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Home My WebLink About97-00998 E,!tate of _..;1 o_Beph .~~__.g-'?J ilIU A R(~....._.__ also kllowlI as __......._____._._...._._.____..__.... PETITION .'OR PROBATE and GRANT ()J<' LETTERS No, . _D21:/:-l]..=.1..q~__ To: ___.__......__........._~.___.__.H ._.____ Register of WIII:i:,for ihe _................______, D('ccas"", County of C..lJln_~r:-'~!l.<:!..._.._ in the Sodal Secllrity No, 072 -1 B_':.:iU.~____..H_. Commonwealth of I'ennsylvaula The petition of the undersigned respectfully represents that: Your petitloner(s), who Is/ure 18 yeurs of age or older un the ex(:cutL;LK..._._......___.~.___ named In the last will of the ahove decedent, dated ..---S..e.~lembaL.9.._________. , 19J11L- and codlcll(s) dutcd .Nl1L_.______.._______________._____.______.._.______.____...-.- -----_.._..._._-_..._-.--~~.-----_.__._--~~~_._--'_.---. (Slate relevllllt drCllnlSlllllCCS. e.g. rClltlndathm, death or C'(CClIllH, CIC,) Decendent was domiciled at death in.. Cum be r 1. an.c!.______._ County, Pennsylvania, with tLia__last family or principal residence at 505 WoodereR t Dr.ive. Hampden . TQliIlship.L..M.e.Qllillli""hlll'~. 1'.11. 17055 (list meet, number llnd nlulldpalilY) Decendent, then ......7.L__ years of age, died Noyember 30 , ., 19--9.2_. al.-.;)05 Wooucr(;J-,5..LJ2~.. Hampden Town Ah i p... M""hi'1!L-Lc.sblu:g.,......PA Except as follows, decedent did not marry. was not divorced and did not have a child born or adopted after execution of the will off"red for prohate; was not the victim of a killing and was never adjudicated , NJA Incompetent: _LJ____ Decendent at death owned property with estimated values as follows: (If domiciled in Pa.) All personal properlY (If not domiciled in Pa.) Personal properlY in Pennsylvania (If not domiciled in Pa.) Personal property in County Value of real estate in Pennsylvania situated as follows: ....JiQDsL. $ 500.000 $-------- $ $ WHEREFORE, petitioner(s) respectfully request(s) the probate of the last will and codicll(s) presented herewith and the grant of lellers teAtqmentarv (lcslnm'~ntarYllldl1\inislralion ":,La.: administration d,b,n,C,l,Q,) theron. t -0_ 'fi~ ct~ "I:I,g ~." ~~ Ti~ :io ~ ., lii ..L;u.. l/l~/iLLu1'" LOU1Se H. Cofarusso 505 Woodurest Drive Mechan~ahur~ PA 170~S OA 1'" OF PERSONAL REPRESENTATIVE COMMONWFALTH 011 PENNsnv ANIA I ss COUNTY OF _t::.YmD~:L~Il9-_ J . The petltlone,(s) above-named swear(s) or affirm(s) that the statements In the foregoing petition arc true and co..re.Jt 10 the hesl of the knowledge and belief of petilioner(s) nnd that as personal represen. lative(s) of th.., above decedentl'elitioner(s) will well,~I~d truly adlll~er ~\'e estate according to law. Sworn to (;r affi~J1~dcl.and subscribed ~<,/(I."-:I '. C;.,< /ct.5,.LI.,! -<C,./) S::1 before.llle IhlS .__ ___...___.__, day of { :r::.c:>U1S~..!:I.:__.S:01.aruRso ..;, \. J?eeemb~rr_..__._~ J9.~ ..__.._~_ ~ 1))n.J '2.)iWJ!j,___I'.I.d',~1 !'l'~L.~ _._.____..._________ - ~ ir ILl "('" '(f ReRiMer . ---.~----------.-.- ~ \e,- ;,)\1\- \;P 21-97-998 TIll'. h to ~('rlih' dIll! Iht' 1111111111,1111\11 lWli' !"I\"l'11 1<. llllll'l-lh l ('flirt! !llllll ,III 11Iil',1II,d {t'lldil,lIr (11,k,1l11 did, Ilk..! \\1111 IlIt' ,I', Im"I l{q',htl,IL Till' lIdV,lt\;d lTllilil';l((' will I'l' lplw.u-ikd III till' \Lllt' \'H,d Ji.t"llId'. ()lli\l' Itll PI'IIILI1\t'1l1 liltllj', tv,...."'", ~ '....""."T IL"CltlHlt ~ 1 'J .' ,) .) " ,1 " l~) ~. ~'l ,I n I ~ 1 WARNING: Ills IlIogal to dupllcato Ihls copy by pltolOSlrIlllf' pltologrnplt, h.'t, IIlI lhl~ 1('llilh illt', ',~.'.,O(i 'j';;P;';""'''''''/ .""",t\o.\l\\ Of/'E4::':'", '~i;'i~_' ~' J~\ -,',' . :"'1 ~! '.-:- (l~."".",(:, ,.,~:f~i ~ ~\ - _-4~\' \ ~.. '_\;:0,,1' '\ rf~- ~'t~\" .:".t~.[! 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( II 'II", I ..4' "~__._..~._ ~--i'iir(;:iiHilM.';;..i>.;.;;;,--- "lIOMUIIttCiMOANlI<:.1I1lf11Mll'..V.lCIAN,I'j".......,,,.,.,.,.,"",.'.'d.II.m',."F,."'I""...'.....,,"....'" ,.""'_....f~...~'.........III'...""'.__,."..ho/,."..'""4"41<>1~...WI~(.1..'"0""""'.' 11"", .\',-,,-l~. C'-._ ....DIC"~UA...N'fIICVl'lOH'1I On III. ...114 '" ...",I"e/IO" .n4iGlI"'Un,,'lIon, I" "If oplnl..>n, ~..III o<<wll.d I' '''.lIm.. "~I.. 'nl/,,'I~', "od lIW.IO ,,,. ~tu"l'l.nd 11I./11'1.'"''.''' ., .," .,. .,., ,.- ." ,. . ,." . ,. .,. ." -Rfd~-ii~ji i iiONAfi/ilriND iiul.lii(-j\;---.".'" .---- -II '-JI n !.!. _1\4JU.....i.-IL~~,_.. '111.L'-L.t..u 14. .,I.. &-ntAl'" l,\_..... ~I! ,:\11 IAI._ ."J?('~~iI!~"-'-~.411l'2..-..-----~ . . ~~~L AND TESTAMENT OF JOS E!lli...fu..~SSO I, JOSEPH R. COLARUSSO, of 505 Wooderest Drive, Hampden Township, Cumberland County, pennsylvania, do hereby make this my Last Will and Testament, revoking any former Wills and codieils made by me. references to my wife in this Will are to her. I have four chil- ElRST: I am married to Louise H. ColarusSO, and all dren: Thomas H. Colarusso, Miehael J. ColarusSO, John P. Colarusso, and Susan M Colarusso. These and any other children . born to or adopted by my wife and me are de.seribed in this Wlll as "my children." 5ECOND: I give my tangible personal property and all casualty insuranee that I am earrying on said tangible personal property, to my wife, Louise H. ColarusSO, or, if she does not survive me, I give said property to sueh of my childr.en who are living at my death to be divided equitably among or between them as they may determine, or, if they are unable to agree, as my Executor shall determine, after eonsidering the wishes of such children. I have complete confidence that my wife, my children or my Executor will honor any written instruetions that I may leave with regard to said tangible personal property. Any sueh ""~? 7? ) ~. /--IlL " I)A:d/>UJ..L..f -1- / , . I property not so d.1stributed shall be sold, and the prooeeds added to my residuary estate to pass as hereafter desoribed. THIRD: If my wife, Louise H. Colarusso, shall survive me, I bequeath to my Trustee, hereinafter named, IN TRUST NEVERTHELESS, oash, seourities or other property in the amount speoified below, to be known as the "Bypass Trust." (1) The bequest shall be $600,000, subjeot however, to sUbparagraphs (2) and (3) below. (2) The bequest shall inerease or decrease, based upon the availability of my federal unified credit for estate and gift taxes, whether dUe to statutory Changes, lifetime gifts in exeess of the federal unified estate and gift tax exemption-equivalent amounts, or any other transfer which affects the availability of my federal unified credit aforesaid. (3) The bequest shall decrease, if necessary, to redUce federal estate tax payable as a result of my death to zero (eXClUding, however, any federal estate tax due as a result of eXcess retirement accumulation under Section 4981A of the . Internal Revenue Code of 1986, as amended, or such similar section as may then be in effeet), considering that my intention is to fUnd the Bypass Trust by using my available federal unified credit for estate and gift taxes and by Using the federal estate tax unlimited marital deduction to eliminate federal estate tax on the balance of my taxable estate. _2_1~rU'J ,J lQURTHI I give, devise and bequeath the rest, residue and remaindel: of my estate, real and personal, to my wife. Should she not survive me, I give, devise and bequeath sueh rest, residue and remainder to my Trustee, hereinafter named, IN TRUST NEVERTHELESS, to be held, administered and distributed for all purposes as part of the Bypass 'frust. FIFTH: The Bypass Trust shall be held, administered and distributed as follows: (1) commencing with the date of my death, my Trustee shall pay to or apply for the benef it of anyone or more of my said wife, my children and my issue, until division into shares pursuant to Paragraph (5), all of the net income from the Bypass Trust in eonvenient installments in sueh shares and proportions as my Trustee in its sole discretion shall determine primarily for the medical care, education, support and maintenanee in reasonable comfort of my said wife, ehildren and issue, taking into consideration to the extent my Trustee deems advisable, any other income or resources of my said wife, ehildren and issue known to my Trustee, eonsidering that my wife is the primary object. of my bounty, and that my children are the secondary objects of my bounty. (2) prior to division into shares pursuant to Para- graph (5), my Trustee may pay to or apply for the benefit of any one or more of my said. wife, ehildren and issue such sums from -3- 1--tJ.~L.~H~1 t.-~ the prinoipal of the Bypass Trust in suoh shares and proportions as in its sole disoretion shall be neoessary or advisable from time to time for the medioal care, eduoation, support and maintenanoe in reasonable comfort of my said wife, children and issue, taking into consideration to the extent my Trustee deems advisable, any other ineome or resources of my said wife, ohildren and issue known to my Trustee, considering that my wife is the primary object of my bounty, and that my ehildren are the secondary objeets of my hounty. Any payment or application of benefits for a child or issue of mine pursuant to this Paragraph shall be charged against this Trust as a whole rather than against the ultimate distributive share of a beneficiary to whom or for whose benefit the payment is made. (3) In addition to the inoome and discretionary payments of prineipal from this Trust, there shall be paid to my said wife during her lifetime from the principal of this Trust upon her written request at any time during each fiscal year of the Trust an amount not to exceed during such fiscal year the amount of Five Thousand Dollars ($5,000) or five percent (5%) of the aggregate value of the principal of the Bypass Trust on the last day of such fiscal year without reduction for the principal payment for such fiscal year, whichever is greater. This right of withdrawal is noncumulative, so that if my said wife does not withdraw, during such fiscal year, the full amount to which she '/ ~LM ~7 t4&ti/-t.3-d/ // "'4- ..-"'" is entitled under this paragr.aph, her right to withdraw. the amount not withdrawn shall lapse at the end of that fiscal year. (4) My wife shall have a special power to appoint all or any portion of the Bypass Trust during her lifetime by written dooument, delivered to my Trustee, referring expressly to this Article, or by will, validly exeouted and attested referring expressly to this Article, among such other person or persons hereinafter named or deseribed absolutely or in trust, as she may indicate. This special power of appointment is exercisable only in favor of a child of mine as deseribed in this Will or to the issue of any sueh child. My aforesaid wife shall have no power to appoint the principal of this fund or ineome accumulated thereon to herself, her estate, to her creditors, or to the creditors of her estate. My Trustee may rely upon an attested Will probated in any state, if executed in aecordance with Pennsylvania formality and otherwise meeting the requirement of this Paragraph. (5) In default of the exercise of such power of appointment by my said wife, or insofar as any part of the Bypass Trust shall not be effectively appointed, then upon the death of my said wife, the entire remaining principal of the Bypass Trust, or the part of such trust not effeetively appointed shall be divided into equal separate shares so as to provide one (1) share for each then-living child of mine and one (1) share for each ;,?r .011 (,;/..u/ -5- deoeased ohild of mine who shall leave issue then living. The share provided for a living child of mine shall be distributed to such ohild. The share provided for a deceased child of mine who shall leave issue then living shall be distributed per stirpes to . such issue. (6) If at the time of IDY death, or at any later time prior to final distribution hereunder, my said wife and all my issue are deceased and no other disposition of the property is directed by this Trust, then and in that event the then-remaining property of this Trust, together with any undistributed income, shall be divided and paid over and distributed to those persons then living who would then be my heirs, their identities and respective shares to be determined in accordance with the law then in effect in the Commonwealth of Pennsylvania, as if I had then died intestate. ~B: If any share hereunder becomes distributable to a beneficiary, other than a child of mine, who has not attained the age of twenty-five (25) years, then such share shall immediately vest in such beneficiary, but notwithstanding the provisions herein, my Trustee shall retain possession of such share in trust for such benefioiary until such beneficiary attains the age of twenty-five (25) years, using so much of the net income and principal of such share as my Trustee deems necessary to provide for the proper medical care, education, support and maintenance 1 ~~ -6- . in reasonable comfort of suoh benefioiary, taking into oonsidera- tion to the extent my Trustee deems advisable any other income or resouroes of sueh beneficiary or his or her parents known to my Trustee. Any ineome not so paid or applied shall be accumulated and added to principal. Such beneficiary's share shall be paid over and distributed to such beneficiary upon attaining the age of twenty-five (25) years, or if he or she shall sooner die, to his or her executors or administrators. I reeommend that my Trustee consider distributing all income from such share to such beneficiary upon such beneficiary attaining the age of twenty-one (21) years. My Trustee shall have with respect to each share so retained all the powers and diseretions had with ~espect to the trusts created herein generally. SEVENTH: Anything in this Will to the eontrary notwith- standing, no trust created herein shall continue beyond twenty- one (21) years after the deaths of one, the last to die of my issue living at the time of my death; and two, all issue of the indJ.vidual serving as President of the united States at my death and all issue of said indJ.vidua1's five (5) immediate predeces- sors in said office; upon the expiration of such period, all trusts shall terminate and all the assets thereof shall be distributed to those beneficJ.aries (and in the same proportions) as are then entitled to receive the income therefrom. -7- EJGHTH: If any beneficiary and I should die under such circumstances as would render it doubtful whether the beneficiary or I died first, then it shall be conclusively presumed for the purposes of this my Will that said beneficiary predeceased me; provided, however, that if my wife shall die with me as afore- said, I direct that my wife shall be conclusively presumed to have survived me. NINTH: (1) I name my wife, Louise H. Colarusso, as my Executrix. If my wife is unable or' unwIlling to serve, I name my son, Michael J. colarusso, as my Executor. If my son is unable or unwilling to serve, I name my daughter, Susan M. colarusso, as my Executrix. I direct that my Executor, herein referred to as my Exeeutor regardless of number or gender, shall serve without bond in any jurisdietion in whieh called upon to aet. (2) I name my son, Miehael J. colarusso, and Hamilton Bank, 3516 Market street, camp Hill, Cumberland county, pennsyl- vania, as my Co-Trustees. If my son, Michael J. Colarusso, is unable or unwilling to serve, I name my son, Thomas H. Colarusso, as alternate Co-Trustee. If neither of my sons is able or willing to serve as Co-Trustee, Hamilton Bank shall serve alone. I direct. that my Co-Trustees, herein referred to as my Trustee regardless of number or gender, serve without bond in any jurisdiction in which called upon to act. ~4.~" '~.L -8- (3) Exoept as otherwise provided herein, if my wife, my son, Miehael J. colarusso, my son, Thomas H. Colarusso, and .my daughter, susan M. colarusso, or any suceessor as herein defined should fail to qualifY as fidueiary hereunder, or for any reason should oease to aet in sueh oapaeity, the successor or substitute fidueiary shall be some bank or trust company with trust powers, whioh suecessor or substitute fidueiary shall be designated in a written instrument filed with the eourt having jurisdiction over the probate of my estate and signed by my wife or if she fails to act, signed by or on behalf of all of my children, or if they fail to act, by the court having jurisdietion over the Trust. The situs of the Trust may be transferred to the situs of such suecessor or supstitute Trustee by designation in the written instrument aforesaid. (4) For serviees as Exeeutor and Trustee, my Executor and Trustee shall reeeive reasonable compensation. (5) I direet that the situs of all trusts created herein shall be Cumberland County, pennsylvania, provided, however, that a majority of the beneficiaries of sueh trusts, who have attained the age of majority, may request my Trustee to transfer the situs of any trust created herein. TIWTH: (1) I give to any Executor and to any Trustee named in this Will or any Codicil hereto or to any successor or substitute Exeoutor or Trustee all of the powers now applicable J i~1!%,L4"'.J -9-' . by law to fiduoiaries in the Commonwealth of Pennsylvania and in particular through the Pennsylvania Probate, Estates and Fidu- ciaries Code, as effeetive and as in effect on the date hereof, during the administration and until the completion of the distribution of my estate, and until the termination of all trusts created in this Will or any Codicil hereto and until the completion of the distribution of the assets of suoh trusts. (2) My Exeeutor shall have absolute discretion, but shall not be required, to make adjustments in the rights of any beneficiaries, or among the principal and income aeeounts to compensate for the consequences of any tax decision or eleetion, or of any investment or administrative deeision, that my Executor believes has had the effect, directly or indirectly, of prefer- ring one beneficiary or group of beneficiaries over others. In determining the federal estate and ineome tax liabilities of my estate, my Exeeutor shall have discretion to select the valua.tion date and to determine whether any or all of the allowable administration expenses in my estate shall be used as federal estate tax deductions or as federal ineome tax deductions and shall have the discretion to file a joint income tax return with my wife. (3) If at any time any trust created hereunder (or any share thereof if the trust shall have been divided into shares) shall be of such value that, in the opinion of my Trustee, the administration expense of holding the assets contained therein in trust is not justified, my Trustee, in its absolute discretion, may terminate such trust and distribute the trust property to the person or persons then entitled to reeeive or have the benefit of the ineome therefrom or the legal representative of such person. If there is more than one ineome beneficiary, my Trustee shall make such distribution to sueh income beneficiaries in the proportion in which they are benefieiaries or if no proportion is designated in equal shares to sueh benefieiaries. (4) If there be any property located outside the Commonwealth of Pennsylvania, in which I may have an interest at the time of my death, which cannot be eonveniently administered as provided herein, then I authorize, but do not require, my Executor to appoint a bank or trust company with trust powers, to administer such property aeeording to the terms of this Will. (5) My Executor and Trustee are authorized and empowered to retain, either permanently or for such period of time as my Executor or Trustee may determine, any assets, including the eapital stoek of any closely held corporation, which at any time shall come into the possession of my Executor and Trustee as a part of any trust created herein, whether sueh assets are or are not of the eharaeter approved or authorized by law for investment by fiduciaries and whether such assets do or do not represent an overconcentration in one investment. <'---f) r- .:.:. t~ f}(6i~U<J" J -11- / ~.... .J <l. IQ 1- ~ &. <l> 1> ~ " 0 o <l> ~ ..6 ,,~ ~ <I> I;, 0 c (jl ~ ~~ 1.","'"6 e If. ~ It 0 f.. ~ \:-' a,,",i -.. ~~ <II ~ 0 S m t\.,\ tl 1:-' tJ o :. ~ '& t~ . 04. tL -:I t~ P ~ ~a\ll III ~ 000.. '!) .C! ;0 $N~~ ~ ~ P< ~1- "- ~ 0:. -;'1- (jl \U .. 0 \>. 1- ~ ,., \U \:-' ~ ~ ;1 \ \ . ' .' .{ I" I ) / I - l l 'I'''? ji.. . " )l<OIG~lllltll'l'~ .\~,~ I 1\~1l~\\'~ 01''\01'"'' Eatate Inventory (Continued) 9heckinq/savings Ae92unts Barnett Bank N. A., certifieate of Deposit 110034885717 $ 1.206,30 1040 'Interest to date of death Barnett Bank N. A" certifieate of Deposit 110034928298 1,500.00 4,28 Interest to date of death CoreStates Bank Cheeking aecount 1161488723 2.581.11 CoreStates Bank, IRA 119513293919348034, Louise H. Colarusso was the primary benefieiary. However, the Estate of Joseph R. ColaruSso reeeived this item by operation of the Diselaimer of Louise H. Colarusso, dated August 26, 1998, by which she renouneed this IRA certificate of Deposit. Interest to date of death CoreStates Bank, IRA 119513293919348042, Louise H. ColarusSO was the primary benefieiary. However, the Estate of Joseph R. colarusSO received this item by operation of the Disclaimer of Louise H. ColarusSO. dated August 26, 1998, by which she renouneed this IRA certificate of Deposit. Interest to date of death 74.421.81 257.36 Mellon Bank, Interest ehecking aceount 1I1l2-109-0458 19.289.29 4.43 Interest to date of death Page 4 t._ f0JUll . At.l&OOE."..11.911 I" rJ J I (} -' /7 -----_.._-_.~~.- OFf/tOtAl, USE ONl v REV-1500 --------~--,..----_._,. COMMONW,^ClHO' PENNSV\.VAN'A INHERITANCE TAX RETURN FI~E1NuMaER 0EP"'1~~~.',~~.~\VENU" RESIDENT DECEDENT .--'--- .J.2J2-- .O~.'l~___ _, 1~;.7,~~; :iH;~:':;,"" .""""""'",,,,;,..... ...;;;;;..;;~.",._"___'e.." .00. "" ~:,~~ ~ ~ cfo;,~~.~F.~~.~';VN~~~~~h R. OA'. 0' o,Ai;.;---------------oATEOfEiiRr,:;----.--- ...-' D r ...J!1.2-18-3BS6 1l.L30ill____.~. 0'1/02/25 . --.. ------ NE r-llF APPLICABLE) SUfWI'VINO 9POUSE'$ NAME (LAST. sOmAL SECURITY NlIMt-JEA I THISI\ETURN WUfll BE FN I!D IHOUPLICAlI Willi fHE , ~IFHH, AND MIC10Ui INITIAL) . __T_~'l,~~~~9~1~1~~; ;:~:~a rUB~~823-;;';;"""~ :.~;}i.:. 8 7 ~:'...---.. - --. --'-cr.B~~,l~~!.I ~;';.~i~~~:~,'i"j "..; ---- C '" ~ ~ ~ "mll.d E"'" "" ",,,,,.,...,, CnmplOm".ld.,eul d."" ,II.. ". ",,,, 0 5, F.d.." .",,, ,,, nil,,,,, """''''' ~ ~ I 0 .1. 6 0,,"0,01 Died ,.."" 7, O."d.., "".Ie,.,d. L'''', ",," Q..- 8 To,,, N,m'" ,'SO" 0"",,"10'" C R "'T CK \ (AtI'Ch eopvot Willi (AII.en coPVo1 Trulll KO C" [J 0 ~s J 9 Lltlg.lllOnProcudl R.c.l....d 10 SpoUI.1 POV.IIV Gredlt 11 EI.cl!on to !.. und.r StC J' ':lIA) _~. (daltol dtll.lhb.l-N..n 1;?31.g1.nd l.l.9~). ~ (""acn SehQl.______~ .~------- ..w,S ~~11ON. MUST.lIE Cot!\.fbET.!!O "'LL CORRI!SP<HlENCE & C~F1DENTI"'L TAX INFO~MATICIN SHOULD eE .D.IR_Ec::!1.D_I2c- p I ~AME COMPLETE MAIl.ING ADDRESS ~ 2 \._R9.P-e2:li_1L- ch\l':.c,h.,__.!':.~_________'__'_ P .0, Box 11.96 J R 1.2 . """NA".IIIAO.""'''' Harri9hurg, Ph 1'7108-1963 ~ N l_~t".L..\'IQQ(:L All_~'l...LR~.h~LP T I rEl..EPHONE NlJM8ER :"-:;==1- LlJ...'7 \. 2)iS;.~- --=--:- -==~ I t Real Estate (Schedule A) \ 2. SlackS and Bond. (Schedule BI 3. Clo.ely Held Corporation, PartnershiP or I Sole. Proprietorship ~. Mortgage. & Notes Rece,vable (Schedule D) 5. Ca.h, eank DepoSits & Mi.ceUaneou. Personal Property (Schedule E) 6. JOln\1y Owned Property (Scl,edule F) (6) 7. Inter. Vivos Translers & MlsceUaneous Non. Probate Properl'{ (7) (Schedule Q or LI 8. Total Gross ",..ets (total Lines 1.7) 9. Funeral E,pense. & Adminls'atlve Costs (Schedule HI (g) 10, Debts of Decedont Mortg'ge liabilities, & Liens (Schedule I) (10) 11. Total Oeductlons (total Lines g & 10) 12. Net Vllue of estate (L,ne 6 minus Line 11) \ 13. Ch.lltable and Governmentalllequest./Sec 9113 Trust. lor whiCh an election to la, has not been made (Schedule J) , -nl~. Net Vllue Subject to Tu (Line 12 minUS Line 13) C 15 Amount DIUne 14 tallable at o M the spousal taM. rate T ~ See IflSll'uctions on page 2 for applicable percentage ~ I 16. Amount of line 14 taKable at 6% rate ___~o.,.Q.2Q.,..7-5.. X 06 (16) 3!i ' 4 B 5 . i~ T I 17 Amount 01 line 14 taKable at 15% rate ________.Jl..cQ.O~ X 15 (17)_ .Q...!l.O b i 18 T~?ue~_. __ ________--'] (18)__._.___..!2.d!?.d.4 _____N.._L.!LL....Ll.Qi!'!~!lERJUF...'!Q!i~!lF. .flEOlJEST1N..~~!:UNR.~_~~VM~! -'-'---' ------- ____.._...._____.__~.!!!!.~R.~!.QffiSWF'-R "'LL_~ESTION!i~ P"'P~L~lUP R~CHF.CK ~E!:L~._._-..--- Under p'l1alllll of oer iury, I dlClare thd.t I havI ,..mlntd 'hil (Iturn, Including .ccompanYIr>g 'lr:hedUIIS ^r>r1 ital"flll'tnls, .\nd 1011"11 b,'1 ot my ~nowlldge and bell'!. " IS IruI, correct and comOI,II, Dlclaralion of tlrep.arer 011"11' than thl p"lonal rl'tprl~.nl'1IIYe I,buad on JII inlormahon ~ w'hlch pflpas'l has Jny Itnc:.Wlldgl, SIONATUflF. OF ilERSQN RESPONS1BLt: FOR FILING RETURN ADDRESS ../. 7/ ~ ' ~~.~~:?~_.H., .c.C?~~.r:~~:o.O '. . E?~~~!lt~. ~;( ... - . - - . 4(.i-U.J-t-'-1../C/L-I~.~-<..fl.ol.O______..._________.._.__.__..___.__.---- ~jj()NAn.J~ OF,..?AEPARER,on-lER THAN REPRESENTATIVE .iOORUS ""'h h r-. ')ATF . )) I ( l-<OtJert R.. 1_. urc r l:.sq. . / // P..!),B<<,,1196J. ~ J _1) D") U~~lk:: Harrisbu.f.3.I__}A."7~iJ.:.~'J!cl-_-------.- !:...-..?L.,___~ g coov","'IO' 'a.' 'Olm '011.". "IV c"v,,,m.. In, 'olm REV- 1!1OO EX ,n" ,.,," OF~ICIAL use ONLY (1) (2) (3)___ 462,333.42 '17.30 R E C '" P I T U L '" T I o N (~) (5)____2.~, 963,10 1,J,Th1J8,00 J (8) 1,~19,671,B2 34,634.33 907.08 (11) . 35. 541.d} (12L__......L264, 130,41 (13) .0.09 (1~) 1,584,130,41 976,039.66 X 0'.00_ (15) _...Q.,Jl.9 JATE ) _ ,;fl.~: Vi> _.._--~-- <' 'f""\ "t. If) rJ.: '0 m t-n ~:e, CO N ~ '~ .. ._U H ' t'l (I:; ~ ,-:... .- ~1I .' il.>CC 'Ij cr.: , "j D cedent'. ComDlete Addres.: STREET ADDRESS 505 Woodcrest Drive CITV Mechani,,-sburC! '1 STA:~ ~~055 ---. Tax Payments and Credits: 1. Tax Duo (pago 1 Uno 18) 2. Crodlll/Pa,."onll A, Spousal PO'"rty Crodn B. PrIOr Pa,."ln!> C. Dlscounl (1) 36 ,,85.,..1:1 0.00 30,402..&0 1,600.00 Total Crodlll ( A + B + C) (2) 32,000.00 3, Interlll/Penalty II appllcabl. D.lnterlll E.Plnalty 0,00 0,00 Totallnll,oWPlnalty ( 0 + E) (3) 4. IIl1no 21s gtlallr than Ilnl 1 + IIno J, Inll, tho dlll.renc.. This 15th. OVERPAVMENT. ChIck boll on Pago 1 L1n. 19 to requllt a ,efund (4) 5, IIl1n. 1 + line 3 ,s gre.II' Ihan line 2, enter the difference. This IS the TAlC DUE. (5) A. Enllr the Interost on the lax due. (!lA) B, Enllr thl \tItal of Linl 5 + !lA. Thl. Is Ih. BA~E DUE. (58) Make Check Payabll to, REGISTER OF WillS, AGENT __ 0,00 4,465,H 0,00 ~5.H PLEASE ANSWER THE FOllOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Old decedent make a uan.fer and: .. r~tlin the use or Income of the property transferred; b, rotaln the right to d..lgnate who shall u.e the prop.rty uansle"ed 0' ,ts income, . c, retain a reversionary interest; or d, reeolv. the p,oml.. for life of olther paymentl, bonolltl or care'l 2, If doa'" oeeu"od on or bofore Deeomber 12, 1982, did docedent within two yea.. preceding doa'" uansfer property wl1houl receiving adoquall conslderabon? II dea'" occurred after December 12, 1982, dId decedent transfer property within one vear of death without receiving adequate conSideration? 3. Old decedent own an "in trust for" or payable upon dlath bank account Of security at his 01 her doa"'? 4. Old the decedent own an IndiVidual retirement account, annUIty, or other non. probate propeny? ~ ~~~ X '( ~ o GJ @ Ej IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FilE IT AS PART OF THE RETURN 72 PS SeCl10n 91161a) 11.1) Ii) providod fo, tho 'eduction 01 the tax rate imposed on the n.t value of uan.fers to or fa, the use ollhe .urvIVlng 'pause from 6% to 3% for dates 01 death 011 01 after July 1, 1994 and befOlo Jlnuary " 1995 72 P S Section 9116 10) (1 I) III) provided for the reduction ollhe rate ,mpo.ed on the not valu. 01 un.fers to or lor the use 01 the su,vlv,n9 spouse from 3% to 0% for dates of death on or after January 1, 1995, The statuto does not exemDt a transler to a survjvlng ~pOU!ifl from tax, and the statulory requirements lor disclosure of cUi.lts and filing a tal( return lire still applicable even If the survIving spouse is the only benefiCiary FOR DATES OF DEATH ON OR AFTER JANUARY I, 1M - Please answerlt1e followln9 quesbon by plaCing an',' in Ihe approp"llI .pac.. Old the deeedlnt creale a Irult or ,'mllar arrangemlnt which Is .ol.,y for the surviving spouse', benefit for hi. or her onllre lifetime? V.. 0 No El If you answered yes to the above question, the tax on the trust or similar arrangement is postponed until the death of the second spouse, at which Ume ,t will belully taxable at the rate I.) applleabll to the remllndor benelicIIMles). Enter Ihe vllue of the rust on Sehedull J, Pan II, In order 10 remove 'I from the oalculallon olth. Iall due In thIS lllate You may wl.h to lile Scheduie 0 in order 10 maketh. eleClion avallabll undor Section ~IIJ 1I1n. election IS rn~de, the trust or similar arrangement which bani/its the survIving spouse IS taxed at the zero tax rate, and the remclllnder 15 taKed at lhe rare(Sj applicable 10 the rem.lndlr beneflci.ry(lesl. If you choose to makl the electIOn. you must attach Schedule 0 10 a timely. flied tax relurn, along With Schedule(~) K ,1nd/or M In order to show the apportionment of the trust or simil.1r arrangemen1 between the survIvIng spouse and Ine remainder beneflclary!ie" ''':;llnYflqnt Icl1S811ufm lollH4rl Qnly CPSyulml, Ino t=Ofm REV~ 1500 EX :'1'1'1 ! .(Hi AlII. IliUM .(1.111 COMMONIYEAL!Ht'lF .E~N'I'\.VANI' INH AIIA~OE lAM AltURN M R eSTATp. Of Jouph R. colaruooo fll! NUMBeR 21- 97.0998 Innlude unlllmlKl,.ed medl..I..pan.... ITeM ._tl.liMB!13 1 ._.___..._.__..........._.._.._peScRIPTION __~_ AMOUNl__. Andrews , Patel P,C. Decedent I 8 last medical expense Associates, illness 337.90 2 Dr. cowley Medical Assoc. 3 Dr, Crumay Parnss Assocs. 4 Hol y spirt t Hospi tal 5 Health South Rehab 6 Internal Revenue Service. 1/2 Final Form 1040 tax due 7 Orthoped. Institute of PA 8 Quantum Imaging 5,52 67,40 255.22 99.2" 107,00 25.45 9.32 TOTAL Aloo enter on line 10 Ree. I1lllallOn 907. O~ (If mare Iplle. I. n.edfd, in..., .dditlon.1 IheelS of the ..me ""1 CQPvrlghl(clltf' 'orm ,ollwlrunly ap9Ylleml, Inc, FOI'm RI!V- 1S12 ex (Aev, 1.971 LlIST WI L,I,J.HIL.'J,'jj/J2:rAt:ml'l:LQl': JOSEI'll R,-Q.Q.L~ I, JOSEPH R. COLllRUSSO, of 505 Woodcrest ori.ve, Hampden Township, Cumberland County, Pennsylvania, do hereby make this my Last Will and Testament, revoking any former Wills and Codicils made by me. FIRST: I am married to Louise H. Colarusso, and all references to my wife in this Will are to her. I have four chil- dren: Thomas H. colarusso, Miehael J. Colarusso, John P. Colarusso, and Susan M Colarusso. These and any other children born to or adopted by my wife and me are deseribed in this Will as "my children." SECOND: I give my tangible personal property and all casualty insurance that I am carrying on said tangible personal property, to my wife, Louise H. Colarusso, or, if she does ~ot survive me, I give said property to sueh of my ehildren who are living at my death to be divided equitably among or between them as they may determine, or, if they are unable to agree, as my Executor shall determine, after considering the wishes of such children. I have eomplete confidenee that my wife, my children or my Executor will honor any written instructions that I may leave with regard to said tangible personal property. Any such A TMIf: ctlf'l' ~ PllIOC~ \Il'T~I"'C'..~1'.'''';''','()/' I t~fo!I,t'JI1I0 ,"'lit"" MIl',') 'II'd. ~. i'~~~ ',1 ;:} ~~,Il (:;...;,..~t :\t \.~~fll ;i,~, P.\ ~1;Zj~4.~:,'~I~kr!:;Jj;Q ?qX,) f:L;t:, - ~?fL. m~p~If,!A!.J'!:k.n! l'f(t- I .'v. .~ ~'M :::.rp.l~rl );I~" J I l-"JflJ'\t't:'i'.n<: ~\"..u." f-j -1- ~- property not so distributed shall be sold, and the proceeds added to my residuary estate to pass as hereafter doscribed. THIRO: If my wife, Louise H. ColarusSo, shall survive me, I bequeath to my Trustee, hereinafter named, IN TRUST NEVERTHELESS, cash, securities or other property in the amount specified beloW, to be known as the "Bypass Trust." (1) The bequest shall be $600,000, subject however, to subparagraphs (2) and (3) below. the availability of my federal unified eredit for estate and gift (2) The bequest shall increase or deereasc, based upon taxes, whether due to statutory ehanges, lifetime gifts in exeesS of the federal unified estate and gift tax exemption-equivalent amounts, or any other transfer whieh affects the availability of my federal unified eredit aforesaid. reduce federal estate tax payable as a result of my death to zero (3) The bequest shall deerease, if necessary, to (excluding, however, any federal estate tax due as a result of excess retirement accumulation under Section 4981A of the Internal Revenue Code of 1986, as amended, or such similar section as may then be in effect), considering that my intention is to fund the Bypass Trust by using my available federal unified credit for estate and gift taxes and by using the federal estate tax unlimited marital deduction to eliminate federal estate tax on the balance of my taxable estate. 'f' , ~ ...., ". /.-' I I ~. t.f,/.t.;a)-:7~ 'l-i-c.. . ~..v I \ -2- ~.. ' FOURTH: 1 give, devise and bequeath the rest, residue and remainder of my estate, real and personal, to my wife. Should she not survive me, 1 give, devise and bequeath such rest, residue and remainder to my 'frustee, hereinafter named, IN 'l'RUST NEVERTHELESS, to he held, administered and distrl.buted for all purposes as part of the BypaSs Trust. flET~: The BypaSs Trust shall be held, administered and distributed as follows: (1) commeneing with the date of my death, my Trustee shall pay to or applY for the benefit of anyone or more of my said wife, my children and my issue, untl.l division into shares pursuant to paragraph (5), all of the net income from the BypaSs Trust in convenient installments l.n such shares and proportions as my Trustee in its sole diseretion shall determine primarilY for the medical cars, edueation, support and maintenance in reasonable comfort of my said wife, ehildren and issue, taking into consideration to the extent my Trustee deems advisable, any other income or resources of my said wife, children and issue known to my Trustee, considering that my wife is the primary object of my bounty, and that my ehildren are the secondary objects of my bounty. (2) prior to division into shares pursuant to Para- graph (5), my Trustee may pay to or applY for the benefit of any one or more of my said wife, ehildren and issue such sums from 1 u<&d~.) -)- ~ the prinoipal of the Bypass Trust in slloh shares and proportions as in its sole disoretion shall be necessary or advisable from time to time for the medieal oare, edueation, support and maintenanoe in reasonable comfort of my said wife, children and issue, taking into consideration to the extent my Trustee deems advisable, any other ineome or resourees of my said wife, children and issue known to my Trustee, considering that my wife is the primary objeet of my bounty, and that my children are the secondary objects of my bounty. Any payment or application of benefits for a ehild or issue of mine pursuant to this Paragraph shall be charged against this Trust as a whole rather than against the ultimate distributive share of a beneficiary to whom or for whose benefit the payment is made. (3) In addition to the income and discretionary paYll)ents of principal from this Trust, there shall be paid to my said wife during her lifetime from the principal of this Trust upon her written request at any time during each fiscal year of the Trllst an amount not to exeeed during such fiscal year the amount of Five Thousand Dollars ($5,000) or five percent (5%) of the aggregate value of the principal of the Bypass Trust on the last day of such fiscal year without reduction for the principal payment for sueh fiscal year, whichever is greater. This right of withdrawal is noncumulative, so that if my said wife does not withdraw, during such fiscal year, the full amount to which she 'i~ jY0!<'~ -4- /'" is entitled under this paragraph, her right to withdraw the amount not withdrawn shall lapse at the end of thatfisoal year. (4) My wife shall have a special power to appoint all or any portion of the Bypass Trust during her lifetime by written document, delivered to my Trustee, referring expressly to this Article, or by Will, validly exeeuted and attested referring expressly to this Article, among such other person or persons hereinafter named or described absolutely or in trust, as she may indicate. This special power of appointment is exercisable only in favor of a child of mine as deseribed in this will or to the issue of any such ehild. My aforesaid wife shall have no power to appoint the prineipal of this fund or ineome aecumulated thereon to herself, her estate, to her creditor.s, or to the creditors of her estate. My Trustee may rely upon an attested Will probated in any state, if executed in accordance with Pennsylvania formality and otherwise meeting the requirement of this Paragraph. (5) In default of the exercise of such power of appointment by my said wife, or insofar as any part of the Bypass Trust shall not be effectively appointed, then upon the death of my said wife, the entire remaining principal of the Bypass Trust, or the part of such trust not effectively appointed shall be divided into equal separate shares so as to provide one (1) share for each then-living child of mine and one (1) share for each ~tl"~/ -5- deoeased ohild of mine who shall leave issue then living. The share provided for a living child of mine shall be distributed to suoh ohild. The share provided for a deceased child of mine who shall leave issue then living shall be distributed per stirpes to such issl1e. (6) If at the time of my death, or at any later time prior to final distribution hereunder, my said wife and all my issue are deceased and no other disposition of the property is directed by this Trust, then and in that event the then-remaining property of this Trust, together with any undistributed ineome, shall be divided and paid over and distributed to those persons then living who would then be my heirs, their identities and respective shares to be determined in aecordance with the law then in effect in the commonwealth of pennsylvania, as if I had then died intestate. SIXTH: If any share hereunder becomes distributable to a beneficiary, other than a child of mine, who has not attained the age of twenty-five (25) years, then such share shall immediately vest in such beneficiary, but notwithstanding the provisions herein, my Trustee shall retain possession of such share in trust for such beneficiary until such beneficiary attains the age of twenty-five (25) years, using so much of the net income and principal of such share as my Trustee deems necessary to provide for the proper medical care, edueation, support and maintenance _6_1uydfid& uW,J -- in reasonable comfort of such bene.ficiary, taking into oonsldara- tion to the extent my Trustee deemS advisable any other income or resources of such beneficiary or his or her parents known to my Trustee. Any income not so paid or applied shall be accumulated and added to principal. SlIch beneficiary's share shall be paid over and distributed to sllch beneficiary upon attaining the age of twenty-five (25) years, or if he or she shall sooner die, to his or her executors or administrators. I reeommend that my Trustee consider distributing all income from Bueh share to such beneficiary upon such beneficiary attaining the age of twenty-one (21) years. My Trustee shall have with respect to eaeh share so retained all the powers and discretions had with respect to the trusts created herein generallY, ~VENTH: Anything in this Will to the contrary notwith- standing, no trust created herein shall continue beyond twenty- one (21) years after the deaths of one, the last to die of my issue living at the time of my death; and two, all issue of the individual serving as president of the united states at my death and all issue of said individual'S five (5) immediate predeces- sors in said office; upon the expiration of such period, all trusts shall terminate and all the assets thereof shall be distributed to those beneficiaries (and in the same proportions) as are then entitled to receive the income therefrom. ~ift~",-/ -7- t.-:'- . ..-~ EIQHTH; If any beneficiary and I should die under such circumstances as would render it doubtful whether the benefieiary orI died first, then it shall be conelusively presumed for the purposes of this my Will that said beneficiary predeceased me; provided, however, that if my wife shall die with me as afore- said, I direct that my wife shall be conclusively presumed to have survived me. NINTH; (1) I name my wife, Louise H. ColaruRsO, as my Executrix. If my wife is unable or unwilling to serve, I name my son, Michael J. colarusso, as my Executor. If my son is unable or unwilling to serve, I name my daughter, Susan M. colarusso, as my Executrix. I direet that my Executor, herein referred to as my Executor regardless of number or gender, shall serve without bond in any jurisdietion in whieh called upon to aet. (2) I name my son, Michael J. colarusso, and Hamilton Bank, 3516 Market street, Camp Hill, cumberland County, Pennsyl- vania, as my Co-Trustees. If my son, Michael J. Colarusso, is unable or unwilling to serve, I name my son, Thomas H. Colarusso, as alternate Co-Trustee. If neither of my sons is able or willing to serve as Co-Trustee, Hamilton Bank shall serve alone. I direct that my Co-Trustees, herein referred to as my Trustee regardless of number or gender, serve without bond in any juriSdiction in whieh called upon to act. / -8- ...._M (3) Except as otherwise provided herein, if my wife, my son, Michael J. colarusso, my son, Thomas ll. Colarusso, and my daughter, Susan M. Colarusso, or any sueeessor as herein defined should fail to qualify as fidueiary hereunder, or for any reason should cease to act in sueh capaeity, the suceessor or substitute fiduciary shall be some ba~k or trust eompany with trust powers, which successor or substitute fiduciary shall be designated in a written instrument filed with the eourt having jurisdiction over the probate of my estate and signed by my wife or if she fails to act, signed by or on behalf of all of my children, or if they fail to act, by the eourt having jurisdiction over the Trust. The situs of the Trust may be transferred to the situs of such successor or substitute Trustee by designation in the written instrument aforesaid. (4) For serviees as Executor and Trustee, my Executor and Trustee shall reeeive reasonable eompensation. (5) I direct that the situs of all trusts created herein shall be Cumberland County, pennsylvania, provided, however, that a majority of the beneficiaries of such trusts, who have attained the age of majority, may request my Trustee to transfer the situs of any trust ereated herein. TENTH: (1) I give to any Exeeutor and to any Trustee named in this Will or any codicil hereto or to any successor or substitute Executor or Trustee all of the powers now applicable ~~tf".w~ -9- jJ ./ , ' administration eKpense of holding the assets contained therein in trust is not justified, my Trustee, in its absolute discretion, may terminate sueh trust and distribute the trust property to the person or persons then entitled to reeeive or have the benefit of the income therefrom or the legal representative of such person. If there is more than one income beneficiary, my Trustee shall make such distribution to sueh income beneficiaries in the proportion in whieh they are benefieiaries or if no proportion is designated in equal shares to such beneficiaries. (4) If there be any property loeated outside the Commonwealth of pennsylvania, in which I may have an interest at .the time of my death, which cannot be conveniently administered as provided herein, then I authorize, but do not require, my Executor to appoint a bank or trust eompany with trust powers, to administer such property according to the terms of this Will. (5) My EKeeutor and Trustee are authorized and empowered to retain, either permanently or for such period of time as my Exeeutor or Trustee may determine, any assets, including the capital stock of any closely held eorporation, which at any time shall come into the possession of my Executor and Trustee as a part of any trust ereated herein, whether such assets are or are not of the eharaeter approved or authorized by law for investment by fiduciaries and whether sueh assets do or do not represent an overconcentration in one investment. 'I . t~ ?(~.1.t<JAJ -11- / .~ t:!l\i\lu V(\lIWtloll Date of Deathl Valuation Dalcl processing Uatel 1l/30nCJ91 11/J0/1 9"" 08/2'1/1m ~:!lti\to of: ,Jotlflph R, COlilrlllHIO 1 kllport 'l'VjlOl Oi\te of (julIlh NUIl~)[]r of SecurlLlosl 10 rHo WI COllltllHBo..l Shares or l'ar sacurity Deflcriptloll IIlghlA.k ),ow/Old Meal! and/or. Div ilnd lnt sl',lcurlly Acljti!ltmenls Accruals Valllo II 10000 AHF.<11I!:IIY CIlTY I'^ liesI' pm ml'lI R!:V 101n8AMJ1.1 10S1 lYlo: 0810111"% Milt: 118/1\/1.111.6 5,61.51 11/28/1991 102.86900 102,31500 AID 12/01/199'/ 10Z,95000 101.,4,600 AlB lnt: 08/1,/199'/ 1& 11/30/1991 21 10000 Al,),eom:f1Y wrv' I'A RRI'I' REV 10112B6Bl'1I 10S1 ' OTO: 06/0111"90 Hat: 01101/1.018 '/\ Il/2~/1991 10],21800 103,15ROO AID '12/01/1991 103.28600' 103,16600'AI8 102,,61.500 10,266, 2~ 164,06 103,222000 lO,322,20 lnt! 0'//01/ I :;<(J to tlnO/l99'1 m.12 41 15000 CARRON OIlTl I'R II')SI' AU CIITY GTY IISI' REV (H08688MII . 10S1 orO: 11/01/1990 Mat, 11/15/2014 71 , 11/28/1991 101, 11400 12/01/19.91 10'/.12900 W.I 1111\/1997 to 11/30/1997 5000 PEIIIIBYINANIA IISG FIN. AGY {708191UW61 .IOSI 1Yl0: 08/01/1990 ,.I,t: 10/01120237,651 11/2811991 12/01/199'/ 106,91400 A/8 106,92900 Al8 101.021500 16,053,23 31 43. '/5 101.0'/000 10,/,q8300 106,90600 MB 106,92000 AfB 106.994'150 62.6~ . 5,349,14 Inti 10/01/1997 to 11/30/1991 81 15000 ALLEGIIEN1 C~ITY PA IIOSP Dev AUTH REV (0172896V61 IDSl 1Yl0: OSlO 1/\ ~Iq I ~'la t I 04/01/20216,1\1 11/28/19'j) 110,10200 109.17100 Al8 12/01/1997 110,11600 109.78.00 A/8 109.943150 [6,49\,56 lnt:l0/01/199'/ to 11/3011997 165.94 1;000 ALLEGIIEIIY ONTY PA lIoSP OEV AUTIl Rev (0112896X21 - IDSI ~. DTO, 05/01/1991 Mati 04/01/2021 6.151 I1/28/199? llO.10200 109.77100 A/I, 12/01/1991 I10,11600 109.18600 A/B 109,943150 16,49\'\6 Intl 10101/199/ 1;0 11130/1997 165,94 10000 8LAIR aNTI PI, 1l0'iP .AUTIl REV ,0928400V61 10S1 DTD: 04.lUl/1~'92 ~Iat: 0'//0112022 6,5\ ll/28119~1] 106,86600 106.61200 Al8 12/01/199'1 106.90100 '106,64100NB 106,156500 10,615,65 IntI 01/01/199'/ to ll/30/1997 269.03 10000 81.AIR CNTY I'A IIOIIP AUT II REV (092840DU81 -= 10S1 DTD;C4/0l/l~192 ~Ii\t: 0'/!0)11.0226,5\ Il 128 1199'/ 106.86600 106,61200 AlB 12/01/1997 106.90100 106.6noO AlB 106,156500 10,61\.65 Int: (lei / 0 1/1 ~j q ') to IlnOIl~91 269.03 Pag' I 51 61 11 This report was produced with F.fitM-eV1l1 98, 11 product of f:state Valuations & Pdcinq systems, Ino, If you have q\lestlons, plei\~n contact F.VP systems at (ala) 31)-6300. (Revision S,l,)l , . , iltltl ValuatIon Dati 01 Death. ll/10/U91 VIlultlon Dati' 11110/1991 Proolllln9 Oatil 01/21/1991 EstQte otl Elt~te ot Joa.ph R. Colarusso Report Type: Oat' of Death Number ot Securjtlesl 2~ file 10! col-1 SIII"" or hr Security Description HeJn and/or D1v dnd Int Security ~djustments Accruals IIalue Kt9h/Alk LoW/Bid ---" ...--- ------ --------.~ ......---..-..-- 11 I BALCOR RLTY INVS , ? 10116116091 UIIlT , P 12 ~ASDAQ 11/26119;1 1210111991 11,160000 11,30 10,00000 14,12000 A/B 18.00000 lU2000 ~ID 101.661160 2$,416.91 Int. 061\111991 OJ :11l0/1991 610.21 II 1000 LANCASTER CNTY ?A KOSP AUTK PlV (1IIOIIQN61 IDSI OlD, 0210111991 ~at: 11111/2014 \.II 11121/1991 101,41000 100.91100 ~/B 12/0111991 101,41000 100,91100 AIB In.: 11/1111991 :0 11/10/1991 1,019.12 10t.l96100 11.16 II 21000 BRAD10RO C~T~ ?A :~OL ,v SL) ,STF. lSP RV 1I0121PAB61 IDS! DTO: lV('L'l~~: :~.\t; 11/0L-:J:~ 5. H 11/29/19,1 103,61000 103,20200 AIB 12/01/19,1 103,11600 103.21900 A/B Inti 06/01/1991 :0 1IIl0/llll 61 1000 ALLEGHENY CNTY ?A ~PT REV 10112160E21 IDSI OlD: 01111/1993 :10:: 0110t/2013 1,62\1 11/21/1991 102.90100 102,41900 A/B 12/01/1\91 102,96400 102.51600 A/B 21,868.10 103.411000 133.40 1,136.32 102.126100 116.11 Int: 0110111991 :0 1I1l01\991 11 10000 PEIlNSYLVI\IlIA aSG !'IN AOY (1081912Ell TDSI OlD: 09/0111993 ~ot: 10/0112021 1.,1 1I/21/1!!1 99.11600 91,60100 AlB 12101/1991 99,11100 91, ,0400 AlB 91.119710 9,111.91 Int: 10/01/1111 :0 11/30/1!91 11.11 100 HUNIC:PAL IHC~ ;??~ II 162?21R109l NYSE 11/1.111911 1.02\00 1,502\0 aiL 12101/1 !91 a,02\OO 1.50000 aiL 3.\19125 1,219.09 11000 mHK:'IN IHO SEW 'i/I($ REV ;3IJ006CNII 1051 OlD, 0110 lID!' :iot: 03/0112009 1,ll IIm/l991 101.11900 101,61000 AlB 12101/1991 101.11900 IOU0200 iIIB' IOU9I110 1611~4,21 Int: 09/0111191 :0 11110/1191 2]4,42 paqe 1 II 101 this report ""11 prQduced '<11th ::sta,:eVal ~8r .I ?COduct Jt ~Itate lJaluattons _ ?l'1cinq 3ysteN, Inc, It ,/OU hlV" :{UtStions. please ,:ontact mp ~ystelU .it i91~1 )lJ"~)OO. (~,vl51on ~,l,JI ~ Prudential ,lack R. Spahr VIe' 1.".Id,", . '""'/J'''"'' Shelly ,\, WelhlllY W,", Sm/" AII/lIunl Pnld.ntl.1 S.oUIIII.. Inoarpall..d 3lamoyne Drive, lemoyne. PA 11043 Mail to: PO. 80K 7. Ca'llp Hill, PA 17001.9852 Tal m 781.7344 Nat'! BOO 468.8685 FaK 717 975.0426 April 24. 1998 *UREVISEDU* Ms, Maria Smith Keefer Wood Allen & Rahal. LLP PO Box 11963 liarrisburg, PA 17108-1963 RE: Estate of Joseph R. Colarusso Dale of Death 11130/1997 Dear Ms. Smith: Please be advised of the securities and values for account 1/044-2363 I I -24, titled Joseph R. Colarusso as of 11/28/97 and 12/01/97. QUANTITY DESCRIPTION 11/28197 12101197 11-20,000 Allegh Co. PA 7.75% 1/1/2019 $20,000 $20,(XX) '/0 10,000 Allegheny Airport 7.00% 1/1/2018 10,464 10,464 1,\15.000 Allegh Airport 6 5/8% 1/1/2022 16,178 16,178 \1\5,000 Allegh Airport 55/8% 11112013 5.116 5,116 ~ 15.000 Allegh Hospital 6.75 % 4/1/2021 16,423 16,423 1)(10.000 Allegh Hospital 6.00% 11/1/2012 $10,525 $IO,52'i \1(20,000 Allegh Hospital 6.00 1111/2023 20.908 20,908 ~IO,OOO Allegh Hospital 5 5/8 811512026 10.148 10,148 \0\10,000 Blair Hospital 6.50% 7/1/2022 10.867 10,867 lI. 25,000 Bradford Co PA 5.90% 12/1/2019 25.627 25,627 10\ 25,000 Bucks Co PA 5.50% 6/15/2017 $25,502 $2'i,502 l.\ 15,000 . Carhon Hospital 7.0% 11115/2014 16,294 16,294 " 6.906V Command Tax Free Money Fund 6.906 6.906 IX 23 Units Dean Witter 1/52 8,476 8,476 \x20,000 Hampton SD 6,00% '111512021 21.140 21,140 ~ 15,000 Harrisburg PKG 6.65% 8/1/2016 $16,224 $16.224 '/0 5,000 Lancaster Hsp 5.50% 11/15/2014 5,092 5,092 \). 25,000 Montgomery HilEd 6.0% 6/1/2022 26.215 26,215 \).. 500 Muni IC OP Trust 11 4,313 4,282 I)., 40 Units MITF PA 1/31 41.038 41,079 .111..11I'11 S.cUIIII" laCOcpcll". 3 \,O\'llo'jl\o Oli~o, 10\'llO~oe, P~ \1043 Mall \0', P.O. \lo~ 1, Ca\'llP Ilill, P~ \100\.9II~2 1011\116\.13>14 lola,'1 \lllIl41i8.B6B~ , "1\\ ta~ 1\191tlB'1f!\\1B $ ~"'~\\5 \5 ~12 \~, . \9' "0' \ 9 ,29\1, \0"0\; \0,0\2 . ~ \0,64\ \0,633 5 "66 5,266 .,,, ~ prudential ~\ \ tlni\S ",\1 tl "i\S ~B tl"ilS \)dO ,000 J\O,OOO \J,5,000 "" \,\'\~ \' /\ /\ series M.rn~ 1'/\ H6 ",,\'t~ 1'/\ H9 \,/\ \W/\ 5.60% \0/\12025 1'/\ H~/\ H3~ 6,11,5% 04/0\/\6 "1'/\ \\\:/\ H2B 1.650/0 \0/\/2023 1'/\ \1~\\'f H\ \5 1'/\ nA\'\' H\25 1'/\ \M\1' H\~\ 1'/\ Slate /\ 1.30% 5i\~112003 pB 1'/b \:\'i seTies #3 l' ota\ \j.. \0 tl"ilS ~\\ tl"ilS \J,\2 tl"i\S J.. \0,000 ~,)O tl "ilS \ do,,'1 hesitale 10 call. \ { \ can assist ~ou {UTlher. ? ease Sincere\~ ' (j/(j ~~ L{ sne\W /\. Wei\)\e~ c\ienl sef'/ice /\ssiSla,,1 $ 1 ,6~ \ \~,1\6 \\ ,119 \0,30\\ \,\\02 ~26,165 $ 1 ,642 \~,1\5 \ \ ,1'62 \0,30\1, \,\\02 ~26,1'61 ..~ ~at"'~'l\ ~~ lJuat,"\IlIJl,\, .\,."d ,,\I'~\' ~ul " o'~ "",,,,,\lY ",\'IIpl.I' '., ",,'" ",,,,I\IU\O' 11" ,,,{,,,."""" ,,,"I"ood \",,1" ~" ~""I\\"\A\"~~I::: ;:::: ~ .. "'..... ....... ~ .. ",... ' . ., ,IIW" ,,' ."nV' ~ . , ,. ..... ....... .. , ,~ ..- . .... ,.. ." ". ,"'............".... ... I @ Mellon 8(1nk P,O, ao~ 7891l . philadelphla,I'A 19101.,891l February 03, \998 Maria Smith Keefer Wood Allen & Rahal 2\0 Walnut Street P,O, Box \\963 Harrisburg P A \7108-\963 Estate Of Joseph R Colarusso Date of Death: \\/30/\997 SSN 072-\8-3856 ' , . In accordance with your request, the attached Information sheet has been provided In the above decedents name as of hislher date of death, For lL or LC accounts. contact our Loan Department at \_800-537-5591.' For all other inquiries. please call (2\5) 553-\585, Sincerely. Shel17wamer fid{fJ!J~ ,/ Mellon Bank, ~f Deposit Suppo~ S.ervices \99.5355 I .\ ~I ~ ~ ~ ~ ~. i ~ ~ .. ,,; ~I III It w I~ ~ . . ~ ~, " i N - ~CD .--, Q.; n d '-~ !!: :; .~" ~~ 1Il~ ',1",(' n oS -,;!',:,,- Ulil ~~7i C\"ogoo ~ 0""....,. ... !~ n ..... aO ".....D"" .. c! ~l.ci.o I I , . , , . ~~~'to.~ a 1=....; I ,'c.,'~ t ... '~c~:~_ tiN , . . . , . I - i - .. , . ... .. ?~(j:! ., IX ~~ . ':'J/' ;; "...... - I: ::~~:;l. t 81 - .. - : .t . I ... : :~~:,I I :: II - i rc . ~ -: ... ~~ ~ ." Ui : III -.j:" ~ ~ - Cl ':_',,.'J ~ ,~ l~~ .. <I:l - '"f"';: .. 1 -: ..Q :'~":~.i~ = ~ 'ii tl !-! .; ~.I-;+i::~ i III f:j~, 1 < Zi -: III 0 ii l~i I l Il:llll -: c t! z . ... "~I - i ~~ - - . - .. il'" ~.. 'li . .... 0 ~. - 71- - ..: o~ II i >!-l ~ii_! j II =:0 ~ l:la:f I <l!~'- Br i '" - a :;)Cll.:) i . ~ II: -: a:"'a: . rn. ~ ~ ],:~~~'l- ] .5 . ~12:;) . Q. 0 J - . t i Cl: ... \)a:~ . .., ! ' ct i Ii i i i It t . -. .! _ III II'l ,- .. .- J~~~~'=O\i a:~- . 'PO ~ 0( !l - :: z ,::1' u u J 1 t; ~ I u iI - 'ii ~ .:< ~ II i51~ ~ -!! - . z > > Z Q. . - ~~~ .~ 1 ~ - . I t (j Z - ~ ~ ~ Gj ~ ::c: ~ ~ ~ ~ o ~ ~ III ~I~ :q~:: ! ;11I. l~~~f hill! zz"'a:~ H~~~E. ;'~~Ri ~ i ".'8' - ;~~"-' :;.,~ 8" r::,~-",~~ t.... ~~~~ ~ 0 !f,'"" I '+,'~ii:'''' ~,f;f~~.t ~~O~""IDOOOO~ o.nONtti~ooooa \1'".1"'4 0 .. II "'....00000000"'01.1\ -= OtlllOIl\III~OODO"'O. >_ ~"'DNNOOO~O..r..o .Jlil \Qn ~::li!: ,i'; N';'; .;~.; .N O>olCl ,... ~ N"'" " ,z . . ~:,t::i~~ ;~ttt! '''/.(:1: ,'.r,- 1 i~ ~'l. ': Mill ~Cl~ ! . ]..%..p!l > -; .i~ih~~ ! 'i ::I 71iiEu.llii. 'H M tM.h Cii ~J!'" > m'1. 615 ~l ~i{~ ~H~ ::I1II::Iui5:l:;)u<5<cu ','~1 ,..!! . "ii:' e .'; JIJ~ 1] " ::!!?::',!m\! :':,l:~::;;i\ S ;.,.,<,', >:i!':) I .:~\;\L.{ >- '"''''l''' !f!ilfu'ihi ~::,:\r,: ~ ~i ::' ~':j)~ ):i1\iq::'i~!: '~ :a: .1: tJ'J :.:IU~ ,E! ' 1 ...' .-4C10I.l\OOOOO~ .".,ooW\qooo,.. "Noo~iooo~ ~;: ~:.. .. .~ ~~. ~ f"f ..,..", CI .. N . ~gg:~~:gg;t ~";o~~":.ocif ;:.rt 111$:= ;. . . ... N . 1 j~ !l- ': M1) - .: 1~_.g ~"6 I Ii ~Ol!l.d: ::I ~- "'.- c.~ > ~ ~'- "Ie!:!- fH i ~~~ ~l~ :lIll:lU :!:;)u51... .3. The D~cedent designated the Disclaimant as the primary beneficiary of the aforesaid two (2) IRA's. No contingent or secondary beneficiary designation was made by the Decedent, so the Estate is, by default, the secondary beneficiary of these two (2) IRA's. 4, The Disclaimmll desires to renounce and disclaim, absolutely and forever. any and all of her ownership interest in the foregoing two (2) IRA's, in order to cause such IRA's to pass, by default. to the Estate. 5, The Execlltrix desires to renounce, absolutely and forever. her entitlement to receive a commission from the Estate for her services as the Executrix. 6. By paragraph (3) of Article FIFTH of the Decedent's Last Will and Testament, dated September 9, 1988 (the "Will"), the Decedent granted to the Disclaimant a so-called "5 and 5" special power of appointment to withdraw from the principal of the Bypass Trust the greater of $5,000 or 5% of the principal value of the Bypass Ttllst each year. The Disclaimant desires to renounce, absolutely and forever, any and all of her right, title and interest to exercise the "5 and 5" special power of appointment provided for her in paragraph (3) of Article FIFTH of the Will. 7. By paragraph (4) of Article FIFTH of the Will the Decedent granted to the Disclaimant a special power of appointment to "sprinkle" the principal of the Bypass Trust among the Decedent's children and issue. With respect to the funds of the foregoing two (2) IRA's only. tl.e Disclaimant desires to renounce, absolutely and forever. her right to exercise the special "sprinkling" power of appointment with respect to such disclaimed IRA funds, 8. Nothing in this Instrument of Disclaimer is intended to modify. diminish or affect the Disclaimant's rights in the Decedent's other IRA's or to the Estate, including the Disclaimant's rights under the Will to receive the income and principal benefits provided in the 2 BypU8$ Trust described In the Will, Ineludlng tho Discluimanl's right to exercise the "sprinkling" 8peclul power of IIPI1(llnltllent with respect to the non-IRA funds of the Estate. NOW T1IEREFORE, the Discluimant, intending 10 be legally bound, does. for herself', hcr heirs, personul representatives. successors and assigns. hereby exercise the rights l!l'lIntcd to the Iliscluimllnt in Chapter 62 of the Pennsylvania Probate, Estates and Flducluries Code, 20 I'u, C.S.A, Sections 6201.6207, and hereby disclaims, releases and renounces, uhsolutcly llnd forever, any and all of her ownership interest with respect to the Ibllowlnl\: I) IRA Accollnts Nos. 9513293919348034 and 9513293919348042; 2) wllh respect to the funds of the two (2) IRA's described above only, tho "sprinkling" spcciul power of appointment granted to the Disclaimant by purugl'llph (4) of Article FIFTH of the Will; 3) llny commission from the Estate for her services as the Executrix; and 4) the "5 and 5" special power of appointment granted to the Disclaimant by . paragraph (3) of Article FIFTH of the Will; provided, however, that nothing in this Instrument of Disclaimer shall modify, diminish or affect the right, title and interest of the Disclaimant in and to the Decedent's other IRA's or to the Estate, whelher under the Will or otherwise. including the Disclaimant's right to exercise the "sprinkling" special power of appointment with respect to the non. IRA funds of the Estate, The Disclaimant intends that this Instrument of Disclaimer shall constitute a "quuli tied disclaimer" by the Disclaimant under Section 2518 of the Internal Revenue Code of 1986. as amended. IN WITNESS WHEREOF, the Disclaimant, intending that this Instrument shall be delivered 10 the Executrix and tiled of record in the Office of the Register ofWi1ls of Cllmberlund County, pcnnsylvanill, has hereunder set her hand and seal to this Instrument of LJisclllimer on thiS.)'" _ day of August. 1998. "Disclaimant" ,ht~J rJ1M~ WrrNESS V , '1~U.~ ,# ;t~;,-~-<:; LOUISE H, COLARUSSO 3 3, The Deccdent designated the Disclaimant as the primary bCllcficillry of the aforesllid two (2) IRA's. No contingcnt or sccondary bcncficiary designlllion was mlldc by thc Dccedcnt. so the Estllte is, by dcfault, thc sccondary bcncficiary ofthcsc two (2) IRA's. 4. The Disclaimant desires 10 rcnouncc and disclaim, absolutely and forcver. any and all ofhcr ownership interest in thc foregoing two (2) IRA's, in order to ellUSC sueh IRA's to pass, by default, to the Estate, 5. The Executrix desires to renounce, absolutely and forever, her entitlelllentto receive a commission fromthc Estate for her services as thc Executrix. 6. By paragraph (3) of Article FIFTH of the Decedent's Last Will and Testament, dated September 9, 1988 (the "Will"), the Decedcnt granted to the Disclaimant a so-called "5 and 5" special power of appointment to wilhdraw from the principal of the Bypass Trust the greater of $5,000 or 5% of the principal value of the Bypass Trust each year. The Disclaimant desires to renouncc, absolutely and forever, any and all of her right, title and intercst to exercise the "5 and 5" special power of appointment provided for her in paragraph (3) of Article FIFTH of the Will, 7. By paragraph (4) of Article FIFTH oflhe Will the Decedcnt grantcd to the Disclaimant a spedal power of appointment to "sprinkle" the principal of the l3ypass Trust among the Decedent's children and issue. With respcct to the funds of the forcgoing two (2) IRA's only, the Disclaimant desires to renounee. absolutely and forever, her right to exercise the special "sprinkling" power of appointment with respeet to such disclaimed IRA funds, 8. Nothing in this Instrument of Disclaimer is intended to modify, diminish or affect the Disclaimant's rights in the Decedcnt's other IRA's or to the Estate, including the Disclaimant's rights under thc Will to receive the ineome and principal benefits provided in thc 2 COMMONWEAL THOF PENNSYLVANIA COUNTY OF CUMBERLAND : SS. On this, the ,J-i, day of August. 1998, before me. the undersigned officer, personally appeared LOUISE H, COLARUSSO. known to me. (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that she executed the same for the purposes therein contained, IN WITNESS WHEREOF, I hereunder set my hand and official seal. ~~o...., a~~ Public ~ Nolarlal Saal C Oynlhla J, Aula, Notary PUbllo amp Hili Boro. Cumt>erland County My Commission Expires Jan, 24. 2000 4 , ...... i,'-) P;'i ['),J (.)j :;;:1 ...." I.' a:: ~p ,J\ r", , >' '3d --- ... -"...,----.,.-....-... ......~ u,~.,..._ -. ._o____~... - ~~ .J p:: <( (lJ ~~ ~l I " :r.: <( 'M H ct :J ~~! "-1 00: ~ tl' ;r: .Q ~l t(l ~ en f-< p:: ~" U ,.. ILl Ul Ul Z I1lf1"tro ,"::r:oO: H W ~ 0 . O(l,JiI 0 .J"~- .c: t)~~ JilU .J 111... ~ () ~UlILI '" q: j: 0( IV " ~ ~ 00 0 z 0 n. :J f-l~ ci~lIl~ .c: 8~~ f-< . f-< . 0 ~ 0 ~ U ~ f", 0 Z 00 m OUl ILl . S: - . </) ~~ Ul ~~ N -. r<: ~ iii f"1 ::> ::> ~ :t:HO:: p:: ((. < -1-' ]: ~~ f-<00:<t: f-< W " f-<..:l Ul U. (lJ ZtflQ Z W .0 HILIU H 0 W p:: ~ -.-...._;........- .~- . /,j- j I () '-;,'1 auREAU Of INDIVIDUAL TAKES INHEMI'ANCE 'AX DIYISION IIEP'. 28060 I HA~JS.URO, PA 171l8MD601 COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE *' (~~ NOTICE Of INHERITANCE TAK AppRAISE"ENT, ALLONANCE OR DISALLONANCE Of DEDUCTIONS AND ASSESS"ENT Of TAK U~.It4' If'" ,".", 12-28-1998 COLARUSSO 11- 30-1997 21 97-0998 CUMBERLAND 101 ~ ~~~~liif R.!ill~ \ MAKE CHECK PAYABLE AND REMIT PAYMENT TOI REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CII.RLISLE, PA 17013 CUT ALONG THIS LINE ... RETUN LOWER PORTION FOR YOUR RECORDS ~ iiIV': is'4'"ix"Aiip "rilii:9'iriliificinoF "Ytiiiiiii fAile-i" 'fAx-APpiiAisiMEilT~--Aii."liiiAiie-E"ifR--"--"m_" m___ DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX JOSEPH R FILE NO. 21 97-0998 ACN 101 ROBERT R CHURCH ESQ KEEFER ETAL PO BOX 11963 HBG DATE E8TATE OF DATE OF DEATH FILE NUMIER COUNTY ACN JOSEPH PA 17108 ESTATE OF COLARUSSO DATE 12-28-1998 TAK RETUIIfl NASI (X) ACCEPTED AS fILED I CHANGED RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN 1. Reel E.tete (Schedule Al 2. stockl end Bondi ISch.dule 8) 5, Clo.ely Held Stook/pertner.hip Intere.t (Schedule CI 4. Hortgage./Not.. Receivable (Sohedule 0) s. C..h/Bank Deposits/Hilo. Perlonel Property (Schedule E) 6. JointlY Owned Prcperty (Schedule fl 7. Tran.fera <<Sohedule 0) a. Tchl A..eto NOT~1 To in.ure proper oredit to your eooountJ .uboit the upper portion of thle forM with your tax p.y..nt. (l) .00 (21____~2,333.42 (51 77.30 (41 .00 (51_ 31.863.10 (61 .00 (7) 1.125.398.00 (al 1,619,671.82 APPROVED DEDUCTIONS AND EXEMPTIONS: ,9. funeral Expen.../Ad.. Costa/Hilo. Expens.. (Schedule H) 10. Debt./Hartgege Liebilitie./Lien. (Schedule 1) 11. Tctel Deduction. 12. Kit Velue of Te. Return 13. Chari'lab1e/GovarnHntal Bequash) Non"electlld 9113 Trusts 14. Net Velue cf E.tete Subject to Te. 34,634.33 907.08 nil (2) nSI (14) (91 no) ~1;.1i41 61 1,584,130.41 .00 1,584,130.41 (Schedule J I If .n ........nt we. i..u.d pr.viou.ly, lin.. 14, 15 .nd/or 16, 17 .nd 18 will r.flect figur.. th.t includ. the total of Abb r.turn. a......d to d.t.. ASSESSMENT OF TAX: 15. Aeount cf Line 14 et Spcu..l rete (151 16. A80unt cf Line 14 te.oble et Lineel/Cla.. A rete (161 17. Aaount of Line 14 te.eble et Colleterel/Cl'" I rete (17) la. principel Te. Due TAX CREDITS: PA YHEHT OATE 03-02-1998 08-28-1998 NOTE I 976,039.66 K .00. 608,090.75 K .06. .00 K .15. na) .00 36,485.44 .00 36,485.44 RECEIPT NUNIER AA269802 AA296604 DISCOUNT t+1 INTEREST/PEN pAID (-I .00 .00 30,400,00 4,485.44 AHOUHT PAID INTEREST IS CHARGED THROUGH 01-12-1999 AT THE RATES APPLICABLE AS OUTLINED ON THE REVERSE SIDE Of THIS FORM TOTAL TAX CREDIT BALANCE OF TAX DUE ----- INTEREST AND PEN. TOTAL DUE 34,885.44 1.600.00 52.30 1,652.30 . If PAlO AfTER OATE INDICATEO, SEE REVERSE fOR CALCULATION OF ADDITIONAL INTEREST. If TOTAL DUE IS LESS THAN .1, NO PAY"ENT IS REeuIRED. If TOTAL DUE 15 REflECTED AS A "CREDIT" (CRI, YDU HAY BE DUE A REfUND. SEE REVERSE SIDE OF THIS fORH fOR INSTRUCTIONS.) R RESl<R\lmOHI . PIlRPG$E Of NOnCEr PAVftfNTI Rf;FUHD (CR)l oaJECTIOHSI ADHIN ISTRATIVE CORRECTIONS I DlSCOlIfTI PENALTY; INTEREST t r,", " r~, .. 1\ .. fi,; \)'1 fttet" of deOHenh d~~n. on or b,fpr. III(jabe,' 12, 1912 ~- Jf W1Y future Inter..t In the utfttll h tr."f,rred In po.....lon or enjov.ent to fol... . '(o"ll.t,r,l) benefJel,rl,. of the d.c~nt ,ft,r the IMPAratlon of ~y ..t.t. far lif, or for y..r._ thl CO..omHIIUh twr8Y IlCpr.llb r...rv.. thl right to Ipprlln end ...... tr-O".r InherUInO. '-Jill. et the lawful CI,.. . (ooll.t~r.l) rat. on any luch future Int.r..t, To fulfill the ,..quirlllHnh of Slotlon ZUO of thtl Inherltanal and E.t,t. hI( Act, Aot 21 of 1.995. (7Z P.S. SaCltJon 9140). Detloh the top portion of thll HoUce IInd lubllJt with your pay.,nt to the RIght.r of NUh printed on the rlv,,'" I1de. --"MI cheok or .only order PllYlbl. to I REGISTER OF MILLS J AOENT A refund (If a tax oredit, whioh WllB not r.que.ted on the hI( Return, Blty be requ..t.d bV cOllp1eUng an "App)Jc.Uon for Refund of Penn,ylvanln Inl~rltance and E.tate Tax" (REV~11111. Application. ar. availltble at tn. Office of the R.gl.ter of Will., any of the 21 Rev.nue Ol.trlct Office., or by calling th. .peolel 24-hour Iafl...rlng .ervlC1e hl.Mber. for for.. orderlnUl In Pennllylv..,la l-&OO-362-21150, ouhld. Penn'Ylvanla and within 100.1 Harrl'burg ara. (717) 767-8094, TO~' (717) 77l-2252 (Hearing IMpaired Onl~). Any party In Intere.t not ..ti.fied with the apprai...ant, allow.nc. or dl.allow.nc. of dtduotlon., or ......-.nt of t.x (Including dl.count or int.r..t) ~s .hown on this Notla. au.t objlct within sixty (60) day, of r.celpt uf thh Notic. bYl --wrltt.n prote.t to the PA n.part..nt of R.v.nUB, Board of APPOIlIs, D.pt. 261021, Harrl.burg, PA --allactlon to have tha aattor- d.t.r.ifMd at audit of the acoount of the p.rlona1 rapr..ant.tlv., --lIPp.al to the Orph.n,' Court. 17128-1021, OR OR Factu.lerror. discov.r.d on thb ........nt .hould b. .ddr....d In writing tOl PA nepart..nt of R.v.",.., lur.au of IntUvldual TIlle., ATTNl Po.t A".IIBflnt Revl.w Unit, n.pt. 280601, Harrisburg, PA 17128-0601 Phone (717) 787-6505. s.~ p.g. 5 of the booklet "Instruction. for Inheritance T.x R.turn for. R..ldent hc.dent.. (REY-ISOI) for .n Ixpllnatlon of ,dltlnhtratlvely corr.ctable errors. If ~y t.1( due I. paid within three (3) cal.ndar RonthR after the deced.nt', de.th, a flv. p.ro.nt (5~1 dl.count of the tlX paid I, allowed. lhe 15% t.x -.ne.ty non-partlcip.tlon panlllty II cOllput.d on the total of the t.x ~ Int.r..t .......d, end not p.ld b.fore January 18, 19'G, the flr.t day .fter the end of the tlX aRnlsty plrlod. Thl. non-partlolp.tlon pen.lty It app.alabl. In the .... .ann.r .nd In the the '..e U.e period U YOU lIIould app.al the tax Itlld Inter..t that he, b..n .......d ., lndl~.t'd on thl. notice. Inter..t It ch.rged blglnnlng with flr.t day of d.lInquency, or nine (.) lonth. and on. (1) day froa the! date of death, to the d~t. of p.y..nt. Tal(" whloh bee..e delinquent u~for. J~l.ry I, 1982 b..r Inter..t .t the! rate of .IK (6%) percent per ~ln~ oaloulllt.d .t . dall~ r.te of .000164. All taxa. whJch beea.e d.linquent on and Iftlr JlhUlry 1, 1982 will be.r Intarl.t at a rlt. which will vary fro. calandar y.ar to calendar year with that rat. announoed by the PA Depart..nt of RevenuI. The appllc.ble Interl.t r.t.. for .\982 through 1999 arel I:!!l: Intl"est . '!!!., O.ih Int.r..t Factor ~ lnt.r..t Rate OaUy Int.r..t F.ctor 1962 20:< .000S48 1988-1'91 11% .00OSOI 1983 16% .000436 1'92 9X .000247 1984 11% .000301 1"3"1''14 7i: .000192 1985 13% .DOnS6 1995-1998 91: .000247 1'16 10% ,00027" 1999 7i: .DDoI9.:! 1'87 9X .000247 ~-Int.r..t 1. cIlcul.t.d .. follow" INTEREST . BALANCE OF TAX UNPAID X NUNBER OF DAYS DELINQUENT X DAILY INTEREST FACTOR ~~Any Notice I..u.d .ftlr thl t.x beco.., delinquent will refl.ct .n Int.re.t calculation to flftean (15) dlY. beyond the d.te of t~ .....lIIRt. If p.y..nt i. .ad. aft.r the lnt.r..t ooaputatlon data .hown on the Notlc., Iddltlo~l Int.,-e.t ~.t b. cIlcul.ted. "Beneficiaries"), by distribution ofThirly Thousund Dollars ($30,000) 10 each of the Beneficiaries. This distribution will cause that amount of the tuxable income of the Estate und the Bypass Trust to be taxable directly to the individual child of the Decedent who receives such distribution. 4. Article FIFTH of the Will authorizes the Trustees to make distributions of income und/or principal "in such shares and proportions as in ils [the Trustees'] sole discretion shall be necessury or udvisable from lime to lime for the medical care, cducation, support and maintenance inreasonablc comfort of my said wifc, children and issuc...... 5. Bascd upon the tax reasons set forth above, and in eonsidcration of the indemnifications hcrcinafter provided, the Executrix, the Tl'lIstees, the Wife and the Beneficiaries all now desire the Executrix to distribute the sum of One Hundred Twenty Thousand Dollars ($120,000) to the Tl'lIslees. Based upon the tax reasons set forth above, and in consideration of the indemnifications hereinafter provided, the Trust'Jes arc willing to accept this cash distribution and are also willing, simultaneously, to distribute this One Hundred Twenty Thousand Dollars ($120,000) to the Beneficiaries, in the amount of Thirty Thousand Dollars ($30,000) to each of the Beneficiaries, 01' to the issue of the Beneficiaries, as set forth on Exhibit "A," which is attached hereto and incorporated herein by this refercnce. 6. On 01' about .July 16, 1998, thc Executrix distributcd thc sum of Three Hundred Thousand Dollars ($300,000) to thc Trustces, in parlial satisfaction of the pecuniary legacy provided for the Bypass Trust in the Will. The Wife and the Beneficiaries now desire to approve . of this distribution by the Executrix to the Trustces. 2 7, The foregoing partial distl'ibutions frolll.the Estate arc Illade pending the final settlement of the Deccdent's fedcral estate tax and Pennsylvania inheritance tax liabilities, and pending the final approval, ifany, ofa First and Final Account ofthc Executrix by the Orphuns' Court Division of the Court ofClllllmon Pleas of Cumberland County, Pcnnsylvania (the "Court"). NOW THEREFORE, in consideration of the foregoing, and intending to be legally bound, severally but not jointly,the Executrix, the Trustees, thc Wife and the Beneficiuries, for themselves, their heirs, successors and assigns, agree as follows, to wit: A. The Trustees acknowledge receipt of the sum ofThrce Hundrcd Thousand Dollars ($300,000) on or about July 16, 1998, in partial satisfaction of the Trustees' pecuniary legacy under the Will. B. The Trustees acknowledge receipt of the sum of One Hundred Twenty Thousand Dollars ($120,000), in further partial satisfaction of the Trustees' pecuniary legacy under the Will. C, The Beneficiaries each acknowledge receipt of the SUlll of Thirty Thousand Dollars ($30,000) as a special principal cash distribution to each of thcm, or to their respective issue as set forlh on Exhibit "A" from the Trustees, in partial satisfaction of the Beneficiaries' rcspective interests in thc Bypass Trust, as provided in the Will. D, To the extent ofthe aforesaid partial distributions from the Estate, the Wife, the Bcneliciaries and the Trustees hereby absolutely and irrevocably remise, release, quitclaim and forever discharge the Executrix, including her heirs, successors and assigns, of and from any and all actions, payments, accounts, reckonings, liabilities, claims and demands rclating in any way to the Estate or to the Will. E. The Beneficiaries cach agree to reflmd, on demand, all or any part of the aforesaid Thirty Thousand Dollar ($30,000) partial distribution made to each ofthel1l, or to their respective issue, if any or all of the same shall have been determined by the Executrix, or by the Trustccs (or either ofthcm), or by the Court, or by any court of competent jurisdiction, to have bcen improperly made. F. To the extent of their rcspectivc Thirty Thousand Dollar ($30,000) partial distributions, thc Beneficiaries hereby agrce to indemnify and hold hanllless the 3 i, f \iLl "" t;J -I ;Q I-I Z r.~] <( OJ :?; HH f-< I " 'I~ ~ "" QZ <( .,.j I., "1(5 ~': r.Ll . ~: Cl: ;:l >"-) ~" ,.J f--< (l! ~H G: -. "" U) ~ b' ~/!;~CO rll ,li1 H (Ll '<'l ~ If! ;r: . Q ~I) ~Il f "-I ~~Hg; f-< 11: rei rc: cr. ~"3' Z t, ~ U) 19 "-' H ~ ~ ~ ~ . . (1, 0 0 ('< :r. "" .....-c ~ 0 tf) .c: . f2 0 00, fLl rtl p, 0:. !-') ..J l/J: ~~ ' () ~ 1 ~t( .... ~. 8 ~ ~] u (j) >, l? cr. <( j K <( I ~I n:: U) ,,1 ,.:1; f---1 z z H ::l "-10 (:) f-ll f--( -."-( 7. 0 n. .0: . H 0 ci ~ ~ l'i f2 8 ~, H r"") I--l~ZHCl U ~::l tn. f.-, , w :;-: r2 f' Z o ~ 0 ~ 8~;:;~ "" '" 0 no: ~1 ,.1 ..", "" 00. m ~: 0 In (:) .. .-- ~ - . 0:: 'f> .z U m N ~ ~~~ -. Z H ~ ~.I "-I "' f---1 H .( < +' :r: f-< 0:: P, 00:: Il:' T " z~o H"4; "" HQut:; w OJ f-t ~1 r.u 2, H U. .0 H .. Z if,O u,:r: Cl W 0 ) H W U reI "I _~_I 0:: :os:: PAVNfNTI Detach the top portion of this NoUel and lub"lt with ~Clur pav",.nt .ad. payable to the "s.. and addr... printed on the tever.. ,id.. If RESIDENT DECEDENT .ake cheok or .oney order payablfl tOI REGISTER Of WILLS, AGENT. If HON~RESIDENl DECEDENT .ake cheok or MOney order payable tOI COHHONNEALTH Of PENNSVLVANIA. REFUND (CA)1 A r.fund of a tax oredit, which wall not requested on tha Tax Return, .ay be requ.tted by cio.plating lllf1 "Applloation for Refund of Pennlvlvanltl Inheritance and E.h,t.... r.)Cft (REV-UB)' Applications .r. .....U.bl. at thtl Offloe of the Raghter of N11l1, any of th_ 23 Rev8n'JI ohtrlct Off leIS or frOll the DIP.,t..nt'. 24~hollr anlwarlnt ..rvlo8 n~ber. for fGrllls orderlnal In PennsYlvania 1~600-]6Z-20~O, outside Penn,ylvanla and Nlthln local Harrisburg at.. (711) 787-8094, TOD* (717) 772-lZSZ (Hearing I.palred only), REPLY TOI Que.lion. regllrdlng ar..ors contain.d on this notico .heould bn addressed tal PA DlIpllrt..nt of Rovenue, Bur..u of Individual TeI<IIU, AllNI Post Auess..nt Review Unit, Dept, 260601, Harrisburg, PA 17128~0601, phone (717) 787'-6505. DISCOUNT I If any tal< dUe 1. palel within thr.. (3) oal.ndar .onths aft.r the d.o.dent's death, a five perc.nt (5%1 dhcClllOt of the tal< pllld Is allo~.d, PENAL TV I The 15% hI< allnut)' nnn-pa,-ticipaUon penalty .Is cOMputed on the total of the till< and Int.r..t a......d, and not paid bIIfor. January 18, 1996, the first day aft.r the and of the tal< alllnesty p.riod, INTEREST I Int.r..t I. charged beginning wAth first day of delinquenoy, or "Ine (9) .onths and one (I) day frail the data of c18ath, to the date of pay.ent. Tal<u which bae.lle delinquent befon January 1, 1982 b.ar lnt.r..t lit the rata of .11< (6%) p.rc.nt per annu. calculat.d ata dally rate of .000164. All tal<es which b.ea.e dallnqu.nt on and aftar January I, 1982 will baar Int.rast at a rate which will vary frOM oalandar year to calendar year ~lth that rate announoed by the PA Dapart..nt of Ravanue. Th. applicablll Interast ratas -for 1982 th,'ough 1999 arat Vlllr Intara.t Rate Dally lnter81t fNotor Yanr Int.rost Rate Daily Int.ralt Faotor 1982 20Y. .00054& 1988~1991 11% .000301 1983 16% .000438 1992 9% .000241 1984 11% .000301 1991-1994 7'1. .000192 1985 13% .000356 1995-1998 9% .000247 I... 10% .000274 1999 n .00OI9i': 1987 9% .000247 --Int.r.lt I. calcul.tad a. follow.' INTEREST . BALANCE OF TAX UNPAID X NUNBER OF DAYS DELINqUENT X DAILY INTEREST FACTOR ....Any Notice h.ued _H.r the tax beOOlltlS dellnq~lan' ..Ill 'raflact an lnt....st oaloulatlon to flft.en US) day. bayond the date of the as......nt. lf pav..nt I. .ade nft.r tho Intar.~t c~utatJon date .hOWn on th8 Motlca, additional lnt.r..t lRl.t b. calculatad, l'. . (I a I.) ..,,),/7 ~!V1 COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE NOTICE OF DETERMINATION AND ASSESSMENT OF PENNSYLVANIA ESTATE TAX lASED ON FEDERAL ESTATE TAX RETURN * c.... BUREAU Of INOIVIDUAL TAMES INHERITANCE lAM DIYISION DEPt. Z."OI HARAlSIURO, PA 1712e~06Cl m-ul U." 1~1.t11 ROBERT R CHURCH ESQ KEEFER ETAL 1'0 BOX 11963 HBG PA '1'71 08 DAn: 07-05-1999 ESTATE OF COLARUSSO JOSEPH R DATE OF DEATH 11-30-1997 FILE NUMIER 21 97-0998 COUNTY CUMBERLAND ACN 201 [~ !ft~nr R~lttod.. -J MAKE CHECK PAYABLE AND REMIT PAYMENT TOI REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE. PA 17013 MOTE, To in.Yre p,'oper credit to your .ooO\lnt, .ubllU the upper portion of this for.. with your t.x p.y..nt. CUT ALONG THIS LINE .. RETAIN LOWER PORTION FOR YOUR FILES ~ R-iv:4ii--EX-iiFP--(oi:-97l-----ii.-NOificif-op.-iETifRMiiiATiiiN-Aiii-AiisESiiMENif---------------------------- OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL ESTATE TAX RETURN .. ESTATE OF COLARUSSO JOSEPH R FILE NO.21 97-0998 ACN 201 DATE 07-05-1999 ESTATE TAX DETERMINATION 1. Credit For Stete neeth Texes es Verified 15.697 .01. 2. Penn.ylvenie Inheritence Tex Assessed (Excluding Discount end/or Interest> 34.885.44 3. Inheritanoe Tex A.sessed by Other Stetes or Territories of the United States (Exoluding Di.count end/or Interest> .00 4. Total Inh.ritence Tax A......d 34.885.44 5. Penn.ylvanie E.tet. Tex Due TAX CREDITS I PAYMENT DATE DISCOUNT (+> INTEREST/PEN PAID (-> AMOUNT PAID RECEIPT NUMBER TOTAL TAX CREDIT .00 BALANCE OF TAX DUE .00 INTEREST AND PEN. .00 TOTAL DUE .00 ftIf rAID . AftER THIS DATE. SEE REVERSE SlOE (If TOTAL DUF. IS LESS THAN il,-iiOPAYHENT is RE~IIIREO fOR CALCULATION Of ADDITIONAL INTEREST, If TOTAL DUE IS REfLECTED AS A "CREOIT" ICRI. YOU HAY BE DUE A REfUND. SEE REVERSE SlDE Of THIS fORH fOR INSTRUCTIONS. I .00 f'IJIItNltlOl' NOTICE. 10 fUlfill the roqulr...ntl of SloUon U,.S (b) of the Inherltancl lOCI Elt,t. "M Aot, Act 21 of lCJ95. (11. P,S. Seotion'I"S). PAVNEMT I Dlitlch thll tOP porU~ 0' thit Kotlctl -"' lubIIU "lttl your "Iy..nt to t.,. RIght.r of WUI. printed on the rlvlr.. .ieM. _~ Make ohtHlk or 110M>' order ply.de tOI REOISTER OF MILLS, AORNT. OIJECTIOMSt Any party In lnt.relt not .atl,fied with t~ .5.....-nt of tax .1 shown on thit notice "Y object within .1Kty (60) day. of r,cIlrt of thl. Hotlce byl -MwrlUIIl prote.t to th. PA Depl'lrt..nt of RlVlnue, 8ulIrd of Appeals, Dept. 261021, Harrishurg. PI. 11128MID21, OR --1110tlng to haV' the ..tt.r deter.inld at ludit of thl p.r.onet repr...ntetlvl, OR -MltPp..l to thl orphlnt' Court. A r.fund of . tilt cr.dlt HY " rlqu4lllted by cOIIPleUntI Ml "AppllolUon for M.fund of p.,-.nlylvllnl. InherltlinCe lIl1d [I..t. 11)1" (REV-UUL Application. arl avaUlMJle .t ttw Offial of thl Rqbter of MIUI, any of ttw U ReVlnuIt Dbtriot OffiClI' or frOll the hPortHnt" Z4-hour anllHlrlng s.rvlcl nullben 40r fora. ordedOlI In pennsvlvani. 1~800R362-2050, outdd. p.nnly1vanh, end within locel Uerrhburu ana (117) 187-8094, TDD' (117) 712-225Z (H.ering lapair.d Onb). AffUMD (CA) I ADNIN- JSTR"TIVE CORRECTIONS' Fectual .rrors dllcov.rMd on this .~~e..~.nt Ihould bt addr.l.ed in writino tal PA D.part..nt of Aev~~, lureau of Individual T.lCII, AnNl POlt AII...a.nt A.view Unit. Dept. 280601, Harrhbtlrg, PA 11l2IH)601, Phone (711) 117-6505. S.. pall' 5 of the booklat "In.truc\1on. for Inherltance TalC Aeturn for a R6ltldent nacedent" (REY-1S0\) for an eMP1.n.Uon of adttinhtretivelY correctabla "'rora. PENAL TV I The 15~ t.lC .-ne.ty nonRPlrticlpatlon p.nalty 11 c~ut"d on the tot.l of thl t.lC end int.reat ......ad, and not p.ld before JIMlU.ry 18, 1996, thl fir.t day after tht .nd of the tlllC MlflI'ty p.rlod. This non-parUcipation penalty 11 ~.lable In thlt .... ..nnar and in the the .... U.. pflrlod .. you would 1IPPI.1 the talC and Inter..t that ha' bMn .......d 8. indlc.t.d on thltnotlce. for d.t.. of death on or .ft.r 10-5-91, p~n",Ylv.nla E.t.t. TOlC ba.ed on the Foder.1 E.t.te 1.~ return bIIcOH' delinquent .t the elCpiration 0(- nine (09) ItOnth. fro. the data of deeth. INTEREST 1 For d.ta. of death pdor to 10-3-91, Pann.ylvanl. E.tata TalC b..ed on thtl fader.l E.t.t. h~ return bile..." dallnquM1t at the IIMPlr.Uon of .I.ght..n (UU IIDnth. frOll ttM date of d.ath. lalC.' whioh bee" allnquent before J.,luarv 1, 198Z beer int.r.st .t the rat. of .b (6~) ~rQent per ennUi e.lculat~ at e dall~ r.t. of ,00016~. All te~.' Nhlch hee... all~t on or .fter January 1, 1'62 Ml.ll bear intere.t at a rat. ~IClh wll1 ,,"ry frOll cl!ll.ndar- y.ar to eel8ndar y..r ..1th that rat. annGuocad by tile PA Depart..nt of M.venua. 1ha applicebl. Int.r.,t rat.. for 1911Z through 1994 er'l V.ar tnt.rest R.te Ol!llh Inter..t rector V..r Int.r,..t Rat. Dally tnter..t F.ctor 1462: tOZ .OOOS~8 llJlIlI~11J91 HZ .000101 1965 16X .000438 191JZ 'I:'. .MUtt1 1914 11% .000301 199!oR1994 7/: .000192 19I~ 13:< .000356 lQ9SR11J98 9:% .000247 1916 10;: .OOD27~ .... n .000192 1917 9X .000Z47 ~~]nt.re.t i. calculat.d a. follo..'1 INTER2ST . RALANCE OF TAX UNPAID X NUNRER OF DAYS DELINQUENT X DAILY INTER2ST FACTOR ~-AnY Notice I..ued aft.r the taM bac~' delinquent will r.fl.ct an Intere.t calcul.tlon to fifteen (1&) days beYond the dIIte of the ...as,""t. If paYHnt h.. after the Intere.t cOItpUt.Uon ut..~ GO the Hotlc., additional Inter..t .u.t be caIOul.ted. COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE NOTICE OF DETERMINATION AND ASSESSMENT OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL CLOSING LETTER DATE ESTATE OF DATE OF DEATH FILE NUMIIR COUNTY ACN BUREAU Of JNOIVJDUAl TAMES IHHERIT.~r.[ TAM DIVIGIDM DEPT, 2e0601 HARMISltMfO, PA 1112&40601 ROBERT R CHURCH KEEFER ETAL PO BOX 11963 HBG ESQ PA'11108 (; ./ ,.,.' *' In.,,, u m 111.'11 07-13-1999 COLARUSSO 11-30-1997 21 97-0998 CUMBERLAND 202 f :--'ii;~'!"t Re.m.d-' ] MAKE CHECK PAYABLE AND REMIT PAYMENT TOl JOSEPH REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 MOTE I To in.ure pl'oper credit to your' aooount, 8ub..tt th.. upp.r porUon of this forlN with your ta)( PDYHnt. CUT ALONG THIS LINE ... RETAIN LOWER PORTION FOR YOUR FILES ~ iily:7ici"iicu"FjI-Tcii-:m- nu.-.-Noficrcir-IiE'i'ERM'iNATiori-Aii.rAijsiiisMEN"f'.---- m___num___m_ - -- OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL CLOSING LETTER .. ESTATE OF COLARUSSO JOSEPH R FILE NO.21 97-09ge ACN 202 DATE 07-13-1999 ESTATE TAX DETERMINATION 1. Credit For State Death Taxes as Verified 2. Pennsylvania Inheritence Tex Assessed (Excluding Discount end/or Interest) 3. Inheritence Tax Assessed by Other states or Territories of the United States (Excluding Discount end/or Interest) 4. Totel Inheritance Tax Assessed 5. Pennsylvania Estate Tex Due 15,697.03 34,885.44 .00 3~i885.44 6. Amount of Pennsylvania Estate Tax Previously Assessed Basad on Fader'd Estate Tax Return 7. Additional Pannsylvania Estate Tax Dua TAX CREDITS I PAVMENT DATE RECEIPT NUMBER DISCOUNT (+) INTEREST/PEN PAID (-) AMOUNT PAID L .00 .00 .00 .00 TOTAL TAX CREDIT BALANCE OF TAX DUE INTEREST AND PE:=j "OTAL DUE lXf TOTAl DUE XS lESS TNAN '1, NO PAY"ENT JS REQUIREO IF TOTAl DUE IS REFLECTEO AS A "CREDIT" (CRI, YOU "AY IE DUE A REfllllD. SEE REVERSE SJDE Of THXS fO,," fOR INSTRUCTXONS. I "If PAID AfTER T"IS DATE, SEE REVERSE SIDE fOR CAlCULATION Of ADDITIONAl INTEREST. R .00 .00 .00 ,.. PURPOSE Of MOTlCEI PAVMENTl REfUND (CR)l OI.JECTlONS I ADMIN- ISTRATIVE CORRECTlOMS I PENALTY I INTEREST I To fulfill the requlr...nts of s80tlon 21~S (b) of the Inheritance and Est.t. T.~ Aot, Aat 21 ,of 1995. (12 PiS; SeoUon 9145). lNItach thll tqp pCJrUon of this NoUoe end sub"lt with your pey..nt to the R.,i.ter of WUh printed on thtl reVer'llI Ilde. __ Hike ah.ok or IOney order payable tOI REGISTER OF MILLS, AGEMT. A ,'.fund of " telC Clredlt ..v be requ8litad b~ cOlllplet1ng an "AppllCl8tioll for Refund of PennlYlvant" Inher't~. and E,t.tv Tax" (REV-ilI3). Applications era available at the Offl08 of the Aegltter of Nill" any of the 23 M.....nu. Distrlot Office' or frOM the 08Pftrhlont's l4~hout. en..,.dng ..rvl08 nUllherl for for.. order1"gl In Pennlvivant. 1-800-162-2050, ~ut.hj. Pennsylvania and within looal Harrllburg aree (717) 76;t~6094, TOOl (717) 77Z~Z252 (Hearing IIIP~ir.d OnlY). Any Pltrty In Interut not ..Usf1.d with tha 1lI,.u.ant of talC as .hown on thh notlc. "ay objeot within .ixty (60) d~Y' of rlceipt of th1s Notice bYI -~wr1tten prote.t to th. PA o.part.ent of Rellenlla, Board of Appeals, nept. zalQtl, HarrlebUrg, PA 111Z8~1021, OR u.lecUng to havlI thll .att.,. dllt.r.ln.d at audit of the personal r.pr..entative. OR --appaal tD the Orph*ns' Court Factual arror. discovered on this alllu..ent .hould bll addr....d In WrlthlA to: PA O.part.vnt of Rlvenue, lurllu of Individual T.)(e., ATTH: Post A..e...ent R.vlaw Unit, V.pt. Z60601, H.rr1.burg~ PA 17128-0601, Phone (717) 187~650S. S.. paga S of the booklet "Instruction. f(lr Inhefltanc. T.l( Raturo fur II R."hkmt Decadent" (REV~IS01) fer an .xplanat10n of ad.lnl.tratlv.ly correctablll .1'1'01". Th. 15% tax ..n..ty non~p.rtlclp.tion pllnalty 1. COMPuted on the total of the t.x and Intere.t a......d, and not paid be for. Jlnuliry 18, 1996, the first day after \11. and of the tax alUl8'ty plrlod. This non~p.rtlolp.t1on penalty is epp8lllabll In the la.e '11","1' Ilnd In fha th. .all. ti.e p.r lad liS you would app..1 the tal< ..nd Intar..t that h" b..n ......ed .8 Indica tad on thl. notlc.. Additional P.nn.ylv.nl" E.tatll TaM ..n....d u 8 r..ult of l) chung. on the F.d.ral f:,tftte Ta)( (lloslng 1att." beao.., d.Unquaflt at the .I<plratlon of one ()) Month frOlI the date thl! final notice of the Incr."" In F.d.ral E.t.t. T.x I. recelv.d. T.M.' Mhlch bec'" dellnqu.nt b.fera Janunry I, 198Z bear Int.re.t at the retll ef .Ix (6/D parc.nt p.r annuli c.lcul.tad at a d"lh rete of .000164. ^11 tal(u which b.c". d.llnquent on or IIlU.r January I, 1982 will ~.r Inter..t ftt . rete IIthloh w111 vary fro. oahndl'lr .....1' ttJ celendef y.ar with that rate announced by the PA D8p.rt..nt of R.venue. The appllc8bl. Intere.t rat.. for 19ft? through 1999 .1'.' '!!.!r Int.r..t Hilt. Dally Intarast fU(ltor :!!!! Int.r..t Rata Dalh Int.rut ~'.ctor 1982 20% .000541 198"~1991 11:1. .000301 1985 16:1. .000438 1992 91. .000247 19M 111. .000301 1993~1994 1% .100192 191& 11% . 0003~6 19fJS~199a 9X .OU0247 1'16 101: .100274 IfJ99 7% .000192 l'II\7 9% .001247 --Inter..t I. calculated a. fell~'l I"TEREBT ~ IALA"CE OF TAX U"PAID X "U"IER OF DAYS DELI"QUE"T X DAILY I"TEREBT FACTOR "~An... Notlc. ...ued after the t.x MootHlll delinquent Mill r.flact an lnterelit cftlc:uletlan to flft..n (l!i) day. lMvoJld tile date of the ........nt. If p..,...lIt Is .rlde flfter thlt lntara.t (loaputatlon dat. thoWn on the Notlca, additional lntere.t au.t ~ calcul.ted. "". ~\. IN THE MATTER OF THE ESTATE OF JOSEPH R, COLARUSSO, DE.CEASED : IN THE COURT OF .COMMON PLEAS . : CUMBERLAND COUNTY, PENNSYLVANIA : ORPHANS' COURT DIVISION .: NO: 1997-0998 I".STATE SETTLEMENT AGREEMOO THIS AGREEMENT, made this 2. 7 day of ~tA q?t' ~t ,1999, (I WITNESSETH: THE CIRCUMSTANCES leading up to the execution of this Agreement are as follows: 1. Joseph R. ColarussO (the "Decedent"), a married man. late of Hampden Township, Cumberland County, Pennsylvania, died testate on November 30,1997, and Louise H. ColarussO duly qualified as Executrix (the "Executrix") of the Decedent's . probate estate (the "Estate"). 2. The Decedent's Last Will and Testament, dated September 9, 1988 (the "Will"), provides a pecuniary legacy. equal to the Decedent's available federal estate tax credit equivalent. to a testamentary trust (the "Bypass Trust"). As provided in the Will, the trustees of the Bypass Trust are the Decedent's son Michael J. Colarusso and Hamilton Bank. now by merger, First Union National Bank (collectively, the "Trustees"). The residue of the Estate passes outright to the Decedent's surviving spouse, LouiseH. Colarusso (the "Wife"). 3. The Decedent was survived by his spouse, Louise H. Colarusso, and by four adult children, Thomas H. Colarusso, John P. Colarusso, Michael J. Colarusso and ". Susan M. Saldo. Louise H. Colarusso, Thomas H,Colarusso, John P. Colarusso, Michael J. Colarusso and Susan M. Saldo (collectively, the "Beneficiaries") desire the Executrix to settle the Estate Informally In order to avoid the expense and delay Involved with a formal adjudication of a First and Final Account by the Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania (the "Court"). Based upon the agreement of the Beneficiaries, the Trustees are willing to acquiesce In this Informal closing procedure. 4. The Trustees and the Beneficiaries desire to forever settle and compromise any and all claims and rights which they may possess, now or hereafter, in the Estate and to confirm their acceptance of the Informal Account (the "Account") and the Schedule of Proposed Distribution (the "Schedule"), both of which are attached hereto as Exhibits "A" and "B", respectively, and which are incorporated herein by this reference. The Trustees and the Beneficiaries desire the distributions to the Trustees, as set forth on Schedule "B," to be in full satisfaction of their rights in the Estate. 5. The Beneficiaries wish to release the Executrix and to indemnify her against any and all claims that may be asserted against the Estate or the Executrix after the date hereof. The Beneficiaries also desire to release the Trustees with respect to their waiver of a right to a formal adjudication of a First and Final Account of the Executrix. 6. The Executrix and the Trustees are willing to settle the Estate Informally in consideration of the Indemnifications hereinafter provided by the Trustees and the Beneficiaries, 2 I ,\ "' ~. , NOW THEREFORE, In consideration of the foregoing, and Intending to be legally bound, Jointly and severally, the Trustees and the Beneficiaries, for themselves, their heirs I successors, and assigns, agree as follows, to wit: A. Represent and warrant that they have read and understand this Agreement and confirm that the facts set forth above are true and correct, to the best of their knowledge, Information and belief. B. Declare that they have sufficient Information to make an Informed waiver of their right to a formal accounting with the Court, and do hereby waive the filing and auditing of the same. C. Acknowledge that the distributive share or amount set forth on the Schedule shall be In full satisfaction of their respective entitlements under the Will. D. Release, remise, quitclaim and forever discharge the Executrix, her heirs, personal representatives, successors and assigns, from and against all claims the she, as legatee of the Estate, or Indirectly as beneficiaries of the Trust, and In connection with the Estate, had, now have or may In the future have In connection with the Estate. E. Release, remise, quitclaim and forever discharge the Trustees, and their successors and assigns, from and against any and all claims that the Beneficiaries may have against the Trustees In connection with the Trustees' waiver of their right to a formal accounting by the Court. . F. Agree to refund, on demand, all or any part of any aforesaid distribution, which has been determined by the Executrix, or by the Trustees, or by the Court, or by any court of competent Jurisdiction, to have been Improperly made. G, With respect to the Beneficiaries only (and not the Trustees), agree to Indemnify and hold harmless the Executrix, her heirs, personal representatives, successors and assigns, from and against any and all claims, loss, liability or damage (whether or not related to the negligence of the Executrix) that may hereafter be asserted against the Estate or against the Executrix. 3 . , H. Agree to execute such other or additional documents as may be . necessary to effectuate the agreements set forth herein. \. Acknowledge that this Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. J. Consent to the Court exercising personal Jurisdiction over them In any suit or action arising out of the enforcement of this Agreement. IN WITNESS WHEREOF, the parties have set their hands and seals to the Consents attached hereto, to be effective as of the date first above written. ii, 4 Receipts of .p~indipal (Collt: inUed) li2n.fJ.~~~~2.lIJ.lJ~ Dean Witter Li i Acct, 1/41.0,'01'8;:)0 d ASset F'llnd, $ grUdentia.1 Secur/tie ommand Tax F'ree M .S II.cct, I/041"2363'11_~,~ey F'Ul1d, Total Money Ma.rket/CM> A ,.'" cCCllnts ~al1ce POI b ~~tor Government [if "--. POl icy 1/ V 1" e InSUrance Estate 6103544, Paid to rOt,r In''''n, , ~" .e ClYable to ExecUtor. -..... !}~ DSCln Witter 8 1 TrUSt Unit Na~.ect Municipal 8sr.. 52 ~onal, Long term No. of ~ 23 1,630 Dean Witter Tax-Exem t $ (held in ac~ 1/410 P Sec. D 500 ~. -018170_0_08) Municipal Inc TrUSt II ome OPPortunities 40 Municipal I FUnd Units ~:::~ment TrUst 18 !'State PA 1/31 Municipal I FUnd Unit M~:~tment TrUSt 11 ~State, PA 1/ 9 Municipal In FUnd Unit vestment TrUSt 17 s, PII., Ser. A Municipal In FUnd Units MV:Stment trUSt 10 u t~State, PA. 1/ 5 PennsYlvania I . InCome TrUSt un~Ureq Municipa.l IS nHs Ser, 1/ 11.5 PennsYlvania Ins InCOme TruStu ,Ured Municipal rllts Se,,,. /I l.?s P'-9'.:"f~ 5 "1). 369,53 lnV/;lntOJ;'y Value ~ ----~ ~2.,~ 8,475.61 19,560,40 4,289.06 41,058,50 19,298.79 2,377.76 15,486'66 7,641.50 14,714,46 8 047,79 Gains and Losses ori Sal~s or Other DiSPositions Net oain Net LosS Date Description 12/26/1997 Ret of principal: o Unit Municipal Investment Trust Fund units Multistate PA #31 Net proceeds $ 39.60 carried at 39.60 ----- -- ,12/26/1997 Ret of principal: o Uni t Municipal Investment trust Fund units Multistate, PA # 6 Net proceeds $ 19.38 carried at 19.38 ......... 12/26/1997 Ret of principal: o Uni t Municipal Investment Trust Fund Unit Multistate, PA # 9 Net proceeds $ 51.84 Carried at 51.84 ........... 12/26/1997 Ret of principal: o unit Municipal Investment Trust Fund units, PA, Ser. A Net proceeds $ 59.73 Carried at 59.73 - 01/02/1998 Redemption: 20,000 Pal' Allegheny County, PA Airport Revenue 7.75% due 01/01/~9 oreater pittsburg INTL ARPT Ser. D Net proceeds $ 20,000.00 Carried at 20,000.00 .......... 01/21/1998 collection: Government Life Insurance policy # V 16103544, paid to .Sstate Net proceeds $ 8,047.79 Carried at 8,047.79 Ret of principal: o unit. Balcor Realty Investors :imited partnershiP Net proceedS $ carried at ,.,' 01 27/19:.3 L'l'D-82 33.44 33.44 ,......... .......... J'" !';li ?::\':2~ Disburse~ents' of pdncipal Date Amount Paid Paid pebts of Decedent Andrews & Patel Associates, P.C. 02/03/1998 $ 285 ,1..Q. Total Debts of Decedent $ 285.10 Administration Expenses CoreStates Bank 01/29/1998 Checks ordered for the Estate's checking account $ 2~ ,'54 Louise H. Colarusso, Executrix 02/25/1998 600,00 Prudential Securities Inc. 06/17/1998 Acc. Transfer Service Fee 50..00. Register of Wills, agent, 08/26/1998 Filing Fees 55,00 Prudential Securities Inc. 01/11/1999 Service Fee 57,92 Total Administration Expenses $ 785.46 Federal and State Taxes Register of Wi 11s, agent 02/25/J.998 Estimated PAl pre-payment $ 30,400,00 Register of Wills, agent, 08/26/1998 PAl balance due 4 , 48 5 , 44 Total Federal and State Taxes $ 34,885.44. Fees and Commissions Register of Wills, agent, 12/19/1997 - filing fee $ 4U .00 Beard & Company, accounting services to 6-26-98 08/25/1998. ).,47.5.00 ?ag7: ( 17) , Information schedules - principal (continued) Changes in Investmen!-Holdin~~. (continued from previous pagel distributed to Louise Colarusso individuallY for administrative convenienoe $ TO Louise H, Colal;uSSO Cost (43.86 ) ~~~=~m~m~D~==~D~~ =~~RS=.~D~D=D~.~ P ~'v~E\ 7 (~.8 ) Receipts of Income (continued) Pennsylvania State O.neral obl.igiltion Znd Ser. A 1988 Full Faith & credit "/.30% due OSL1S/Z003 0S71S798 Interest on ~-To', 000 par ~ 365.00$ 365.00 Barnett Bank N. A., Certificate of Deposit >>003488571 7 0472 B / 98 I nteres~--.-'- Gees Accrued portion 0.98 (0.9j,l $ 0.00 Barnett Bank N, A.. eel:dUcate of Deposit #0034928298 04/28/98 Interest Less Accrued portion 3,64 (3,64) $ 0.00 CoreStates Bank, IRA #9513293919348034 (Beneficiary, Louise H. Colarusso. disclaimed.) 11/19/98 IIWest- Less Accrued portion 6,970.92 (257.,31$) $ 6,713.56 CoreStates Bank, IRA #9513293919348042 (Beneficiary, Louise H. Colarusso, disclaimed.) 11/19/98 Interest Less Accrued portion 7,048.79 (257.36) $ 6" 791 . 4 3 Mell:)n Bank. Interest checking account #112-109-0458 01/27/98 Interest LesS Accrued port ion 18.96 (4,43 ) $ 14.53 Dean Witter Liquid Asset Fund. .b.cct. #41:)-018170 12/22/9') Dividend 12/31/97 Dividend ~1/30/98 Dividend 02/23/98 Dividend $ 1.20 1.13 3.70 3,12 ('32) :''\:)'" , .. 9.15 Receipts of Income (Continued) Morgan Stanley Dean Witter Liquid Asset Fund .. Account;: H410-050019-008 -~.- 06726/98 DivIdend $ 168,40 .06/29/98 Dividend 32,61 06/30/98 Dividend 10,90 07/06/98 Dividend 64,65 07/14/98 Dividend 319.17 07/15/98 Dividend 62.41 07/20/98 Dividend 112,.66 07/22/98 Dividend 45,21 07/27/98 Dividend 116,43 07/31/98 Dividend 94,00 08/31/98 Dividend 723.23 09/30/98 Dividend 702.14 10/30/98 Dividend 693.84 11/03/98 Dividend 90.65 11/18/98 Dividend 369,70 11/27/98 Dividend 209,13 11/30/98 Dividend 127.17 12/31/98 Dividend 1,310.59 01/05/99 Dividend .209.02 01/08/99 Dividend 77.99 01/29/99 Dividend 544.78 02/26/99 Dividend .715.68 03/31/99 DJ. vidend .828.01 $ , 7,628.37 prudential Securities Comma~d Tax Free Money Fund, Acct. #044-236311-24 12/30/97 Dividend $ 25,99 01/23/98 Dividend 57,40 01/26/99 Dividend 2,62 01/3a/98 Dividend 2,47 02/24/98 Dividend 110 , 00 03/24/98 Dividend 14,00 04/24/98 Dividend 12 :00 OS/26/98 Dividend 33,00 06/24/98 Dividend 79,85 337.33 ?a';'d '(33 ) , Receipt.s of Income (Cont.inued) Northbrook L,ife Insurance Co, Annuity policy #501.8004151 held in Dean Wl,t.ter Reynolds, Inc, account. Louise H, Colarusso was the designated beneficiary and also the contingent owner. The decedent's remaining cost. basis in t.his annuity was $21,612 as of t.he date of death. 01/07/98 Int.erest $ 336,66 01/20/98 Interest 336.86 $ 677.72 Dean Witter Select Municipal Trust Unit National, Long term Ser. 52 12/15/97 Interest on 23 Unite$ 48.30 01/15/98 48.53 02/17/98 48,53 03/16/98 48,53 04/15/98 48,76 05/15/98 48.76 06/15/98 48.99 340.40 Municipal Income Opportunities Trust II 12/19/97 Interest on 500 Units$ 22.50 01/23/98 22.50 02/20/98 22.50 03/20/98 22.50 04,'17/98 22.50 05;22/98 22.50 06/19/98 22.50 157.50 Municipal Investment Trust F'und Units Multistate PA #31 . 12/26/97 Interest. on 40 units$ 186.80 01/26/98 186; 40 02/25/98 186.80 . 03/25/98 186.00 04/27/98 186.40 OS/26/98 186.00 06/25/98 187.20 1,305.60 Municipal Investment Trust F'und Unit Multistate, PA # 9 12/26/97 Interest on is 'unit s$ 98.46 01/26/98 98,46 ?age 6 (34) Gains and Loase9 on sal~B ov Other DlsPo9ition~ of InCome Assets Net.'L099 Net oain Dat.e Description ..--'"------'~... ~---...........---"-- Tot.al Clains and Los8e~ $ 0,00 $ o .00 ,". Page . .. -t H .J ;,1 Z c( ,.) ;,1 I P< ~ c( iLl Z ;,1 Cl: ::r: 0 zo, 0 ;,1 , H Ul 0 H i>:: (/l ~ Ul :c Ul t.:J r ~ ::0 :;: H -t Z w~ Ii> 0 ;r. 0 > I~ '" ~ 0 " ~-tCl u:>< H H f. - ,- X 0...1 ;~ H P Z _I v) r-. , .J : - -1) ;,1 OUl ~ Z ;,1 <( Ij ~ '(Ii-: H ;,JU-t 0::0 H :;: Z 0 n.,. E-< H ;,1 0 P::oo ;,1 ci ~mo -t -t .u H U.o:::> '" ...1 o ~ 0 ~ ' :;: Hi>:: iLl i>:: H 0 '" H Cfl Cl ::OClZUO H 00. m ;,1 ;,1::r: o Z.o: I ;,1 ~ - " N . :r: 0., U ~ >.. r-- Cfl . H ;,J ...1 "' Ul '" Ii < Cfl iLl ;r.?! Z 0'\ ~J I Z 0 ::r: ;,Lllfl ~ ,-j H W l H t-, H caz~ -t ll. ~ZP-l . H W Z ::0 "1 i>: 0 Cfl W H U ,,"0 Z iLl ~ '. . .