch
support and maintenance, Upon such alienatiOn or encumbrance,
and in order to carry out the provisions of this paragrsph, Wife
shall promptly place such net proceeds in trust with Hershey Trust
Company as Trustee to pay to her or apply for her use during her
lifetime the in."ome and such prinoipal as aforesaid.
3. Husband agre.s that he will make the dispositions
of his property a. provided in his Will dated ,1.." f '1'3 , 1969.
4. For purpo.es of ParagraphS 1 and 2 only, "Husband's
issue" shall be determined as if Wife's son, JOHN GOODWILL, JR.,
has the same status as a child of his as his three children have.
S. No bond or security shall be required of either
party for the faithful performance of this agreement.
6. 1\11 pdor agre.ments between the partie. pertaining
to the same Bubjeot matter ore hereby revoked and canoelled.
-6-
(I) (~
\'1
;,J ':.~ ,--
f,:::;:;
'.
~
N
>.::
.,,1-
~
,-j)!:!: 1'- (\)5
u: p, ou
10-21-97
FERUCCI
08-21-96
21 96-0708
CUMBERLAND
101
[=_:=:_~~~~~~:T!_~~~n~ l
MAKE CHECK PAVABLE AND R!MIT PAVMENT TO:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
CUT ALONG THIS LINE .. RETAIN LOWER PORTION FOR YOUR RECORDS ~
II 'EV: is'ii - ilf -A j: ii - i Oi-.-97Y -NoT" Ie E - -OF - YNH Ell-IT A 'ff6 E - T"A x-lip PRli IS Et.f EN T -; -Ai:. row A ;.ft E - '(ill -- - - - - - - - - - - - - - - --
DISALI.OWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
ELIZABETH D FILE NO. 21 96-0708 ACN 101
If an assessment wes issued previously, lines 14, IS and/or 16, 17 and 18 will
reflect figures that include the total of abh returns assessed to date.
ASSESSMENT OF TAX:
15. Al'lount of Line 14 .t Spousal
16. A~ou"t of Lin~ 14 taxable ot
17. A~ount of Line 14 taxabl. .t
18. PrinciPII Tax Due
/:{-;J 1/ ~n
COMMONWEALTH OF PENNSVLVANIA
DEPARTMENT OF REVENUE
BUKfAU Of INDIVIDUAL TAXES
INIt[RIUNCI. TAl( lllVISION
nu'r. <'l\Oh01
tlARR1BIHJrlO, PA 111211-0601
NOTICE Of INHERITANCE TAX
APPRAISEMENT, ALLOWANCE OR DISALLOWANCE
Of DEDUCTIONS AND ASSESSM1NT Of TAX
ROBERT K REITZEL
HERSHEV TRUST CO
PO BOX 445
HERSHEV
DATE
ESTATE OF
DATE OF DEATH
FILE NUMBER
COUNTY
ACN
PA 17033
ESTAn OF FERUCCI
TAX RETURN WAS, I I ACCEPTED AS fILED
RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE
APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN
1. Rllal Est-t. (Schedule Al (1)
2. Stocks and Bondi ISchedull 8) (2)
3. Clonb H.ld stoc\(/p.rtn.trship Int.rest ('Soh.duh C) (3)
4. Hortg.ges/Not., Rae.iv_bIe (Schedule D) (41
Ii. Cash/Bank Oepos! ts/I11 BC. PlIrsonlll Property (Schedule E) (5 I
6. Jointly Owned Property (Schftdule F) (6)
7. Transfers (Schedule G) (7)
8. Totel Asset.
APPROVED DEDUCTIONS AND EXEMPTIONS:
9. Funarel Expense./Adm. Cost5/Hlsc. Expenses (Schedule H) (9)
10. Debts/Mortgage Liabilities/Liens (Schedule I) (10)
11. Tobl Oeductions
12. Net Value of Tax Ratul'n
13. Charitable/Government.l geque~ts (Schedule J)
14. Net Value of Estate S~Jbj.ct to Tax
NOTE I
rate
Lineal/Cl." A rat.
Coll.teral/Class 8 rat.
liS)
1I61
1I7l
TAX CREDITS I
PAYMENT
DATE
11-21-96
05-21-97
RECE I PT
NUMBER
AA1469i4
AA211325
DISCOUNT 1 +)
INTEREST IPEN PAID 1-)
4~0,00
.00
INTEREST IS CHARGED THROUGH 11-05-97
AT THE RATES APPLICABLE AS OUTLINED ON THE
REVERSE SIDE OF THIS FORM
, .
( X I CHANGED
SEE
it~
.l~.l\~1 B HP 111.911
ELIZABETH D
DATE
ATTACHED
10-21-97
.00
.00
,00
,00
39,956,00
,00
435.466,00
(8)
12.036,00
2,692.00
1I11
1I2)
(l31
1I41
,00
(,59,484,00
1,210,00
X,OO.
X ,06.
X ,15.
1I81
Non CE
NOTE I To Insuf'e proper
credit to your account I
submit the Upper portion
of this form with your
tax payment.
475.422,00
14,nR nn
460,694,00
.00
460,694.00
.00
27,569,04
182.00
27,751.04
TOTAL TAX CREDIT 11,004,00
BALANCE OF TAX DUE 16,747,04
"-~--------_._--- -..-----------
INTEREST AND PEN. 694 _ 94
----_._--_._--,--,- '.-..".
TOTAL DUE 17,441.98
. If PAID AfTER DATE INDICATED, SEE REVERSE
fOR CALCULATIDN Of ADDITIONAL INTEREST,
AHOUNT PAID
8.550,00
2.004,00
If TOTAL DUE IS LESS THAN .1, NO PAYMENT IS REqUIRED,
If rOTAL DUE IS REfLECTED AS A "CREDIT" (CRI, YOU HAY BE DUE
A REfUND, SEE REVERSE SIDE Of THIS fORH fOR INSTRUCTIONS, I
.
flESERVAT10NI EI\all;' of dlcad.nh dying on or blfor, OIO,.tllllr 12, 198Z .~ If any 'utllra Int,raU .In thl utatl II tren,f,rl'ld
III pou".lon or enjoYlont to ClI.. a (ool1e\llrll) bandle!.r!.. of the dlcadent aftlr thl Ixplretlon of _my I.t.t. for
Ilf. or for y..rl, thl Co~.onw81Ith herebY I)(pr...ly r.~.rY'1 the right to IPpral.. and I..... tran,far Inherltanoe TaK.'
It thl lawful Claflt B (oolhltl,'.1) rab on MY .uch futl.ll"41 Int_rut.
PURPOSE OF
NOTlCEl
PAVMENTI
Rl:FUND (CR) I
OBJECUONSl
ADHIN
ISTRATIYE
CORRECTIONS I
DISCOUNT I
PENALTY'
rHTUEST,
To fulfill thl requlr...nts of Sactlon Z140 of thl Inherltlnc. and E,tat. Tux Act, .lot 21 of 199~. (72 P.S.
betlcn 9140),
Oatooh thl top portion of this Hotloe and tubllt with your pava,nt to thl Algl,tar of Will. prlntld on thl rlvlr.. .idl.
uHakl oh.ok or lIonl)' order pl18abh tal RESISTER OF HILLS, AGEN'!
A r.fund of a tax or.dlt, whloh wa. not requ..ted on tho Ta~ Retvrn, Ilav be reque.ted by (ollpletlng an "Applloatlon
for Rlfund of Penn'Y1varl!a Inherltancl ,nnd E.tate Tax" (REV~lJ13l, Applloatlon. are l'I",alhbl. at th,Offlc.
of the Rlgl.ter of WIll., anv of thl 2J Revenv. Ol.trlot Of Floe., or by calling tne .plalal l4-hour
an.w.rlnll ..rvlol m.llb.r, for torllll orderlnlll In Penn,Ylvanlr, 1-800-362-20S0, aut.ld. P.nnsvl'Hmla and
wlthJn looal flarrhbul'lI area (7111 181-80941 TDUI (11) 712-22S2 (H.erlng IIlIPalr.d Onh),
Any pnrty In Int.r..t not .atl.fled with the appraIs.ll.nt, aIIowan(l~ or dl.aIIowano. of d.duotlon., or al......nt
of tlX (IncIudln~ dl.oount or Int.r..t) a. .hown on thl. Hotloe MUlt Objeot wIthin .Ixty (60) day. of rlollpt of
thl. HoUoe bYI
~-writtln protest to the PA Oepartunt of Revtlnu., Board of Appeal., nept, 281021, Ilarrllburll, PA 17128-1021, OR
--llIoUon to havI the utt.r l1uhrllllned ftt audit af the neeDunt of the plrsonal rlpr..lntatl"'I, OR
--app.al to the Orphan.' Court.
Faotual Irror. dI.oovQred on thl. a"ol.lIIlnt .hould b. addr....d In wrltlnll tal PA O.part..nt of Rlvenul,
Bur.au of Individual Ta~.', ATTHI po.t A.....III.nt Re",l.w Unit, ~Ipt. 280601. Harrl.burg, PA 111~8.0601
Phon. (111) 181~6S0S. S.. page S of the booklet "In.tr~ctlon. for Inheritance Tax R.turn for a R..ldent
Decedent" (nEV~lSnl) for an explanation of Idelnl.trallvely oorreotable Arror..
If an~ tlX dUI I. paId withIn three (3) ealtndftr lIIonth. Ift.r the d.oed.nt'. death, a five pero.nt (SX) di.oount of
the tlX paid I. a\Iowld.
The 15% tax a~..ty non~p.rtloJPatlon p.naltv I. oo.p~ted on th. total of the tax and Int.r..t a......d, .nd not
paid befar. January 18, 19~6, the fJr.t day aft.r the Ind of the tax aln..ty p.tiod, This non-partlcJpltlon
p.n.lty II ~Ip..labll In the .1.. ."nnn and In th. the .a.. tift. Plrlod at you would app..l the tax and Int.t..t
that ha. b..n .......d al Indicated on thl. notlo..
Int.r..t I. oharll.d blglnnlnll with flr.t d~y of d.llnqulnoy, or nine (9) lonth. and one ()) day fro. the dlt. of
d..th. to thl datI of Plv.lnt. Tlx.. which ble... d.llnqulnt b.for. Janunry I, 1982 b.ar Intlre.t at th. r.t. of
.Ix (6%) p.ro.nt p.r ann~1II calculat.d at a daJly rat. of ,000164. All tIX.. whloh b.o..' d.llnqu.nt on and .ftlr
January I, 1982 will bur Intarut at a ratl whIoh will very fr08 oal.nder Ylflr to oal.nder ynr with that rat.
announo.d bv the PA Departlll.nt of Revenu.. Thl IPplloabha lntlr..t l'llte' for 1982 throullh 1997 arl'
'!!!!. Inttr..t R.tl OaJlv Intlr.~~ ~ Inter..t Rlt. Oalh Intlr..t Faotor
1982 20:< ,000548 1987 9% ,000247
19U 16:< ,000"3& 1981.1991 1}jC ,000501
1984 11:< ,000501 1992 9~ ,0002"7
19&5 11% .000556 1995hl994 n .000192
1916 10:C .000214 1995.1991 .~ ,000247
"Intlr..t it Clalou!at.d .. follow'l
INTEREST . SA LANCE OF TAX UNPAID X NUHSER OF DAYS DELINQUENT X DAILY INTEREST FACTOR
..Any Hotlo. l.sUld aft.r the t,M bloo..ft dlllnqulnt will r.fl.ot an Int.r..t caloul.tlon to flft..n (1') d.V'
blyond the date of the a....".nt, If paYIII.nt It ,ad. Ift.r the Intlr..t cOllputatlon dati .hown on the
Notlo., .ddltlon.1 Int.r..t ~.t b. clloulattd,
;.
, f\
\ I (I \' {y
1'/ COMMONWEALTH OF PENNSYLVANIA
DEPARl'MENT OF REVENUE
.9J~~
,rtJif/iS'
1[~.l;.;J tl I" I~\-H I
ELIZABETH D
1--'Amo~;;-IR;;;I\l;d---'
[~='=~==:~-=1
MAKE CHECK PAYABI.E AND REMIT PAYMENT TO:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR RECORDS ~
fliv: lS4' i "'~X" -iiF'?" (0:;-: ~:"-i "l~oyn:n:f' y,;'; e:~"f'T i.'fi.;E- 'fiix" A~piiA i's;;',;i:t~l'-,- - J. ;::C 5~:.; f.: E' '(;!i" -. - .-'-' ,,- .,." -.
DISALLCWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
ESTATE OF FERUCCI ELIZABETH D FILE NO. 21 96-0708 ACN 101 DATE 10,,21--97
--
TAX RETURN WAS: ( I ACCEPTED AS FILED ( XI CHANGED SEE ATTACHED NOTICE
If an as"essment "''''5 ;,~~,!,!CI "rElv:ou<J3Y, li~e5 14, IS ZlI;cllt:O' l~, ..'1 ""u IS will
reflect figure'; ttlat inchldll thll total of AL.L. returns assessed to date.
ASSESSMENT OF TAX:
15, Allount of Line 14 at Spousal
16. Al'lount of l. in. 14 hxable at
17. Amount of Line 14 taxable at
18, Princip~l Tax Cu.
II
8UREAU OF INDIVIDUAL TAXES
IHHERITANCE TAX DIVISION
DEPT, 280&01
t\ARRJS8URO, PA lHZ8-0601
NOTICE OF INHERITANCE TAX
APPRAISEMENT, ALLOWANCE OR DISAlLOWANCE
OF DEDUCTIONS ANO ASSESSMENT OF TAX
ROBERT K REITZEL
HERSHEY TRUST CO
PO BOX 445
HERSHEY PA 17033
DATE
ESTATE OF
DATE OF DEATH
FILE NUMBER
COUNTY
ACN
10-21-97
FERUCCI
08-21-96
21 96-0708
CUMBERLAND
101
RESERVATION CONCERNING FUTURE INTEREST .. ~REVERSE
- --
APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN
1. Roal Estate (Schedule A)
2. stocks and Bonds (Schedule B)
3, Closely Held stock/Partnership Intorost (Schedul(/l C)
4. Mortgages/Notes Recei'JablB (Schedule 0)
s, Cash/Bank Deposits/Misc, Personal Property lSchedule El
6. JointlY O~nRd Property (Sehedu18 F)
7. Transfers (Schedule G)
6. Total Assets
(ll
(21_
(31_
(~)
(S)
(6).
(71
.00
.00
.00
.00
39 ,956, 2.Q.
.00
435,466.00
18)
12,036.00
2.692,00
(11)
112)
( 131
114 )
APPROVED DEDUCTIONS AND EXEMPTIONS:
9, Funeral Expenses/Adm, costs/Mise, Expenses (Schedule Hl
10. Debts/Mortgage Liabilities/Liens (Schodule I)
11, Total Dnductlons
12. N.t Valu. of Tax Return
13, Char i table/GOYAI'omental Bequest s (Schedl.l!e J)
14, Net Value of Estate Subject to TaM
( 9)
110)
NOTE:
.00 X,OO,
459,484.00 X.06,
1 . 2 1 0 , 00 X . 15,
rah
LineAL/Class ^ rat.
Collateral/Class Brat.
115 )
(16)
(17)
TAX CREDITS:
~---_..__._~.._.._-_._.~-_.~-~------_._~-~----~~..-----.----_.---
__:Ai-~~:'96-fl~--_-i\;i:~~;4---L~NT:;EIiTC~~E~ P:A:~ . ~- ~
05-21--97 AA211325. \ .00
--,-----_.,~ _._---_.._--,-_._~,~---,-,.,--
INTEREST IS CHARGED THROUGH 11-05-97
AT THE RATES APPLICABLE AS OUTLINED ON THE
REVERSE SIDE OF THIS FORM
-'._-'~_._~'---
AMOUNT PAlO
-~8,550.bo-
2,004,00
NOTE: To insure proper
oredit to your eccountl
subnit the up~er portion
01 this forI! with :lour
tax paYWlent.
475,422.Q.l!.
14,PR 00"
460,694.00
.00
460,694.00
118)_
.00
27.569.04
-
182.00
27,751.04
TOTAL. TAX CREDIT~:' l\, 00'4.00
_.._-~_. . ------_..~----
BALANCE OF TAX DUE 16.747.04
INTEREST AND-PEN-~-'-----~94
---~-_.--~_..- .'-"'---' -..---..---'---'"
TOTAL DUE, 17,441.98
^..~.,._--"-_....._-,------ .--..---.." ._~.-_...--.-,----_.-------------..
. lF PAID AFTER DATE INOICATEO. SEE REVERSE
FOR CAlCULATION OF AODITIONAL INTEREST.
I IF TOTAL DUE IS LESS THAN $1, NO PAYMENT IS REQUIRED.
IF TOTAL aUE IS REFLECTED AS A "CRI'DIT" (CR). YOIJ MAY BE DUE
A REFUND. SEE REVERSE SIDE Of TIllS f'ORM FOR ItISTRUCTIONS,)
PA't'MENTI
Dttaeh the tap portion of thl. NotIce and JUbMJt wJth Your pa~~ent .adt pa~abl. to th. nl~' and addr...
printed on the rever.e tide,
If RESIDENT DE:CF.DEHT uk.. cheok or fllOnClY order payable tOI REGISTER OF WILLS, AGENT.
If NOH-RESIDENT DECEDENT flllkl chflClk or t1on6lY order plIyabte tOI COMMONWEAL nl OF PENNSYLVANIA,
REFUND (CRll A refund of 8 tax Qrtdlt, whloh was not ruquQlted on the Tax Return, ~ay be requested by COMPletlno an
"Application for Refund of Pennsylvania Inhor Itance and Estah Tex" (REV-Ul3), Applications are available 8t
the OHlce of the RoglStClr of Wills, My of the 2~ Revonue District OHloQS or from tha Oepllrtment's 24-hour
answ.ring service numbers for forms orderlngl In Pennsylvania 1-SOO-36Z-20S0, outside P8nn~Ylvlnlll
and within looal Harrisburg area (717) 7S7~S094, TOO. (717) 772-2252 eftelring Irnpalrod only).
REPLY TOI
Questions regarding errors contained on this notice should be addre'Ued to: PA O.partllllnt of Rev.nu., BurulI
o,f Individual ltIxu, AnNI Post ASSeSSlllElnt R'\llew Unit, Dept. 2S0601, Hllrrlsburg, PA \1126-0601, pilon.
(17) 787.6S0S,
DISCOUNT:
If any tex duo Is peJd within throe UJ calendsr Months I'Ifter the docodent's denth, a flye percent (S%) dIsoount
of the tex paid Is allowud.
rENAl TVI
The IS% t....x lllllnGSty non-pnrtlclpstion ponlllty Is cOMputed on the total of the hl< and IntnrGst nssessed, and not
paid before January IS, 1996, the first dllY 8ft.r tile end of the tax aMnesty periOd.
INTEREST:
Intere.t It charged begJnnlng with first day of deUnquoncy, or nine (9) Months ond one (l) day frail thll date of
duth. to the dl!lte of paym.nt. hxu whioh beol!l.1I delinquent before Janllftry 1, 1982 blllr Inter8lt at th'" rate of
six (6%) p.rc.nt per llnnlJlI oalculated lit a t1ally rate of .000164. All ta)(u which b.cam, d.llnqu.nt on and efter
January I, 1982 will b.llr Interttt nt II rate which ulll vary frolll calendar y'8r to cahlndar yellr with that rate
IllnnOUl1eeCl by the PA Oepftrtlllgnt of Rev.mID. The llppllcabl. Intllrest rates for 198i thrOUlIh 1997 arel
Year
Interest Rnt. Dally Interest Factor
Year
Interest Rfth
Pelly Interest fllCtor
1982 20X ,000S48 1987 9% ,000241
1985 16% ,000(,38 1985.1991 11% ,000301
1984 11% ,000301 1992 9X ,000247
19S5 15% .000356 1993-1994 7% .000191
1986 10Y. .000274 19'15-1997 9% .000247
.-Inhrost Is calculated ., fellowsl
INTEREST . BALANCE OF TAX UNPAIU X NUMBER OF DAYS DELINQUENT X DAILY INTEREST FACTOR
"Any Notice luued flfhr the tax beco"u delinquent will refl.ct !'In Inhrut 081cuhtlon to flft..n C1S) day I
h.yond the dllte of the IIIs.....nt, If PI'lYM.nt Is I~l!lde lIft.r the lnhrut cOMpuhtlon dllte shown on the
Hotlce, llddltlonlll lntornt !!lust he calculftted.