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Home My WebLink About06-15-06 t RIV-'UHU:(MIl , . REV-1500 INHERITANCE TAX RETURN RESIDENT DECEDENT COMMONWEAl. TH OF PENNSYlVANIA DEPARTMENT OF REVENUE DEPT. 280801 _.______~~AIlRISBUFlG' p~8-~.!.....__ . OFFICIAL USE ONLY ALE NUMBER 21 06 ..___L COUNTY CODE YEAR . --- -I SOCIAL SECURITY NUMBER 180-22-9834 00034 NUMBER I- Z W C w lil C i DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL) j Marchinetti, Virginia M. ~~~~;:~M~DD:YEAR) . 'T:;~~~I~~H~-;M-DD:YEAR)~--------- (IF APPUCABLE) SURVIVING SPOUSE'S NAME ( LAST, FIRST AND MIDDLE INITIAL) THIS RETURN MUST BE FILED IN DUPUCATE WITH THE REGISTER OF WILLS SOCIAL SECURITY NUMBER ~_.~-- ~-_._~_. LJ 3. Remainder Retum (dete 01 death prior to 12-13-82) --~t~-~_. _m__u_._... , 101 1. Original Return ..... _-,-,---;:._u._____ .. .. _.__ . ... _._ ._. LJ 2. Supplemental Return W I- ll:~~ lil~8 :z:i... 1.l~1lI ~ 6. Decedent Died Testate (Attach copy 01 Will) 9. Litigation Proceeds Received 4a. Future Interest Compromise (dete of death after 12-12-82) 7. Decedent Maintained a Living Trust (Attach copy 01 Trust) 10. Spousal Poverty Credit (dete 01 death between 12-31-91 and 1-1-95 4. Limited Estate chI- ~ffi II:c OZ l.l~ 3. Closely Held Corporation, Partnership or Sole-Proprietorship Z o ~ ::> l- ii: ~ II: 4. Mortgages & Notes Receivable (Schedule D) 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) 6. Jointly Owned Property (Schedule F) o Separate Billing Requested 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G or L) 8. Total Gross Assets (total Lines 1-7) 9. Funeral Expenses & Administrative Costs (Schedule H) 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) E i Richard E. Connell, Esq. FIRM NAME-(lf;P~;;;;'b1e) i Ball, Murren & Connell ~ELEPHONENUMBEFI--~--~~---~---- =-=-_L2p-87~ 1 I 1. Real Estate (Schedule A) I 2. Stocks and Bonds (Schedule B) 11. Total Deductions (total Lines 9 & 10) 12. Net Value of Estate (Line 8 minus Line 11) o 5. Federal Estate Tax Return Required o 8. Total Number of Safe Deposit Boxes o 11. Election to tax under Sec. 9113(A) (Attach Sch 0) -,-1 I (1) (2) (3) (4) (5) (6) (7) 2303 Market Street Camp Hill, PA 17011 r'--.) ~..:> o > FFICIAL Ue::.oNL Y n c~: 11""1 C) (~ :.U '_ i ~~.~ --' "':'."J -; C) , -r, - -'-/ .: i'::,~~ - S~~i 139,590.00 145,692.50 'I' - :-J (..;-j None ,.-......-........ '.J ~: -- 'I J ~~':. None I,:") 35,645.00 ---_._--_._-_.._-~ 2,360.66 49,539.14 o (8) 372,827.30 (9) 9,984.16 8,020.24 (10) (11) 18,004.40 354,822.90 (12) 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) 14. Net Value Subject to Tax (Line 12 minus Line 13) SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES x .00 (15) 15.Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116(a)(1.2) Z o 1= ~ ::> ~ :. o l.l S 16.Amount of Line 14 taxable at lineal rate ! 17.Amount of Line 14 taxable at sibling rate , i 18. Amount of Line 14 taxable at collateral rate i 119. Tax Due I I 20. 181 (13) (14) 354,822.90 354,822.90 x .045 (16) 15,967.03 x .12 (17) x .15 (18) (19) 15,967.03 --------~-- CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENl Copyright 2000 form software only The Lackner Group, Inc. Form REV-1500 EX (Rev. 6-00) ~ Decedent's Complete Address: STREET ADDRESS 902 Apple Drive "- CITY Mechanicsburg "--",~~---, - iSTATB PA IZIP 17055 Tax Payments and Credits: 1. Tax Due (Page 1 Line 19) 2. CreditslPayments A. Spousal Poverty Credit B. Prior Payments C. Discount (1) 15,967.03 15,485.00 798.35 Total Credits (A + B + C) (2) 16,283.35 3. InterestlPenalty if applicable D. Interest E. Penalty Total Interest/Penalty (0 + E) 4. If Line 2 is greater than Line 1 + Line 3, e.nter the difference. This is the OVERPAYMENT. Check box on Page 1 Line 20 to request a refund 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. A. Enter the interest on the tax due. B. Enter the total of Line 5 + SA. This is the BALANCE DUE. 0.00 ---_._--~ 316.32 (3) (4) (5) (SA) (5B) 0.00 Make Check Payable to: REGISTER OF WILLS, AGENT PLEASE ANSWER THE FOllOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred;.................................................................................. ~ I :: ~:::~ ~;e~~:i:~:~:~~;~s~~~.~~~~~.~~~ .~~~.:.~~:.~.~. ~.~~~~.~~~~~.~~.i~.~.~~~~:~~:::: :::::::::::::::::::: ::: :::: ::::: d. receive the promise for life of either payments, benefits or care? .............................................................. 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration?................................ ...................................................................................... D 181 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death?......... D 181 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation?..................................................................................................................... 181 D IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. Under penalties of perjury. I declare that I have examined this retum. induding accompanying schedules and statements. and to the best of my knowledge and belief, it is true, corred and complete. Declaration of preperar other than the personal representative is based on aU information of which preparer has any knowledge. SIGNATURE OF PERSON RESPONSIBLE FOR FILING RETURN ADDRESS Kathy . R Dol s ill___ ~___}~;JI~~~-}k ?fl>'11____ ~u____ SIG T R OF PE ON RESFONSI E ADDRESS DATE __nu&_=~O_~_ DATE ADDRESS DATE 2303 Market Street CampHill,PA 17011 (0.- 1"-/_( For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3% [72 P.S. S9116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the survivin9 spouse is 0% [72 P.S. S9116 (a) (1.1) (ii)]. The statute does not exemot a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is 0% [72 P.S. S9116 (a) (1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5%, except as noted in 72 P.S. S9116 1.2) [72 P.S. S9116 (a) (1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12% [72 P.S. S9116 (a) (1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. . SCHEDULE A REAL ESTATE COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RET\JRN RESIDENT DECEDENT ESTATE OF M h' . V' .. M I FILE NUMBER arc mettl, rrgmla . 21 _ 06 _ 00034 All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a wimng seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property which is jointly-owned with right of survivorship must be disclosed on schedule F. ITEM NUMBER 1 DESCRIPTION VALUE AT DATE OF DEATH 139,590.00 902 Apple Drive Mechanicsburg, PA 17055-3407 Tax Parcel # 17-23-0563-114 _____mm___~__._m______________m___~ ___ TOTAL (Also enter on Line 1, Recapitulation) 139,590.00 *' SCHEDULE B STOCKS & BONDS COMMONWEALTH OF PENNSYlVANIA INHERITANCE TAX REl\JRN RESIlENT DECEDENT ESTATE OF h" V' .. M Marc mettl, lrgmla . I FILE NUMBER I 21 - 06 - 00034 All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER 1 DESCRIPTION UNIT VALUE VALUE AT DATE OF DEATH 95,958.90 The Vanguard Group a. GNMA Fund Admiral Shares CUSIP 922031-79-4 (8043.023 shares) Unit Value - $10.30 Value at Date of Death - $82,843.14 b. Total Stock Market Index Fund CUSIP 922908-30-6 (437.182 shares) Unit Value - $30.00 Value at Date of Death - $13,115.46 2 U.S. Savings Bonds (EE) - Issue Date April 1992 PLEASE SEE A TT ACHED SHEET I U.S. Savings Bonds (EE) - Issue Date December 1992 I PLEASE SEE A TT ACHED SHEET 6,472.80 43,036.80 3 Car Insurance Reimbursement 224.00 TOTAL (Also enter on line 2. Recapitulation) 145,692.50 VIRGINIA M. MARCHINETTI - FILE NO. 21-06-00034 INHERITANCE TAX RETURN SCHEDULE B STOCKS & BONDS U.S. SAVINGS BONDS (EE) Issue Date - April 1992 ISSUE PRICE A. M 43945445 EE B. M 43945446 EE C. M 43945443 EE D. M 43945448 EE E. M 43945447 EE F. M 43945444 EE $ 500.00 500.00 500.00 500.00 500.00 500.00 U.S. SAVINGS BONDS (EE) Issue Date -April 1992 FACE VALUE A. M 43945442 EE B. M 43945441 EE C. M 43945440 EE D. M 43945439 EE E. M 43959809 EE F. M 43959810 EE G. M 43959811 EE H. M 43959812 EE I. M 43959813 EE J. M 43959814 EE K. M 43959815 EE L. M 43959816 EE M. M 43959817 EE $ 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1 INTEREST $ 578.80 578.80 578.80 578.80 578.80 578.80 TOTAL $ 6,472.80 (Continued on next page) VIRGINIA M. MARCHINETTI - FILE NO. 21-06-00034 INHERITANCE TAX RETURN SCHEDULE B STOCKS & BONDS U.S. SAVINGS BONDS lEE) FACE VALUE Issue Date -April 1992 N. M 43959818 EE 1,000.00 O. M 43959819 EE 1,000.00 P. M 43959820 EE 1,000.00 Q. M 43959821 EE 1',000.00 R. M 43959822 EE 1,000.00 S. M 43959823 EE 1,000.00 T. M 43959824 EE 1,000.00 U. M 43959825 EE 1,000.00 V. M 43959826 EE 1,000.00 W. M 43959827 EE 1,000.00 X. M 43959828 EE 1.000.00 U.S. SAVINGS BONDS lEE) Issue Date - December 1992 FACE VALUE A. M 45970352 EE B. M 45970353 EE C. M 45970354 EE D. M 45970355 EE E. M 45970356 EE F. M 45970357 EE G. M 45970358 EE H. M 45970359 EE I. M 45970360 EE J. M 45970361 EE $ 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 (Continued on next page) 2 VIRGINIA M!..MARCHINETTI - FILE NO. 21-06-00034 INHERITANCE TAX RETURN SCHEDULE B STOCKS & BONDS U.S. SAVINGS BONDS (EE) Issue Date-December 1992 FACE VALUE INTEREST K. M 45970362 EE L. M 45970363 EE M. M 45970364 EE N. M 45970365 EE O. M 45970366 EE P. M 45970367 EE 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1.000.00 $ 40,000.00 $ 3,036.80 TOTAL $ 43,036.80 3 . SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN L RESIDENT DECEDENT i I FILE NUMBER 21 - 06 - 00034 ESTATEOF M h' . V' .. M arc mettl, rrgmIa . Include the proceedS of litigation and the date the proceeds were received by the estate. All property jolntly-owned with the right of survivorship must be disclosed on schedule F. ITEM NUMBER 1 DESCRIPTION VALUE AT DATE OF DEATH 21,883.39 Vanguard - a. Federal Money Market Fund CUSIP 922906-30-0 2 1999 Oldsmobile 88 Sedan (4 door) 2,820.00 46,000 Miles VIN - IG 3HN 52KXX 4835560 3 Sovereign Bank 10,441.61 Account # 1685500272 (Certificate of Deposit) 4 Miscellaneous Personal Possessions 500.00 TOTAL (Also enter on Line 5, Recapitulation) 35,645.00 *' SCHEDULE F JOINTLY-OWNED PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT I FILE NUMBER 21 - 06 - 00034 ESTATE OF Marchinetti, Virginia M. If an asset was made joint within one year of the decedent's date of death, It must be reported on schedule G. SURVIVING JOINT TENANT(S) NAME ADDRESS RELATIONSHIP TO DECEDENT A Kathy M. Reynolds 158 Ken-Lin Drive Carlisle, PA 17013 Daughter JOINTLY OWNED PROPERTY: ITEM LETTER NUMBER FOR JOINT TENANT DATE MADE JOINT DESCRIPTION OF PROPERTY Include name of financial institution and bank account number or similar identifying number. Attach deed for jointly-held real estate. DATE OF DEATH % OF DATE OF DEATH DECO'S VALUE OF VALUE OF ASSET INTEREST DECEDENT'S INTEREST U4:7ii.llSO;,,!- 2,360.66 i I A 09/04/1997 Sovereign Bank Account Number 1681707144 (Checking) I I I -~ TOTAL (Also enter on line 6, Recapitulation) 2,360.66 . SCHEDULE G INTER-VIVOS TRANSFERS & MISC. NON-PROBATE PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Marchinetti, Virginia M. FILE NUMBER 21 - 06 - 00034 ITEM NUMBER 1 I I ___J This schedule must be com leted and filed if the answer to an of uestions 1 throu DESCRIPTION OF PROPERTY Include the name of the transferee, their reialionship to decedent and the date of transfer. Attach e copy of the deed tor real estate. DATE OF DEATH % OF VALUE OF ASSET DECD'S (TlA~~~~&>~) INTEREST TAXABLE VALUE VANGUARD a. STAR Fund (IRA) CUSIP 921909-10-7 49,539,14 49,539.14 49,539.14 49,539.14 TOTAL (Also enter on line 7, Recapitulation) . SCI-EDU.E H RN:RAL. EXPENSES & AIl\tftS1RA11VE COSlS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT I I I FILE NUMBER 21 - 06 - 00034 ESTATE OF Marchinetti, Virginia M. Debts of decedent must be reported on Schedule I. ITEM DESCRIPTION AMOUNT NUMBER --~_.__.. --- A. FUNERAL EXPENSES: I MalpezziFuneral lIoDle 5,633.94 2 Funeral Luncheon, flowers, funeral costs 800.00 3 Gingrich MeDlorials 225.00 4 Saint Elizabeth Ann Seton RODlan Catholic Church 100.00 (honorariuDl for Mass) B. ADMINISTRATIVE COSTS: 0.00 1. Personal Representative's Commissions Social Security Number(s) I EIN Number of Personal Representative(s): Street Address City State Zip - I Year(s) Commission paid I BALL, MURREN AND CONNELL 2. Attorney's Fees 2,500.00 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City State Zip Relationship of Claimant to Decedent 4. Probate Fees Register of Wills - CUDlberland County 418.00 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. Other Administrative Costs I Sheaffers Ultra Bright Carpet Cleaning 130.22 2 Transfer of Car Title - Sollenbergers Messenger Service 27.00 I I Total of Contmuatlon Schedule(s) ______L --------L i I 150.00 TOTAL (Also enter on line 9, Recapitulation) 9,984.16 . SchedUe H FlI1eraI ExpeIases & Am1i'i:.b~CostsCOl1liud COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT I FILE NUMBER I 21 - 06 - 00034 ESTATE OF Marchinetti, Virginia M. 3 Removal of household goods - hauling charge 150.00 , I I I I _ Page 2 of Schedule H *' SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT I I FILE NUMBER 21 - 06 - 00034 ESTATEOF M h' . V' .. M arc mettl, rrgmla . Include unrelmbursed medical expenses. ITEM NUMBER --~._._----- 1 Hospice of Central Pennsylvania AMOUNT 6,600.00 DESCRIPTION 2 Montour Home Comfort Services 311.58 3 Alert Pharmacy Services 40.75 4 Messiah Village 837.00 5 Glenn May (snow removal services; yard work) 31.80 6 Borough of Mechanicsburg - Sewer & Refuse 110.82 7 P A Power & Light 55.05 8 United Water 33.24 TOTAL (Also enter on Line 10, Recapitulation) 8,020.24 REV.1513 EX+ (9.00) . L SCHEDULE J ~_~=NEFICIARIES COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT i I FILE NUMBER 21 - 06 - 00034 RELATIONSHIP TO DECEDENT "^ I^, AMOUNT OR SHARE OF ESTATE ESTATE OF Marchinetti, Virginia M. NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY I TAXABLE DISTRIBUTIONS (include outright spousal distributions) . Kathy M. Reynolds 158 Ken-Lin Drive Carlisle, P A 17013 Daughter 100 percent Enter dollar amounts for distributions shown above on lines 15 through 18, as appropriate, on Rev 1500 cover sheet I II. NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE I B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET . t" ('r'""'\, '(, ' ('" '. ""'''';\31) /';!.:k~ fir'" - ~~~ ~..!r'''''."". ""':";:.;.' .,-, ~ ~ p LAST WILL AND TESTAMENT OF VIRGINIA MARCHINETTI KNOW ALL MEN BY THIS PRESENTS, that I, VIRGINIA MARCHINETTI, presently residing at 902 Apple Drive, Mechanicsburg, Cumberland County, Pennsylvania, being in good health and of sound and disposing memory, do hereby make, declare, and publish this as my Last Will and Testament, hereby revoking all former Wills and Codicils heretofore made by me at any time. PAYMENT OF EXPENSES I. pa~ent of Expenses: I direct that my Executor, hereinafter named, s all have the power, but not the duty, to pay all my just debts, expenses of my last illness and funeral expenses, from my estate as soon after my decease as shall be found convenient. GIFTS II. Personal and Household Effects: I bequeath my automobiles, household and personal effects and other tangible personalty of like nature (not including cash or securities) together with any existing insurance thereon, to my husband, ALBERT MARCHINETTI, if he survives me by thirty (30) days. Should my husband predecease . me or not be living on the thirty-first day after my death, I bequeath such tangible personalty and insurance thereon to my daughter, KATHY MARCHINETTI REYNOLDS. I direct that the expense of packing, shipping, insuring and delivering any such property to a beneficiary entitled thereto shall be paid by my Executor as an administrative expense of my Estate. III. Residuary Estate. A. Spousal Gift: I give to my husband, ALBERT MARCHINETTI, if he survives me by thirty (30) days all the rest, residue and remainder of my property of whatever type and wherever situated. B. Remainder Gift: If my husband, ALBERT MARCHINETTI, should predecease me or not be living on the thirty-first day after my death, I give the rest, residue and remainder of my Estate, whether real or personal and wherever situated to my /}/ . /I &i01<d 177 jV&dwnett'v. / - I - '("', (> daughter, KATHY MARCHINETTI REYNOLDS, or if she has predeceased me or dies within 30 days of my death, then to her then living children, but if none, then in equal shares to my husband I s brother and my sisters and brothers, then living. IV. Adopted Persons: For the purposes of this Will, adopted persons shall be considered children of their adoptive parents, and they and their descendants shall be considered descendants of their adoptive parents, regardless of the date of the adoption. FIDUCIARIES V. Executor: I hereby nominate, constitute and appoint my husband, ALBERT MARCHINETTI, as Executor of this, my Last Will and Testament. In the event that my said husband shall predecease me, or be unwilling or unable to act as Executor, then I nominate, constitute and appoint my daughter, KATHY MARCHINETTI REYNOLDS, as Executrix. VI. Resignation: Any individual Executor/Executrix may resign at any time without court approval. VII. Bond: No Executor/Executrix shall be required to give bond. ADMINISTRATIVE PROVISIONS VIII. Management Provisions: My Executor shall have, in addition to the powers and authority conferred upon him by law, the following additional powers and authority: A. Sell/Lease: To sell at public or private sale, exchange, lease, mortgage or pledge any property,. real or personal, at any time, and upon such terms and conditions as he shall deem wise. B. Retain/Invest: To retain and to invest in all forms of real and personal property, including common trust funds, mutual funds and money market deposit accounts regardless of any limitations imposed by law on investments by executors or trustees, or any principle of law concerning investment diversification. C. Operate a Business: To operate any business activity in which I have an interest to the extent I would, if alive. D. Title to Property: To cause any security or other property which may constitute a portion of a Trust to be issued, held or registered in her own name, or in the name of a nominee, or in such form that title will pass by delivery. 16r4~ ~-~'2 _ .c~' Cj E. caaital Changes: To consent to the reorganization, consoli ation, readjustment of the financial structure, or sale of the assets of any corporation or other organization, the securities of which constitute a portion of my estate, and to take any action with reference to such securities which, in the opinion of the Executor is necessary to obtain the benefit of any such reorganization, consolidation, readjustment or sale; to exercise any conversion privilege or subscription right given to them as the owner of any securities constituting a portion of my Estate; to accept and hold as a portion of my Estate securities resulting from any reorganization, consolidation, readjustment, sale, conversion or subscription. F. Expense of Estate: To pay all costs, taxes, charges and expenses in connection with the administration of my Estate. G. Allocate: To determine what is "income" and what is "principal" hereunder, and their decision thereon shall be final; and to purchase securities at a premium or discount, and to apply or charge said premium or discount against income or principal as the Executor may determine. H. Borrow: To borrow money from any person, firm or corporation, for the purpose of protecting and preserving or improving my Estate hereunder; to execute promissory notes or other obligations for amounts so borrowed. TAX PROVISIONS IX. Marital Deduction: No property ineligible for the marital deduction shall be used to satisfy that deduction. Property distributed in kind in satisfaction of the marital deduction shall be distributed at the lower of (i) its value at the time of distribution and (ii) its adjusted Federal Income Tax basis. Subject to the foregoing, my Executor shall have absolute discretion in selecting the property to be allocated to the Marital Deduction. In calculating the amount of the marital deduction, (i) all other property which qualifies for the marital deduction and (ii) all other deductions and credits which are allowed in the calculation of the federal estate tax in my estate shall be considered first. However, credits will be used only to the extent that their use will not increase the death taxes on my estate. X. Death Taxes: I direct that all transfer and inheritance taxes, state or Federal assessed because of my death, whether the funds, property or insurance proceeds to which such taxes are attributable pass under this Will or not, shall be paid out of my residuary estate; that my Executor pay, or provide for payment of lj;~0~ 1J;/iM:~' _ 3 - .c\ (": all such taxes at such time, or times, and in such manner as my Executor deems best. XI. Tax Options: I authorize my Executor: A. Death Taxes: To exercise any options available in determining and paying death taxes in my estate, and to allocate my generation-skipping tax exemption; B. Income Taxes: To join with my husband in filing a joint income tax return; and C. Gift Taxes: To consent to any gifts made by my husband being treated as having been made one-half by me for the purpose of laws relating to gift tax. IN WIT~cSS WHEREOF, I, VIRGINIA MARCHINETTI, the Testatrix of this, my Last Will and Testament, typewritten on four sheets of paper which I have identified at the bottom of each page by my signature, /J hereunto set my hand and seal the It? day of ?n~ ' 1993. %~IA1?,z~J~;td . The preceding instrument consisting of this and three other typewritten pages, each identified by the signature of the Testatrix, VIRGINIA MARCHINETTI, was on this day and date thereof signed, published and declared by VIRGINIA MARCHINETTI, the Testatrix therein named, as and for her Last Will, in the presence of us who, at her request, in her presence, and in the presence of each other have subscribed our names as witnesses. ./7/ (/ ff1k?1/.k 1n /l/i~ldt;. - 4 - '{~) (~. .. ", . COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND I, VIRGINIA MARCHINETTI, Testatrix whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my Last Will; that I signed it willingly; and that I signed it as my free and voluntary act for the purposes therein expressed. ~~&~. Sworn or affirmed to and acknowledged before me, by VIRGINIA MARCHINETTI the Testatrix, the /j"z:.c.. day of ~.rV , 1993. (SEAL) gL: cZ ~j~ Notary Pu tic. t NuT ARIAl SEAL G~ORIA A. CUD::lINGTON, Notary Pubk Harrisburg, Dauphin County, Fa. My Commission Expires Feb. 14, 1994 .c; COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND (>' ..... We Richard E. Connell and Marcia M. Connell , the witnesses whose names are signed to the attached or foregoing instrument, being duly qualified according to law, do depose and say that we were present and saw Testatrix sign and execute the instrument as her Last Will; that he signed willingly and that he executed it as her free and voluntary act for the purposes therein expressed; that each of us in the hearing and sight of the Testatrix signed the Will as witnesses; and that to the best of our knowledge Testatrix was at that time eighteen or more years of age, of sound mind and under no constraint or undue influence. Sworn or affirmed to and subscribed to before me by Richard E. Connell and Marcia M. Connell witnesses, this 18th day of March , 1993. (SEAL) ,6~"l W UA/ t). ~fni~;;' . , otary ub ic NOT ARIAl SEAL G~ORlf.. A. CU:)D';'lGTOH, Nc~ary Public H2;;-i~b'Jr9. C:lUphin COLir.ty. Pa. M~~~~~~~.:'_Expires Feb. 14, )99~