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Home My WebLink About03-29-07 INRE: ESTATE OF JANET M. EVANS, Deceased : IN THE COURT OF COMMON PLEAS OF : CUMBERLAND COUNTY, : PENNSYLVANIA : IN THE ORPHANS' COURT DIVISION : NO. 2006-00521 APPROVAL OF ACCOUNT. RECEIPT. RELEASE AND INDEMNIFICATION WHEREAS, Janet M. Evans (the "Decedent") died on May 16, 2006, leaving a Will which was duly probated by the Register of Wills of Cumberland County, Pennsylvania on June 14,2006; and WHEREAS, the Decedent's Will appoints David L. Evans as Executor (the "Executor") and Letters Testamentary were duly granted to the Executor on June 14, 2006; and WHEREAS, the Pennsylvania Inheritance Tax return has been fiJ~d and apptoved ") and all Pennsylvania Inheritance Tax has been paid; and ~ j WHEREAS, the administration of the estate is nearly complete withthe excePtion J ......:] of the final fiduciary income tax returns for the estate; and ,. , WHEREAS, the Executor wishes to make distribution of the Estate witho'ut the expense and formality of a court accounting and instead upon Approval of Account, Receipt, Release and hldernnification, which it is the purpose of this Agreement to provide. NOW, THEREFORE, the undersigned, for themselves, their personal representatives and heirs, do hereby: 1. State that they have examined the First and Final Account which is attached hereto as Exhibit "A" (hereinafter the "Account") and approve the transactions set forth or proposed 643256.1 ~ therein (and the administration of the Estate generally) as though they were contained in a formal Accounting which had been confirmed absolutely by the Court having jurisdiction over the Estate. 2. State that they have examined the Statement of Proposed Distribution attached to the Account and they approve the distributions proposed therein as though they were ordered by the Court having jurisdiction over the Estate. 3. Waive the filing of the Account in any Court and agree that any Court having jurisdiction over the Estate may confirm the Account in the form attached hereto. 4. Acknowledge receipt from the Executor of the assets shown as distributed to them in the said Account or distributable to them in the Proposed Distribution in absolute payment of and in full satisfaction of their interest under the Decedent's Will or in Decedent's Estate for whatever reason, whether as beneficiary, heir or claimant. 5. Do hereby absolutely and irrevocably release, remise, quitclaim and forever discharge the said Executor, his personal representatives, heirs and assigns, of and from all actions, suits, payments, accounts, reckonings, claims and demands whatsoever for or by reason of their actions as Executors of the Estate. 6. Do hereby absolutely and irrevocably release the Executor from filing any Account, Petition for Distribution or other document with the Court of Common Pleas of Cumberland County, Pennsylvania, or in any other jurisdiction in connection with the Estate of the said Decedent. 7. Hereby agree that if, at any time in the future, the said Executor receives any demand or claim for any amount claimed to be due and owing from the Estate, or him as Executor, and approves said demand or claim, they shall, at the request of the said Executor, pay to the said -2- Executor their respective shares of the amount of any such demand or claim, or if it has been paid by the said Executor, then reimburse him for the amount paid by him, provided that the amount of such requested payment or reimbursement shall not exceed the total of the assets paid or distributed by said Executor to the Beneficiaries as set forth in the attached Account. 8. Hereby agree to indemnify the Executor and hold him harmless, to the extent of the Estate assets received by the undersigned, from and against any and all claims, loss, liability or damage (including legal fees and costs) which they may suffer or to which they may be subjected by reason of the administration of the Estate or the distribution of the assets of the estate without having formal approval of the Court of Common Pleas, Orphans' Court Division, of Cumberland County, Pennsylvania, or any other jurisdiction. 9. Do hereby agree that this Agreement may be signed and acknowledged by the parties hereto in counterparts and a complete set of executed counterparts, containing the signatures of all parties, shall constitute an original and complete instrument. This instrument shall be legally binding upon the undersigned, their heirs, administrators and assigns. IN WITNESS WHEREOF, each of the undersigned has executed this Agreement on the day of ,2007. a"u;~ ;Jlg~ Witness ~t , David L. Evans - (SEAL) (SEAL) Witness Thomas David Evans - 3 - Executor their respective shares of the amount of any such demand or claim, or if it has been paid by the said Executor, then reimburse him for the amount paid by him, provided that the amount of such requested payment or reimbursement shall not exceed the total of the assets paid or distributed by said Executor to the Beneficiaries as set forth in the attached Account. 8. Hereby agree to indemnify the Executor and hold him harmless, to the extent of the Estate assets received by the undersigned, from and against any and all claims, loss, liability or damage (including legal fees and costs) which they may suffer or to which they may be subjected by reason of the administration of the Estate or the distribution of the assets of the estate without having formal approval of the Court of Common Pleas, Orphans' Court Division, of Cumberland County, Pennsylvania, or any other jurisdiction. 9. Do hereby agree that this Agreement may be signed and acknowledged by the parties hereto in counterparts and a complete set of executed counterparts, containing the signatures of all parties, shall constitute an original and complete instrument. This instrument shall be legally binding upon the undersigned, their heirs, administrators and assigns. IN WITNESS WHEREOF, each of the undersigned has executed this Agreement on the ~ day of f1l~ ,2007. (SEAL) Witness David L. Evans ~/~ I , iSEAL) Thomas David Evans~ - 3 - COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF 'D It u fit /.~ On this, the~oJ1f day of 1ll;l1-t'1! ,2007, before me, a Notary Public, in and for the Commonwealth of Pennsylvania, the undersigned officer, personally appeared DAVID L. EVANS, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within Receipt, Release and hldemnification and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. t~;!!/~ Notary Public My Commission Expires: ~ - ~ !j c;jZ~ 0' 1 (SEAL) (SEAL) COMMONWEALTH OF PENNSYLVAl'Ii/\ Notarial Seal I Carrie M. Barnes, Notary Public I C'IlyOfHarrisburg, Dauphin County I My Commission Expires Jan. 28, 2009 j Member, Pennsylvania Assoc!ation 01 Norarie'- - 4- COMMONWEALTH OF VIRGINIA COUNTY OF thes\erl1"dc:\ : SS: On this, the ~ day of tJl.~ r uY) , 2007, before me, a Notary Public, in and for the Commonwealth of Virginia, the undersigned officer, personally appeared THOMAS D. EVANS, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within Receipt, Release and hldemnification and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. (SEAL) My Commission Expires: 1/3 I /Ovr- (SEAL) - 5 - IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NO. 2006-00521 FIRST AND FINAL ACCOUNTING OF DAVID L. EV ANS For ESTATE OF JANET M. EVANS Date of Death: May 16, 2006 Date of Appointment: June 14, 2006 Date of First Complete Advertisement: July 12, 2006 Accounting for the Period: May 16, 2006 To March 31, 2007 Purpose of Account: David L. Evans, Executor, offers this account to acquaint interested parties with the transactions that have occurred. The account also indicates the proposed distribution of the Estate assets. It is important that the account be carefully examined. Requests for additional information, or questions, or objections, can be discussed with: Stanley A. Smith, Esquire Rhoads & Sinon LLP One South Market Square, 12th Floor P.O. Box 1146 Harrisburg, P A 17108-1146 (717) 233-5731 643456.1 Estate of Janet M. Evans Receipts of Principal Inventory Value Cash and Cash Equivalents 05/16/2006 PNC Bank Checking account #51-4026-8474 $ 110,544.03 hlterest to Date of Death 5.28 PNC Bank Savings account #51-3021-2231 2,389.44 hlterest to Date of Death 2.56 Wachovia Securites Money Market account #3040-1500 9,847.81 Total Cash and Cash Equivalents $ 122.789.12 No. of Shares Stocks 124 BAKER HUGHES INC $ 10,047.72 Dividend at Date of Death 16.12 76 METLIFE INC 3,978.60 Total Stocks 14.042.44 No. of Shares Mutual Funds 2,408.748 DRYDEN GOVT INCOME FD INC CLA $ 20,883.85 3,232 LORD ABBET INVT TR US GOV &GOVSPRA 8,112.32 Total Mutual Funds 28.996.17 Miscellaneous MetLife Annuity, contract #940029532 Owner: Decedent Beneficiary: David L. Evans $ 17,754.06 Nationwide Life hlsurance Policy #1216422 Owner: Decedent Beneficiary: Estate 3,941.39 (2) Miscellaneous Receipts of Principal (Continued) Inventory Value 05/16/2006 New Jersey Public Employees Retirement System Life hlsurance Owner: Decedent Beneficiary: Estate $ 2,949.75 Total Miscellaneous Total Inventory Receipts Subsequent to Inventory OS/23/2006 Reimbursement from Nursing Home hlsurance $ 5,266.48 07/16/2006 Reimbursement from Nursing Home hlsurance 3,158.25 03/20/2007 2006 P A hlcome Tax Refund 143.00 Total Receipts Subsequent to Inventory Total Receipts of Principal (3) $ $ $ $ 24.645.20 190.472.93 8.567.73 199,040.66 Estate of Janet M. Evans Gains and Losses on Sales or Other Dispositions of Principal Net Gain Net Loss 05/1612006 Collection PNC Bank Checking account #51-4026-8474 Net Proceeds $ 110,544.03 Carried at 110,544.03 OS/23/2006 Collection Reimbursement from Nursing Home hlsurance Net Proceeds $ 5,266.48 Carried at 5,266.48 06/05/2006 Collection PNC Bank Savings account #51-3021-2231 Net Proceeds $ 2,389.44 Carried at 2,389.44 07/17/2006 Collection Reimbursement from Nursing Home hlsurance Net Proceeds $ 3,158.25 Carried at 3,158.25 08/14/2006 Collection New Jersey Public Employees Retirement System Life hlsurance Owner: Decedent Beneficiary: Estate Net Proceeds $ 2,949.75 Carried at 2,949.75 09/15/2006 Sale 124 Shares BAKER HUGHES INC hlventoried at $ 10,047.72 Net Proceeds 7,932.16 $ 2,115.56 (4) Gains and Losses on Sales or Other Dispositions of Principal (Continued) Net Gain Net Loss 09/15/2006 Sale 3,232 Shares LORD ABBET INVT TR US GOV &GOVSPRA Net Proceeds $ 8,350.46 hlventoried at 8,112.32 $ 238.14 09/15/2006 Sale 76 Shares METLIFE INC Net Proceeds $ 4,275.75 hlventoried at 3,978.60 297.15 09/28/2006 Sale 2,408.748 Shares DRYDEN GOVT INCOME FD INC CLA Net Proceeds $ 21,215.07 hlventoried at 20,883.85 331.22 09/28/2006 Collection Nationwide Life hlsurance Policy #1216422 Owner: Decedent Beneficiary: Estate Net Proceeds $ 3,941.39 Carried at 3,941.39 03/20/2007 Collection 2006 P A hlcome Tax Refund Net Proceeds $ 143.00 Carried at 143.00 Total Gains and Losses Net Loss $ 866.51 $ 2,115.56 $ 1.249.05 (5) Estate of Janet M. Evans Disbursements of Principal Date Paid Amount Paid Debts of Decedent Choice Nursing 05/1812006 Nursing expense $ 1,885.25 Check Number 9729 07/1512006 Nursing expense 700.38 Check Number 1002 Total Choice Nursing $ 2,585.63 Country Meadows Retirement Community 07/20/2006 Nursing home expense $ 1,867.84 Check Number 1007 Total Country Meadows Retirement Community $ 1,867.84 David Miner OS/2012006 $ 100.00 Check Number 9733 Total David Miner $ 100.00 Kinetic Concepts 07/21/2006 Debt $ 111.37 Check Number 1003 Total Kinetic Concepts $ 111.37 Kohl's 07/21/2006 Credit card expense $ 231. 79 Check Number 1005 08/26/2006 Credit card expense 28.71 Check Number 1010 Total Kohl's $ 260.50 Verizon 07/2012006 Telephone expense $ 11.69 Check Number 1001 (6) Disbursements of Principal (Continued) Date Paid Amount Paid Debts of Decedent Total Verizon $ 11.69 Total Debts of Decedent $ 4,937.03 Funeral Expenses Mahwah Redeemer Cemetery 07/19/2006 Expenses related to burial plot $ 550.00 Check Number 1008 Total Mahwah Redeemer Cemetery $ 550.00 Myers-Harner Funeral Home 07/20/2006 Funeral expense $ 754.50 Check Number 1006 Total Myers-Harner Funeral Home $ 754.50 Perfect Match Boutique 07/20/2006 Funeral expense $ 325.00 Check Number 1004 Total Perfect Match Boutique $ 325.00 Total Funeral Expenses $ 1,629.50 Administration Expenses PNC Bank 07/14/2006 hlterest withholding $ 13.08 08/03/2006 hlterest withholding 1.68 08/14/2006 hlteret withholding 13.40 Total PNC Bank $ 28.16 United States Treasury 03/15/2007 2006 Personal income tax $ 49.00 Total United States Treasury $ 49.00 (7) Disbursements of Principal (Continued) Date Paid Amount Paid Administration Expenses Total Administration Expenses $ 77.16 Federal and State Taxes Cumberland County Register of Wills 08/31/2006 Prepayment of inheritance taxes $ 7,500.00 Check Number 1009 12/20/2006 Balance of inheritance taxes 162.70 Check Number 1011 Total Cumberland County Register of Wills $ 7,662.70 Total Federal and State Taxes $ 7,662.70 Fees and Commissions RESERVES: Rhoads & Sinon LLP 03/15/2007 Attorney fees $ 5,750.00 03/15/2007 Out of pocket expenses to 660.01 include: Telephone - $.55; Federal Express - $11.60; Postage - $33.74; Stock evaluation - $6.20; Copies - $20.70; Court Fees - $363.00; Legal Notices - $224.22 03/15/2007 Preparation of Fiduciary 500.00 hlcome Tax Returns Total RESERVES: Rhoads & Sinon LLP $ 6,910.01 Total Fees and Commissions $ 6,910.01 Total Disbursements of Principal $ 21,216.40 (8) Estate of Janet M. Evans Distributions of Principal to Beneficiaries Distribution Value David L. Evans 07/15/2006 MetLife Annuity, contract #940029532 Owner: Decedent Beneficiary: David L. Evans $ 17,754.06 Total Distributions of Principal to Beneficiaries $ $ $ Total Distributions of Principal 17.754.06 17,754.06 17,754.06 (9) Estate of Janet M. Evans Principal Balance On Hand Inventory Value Cash and Cash Equivalents PNC Bank Money Market Account #51-3021-2231 $ 2,341.32 PNC Bank Checking Account #51-4026-8474 156,479.83 Total Cash and Cash Equivalents Total Balance on Hand (10) $ $ 158.821.15 158.821.15 Estate of Janet M. Evans Information Schedules - Principal Inventory Value Exchanges and Stock Distributions BAKER HUGHES INC 05/16/2006 124 Shs. Received 09115/2006 (124) Shs. Sold DRYDEN GOVT INCOME FD INC CLA 05/16/2006 2,408.748 Shs. Received 09/28/2006 (2,408.748) Shs. Sold LORD ABBET INVT TR US GOV&GOVSPRA 05/16/2006 3,232 Shs. Received 09/15/2006 (3,232) Shs. Sold $ 10,047.72 (10,047.72) 20,883.85 (20,883.85) 8,112.32 (8,112.32) MetLife Annuity, contract #940029532 Owner: Decedent Beneficiary: David L. Evans 05/16/2006 07/15/2006 Received Distribution To David L. Evans 17,754.06 (17,754.06) METLIFE INC 05/16/2006 09115/2006 76 Shs. (76) Shs. Received Sold 3,978.60 (3,978.60) Nationwide Life Insurance Policy #1216422 Owner: Decedent Beneficiary: Estate 05/16/2006 09/28/2006 Received Collected 3,941.39 (3,941.39) New Jersey Public Employees Retirement System Life Insurance Owner: Decedent Beneficiary: Estate 05/16/2006 Received 2,949.75 (11) Information Schedules - Principal (Continued) Inventory Value Exchanges and Stock Distributions New Jersey Public Employees Retirement System Life Insurance Owner: Decedent Beneficiary: Estate 08/1412006 Collected $ (2,949.75) (12) Estate of Janet M. Evans Receipts of Income Income Collected BAKER HUGHES INC 01/08/2007 Dividend $ 112.19 Less accrued portion (16.12) $ 96.07 DRYDEN GOVT INCOME FD INC CLA 06/30/2006 Dividend on 2,408.748 Shares $ 84.55 07/26/2006 Dividend on 2,408.748 Shares 85.34 08/28/2006 Dividend on 2,408.748 Shares 87.10 09/26/2006 Dividend on 2,408.748 Shares 72.27 09/28/2006 Dividend on 2,408.748 Shares 6.11 335.37 PNC Bank Checking account #51-4026-8474 05/16/2006 hlterest on collection $ 5.28 Less accrued portion (5.28) 0.00 PNC Bank Money Market Account #51-3021-2231 06/05/2006 hlterest $ 4.04 07/05/2006 hlterest 6.41 08/03/2006 hlterest 6.03 09/06/2006 hlterest 7.46 10/04/2006 hlterest 6.18 11/03/2006 hlterest 6.65 12/05/2006 hlterest 7.10 01/04/2007 hlterest 6.71 02/05/2007 hlterest 7.18 57.76 PNC Bank Savings account #51-3021-2231 (13) Receipts of Income (Continued) PNC Bank Savings account #51-3021-2231 06/0512006 hlterest on collection $ 2.56 Less accrued portion (2.56) $ 0.00 PNC Bank Checking Account #51-4026-8474 06/14/2006 hlterest $ 44.69 07/14/2006 hlterest 46.73 08/1412006 hlterest 47.89 0911412006 hlterest 45.86 10/1612006 hlterest 57.73 11/1412006 hlterest 65.00 12/14/2006 hlterest 67.22 01/16/2007 hlterest 74.00 02/12/2007 hlterest 60.60 509.72 Wachovia Securites Money Market account #3040-1500 05/31/2006 hlterest $ 8.71 06/30/2006 hlterest 8.45 07/26/2006 hlterest 8.80 08/31/2006 hlterest 8.89 0911912006 hlterest 5.21 09/2012006 hlterest 0.58 40.64 Total Income Collected $ 1.039.56 Total Income Received $ 1.039.56 (14) Estate of Janet M. Evans Gains and Losses on Sales or Other Dispositions of Income Net Gain No Gain or Loss $ 0.00 (15) Net Loss Date Paid Estate of Janet M. Evans Disbursements of Income Amount Paid Total Disbursements of Income $ 0.00 (16) Total Distributions of Income Estate of Janet M. Evans Distributions of Income to Beneficiaries Distribution Value $ 0.00 (17) Estate of Janet M. Evans Income Balance On Hand Inventory Value Cash and Cash Equivalents PNC Bank Money Market Account #51-3021-2231 $ 57.76 PNC Bank Checking Account #51-4026-8474 981.80 Total Cash and Cash Equivalents Total Balance on Hand (18) $ $ 1.039.56 1.039.56 Estate of Janet M. Evans Proposed schedule of distribution TO: David L. Evans (75%) Principal Income Total $119,115.86 779.67 $119,895.53 TO: Thomas D. Evans (25%) Principal Income Total $39,705.29 259.89 $39,965.18 Totals Distributed: Principal balance Income balance Total $158,821.15 1,039.56 $159,860.71 643458.1 AFFIDAVIT David L. Evans, Executor of the Estate of Janet M. Evans, Deceased, does hereby declare under oath that he has fully and faithfully discharged the duties of his office; that the foregoing First and Final Account is true and correct, and fully discloses all significant transactions occurring during the accounting period; that all known claims against the Estate have been paid in full; that, to his knowledge, there are no claims now outstanding against the Estate; that all taxes presently due from the Estate have been paid. #~l David L. Evans, Executor Sworn to and subscribed before me thiso? [?/ty of .1YJA-tcH- ,2007. &~ /lIJdkn/~ NOTARY PUBLIC MY COMMISSION EXPIRES: f/(]' cf) ~ 8- t! (/1 (SEAL) COMMONWEALTH OF PENNSYLVANIA Notarial Seal Carrie M. Barnes, Notary Public City Of Harrisburg, Dauphin County My Commission Expires Jan. 28, 2009 Member, Pennsytvania Association of Notaries