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HomeMy WebLinkAbout97-00456 ;r) ..~ /y/. Ii' (I. '1EV-''''''EX'(7-94\ J INHERITANCE 'TAX RETURN lOR OATfSOF OfATHAFTER 12/31191 _/ . , -, CHECK HoRE IF ^ SPOUSAL RESIDENT DECEDENT POVERTY CR~~'!1S CLAIMEOfl____ COMMONWEALTH OF rENNOVlVAN'A (TO BE FILED IN DUPLICATE FILE NUMBER OErARTMENT OF nEVENUE 2] 1997 i / ') f tlARn"~~~~,~~~~~~"-0801 _ WITH REGI~TE_R OF WIL.LS) COUNTY CO?E YEAR NUMB~H DECEDEN1"S NAME (LAST, FIRST, AND MIDDLE INITIAL) DECEDENT'S COMPLETE AOORESS Hackett, n:rma B. . _ __ 267 Belvedere Street DECEDENT SOCIAL SECURITY NUMBER :1ATE OF DEATH DATE OF BIRTH carlisle, PA 17013 188-40-6359 03/17/97 10/11/1908 Counly Qnberland ~IRSik~clm~bt~~~:rl'~l~ SPDUS .'. AM[ ILA51. SOCIAL SECURITY NUMBE~LItH R~CEIVEO (SEE INSTRUCTIONS) 1. Orlgll1sl Return U 2, SupplomontaJ Aolurn 1] 3. Rtlmttlnder Roturn o 5. Fodoral Estafe Tax Rahlrn Required o 4a. Future Inlerost Compromise (10' dOlO. 01 doalh altor 12-12-82) Oocodont Dlod ToRlalo El 7. DocRdonl Malnlalood a Living Trust (Anooh copy 01 Will) (A1lach copy 01 Trusl) ~fl$~DEI~1:: AND OONI!!mL~JNF~MA'tlotlSHoIJU) Bll DIRltOTEp TOI NAME COMPLETE MAILING ADORESS l.owell R. Gates, Esquire Gates & Associates / P. C. TELEPHONE NUMBER 1013 Muma Road, Suite 100 717-731-9600 e PA 17043 1. Roal E.lato (Schodulo AI ( 1 ) Ncne 2. Slocks and Bond. (Sohodulo B) ( 2 ) Ncne 3. Closol\' Held Slook/Partnershlp Inlero,t (Seh. C) ( 3 ) None 4. Mortgago. and Nole. Rocelvable (Schodule 01 ( 4 ) None 6. Ca.h, Bank Deposits & MI.collaoeou, Por.onal ( 5 I 23 .47 Properly (Sohedule E) 6. Jointly Owned Proporty (Sohodule F) 7. Tren.ler. (Schedulo GI (Sohedule L) 6. Tolal Gro.. A..ol. (lotal Line. 1-7) 9. Funeral Expenses, AdmlnlslraUve COSIS, MI.cellaneou. Expeo.e. (Schedule H) 10. Debl., Mortgage lIabllllles, Lien, (Solledule I) 11. Total Deduotlon. (Iolal Line. 9 & 10) 12. Nel Value 01 E.tate (L1no 6 mlnua Line 11) 13. Charitable ana Governmental Beque.ts (Schedulo J) 14. Net Value Subject to Tax (1.lno 12 mlnu. Line 13) 15. Spousal Trlnllen(lor datu of dlllth Aller 8-30-94). Sill InatruG\lDn& for AppllC4blll P'fCllnlaQII on raOIl2.(lllclude vatun from Schedule K or Sohadule M.) 16. Amounl 01 Line 14 tl)(able at 6% rate (Include value.'rom Sohedule K or Sohedule M.) 17. Amount of Una 14 taxable at 15% rale (Inolude value' Irom Schedule K or Schedule M.I Principal tax due (Add II)( Irom Llno. 15, 16 and 17.) Cre<111s Spousal Pllverty CredIt Prior Payments :JiSCOll/lt Intoresl + 1/ 655.46 + 87.13 - 0 . 00 20. II Line 19 I. realor Ihan Line 18, enlor tho dllleronco on Line 20. This 191ho OVERPAVMENT, ~ (lhlClk ...,,~" 011.... r. ue81lng& 'efund 01 your oy.rpavmant. I 21. If LInD 18 is grealer than Uno 19, onter tho dll1erence on Uno 21. This is the TAX DUE. A. Enter the Inlerest on 1t18 balance duo on Uno 21A B Enlor the lolal 01 Line 21 and 21A 011 LillO 210. Thl.I. the BALANCE DUE. Mlk. Ch.ok Po obi. to: R.glst.r of Wltlo, Ag.nt ... ... BE SURE TO ANSWER ALl QUESTIONS ON PAQU AND 'to ReOHECK MATH.... '. Undor panalUas of perjury, I declare thaI I have oxsmmed1fii'SiOi'wn, including accompanyIng scl1edulos and statemonts, and 10 the bost of my knowledge and belle', ills true, correct and complete. I declaro that ait roal eRtato has been reported at true market value. DeclaratIon of prepsror other than the personal re resentativ is based on all information of which proparor has any knowledgo..:.. _ CHECK APPRO- PRIATE BLOCKS 04 ~6 Limited EUlato CORRES- PONDENT RECAPIT- ULA TION TAX 18. COMPUTA- 19. TION SIONATUAr ,: PERSON RESPONSIBLE f'OA f7ILlNn fH' URN ~~._- Mlnn(~;S See Schedule attached 51~RE : PRf.PARHIOTHFR THAN R[PRlS[N'ATIV( vV' ,..\,...../'..----' 1 001 NHfl679 A(l(JflE;lS (ford.tluofduthprlorlo 12~t).II{) o 6. Total Numbor 01 Sale Dopo.1t Boxe. (6 ) 33.75 (7 ) 37,000.00 (8 ) (Q) 7/970.00 (10l 44.00 (11) (12) (13) 37/057.22 8/014.00 29/043.22 None (14) 29/043.22 (15) x. . (161 29,043.22 x ,06 . 1/742.59 (17) 0.00 x .15 . 0,00 (16) 1,742,59 (19) (20). 1/742.59 (21) (21AI (21B)_ 0.00 0.00 o.oir DATE ~'l-',I'I'1J DATf. _Ntt~ J I J \.11_ , 1013 Mlrnna Road, SUite 100 I~nayne:-PA 17043 Cllr>Vrt\jhl UlIllS SnltWM~ Clrlly. IIH14 Nelcn. Inc. ~HI4PA()OI R~V-1609 EX + (12-881 COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF rama B. Hackett Jol"II""""I(I): NAME A Me L. Bl~ Jol~llY-ow"od proplrty: SCHEDULE F JOINTLY-OWNED PROPERTY ----'-- ----- _. ADDRESS 267 Belvedere Street Carlisle, PA 17013 L I FILE NUMBER 21-1997- RELATIONSHIP TO DECEDENT son - - LETTER DATE I DOLLAR VALUE OF ITEM FOR MADE DESCRIPTION OF PROPERTY TOTAL VALUE DECO'S DECEDENT'S NO. JOINT JOINT or ASSET "'INT. INTEREST TENANT - 1 A 08/02/91 Pennsylvania State FiTployees 5.18 50% 2.59 Credit Union, ACCOlUlt No. 0188406359, Regular Shares S1. (see stat.arent) 2 A 12/14/93 Pennsylvania State Ellployees 0,02 50\ 0.01 Credit Union, AcCDunt. No. 0188406359, Vacatial Shares 82. (see stat.arent) 3 A 12/14/93 Pennsylvania St.at.e Ellployees 0.06 50% 0.03 Credit Unial, Accmmt No. 0188406359, Christrras Shares 83. (see statenent) 4 A 08/02/91 Pennsylvania Stat.e Enployees 62.24 50% 31.12 Credit. Union, Accmmt. No. 0188406359, OJeCking 54. (SE;le , statarent) , TOTAL (Also enter on line 6, ReqapltulaUon) $ 33.75 PA15081 NTf l11BA Cflf!Vrlgh1 Forme Snllware Only, lIHI4 Neloll, Inc, N1I4f'A091 (II mora spaca Is needed, Insert addlllonal sheets 01 same .'za.) I I ~ ~I ~ ~ ~ f ~ i,j, I ~! M ! ~ !i I i~ ~ ~~ j H r'R! ~~ l.!lO.....4l't........4A""~flIt...,....""~... i! ~J - t-. .. ... ~ ~li y ~t~~ to I . . . ~ . . ~~;~iJ~ ~ ~ ~ ~ j ~ . \rffiFi~ ~..'5:. ~ ~~H ! ~" t. ~ "~(~~ ~ J j Si S .'~ "_>>1 !iHd 11 , A' ~ i ~ E I . 8 ! ~., ~ : ~t ~ ! liB ! I I @Hs I ~ 1l;l;.Gd ~ I ~!Pi f' I ~l!~1. ....pUf'J .. ........ ~t~~~ Ol=-~~ ~ ij\-~S~ J;""" I ~ga~ ~ UH! <.'i ~!= ~ Iii Jt..} I ~q ~- .. !iileo-: : 81" ~i Q h~ U ~ i i - , " i ..- u fE~U w ~ i ! , :i = ~ ~ :J! ~. as.. \I: ~ ~ : ~ i ~~r"- 0 ee.H;j~ g~~~j ~i!H ~ H~iH~ ~~J'J'J' o~-~. ~ i~g~i';.i ?~ "i~g.r"u :.:. caleca ,,~ z=O"~uJ~ ~s". tal 0"'_- ~ ~ l ~ ~ ~ VI i ~ H- h ~ l!i H ~ ;;HFgffi~ ~~dot~;Sli' :;:~H~ -}~ci'"CJl>,,;;~J;e"i ll;ul;,J) U..i".&a:CI;Z.i!~li:~' CI;<(oil ,I ili:'t.::)~~~"!lIIlil o..u."e! d~~ou~_;;l~;~hg.CI; I~~~ Ni- ~ t-V>u..>. 1.~.i~.Q UJ 0::> , - ~ ~ 11 3;'40H WtBNn.:l 31 VQl1dltlJ. 8 - ~'i ~ !NlI1~) 31VJI'ldna ~ t6lll v ;10 (I :l ~ TvNll:llUO \ o .9 .... \ o .. I \ ! ~ c ~ j ~ .. .. .. u' - - - 0 i I I I !Iif! Jill .. ... .. .. .. .. ~ Ii; ~~ i~R~ ~ ~ ~J 8 '5 ~~!; ~ Jjl H hJJ 5? -Hi 1 ~ fill i~ ni H i~fj ~ V JII g fJi. ~ ~ IUf Ji ~dl o ; "III ill'; a - i liil i I hll j ~ UJ! h Hil i ~ fUt U dll f I; II I 'i";: ~l!'li : t ~ I!H ~ h I.(A: i ad ffi itllU.r"O W2 f ~ ~ JJlri~Hnb ~ ~;~J1J~h~U~I.n ~y I i J " "j J II j ll.00l: '5 '0.._ .. II> v e i in ,xp .x , , I . l ~~ .= .. Q ~ I I ~ ~ j .!! .!!.!! I . ~~ II' :~ I~ j it~ s I II1 ! iii 6 Q: - ~ .. .. I II I.~ IIN ~N .,. ." ..... M 4I't tit ~ "" ~ -. o t- ..............~... ..1IIt-.... ...,""'M.,. . . , . . . , . . , . , . . , , Hj .. III . i j j · . ~ _ _ J . ~ fi-; ~~~j~ ~ j n J ::J . . , . ~ W . ... ~ ~ ;If f II nl[J H! . . f f II II '~~~~-~IJj ~!~ ~d~ ~ I ~S~~Jd ~I ~ il ~~n ~ ~U 1 ~ ~ L :i ~ I ~ & I ~ ~ ~ ! 1111/1 I III ~[! ~ LAST WILL AND TEllhMENT Ql !2QHHlLlt.__.RD,!iKETT l?AmL~ included in my groBs estate for the purpose of such taxes, whet.her such property passes under or outside of t.his Will. wit.hout any apportionment otherwise required by law and wit.hout. being prorated or apportioned among or charged against t.he respective devises, legatees, beneficiaries, transferees, or other recipients of any such propert.y or charged against any propert.y passing or which may have passed to any of them, I direct that any taxes so paid shall be charged against. my residuary estate. My Executor shall not be entitled to reimbursement for any portion of any such taxes from any such person. The foregoing provisions of this Art.icle SECOND shall not apply t.o such porti.on or port.ions of said t.axes, interest and penalt.ies which may be required to be paid, or are actually paid or reimbursed, by the Trustee of t.he Trust described in Paragraph FIRST (C), above. THIRD: TallilA_QJJL_\,erson~:), Properj;y. Except. for those items excluded below and t.hose items enumerat.ed in the Let.t.er of Instruction, I bequeath all my tangible personal propeL'ty, including but not limited t.o clothing, jewelry, heirlooms, furniture, household furnishings, personal effects, motor vehicles, and all other similal" art.icIer;, which I own, and t.he insurance thereon, t.o my child, if he is living at t.he time of my deat.h. Tangible personal property shall not include: (1) any and all property used by me in any business, (2) cash on hand or on deposit in banks, (3) stock or securities, (4) any type of evidence of indebtedness, and (5) any life, health or accident insurance policies. If my child does not. survive me, I leave such tangible personal propert.y t.o his issue per stirpes. If there is any disagreement as t.o dist.ribution, I direct my Execut.or to make such distribution. The decision of my Execut.or shall be final and binding. Any items not select.ed or any items which my Executor considers unsuitable for children may be distributed or sold in the sole discretion of my Execut.or and, if sold, the net. proceeds therefrom shall be added to t.he residue of my estate. Any such article allocated t.o a minor may, as my Executor deems advisable, either be delivered t.o t.he minor or t.o any person to safeguard on behalf of the minor. Notwithstanding any other pl'oviaions in t.his Article THIRD, I may leave a separate, dated and unsigned Letter of Instruction, which I shall place with my Wi.ll, containing directions as to the ultimate disposit.ion of certain of the property bequeathed un' er this A.rt.icle THIRD, and such L,et.ter of Instruction shall dete)Plijie the distribution of such items. \.... ~ f)'/JlItI/'. ~ t~ LAST WILL AND TEST~ Ql l2QNHb B. HACKETT flt.JiL1 FOURTHs Residuary Estate. I devi.se and bequeath all of the rest, residue and remainder' of my estate, real, personal and mixed, of whatever nature and wherever situat.ed to which I am legally or equitably entitled, t.o the t.hen-acting Trustee of the Trust described in Paragraph FIRST (C) of this Will, to be held, administered and distributed pursuant to the t.erms t.hereof, as the same may be amended from time to time. By this devise and bequest of my residuary estat.e I hereby exercis8 all Powers of Appoint.ment I POSS()SS at. the t.ime of my death except. any power of appointment which I pOSSEJSS under the Trust: described in Paragraph FIRST (e) of this Will. FIFTH: poweI's_of.. ExecutQ.;:. In addition t.o the powers and duties as may have been granted elsewhere in this Will, but subject to any limitations stal:ed elsewhere in this Will, t.he Executor shall have and exer'cise exclusive management. and control of the Estate and shall be vested with the following specific powers and discretion, in addition t.o t.he powers as may be generally conferred from time to time upon the Executor by law: (A) In the management, care and disposition of the Estate r the Executor shall have the power to do all t.hings and to execute such instruments, deeds, or other document.s as may be deemed necessary or proper, inCluding the following powers, all of which may be exercised without order of or report t.o any Court: (1) To sell, exchange or otherwise dispose of any property at any time held or acquired hereunder, at public or private sale, for cash or on terms, wit.hout advertisement, including t.he right. to lease for any term notwithstanding the period of the Estate, and to grant. opt. ions , including any option for a period beyond t.he durat.ion of the Est.ate; except that, in lieu of any binding shareholder agreement or buy/sell agreement to the cont.rary, the 8xecutor shall not be permitted to sell the stock or any ot.her ownership int.erest in any business owned by me, or held in trust., at my deat.h, without first offeri.ng the same for sale to my children, or without next offering the same to the corporat.ion or business represented by such ownership int.ere8t for redemption. , , . I (2) To invest all monies in such stocks, bonds, securities, mortgages, notes, choses in action, real estate or improvements t.hereon, and any other property as t.he ExecutQr may deem best, without regard to any law now or hereaf er enforced limitJ.ng investments of fiduciaries, except tha the Executor may 110t invest in any securities issued b ,the /' . --- -- ,fJJ3,H LAST WILL AND TBSTAMIUfr Ql ~.....Il'ACltB'O' iMlL! oorporate Executor, cr issued by a parent or affiliate company of suoh Executor, or any stock in <l company which the oorporate Executor or their parent or affiliate holds as an asset, either individually or in a fiduciary capacity. (3) To retain Ear investment any property deposited with the Executor hereunder; except that the Execut.or may not retain for investment any stock in the corporate Executol', or in a parent or affiliate company of such Executor, or any stock in a company which the corporate Executor or their parent or affiliate holds as an asset, either individually or in a fiduciary capacity. (4) To vote in person or by proxy any corporate stock or other security and to agree to or take any other action in regard to any reorganization, merger, consolidation, liquidation, bankruptcy or other procedure or proceedings affecting any stock, bond, note or other security. (5) To use attorneys, real estate brokers, accountants and other agents, if such employment is deemed necessary or ,desirable, and to pay reasonable compensation for their services. (6) To compromise, settle or adjust any claim or demand by or against the Estate and to agree to any rescission or modification of any contract or agreement affecting the Estate. (7) To renew arty indebtedness, as well as to borrow money, and to secure the same by mortgaging, pledging or conveying any property of the Estate. (8) To retain and carryon any business in which the Estate may acquire an interest, to acquire additional interest in any such business, to agree to the liquidat.ion in kind of any corporation in which the Estate may have an interest and to carryon the business t.hereof, to join with other owners in adopting any form of management for any business or property in which the Estate may have an interest, to become or remain a partner, general or limited, in regard to any such business or property and to hold the stock or ot.her securities as an invest.ment, and to employ agents and confer on them authority to manage and operate the business, propert ~r corporation, without liability for the acts of such ag t or for any loss, liability or indebtedness of such 'us:\. if ..J),8-J/. 21t/- LAaT WILL AND TESTAMENT Ql J2.Qml'A B. HAOXB:TT P.AGE 5 the ma~agement is selected or retained with reasonable care. (9) To register any stock, bond or other security in the name of a nominee, without the addition of words indicating that such security is held in a fiduciary capacity, but accurate records shall be maintained showing that such security is a Estate asset and the Executor shall be responsible for the acts of such nominee. (B) Whenever the Executor is directed to distribute any Estate assets in fee simple to a person who is then under twenty- one (21) years of age, the Executor shall be authorized to hold such property in Trust for such person until he/she becomes twenty- one (21) years of age, and in the meantime shall use such part of the income and the principal of the Estate as the Executor may deem necessary to provide for the proper support and education of such person. If such person should die before becoming twenty-one (21) years of age, the property then remaining in trust shall be distributed to the personal representative of such person's estate. (0) In making distributions from the Estate to or for the benefit of any minor or other person under a legal disability, the Executor need not. require the appointment of a guardian, but shall be authorized to payor deliver the same to the custodian of such person, t.o payor deliver the same t.o such person without the intervention of a guardian, to payor deliver the same to a legal guardian of such person if one has already been appointed, or to use the same for t.he benefit. of such person. (D) In the disbursement of the Estate and any division into separate trusts or shares, t.he Executor shall be authorized to make tne distribution and division in money or in kind, or both, regardless of t.he basis for income tax purposes of any property distributed or divided in kind, and the distribution and division made and the values established by the Executor shall be binding and conclusive on all persons taking hereunder. The Executor may in making such distribution or division allot undivided interests in the same property to several t.rusts or shares. (E) The Executor shall be authorized t.o lend or borrow, including the right to lend to or borrow from any trusts which I may have established during life or by will at an adequate rate of interest and with adequate security I and upon such tenns and conditions as the Executor shall deem fair and equitable. " (F) The Executor shall be authorized to sell or purc AB.U ?1t/ ItAST WILL...AIDLIIDrrAMENT 9.1' pONNA ~. HACKETT !'ML..i the fair market value as determined by the Executor, any property to or from any trust craated by me during Hfe or by Will, even though the Bame person or corporation may be acting as Executor of my estate or as Trustee :Jf any of my ot.hflr t.rust.s. (G) The Executor shall have discret.ion t.o det.ermine whether :I,tems should be charged or credit.ed t.o income or principal or allocated between income and prIncipal as the Executor may deem equitable and fair under all the circumstances, including the power to amortize or fail t.o amortize any part. or all of any premium or discount, to t.reat any part or all of the profit. resulting from the maturity or sale of any asset, whether purchased at. a premium or at a discount., as income or principal or apportion t.he same between income and principal, to apportion t.he sales price of any asset. between income and principal, to treat. any di vi.elend or ot.her distribution of any investment. as income or princi.pal, or apportion the same between income and princj,pal, t.o charge any expense against income or principal or apport.ion the same, and to provide or fail to provide a reasonable reserve against depreciation or oosolescence on any assets subject to depreciat.ion or obsolescence, all as the Executor may reasonably deem equitable and just under all the circumstances. If the Executor does not exercise the above discretionary power, t.he cash or accrual allocat.ion shall be in accordance with Chapt.er 81 of 'Tit.le 20 of t.he Pennsylvania Consolidated St.at.utes, or the corresponding provisions of subsequent. st.at.e law. (Il) If at. any time the total fair market value of the assets of any trust. established or to be established hereunder is so small that the co,rporat.e Trustee' 13 annual fee for administering the t.rust would be the minimum annual fee set forth in the Trust.ee's regularly published fee schedule then, in effect, t.he Trustee in its discretion shall be authorized to terminate such t.rust. or to decide not to establish such trust, and in such (went t.he property then held in or to be distributed t.o such trust shall be distributed to the persons who are then or would be entitled to the income of such tnlSt.. If the amount of income to be received by such persons is to be determined in the discretion of the Trustee, then the Trust.ee shall dist.r:l,bute the property among such of the persons to whom t.he Trustee is authorized to distribute income, and in such proportions, as the T:r'ustee in its discretion shall determine. (I) authority Executors Except. aD otherwise provided in this and power under t.his Will is vest.ed in or 'l'rustees, the authority and powers Will, whe two (2) are to (, , .L.tlJL- ~4~ LAST WILL AND TESTAMENT Ql PONNA B. HACKETt PAGE ., jointly by the Executors or Trustees, respectively. A majority of the Executors or Trustees may exercise any authority or power. granted under this Will or grant.ed by law, and may act under this Will. Any attempt. by one such Executor or Trustee to act under this Will on other than ministerial acts shall be void. The action of one such Executor or Trustee under this Will may be validated by a subsequent ratification of the act by a majority of the Executors or Trustees. SIXTH, ~iqht~~d Li~il~ties of Executor and Trustee. (A) No bond or oth.er security shall be required of any Executor. (S) This instrument. always shall be construed in favor of t.he validity ')f any act or omission by any Execut.or, and any Executor shall not be liable for any act. or omission except in the case of gross negligence, bad fait.h or fraud. Specifically, in assessing the propriety of any invest.ment, the overall performance of the entire Estate shall be taken into account. (C) Each Execut.or shall be ent.itled to receive reasonable compensation for services actually rendered t.o my estate, in an amount the Executor normally and customarily charges for performing similar services during the time which he/she performs the services, SEVENTH: Tax Elections. (A) In dete~-mining t.he estate, inheritance and income tax liability relating to my Est.ate, the Executor's decision as to all available tax elections shall be conclusive on all concerned. In accordance with IRe Section 2632(a) and without. regard to whether a Federal estat,e tax return is actually filed, my Executor shall allocate so much of the Federal Generat.ion Skipping Transfer (GST) exemption amount as will fully exempt any generation skipping transf.er which may occur under this Will. (S) The Executor may, in its discret.ion, det.ermine the date as of which my gross est.at.e shall be valued for the purpose of determining the applicable t.ax payable by reason of my death. (e) The Executor may, in its discretion, decide whether all or any part of cert.ain deduct.ions shall be t.aken as in~cme .tiJllx deductions (even though they may equal or exceed the taxable i 6me of my estate and whether or not claimed or of be~ n my :d~ ~R!i,#' ~, LAST WILL_AND TESTAMENT Ql DONNA B. BACKIII FMI...l estate's income tax return) or as estate tax deductions when a choice is available; and in the event that: all or any part of such deductions are taken as income tax deductions, no adjustment of income and principal accounts in my estate shall be made as a result of such decisions. EIGHTHl SDendthdft Provision. No beneficiary shall have the power to anticipate, encumber or transfer his or her interest in the estate i,n any manner other than by the valid exercise of a power of appointment. No part of the estate shall be liable for or charged with any debts, contracts, li.abilHies or torts ot a beneficiary or subject to seizure or other process by any creditor of a beneficiary. NINTH I Definitions and General Provisions. (A) Survival. Any beneficiary who di,es within sixty (60) days after my death shall be considered not to have survived me. (B) CaDtions. The captions set forth in this Will at the beginning of the various articles hereof are for convenience of reference only and shall not be deemed to define or limit the provisions hereof or to affect in any way their construction and application. (C) Children. As used in this Will, the words "child" and "children" shall include persons who are legally adopted and the '.ssue of said persons, whether born in or out of wedlock, so long as any person born out of wedlock is acknowledged in a written instrument executed by the one of their natural parents who is a descendant of mine to be the child of said descendant. The word "issue" shall include descendants of all generations including adopted persons. A posthumous child shall be considered as living at the deat.h of his parent The birth to me or the adoption by me of a child or chlldren subsequent to the execution of this Will shall not operate to revoke t.his Will. (D) Code. Unless otherwise stated, all references in my Will to section and chapter n~mbers are to those of the Internal Revenue Code of 1986, as amended, or the corresponding provisions of any subsequent federal tax laws applicable to my estate. (E) Other termB. The use of any gender includes the other genders, and the use of either the singular or the plural inclu the other. !tn, PJ' .*J-' THE Ii THIS TRUST AGREEMENT is executed in triplicate on this _Ji_ day of October, 1996, by and between DONNA B. HACKETT, now of 267 Belvedere Street, Carlisle, Cumberland County, Pennsylvania 17013 (hereinafter called "Settlor") and DAl,E L. BLOMAN, now of 267 Belvedere Street, Carlisle, Cumberland County, pennsylvania 170U (hereinafter called "Trustee"). HACXETT FAMILY IRREVOCABLE TRUST ARTICLE I. TRUST ESTATE 1.01. lqitia1 PrinciDll. Set.tlor, desiring to establish an irrevocable trust, does hereby irrevocably transfer, assign and deliver to the Trustee and its successors, and asoigns the assets listed on Schedule A, attached hereto and made a part hereof. As further evidence of such assignment, the Settlor has executed or will execute or cause to be executed such other instruments as may be required for the purposes of complet.ing the assignment or transfer of title to such property to the Trustee. The Trustee accepts such transfer and assignment to it.self as Trustee, and undertakes to hold, manage, invest and reinvest the assets of this Trust, and to distribute the incomG and principal of the Trust in accordance wit.h the provisions of this Agreement. 1.02. Addit;!.pna1 PrinciDa1. The Settlor and any other person or persons, with the consent of the Trustee, shall have the right at any time to make additions to the corpus of this Trust or any share thereof hereby established. All such additions shall be held, governed, and distributed by the Trustee in accordance with the terms and conditions of this Agreement. ARTICLE II. IRREVOCABILITY OF TRUST 2.01. Irr.evocabilitv. Settlor has been advised of the consequences of an irrevocable t.rust and hereby declares that this Trust shall be irrevocable and shall not be altered, amended, revoked, or terminated by Settlor or any other person or persons. ARTICLE III. LIFE INSURANCE POLICIES 3.01. general Provision~. If any insurance policies are transferred int.o this Trust, the Trustee shall be vested with all right., title, and interest in and to the transferred policies of insurance, and is aut.horized and empowered to exercise and enjoy, for the purposes of the Trust herein created and as absolute owner of such policies of insur'ance, all the options, benefit.s, rights and privileges under such policies, including the right to borrow upon and to pledge them for a loan or loans. The Trustee takes all rights, title, and interest in and to the above stated insurance policies subject: t.o any pdor spHt."dollar l.ife insurance agreement and assignment.s, which may be in effect at the time of transfer. 'rhe insurance companies which have issued poUcies are hereby authorized and direct.ed to recognize the Trustee as absolute owner of such policies of insurance and as fully entitled t.o all options, rights, privileges, and interests under such policies, and any receipt.s, releases, and other inst.rument.s execllted by the Trustee in connection wit.h such policies sh.all be binding upon all persons interested in this Trust, The Settlor hereby reU,nquishes all rights, title, interest. and powers in such policies of insurance which Settlor may own amI which right.s, t.itle, interest and powers are not. assignable, and will, at the request. of t.he Trustee, execute all other inst.rument.s reasonably required t.o effect.uat.e this relinquishment. 3.02. ~~nt -.Qt:. premiumf!. The Trustee shall be under no obligat.ion to pay the premiums which may become due and payable under the provisions of any policy of insurance which may be transferred or assigned t.o this Trust., or t,o make certain t.hat such premiums are paid by t.he t.ransferor of such pol.icy, ()r to notify any persons of the nonpayment. of such premiums, and t.he Trustee shall be under no responsibility or liabilit.y of any kind in case such premiums are not paid, except the Trust.ee shall apply any divi.dends received on such policies to t.he payment of premiums thereon. Upon notice at any ti,me during the continuance of this Trust that. the premiums due upon such policies are in default, or that premiums which will become due will not be paid, either by the t.ransferor or by any other person, the Trust.ee, wi thin its sole discretion, may apply any cash values at.t.ributable to such policy to the purchase of paid-up insurance or of ext.ended insurance, or may borrow upon such policy for the payment. of premiums due thereon, or may acc~pt. the cash values of such policy upon the policy's forfeit.ure. In t.he event that. the Trustee receives the cash value of such policy upon its forfeit.ure for nonpayment. of premiums, the amount. received shall be added to the corpus of this Trust, and shall be admini.st.ered according t.o the t.erms of this Agreement.. If the insured under such policies of insurance, becomes totally and permanently disabled wi thin the meaning of any policies and because t.hereof the payment of premiums, or any of them, shall during the pendency of such disabilit.y, be waived, the Trustee, upon receipt of such knowledge, shall promptly notHy the insurance company whi.ch has issued such policies, and shall take any and all steps necessary to make such waiver of premium provision effective. 3.03. l2.yties _.9f Tr,ustee W:!,th Recrard ,tCL_!4.1.L-I-1!/l_urance Policies. The Trustee shall be under no obligation or duty whatever except with respect t.o the safekeeping of such policies of insurance and the duty to receive such sums as may be paid to them, in accordance with the requirements of this Trust, by the companies issuing such policies, and to hold, manage and di.sburse such proceeds subj ect t.o t.he terms of this Agreement.. Upon the death of 2 the insured, the Trustee shall m~ike reasonable effort.s to carry out the provisions 01: this Agreement, including the maint.enance or defense of any suit, provided, however, the Trustee shall be under no duty t.o maintain or enter int.o any litigation unless its expenses, including counsel fees and costs, have been advanced or guaranteed in an amount and in a manner reaBonably satisfactory to the Trustee. The 'l'rust.ee may repay any advances made by it or reimburse itself for any such fees and COGts f.rom any corpus or income of this Trust. ARTICLE IV. TRtTS1' Dl:STRIBUTIONS 4.01. Tl:'u!!~~_!,..;:!!!.~ip!l_~, The ent.ire corpus of this Trust., including t.he assets initially t.ransferred to t.his Trust, subsequent additions t.o this Trust, and the proceeds of any sale, exchange or investment of. such Trust. assets, shall be used for the purposes her'eill contalned, 4.02. .IncoDl~,-Qi~tribution. During the Settlor's lifetime, the Trustee shall di,stribute all of the net. income of the trust to, or for the benefit. of, DONNA B. HACKETT. The Trustee shall make no distributions of principal t.o DONNA B. HACKETT. 4.03. PI.!ng,~~_PJstributions. Upon the death of the Settlor, t.he Trust shall terminate, Upon terminat.ion, t.he remaining trust. estat.e shall be distribut.ed to Settlor's son, DALE L. SLOMAN, per stirpes. If t.he Settlor's son, DALE L. BLUMAN, predeceases t.he t.ermination of this Trust, the remaining trust estate and any accrued income shall be held by t.he Trustee, in further separat.e t.rust, for the benefit of the children of DALE L. BLOMAN. The Trust.ee shall periodically dist.ribute all income of the trust e~lally t.o the children of DALE L. BLUMAN, per capita, in installments as the Trustee deems appropriat.e, but. in no case to exceed one (1) year between installments. Upon ten years from the date of the deat.h of the Set.tlor, the separate trust. shall terminate. Upon termination, the remaining separate t.rust est.ate shall be distributed equally to the children of DALE L. BLUMAN, per stirpes. 4.04. Gener~~_Power.of hupoin!~e~~. Sett.lor's son, DALE L. BLUMAN, is hereby grant.ed the general power to appoint some or all of the principal of t.his Trust to himself, his est.at.e, his credit.ors, the credit.ors of his estate, in such proport.ions and upon such tems (in trust., out.right gifts, or in any ot.her manner) as he deems advisable. This power shall not be exercisable under his Will. If Sett.lor's son fails, either in whole or in part, to exercise this general power of appointment. herein granted, the ullappoint_ed principal shall continue in trust and shall be administered according to the terms of t.his Trust. Upon t.he death, resignation, removal or incapacity of Settlor's son, DALE L. BLOMAN. t.hen PENNSYLVANIA FIDUCIARY AND ESTATE SERVICES. a Pennsylvania corporat.ion, shall exercise t.he general power of appointment under this provision. 3 ARTICLE V. POWERS OF TRUSTEE 5.01. General Powers. In addition to such other powers and duties as may have been granted elsewhere in this Trust, but subject to any limitations contained elsewhere in this Trust, the Trustee shall have the following powers and duties: A. In the management, care and disposition of this Trust, the Trustee shall have the power to do all things and to execute such deeds, instruments, and other documents as may be deemed necessary and pr~per, including the following powers, all of which may be exercised without order of or repor.t to any court: (1) To sell, exchange, or otherwise dispose of any property, real, personal or mixed, wheresoever located, at any time held or acquired hereunder, at public or private sale, for cash or on terms as may be determined by the Trustee, without advertisement, including the right to lease for any term notwithstand:Lng the period of the Trust, and to grant opt.ions, including an option for a period beyond the duration of the Trust. (2) To invest and reinvest. all or any part of t.he Trust Estat.e in any conunon or preferred stocks, shares of investment t.rust.s and investment companies, bonds, debentures, mortgages, deeds of trust, mortgage participations, notes, real estate, or other property the Trustee, in the Trustee's discretion, selects; provided that the Trust.ee may not invest. in any stock or securities issued by the corporat.e Trustee or issued by a parent or affiliate company of such Trustee; in the manner t.hat, under the circumstances then prevailing (specifically including, but not limited to, the general economic conditions and the ant.i.cipated needs of the Trust and its beneficiaries) , persons of skill, prudence, and diligence, acting in a similar capacity and familiar with those matters would use in the conduct of an enterprise of similar character and similar aims, to attain the Settlor's goals under this trust agreement. (3) To retain for investment any property deposited with the Trustee hereunder; except that the Trustee may not retain for investment any stock or securities in the corporate Trustee or in a parent or affiliate company of such Trustee. (4) To vote in person or by proxy any corporate stock or other security and to agree to or take any other action in regard to any reorganization, merger, consolidation, liquidation, bankruptcy or other procedure or proceedings affecting any stock, bond, note or other security held by this Trust. 4 (5) To use lawyers, real estate brokers, accountants and any other agent.s, if such employment is deemed necessary or desirable, and to pay reasonable oompensation for their services. (6) To compromise, set.tle or adjust any claim or demand by or against the Trust and to agree to any rescission or modification of any contact or agreement affecting the Trust. ('/) To renew any indebtedness, as well as to borrow money, and to secure the same by mort.gaging, pledging or conveying any property of the TruFJt, including the power to borrow from the Trust.ee (in the Trust.ee's individual capacity) at a reasonable rate of int.erest.. (8) To retain and carry em any business in which the Trust may acquire any interest, to acquire additional interests in any such businelJs, to agree to the liquidation in kind of any corporation in which the Trust may have any interest. and t.O carry OIl the business thereof, to join with other owners in adopt.ing any form of management for any business or property in which the Trust may have an interest, to become or remain a part.ner, general or limit.ed, in regard to any such business or property and to hold the st.ock or other securities as an investment., and to employ agent.s, and confer on them authority t.o manage and operate the business, property or: corporation, wit.hout liability for the acts of any such agent. of or for any loss, liability or indebtedness of such business if the management is selected or retained wit.h reasonable care, (9) To regist.er any stock, bond or other security in the name of a nominee, without the addition of words indicating t.hat such security is held in a fiduciary capacity, but. accurat.e records shall be maintained showing t.hat. the stock, bond or other securit.y is a trust asset and the Trustee shall be responsible for the acts of the nominee. B. Whenever the Trustee is direct.ed to distribut.e any trust principal in fee simple to a person who is then under twenty-one (21) years of age, t.he Trustee shall be authorized to hold such property in trust. for such person until he becomes t.went.y-one (21) years of age, and in the mei'l.nt.ime shall use such part of t.he income and the principal of the trust as t,he Trust.ee may deem necessary to provide for the proper support and educat.ion of such person in the standard of living to which he has become accustomed. If such person should die before becoming t.wenty-one (21) years of age, the property then remaining in trust shall be distributed to the personal representative of such person's estate. 5 C. In making distributions from the Trust to or for the benefit of any minor or other person under a legal disabil.ity, the Trustee need not require the appointment of a guardian, but shall be authorized to payor deliver the distribution to the custodian of such person, to payor deliver the distribution to such person without the intervention of a guardian, to payor deliver the distribution to the legal guardian of such person if a guardian has alraady been appointed, or to use the distribution for the benefit of such person. D. In the distribution of the Trust and any division int.o separate trusts and shares, the Trustee shall be author.ized to make the distribution and division in money or in kind or in both, regardless of the basis for income tax purposes of any property distributed or divided in kind, and the distribution and division made and the values established by the Trustee shall be binding and conclusive on all persons taking hereunder. The Trustee may in making such distribution or division allot undivided interests in the same property to several trusts or shares. E. If at any time after Settlor's death the total fair market value of the assets of any trust established or to be established hereunder is so small that the corporate Trustee's annual fee for administering the trust would be equal to or less that the minimum annual fee set forth in the Trustee's regularly published fee schedule, then the Trustee in its discretion shall be authorized to terminate such trust or to decide not to establish such trust, and in such event the property then held in or to be distributed to such trust shall be distributed to the persons who are then or would be ent.itled to the income of such trust.. If the amount of income to be received by such persons is to be determined in the discretion of the Trustee, then the Trustee shall distribute the property among such of the persons to whom the Trustee is authorized to distribute income, and in such proportions, as the Tcustee in its discretion shall determine. F. 'l'he Trustee shall be authorized to lend or borrow, including the right to lend to or borrow from the Settlor's estate, at. an adequate rate of interest and with adequate security and upon such terms and conditions as the Trustee shall deem fair and equitable. G. The Trustee shall be authorized to sell or purchase, at the fair market value as determined by the Trustee, any property to or from Settlor's estate, the estate of Settlor's spouse, or any trust created by Settlor or Settlor's spouse during life or by will, even though the same person or corporation may be acting as executor of Settlor's estate or the estate of Settlor's spouse or as trustee of any other such trusts and as the Trustee of this Trust. H. The Trustee shall have discretion to determine whether 6 items should be charged or credited to income or principal or allocated between income and princj,pal as the Trustee may deem equitable and fair undE<r all the circumst.ances, includi.ng the power to amortize or fail to amortize any part or all of any premium or discount, to treat any part or all of the profit resulting from the maturity or sale of any asset, whether purchased at a premi.um or at a discount, as income or principal or apport.ion t.he flame between income and principal, to apportion the sales price of any asset between income and principal, t.o treat any dividend or other distribution on any investment as income or principal OL' to apportion the same between income or principal, to charge any expense against income or principal or apportion the same, and to provide or fail to provide a reasonable rederve against depreciation OI' obsolescence on any asset. subj ect to depreciation or obsolescence, all as the Trustee may reasonably deem equitable and just under all of the circumstances, I. The Trustee is hereby authorized and empowered to purchase any insurance policies, including property or lif~ insurance, as it deems appropriate; and with regard to any insurance purchased by the Trustee or any insurance transferred to the Trustee, the Settlor hereby specifically reserves unto herl:lelf the power and authority to appoint herself or another individual or entity with the exclusive right to make decisions with regard to the appropriateness of the insurance as an investment for the Trust. 5.02. Votincr bv T_rullH. When the authority and power Wider this T!'ust is vested in two (2) or more Trustees or Co- Trustees, the authori ty and powers are to be jointly by the Trustees or Co-Trustees. A majority of the Trustees or Co-Trustees may exercise any authority or power granted under this Trust Agreement or granted by law, and may act on behalf of the Trust. Any attempt by one such Trustee to act for the Trust on other than ministerial acts shall be void. The action of one such Trustee on behalf of the Trust may be (but neect not be) validated by a subsequent ratification of the act by a majority of the Trustees or Co-Trustees. ARTIcr.E VI. SPENDTHRIFT PROVISION 6.01. General Provision. No beneficiary shall have the power to anticipa.te, encumber or transfer his interest. in the Trust Estate in any manner other than by the valid exercise ofa Power of Appointment. No part of the Trust Estate shall be liable for or charged with any debts, contracts, liabilities or torts of a beneficiary or subject to seizure or other process by any creditor of a beneficiary. ARTICLE VII. CONSTRUCTION OF TRUST 7.01. Choice of Law. This Trust shall be administered and 7 \ interpreted in accordance with the laws of the Commonwealth of Pennsylvania. 7.02. -C.2!lt. Unless otherwise stated, all references in this Trust. to section and chapter tlUmbers are to those of the Internal Revenue Code of 1986, as amended, or corresponding provisions of any subsequent federal tax laws applicable to this Trust. 7.03. Q.t.l'!.er T(!.rm.~. Unless the context. otherwise requires, the use of one or more genders in the text includes all other genders, and the use of either the singular or the plural in t.he text includes both the singular and t.he plural. 7.04. Ca];tl;ions. The capt.ions set forth in t.his Agreement at the beginning of the various divisions hereof are for convenience of reference only and shall not be deemed to define or limit the provisions hereof or to affect in any way their construct.ion and application. 7.05. Situs of TqIS.t,. The Trust shall have its legal situs in Cumberland Count.y, Pennsylvania. ARTICLE VIII. COMPENSATION OF TRUSTEE AND APPOINTMENT OF SUCCESSOR TRUSTEE 8.01. Compensation. The Trustee shall receive as its compensation for the services performed hereunder that sum of money which the Trustee normally and cust.omar:Uy charges for performing similar services during t.he time which it perf01:ms these services. 8.02. Jtemovalof,Trusttle. Sett.lor, during Settlor's lifetime may remove the Trustee at any t.ime or times, with or without. cause, upon thir'cy (30) days written not.ice given to the current Trustee. Upon the death of Settlor, a majority of the current. income beneficia.ries may remove the Trust.ee at any time or times, with or without cause, upon thirty (30) days written noti,ce given to the current 'l'rustee. Upon removal of t.he Trustee, a successor Trustee shall be appointed in accordance with t.he terms set. fort.h in Paragraph 8. 03 . 8.03. Successor Trustee. The Tl:ustee may resign at. any time upon thirty (30) days written not.ice given t.o the Settlor: if Settlor is living, or in the event of Settlor's death, upon thirty (30) days written notice given to the current income beneficiary or beneficiaries (including a beneficiary's notural or legal guardian or legal representat.ive), hereunder. Upon the death, resignation, removal or incapacity of the Trustee, PENNSYLVANIA FIDUCIARY AND ESTATE SERVICES, a Pennsylvania corporat.ion, now of 1013 Mumma Road, Suite 202, Lemoyne, Cumberland County, pennsylvania 17043, 8 shall be appointed successor Trustee, Upon the <'Iissolution, r.esignation or removal of PEm'SYLVANIA FIDUCIARY AND ESTATE SERVICES, a Pennsylvania Corporation, a second successor trustee may be appointed by the Settlor during Settlor's lifetime, or, after Settlor's death, by a majority of the current income beneficiaries. Settlor prohibits the appointment of the beneficiary's or beneficiaries' natural or legal guardian or legal represent.ative as Trustee and any attempt to do so shall be without authority under this Agreement. Any successor Trustee sh~ll be a financially sound and competent corporate Trustee. Any successor trustee thus appointed, or, if the Trustee shall merge with or be consolidated with another corporate fiduciary, then such corporate fiduciary, shall succeed to all the duties and to all the powers, including discretionary powers, herein granted to the Trustee. ARTICLE IX. PERPETUITIES CLAUSE 9.01. ,General Provision. Notwithstanding anything to the contrary in this Trust, each disposition I have made here, legal or equitable, to the extent it can be referred in its postponement of becoming a vested interest to a duration measured by some life or lives in being at the time of my death is definitely to vest in interest, although not necessarily in possession, not later that twenty-one (21) years after such lives (and any period of gestat.ion involved); or, to the extent it cannot be referred in any such postponement to such lives, is to so vest not later than twenty-one (21) years from the time of my death. AR~ICLE lL ACQUISITION OF UNITED STATES TREASURY BONDS ELIGIBLE FOR TAX PAYMENT, PAYMENT OF TAXES, FUNERAL EXPENSES, AND E:~PENSES OF ADMINISTRATION 10.01. Acauisi ticn of Bonds. The Trust.ee may, at any time, without the prior approval or direction of the Settlor and whether or not the Settlor is able to manage Settlor's own affairs, acquire United States Treasury Bondt! selling at a discount, which bonds are redeemable at their par value plus accrued interest thereon for the purposes of applying the proceeds to the payment of the United States est.ate tax on the Settlor's estat.e; and the 'frustee may borrow from any lender, including itself, with or without security, to so acquire these bonds. 10.02. ~ent of United States Estate Tax bv Bond RedemDtion. The Settlor directs that any United States Treasury Bonds which may be redeemed at their par value plus accrued interest thereon for the purpose of applying the proceeds to the payment of the United States estate tax imposed on the Settlor's estat.e, and which are held by the Trustee, shall, to the extent of the amount determined to be required for payment of the estate tax, be distributed to the legal representative of the Settlor's estate to be used by the legal representative ahead of any other assets 9 and to the fullest extent. possible to pay the est. ate tax. 10.03. Pavmept of Death Taxes and Other Estate Settleme~ Costs. After the Trust.ee has complied with paragraph 10.02, above, and ascert.ained from the legal representati.ve that all such bonds have been redeemed in payment of the Unit.ed St.at.es estclte t.ax, the Trustee shall also ascert.ai.n from t.he legal representative whether the legal representative hilS suft'ici.ent assets to pay the remaining legacy, succession, inherit.ance, transfer, estate and other death taxes or duties (except. t.he additional estate tax ,imposed by Section 2032 (c), or corresponding provisions of the Internal Revenue Code of 1986 appLicable t.o the S~lttlor' s estate and imposing the tax) levied or assessed against. the Set. tlor' s esl:at.e (including all interest and penalties t.hereon), all of which taxes, intex'8st. and penalties are hereafter referred t.o as the death taxes, interest. and penalties, If the legal representative advises the Trust.ee that insuff icient funds exist to pay all the death t.axes, interest. and penalt.ies, t.he Trust.ee shall then pay t.o the legal representat.ive from the trust property, at! amount equal to all the deat.h t.axes, interest. and penalties in excess of the funds available to t.he legal represent.ati ve for t.his purposes, which payments are to be made without apportionment. _ In making the payments, t.he Trustee shall use only t.hose assetG 0:1' their proceeds which are includable in the Set.t.lor's gross est.ate for purposes of the United Slat.es estate t.ax and shall not. impair the mar'ital portion without. Urst exhausting t.he ent.ire non-marital port.ion. If the Execut.or of the Settlor's estat.e, in such Execut.or's sole discretion, shall determj,ne that appropriate asset.s of Settlor's estate are not. available in sufficient. amount to pay (1) the Set.tlor's funeral expenses, and (2) expenses of arJministering the Settlor's estate, t.he Trust.ee shall, upon t.he request of t.he Execut.or of the Settlor's estat.e, contribute from the principal of the trust estat.e the amount of such deficiency; and in connection with any such action the Trustee shall rely upon t.he written statement of the Executor of t.he Set.tlor's estate as to the validity and correctness of t.he amounts of any such expenses, and shall furnish funds to such Executor so as to enable such Execut.or to discharge the same, or to discharge any part of all thereof itself by making payment. direct.ly t.o t.he person entit.led or claiming t.o be entitled to receive payment t.hereof. No consideration need be required by t.he Trustee from t.he Executor of Settlor's estat.e for any disbursement made by the Trustee pursuant hereto, nor shall there be any obligat.ion upon such Execut.or to repay t.o the Trustee any of the funds disbursed by 1. t. hereunder, and all amounts disbursed by the Trustee pursuant to the aut.hority hereby conferred upon it shall b€, di.sbursed wi.t.hout. any right in or duty upon the Trustee to seek or obtain cont.ribut.ion or reimbursement from any person or property on account of such payment. The Truste8 shall not. be responsible for the application of any funds delivered by it t.o t.he Executor of the Set.tlor's estate pursuant to t.he authorit.y herein grant.ed, nor Shall the 10 15- -I tI~ /() COMMONWEALTH OF PENNSYLVANIA DEPAR'TMENT OF REVENUE S~REAU OF INDIVIDUAL TAXES HltlERITANCE TAl( DIVISION DEllI, 280601 HARRISBURG, PA 1711.8-0601 NOTICE OF INHERITANCE TAW APPRAISEHENT, ALLOWANCE DR DISALLOWANCE OF OF.OUCTIONS AND ASSESSMF.NT OF TAW 08-25-97 HACKETT 03-17-97 21 97-0456 CUMBERLAND 101 [__~~==~~nt R.;!.t~~= J MAKE CHECK PAYABLE AND REMIT PAYMENT TOI REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 CUT ALONG THIS LINE ... RETAIN LOWER PORTION FOR YOUR RECDRDS ...... REV: iS47 - EX -Ai: p - f o:f: 97 Y - NOY i c r -6 F - YNHERY;: ANc E - 'fAx - iI-p PR ii-is E 11 E NT -,- -A i. r6wANc E - iffi'- - - - - - - - - - - - - - - -- DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX DONNA B FILE NO. 21 9l-0456 ACN 101 LOWEll R GATES ESQ GATES & ASSOC 1013 MUMMA RD STE 100 LEMOVNE PA 17043 DATE /!STATE OF DATE OF DEATH FILE NUMBER COUNTY ACN ESTATE OF HACKETT TAW RETURN WAS I (X) ACCEPTEO AS fILED RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN 1. R..l Esht. (Schlldule A) (1) 2. stocks and Bonds l~oh.dul. 8) (2) 3. Closely H.ld stock/Partnership Intor8st (Sohaduln C) (3) 4. Hortgagec/Note. Receivable (Schedul. OJ (4) S. Cash/Bank D.pa~tts/Hitc, Personal Property (Schedule EJ IS) 6. Jointly Owned f'ropady (Schodule fJ (6) 7. Transfers (Schedule GJ (7) 8. Tot~l Assets APPRDVED DEDUCTIONS AND EXF.MPTIONSI 9. Funeral Expenses/Ad"l. CO:ih/Misc. Exp8n,aSl (Sch.dule H) (9) 10. Debts/ModfiiJ.ge U.biliUIlI/Uens (Schedule 1) (10) 11. Toh1 Deduct ions 12. N.t V.lue 01 Tax Return 13. Charit.ble/Government.1 B8qU.S~S (Schedule J) 14. Net Value 01 Est.t. Subject to Tax If an Ilssessment was issued pl'evioully, lines reflect figurel that include the total of ab1 ASSESSMENT OF TAX: 15. Anount 01 Line 14 at Spou.al 16. A~ount of Line 14 taxable at 17. Anount of Line 14 taxable at 18. Principal Tax Due NDTE: ) CMANOEO ,00 ,00 ,OQ .00 23,47 53, 75 37.000,00 (8) 7,970,00 44.00 Ill) 112) (U) 114) (!/ * 1[~.IHI U .,~ tH.l1l DONNA B DATE 08-25-97 NOTE' To insure proper erect! t to your eccount, lubmit the upper portion of thh for", with .\lour tax peYlIIent. 37,057,22 8.014 nO 29,043,22 ,00 29,043,22 14, 15 end/or 16, 17 and 18 will returns asselled to date. rete Lin.el/Cle.. A rete Coll.terel/Cle.. B rate 115)_ 116) 117) TAX CREDITS: F~~;T - cO' RECEIPT NUMBER AA211346 DISCOUNT (+) INTEREST/PEN PAID (-) 87.13 ,00 29,043,22 ,00 W,OO,_ X ,06, X ' IS, 118) ,00 1,742,59 ,00 1.742,59 AMOUNT PAID 1.655,46 B:~;_:_~_E~~;_..}}~D~}tE -~ ~ 742::: ~j INTEREST AND PEN. ,00 ____r.~!AL__~~~___ ______.:E.~__ ( IF TOTAL DUE IS LESS THAll 11, NO PAYMENT IS REQUIRED, 1< TOTAL DUE IS REfLECTED AS A "CRF.OIT" (CR), YOU HAY SF. DUE A REFUNO, SEE RF.VERSE SIDE Of THIS FORM FOR INSTRUCTIONS,) . If PAID AFTER DATE INDICATED, SEE REVERSE fOR CALCULATION Of ADDITIONAL IIlTEREST, \. (") r:; fl f<,,~ Ul -CJ 1-'-.;' -, 0-, RESER~ATIONI Est,t,. of decldent. dyln~ on or before 08o..ber 12, 19a2 ~~ 1f an~ future lntere.t In the I.tftte I. ~ranlf.rr.d In POI...,Jon or enJoy","t to Cl&.. B (collateral) beneficiaries of the decldent aft.r the IMPlratlon of anY vltati for I1f. or for y..r., the Co~~onw..lth hereby expre,slY _r'l.rv,~ th, right to appral.. ~nd al.... trans'.r Inherltanoe Tax.. at the I.~ful Cl~.. B (collot.r.l) rat_ on any luoh future lnt'r.lt. J'lliRPOSE OF NOTICE I To fulfill the require.lntl of SecUon 2140 of th, Inh,r1hmoll and Estllte Tax Act, Aot 21 of 1995. 112 P.S. Section 9140). PAYMENT I Detach the top flortion of thls Notlcll Hnd !IublllH with VOUI' paYIIl,nt to the RIghter of Willi pr1nhd on the r.verlll sid.. ~~Hak. chick or Money order paYllble tOI REGISTER or HILLS, AGENT REFUND (CR)1 " refund of a tall credit, whlch WllS not requeshd on the Tax ~.turn, mn~ be requested by cOlllpleting IIn ""ppllcation for Refund of Pennsylvania Inheritance llnd Estate Tax" fRfV.nLH. Appllcfltions ere 8\1oilllbl. ot the Offic. of tho R"ghterof Wllls, any of the 23 Ravenwil District OHlce~, or by c811Jng thG special 24.hour answering 8IlIrvlce numbers for forllls orderlngl Tn Ponnsylvan\a 1-800-362-2050, outsIde Penn'!;:r'lvrmil'l and withJn local tlarrJsburg arn (717) 781.8094, TODM C1171 17l-225Z Olear in" tlllpalrM OnlY), OBJECTIONS I AllY party In Inhlrost not sotlsflod ",lth tho npprllls"nlel\t. nllowance or alsa11owanCl'l of deductions, or alSu....nt of tal( (Includinll discount or lntorestJ BIl shown on this Notlcn must objoct within sl)(t'l (60) day, ofrec_lpt of this Notice bYI nwrittan protollt to the PA Dopartllumt of Reven\le, Boord of Appenls. Dopt. 281021, tlllrrlsburg, PA 171Z6~1021, OR -~ehctlon to halloll the matter datel'lldnod nt sudlt of tho 6ccount of tho personlll r8pr*senhtJve, OR --appeal to the Orphans' Court. ADMIN tSTRATIIIE CORRECTIONS I Factusl orrorll diseov'ired on thIS asseS$lIlent should lie adtlressod In writing tOI PA O.p~rtllont of Rlvanue, !IurlUlU of IndlvluuBJ h1l18S, ATTN: Post AIlIHUUe"t Rllvlew unItI Dept. 2&0601, Ilarrlsbury, PA 11128-0601 Phone (17) 787"6S05, SOil P"gg 5 of the booklet "Instl.uctlons for InhlrItance TalC Return for a ResIdant neopdel\ttt (REV 1501) for (In olCpl(lnat!cm of Ildllllnllltratlvely oorr'lctable e,.rors, DISCOUpr.:TI If any tax due Is plllju Idthln thrr.lo (3) cnlondflr months after the decedent's dQath, a fivCl percent (S:'D discount O'f the tQX paid IB allowed. PENAL tV: The 15% taM alllne't... nonnparticlpntJon penalty lit COlllputed on the tot'!!l of th!". tIIx -and Interut a:aeued, and not patd before Januar... 18, 11)96, the first day Mhr thu Gnd of HIli! tllx ollnuty perlQd. Th1l non.pertJclpaUon penalty 15 8pPelllllblfl In the UUIIl 'Ulnner l'l~d In the tha SlUlle tJIII8 pClrlod as YOU would eppeal the talC and Interest that has bun !lSsused a. Indlc6tod on thts notlc" INTEREST I Inter..t II r.:tHlrged belllnnlnll with first dn,! of delinquency, or nlrie (I)) 1II0nths Bnd ono (1) day froll the date of duth! to the dat~ of pnYlllollt. TlIxlIfI which bflC:8l11e deUnquont before January I, 1982 b".r Interut at the rate of _Jll (6%) percent per llflnUIII cnlculllled lit II dollllly fllhl of .000164, All taxClv whloh bucallle deUnquent on and _Ullr January 1, 1962 will bur Interest at n rolllto wtllch will lI11ry frolll cnhnd~r yellf to cnlander y8ftr with that rllt. llnnnuncwd by the PA Departlllent 0/ Revenue. The upplloablu IntCIrest ratQl for 19111' through 1997 lire I 't.!!! Int.rut Rnte ~,Q!!!.!.!.LL!!S.l!!!: !!!! lnt.rut Rata Dally Int.rut factor 1982 20% .000548 19&7 9% ,000247 1983 16% .OO04~" 19811-11)91 11% .000301 1984 11% .000301 1991 9% .000241" 1985 13% .00('l.lS6 1993-\994 1% .000192 19116 10;: ,000274 1995-1997 9% .00Gl41 ..tntQrut 11 calculated OJ followlI INTEREst = BALANCE or TAX UNPAID X NunBER or DAYS DELINQUENT X BAILY INTEREST rACTDR .'Any No\loll Isr,u8d aftur the tal( bll'colll" del1nquent w111 reflect an Interu1 calculatIon to flfto.n (1S) d'!llfl bllYand the date of tho llBlltSUarlt. If pftY1ll8nt Is Mde aftor the Interut cOIIIPutatlon d"t. shown on the NotJc~1 ndditlanal Interelt Must bo calculated,