HomeMy WebLinkAbout80-00227
No. ~f:80'
ZZ7
PETITION FOR PROBATE OF WILL AND LETTERS TESTAMENTARY
in the Estate of
WARREN C. PHILLIPS
, deceased.
Harold D. McLane, Deputy
To n;"I,.!i, J C. A"dEr:361'\, Register of Wills for the County of Cumberland,
in the Commonwealth at Pennsylvania.
IS
Petitioner(s) E1ltlR the execuLo_J:"_____ named in the Last Will and
Testament of WarJ:"en C. Phillips _ dated Feb. 27, 1974
Decedent was a citizen of the United States and a resident of
~wsk~
Borough, Cumberland County, Commonwealth
Camp Hill
af Pennsylvania.
Decedent died on Tuesday
A. D. 19~, in the County of
the
18th
day of March
Cumberland
State of
Pennsylvania at the age of 70 years.
:bas hms :bee
Decedent has not been married and has not had children born to him
since the execution of the above described Will.
Decedent was possessed of personal property to the value of
:t. 1st 1$,000 and of real estate to the value of
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as near as can be ascertained; said real
estate situated as follows
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Therefore, your petitionerM respectfully applies for the probate
of the said Last Will and Testament and for Letters Testamentary thereon;
t6 ~t .
Dated March 28, 1980 'j - 1/ . ./J .J-
~c;n!I'<-C _ . c.,vt..i'~ V.M'<' r~{l1/'
Name and address Hilton Bank (formerly Nation.J.M ~-'~
. . Centra an
of Petltloner(s)
222 Market Street
F. O. Box 1071
Harrisburg, PA 17108
COMMONWEALTH OF PENNSYLVANIA ~
ss
COUNTY OF CUMBERLAND
Raymond T. Cameron, Vice President and Trust Officer, of Hamilton Bank,
named in above application, being duly sworn according to law
say(s) that the statements set forth in this petition are true to the
best of
knowledge and belief./)
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and subscribed before By "-~".>1f?' j '~."?-U'''''''~ ..'
. ~ymOnd T. Cameron I(~/~Y~,
me, . March 28, .1980 _ _ .~v. v.......
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c... _.... .
<fe, "(}1_1_ B )tly ,;Xt\l\~ Depu~
n;c.I,.!i, J [, AI,e1e, .101'1, Register
his
Sworn
Filed;
,;?hfo -;;1,':<'7
1980
william E. Miller, Jr., Esq.
-.--.----Keefe., lIood-;-i\-l-re1l & Rahal.
208 walnut Street, P. O. Box
Attorney. 1226 ~
. Harrisburg, PA 17108 L32J
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(10) That the Classic Pipe organ shall be
kept in playing condition for a period of at least
twenty-five (25) years from the date of acceptance
if reasonably possible.
If none of the colleges is willing to accept
the organs subject to the above conditions, then I
give both organs to the Episcopal Diocese without
imposing any conditions. ~
(c) I give my medical books to
Hospital, camp Hill, Pennsylvania:
(d) I give my diamond Masonic ring to my son,
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the Holy Spirit
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Stephen J. Phillips, and authorize my Executor to make
distribution directly to him whether or not he is of age:
(e) I give the hall clock in my office, my tools,
and the ship model and the ship papers of Captain A.
Phillips in my waiting room to my son, Warren C. Phillips, Jr.:
(f) All the remainder of my tangible personal property
I give to my wife, Gwendolyn M. Phillips, or, if she does
not survive me, to my son, Warren C. Phillips, Jr., with
complete confidence that he will make equitable distribution
to and among my surviving children.
SECOND: I give, devise and bequeath all the rest and remainder
of my estate, real, personal and mixed, to National Bank & Trust
Company of Central Pennsylvania, now National Central Bank, 222 Market
Street, Harrisburg, Dauphin County, Pennsylvania, Trustee under my
Trust Agreement dated December 19, 1969, IN TRUST NEVERTHELESS, to
be handled in the manner provided by the terms of said Trust Agreement.
Should the aforesaid bequest to National Central Bank, Trustee,
fail for any reason, I give, devise and bequeath all the rest and
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remainder of my estate, real, personal and mixed, to my wife,
Gwendolyn M. Phillips, and to my issue, in the intestate proportions
provided by the laws of the commonwealth of pennsylvania.
Should neither wife nor issue survive me, I give, devise and
bequea,th all of my estate, real, personal and mixed, as follows;
(a) Fifty percent (50%) to the wills Eye Hospital,
Philadelphia, Pennsylvania, without restriction as to use;
(b) Fifty percent (50%) to the Department of opthamology
of Holy Spirit Hospital, Camp Hill, pennsylvania, without
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restriction as to use.
THIRD: If any beneficiary under the second paragraph of Item
SECOND is under thirty (30) years of age, I direct this his interest
be held in trust by National Central Bank, hereinafter called Trustee,
until such beneficiary reaches thirty (30) years of age. My Trustee
shall apply such amounts of income and principal as it, in its sole
discretion, deems proper for the support, education and welfare of
such beneficiary, and rnayaccumulate any unexpended balance of income
to the extent permitted by law. Such amounts may be applied directly
or may be paid to the beneficiary or to the person with whom such
beneficiary resides or who has the care and control of such bene-
ficiary, without the intervention of a guardian. My Trustee shall
not be obliged to supervise or inquire into the application of such
amounts by such person, and the receipt of such person shall be a
complete release of my Trustee. Should the share of a beneficiary,
in the sole opinion of my Trustee, be or become too small to warrant
continuing such fund in trust, or should its administration be or
become impractical for any other reason, my Trustee, in its sole
discretion, may pay such share, absolutely, to the beneficiary, to
the parent or other person maintaining said beneficiary, or may deposit
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such share in the beneficiary's name ill a savings account in a
savings institution of its choosing, payable to the beneficiary
at majority.
Should a beneficiary die prior to reaching the age of thirty
(30) years leaving issue, his interest shall be allocated among
said issue by my Trustee and held in trust for said issue, subject
to the same trust provisions of this will, but subject to the
additional qualification that final distribution be made to each
said issue upon his reaching the age of twenty-one (21) years, or
to his estate in the event of his death. I .
Should a beneficiary die after reaching the age of twenty-one
(2l) years, but prior to reaching the age of thirty (30) years leaving
no issue, his interest shall be distributed as he may specifically
direct in a valid Last Will and Testament. UnlesS such specific
direction is made, the interest of a beneficiary who dies at any
age prior to reaching the age of thirty (30) years leaving no issue
shall be divided among his brothers and sisters, and the issue of
deceased brothers and sisters, per stirpes, or, if none exists, among
my issue, per stirpes, or if none exists, in the manner set forth in
the third paragraph of Item SECOND, provided that, any portion of such
interest payable to a person who is the beneficiary of a subsisting
trust under this Will shall be added to said trust, and be paid over
,
to said beneficiary in accordance with the provisions of said trust.
FOURTH: In the event that my wife, Gwendolyn M. Phillips,
does not survive me, I name my son, Warren C. Phillips, Jr., as
guardian of the persons of any minor children who survive me.
FIFTH: I appoint National central Bank as my Executor, and direct
that it serve without bond in any jurisdiction in which it is called
upon to act.
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SIXTH: I give to any Executor, Executrix or Executors and to
any Trustee or Trustees, named in this Will, or any Codicil hereto,
hereinafter referred to in the singular neuter gender, the following
powers during the administration and until the completion of the dis-
tribution of my estate, and until the termination of all trusts created
hereunder and until the completion of the distribution of the assets of
such trusts, in addition to, and not in limitation of, any authority
given it by law or by other provisions hereof:
(a) To retain any property of any kind of which I may
die possessed, and to invest and reinvest any such property;
(b) To invest and reinvest in such stocks, bonds or other
property, either real or personal, including any common or diversified
trust funds maintained by corporate fiduciaries, as it, in its sole
discretion may deem wise, without being limited to what are known as
"legal investments" and without responsibility for diversification;
and to deposit and maintain, in its sole discretion, funds in such
amounts as it deems proper in banks of its choice, including the keeping
of reasonable amounts of cash in banks uninvested;
(c) To exercise any options to subscribe for stocks, bonds
or other investments; to vote, in person or by proxy, securities
held by it and in such connection to delegate its discretionary powers;
to join in any plan of lease, mortgage, merger, consolidation, exchange,
reorganization, foreclosure or voting trust and deposit securities
thereunder of any corporation in which my estate and trusts may hold
stocks, bonds or other securities; and generally to exercise all the
rights of security holders of any corporation;
(d) To sell, transfer, convey, mortgage, pledge, grant
options for sales or exchanges, lease for any period of time or ex-
change any property, real or personal, which at any time may form part
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of my estate, for the payment of debts or taxes, or for any purpose of
administration or distribution, at either public or private sale, for
such prices, either in cash or for credit, and upon such terms as it,
in its sole discretion, may deem wise, and to execute and deliver
deeds of conveyance or transfer thereof, without any liability on the
part of the purchaser or purchasers, or anyone else dealing with it
with respect to my said property, to see to the proper application of
the purchase money or proceeds;
(e) To renew notes or debts of mine, and to borrow sums
of money from any person, including any fiduciary, giving such security
therefor, including a pledge or mortgage, as it, in its sole discretion,
may deem to be for the best interests of my said estate and trusts;
(fl To make settlements and to compromise claims, by or
against my estate or trusts, including without limitation, any questions
relating to taxes or to any policy of life insurance, on such terms
as it, in its sole discretion, may deem wise without the necessity
of obtaining any court approval thereof;
(g) To make distribution hereunder either in cash or in kind,
or partly in each, as it, in its sole discretion, deems wise;
(h) In its discretion, to amortize from income premiums paid
for investments which are callable, or have a fixed maturity.
SEVENTH: I direct that this Last will and Testament control
the distLibution of my property irrespective of whether there are
children born to me or adopted by me subsequent to the execution
of this Last Will and Testament.
EIGHTH: The words "issue" and "children" whenever used in
this Last Will and Testament shall include adopted children.
NINTH: No interest of any beneficiary under this will or
any Codicil hereto shall be subject to anticipation or to volun-
tary or involuntary alienation.
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OATH OF SUBSCRIBING WITNESS
COMMONWEALTH OF PENNSYLVANIA 1 ss:
COUNTY OF CUMBERLAND \
This................ .~.? !;!:'................... .................. .......... day of... .....~~;t;.<?~............. .............. ................. A. D., 19.~~...,
Harold B. McLane, Deputy
before me Rivl.!!.!!I!!:. .^.RIiOl'R~n, Register for the Probate of Wills and granting letters of Administration
in and for said County of Cumberland, in the Commonwealth of Pennsylvania, personally came ..............
..................................):{~ .~J. ~ ~m..~.:... t1J ~ .~.~. ~.!...;J: E.:.!.... f?X\~..!? f........................................................................
the subscribing witnesse~ .to . the foregoing instrument of writing purporting to be the last Will and
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Testa~ent elf ........................ .............. !1.\l:~.;.'?!1...9.......J?h.u ~~.J?:'!.. .................. Dated ~.~p..':=.~~.':=X...?!.~ ...~??.~.-
11 _I. 11, .^~^
late of..............9.?\!lIp...!:I.Hl......................................................................... Cumberland County Pa., deceased
w!lo being duly .........~W.9.F.!L..................... according to law, depose and say, that ....~.~...y:.<;t.~......................
present, and saw and heard the testa.~.9.L......................, ...):{?\E.F.~r....~.,...~p.J~.~.~p..~................................
sign, seal, publish, pronounce and declare the said instrument of writing as and for h.j.f!l.......... Testament
and Last Will, and at the time of so doing ........h~.....................................was of sound and disposing mind
memory and understanding, to the best of ..........h.:j.,~.............................knowledge, observation and belief.
........~w!?F.n.j:.9..................... and subscribed before
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R:.J.al~lE. A RagrQQ~, Register .
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AFFIDAVIT OF DEATH
COMMONWEALTH OF PENNSYLVANIA l S5:
COUNTY OF CUMBERLAND \
.............,................!1J. ~ .+.~.?\!lI...~.,.. .~~.:!, ;I&F./... i!. 1:.,. I................................................,........................... being duly
............~:-!"!?g)......................... says that as nearly as can be ascertained the said decedent ..........................
........................... Yf.<:'-. ~E.'?!1...9...... .J?!:!~. ~ ~.t.l?:'!.............................................................................................. .died on
......r.J.!~.9.g.~.Y........................... the ......HI.1;h.................day of ...........1:1.\\1:.9.0.............................. A.D.. 19\1.Q....
at Dr about ................I..1.L............... o'clock.hM.
.......?W.9.);!L...............................and subscribed this
.......~,~.j;h................................ day of ..I:\il};.~h..........
19. JUl.... before
~~~~Q~~j~~~3S..~ h~~;)~'I.\....Q............ ...?.~.~~~.Y
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R1\.11Lud B. }.ud.....tMt, Register .-.-".
~~-;~~~'''.~.. .... ...:--
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william E. Miller, Jr~~'.
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OATH OF PERSONAL REPRESENTATIVE
COMMONWEALTH OF PENNSYLVANIA}
COUNTY OF CUMBERLAND SS:
Before me. the Register for the Pl'Obate of Wills and granting of Letters of' Administration in and for
the County of Cumberland. personally came ..~f!'y'I!)~.~~...'~,'....<'::~~.~~~.~!....'!.~~.~..~.~!7.~.~~.~.~~."~,,,~.~~.~.~.
V:I::I:~cer,
who, being duly ...~~.~!:!.l.............., do .~!'!..... depose and say that as.....~.~~.<;:~.t?!:.........................................
of'the last Will and 'restament of' ................!1!:l.g~.~..~.~...?~~.+.gl?.f!'................................................deceased
Hamilton Bank
......................... will well and truly administer the goods and chattels, rights and credits of said deceased
according to law. And also will diligently comply with the provisions of the law relating to Transf'er
Inheritances. ......9.W9.m........... and subscribed
before me.
HAMILTON BANK, formerly National
Ce ral Bank
~'C:~?~m=:;,m A D, 19~::~:~y BYF~;:(~+-Z;;-<
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Riaaaul E ~ _oJ..."..........., Register
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DECREE
Be it remembered that on the ......J::.?......... day of' .................~?.7.~.~...................., A. D.. 19 .~~..., there
w b ted d d d th 1 .t W'll d T t t f' Warren C. Phillips .
as pro a an recor e e as I an es amen 0 .............................................................................
late of ........~.~~p....~~.~.~... ............................................. Cumberland County, Pennsylvania. Deceased. Letters
...................'!:!7.~.~~~~~.~~~.Y......... were granted to .................. ...1:.~~.~.~~9.~...J?~~.~............ ...,. ........ ................
Witness my hand and official seal the day and year aforesaid. J J
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.... .:.f.~.2:f:.:.,.... ...~....J').~.d f1;{j.'-....,~.'::p..~.~ y
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with tangible personal property. All property added to this trust
shall be subject to the terms and conditions of this Agreement.
~: REVOCATION OR N1ENDMENT OF TRUST.
The Settlor reserves the right to amend, modify or revoke
this trust in whole or in part, at any time or times, by notice
in writing delivered to the Trustee, and such amendment, modifi-
cation or revocation shall be effective immediately upon delivery
of said notice to the Trustee, except that changes in the Trus-
tee's duties, liabilities or compensation shall not be effective
without its consent.
THRSE: DISTRIBUTION OF PRINCIPAL AND INCOME.
The Trustee shall hold, manage, invest and reinvest all prop-
erty acquired hereunder during the lifetime of the Settlor for the
exclusive benefit of the Settlor, paying to the Settlor all net
income, and paying to the Settlor such principal as he may from
time to time requesc in writing. upon the death o~ Settlor, the
Trustee shall hold, manage, invest and reinvest all .property held
or acquired hereunder, as follows:
TRUST A
If Gwendolyn M. Phillips, hereinafter referred to as Settlor's
wife, survives Settlor, and for purposes of Trust A she shall be
deemed to have survived him, unless it appears unmistakably that
she predeceased him the Trustee shall set aside from the assets
that it holds or that are payable to it at the death of the Settlor
as Trust A, such amount as will, when added to the value for
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(b) It is Settlor's intention to give broadest dis-
cretionary power with regard to income and pripcipal to the Trus-
tee without need for equality of distribution between or among
his beneficiaries and without recognition of intestacy proportions,
for the Settlor anticipates that the Trustee will attempt to handle
Trust B in the manner that Settlor would recommend if physically
present.
(c) Settlor recommends, without restricting the abso-
lute discretion of the Trustee in any way, that, should Settlor 's
wife be no longer living, or should she, in the opinion of the
Trustee, be adequately provided for by the remaining assets of
Trust B and other resources available to her, the Trustee give
consideration to distributing to each child of Settlor approxi-
mately one-third (1/3) of that portion of the principal of Trust
B which the Trustee anticipates will ultimately be paid to such
child when the child..reaches twenty-five (25) years of age,
approximately one-half (1/2) of the remaining portion when the
child reaches thirty (30) years of age, and the remainder when the
child reaches thirty-five (35) years of age.
(d) When Settlor's wife is no longer living, and m1en
all of Settlor's living children have reached the age of thirty-
five (35) years of age, the Trustee shall terminate this trust and
make distribution to Settlor's issue in such amounts and propor~
tions as the Trustee, in its absolute discretion, may determine.
Any share of Trust B, income or principal, which becomes dis-
tributable at termination to a minor, shall be held in ~rust by
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the Trustee during minority. The Trustee shall apply. such amounts
of income and principal as it, in its sole discretion, deems proper
for the support, education and welfare of such minor, and shall
accumulate any unexpended balance of income. Such amounts may be
applied directly. or may be paid to the person with whom such minor
resides or who has the care and control of such minor, without the
intervention of a guardian. The Trustee shall not be obliged to
supervise or inquire into the application of said amounts. by such
person, and the receipt of such person shall be a complete release
of the Trustee. Should the share of a minor, in the sole opinion
of the Trustee, be or become too small to warrant continuing such
fund in trust, or should its administration be or become imprac-
tical for any other reason, the Trustee, in its sole discretion,
may pay such share, absolutely, to the parent or other person main-
taining said minor or may deposit such share in the minor's name
in a savings account-in a bank or savings institution of its
choosing, payable to the minor at majority.
(e) In the event that no issue of Settlor exists to
permit distribution as set forth in subparagraph (d) above, the
Trustee shall make distribution as follows:
(i) Fifty percent (50%) to the Wills Eye
Hospital, Philadelphia, Pennsylvania, without
restriction as to user
(ii) Fifty percent (5~h) to the Department
of Opthamology of Holy Spirit Hospital, Camp Hill,
Pennsylvania, without restriction as to use.
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(f) All property coming into the hands of the Trustee
under Trust B shall be held, invested and administered as one
trust. To the extent feasible and to the extent permitted by law,
the Trustee may, in its discretion, accumulate income and add it
to Trust B.
(g) If Settlor or any beneficiary of Trust A or Trust
B shall, in the sole opinion of the Trustee. be or become mentally
or physically incapacitated by reason of illness, accident,
minority or otherwise, the Trustee may apply either income or
principal for the support and welfare of Settlor or such bene-
ficiary directly, or to the person who has the care and control of
Settlor or such beneficiary, without the intervention of any
guardian, and without obligation to supervise application of said
amounts in any way. Any application of Trust A income or princi-
pal hereunder shall be for the sole benefit of Settlor's wife.
(h) Throughout this instrument, Settlor intends that
the words "child," "children" and "issue" shall include adopted
children.
~: POWERS AND DUTIES WITH REGARD TO INSURANCE.
The Settlor reserves to himself during his lifetime, and may
receive or exercise, without the consent or approval.of the Trus-
tee, or any beneficiary hereunder. all benefits, payments, divi-
dends, surrender values. options, rights, powers and privileges
with respect to life insurance policies, including, but not
limited to, the following:
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:
(a) The power to change the beneficiary of said poli-
cies or any of them:
(b) The right to receive all disability benefits, divi-
dends payments, loan values or surrender values provided in said
policies or any of them:
(c) The power to borrow on, surrender or pledge any of
said policies:
(d) The power to exercise any option provided in any of
said policies, such as the power to convert to a different kind or
amount of insur~nce, the power to select the method of settlement
of the proceeds of any of said policies, etc.
It is the intent of the parties hereto that the Trustee shall
receive only the proceeds payable at the death of the insured (or
upon the death of the. primary beneficiary, should the Trustee be
entitled to proceeds upon the death of the primary beneficiary).
subject to all loans 'and charges against such proceeds as may have
accrued during the Settlor's lifetime, and that the Settlor shall.
during his lifetime, retain all other contractual benefits, powers
and options under said policies.
The Trustee shall be under no obligation, during the lifetime
of the Settlor, to pay any premiums, assessments or other charges
necessary to keep the policies in force, nor shall it be under any
obligation to ascertain whether the same have been paid. or to'
notify the beneficiaries hereunder of the non-payment of premiums.
The Trustee shall keep safely any and all pOlicies deposited
with it, and shall, at the request of the Settlor, exe~ute such
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releases and other instruments as shall be required to permit the
Settlor to exercise any options, privileges or powers reserved to
him hereunder.
Upon the death of the insured (or upon the death of the pri-
mary beneficiary, should .the Trustee be entitled to proceeds upon
the death of the primary beneficiary), the Trustee shall make all
reasonable efforts to collect such sums of money as shall be due
it under the terms of said policies of life insurance, including
double indemnity benefits, and hold the same in trust for the uses
and purposes hereinafter set forth. To facilitate the receipt of
such Slli~S of money, the Trustee shall have the power to execute
and deliver receipts and other instruments, to compromise or
adjust disputed claims in such manner as in its sole discreti.on
seems just, and to take such steps as in its discretion are neces-
sary and proper for collection thereof; provided that, if. payment
on any policy is contested, the Trustee shall not be obligated to
take any action for collection unless and until it shall have been
indemnified to its satisfaction against any loss, liability or
expense, including attorney's fees: and provided further, that the
Trustee is authorized, in its sole discretion, to use any funds in
its hands, whether principal or income, to pay the costs and
expenses, including attorney's fees, of bringing an action for the
collection of the proceeds of any policy hereunder, and may reim-
burse itself for any advances made for such purposes.
Upon payment to the Trustee of the amounts due under the
policies of insurance payable hereunder, the insurance ,companies
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issuing such policies shall be relieved of all further liability
, hereunder and no such company shall be under any responsibility to
see to the performance of the trust created hereby.
FIVE: PONERS OF THE TRUSTEE.
In addition to the powers conferred by case law, by statute
and by the other provisions hereof, the Trustee and its successors
shall have the following discretionary powers applicable to all
real and personal property held by it, including property held for
minors, all real and personal property being referred to in this
Section as the Trust Estate, which powers shall be effective with-
out court order and shall exist until actual di~tribution:
(a) To retain any property received by it, including
its own stock;
(b) To invest and reinvest all or any part of thc Trust
Estate in such stocks, bonds, securities or other property, real
or personal, as it, in its discretion shall deem proper, without
regard to statutes limiting the property which a fiduciary may
purchase, provided, however, Settlor recommends that no invest-
ment be made in mutual funds (not, however, including in that
term common funds or similar arrangements of Trustee);
(c) To sell, transfer, exchange or othe~-wise dispose
of, any part of the Trust Estate, for cash or on terms, publicly
or privately, or to lease, even for a term exceeding five (5) years
or the duration of this trust, without liability on the purchasers
or lessees to see to the application of the proceeds, and to give
options for those purchases without the Ob~igation to repudiate
them in favor of a higher offer;
-10-
'.
to deposit investments under agreements, to pay assessments, and
generally to exercise all rights of investors;
(k) To permit the proceeds of any insurance policy to
remain with the issuing insurance company for the benefit of any
income beneficiary under any optional method of settlement allowed
by the issuing company;
(1) To invest in endowment, insurance or annuity poli-
cies on the lives of beneficiaries hereunder;
(m) To do all other acts in its judgment necessary or
desirable for the proper management, investment and distribution
of the Trust Estate.
SIX: INSURANCE ON LIVES OF OTHERS.
with respect to any life insurance policies held by the Trus-
tee on the lives of other than Settlor, the Trustee is authorized:
(a) To apply any dividends or shares of surplus received
by it on account of such policies in part payment or abatement or
premiums thereon or to collect such dividends or shares of surplus
in cash and to distribute same as income;
(b) To pay all premiums on such insurance (or any bal-
ance that may remain after application of dividends or surplus as
above authorized) from the principal hereof;
(c) To permit the proceeds of or any amounts available
under any such policies to remain with the issuing insurance com-
pany for the benefit of any income or principal beneficiary here-
under, under any of the .optional methods of settlement provided in
said policies or allowed by the issuing companies (including spe-
-12-
SCHEDULE A
PRIMARY BENEFICIi\RY
Policy
Company Number Amount:
Eqt\i table Life Insurance company
of IOI'la 680,633 10,000
Equitable Life Insurance Company
of Iowa 728,452 5,000
Equitable Life Insurance company
of Iowa ':i44,295 5,000
Equitable Life:lnsurance Company
of Iowa 744,304 13,500
The Northl~estern Mutual Life
Insurance Company of
Milwaukee, wisconsin 3,377,122 44,000
New England Mutual Life Insurance
company 2,395,618 50,000
CONTINGENT BENEFICIARY
Policy
f.Q!!lpany Number Amoun t
Sun Life Assurance Company
of Canada 1,600,323 3,000
Banl,ers Life company
of Des Moines, Iowa 1,222,170 3,000
The Travelers Insurance Company
of Hartford, connecticut 2,237,536 3,500
The Travelers Insurance Company
of Hartford, connecticut 2,237,537 1,500
I.~ -/ i-YO
.
REV..4-4Q It-llOI
COMMOHWE~L TH .'F f"NNSYLVAHIA
OEPARTMF.NT OF REV ENUE
TR~NSFER INHERITANCE TAX
RESIOEHl OECEoENT
AFFIDAVIT OF
FIDUCIARY
(Instructions 011 Reverso Side)
^:1^
(~~,~t~i)
~'.,.(\f-~' h;;t'.~.,
I II, ,.. .. ,~.l';;;r}...
B .,: ....~~)...
_'~R_."-_
Estate 01 Warren C. Phillip"
Lost Address 18 N, 23rd Street
Dote 01 Death ._l::larch 18 , 1980
Social Security No. ....2.Ql::1.8-=.91l.DH____n
(CITY)
(STATE)
17011
(ZIP)
Bureau File No,
Camp Hill, Pa
County File No. _
/
.', . ",{.
/. "
...,{ /
1. Decedent died:
( ) Intestate (without 0 will)
(X ) Testate (leaving 0 lost will--copy attached)
2, Is the filing 01 0 Federal Estate Tax Return required lor this estate? Yes-X-- No
3. (X ) Executor/Executrix
) Ad",inistratar/ Administratrix
Nome Hamilton Bank
Address P.O. Box 1071. 222 NRrk"r Srrppr
4. All correspondence should be moiled to (
Attorney
( X) Fiduciary,
n 03
nr- ::0::0
c:M 0 mM
:t~ ~~g
Ct, , ::::l (J):::O
l'r1a -n ..(0
?J?, .:-> .''1('1'
'--0 ~ .'9
'r..:::...
t)~ .:0 ~.)
.,
-"I
:.:'ui 3
-:.':' ,.,
\:~ ."";,
. - .,
H.q,...,..;cn""'g Pa
ICITy} , {STATE}
171 nR
(ZIPl
5. If on attorney is representing the estate, indicate:
. Name William E. Niller, Jr.
Address P ,0. Box 1226, 210 Walnut Street
Hr1rri!=:;h"r~ P.tl
(CITY) . (STATE)
---U.103
{ZIP}
List all sole deposit boxes registered in the decedent's individual namel or jointly with, or as on agent or deputy
01 another, or in decedent's individual nome with right 01 access by anotner os agent or deputy. Include the nome:
and address 01 the bonk or other institution where the sole deposit box is located, the nome (s) in which the box
is registered and the relationship ai the joint holders to the decedent.
..=--=:,:;-
NAME ANO AoaRESS OF BANX OR OTHER INSTITUTION
IN WHICH.OEcEaENT MAINTAINED A SAFE DEPOSIT BOX
NAME OR NAMES I~ WHICH
SAFE DEPOSIT BOX IS REGISTERED
RELATIONSHIP OF JOINT
HOLDERS TO DECEOEIH
CCNR RRnk N A
Warr~C.Phill;p"
Camp Hill Sho
,
...-1
,
.,".-:
Under penalties 01 perjury, I declare that I hove examined this return, including accompanying schedules and
statements, and to the best olmy knowledge and beliel it is true, correct and complete.
HAHILTON BANJ<, Exec tor ./
(/ .... ~-/ '
By. .1\~';;;;A~;E OF ~I'O~~I:R~ '~~:e pres~::~t l5a:TE1980
. ~ . './~ -- ,./"-[~, - ~..-~ ~~'\
I /. . ~ . v/~))) / ~'\J L~""", \,
~ (~~ C1 l~~)/r
-.------ -' .......... ., ~_.__. --
PAUL MADDEN ANTIQUES
5 North Water Street
Nantucket Island, Massachusetts
Tel. 617- 228-0112
Corner Whaler's Lane
02554
Open Year . round
rp'L~ ~lttro
57J LI~t~ .
~~et.l~ t~D-/h' Vt,.11~.
. ~~cJr.
-
~ ~ ~ tM.~~ ~-Caatl.
tv.0W "',u{fbt5 ptJr ~&~. s:tu tv \0(71\1
H-. lbU ~ q~/(. ~/~cb-m ~~(MiJ
(\2/MluVr ~ ld{{l~- QJ~ ~~
~~e! (j7~eM 1~- 1/tA-~~eA/L~
\~~. 1-w ~~fh- ~a~1vI
~. 14, m. ff/{.".!!!Ji0}L
~. ~ 5 NO/III Water Street
Nantuckot. Mass. 02554
(617) ~112
QUESTIONS CONCERNING PROPERTY TRANSFERS
1. Did decedent, within two years of death, make any transfer of any material part of his estate without receiving
valuable and adequate consideration? (Answer "Yes" Dr "No".) No_
2. Did decedent, within two years of death, transfer property from himself! herself to himself/herself and another party
or parties (including a spouse) in joint ownership? (Answer "Yes" or "No".) ~
3. If the answer to one or two above is "Yes" and the transfers are claimed to be nontaxable, provide the following
information:
a. Age of decedent at time of transfer.
b. Copy of death certificate.
c. Affidavit by the attending physician indicating the state of decedent's health at time of Iransfer.
d. All other information supporting nontaxability of transfer.
4. Did decedent, in his/her lifetime, make any transfer of property without receiving a valuable or adequate consideration
therefor which was to take effect in possession or enjoyment at or after his/her death? (Answer "Yes" or "No".) No
a. Was there any possibility that the property transferred might return to transferor or his/her estate or be subject
to his/her power of disposition? (Answer "Yes" or "No".)
b. What was the transferee's age at time of decedent's death?
5. Did decedent in his/her lifetime mal<e any transfer without receiving a valuable and adequate consideration therefor
under which transferor expressly or impliedly reserves for his/her life or any period which does in fact end before his/her
death:
a. The possession or enjoyment of or the right to income from the property transferred? (Answer "Yes" or "No".) ~
b. The right to designate the persons who shall possess or enjoy the property transferred or income therefrom?
(Answer "Ves" or "No".) No
6. Ifthe answer to five b. above is "Yes," state whether the right was reserved in decedent alone or others.
7. Did decedent in hiS/her lifetime make a transfer, the consideration for which was transferee's promise to pay income
to or for the benefit or care of transferor? (Answer "Yes" or "No".) No
8. Did decedent, at any time, transfer property, the b!lleficial enjoyment of which was subject to change, because of
a reserved power to alter, amend, or revoke, or which could revert to decedent under terms of transfer or by operation of
law? (Answer "Yes" or "No".) No
9. If the answer to eight above is "Yes," was the power to alter, amend or revoke the interest of the beneficiary reserved
in the decedent alone or the decedent and others? (Answer "Yes" or "No".)
REV.453 EX'" (3.S0)
. COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
TRANSFER INHERITANCE TAX
RESIDENT DECEDENT
SCHEDULE "0"
BENEFICIARIES
*
(Instructions nn Reverse SieJe)
Estate of Warren C. Phillips
BENEFICIARIES AND ADDRESSES RELATIONSHIP SURVIVED DATE OF INTEREST OF BENEFICIARY
DECF.DENT BIRTH
--.
Stephen J. PhilliM o"n H"O of '"'''' I n; ~~"n..1 M,,,,,,n; c:--
643 Cedar Ridge Lane -, ring valued at
Mechanicsburg, PA 17055 $1,560.
Warren C. Phillips, Jr. lorm ..~~ ~;: ._^ ('1 ^_1. ~_,,1 -,,"- ,
~o Llnvd Street model valued at
-
Winchester Mass. 01890 C::~ C;()()
Gwendolyn M Phillips ..,; ;:" I..~~ ~" ""^ '''1" 'D^~~~~~' ,
k/,~ ('",1~~ '0;..1_" T "~o 1-' -0 Prooertv valued I
Mechanicsburg, PA 17055 at 52 4q3 .
.
.
Hamilton Bank Trustee -
T/U/A dated 12/19/69 bv -
Warren C. Phillips Trustee "es 10_"" -l.. ,
~~~ .. - ... ,
Harrisburg, PA 17108 .,
..
,
i
..
c
i
-,
'.
I ,
The above beneficiariAs are living at this time except lor the following:
DATE OF DEATH
NAME
...
REV.454 (1.80)
COMMONWEALTH OF PENNSVLVANIA
OEPARTMENT OF REVENUE
TRANSFER INHERITANCE TAX
RESIDENT OECEDENT
Estate of Warren C. Phillips
SCHEDULE "E"
JOINTL v OWNED PROPERTY
'*
,. .
. .....\ ,
, .
P
TOTAL E VALUE OF DEPARTMENT
ITEM R
DESCRIPTION MARKET C DECEDENT'S VALUATION
NO. VALUE E INTEREST (Ollicial Use Only)
N
T
. All jointly owned property was titled
in name of Warren C. Phillips and
Gwendolyn M. Phillips, his surviving
wife. A list of said property is
available upon request
-
TOTAL THIS PAGE 0
-Sf!,
(lmtruct;ons on Revorse Side)
~f{
REV."&4EX+ (&-&0)
INHERiTANCE TAX SUMMARY SHEET
(BUREAU USE ONLY)
m Original
o Supplemental
o Remainder
FiI e Number
21-80-0227
Estate Nome
Warren C. Phillips
Dote 01 Death
March 18, 1980
Social Security Number
201-18-9804
REPORT OF INHERITANCE TAX APPRAISER
I, the undenlgned duly appointed Inheritance Tax Appraiser in and for the County of Cumberland
Pennsylvania, do respectfully report that I hove appraised the real and porsonal property as reported in the foregoing
return at the values set farth opposite each item in the last column to the right in Schedules "A", 118", lie", and liE"
KfI. ' 'irl( ~ (, )
--l /)./( It.! J II' ,1 J(t,
INHERITANCE TAX APPRAISER
Dated:
April 8, 1981
ADJUSTMENTS REMAINaER APPRAISEMENT CODE
INVENTORY VALUE AS APPRAISEa CODE (HARRISBURG USE ONLY)
Real Property (Schedule A) $ None 00+ 92+
Personal Property (Schedul. B) 73,696 68 '0+
Jolnt..H",!tJ Property (Schedulo E) None 20+
Tran.fc.,u (Schedule C) None 30+
TOTAL GROSS ASSETS ____.__._$.13,69_ Ji.8___
Leu D.bts and Deduction. 40- 93-
(SCHEOULE F)
CLEAR VALUE OF ESTATE
o Life Estate RATE FACTOR PRINCIPLE VALUE CODE
o Annuity . ---
FOR USE OF REGISTER ONLY s;ooe COM PUT A TlON OF TAX
Tax an $ I 6" S
;0
Tax on S 15% S
Tax on $ S
Tax on $ ~. S
Tax on S S
Exemptl,ans
Total Estata
TOTAL TAX S
INHREST FROM TO S
BALANCE $
Leu Credlls
DATE OF PAYMENT AMOUNT PAID DISCOUNT INTEREST TAX CREOI T
5 + 5 S = S
+ =
BAI.ANCE 5
INTEREST FROM TO __ 5
S
""
., '"
Q) ~
~ rn Q) ~
:.; ~ ~ 0. .. 0
.... ., t-
.... U)
z ~ ~ ....
0 .... .c ""
.c ., ""
~ "" M
tIl N '0
;> . .... C
t) .c .... '"
...l ., .... ....
<: c .. :z: .. ~ N M
- Q) 0 Q) ~ M
U Z .. :0: 0. .0
- .. iij 9
'" 0 '" ro
'" - ;3: ~ t) t)
0 ~
~ '" 0
'"
f-o 0 tIl 0 Z
tIl I.:i tIl ... f-o 0 0
-
Z f-o I.:i f-o I.:i Z Z
0 - 0 I'<: 15 ~
::l ::E ~ 0 U I.:i ~
Z Z (;)
- ~ tIl ~ 8 0 ~ z
~ ~ Q ::l
CO/~/.\O~'Wr:AL TH or I',,:INSYLVANIA
OE?hRT/.I"~'T OF R"VENUE
BUREAU OF COUNTY COLLECTIONS
APPLICATION FOR AND CONSENT
TO TRANSFER SECURITIES
REGISTERED IN THE NAME
OF A RESIDENT DECEDENT
~':\
l:\r&;~~f)
-~
APPLlCATIO~ (MUST BE FILED IN TRIPLICATE)
TO THE PENNSYLVANIA DEPARTMENT OF REVENUE:
Application is hereby mode lor consent to the transfer 01 the lollawing securities 01 0 Pennsylvania
Corporation or 0 Notional Bonking Associalian located in Pennsylvania:
DATE April 17, 1980
(0) 280 shs. (b) P. H. Glatfelter Company (c) Common Stock
(NOTE: In describing securities enter in (0), ab Ole, either ,he number 01 shores of stock or the lace amount 01
registered bonds, in (b), the nome 01 the issuing company and in (c) the closs 01 stock or fhe stated interest rote
ond maturity dote of registered bonds.)
ISSUED ON various dates ,ond having 0 TOTAL MARKET V AWE OF $ 6,772.50
(Date)
os 01 the dote 01 death 01 the decedent Harren C. Phillips
,
(NamD af Decedent)
on March 18, 1980
,
(Date of death)
who was late 01
18 North 23rd Street, Camp llill, Cumberland County, Pennsylvania
17011
(Street and Number) (Post Office) (County) (State)
The securities ore registered os lallows:
Harren C. Phillips
(Namo or namtls in which certificates are reglstored)
~A~~ Hamilton Bank. 222 Market St.. P. O. Box 1071. Harrisburg. PA
EXECUTOR) (Name) (Addr.,,) 17108
NAME OF APPliCANT __Ram;U...t_o.lLliank, Executor
222 Market St., P. O. Box
COUNTY FILE NUMBER~.:(}-d"()- d:;)'~ ADDRESSOF APPLlCANT-H
.[fIUn-
BUREAU FILE NUMBER_ SIGNA TURE OF APPLlCANTB}c. t,!.{ 1 """ 'Pr,,"~i dent
NOTICE: IF YOU FAIL TO PROPERLY FILL IN ANY PORTION OF THIS APPLlC ION, I WILL NOT BE
CONSIDERED COMPLETE AND WILL BE RETURNED TO YOU FOR CO PLETION.
COMMONWEALTH OF PENNSYLVANIA - DEPARTMENT OF REVENUE
CONSENT TO TRANSFER SECURITIES
DATE
I hereby consent to the transler 01 the above securities now registered in the nome of the 0
,.{If.; 10ft;
Decedent and waive the filing 01 0 certificate certilying to the payment 01 the transler inheritance tax to which
the property of said Decedent is mode subject pursuant to the proyisions 01 the Act 01 June 20, 1919, P.L. 521,
os amended and Ihe Act 01 June 15, 1961, P.L. 373, os amended." This is also in accordance with the provisions
01 the Act 01 April 9, 1929, P.L. 343.
This Consent to Transler the herein described property operates only in relerence to the estate of the
above-named Decedent.
(. }'t",> ,""
..';7B~\'~"'."/
f' ..I'''.''f "-
','t ',.:W}.!!i:.,I~"
.~f'~OrJo""
..:t,'~'il.li.:1.':"";
Sig;ed tr the S1cretary 01 ReYenu~
~ ~~'-f'-\ j
By , . l,,(\ --, 1~1 L, 'I C....Q.
vi\ ~ (Slgn,a~~r) , , "
"/~t ~1 ~. I.
c/ \_ I "~J ~~ '., founty):,).
COURT OF COMMON PLEAS OF CUMBERLAND CQUN'fY,
PENNSYLVANIA ORPHA}!S' COURT DIVISION
ESTATE OF WARREN C. PHILLIPS, DECEASED
LATE OF CAMP HILL BOROUGH
FIRST AND FINAL ACCOUNT OF
HAMILTON BANK, EXECUTOR
Date of Death: March 18, 1980
Letters Granted: April 3, 1980
First Complete Advertisement of Grant of Letters: April 25, 1980
Account Stated to April 1, 1981
SUMMARY AND INDEX
PAGES
PRINCIPAL
Receipts
Plus Gain on Conversions
2
2-3-4
Adjusted Balance
Less: Disbursements
4-5
Balance before Distributions
Distributions to
Beneficiaries
6
6
Investments
PRINCIPAL BALANCE REMAINING
INCOME
Receipts
Less: Disbursements
6-7
7
INCOME BALANCE REMAINING
COMBINED BALANCE REMAINING
UL',Lt( ~.,.~J t'llL..: ;~.u
- 1 -
$ 76,349.33
7,103.86
$ 83,453.19
21,604.27
$ 61,848.92
9,557.50
$ 4,692.48
172.60
$ 52,291. 42
4,519.88
$ 56,8ll.30
4-21-80 Register of Wills
4-22-80 Joseph McGraw, Appraiser
Harry M. Wimer, Appraiser
Bell of Pennsylvania
5- 6-80 Commonwealth National Bank
Rolling Greem Memorial Park
Musselman Funeral Home
Stephenson's Flowers
Boyer & Ritter, CPA
West Shore Times
7- 1-80 Vital Statistics
7-24-80 Register of Wills
8-20-80 Harrisburg Hospital
9-22-80 Register of Wills
12-16-80 Register of Wills
12-17-80 David 1. Gilgun & Co.
12-19-80 Register of Wills
Register of Wills
2-26-81 Register of Wills
Gwendolyn M. Phillips
4-30-81 Register of Wills
Register of Wills
Keefer, Wood, Allen & Rahal
Hamilton Bank
Short Certificates
Appraisal or real estate property
Appraisal of personal property
Telephone service
Unpaid balance loan #0168337921
Interest on loan to 5/6/80
Memorial
Funeral services
Balance due
Professional Services
Advertising Letters Testamentary
Death Certificates
Short Certificate
Balance due
Short Certificates
Short Certificate
Appraisal of Clock
Filing Inventory, Inheritance Tax
Report & Statement of Debts
Pa. Transfer Inheritance Tax
Short Certificate
Family exemption
Filing Amended Inventory and
amended Tax Report
Additional Pa. Transfer Tax
Attorney's Fee
Executor t S Fee
TOTAL PRINCIPAL DISBURSEMENTS
Lk~l{
:...d If,L~
I"; V
- 5 -
* 9.00
175.00
110.00
132.54
3,500.00
118.28
675.00
3,133.80
101. 23
650.00
16.75
9.00
1.00
32.00
2.00
1.00
25.00
9.00
3,320.20
1.00
2,000.00
6.00
139.47
3,684.00
3,684.00
$ 21,604.27
PRINCIPAL DIS'I'IUI3U'I'IONS '1'0 BENEF'ICIAHIES
Stephen J. Phillips
Diamond Masonic Ring
Warren C. Phillips, Jr.
lIall Clock
Ship Model
Too Is
Gwendolyn M. Phillips
Tangible Personal Property
U. S. Postage Stamps
TOTAL PRINCIPAL DISTRIBVrIONS TO BENEFICIARIES
PRINCIPAL INVESTMENTS
6- 5-80 $ 3,000 U. S. Treas ury Bills due 8/14/80 $ 2,956.48
1,000 U. S. Treasury Bills due 7/10/80 993.11
2,000 U. S. Treasury Bills due 8/14/80 1,970.99
6-24-80 30 ,000 U. S. Treasury Bills due 9/25/80 29,461. 57
7-16-80 1,000 U. S. Treasury Bills due 1/15/81 960.82
23,000 U. S. Treas ury Bills due 10/16/80 22,549.42
7-17-80 1,000 U. S. Treasury Bills due 8/28/80 991.13
8-13-80 . 5,000 U. S. ~'reasury Bills due 2/12/81 4,777.56
9-25-80 30,000 U. S. Treasury Bills due 12/26/80 29,248.66
9-26-80 7,431 shs. Harsco Corp., Common 239.18
10-16-80 23,000 U. S. Treasury Bills due 1/8/81 22 ,461. 72
12- 1-80 5,000 U. S. Treasury Bills due 4/2/81 4,7611.03
12- 3-80 1,000 U. S. Treasury Bills due 3/5/81 963.60
12-24-80 30,000 U. S. Treasury Bills due 3/26/81 28,923.75
1- 7-81 23,000 U. S. Treasury Bills due 7/9/81 21,393.04
1-14-81 1,000 U. S. Treasury Bills due 7/16/81 930.13
2-11-81 5,000 U. S. Treasury Bills due 8/13/81 4,633.98
3- 9-81 1,000 U. S. Treasury Bills due 3/26/81 993.59
INCOME RECEIPTS
5-14-80
5-16-80
5-29-80
6-26-80
7- 3-80
7- 7-80
7- 8-80
8-11-80
11- 7-80
11-18-80
Dividends
260 shs. P. H. Glatfelter
440 shs. Newcor, Inc.
150 shs. NY Electric & Gas
40 shs. International Business Machines Corp.
145 shs. Eastman Kodak Co. .
150 shs. Interlake, Inc.
100 shs. Ohio Edison Co.
440 shs. Newcor, Inc.
440 shs. Newcor, Inc.
78 shs. Harsco Corp. li~il\ L.,) I;,,,
!....,.:t;
- 6 -
$ 1,560.00
800.00
4,500.00
200.00
2,493.00
4.50
$ 9,557.50
$
112.00
72.60
66.00
34.40
87.00
82.50
44,00
72.60
72.60
39.00
2-23-81 78 sho. Harsco Corp.
40.95
Interest @ 6% on Sale of Bus iness Ass ets :
5- 8-80
5-15-80
6- 2-80
7- 9-80
$
2.26
1.20
1.51
.73
5.70
Treasury Bills:
$ 1,000 61 5/80 - 7/10/80 $ 6.89
5,000 6/ 5/80 - 8/14/80 72.53
1,000 7/17/80 - 8/15/80 6.50
30,000 6/21~/80 - 9/25/80 538.43
23,000 7/16/80 - 10/16/80 450.58
30,000 9/25/80 - 12/26/80 751. 34
23,000 10/16/80 - 1/ 8/81 538.28
1,000 12/ 3/80 - 1/14/81 15.12
1,000 7/16/80 - 1/15/81 39.18
5,000 8/13/80 - 2/12/81 222.44
1,000 3/ 9/81 - 3/26/81 6.41
30,000 12/24/80 - 3/26/81 1,076.25 3,723.95
Miscellaneous
9-26~80 Dividend on 401.392 shs. of Harsco Corp. received via reinvestment
in Harsco Common (7.431 shs.)
239.18
TOTAL INCOME RECEIPTS
$ 4,692.48
INCOME DISBURSEMENTS
3.,20-81 . Hamilton Bank
Commissions through 3/20/81
$
$
172.60
172.60
TOTAL INCOME DISBURSEMENTS
HAMILTON BANK, EXECUTOR
'~:7'/,.-;:._~i1 ;.'/ ,
By: ,~;.C' Y''l:J-<2__L i.': -c: ~.
Vice President
LJ-
ESTATE WARREN C. PHILLIPS, DECEASED
UL.~~ L,."J t ill,~ I...JJ
- 7 -
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
}-
55:
J1!xmonc;Lj'" Cam~_Qn.,_:v.ic_e..-Rr_e.s.idenLOLHamil_t.on.B.ank
being duly --sw=n-- dccording to law, doposes and says that the .llamilton RRnk 1 S
E~eJ~ll.to_L-_____- of tho Estate of Warren C. Phillips
lato of ~mp.Jii:I.J, _____________ __.____._____.__ , Cumberland County, Pa., deceased and thet the
within is an inventory mado by _Hamil tOIl-Bank ., the said F.xPl'lItnr
01 the entire estate of said decedent, consisting of all the personal property and real estate, except real estate outside
the Commonwealth of Pennsylvania, and that the figure, opposite each item of the Inventory represent it's fair value
es of the date of decedont's death, HAM)TON BANK
Sworn to and subscribod before me, ~ '"/
B.y.: a ~./ .
December
II
19 80
t:::!!.;zp/?~
Vice
President
\ \ >.r"'-_~,~ '~~C"
USA at.' .,. !.r~.HM;\' PUfJLlC \
H,\p'!lISBUi){", nl~UP;~jN C(/UNTY
MY COMMISSiON EXPlIllS NOV. 19, 199"
Member, rE!lri~j'l\'~niJ I~ssc~iiltion of N:.liHies
222 Market~eet
Harrisburg, PA
17108
Addren
Date of Death
18
O'Y
MRrch
Month
19RO
Yoar
INSTRUCTIONS
I. An inventory must be filed within three months alter appointmont of personal representative.
2. A supplement inventory must be filed within thirty days of discovery nf additional assets.
3. Additional sheets may be attached as to personalty or realty
4. See Article IV, Fiduciaries Act of 1949.
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SUPPLEHENTAL
COMMONWEALTH Of PENNSYLVANIA I.
COUNTY Of CUMBERLAND J
55:
Peter A. Schwiers.... Vic.e Pres_:h.Q.@t;:.,-.J!amiltpn Bank,
being duly swQJ:IL______ according to law, deposes and s,'ys that ke _Ham:L.1-ton-Bank,-is-
Exac.ut.OL._____________ of the Est"te of _._Harren C~i11iP...5--._.
I Camp Hill d
ate of ,Cumberlan County, Pa" dece.sed and that the
'th'" d b Hamilton Bank h 'd Executor
WI In IS an Inventory mil 0 y ___.~__-----... -- .-_-.--'1 t C Sill
of the entire estate of said decedent, consisting of all the personal proputy and real estate, except real estate outside
the Commonwealth of Pennsylvania, and that the figures opposite each item of the Inventory represent it's f.ir value
as of the data of dacedcnt's death.
Sworn to
and subscribed bcfo.'e me,
HAMILTON BANK
l B,?~~~::;;~~
. , \
L:.~L/l-?
Vice President
April 30 19 81
_{!/.~ ;..07 ( .k] (t , {(h.e r ,uP
Christine C, Wic',nnd, NOTl'.R'I PUBLIC
My Commi~~:O';'l b:.\rC5 rC\'I\J:'<ry 4. 1~35
Harrisburg. rA OlUphln CounlY.
222 Market Street
Harrisburg, PA
17108
Addreu
Day
March
Month
1980
Date 01 Death
18
Yoar
INSTRUCTIONS
1. An inventory must be filed within three months alter appointment of personal representative.
2. A supplement inventory must be filed within thirty days of discovery of additional a"ets.
3. Additional sheets may be attached as to personalty or realty
4. See Article IV, Fiduciaries Act of 1949.
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CCMMONWEAL nt or PENNSYLVANIA
OEPARTMENT OF REVENUE
TRANSFER INHERITANCE TAX
RESIDENT OECEDENT
SCHEDULE "F"
STATEMENT OF DEBTS
AND DEDUCTIONS
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File No. 21-80-227
------_.---_....._.~--
..-,.,=- .-..=-...::;=-~'...;... :.-....--"-- --=- .-~_..-----._~.__..-..._-- .
Estate of Warren C. Phillips Date of Death March 18 1 gRn
WHEN CLAIMING THE FAMilY EXEMPTION, COMPLETE THE FOllOWING:
Claimant r.wpnnn 1 yn M 1>1-"; 11 j p.
Relationship to Decedent w; fp
Claimant's Address
643 Cedar Ridge Lane.
Mp.cn:tn; ~~n""'g PA
,
17n"c;
-
ITEM DATE NAME OF PAYEE REMARKS AMOUNT
NO.
1 4/ 1/80 Register of Wills Letters Testamentarv Ii, nn.
Short Certificates 6.00
2 4/11/80 Cumberland Law Journal Advertising Letters Testamentar " 20.00
3 4/16/80 Pa. Dept. of Revenue Balance on 1977 tax return 50.00
4 4/21/80 Register of Wills Short certificates q nn
5 4/22/80 Joseph McGraw, Appraiser Appraisal of real estate nr 17S nn
6 Harry M. Wimer, Aopraiser Anoraisal of nersonal nronertv I.n nn
7 Bell of Penna. Telenhone service 132 51.
8 5/ 6/80 Commonwealth National Bank Unnaid balance on loan
. #0168337921 3,500.00
Interest on loan to 5/ 6/80 118.28
9 Rolling Green Memorial Mpmnri"l li7S no .
10 ,Park. ServiC'..e_iL ' 1" Rn
Musselman Fun~l Home
11 Stenhenson' s Flnwer~ Balance due 1 nl ?,
12 Boyer & Ritter, CPA Professional services 650.00
. .
13 West Shore Times Advertisin~ Letters Testamentar v 16,75
1lL .7/1/Rn Vital StatistiC3L-- Dearh certificates g.on
15 7/24/80 Register of Wills Short certificate 1.00
16 8/20/80 Harrisburg Ho~i.tal Balance due 32.00
17 9/22/80 Register of Wills Short certificates 2.00
-
18 Gwendolyn M. Phillips Family Exemption .. 2,000.00
-
19 Commission on sale of secu ities 757.47
(contiTl.'.ledL ---. ---
REV.4,'5S (1.80)
C~..1MUNWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
TRANSFER INHERITANCE TAX
RESIDENT DECEDENT
PAGE No. 2
SCHEDULE "F"
STAHMEr.!, OF DEBTS
AND DEDUCTIONS
--.--.-. -.----.-.---...-. _._._~--_._---- -~-_._.- ......-... -.- ,..._-.-_......._....."^"--_.~. . -
--- --.-...-.---- -~ - -.---------
Estate of Warren C, Phillips Date of Death March 18 , 1980
WHEN CLAIMING THE FAMILY EXEMPTION, COMPLETE THE FOLLOWING:
File No. 21-80-227
Claimant Gwendolyn M.Phillips
Relationship to Decedent
wife
Claimant's Address 643 Cedar Ridge Lane. Mechanicsbur~. PA 170~~
m
ITEM DATE NAME OF PA YEE REMARKS AMOUNT
NO.
-2.0 !<J'5!fer~od . Allen & Rahal .At.t;QrDey' sPP ,(;8400
21 Hamil ton Bank Executor's fee 3.684.00
22 Retained for c1osino- admini tr.J!.liQ~ . ~oo 00 ,
.
.
.
.
.
.
.-
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TOTAL THIS PAGE I $18.368.07
I hereby certify that to the best of my knowledge and beiief the foregoing is, just and true statement of debts, funeral
expenses and expenses of administration submitted to the esr.J\P as deduclio s for nliejitance Tax purposes.
LTON B xedutor
B : .l'. " - .<'X-;n/!{/..!<Vl Dllc. 15 1980
SIG ATURE OF ATTORNEY/FIDUCIARY DAT~ '
OFFICI
DEBTS AND DEDUCTIONS ARE ALLOWED IN THE SUM OF S '1, .3 ft; 0 (,J 1 AT
,
ent
&
PERCENT.
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, /'1/ ~ I . I
v I {(Lill &, ..?)i!.t(rtA~
. rJGISTER OF W. LS
.F~;( /-ll
DATE
.
GENERAL INHERITANCE TAX INFORMATION
Unsatisfied liabilities incurred by the decedent prior to his/her death are deductible against his/her taxable estate.
In addition to debts incurred by the decedent or estate, other items are claimable including the cost of administration,
attorney fees, fiduciary fees, funeral and burial expen~es includin!) the cost of a burial lot, tombstone or grave marker.
All debts being claimed against an estate are subject to the approval of the Register of Wills with whom the
Inheritance Tax Return is filed. Evidence to support the decedent's or the estate's liability for the debts being claimed
should be attached to this schedule.
A family exemption of $2,000 may be claimed by a spouse of a decedent who died domiciled in Pennsylvania.
If there is no spouse, or jf the spouse has forfeited his/her rights, then any child of the decedent who is a member of
the same household can cluim the exemption. In the event there is no such spouse or child, the exemption can be
cluimed by a parent or parents who are members of the same household as the decedent.
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INSTRUCTIONS FOR COMPLETING SCHEDULE "F"
1. If the family exemption is being claimed, indicate the claimant's name, address und his/her relationship to the
decedent. Enter "familv exemption" in the remarks column and the amount claimed in the amount column.
2. Assign consecutive numbers to each item listed.
3. Enter the date on which eacil debt was incurred and/or paid.
4. Enter the names of each payee.
5. Provide a brief explanation in the remarks column for each debt claimed.
6. Enter the umount of each debt being claimed.
7. The form must be signed by the person who has assumed the responsibility for paying the debts.
QUESTIONS CONCERNING PROPERTY TRANSFERS
I. Did d,,"'_', w'.;o ,.. "'" 0' "'., "k, My"'" ,,, 0' My".,;" .", 0' ht, "." W;.OO' "00""
valuable and adequate consideration? (Answer "Yes" or "No",) _
Z Did'"",,,,, w; ." ,.. y"" of d..., "M' ,,, ,m, "'y fm, ht. "IV h"~1t . ht,.., Vh,,~1t "d Mo'h" '''.
or parties (including a Spouse) in jOint ownership? (Answer "Yes" or "No".) _
3. If th, """ '0 0", "' 'oo '00" " "y,," .., 'h, ,,,""," '" oI"m'" . b, '" '.'.', "",ldo ., b"ow'"
information:
a. Age of decedent at time of transfer.
b. Copy of death certificate.
c. Affidavit by the attending physician indicating the state of decedent's health at time of transfer.
d. All other information supporting nonlaxability of transfer.
4. Did decedent, in his/her lifetime, make any transfer of property without receiVing a valuable or adequate consideration
therefor which was to take effect in POssession or enjoyment at or aller his/her death? (Answer "Yes" or "No".)
a. Was there any possibility that the Property transferred might return to transferor or his/her estate or be subject
to his/her power of disposition? (Answer "Yes" or "No".)
b. What was the transferee's age at time of decedent's death?
5. Did decedent in his/her lifetime make any transfer without receiVing a valuable and adequate consideration therefor
under which transferor expressly or impliedly reserves for his/her life or any period which does in fact end before hiS/her
death:
a. The Possession or enjoyment of or the right to income from the property transferred? (Answer "Yes" or "No".) _
b. The right to deSignate the persons who shall possess or enjoy the property transferred or income therefrom?
(Answer "Yes" or "No".)
6. If the answer to five b. above is "Yes," was the right reserved in decedent alone ( ) or decedent and others ( ).
7. DI d 00'''''" ;, h' '11<" tit,,;", "',, , 'M' '''' ., '''Od''''oo b, .,. 00, "M""'" ,mm' ~ . ,~ "00",
to or for the benefit or care of transferor? (Answer "Yes" or "No".)
8. Did decedent, at any time, transfer property, the broeficial enjoyment of which was subject to change, because of
a reserved power to alter, amend, or revoke, or which could revert to decedent under terms of transfer or by operation of
law? (Answer "Yes" or "No".)
9. If., ",." · ",hi '00" ;, "y".', '" ., 00'" . ''''', ".d "'wk, th, "".,!" ,", 00"".'0 "''''''
in the decedent alone ( ) or decedent and others ( ).
"
REV-453 EX~' (10-80)
COMMONWEALTH OF PENt'SYLVANIA
DEPARTMENT OF REVENUE
TRANSFER INHERITANCE TAX
RESIDENT DECEDENT
SCHEDULE "D"
BENEFICIARIES
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(l1Istfflct;ons an Reverse Side)
Estate of Warren C. Phillips
BENEFICIARIES AND ADDRESSES RELATIONSHIP SURVIVED DATE OF INTEREST OF BENEFICIARY
DECEDENT BIRTH
~e original I1nnl"R; ~, "'~.4 n. ' 0 , non
.
.
.
.
.
.
The above beneficiaries were living at the time of the decedent's death except for the following:
NAME
DATE OF DEATH
If additional space is necessary. use 8%" x 11" sheets.
, ,
RI::V"4~" EX+ (R'"1l01
COMMONWEAL TH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
TRANSFER INHERITANCE TAX
RESIDENT DECEDENT
SCHEDULE "E"
JOINTLY OWNED PR'JI'ERTY
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Estate of Warren C, Phillips
ITEM
NO.
-~-,-+-_.-
TOTAL PE VALUE OF DEPARTMENT
MARK ET p DECEDENT'S VALUATION
DESCRIPTION c
VALUE E INTEREST {OFFICIAL USE ONL YI
~T
----- -'
See original appraisement filed December 15, 1980
L_______
TOTAL
If cdditionol spcce is necessary. use B'I," x 11" sheets.
'.~
\
Schedule "E" must include all property, real and personal, owned by tbe decedenl jointly with another
party or parties as joint tenunts with rigbt of survivorship. Bolll tangible und intangible property are to be
included. List real estate first.
INSTRUCTIONS FOR COMPLETING SCHEDULE "E"
1. Describe all real property as indicated in the instructions for Sclledule "A." Describe all personal property
as indicated in tile instructions for Schedule "B." Include tbe name, address and relationship to the
decedent of the co.ownerls] and the date tbe joint ownership was established,
2. Indicate the total market value of the jointly owned property.
3. I ndicate the percentage of the decedent's interest.
4. Indicate the market value of the decedent's interest.
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COMMONWEAL TH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
TRANSFER INHERITANCE TAX
RESIDENT DECEDENT
INHERITANCE TAX
APPRAISEMENT
'*'
-
Estate Df
Warren C. Phillip"
File No. 21-8(]-D~27
Countv
Cumberland
Date of Death 3-18-80
In the ayent that any uture Inter81t In thil onate II tr8~Jf8rr8d In POflOSllon or enjoyment to colllleral a not e ece ent a ter t e exp rat on 0 any
ollato for life or for Y88U, the Commonwealth heroby expresslv roservos the right to epprllrle and RIIMS trender Inheritance taxes at the lawful coUatanl r&te
on any such futuro Interest.
PROPERTY REPORTED BY THE ESTATE
DEPARTMENT'S
APPRAISED VALUE
-0-
2,273.25
-0-
-0-
1. TOTAL REAL PROPERTY - SCHEDULE "A" , .
2. TOTAL PERSONAL PROPERTY - SCHEDULE "B"
3. TOTAL TRANSFERS - SCHEDULE "C" . . . .
4. TOTAL JOINTL Y OWNED PROPERTY - SCHEDULE "E"
TOTAL REPORTED PROPERTY
2,273.25
PROPERTY NOT INCLUDED IN RETURN BUT APPRAISED BY THE COMMONWEALTH
TOTAL UNREPORTED PROPERTY
-0-
TOTAL GROSS ASSETS
$2,273.25
LIFE ESTATE OR ANNUITY CALCULATION
I do hereby certify that the above appraisement is made in conformity with Pennsylvania law and has been filed this day
with the Register of Wills,
'&IM/,,;ii'ffJ1I/'" )
J~ppnAISER
5-7-8-81
DATE
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IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ~~
ORPHANS' COURT DIVISION %~
------------------------------------------------------------------------------------~
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ESTATE OF WARREN C. PHILLIPS, DECEASED 4~
LATE OF THE BOROUGH OF CA}W HILL, PENNSYLVANIA ~~
__ _ _ _ _ _ _ _ _ __,.._ __ __ _ _ _ _ __ _ __ _ _. _ __ _ _ _____ _. __ _ .___ _ -- - --.-.- .-- - - -- --.- - - - - -.- - - - - - - ~i
',!;,,4:,
STATEMENT OF PROPOSED DISTRIBUTION ~r
OF ~
FIRST AND FINAL ACCOUNT OF \~.'i".;.'.~.
lU\MILTON BANK ~t
FORMERLY NATIONAL CENTRAL BANK {;l
---------~:-::::::::::::-:::::::~-~::~~~~~~:-::-::-~:::~::----------------------li
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Balance for Distribution:
Principal Cash
Income Cash
$ 52,291.42
4,519.88
$ 56,811.30
Hamilton Bank, Trustee under the Will
of Warren C. Phillips, Deceased
$ 56,811.30
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Distribution is proposed as follows:
The Proposed Distribution is in accordance with the Last Will and
Testament of Warren C. Phillips, Deceased. Item Second of the Will
gives, devises and bequeaths all the rest and remainder of the ,
Estate, real, personal and mixed, to National Bank and Trust Company
(now Hamilton Bank) as Trustee under a Trust Agreement dated
December 19, 1969. Item Three of that Trust Agreement states
that the Trustee shall set aside a portion of the Estate that will
equal the maximum marital deduction allowable in determining
Federal Estate Tax. That provision has been met with insurance
proceeds. Item Three of the Trust Agreement goes on to instruct
Hamilton Bank as Trustee to set aside all other assets as
Trust B.
HAMILTO~ ~ ~K , .4
BY.~S /' / ,}01L{l,d~/c'7-
Peter c w~ers, Vice President
Executor of the Estate of Warren C.
Phillips, Deceased
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COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
BUREAU OF EXAMINATION
'*
OFFICIAL NOTICE OF
INHERITANCE TAX
ASSESSMENT
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0/ :';'
COUNTY FILE NO:
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FILE NO,
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ESTATE
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DATE OF DEATW'>?/i/ ,-1/;', 11/ /oJl:JJ
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Appraised Valuo of Estate:
Real ESlale
$ '-
Personal Property
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+ :;-" /..1 '/ "";" .-./0
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Jointly Held PropertylTransfers
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Total Gross Estate
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Total Approved Deductions
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Clear Value of Estate
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Less; Approved Charitable Exemptions
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Clear Value of Estate Subject to Tax
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Amount Taxable @ 6% Rate
$ -'
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tax due
$
Amount Taxable @ 15% Rate
tax due
.. "* "* '* 'It 'lit
TOTAL PENNSYLVANIA INHERITANCE TAX DUE
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'--;1:';/ .. -I- ',' + '/-::"'/",,_1 /,)'1 "/-,, '-. 'f} "
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'-'-'A 'five ~ercent discount totaling $,~""" - _.~.
Inheritance Tax is paid by
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will be granted if the
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Less Credits:
DATE OF PAYMENT
AMOUNT PAID
DISCOUNT
INTEREST
TAX CREDIT
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=
+
=
Interest accrues at the rate of six (6) percent per annum
on the unpaid balance of Inheritance Tax from
to date of payment. Interest due if paid by
is
,/;/
BALANCE OF PENNSYLVANIA INHERITANCE TAX DUE
$
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Assessed by: ' ":;> / / /IA,,/ l'/
. , Agenl fot the Commot'lwnllll
See Information on Reverse Side ,-,,:c", /v~ /
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Settlor, and approved distribution of the residue of the Estate
to the Trustee, in the amount of $56,811.30.
4. Under the terms of Item Three of the Trust Agreement,
upon the Settlor's death, the Trustee was instructed to set aside
from the assets of the Trust an amount equal to the maximum
marital deduction then allowed in determining the Federal estate
tax, and to hold and administer such assets as Trust "A". The
assets not allotted to Trust "A" were to be held and administered
as Trust "B". Trust "A" and Trust "B" were subsequently funded
in accordance with the formula contained in the Trust Agreement.
5. Trust "A" has since been terminated by distribution of
all income and principal to the Settlor's surviving spouse,
Gwendolyn M. Phillips, in ,accordance with the terms of the Trust
Agreement, and is not subject to this Agreement.
6. The Trustee has administered Trust "B" for the benefit
of the Settlor's surviving spouse, Gwendolyn M. Phillips, and the
Settlor's surviving issue, Mary P. Misenhelder, Jean P. Dalina,
Warren C. Phillips, Jr., M.D., and stephen J. Phillips (collec-
tively, the "Beneficiaries"), in accordance with the terms of the
Trust Agreement. As of September 13, 1993, the total principal
and income in Trust "B" consists of various assets and cash,
having a fair market value of Seventy One Thousand Seven Hundred
Fifty-Two Dollars and Ninety-six Cents ($71,752.96).
7. It is the desire of the Beneficiaries that the Trustee
terminate Trust "B" now by distribution of the remaining princi-
-2-
!~GGK 12G p,l.n- 300
D. Releases. The Beneficiaries, for themselves, their
heirs, personal representatives, successors and as-
signs, hereby absolutely and irrevocably remise, re-
lease, quitclaim and forever discharge the Trustee (in
its capacity as a fiduciary and in its corporate capac-
ity) and each and every of the Trustee's employees,
agents, attorneys, advisors, and counselors, and their
respective heirs, personal representatives, successors
and assigns, of and from any and all actions, paymen~,
accounts, reckonings, liabilities, claims and demands
relating in any way to the Trustee's administration of
Trust "B", including but not limited to the failure of
the Trustee to file an account of such administration
with, and obtain the approval of, the Court, and the
termination of Trust, "B" as provided herein.
E. Refunds. Each of the Beneficiaries, to the extent of
the funds received by him or her hereunder, covenants
and agrees to refund upon demand by the Trustee all or
any amount which may hereafter be determined by the
Trustee or by the Court to have been an erroneous or
excess distribution to him or her regardless of the
cause of such erroneous distribution, and agree that
any period for the limitation of actions for the col-
lection of any erroneous distribution to him or her
shall commence only at such time as the Trustee shall
have obtained actual knowledge of such erroneous dis-
tribution and that in no event shall the period for the
collection of any erroneous distribution be less than
two years after the actual discovery thereof by the
Trustee.
F. Indemnifications. The Beneficiaries agree to indemnify
and hold harmless the Trustee from and against any and
all claims, loss, liability or damage which it may
suffer or to which it may be subjected by reason of its
administration of Trust "B", the distribution of Trust
"B" based on the informal accounting and not a formal
accounting, and the distribution of the assets of Trust
"B" without having the approval of the Court. The
Trustee shall not be indemnified nor held harmless for
any act or omission which would constitute a breach of
its fiduciary duty, a violation of law, or act of bad
faith or gross negligence.
G. Voluntary Act. The Beneficiaries agree that this
Agreement has been freely and voluntarily executed, and
that they have not relied on any special inducement,
-4-
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to such person or per SOliS , including her estate, in 8ucll propor-
tions, in Buch manner and for elUch ostates aD flhft ohall flpe-
cifically appoint by her Last Will hnd Tentamont. In default of
such appointment, either in whole or in part, the Tr.ustee ohall
payout of the unnppointed principal of TruAt A any increase in
the Federal estate tax on the estato of Settlor's wife resulting
from her possession of the powor of appointment over. the principal
of Trust A, and shall add the balMce of Trust A to Trust B.
TRUST n
The Trustee shall set aeide all other assets that it holds or
that are payable at the d9ath of the Settlor, or at MY other timCll,
as Trust B I
(8) To pay the net income, at least quarter-annually,
in such proportions as it may determine, in its absolute discretion,
chanqing said proportions from time to time, to any or to all of
the following personsl Settlor's wife nnd Settlor's issue. In
addition, the Trustee, in its absolute discretion, may at any time
that the principal of Trust A has been exhauated, invade the
principal of Trust B to provide for the proper and ndequate support.
of Settlor'a wife and may at MY time invade the principal of Trust
B to provide for the propor and adequate support nnd education,
including higher oducation, of Settlor's iSRue. Proper and ade-
quate support and education may include such itl!ll11l ns medical
care, foreign travel and instruction in atbletic or cultural ac-
tivities.
-4';
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(b) It is Gett1or's intention to give broadest dis-
cretionary pCllII'er with regard to income and prind.pal to the Trus-
tee without need for equality of; distribution between or among
bis beneficiaries and without rocognitlon of intoBtacy proportions,
for the Settlor anticipates that th\~ Trustoe will attempt to handle
Trust a in the manner that Settlor ~~uld recrnmnend if physically
prenent.
(c) Settlor rocommendn, without restricting the abso-
lute discretion of the Truotee in any way, tllat. should Settlor's
wife be no longer living, or should she. in the opinion of the
Trustee, be adequately provided for by the remaining aBBots of
Trullt D and .other resources I\vailable to her. tho Trmltee give
consideration to distributing to each child of Settlor approxi-
mately one-third (1/3) of that portion of the principal of Trust
B Which the Trustee anticipates will ultimately be paid to Buch
child When the child reaches twenty-five (25) years of age,
approximately one-half (1/2) of the remaining portion when the
child reaches thirty (30) years of ago, and the remain~er when the
child reaches thirty-five (35) years of age.
(d) When settlor's wife is no longer living, and when
all of Settlor's living children have reached the age of thirty-
five (35) years of age, the Trustee shall terminate this trust and
make distribution to Settlor's issue in such amounts and pro~r-
tions as the Trustee, in its absolute discretion. may determine.
Any share of Trust n, income or principal, which becomes dis-
tributable at termination to a minor. shall be held in t~IBt by
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";1l'~'~I,.j!".t'f~\~:-'!:1-I"l., "I"\~"t I,.h, "
t:/,!ji\'i.,ll~,.....t..\t"'~l"l\,:,:""" ., ,~\"" ""', '" ., ' ,',:,'~
QI,,?t "-'1; 't .;i'll' "" " "...:; ,,",'1 ." . \ ,\ I, ~ ",' ,
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the Truatee during minority. Tho Trusta8 shall apply such amounts
of income and principal as it, in ita sole discretion, deems proper
for the support, education and welfare of such minor, and shall
acc:ulllUlate any unexpended balance of income. Such amount. may be
applied directly or may bo paid to the person with whom such minor
resides or who has the care and control of such minor, without the
intervention of a guardian. The Trustee ehall not be obliged to
supervise or inquire into the application of said amounts by such
person, and the receipt of such person ahall be a complete release
of the Trustee. Should the share of a minor, in the sole opinion
of the Trustee, be or become too small to warrant continuing such
fund in trust, or should its administration be or become imprac-
tical for any other reason. the Trustea, in its sole discretion.
may pay such share, Bhsolutely. to the parent or other person main-
taining said minor or may deposit such share in the minor's name
in a savings account in a bank or s~ving8 in~titution of its
chool!lin9. payable to the minor at majority.
(e) In the event that no issue of Settlor exists to
permit distribution as set forth in subparagraph (d) above. the
Trustee shall make distribution as follows: '
(i) Fifty percent (SQr,) to the Wills Eyo
HOspital, Philadelphia, Pennsylvania. without
restriction as to use:
(ii)
Fifty percent (50%) to the Department
, .
of Opthamology of Roly Spirit Hospital, Camp Hill,
Penn~ylvania, without restriction as to use.
-6-'
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(a) 'rho power to change the beneflciary of said poli-
cies or any of thorn,
(b) The right to receive all disability benefits. divi-
dends payments. loan values or llurX'onder values provided in said
policies ar any of them,
(c) The power to borrow an, surrender or pledge any of
said policies,
(d) The poweX' to exercise any apt ion provided in any of
Baid policiell, lluch as the !'OweX' to convert to a different Jdnd ar
amount of insurance, the poweX' to select the method of settl~nent
€If the proceeds of any of said policie~, etc.
It is< the intent of the parties hereto that the Trustee shllll
receive only the proceeds payable at the death of the insured (or
upon the death of the primary beneficiary. shauld the Trustee be
entitl€ld ta praceeds upon the death of the primary beneficiary),
BUbject to all laans and charges against such praceeds as may have
accrued during the Settlor's lifetime, and that tlle Settlor shall,
during his lifetime, retain all ether cantractual benefits, power.
and aptians under said policies.
The Trustee shall be under ne obligation, during the lifetime
€If the Settlor, ta pay any premitllllll, aSSGssments ar other charges
necol'lsary ta keep the paliciell in force, nor shall it be under any
obliqatian to ascertain whether the same have been paid, ar ta
notify the beneficiaries hereunder of the non-payment of premiums.
The Trustee shall keep safely any and all policies depasited
with it, and shall. at the request of the Settlor, execute such
",'
-8-
" .'
releasee and other instruments BS shall be required to permit the
Settlor to exercise any options, privileges or powers reserved to
him hereunder.
Upon the death of the insured (or upon the death of the pri-
mary beneficiary, should the Trustee be entitled to proceeds upon
the death of the primary beneficiary), the Trustee shall make all
reasonable efforts to collect such B\URS of money 8S shall be due
it under the terms of said policies of life insurance, including
double indemnity benefito, and hold the SlUlla in trust for the uses
and purposes hereinafter set forth. To facilitate the receipt of
such BUllIS of money, the Trustee IIhell have the pO\~er to execute
and deliver receipts and other instruments, to compromise or
adjust disputed claims in such manner 8S in its sole discretion
seemB just, and to take ouch steps as in its discretion arc neces-
sary and proper for collection thereofr orovided that. if payment
on any policy is contested, the Trustee shall not be obligated to
take any action for collection unloss nnd until it ahall have been
indemnified to its satisfaction against any loss. liability or
expense, inclUding attorney's fessr and provided furth~r, that the
Trustee is authorized, in its sole discretion. to use any funds in
its handa, Whether principal or income. to pay the costs and
expenses. including attorney's fees, of bringing an nction for the
collection of the proceeds of llny policy hereunder, and may reim-
burso itself for any advances made for such purposes.
Upon payment to the TrUi!<tee of tho l'JI1lOunts due under the
policies of insurance payable hereunder. the insurance companien
-9-
to deposit investmente under agreements, to pay nsoos3ments, and
generally to exercise all rights of inventors!
(k) To permit the proceeds of any insurance policy to
remain with the issuing insurance company for the benefit of any
income beneficiary under any optional method of settlement allowed
by the issuing company,
(1) TO inveat in endowment, insurance or annuity poli-
cies on the lives of beneficiaries hereunder,
(m) To do all other acts in its judgment necessary or
desirable for the proper management, investment and distribution
of the Trust Estate.
SIX, INSURANCE ON LIVES OF OTHERS.
with respect to any life insurance policies held by the Trus-
tee on the lives of other than Settlor. the Trustee is authorized,
(s) To apply any dividends or shares of surplus received
by it on account of such policies in part payment or abatement or
t'remi\llls thereon or to collect such dividends or shares of surplus
in cash and to distribute seme as income,
(b) To pay all premiums on such insurance (or any bal-
ance that may remain after application of dividends or surplus as
above authorized) from the principal hereof,
(c) TO permit tho proceed!! of or any emounts available
under any such policies to remain with the issuing insurance com-
pany for the benefit of any incOlllG or principal beneficiary here-
under, under MY of the optional methods of settlement provided in
8.i4 policies or allowed by the i.8uinq companieD (inclu4inq gpe-
-12-
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IN 11ITNESS liHEREOl',
tho Sott1or has horeunto sot his hand
and seal,
and tho 'fl"Ustee has caused these present!; to be oxecutod
by its duly authorized officers and ita corporate sen1 to be
hereunto affixed thia
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day of
19"",
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(.J "Jl.n.<-., <;, r _~"
WARREN C. PHILLIPS,
(S!~L)
Settlor
A'l'TEST,
NATIONAL DANK & '1'RU8'l' COHP1\NY 0T1'
CENTRAL PENNSYI,VA}!IA, Trustao
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SCHEDULE A
PlUMI\RY BENEFICIARY'
Policy
Company Number Amount
Equitable Life Insurance Company
of Iowa 680,633 10,000
Equitable Life Insurance Company
of Iowa 728,452 5,000
Equitable Life Insurance Company
of Iowa 744,295 5,000
Equitable Life Insurance company
of Iowa 744,304 13,500
The Northwestern Mutual Life
Insurance Company of
Milwaukee, Wisconsin 3,377,122 44,000
New England Mutual Life Insurance
Company 2,395,618 50,000
CON!l'INGEN'l' BENEFICIARY'
Policy
Comoanv Number Amount
Sun Life Assurance Company
of Canada 1,600,323 3,000
Bankers Life Company
of Des Moines, Iowa 1,222,170 3,000
The !l'rave1ers Insurance company
of Hartford, connecticut 2,237,536 3,500
The !l'rave1ers Insurance Company
of Hartford, Connecticut 2,237,537 1,500
~,
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Exhibit B
SUMMARY OF ACCOUNT
PAGES
PRINCIPAL
Receipts 3-5 $ 184,512.32
Net Gain on Sales or Disposition 6-12 44.378.60
$ 228,890.92
Less Disbursements:
General Disbursements 13-31 $ 148,960.41
Federal State & Local Taxes 31-33 7,671.15
Legal Fees 33 6,000.00
Fees and Commissions 34-39 10.135.26 -172.766.82
Balance before Distributions $ 56,124.10
Distributions to Beneficiaries 40 -7.521.15
Principal Balance on Hand 41 $ 48,602.95
For Information:
Investments Made 42
Changes in Holdings 43-47
INCOME
Receipts 48-77 $ 116,349.10
Less Disbursements 78-106 -40.650.67
Balance before Distributions $ 75,698.43
Distributions to Beneficiaries 107-115 -75.518.66
Income Balance on Hand 116 $ 179.77
COMBINED BALANCE ON HAND
$
48,782.72
================
- 2 -
PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS
GAIN LOSS
02/10/81 151 units Common Trust Income Fund
at 6.66
Net Proceeds 1,005.66
Acquisition Value 1.014.72 $ 9.06
03/10/81 198 units Common Trust Income Fund
at 6.52
Net Proceeds 1,290.96
Acquisition Value 1.330.56 39.60
04/10/81 2 units Common Trust Income Fund
at 6.63
Net Proceeds 13.26
Acquisition Value 13.44 .18
06/04/81 39 units Common Trust Equity Fund
at 16.07
Net Proceeds 626.73
Acquisition Value 642.33 15.60
06/16/82 156 Shs. Harsco corporation, I
Common at 16.75
Net Proceeds 2,574.31
Acquisition Value 2.497.3i $ 76.92 i
07/09/82 Common Trust Income Fund, Tax Lot Data I
Changes from 12/10/81 to 7/9/82 I
Net Proceeds 0.00 I
Acquisition Value 1.659.46 1,659.46 ,
!
07/09/82 Common Trust Equity Fund, Tax Lot Data I
Changes from 10/19/81 to 7/09/82 I
Net Proceeds 0.00 ~
Acquisition Value 40.84 40.84 i
I
08/07/85 23 Units Common Trust Equity Fund I
at 21. 30
Net Proceeds 489.90 I
Acquisition Value 332.25 157.65
FORWARD $ 234.57 $ 1,764.74 I
,
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,
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,
- 6 -
,'.,
PRINCIPAL GAINS OR LOSSES 0 SALES OR OTHER DISPOSITIONS
GAIN LOSS
FORWARD $ 234.57 $ 1,764.74
08/07/85 12 Units Common Trust Income Fund
at 7.53
Net Proceeds 90.36
ACquisition Value 76.12 14.24
12/09/85 27 Units Common Trust Equity Fund
at 22.04
Net proceeds 595.08
Acquisition Value 390.03 205.05
02/10/86 50 Units Common Trust Income Fund
at 7.97
Net proceeds 398.50
Acquisition Value 317.17 81.33
06/09/86 36 units Common Trust Equity Fund
at 27.79
Net proceeds 1,000.44
Acquisition Value 520.04 480.40
07/09/86 358 Units Common Trust Equity Fund
at 28.59
Net Proceeds 10,235.22
Acquisition, Value 5.171.51 5,063.71
10/07/86 38 units Common Trust Equity Fund
at 26.50
Net Proceeds 1,007.00
Acquisition Value 548.93 458.07
12/09/86 36 Units Common Trust Equity Fund
at 28.49
Net proceeds 1,025.64
ACquisition Value 520.04 505.60
FORWARD $ 7,042.97 $ 1,764.74
- 7 -
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PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS lcont'dl
GAIN LOSS
FORWARD $ 7,042.97 $ 1,764.74
02/10/87 16 units Common Trust Equity Fund
at 30.78
Net Proceeds 492.48
Acquisition Value 231. 13 261. 35
03/10/87 960 Units Common Trust Equity Fund
at 32.10
Net Proceeds 30,816.00
Acquisition Value 13.867.75 16,948.25
01/08/88 2,000 Units Common Trust Income Fund
at 7.82
Net Proceeds 15,640.00
Acquisition Value 14.368.42 1,271.58
01/08/88 500 Units Cornmon Trust Equity Fund
at 27.11
Net Proceeds 13,555.00
Acquisition Value 7.222.78 6,332.22
06/07/88 19 Units Common Trust Equity Fund at
27.45
Net Proceeds 521. 55
Acquisition Value 329.12 192.43
07/08/88 18 Units Cornmon Trust Equity Fund
at 28.36
Net Proceeds 510.48
Acquisition Value 311. 80 198.68
08/08/80 54 Units Common Trust Equity Fund
at 27.81
Net Proceeds 1,501.74
Acquisition Value 935.40 566.34
FORWARD $ 32,813.82 $ 1,764.74
- 8 -
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EgINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont/dl
GAIN LOSS
FORWARD $ 32,813.82 $ 1,764.74
08/08/88 194 units Common Trust Income Fund
at 7.76
Net Proceeds 1,505.44
Acquisition Value 1.429.55 75.89
10/07/88 19 Units Common Trust Equity Fund
at 27.27
Net Proceeds 518.13
Acquisition Value 329.12 189.01
11/08/88 19 units Common Trust Equity Fund
at 27.48
Net Proceeds 522.12
Acquisition Value 329.12 193.00
11/08/88 64 Units Common Trust Income Fund
at 7.9
Net Proceeds 505.60
Acquisition Value 471. 60 34.00
01/05/90 45 Units Common Trust Equity Fund
at 33.75
Net Proceeds 1,518.75
Acquisition Value 779.50 739.25
05/08/90 63 Units Common Trust Equity Fund
Net Proceeds 2,017.26
Acquisition Value 1. 091. 30 925.96
09/10/90 159 Units Common Trust Equity Fund
at 31. 52
Net Proceeds 5,011.68
Acquisition Value 2.754.24 2,257.44
12/10/90 125 Units Common Trust Income Fund
at 8.00
Net Proceeds 1,000.00
Acquisition Value 921.10 78.90
FORWARD $ 37,307.27 $ 1,764.74
- 9 -
.-....
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PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont'd\
GAIN LOSS
FORWARD $ 40,199.71 $ 1,764.74
07/0B/92 23B Units CoreStates Bond Trust
at 8.43
Net Proceeds 2,007.22
Acquisition Value 1.753.78 253.44
07/08/92 19 units CoreStates Growth &
Income Equity Trust at 162.77
Net Proceeds 3,092.74
Acquisition Value 1.370.69 1,722.05
08/10/92 234 Units CoreStates Bond Trust
at 8.57
Net Proceeds 2,005.43
Acquisition Value 1.724.31 281.12
12/08/92 357 Units CoreStates Bond Trust
at 8.42
Net Proceeds 3,007.42
Acquisition Value 2.630.67 376.75
02/05/93 232 Units CoreStates Bond Trust
at 8.62
Net Proceeds 2,000.71
Acquisition Value 1.709.57 291.14
03/05/93 230 Units CoreStates Bond Trust
at 8.71
Net Proceeds 2,004.81
Acquisition Value 1.694.83 309.98
04/07/93 12 Units CoreStates Growth &
Income Equity Trust at 180.34
Net Proceeds 2,164.17
Acquisition Value 865.70 1,298.47
FORWARD $ 44,732.66 $ 1,764.74
- 11 -
PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont I dl
GAIN LOSS
FORWARD $ 44,732.66 $ 1,764.74
06/07/93 232 units Corestate~ Bond Trust
at 8.65
Net Proceeds 2,008.33
Acquisition Value 1.709.57 298.76
07/08/93 229 units Corestates Bond Trust
at 8.76
Net Proceeds 2,006.72
Acquisition Value 1.6B7.46 319.26
08/06/93 571 units CoreStates Bond Trust
at 8.75
Net Proceeds 5,000.26
Acquisition Value 4.207.60 792.66
TOTAL $ 46,143.34 $ 1,764.74
-------------- ==============
--------------
NET GAIN TRANSFERRED TO SUMMARY $ 44,378.60
==============
- 12 -
GENERAL DISBURSEMENTS
10/17/80 Stephen Phillips, college
expenses
11/07/80 Stephen Phillips, college
expenses
11/11/80 Stephen Phillips, college
expenses
12/12/80 Stephen Phillips, college
expenses
12/18/80 Warren G. Phillips Trust
A, to fund Marital Trust
Warren c. Phillips Estate
No.04533860, reversal of
over funding
Transfer to Income
Jean P. Dalina per Trust
Memo 3/9/84
03/23/84 Jean P. Dalina per Trust
Memo dateJ 3/9/84
12/18/80
12/23/80
03/03/81
, 05/07/81
08/10/81
09/29/83
03/23/84
DISBURSEMENTS OF PRINCIPAL
$
1,360.00
149.66
520.00
60.93
Transfer to Income
Stephen Phillips, college
expenses
77,943.02
1,890.00
225.56
University of Delaware,
tuition and expenses for
Stephen Phillips
Stephen Phillips,
withdrawal
1,319.00
500.00
6,205.97
680.42
791. 76
1,208.24
FORWARD
$ 92,854.56
- 13 -
DISBURSEMENTS OF PRINCIPAL Icont'dl
FORWARD $ 92,854.56
GENERAL DISBURSEMENTS Icont'dl
03/26/84 reimburse toll calls 8.55
03/27/84 Grad1 E. McMfhan,
Esqu re, payoff
delinquent studen loan 1,971.15
09/24/85 Serratelli & Schiffman,
Professional Services
rendered for Jean Dalina 200.00
12/10/85 Serratelli & Schiffman,
Professional Services
rendered for Jean Dalina 800.00
08/15/86 Larry Misenhelder
Masonry, repair &
replacement of bathroom
floor per proposal 1,500.00
09/29/86 Mary Misenhelder,
bi-weekly sti~nd until
reinstatement of child
support benefits 300.00
10/21/86 Mary Misenhelder,
support payment per Trust
Committee approval 300.00
10/30/86 Keefer, Wood, Allen, &
Rahal, reimbursement for
out of pocket expenses 12.69
11/05/86 Mary Misenhelder,
support payment per Trust
Committee approval 300.00
12/03/86 Transfer to Income 1,612.71
FORWARD $ 99,859.66
- 14 -
r.",."
DISBURSEMENTS OF PRINCIPAL (contldl
FORWARD $ 99,B59.66
GENERAL DISBURSEMENTS (cont'dl
01/15/87 Mary Misenhe1der,
support payment per Trust
committee approval 300.00
02/09/87 Mary Misenhelder,
support payment per Trust
Committee approval 300.00
05/14/87 Gwendolyn Phillips Trust
No.041340100, transfer 256.25
10/02/87 William M. Brunner,
Professional services to
Mary P. Misenhelder per
attorney's letter of
9/29/87 and her
promissory note 750.00
10/28/87 Serrate1li and Schiffman,
miscellaneous expenses
Re: Jean Dalina for
custody of Brian 10.39
10/28/87 Serratel1i & Schiffman,
Professional Services Re:
custody of Brian 1,374.79
12/09/87 Sourth Carolina Parole
Board, supervision fee
for Mary Misenhelder 180.00
12/10/87 Mary Misenhelder,
support payment per Trust
Committee approval 300.00
12/22/87 Mary Misenhelder,
reimbursment for expenses 269.57
FORWARD $ 103,600.66
- 15 -
DISBURSEMENTS OF PRINCIPAL Icont'dl
FORWARD $ 103,600.66
GENERA!, DISBURSEMENTS Icont'd)
01/11/88 Mary Misenhelder,
balance of January
allowance 150.00
, 01/14/88 Santee Cooper f/b/o 96.48
Mary Misenhelder
01/19/88 Mary Misenhelder,
advance to defray
delinquent child support 150.00
payments
02/05/88 Mary Misenhelder,
loan to cover delinquent
child support payments
for December 1987 200.00
02/26/88 Mary Misenhelder,
wire transfer to Citizens
& Southern National Bank,
SC 150.00
02/26/88 Hamilton Bank, wire
transfer fee 7.50
06/10/88 Mary Misenhelder,
payment to Strand
Orthopedic Consultants 354.00
06/10/88 Mary Misenhelder,
expenses 200.00
07/25/88 Strand Orthapedic
Consultants, Professional
Services 47.00
07/25/88 Transfer to Income 42.00
FORWARD $ 104,997.64
- 16 -
- 17 -
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $ 111,028.71
GENERAL DISBURSEMENTS (cont'dl
01/24/90 Ford Motor credit
Company, payment for Mary
Misenhelder 157.77
03/16/90 Mary Misenhelder,
expenses 300.00
04/02/90 Mary Misenhelder,
wire transfer 500.00
05/02/90 Mary Misenhelder,
expenses 240.00
05/16/90 steven K. White, M.D.,
professional services for
Christopher Misenhelder 1,610.00
05/31/90 Fireman's Fund Mortgage
Corp, escrow shortage 26.17
08/23/90 Jean Dalina,
reimbursement for
expenses 1,000.00
09/12/90 Jean nalina,
reimbursement for
expenses 500.00
10/29/90 Ford Motor credit
Company, loan payment 275.54
11/05/90 Mary, Misenhelder,
expenses 567.89
11/12/90 stephen John Phillips,
reimbursement for vaious
medical expenses 1,717.99
FORWARD $ 117,924.07
- 18 -
,."
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; "'l'''''';~''''y;,..~m,.. ,.~~~.~
DISBURSEMENTS OF PRINC!PAL lcont'dl
FORWARD $ 117,924.07
GENERAL DISBURSEMENTS lcont'dl
12/04/90 Mary Misenhe1der,
funds for refrigerator 350.00
12/05/90 Gwendolyn M. Phillips,
reimbursement for medical
expenses 220.00
12/05/90 Jean Da1ina,
reimbursement for
expenses 445.00
02/07/91 Oldon Bros., balance due
on roof repairs for Jean
Dalina 220.50
02/27/91 Jean Dalina,
for mortgage payments and
repairs to roof 1,165.00
03/06/91 Mary Misenhelder,
expenses 187.00
04/19/91 Jean Dalina,
reimbursement for
expenses 118.00
,
04/19/91 Mary Misenhelder,
expenses 107.00
06/14/91 Mary Misenhelder,
expenses 180.00
06/14/91 Mary Misenhelder,
expenses 200.00
FORWARD $ 121,116.57
- 19 -
'....,,;.:......
DISBURSEMENTS OF PRINCIPAL Icont'dl
FORWARD $ 121,116.57
GENERAL DISBURSEMENTS lcont'dl
07/25/91 Mary Misenhe1der,
emergency funds for lost
wages 200.00
08/06/91 Mary Misenhe1der,
expenses 360.00
09/04/91 NACEP, application fee
for Mary Misenhelder 140.00
09/20/91 Mary Misenhelder,
expenses 212.50
10/02/91 Gwendolyn M. Phillips,
reimbursement for medical
expenses 283.46
10/07/91 Mary Misenhelder,
expenses 164.00
10/15/91 Mary Misenhelder,
emergency funds 250.00
10/15/91 Gwendolyn M. Phillips,
reimbursement for medical
expenses 843.72
10/22/91 Mary Misenhelder,
expenses 100.00
11/08/91 Mary Misenhelder,
emergency funds 250.00
12/16/91 Mary Misenhelder,
emergency funds 186.00
FORWARD $ 124,106.25
- 20 -
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $ 124,106.25
GENERAL DISBURSEMENTS (cont'dl
12/16/91 Gwendolyn M. Phillips,
reimbursement for medical
expenses 95.40
12/18/91 Mary Misenhe1der,
wire transfer 201. 90
12/20/91 Gwendolyn M. Phillips
reimbursement for med!ca1
expenses 387.03
01/03/92 Mary Misenhelder,
Distribution 200.00
01/15/92 Gwendolyn M. Phillips
reimbursement for med!ca1
expenses 843.72
01/21/92 Mary Misenhe1der,
emergency funds 100.00
01/27/92 Mar~ Misenhe1der,
dis ribution 200.00
02/20/92 Mary Misenhe1der,
expenses 66.14
03/02/92 Mary Misenhelder,
expenses 200.00
03/02/92 Mary Misenhe1der,
expenses 200.00
03/10/92 Gwendolyn M. Phillips!
reimbursement for med cal
expenses 243.17
FORWARD $ 126,843.61
- 21 -
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $ 126,843.61
GENERAL DISBURSEMENTS (cont'dl
03/17/92 Mary Misenhelder,
expenses 200.00
03/25/92 Jean Dalina,
reimbursement for
expenses 200.00
04/13/92 Mary Misenhelder,
expenses 973.18
04/15/92 Gwendolyn M. Phillips,
reimbursement for medical
expenses 843.72
04/27/92 Jean Dalina,
reimbursement for
expenses 138.50
04/27/92 Gwendolyn M. Phillips,
reimbursement for medical
expenses 125.00
04/27/92 Jean Dalina,
reimbursement for
expenses 200.00
, 05/05/92 Ford Motor credit,
payment for Mar~ in
Misenhelder, pa1d full 377.70
05/13/92 Mary Misenhelder,
expenses 180.27
OS/26/92 Jean Dalina,
distribution approved by
Trust Admin. 200.00
FORWARD $ 130,281. 98
- 22 -
r,
''',
--,
,.",'","
DISBURSEMENTS OF PRINCIPAL Ccont'dl
FORWARD $ 130,281. 98
GENERAL DISBURSEMENTS Ccont'dl
06/02/92 Mary Misenhelder,
distribution 320.04
06/03/92 Mary Misenhelder,
expenses 189.00
06/09/92 Gwendolyn Philips,
medical reimbursement 110.97
07/02/92 Mary Misenhelder,
expenses 205.85
07/06/92 Gwendolyn Philips,
medical reimbursement 55.97
07/15/92 Gwendolyn Philips,
reimbursement for medical
expenses 843.72
07/27/92 South Carolina st Educ
Asst Auth, payments of
Judgement SC Education 4,313.43
07/27/92 Gwendolyn M. Phillips,
reimbursement for medical
expenses 136.00
07/30/92 Jean Dalina,
reimbursement for
expenses 459.50
08/21/92 Jean Dalina,
reimbursement for
expenses 168.05
FORWARD $ 137,084.51
,. 23 -
r',
'"'
{~',
,~
~
DISBURSEMENTS OF PRINCIPAL lcont'dl
FORWARD $ 137,084.51
GENERAL DISBURSEMENTS lcont'dl
08/27/92 Jean Dalina,
supplemental living
allowance due to
unemployment 200.00
09/03/92 Jean Dalina,
reimbursement for
expenses 42.75
09/04/92 Jean Dalina,
terminix service 127.20
09/15/92 State Farm Mutual,
premium 76.31
09/15/92 Santee Cooper, bill for
Mary Misenhelder 72.22
09/15/92 Mary Misenhelder,
expenses 43.28
09/16/92 Gwendolyn M. Phillips,
reimbursement for medical
expenses 178.50
09/18/92 Mary Misenhelder,
e?Cpens,es 50.00
09/28/92 Jean Dalina,
reimbursement for
expenses 200.00
10/09/92 Mary Misenhelder,
expenses 50.00
FORWARD $ 138,124.77
- 24 -
r"
,^'
'"
.....
r-
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $ 138,124.77
GENERAL DISBURSEMENTS (cont'dl
10/15/92 Gwendolyn M. Phillips
reimbursement for medical
expenses 843.72
10/16/92 Gwendolyn M. Phillips,
reimbursement for medical
expenses 30.47
10/23/92 Jean Dalina,
reimbursement for
expenses 43.60
11/06/92 Erie Insurance Group,
premium 220.00
11/20/92 Jean Dalina,
reimbursement for
expenses 200.00
12/01/92 state Farm Insurance
Company, premium 158. ,86
12/02/92 Gwendolyn M. Phillips,
reimbursement for medical
expenses 154.97
12/16/92 Santee Cooper, electric
bill 78.69
12/16/92 Mary Misenhelder,
expenses 27.84
12/16/92 Mary Misenhelder,
expenses 100.00
FORWARD $ 139,982.9::
- 25 -
r'
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"
i~
n
.~
,..'\
,...
DISBURSEMENTS OF PRINCIPAL lcont'dl
FORWARD $ 139,982.92
,GENERAL DISBURSEMENTS lcont'dl
12/21/92 Jean Da1ina,
reimbursement for
expenses 200.00
01/07/93 Mary Misenhelder,
expenses 50.00
01/07/93 Checkcare systems,
payment for returned
check to Chapin company 101. 00
01/15/93 Gwendolyn M. Phillips,
reimbursement for medical
expenses 843.72
01/20/93 Gwendolyn M. Phillips,
reimbursement for medical
expenses 282.53
01/21/93 Mary Misenheldar,
expenses 150.00
01/21/93 GTE south, telephone bill 24.76
01/21/93 city of MIrtle Beach,
utility b 11': 7.28
02/02/93 Mary Misenhelder,
expenses 200.00
02/03/93 Santee cooper, electric
bill 3.82
02/03/93 GTE South, phone bill 56.16
FORWARD $ 141,902.19
- 26 -
,...
r1
.,
..\
."
i."',
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $ 141,902.19
GENERAL DISBURSEMENTS (cont'dl
02/23/93 Gwendolyn M. Phillips,
reimbursement for medical
expenses 73.00
03/03/93 Santee Cooper, electric
bill 40.18
03/04/93 city of Myrtle Beach,
utility payment 18.39
03/04/93 GTE south, phone bill 26.57
03/09/93 Mary Misenhelder,
expenses 200.00
03/09/93 Jean Dalina,
reimbursement for
expenses 200.00
03/10/93 Gwendolyn M. Phillips,
reimbursement for medical
expenses 268.00
03/16/93 Jean Dalina,
reimbursement for
expenses 32.50
03/17/93 Gwendolyn M. Phillips,
reimbursement for medical
expenses 56.13
03/29/93 citi of MIrtle Beach,
uti ity b 11 35.95
03/29/93 Santee Cooper, electric
bill 45.62
FORWARD $ 142,898.53
- 27 -
,-,
,-,
~
,-,
,-
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $ 142,898.53
GENERAL DISBURSEMENTS (cont'dl
03/31/93 NBSC,telephone bill 31. 67
04/09/93 Jean Dalina,
reimbursement for
expenses 32.50
04/09/93 Mary Misenhelder,
expenses 200.00
04/15/93 Gwendolyn M. Phillips,
reimbursement for medical
expenses 843.72
04/21/93 Gwendolyn M. Phillips,
reimbursement for medical
expenses 97.00
04/26/93 Transfer to Income 41. 54
04/30/93 Gwendolyn M. Phillips,
reimbursement for medical
expenses 53.75
04/30/93 Johnny C. Allen, County
Treasury, vehicle tax
notice 35.17
04/30/93 GTE South, telephone bill 18.19
04/30/93 Santee Cooper, electric
bill 36.82
05/05/93 Mary Misenhelder,
expenses 200.00
05/05/93 stephen Phillips, medical
reimbursement 975.00
FORWARD $ 145,463.89
- 28 -
,-
r
DISBURSEMENTS OF PRINCIPAL Icont'dl
FORWARD $ 146,817.41
GENERAL DISBURSEMENTS Icont'dl
06/16/93 ,Tean Dalina,
reimbursement for
expenses 24.00
06/24/93 State Farm Insurance,
premium on auto insurance 158.86
06/24/93 Santee cooper, eJe:::tric
bill 56.31
06/24/93 Myrtle Beach, utility
payment 17.93
06/29/93 Mary Misenhelder,
food allowance 184.50
07/01/93 transfer to income 19.00
07/15/93 Gwendolyn Philips,
reimbursement for medical
premium 186.03
07/20/93 Gwendolyn Philips, 1/2
medical reimbursement 124.64
07/20/93 Mar~ Misenhelder, 1/2
medlcal reimbursement 53.02
07/20/93 GTE south, telephone bill 39.53
07/20/93 State Farm Mutual
Insurance company,
auto insurance premium 43.70
07/20/93 city of M1rtle Beach,
utility b 11 16.75
FORWARD $ 147,741.68
- 30 -
,.....,
,....,
~,
,~
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $ 350.99 $ 148,960.41
FEDERAL STATE & LOCAL TAXES (cont'dl
01/10/85 Pennsylvania Department
of Revenue, Fiduciary
Income Tax for y/e
9/30/84 140.06
01/08/87 Internal Revenue Service,
Fiduciary Income Tax for
y/e 9/30/86 569.23
01/09/87 Pennsylvania Department
of Revenue, Fiduciary
Income Tax for y/e
9/30/86 205.27
01/12/88 Fiduciary Taxes fo 1/15 1,310.00
01/13/88 Pennsylvania Department
of Revenue, taxes due for
9/30/87 408.88
01/13/88 Internal Revenue Service,
Fiduciary Income Tax for
9/30/87 1,309.72
04/08/88 Internal Revenue Service,
Estimated Federal
Fiduciary Taxes 4/15 1,794.00
04/08/88 Internal Revenue Service,
Fiduciary Income Tax for
1987 484.00
04/08/88 Pennsylvania Department
of Revenue, Fiduciary
Income ,Tax for 1987 148.00
FORWARD $ 6,720.15 $ 148,960.41
- 32 -
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $ 6,720.15 $ 148,960.41
FEDERAL STATE & LOCAL TAXES (cont'dl
04/09/90 Pennsylvania Department
of Revenue, Fiduciary 39.00
Income Tax for y/e 12/89
03/08/91 pennsylvania Department
of Revenue, Fiduciary 37.00
Income Tax for y/e 12/90
03/10/92 Pennsylvania Department
of Revenue, Fiduciary
Income Tax for y/e 12/91 18.00
03/24/93 Pennsylvania Department
of Revenue, Fiduciary
State Income Tax due
4/15/93 92.00
03/26/93 Internal Revenue Service,
Fiduciary Tax due 1992 381. 00
04/15/93 Internal Revenue service,
FiduoiaryEstimated 7,671.15
Income Tax 384.00
LEGAL FEES
Keefer, Wood, Allen,
Rahal, Attorney's Fee
6,000.00
FORWARD
$
162,631. 56
- 33 -
,~".,".. /, ,".' :"., " ,...
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $
162,631. 56
FEES AND COMMISSIONS
CoreStates Bank. N.A.
Account Preparation Fee
$
1,597.00
CoreStates Bank. N.A.
06/08/81 Trustee's Fee $ 86.27
08/11/81 Trustee's Fee 25.39
11/09/81 Trustee's Fee 25.39
02/10/82 Trustee's Fee 25.38
05/06/82 Trustee's Fee 25.39
08/12/82 Trustee's Fee 96.80
12/07/82 Trustee's Fee 78.99
03/08/83 Trustee's Fee 80.71
06/06/83 Trustee's Fee 99.13
09/07/83 Trustee's Fee 97.44
12/05/83 Trustee's Fee 96.79
03/05/84 Trustee's Fee 96.22
06/04/84 Trustee's Fee 92.06
09/06/84 Trustee's Fee 89.60
12/03/84 Trustee's Fee 94.62
FORWARD $ 1,110.18 $ 1,597.00 $ 162,631.56
- 34 -
,
.,
,""\
"...,
r
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $ 3,034.25 $ 1,597.00 $ 162,631.56
FEES AND COMMISSIONS (cont'dl
CoreStates Bank. N.A. (cont'dl
07/05/88 Trustee's Fee 57.27
08/01/88 Trustee's Fee 58.23
09/02/88 Trustee's Fee 56.62
10/03/88 Trustee's Fee 56.73
11/04/88 Trustee's Fee 57.48
12/02/88 Trustee's Fee 57.96
01/03/89 Trustee's Fee 56.80
02/03/89 Trustee's Fee 56.72
03/03/89 Trustee's Fee 57.23
04/03/89 Trustee's Fee 56.45
05/01/89 Trustee's Fee 56.98
06/02/89 Trustee's Fee 58.81
07/03/89 Trustee's Fee 60.05
08/04/89 Trustee's Fee 60.77
09/05/89 Trustee's Fee 62.23
10/02/89 Trustee's Fee 61. 42
11/03/89 Trustee's Fee 61.01
12/04/89 Trustee's Fee 61. 33
FORWARD $ 4,088.34 $ 1,597.00 $ 162,631. 56
- 36 -
,....,." "'/"0 J<~".'.'. .
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $ 4,088.34 $ 1,597.00 $ 162,631. 56
FEES AND COMMISSIONS (cont'dl
CoreStates Bank. N.A. (cont'dl
01/02/90 Trustee's Fee 61. 27
02/02/90 Trustee's Fee 60.87
03/02/90 Trustee's Fee 59.46
04/02/90 Trustee's Fee 59.07
05/02/90 Trustee's Fee 58.82
06/01/90 Trustee's Fee 56.72
07/02/90 Trustee's Fee 58.22
08/02/90 Trustee's Fee 58.59
09/04/90 Trustee's Fee 58.24
10/01/90 Trustee's Fee 56.20
11/02/90 Trustee's Fee 55.84
12/03/90 Trustee's Fee 55.68
01/02/91 Trustee's Fee 55.13
02/04/91 Trustee's Fee 55.60
03/04/91 Trustee's Fee 56.13
04/01/91 Trustee's Fee 55.91
05/03/91 Trustee's Fee 55.98
06/03/91 Trustee's Fee 56.08
FORWARD $ 5,122.15 $ 1,597.00 $ 162,631. 56
- 37 -
..~,
DISBURSEMENTS OF PRINCIPAL (cont'dl
FORWARD $ 5,122.15 $ 1,597.00 $ 162,631. 56
FEES AND COMMISSIONS (cont'dl
CoreStates Bank. N.A. (cont'dl
07/02/91 Trustee's Fee 56.01
08/05/91 Trustee's Fee 55.11
09/03/91 Trustee's Fee 55.61
10/02/91 Trustee's Fee 56.23
11/04/91 Trustee's Fee 55.64
12/02/91 Trustee's Fee 55.82
01/08/92 Trustee's Fee 150.00
02/03/92 Trustee's Fee 125.00
03/02/92 Trustee's Fee 125.00
04/01/92 Trustee's Fee 125.00
05/01/92 Trustee's Fee 125.00
06/01/92 Trustee'S Fee 125.00
07/01/92 Trustee's Fee 125.00
08/04/92 Trustee's Fee 125.00
09/02/92 Trustee's Fee 125.00
10/02/92 Trustee's Fee 125.00
11/03/92 Trustee's Fee 125.00
12/02/92 Trustee's Fee 125.00
FORWARD $ 6,981.57 $ 1,597.00 $ 162,631.56
- 38 -
~
",
-~---_._-'-
....'" ,-.
r"
DISBURSEMENTS OF PRINCIPAL lcont'dl
FORWARD $ 6,981.57 $ 1,597.00 $ 162,631. 56
FEES AND COMMISSIONS lcont'dl
CoreStates Bank. N.A. lcont'dl
01/05/93 Trustee's Fee 125.00
02/02/93 Trustee's Fee 166.67
03/02/93 Trustee's Fee 166.67
03/19/93 Trustee's Fee 265.00
04/02/93 Trustee's Fee 166.67
05/04/93 Trustee's Fee 166.67
06/02/93 Trustee's Fee 166.67
07/02/93 Trustee's Fee 166.67
08/03/93 Trustee's Fee 166.67 8.538.26 10,135.26
TOTAL DISBURSEMENTS OF PRINCIPAL $ 172,'766.82
----------.----
--.------------
- 39 -
j CHANGES IN PRINCIPAL HOLDINGS Account
I
I Value
,
i Trust Eauitv Fund
I Common
I 01/09/81 461 uts. Invested $ 7,592.67
I
I 06/04/81 39 uts. Sold -642.33
I 422 uts. $ 6,950.34
I
!
I 07/10/81 2 uts. Invested 31.00
424 uts. $ 6,981.34
I
i 07/09/82 2.231 uts. Invested $ 31. 412.48
I 2,655 uts. 38,393.82
07/09/82 Tax Lot Data Changes -40.84
2,655 uts. $ 38,352.98
08/07/85 23 uts. Sold -332.25
2,632 uts. $ 38,020.73
12/09/85 27 uts. Sold -390.03
2,605 uts. $ 37,630.70
06/09/86 36 uts. Sold -520.04
2,569 uts. $ 37,110.66
I 07/09/86 358 uts. Sold -5.171.51
i 2,211 Uts. $ 31,939.15
I
I 10/07/86 38 uts. Sold -548.93
I 2,173 uts. $ 31,390.22
,
I
, I 12/09/86 36 Uts. Sold -520.04
I 2,137 Uts. $ 30,870.18
I
I 02/10/87 16 uts. Sold -231.13
I
I 2,121 uts. $ 30,639.05
i
,
I 03/10/87 960 uts. Sold -13.867.75
I
1,161 uts. $ 16,771.30
I
I I 01/08/88 500 uts. Sold -7.222.78
I 661 Uts. $ 9,548.52
I
I 02/09/88 182 uts. Invested 5.054.14
I 843 ute. $ 14,602.66
- 43 -
",""
r'
~'
CHANGES IN PRINCIPAL HOLDINGS Icont'dl
Account
Value
07/08/92
Corestates Growth &
Income Eauitv Trust Icont'dl
19 uts. Sold
70 Uts.
12 Uts. Sold
58 uts.
$
$
-1.370.69
5,049.89
-865.70
4,184.19
04/07/93
$
=================
===============
06/08/91
CoreStates Eauitv Trust
1.381 uts. Rec'd in exchange of Common Trust
Equity Fund $
1. 381 uts. Sold
Outs. $
23.93
-23.93
0.00
06/24/91
=================
================
Common Trust Income Fund
01/09/81 3,849 uts. Invested $ 25,865.28
02/10/81 151 uts. Sold -1.014.72
3,698 uts. $ 24,850.56
03/10/8l, 198 uts. Sold -1.330.56
3,500 Uts. $ 23,520.00
04/10/81 2 uts. Sold -13.44
3,498 uts; $ 23,506.56
07/09/82 2.336 uts. Invested 15.160.64
5,834 uts. $ 38,667.20
07/09/82 Tax Lot Data Changes -1.659.46
5,834 uts. $ 37,007.74
08/07/85 12 uts. Sold -76.12
5,822 Uts. $ 36,931.62
02/10/86 50 uts. Sold -317.17
5,772 Uts. $ 36,614.45
- 45 -
'-'
~,
,",
",
.~......_---,..."
"",
RECEIPTS OF INCOME
Common Trust Eauitv Fund
02/10/81 Income 461 Units $ 70.01
03/10/81 Income 461 units 40.20
04/13/81 Income 461 units 49.70
05/08/81 Income 461 units 54.83
06/04/81 Income 461 Units 58.10
07/10/81 Income 422 units 57.14
08/08/81 Income 424 units 61. 53
09/09/81 Income 424 Units 52.15
10/09/81 Income 424 Units 40.68
11/10/81 Income 424 Units 40.12
12/09/81 Income 424 units 44.64
01/08/82 Income 424 units 32.90
02/09/82 Income 424 units 31.76
03/09/82 Income 424 units 42.99
04/08/82 Income 424 units 39.15
05/07/82 Income 424 units 31.31
06/08/82 Income 424 units 40.78
07/08/82 Income 424 units 35.90
08/09/82 Income 2,655 Units 201.89
09/10/82 Income 2,655 units 206.09
10/08/82 Income 2,655 units 184.66
FORWARD $ 1,416.53
- 48 -
I"~
,-
RECEIPTS OF INCOME (cant/d)
FORWARD $ 1,416.53
Common Trust Equitv Fund
(cont'd)
11/08/82 Income 2,655 units 150.02
12/07/82 Income 2,655 units 180.89
01/07/83 Income 2,655 Units 172.63
02/09/83 Income 2,655 units 122.39
03/10/83 Income 2,655 units 166.81
04/07/83 Income 2,655 units 200.01
05/05/83 Income 2,655 Units 156.70
06/03/83 Income 2,655 units 196.15
07/06/83 Income 2,655 units 192.32
08/02/83 Income 2,655 units 157.50
09/06/83 Income 2,655 units 233.68
10/05/83 Income 2,655 Units 203.53
11/04/83 Income 2,655 Units 198.05
12/02/83 Income 2,655 Units 236.29
01/06/84 Income 2,655 units 186.32
02/07/84 Income 2,655 Units 101. 06
03/05/84 Income 2,655 Units 231. 60
04/04/84 Income 2,655 Units 288.70
05/07/84 Income 2,655 Units 192.84
FORWARD $ 4,984.02
- 49 -
('".
".
"
RECEIPTS OF INCOME Icont'dl
FORWARD $ 4,984.02
Common Trust Equitv Fund
Icont'dl
06/05/84 Income 2,655 Units 273.88
07/02/84 Income 2,655 Units 301.91
08/06/84 Income 2,655 Units 213.33
09/06/84 Income 2,655 units 287.79
10/05/84 Income 2,655 units 243.63
11/05/84 Income 2,655 Units 202.34
12/04/84 Income 2,655 units 342.23
01/04/85 Income 2,655 units 239.86
02/05/85 Income 2,655 units 179.26
03/05/85 Income 2,655 units 304.28
04/04/85 Income 2,655 units 229.53
05/06/85 Income 2,655 Units 249.06
06/05/85 Income 2,655 units ~84.40
07/05/85 Income 2,655 Units 213.95
08/03/85 Income 2,655 Units 183.45
09/05/85 Income 2,632 Units 286.53
10/07/85 Income 2,632 Units 210.75
11/06/85 Income 2,632 units 224.45
12/05/85 Income 2,632 units 279.73
FORWARD $ 9,734.38
- 50 -
r'
RECEIPTS OF INCOME Icont!.9l
FORWARD $ 9,734.38
Common Trust Eauitv Fund
Icont'dl
01/08/86 Income 2,605 units 198.64
02/07/86 Income 2,605 units 148.40
03/05/86 Income 2,605 units 258.13
04/07/86 Income 2,605 units 168.40
05/06/86 Income 2,605 units 141. 05
06/06/86 Income 2,605 units 252.41
07/03/86 Income 2,569 units 232.11
08/05/86 Income 2,211 units 131.31
09/05/86 Income 2,211 units 216.25
10/03/86 Income 2,211 units 164.51
11/06/86 Income 2,173 units 189.76
12/04/86 Income 2,173 units 181.91
01/28/87 Income 2,137 Units 206.20
02/06/87 Income 2,137 units 62.80
03/04/87 Income 2,121 Units 233.42
04/07/87 Income 1,161 units 103.41
05/05/87 Income 1,161 Units 45.30
06/05/87 Income 1,161 Units 117.47
07/03/87 Income 1,161 units 121. 61
FORWARD $ 12,907.47
- 51 -
RECEIPTS OF INCOME (cont'dl
FORWARD $ 12,907.47
Common Trust Eauitv Fund
(cont'dl
08/06/87 Income 1,161 units 57.34
09/04/87 Income 1,161 units 150.28
10/06/87 Income 1,161 units 101. 17
11/06/87 Income 1,161 Units 54.01
12/04/87 Income 1,161 Units 134.39
01/06/88 Income 1,161 Units 102.21
02/04/88 Income 661 Units 37.17
03/04/88 Income 843 Units 116.29
04/06/86 Income 843 Units 81. 52
05/06/88 Income 843 Units 41. 43
06/03/88 Income 843 Units 124.79
07/05/88 Income 824 Units 63.53
08/03/88 Income 806 Units 46.76
09/02/88 Income 752 Units 106.64
10/05/88 Income 752 Units 69.47
11/03/88 Income 733 Units 62.12
12/02/88 Income 714 Units 88.58
01/05/89 Income 714 Units 80.11
02/03/89 Income 714 Units 66.49
FORWARD $ 14,491. 77
- 52 -
r',
,-
-,
"
FECEIPTS OF INCOME (cont'd)
FORWARD $ 14,491.77
Common Trust Eauitv Fund
(cont'd)
03/03/89 Income 714 units 92.57
04/06/89 Income 714 Units 81.26
05/05/89 Income 714 units 54.60
06/02/89 Income 714 units 90.06
07/03/89 Income 714 units 86.08
08/09/89 Income 714 Units 97.77
09/05/89 Income 714 units 85.37
10/05/89 Income 714 Units 76.39
11/07/89 Income 714 units 65.34
12/05/89 Income 714 units 76.80
01/04/90 Income 714 units 90.77
02/05/90 Income 669 units 88.88
03/05/90 Income 669 units 76.19
04/04/90 Income 669 Units 68.54
05/04/90 Income 669 units 45.64
06/05/90 Income 606 units 75.17
07/05/90 Income 606 units 78.62
08/06/90 Income 606 Units 50.43
09/07/90 Income 606 units 68.45
FORWARD $ 15,940.70
- 53 -
'-,
RECEIPTS OF INCOME (cont'dl
FORWARD $ 15,940.70
Common Trust Eauitv Fund
(cont'dl
10/03/90 Income 447 units 36.10
11/06/90 Income 447 Units 42.68
12/05/90 Income 447 units 72.14
01/04/91 Income 447 units 46.56
, 02/07/91 Income 447 units 51. 18
03/05/91 Income 447 Units 47.61
04/03/91 Income 447 Units 27.90
05/03/91 Income 447 units 34.04
06/06/91 Income 447 units 49.68 $ 16,348.59
Common Trust Income Fund
02/10/81 Income 3,849 units $ 239.12
03/10/81 Income 3,698 units 226.60
04/13/81 Income 3,500 units 208.10
05/08/81 Income 3,498 units 210.72
06/04/81 Income 3,498 units 211. 96
07/10/81 Income 3,498 units 212.17
08/08/81 Income 3,498 units 212.89
09/09/81 Income 3,498 units 211. 61
10/09/81 Income 3,498 units 217.31
FORWARD $ 1,950.48 $ 16,348.59
- 54 -
RECEIPTS OF INCOME Icont'dl
FORWARD $ 7,767.13 $ 16,348.59
Common Trust Income Fund
Icont'dl
06/06/83 Income 5,834 Units 417.50
07/0B/83 Income 5,834 units 390.02
08/08/83 Income 5,834 Units 385.33
09/06/83 Income 5,834 unite 404.23
10/05/83 Income 5,834 Units 411. 54
11/04/83 Income 5,834 Units 402.77
12/07/83 Income 5,834 units 400.89
01/05/84 Income 5,834 units 397.95
02/07/84 Income 5,834 units 415.51
03/05/84 Income 5,834 units 403.22
04/06/84 Income 5,834 Units 424.37
05/07/84 Income 5,834 Units 356.21
06/06/84 Income 5,834 Units 393.37
07/0~/84 Income 5,834 units 398.51
08/06/84 Income 5,834 Units 409.30
09/06/84 Income 5,834 units 436.25
10/05/84 Income 5,834 units 440.94
11/05/84 Income 5,834 units 442.82
12/04/84 Income 5,834 units 438.38
FORWARD $ 15,536.24 $ 16,348.59
- 56 -
RECEIPTS OF INCOME (cont'dl
FORWARD $ 15,536.24 $ 16,348.59
Common Trust Income Fund
(cont'dl
01/07/85 Income 5,834 units 435.15
02/05/85 Income 5,834 units 438.42
03/05/85 Income 5,834 units 418.05
04/08/85 Income 5,834 units 417.94
05/07/85 Income 5,834 Units 415.45
06/05/85 Income 5,834 units 412.11
07/05/85 Income 5,834 Units 405.45
08/03/85 Income 5,834 Units 396.64
09/05/85 Income 5,822 units 400.21
10/07/85 Income 5,822 units 395.45
11/06/85 Income 5,822 units 386.20
12/05/85 Income 5,822 units 389.36
01/08/86 Income 5,822 units 398.72
02/10/86 Income 5,772 units 372.52
03/06/86 Income 5,772 units 380.81
04/04/86 Income 5,772 units 377.52
05/06/86 Income 5,772 Units 356.68
06/05/86 Income 5,772 units 349.81
07/07/86 Income 5,772 units 354.27
FORWARD $ 23,037.00 $ 16,348.59
- 57 -
~
ro,.'.!.,,~,,:,,',
\
"\
-,
RECEIPTS OF INCOME (cont'dl
FORWARD $ 23,037.00 $ 16,348.59
Common Trust Income Fund
(cont'dl
08/06/86 Income 6,724 units 418.63
09/05/86 Income 6,724 units 404.33
10/03/86 Income 6,724 units 401.38
11/06/86 Income 6,724 Units 397.77
12/04/86 Income 6,724 units 395.76
" 01/09/87 Income 6,724 units 392.11
02/06/87 Income 6,724 units 386.86
03/06/87 Income 6,724 units 389.63
04/07/87 Income 9,915 units 564.62
05/05/87 Income 9,915 units 576.14
06/05/87 Income 9,915 units 576.22
07/03/87 Income 9,915 units 566.55
08/05/87 Income 9,915 units 559.21
09/08/87 Income 9,915 Units 570.50
10/05/87 Income 9,915 Units 570.00
11/04/87 Income 9,915 Units 568.20
12/04/87 Income 9,915 Units 561. 70
01/06/88 Income 9,915 Units 568.10
02/03/88 Income 7,915 Units 452.82
FORWARD $ 32,357.53 $ 16,348.59
- 58 -
-,
r',
"
~,
,~'...
r
i->' '~,l'lll~,":';''''
",,<
RECEIPTS OF INCOME (cont'dl
FORWARD $ 32,357.53 $ 16,348.59
Common Trust Income Fund
(cont'dl
03/04/88 Income 10,159 units 581. 09
04/05/88 Income 10,159 units 583.90
05/05/88 Income 10,159 Units 586.58
06/03/88 Income 10,159 Units 590.47
07/05/88 Income 10,159 units 589.77
08/04/88 Income 10,159 units 593.58
09/02/88 Income 9,965 units 583.64
10/05/88 Income 9,965 Units 579.10
11/04/88 Income 9,965 units 593.39
12/02/88 Income 9,901 units 582.30
01/05/89 Income 9,901 units 591. 51
02/03/89 Income 9,901 units 591.63
03/03/89 Income 9,901 units 562.41
04/06/89 Income 9,901 units 586.59
05/05/89 Income 9,901 Units 584.82
06/06/89 Income 9,901 units 592.13
07/07/89 Income 9,901 units 582.08
08/07/89 Income 9,901 units 586.51
09/05/89 Income 9,901 units 582.02
FORWARD $ 43,481. 05 $ 16,348.59
- 59 -
~,
".-
, ',\"-l.\',;,J:;.~JX..:rtl~":'"1:--~
'"
("i
RECEIPTS OF INCOME (cont'dl
FORWARD $ 16.46 $ 68,390.65
. Core fund Fiduciarv
Reserve
(cont'dl
01/31/92 Interest 0.75
02/29/92 Interest 3.48
02/29/92 Interest 1.01
03/31/92 Interest 3.99
03/31/92 Interest 0.81
04/30/92 Interest 5.30
04/30/92 Interest 0.95
05/31/92 Interest 0.25
05/31/92 Interest 0.64
06/30/92 Interest 5.44
06/30/92 Interest 0.81
07/31/92 Interest 15.01
07/31/92 Interest 0.52
08/31/92 Interest 6.33
08/31/92 Interest 0.74
09/30/92 Interest 4.44
09/30/92 Interest 0.63
10/31/92 Interest 1.98
10/31/92 Interest 0.58
FORWARD $ 70.12 $ 68,390.65
- 61 -
,..... .:.,..,.,~ k
r
RECEIPTS OF INCOME (cont'dl
FORWARD $ 70.12 $ 68,390.65
core fund Fiduciarv
Reserve
(cont'dl
11/30/92 Interest 0.22
11/30/92 Interest 0.59
12/31/92 Interest 5.21
12/31/92 Interest 0.61
01/31/93 Interest 2.92
01/31/93 Interest 0.52
02/28/93 Interest 3.87
02/28/93 Interest 0.53
03/31/93 Interest 6.38
03/31/93 Interest 0.50
04/30/93 Interest 6.59
04/30/93 Interest 0.41
05/31/93 Interest 2.37
05/31/93 Interest 0.46
06/30/93 Interest 2.92
06/30/93 Interest 0.49
07/31/93 Interest 5.36
07/31/93 Interest 0.40 110.47
FORWARD $ 68,501.12
- 62 -
RECEIPTS OF INCOME (cont'dl
FORWARD $ 68,501. 12
CoreStates Bond Trust
01/04/91 Income 9 , 77 6 units $ 555.63
02/07/91 Income 9,651 units 546.30
03/05/91 Income 9,651 units 540.71
04/03/91 Income 9,651 units 541.43
05/03/91 Income 9,651 units 534.88
06/06/91 Income 9,651 units 543.71
07/05/91 Income 9,651 units 545.11
08/08/91 Income 9,651 units 564.00
09/10/91 Income 9,403 units 527.59
10/07/91 Income 9,403 Units 518.42
11/08/91 Income 9,403 Units 534.31
12/06/91 Income 9,403 units 526.33
01/07/92 Income 9,043 Units 510.57
01/31/92 Income 8,926 units 500.77 .
03/06/92 Income 8,926 units 472.48
04/06/92 Income 8,926 units 482 . 14
05/06/92 Income 8,926 Units 477.38
06/04/92 Income 8,926 units 487.92
07/06/92 Income 8,567 Units 465.87
08/06/92 Income 8,329 units 454.37
FORWARD $ 10,329.92 $ 68,501.12
- 63 -
r.
r
...
RECEIPTS OF INCOME (cont'dl
FORWARD $ 10,329.92 $ 68,501.12
Corestates Bond Trust
--'.9Q.nt' d 1
09/04/92 Income 8,095 units 431.81
10/06/92 Income 8,095 Units 423.03
11/05/92 Income 8,095 units 424.01
12/04/92 Income 8,095 Units 414.64
01/07/93 Income 7,738 Units 397.04
02/04/93 Income 7,738 units 397.17
03/04/93 Income 7,506 Units 376.40
04/06/93 Income 7,276 units 387.92
05/06/93 Income 7,276 units 379.07
06/04/93 Income 7,276 units 379.18
07/07/93 Income 7,044 Units 356.55
08/05/93 Income 7,044 units 345.62 15,042.36
CoreStates Growth &
Income Eauity Trust
07/10/91 Income 107 Units $ 43.42
08/08/91 Income 107 units 28.77
09/06/91 Income 107 units 61.B7
10/04/91 Income 107 units 37.13
11/07/91 Income 107 Units 37.55
FORWARD $ 208.74 $ 83,543.48
- 64 -
'....:1
r,
1'"
....
i'"'"
RECEIPTS OF INCOME (cont'dl
FORWARD $ 208.74 $ 83,543.48
Corestates Growth &
Income Eauitv Trust
(cont'dl
12/06/91 Income 107 Units 50.85
01/07/92 Income 107 Units 41. 00
02/06n2 Income 107 units 37.59
03/05/92 Income 107 units 44.14
04/06/92 Income 101 units 47.56
05/06/92 Income 89 units 18.50
06/04/92 Income 89 units 38.46
07/06/92 Income 89 units 39.01
08/06/92 Income 70 units 15.33
09/04/92 Income 70 units 37.09
10/06/92 Income 70 units 23.36
11/05/92 Income 70 units 15.42
12/04/92 Income 70 units 26.23
01/07/93 Income 70 units 32.82
02/04/93 Income 70 units 12.80
03/04/93 Income 70 units 33.23
04/06/93 Income 70 units 24.71
,
05/06/93 Income 58 units 12.92
06/04/93 Income 58 units 32.08
FORWARD $ 791. 84 $ 83,543.48
- 65 -
,
...,
""
RECEIPTS OF INCOME (cont'dl
FORWARD
CoreStates Growth &
Income Eauity Trust
(cont'dl
07/07/93 Income 58 Units
08/05/93 Income 58 Units
Gwendolyn M. Phillips
Trust No.041340100
07/21/83 transfer
09/19/83 transfer to cover tax payments
01/23/89 transfer
Harsco corporation.
Common
11/18/81 Dividend 156 Shs.
02/22/82 Dividend 156 Shs.
05/18/82 Dividend 156 Shs.
Manufactures Hanover
Mortqaqe Corp
OS/29/84 escrow surplus refund
New Enaland Life
Insurance Company
04/28/80 Interest
FORWARD
- 66 -
$
$
$
791. 84 $
15.22
13.64
92.48
274.17
3.00
42.90
46.80
46.80
/.... .~,..~.",..;,,'~.
83,543.48
820.70
369.65
136.50
19.87
279.73
$
85,169.93
~.
r
'",
...,
RECEIPTS OF INCOME (cont'dl
FORWARD $ 85,169.93
Northwestern Mutual Lif~
Insurance Company. policies
04/21/80 Interest 94.43
Received in Account
09/25/85 reimbursement from Gwendolyn Phillips
for expenses to repair roof $ 2,100.00
04/03/89 Fiduciary Income Tax Refund & Interest
for year ending 12/87 38.35 2,138.35
Short Term Investment
IYrul
05/08/BO Interest $ 176.93
05/08/80 Interest 80.84
06/06/80 Interest 986.12
06/06/80 Interest 169.19
07/08/80 Interest 818.60
07/08/80 Interest 129.08
08/07/80 Interest 818.81
09/09/80 Interest 801.48
10/07/80 Interest 735.32
10/07/80 Interest 91.19
11/07/80 Interest 785.57
11/07/80 Interest 214.75
FORWARD $ 5,807.88 $ 87,402.71
- 67 -
''"\
~.
l""'""'IIII~....~~,$JJtd':(:
RECEIPTS OF INCOME (cont'dl
FORWARD $ 5,807.88 $ 87,402.71
Short Term Investment
l!ml!
(cont'dl
12/08/80 Interest 938.25
12/08/80 Interest 205.48
01/07/81 Interest 177.51
01/07/81 Interest 922.39
09/04/81 Interest 642.79
10/05/81 Interest 672.36
11/09/81 Interest 650.72
12/09/81 Interest 566.73
01/09/82 Interest 520.13
02/10/82 Interest 503.58
03/10/82 Interest 503.21
04/08/82 Interest 586.92
05/07/82 Interest 583.62
05/07/82 Interest 10.77
06/03/82 Interest 543.99
06/03/82 Interest 16.73
07/08/82 Interest 579.97
07/08/82 Iriterest 13.27
08/10/82 Interest 264.13
FORWARD $ 14,710.43 $ 87,402.71
- 68 -
RECEIPTS OF INCOME (cont'dl
FORWARD $ 14,710.43 $ 87,402.71
Short Term Investment
Fund
(cont'dl
08/10/82 Interest 11.97
09/07/82 Interest 54.36
09/07/82 Interest 15.00
10/07/82 Interest 48.76
10/07/82 Interest 8.71
11/08/82 Interest 47.42
11/08/82 Interest 5.74
12/06/82 Interest 42.29
12/06/B2 Interest 6.64
01/10/83 Interest 40.54
01/10/83 Interest 5.11
02/10/83 Interest 38.18
02/10/83 Interest 3.81
03/07/83 Interest 35.27
03/07/B3 Interest 3.34
04/08/83 Interest 38.96
04/08/83 Interest 3.72
05/09/83 Interest 38.14
05/09/83 Interest 3.30
FORWARD $ 15,161. 69 $ 87,402.71
- 69 -
,.
"'
RECEIPTS OF INCOME (cont'dl
FORWARD $ 15,161.69 $ 87,402.71
Short Term Investment
IYrul
(cont'dl
06/08/83 Interest 38.50
07/08/83 Interest 38.21
08/05/83 Interest 45.55
09/02/83 Interest 46.99
10/03/83 Interest 45.15
11/03/83 Interest 40.75
12/07/83 Interest 39.04
01/06/84 Interest 39.20
.02/09/84 Interest 38.32
03/06/84 Interest 37.67
04/04/84 Interest 35.56
05/03/84 Interest 8.90
06/06/84 Interest 9.42
07/05/84 Interest 8.91
07/05/84 Interest 2.74
08/06/84 Interest 9.39
08/06/84 Interest 13.90
09/07/84 Interest 9.57
09/07/84 Interest 14.16
FORWARD $ 15,683.62 $ 87,402.71
- 70 -
,"'-
, . '",....,"',.....'~KI$~~r :
-,
RECEIPTS OF INCOME (cont'dl
FORWARD $ 15,683.62 $ 87,402.71
Short Term Investment
EYru!
(cont'dl
10/04/84 Interest 8.76
10/04/84 Interest 13.82
11/05/B4 Interest 8.34
11/05/84 Interest 13.54
12/05/84 Interest 7.48
12/05/84 Interest 12.15
01/09/85 Interest 6.09
01/09/85 Interest 21. 31
02/05/85 Interest 2.98
02/05/85 Interest 18.08
03/05/85 Interest 2.07
03/05/85 Interest 20.24
04/04/85 Interest 1.82
04/04/85 Interest 26.47
05/06/85 Interest 1.66
05/06/85 Interest 26.59
06/05/85 Interest 1.64
06/05/85 Interest 25.36
07/08/85 Interest 0.87
FORWARD $ 15,902.89 $ 87,402.71
- 71 -
".
.........i;',.','....~..;.,,"J~, :.:', r
'-,
RECEIPTS OF INCOME (cont'dl
FORWARD $ 15,902.89 $ 87,402.71
Short Term Investment
EYru!
(cont'dl
07/08/85 Interest 18.62
08/03/85 Interest 0.81
08/03/85 Interest 18.94
09/06/85 Interest 3.74
09/06/85 Interest 19.67
10/04/85 Interest 3.41
10/04/85 Interest 4.12
11/04/85 Interest 2.49
11/04/85 Interest 14.40
12/05/85 Interest 2.42
12/05/85 Interest 6.75
01/08/86 Interest 1.02
01/08/86 Interest 5.49
02/05/86 Interest 0.47
02/05/86 Interest 3.43
03/05/86 Interest 1.86
03/05/86 Interest 5.00
04/03/86 Interest 2.20
04/03/86 Interest 7.92
FORWARD $ 16,025.65 $ 87,402.71
- 72 -
.-- ...".-",,-.-
.,
",
."
RECEIPTS OF INCOME (cont'dl
FORWARD $ 16,025.65 $ 87,402.71
short Term Investment
Fund
(cont'dl
05/06/86 Interest 1. 93
05/06/86 Interest 5.57
06/05/86 Interest 1.90
06/05/86 Interest 0.62
07/03/86 Interest 5.07
07/03/86 Interest 1.88
08/06/86 Interest 15.66
08/06/86 Interest 4.14
09/08/86 Interest 13 .89
09/08/86 Interest 5.22
10/07/86 Interest 8.90
10/07/86 Interest 1.82
11/05/86 Interest 10.82
11/05/86 Interest 1.32
12/04/86 Interest 9.34
12/04/86 Interest 2.25
01/08/87 Interest 5.83
01/08/87 Interest 1.02
02/06/87 Interest 2.79
FORWARD $ 16,125.62 $ 87,402.71
- 73 -
-,
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RECEIPTS OF INCOME (cont'dl
FORWARD $ 16,125.62 $ 87,402.71
Short Term Investment
l!ml!
(cont'dl
02/06/87 Interest 1.42
03/04/87 Interest 1. 69
03/04/87 Interest 2.67
04/03/87 Interest 14.93
04/03/87 Interest 4.03
05/05/87 Interest 23.69
06/04/87 Interest 25.12
07/03/87 Interest 24.72
08/05/87 Interest 24.89
09/03/87 Interest 23.93
10/05/87 Interest 21. 51
11/04/87 Interest 18.68
12/03/87 Interest 10.01
12/31/87 Interest 6.84
02/04/88 Interest 116.25
03/03/88 Interest 48.61
04/04/88 Interest 17.04
05/05/88 Interest 6.85
.06/03/88 Interest 3.58
FORWARD $ 16,522.08 $ 87,402.71
- 74 -
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RECEIPTS OF INCOME (cont'dl
FORWARD $ 16,522.08 $ 87,402.71
Short Term Investment
Fund
-Lcont ' d 1
07/05/88 Interest 4.97
08/03/88 Interest 4.73
09/02/88 Interest 19.71
10/05/88 Interest 11.17
11/04/88 Interest 5.61
12/02/88 Interest 12.34
12/30/88 Interest 13.99
.02/03/89 Interest 13.50
03/06/89 Interest 10.68
04/06/89 Interest 10.51
05/05/89 Interest 13.14
06/06/89 Interest 22.94
07/03/89 Interest 28.18
08/04/89 Interest 27.35
09/05/89 Interest 26.62
10/06/89 Interest 23.46
11/03/89 Interest 19.90
12/05/89 Interest 16.16
01/04/90 Interest 14.75
FORWARD $ 16,821.79 $ 87,402.71
- 75 -
.,-
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,-
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RECEIPTS OF INCOME (cont'dl
FORWARD $ 16,821.79 $ 87,402.71
Short Term Investment
Fund
(cont'dl
02/07/90 Interest 19.05
03/06/90 Interest 16.57
04/09/90 Interest 16.40
05/04/90 Interest 11. 31
06/06/90 Interest 17.53
07/05/90 Interest 11.10
08/03/90 Interest 10.83
09/07/90 Interest 8.19
10/05/90 Interest 27.44
11/06/90 Interest 31.52
12/05/90 Interest 24.67
01/04/91 Interest 14.90
02/07/91 Interest 18.90
03/06/91 Interest 14.72
04/04/91 Interest 8.22
05/06/91 Interest 6.B9
06/06/91 Interest 5.76
, 07/05/91 Interest 4.74
08/05/91 Interest 3.47
FORWARD $ 17,094.00 $ 87,402.71
- 76 -
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RECEIPTS OF INCOME (cont'dl
FORWARD $ 17,094.00 $ 87,402.71
Short Term Investment
Fund
(cont'dl
09/06/91 Interest 10.40
10/03/91 Interest 8.56
11/08/91 Interest 4.04
12/05/91 Interest 0.97 17,117.97
Transfer from Principal
12/18/80 reimbursement for tuition for Stephen
Phillips $ 1,890.00
09/29/83 transfer 680.42
12/03/86 transfer 1,612.71
04/26/93 transfer 41. 54
07/01/93 transfer 19.00 4,243.67
Warren C. phillips Estate
08/07/81 transfer $ 1,000.00
08/13/81 transfer 2,900.00
08/19/81 transfer 3,641.85
08/31/81 transfer 42.90 7.584.75
TOTAL RECEIPTS OF INCOME $ 116,349.10
===============
- 77 -
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DISBURSEMENTS OF INCOME
08/15/80 Maryland Institute ,
tuition for Stephen John $ 1,890.00
Phillips
03/23/81 Lebanon Valley National
Bank, parment for Stephen
J. Phill ps 60.44
03/30/81 Ca~ital Blue Cross Blue
Sh eld, premium 94.35
04/21/81 Lebanon Valley National
Bank, parment for Stephen
J. Phill ps 60.44
04/21/81 Pennsylvania Department
of Revenue, 1980
Fiduciary Income Tax 141. 58
04/21/81 Internal Revenue service,
1980 Fiduciary Income Tax 1,271.27
08/07/81 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 336.60
08/27/81 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 165.00
10/05/81 Warren c. Phillips Estate
No.04533860, transfer to
cover Fiduciary Taxes 19.74
10/29/81 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 336.60
11/24/81 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 165.00
FORWARD $ 4,541. 02
- 78 -
""-
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.,
PISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 4,541.02
12/31/81 Manufactureres Hanover,
mortgage layments for 165.00
Mary P. M senhelder
01/26/82 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 165.00
02/26/82 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 165.00
03/26/82 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 165.00
04/23/82 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 165.00
04/26/82 Pennsylvania Department
of Revenue, Fiduciary
Income Tax for 4/12/82 12.51
OS/25/82 Manufactureres Hanover,
mortgage payments for
Mary P. Misenhelder 165.00
06/25/82 Manufactureres Hanover,
mortgage layments for
Mary P. M senheldcr 161.00
07/26/82 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 161.00
08/26/82 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 161.00
FORWARD $ 6,026.53
- 79 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 8,656.53
03/22/83 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 161.00
04/22/83 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 161. 00
OS/23/83 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 161. 00
06/09/83 Internal Revenue Service,
quarter ending 6/15/83 909.00
06/09/83 pennsylvania Department..
of Revenue, quarter
ending 6/15/83 1.14.00
06/16/83 ca1ital Blue Cross Blue
Sh eld, premium 231.93
06/22/83 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 1.57.00
07/22/83 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 1.57.00
08/22/83 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 1.57.00
09/08/83 Internal Revenue Service,
taxes for quarter ending
9/15/83 909.00
FORWARD $ 11,774.46
- 81 -
r,
DISBURSEMENTS OF INCOMB (cont'dl
FORWARD $ 11,774.46
09/08/83 Pennsylvania Department
of Revenue, taxes for
quarter ending 9/15/83 114.00
09/22/83 Manufaotureros Hanover,
mortgage ~aymonts for
Mary P. M sonhelder 157.00
10/21/83 Manufl1cturares Hanover,
mortgage ~ayments for
Mary P. M senhalder 157.00
11/22/83 Manufaotureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 157.00
12/22/83 Manufaoturares Hanover,
mortgage ~ayments for
Mary P. M senhelder 157.00
01/16/84 Manufactureres Hanover,
late charges on mortgage
payments for Mary P.
Misenhelder 6.96
01/20/84 Manufactureres Hanover,
mortgage yayments for
Mary P. M senhelder 157.00
01/22/84 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 158.00
02/22/84 Manufactureres Hanover,
mortgage layments for
Mary P. M senhelder 157.00
FORWARD $ 12,995.42
- 82 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 12,995.42
03/22/84 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 157.00
04/19/84 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 157.00
05/01/84 Corestates Bank, N.A.,
reimbursement for calls
to South Carolina 1/27 &
3/7 25.20
OS/22/84 Manufactureres Hanover,
mortgage ~ayments for 157.00
Mary P. M~senhelder
06/22/84 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 157.00
07/20/84 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 157.00
08/22/84 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 157.00
09/21/84 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 157.00
10/22/84 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 157.00
FORWARD $ 14,276.62
- 83 -
1"'.'
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 14,276.62
11/21/04 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 157.00
12/21/B4 Manufactureres Hanover,
mortgage rayments for
Mary P. M senhelder 157.00
01/22/85 Manufactureres Hanover,
mortgage rayments for
Mary P. M serlhelder 157.00
02/22/85 ManUfactureres Hanover,
mortgage rayments for
Mary P. M senhelder 157.00
03/22/85 Manufactureres Hanover,
mortgage rayments for
Mary P. M senhelder 157.00
04/22/85 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 157.00
OS/22/85 Manufactureres Hanover,
mortgage rayments for
Mary P. M senhelder 157.00
07/22/85 ManUfactureres Hanover,
mortgage rayments for
Mary P. M senhelder 158.00
08/22/85 Manufactureres Hanover,
mortgage rayments for
Mary P. M senhelder 158.00
08/26/85 Ouaphin County Treasuer,
1985 Personal Property
Tax 159.47
FORWARD $ 15,851.09
- 84 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 17,278.08
06/23/86 Manufactureres Hanover,
mortgage ~ayments for 158.00
Mary P. M senhelder
07/01/86 Manufactureres Hanover,
mortgage ~ayments for
Marl P. M senhelder,
add tional amount due 3.00
07/22/86 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 161.00
08/05/86 Dauphin County Treasurer,
1986 Personal property
Tax 180.09
08/22/86 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 161. 00
09/22/86 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 161.00
10/22/86 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M senhelder 161.00
11/24/86 Manufactureres Hanover,
mortgage ~ayments for
Mary P. M~senhe1der 161. 00
11/26/86 Serratelli & Schiffman,
Legal Services rendered
Re: divorce settlement of
Jean Dalina 2,146.16
FORWARD $ 20,570.33
- 86 -
'""'
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 21,740.76
07/22/87 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 164.00
08/24/87 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 164.00
08/27/87 Dauphin County Treasurer,
Personal Property Tax for
1987 219.91
09/22/87 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 164.00
10/22/87 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 164.00
11/23/87 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 164.00
12/22/87 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 164.00
01/25/88 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder . 164.00
FORWARD $ 23,108.67
- 88 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 23,108.67
02/22/88 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 164.00
03/22/88 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 164.00
04/08/88 Pennsylvania Department
of Revenue, Fiduciary
Income Tax for 1987 2.00
04/25/88 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 164.00
OS/23/88 Fireman's Fund Mortgage
Corp, monthly mortgage
j' payment for Mary
Misenhelder 164.00
06/22/88 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 165.00
07/22/88 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 165.00
08/22/88 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 165.00
FORWARD $ 24,261. 67
- 89 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 25,553.54
04/21/89 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary 165.00
Misenhelder
OS/24/89 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 165.00
06/22/89 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
07/21/89 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 172.00
08/10/89 Dauphin County Treasurer,
Personal Porperty Tax for
1989 181. 54
08/22/89 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 172.00
09/22/89 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 172.00
10/23/89 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
FORWARD $ 26,925.08
- 91 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 28,301. 08
07/23/90 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 172.00
08/10/90 Dauphin County Treasurer,
Personal property Tax for
1990 179.58
08/22/90 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
09/21/90 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 172.00
10/22/90 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
11/21/90 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
12/21/90 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
01/22/91 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
FORWARD $ 29,684.66
\- 93 -
DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 29,684.66
02/22/91 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
03/22/91 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 172.00
04/22/91 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
OS/22/91 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 172.00
06/24/91 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172 . 00
07/22/91 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
08/02/91 Dauphin County Treasurer,
1991 Personal Property
Tax 137.46
08/22/91 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 172.00
FORWARD $ 31,026.12
- 94 -
DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 31,026.12
09/23/91 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
10/22/91 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhe1der 172.00
11/22/91 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 172.00
12/20/91 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 172.00
01/22/92 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 172.00
02/24/92 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 177.00
03/23/92 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 177.00
04/22/92 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 177.00
FORWARD $ 32,417.12
- 95 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 33,707.49
10/22/92 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 148.00
11/23/92 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 148.00
12/22/92 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 148.00
01/22/93 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 148.00
02/22/93 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 148.00
03/22/93 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary
Misenhelder 148.00
04/22/93 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 148.00
OS/24/93 Fireman's Fund Mortgage
corp, monthly mortgage
payment for Mary \
Misenhelder 148.00
FORWARD $ 34,891. 49
- 97 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 34,891. 49
06/29/93 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 167.00
07/09/93 Federal Express
corporation, payment for
beneficiary 6.90
07/22/93 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 167.00
08/23/93 Fireman's Fund Mortgage
Corp, monthly mortgage
payment for Mary
Misenhelder 167.00
coreStates Bank. N.A.
06/0.6/80 Income commission $ 70.66
09/09/80 Income commission 128.39
12/19/80 Income commission 148.53
03/10/81 Income commission 83.80
06/15/81 Income commission 39.69
08/31/81 Income commission 13.47
09/25/81 Income commission 13.72
10/27/81 Income commission 45.33
11/27/81 Income commission 46.52
FORWARD $ 590.11 $ 35,399.39
- 98 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 590.n $ 35,399.39
CoreStates Bank. N.A.
(cont'dl
12/18/81 Income commission 47.33
01/08/82 Income commission 40.88
02/08/82 Income Commission 38.65
03/05/82 Income commission 40.29
04/05/82 Income Commission 38.48
05/06/82 Income commission 42.67
06/01/82 1981 Tax Preparation 100.00
06/04/82 Income Commission 44.62
07/07/82 Income commission 44.28
08/04/82 Income commission 42.93
09/16/82 Income Commission 43.15
10/05/82 Income Commission 32.52
11/10/82 Income Commission 31.63
12/07/82 Income Commission 29.34
01/03/83 Income Commission 30.63
02/09/83 Income Commission 29.71
03/08/83 Income Commission 26.57
04/18/83 Income Commission 28.78
r'ORWARD $ 1,322.57 $ 35,399.39
- 99 -
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DISBURSEHENTS OF INCOME (cont'dl
FORWARD $ 1,322.57 $ 35,399.39
coreStates Bank. N.A.
(cont'dl
05/05/83 Income commission 32.49
06/06/83 Income commission 26.06
07/05/83 Income commission 32.61
08/04/83 Income commission 31.03
09/07/83 Income Commission 29.42
10/07/83 Income commission 34.25
11/03/83 Income commission 33.01
12/05/83 Income commission 32.08
01/03/84 Income commission 33.81
02/10/84 Income commission 31.17
02/22/84 Income Commission 27.74
04/03/84 Income commission 33.62
, 05/03/84 Income commission 37.43
06/04/84 Income commission 27.90
07/03/84 Income commission 33.83
08/06/84 Income commission 20.51
09/06/84 Income Commission 47.39
10/03/84 Income commission 37.39
FORWARD $ 1,904.31 $ 35,399.39
- 100 -
DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 1,904.31 $ 35,399.39
CoreStates Bank. N.A.
(cont'dl
11/05/84 Income commission 35.36
, 12/03/84 Income commission 33.35
01/07/85 Income Commission 40.01
02/04/85 Income Commission 35.12
03/05/85 Income Commission 31.94
04/04/85 Income Commission 37.23
05/10/85 Income commission 33.79
06/03/85 Income Commission 34.64
07/01/85 Income Commission 36.18
08/03/85 Income Commission 31. 94
09/03/85 Income commission 29.99
10/02/85 Income Commission 35.51
11/04/85 Income Commission 30.69
, 12/02/85 Income Commission 31. 38
01/06/86 Income Commission 33.91
02/03/86 Income Commission 30.19
03/03/86 Income Commission 26.24
04/01/86 Income Commission 32.29
FORWARD $ 2,504.07 $ 35,399.39
- 101 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 3,052.96 $ 35,399.39
CoreStates Bank. N.A.
(cont'dl
11/04/87 Income Commission 34.63
12/04/87 Income Commission 32.04
01/08/88 Income Commission 35.31
02/01/88 Income Commission 33.86
03/03/B8 Income Commission 30.31
04/04/88 Income Commission 37.30
05/02/88 Income Commission 34.12
06/03/88 Income Commission 31. 74
07/05/88 Income Commission 35.94
.08/01/88 Income Commission 32.91
09/02/88 Income Commission 32.25
, 10/03/88 Income commission 35.50
11/04/88 Income Commission 32.99
12/02/88 Income commission 33.06
01/03/89 Income Commission 34.16
02/03/89 Income commission 34.28
03/03/89 Income commission 33.58
04/03/89 Income Commission 33.28
FORWARD $ 3,660.22 $ 35,399.39
- 103 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 3,660.22 $ 35,399.39
CoreStates Bank. N.A.
(cont'dl
05/01/89 Tax service Fee for 1988 25.00
05/01/89 Income commission 33.92
06/02/89 Income commission 32.63
07/03/89 Income commission 35.26
08/04/89 Income commission 34.82
09/05/89 Income commission 35.58
10/02/89 Income Commission 34.70
11/03/89 Income commission 33.37
12/04/89 Income commission 33.43
01/02/90 Income Commission 33.67
02/02/90 Income commission 34.09
03/02/90 Income commission 34.02
04/02/90 Income commission 33.14
05/02/90 Tax Service Fee for 1989 27.00
05/02/90 Income Commission 32.87
06/01/90 Income commission 31. 28
07/02/90 Income commission 33.34
08/02/90 Income Commission 33.04
FORWARD $ 4,251.38 $ 35,399.39
- 104 -
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PISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 4,251.38 $ 35,399.39
CoreStates Bank. N.A.
tcont'dl
09/04/90 Income Commission 31.47
10/01/90 Income commission 32.07
11/02/90 Income Commission 31. 34
12/03/90 Income Commission 31. 94
01/02/91 Income Commission 33.03
02/04/91 Income Commission 30.85
03/04/91 Income Commission 30.82
04/01/91 Income Commission 30.15
05/03/91 Tax Service Fee for 1990 27.00
05/03/91 Income Commission 28.88
06/03/91 Income Commission 28.79
07/02/91 Income Commission 29.96
. 08/05/91 Income Commission 29.66
09/03/91 Income Commission 29.81
10/02/91 Income Commission 29.99
11/04/91 Income Commission 28.21
12/02/91 Income Commission 28.80
01/08/92 Income Commission 28.91
FORWARD $ 4,793.06 $ 35,399.39
- 105 -
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DISBURSEMENTS OF INCOME (cont'dl
FORWARD $ 4,793.06 $ 35,399.39
CoreStates Bank. N.A.
(cont'dl
03/31/92 Income Commission 81. 65
05/14/92 Tax service Fee for 1991 25.00
OS/20/93 Tax Service Fee for 1992 27.00
08/24/93 Income commission to
date 324.57 5.251.28
TOTAL INCOME DISBURSEMENTS $ 40,650.67
==============
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DISTRIBUTIONS OF INCOME TO BENEFICIARIES
Gwendolvn M. Phillips
08/06/80 transfer $ 1,000.00
,
01/02/81 income 5,978.19
08/11/81 income 1,500.00
08/27/81 income 1,000.00
09/10/81 income 2,254.27
12/15/81 income 500.00
05/10/82 cover payment of taxes 109.14
08/27/82 income 389.00
04/18/83 to cover 1982 tax payments 553.83
04/23/85 per request 500.00
OS/20/85 per request 1,000.00
08/27/85 per request 2,100.00
11/04/85 transfer 2.000.00 $ 18,884.43
Gwendolyn M. phillips Trust
No.041340100
08/20/82 transfer $ 1,000.00
04/29/83 transfer 1,007.94
OS/25/83 to cover taxes and tax preparation 222.23
12/02/83 transfer 1,022.00
04/23/84 transfer 1,053.00
06/11/84 transfer 885.00
08/23/84 transfer 1,030.00
FORWARD $ 6,220.17 $ 18,884.43
- 107 -
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DISTRIBUTIONS OF INCOME TO BENEFICIARIES (cont'dl
FORWARD $ 6,220.17 $ 18,884.43
Gwendolvn M. Phillips Trust
No.041340100 (cont'd)
12/17/84 transfer 1,280.95
03/19/85 transfer 250.95
06/07/85 transfer 250.95
06/13/85 transfer 696.00
06/21/85 transfer 158.00
08/28/85 transfer 805.00
09/10/85 transfer 250.95
09/13/85 transfer 780.00
12/12/85 transfer 250.95
, 12/20/85 transfer 805.00
03/18/86 transfer 250.95
04/18/86 transfer 1,663.70
05/14/86 transfer 200.00
09/09/86 transfer 1,440.00
09/18/86 transfer 133.00
12/15/86 transfer 531. 68
03/10/87 transfer 229.65
04/03/87 transfer 481.28
04/15/87 transfer 328.25
FORWARD $ 17,007.43 $ 18,884.43
- 108 -
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DISTRIBUTIONS OF INCOME TO BENEFICIARIES (cont'dl
FORWARD $ 17,007.43 $ 18,884.43
Gwendolvn M. Phillips Trust
No.041340100 (cont'd)
04/17/87 transfer 76.00
05/14/87 transfer 295.89
06/23/87 transfer 601.81
07/15/87 transfer 366.92
07/22/87 transfer 284.88
08/13/87 transfer 370.48
09/14/87 transfer 668.49
10/15/87 transfer 515.00
11/17/87 transfer 383.26
12/16/87 transfer 490.40
.01/12/88 transfer 556.89
02/17/88 transfer 408.00
03/15/88 transfer 530.56
04/15/88 transfer 500.66
05/13/88 transfer 436.00
06/14/88 transfer 522.00
07/07/88 transfer 500.00
08/12/88 transfer 405.33
09/12/88 transfer 375.87
FORWARD $ 25,295~87 $ 18,884.43
- 109 -
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DISTRIBUTIONS OF INCOME TO
FORWARD
BENEFICIARIES (cont'dl
$ 25,295.87 $
18,884.43
Gwendolvn M. Phillips Trust
No.041340100 (cont'd)
10/07/88 transfer 459.24
11/09/88 transfer 463.13
12/07/88 transfer 485.16
01/09/89 transfer 489.45
02/09/89 transfer 472.34
03/09/89 transfer 467.08
04/10/89 transfer 618.64
05/10/89 transfer 328.43
06/30/89 transfer 500.50
.08/08/89 transfer 364.26
09/08/89 transfer 934.52
10/11/89 transfer 460.76
11/09/89 transfer 463.24
12/08/89 transfer 467.93
01/09/90 transfer 476.18
02/09/90 transfer 474.36
03/08/90 transfer 456.78
04/09/90 transfer 435.88
05/09/90 transfer 410.07
FORWARD $ 34,523.82 $ 18,884.43
- no -
DISTRIBUTIONS OF INCOME TO BENEFICIARIES (cont'dl
FORWARD
Gwendolvn M. Phillips Trust
No.041340100 (cont'd)
01/27/92 transfer
02/25/92 transfer
03/25/92 transfer
04/27/92 transfer
06/25/92 transfer
07/27/92 transfer
08/25/92 transfer
09/25/92 transfer
10/26/92 transfer
11/25/92 transfer
12/28/92 transfer
01/25/93 transfer
02/25/93 transfer
03/25/93 transfer
04/21/93 transfer
OS/25/93 transfer
06/25/93 transfer
07/26/93 transfer
FORWARD
- 112 -
$
41,949.44 $
332.05
341.82
318.06
330.77
278.92
136.25
341. 96
304.17
280.89
271. 89
271. 60
265.90
244.73
245.33
292.06
204.04
245.39
182.52
18,884.43
46,837.79
$
65,722.22
Exhibit C
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EXHIBIT "c"
The Beneficiaries approve the termination of Trust "B" and
agree to accept the following proportions and amounts in full and
complete satisfaction of their respective interests in Trust "B":
Gwendolyn M. Phillips 51. 2% $31,739.04
Mary P. Misenhelder 12.2% 7,562.82
Jean P. Dalina 12.2% 7,562.82
Warren C. Phill ips I Jr" M.D. 12.2% 7,562.82
stephen J. Phillips 12.2% 7.562.82
100.0% $61. 990.32
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4. By letter dated October 19, 1993, Richard H. Sherman,
M.D. (the personal physician of Warren C. Phillips, Jr., M.D.)
certified that Warren c. Phillips, Jr., M.D. had become unable to
manage his own affairs due to metastatic adenocarcinoma.
5. Acting pursuant to the Power of Attorney, Susan S.
Phillips executed the "Consent to the Receipt, Release, Refunding
and Indemnity Agreement" of Warren c. Phillips, Jr., M.D. on
October 19, 1993.
6. Warren C. Phillips, Jr., M.D. died on October 24, 1993,
survived
by his wife, Susan S. Phillips, and two sons, Mark
and~~~ Phillips. At the time of his death, Trustee
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Phillips
had made no distribution pursuant to the Agreement to terminate
the Trust.
7. Items 3 (d) and (g) of the Trust provides as follows:
(d) ... Any share of Trust B, income or princi-
pal, which becomes distributable at termination to a
minor, shall be held in trust by the Trustee during
minority. ... Such amounts may be applied directly or
may be paid to the person with whom such minor resides
or who has the care and control of such minor, without
the interventi.on of a auardian. The Trustee shall not
be obliged to supervis~ or inquire into the application
of said amounts by such person, and the receipt of such
person shall be a complete release of the Trustee. ..,
(g) If ... any beneficiary of ... Trust B shal~,
in the sole opinion of the Trustee, be or become men-
tally or physically incapacitated by reason of illness,
accident, minority or otherwise, the Trustee may apply
either income or principal for the support and welfare
of ... such beneficiary directly, or to the person who
has the care and control of .., such beneficiary,
without the intervention of any guardian, and without
obligation to supervise application of said amounts in
any way. ...
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8. Mark Phillips suffers from a learning disability, and
the Trustee is of the opinion that he is incapacitated.
1901cw,
9. All~n Phillips is a minor, and the Trustee is of
the
opinion that he is incapacitated.
10. Trustee desires to pay the share of Warren C. Phillips,
Jr., M.D. to his widow, Susan S. Phillips, who has care and
control of their sons.
11. Susan S. Phillips desires to avoid obtaining the
appointment of a guardian for her sons, and is willing to execute
a receipt and release in Trustee's favor, in exchange for the
payment of her sons' share of the Trust to her directly.
NOW THEREFORE, in consideration of the foregoing and intend-
ing to be legally bound hereby, Susan S. Phillips, for herself,
her heirs, personal representatives, successors and assigns, does
hereby agree as follows:
A. Susan S. Phillips acknowledges receipt of the share of
the Trust that would have been paid to Warren C. Phil-
lips, Jr.., M.D.
B. Each of the two sons of Warren c. Phillips, Jr., M.D.
is entitled to one-half of the amount so paid.
C. Susan S. Phillips, in her individual capacity, and as
parent and natural guardian of her sons, hereby abso-
lutely and irrevocably remises, releases, quitclaims
and forever discharges Trustee (in its capacity as a
fiduciary and in its corporate capacity) and each and
everyone of the Trustee's employees, agents, attor-
neys, advisors, and counselors, and their respective
heirs, personal representatives, successors and as-
signs, of and from any and all actions, payments,
accounts, reckonings, liabilities, claims and demands
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