HomeMy WebLinkAbout03-29-07
REV-1500 EX (5-00)
OFFIC1Al USE ONLY
COMMONWEALTH OF
PENNSYlVANIA
DEPARTMENT OF REVENUE
DEPT. 280601
HARRISBURG, PA 17128-0601
REV-1500
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
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COlMTY CODE
~L 0994 ___
YEAR i'lJMBER
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DECEDENl'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
Krahu1ec James
DATE OF DEATH (MM-DD-YEAR) DATE OF BIRTH (MM-DD-YEAR)
8/29/2006 5/7/1946
(IF APPLICABLE) SURVNlNG SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
Krahu1ec, Marianne F.
[i] 1. Original Return
D 4. Limited Estate
[i] 6. Decedent Died Testate (Attach copy of Will)
D 9. Litigation Proceeds Reeeived
E
SOC~LSECURITYNUMBER
344-36-9330
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
SOC~LSECURITYNUMBER
124-38-4003
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D 2. Supplemental Return D 3. Remainder Return (date of death prior to 12-13-82)
D 4a. Future Interest Compromise (date of death after 12-12-82) D 5. Federal Estate Tax Return Required
D 7. Decedent Maintained a LMng Trust (Attach copy of Trust) L 8. Total Number of Safe Deposit Boxes
D 10. Spousal Poverty Credit (dale of dealh between 12.31.91 and 1.1.95) D 11. Election to tax under See. 9113(A)(A1tachSchO)
NAME
Stan1e A. Smith, Es ire
FIRM NAME (If Applicable)
Rhoads & Sinon LLP
TELEPHONE NUMBER
717-233-5731
COMPLETE MAILING ADDRESS
PO Box 1146
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Harrisburg PA 17108-1146
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1. Real Estate (Schedule A)
(1)
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2. Stocks and Bonds (Schedule B)
(2)
3. Closely Held Corporation, Partnership or SoIe-Proprietorship (3)
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4. Mortgages & Notes Receivable (Schedule D)
5. Cash, Bank Deposits & Miscellaneous Personal Property
(Schedule E)
(4)
(5)
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6. J~ Owned Property (Schedule F)
U Separate Billing Requested
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (7)
(Schedule G or L)
(6)
0',)
1,183,642.98
8. Total Gross Assets (total Lines 1-7)
(8)
1,382,257.34
9. Funeral Expenses & Administrative Costs (Schedule H) (9)
0.00
0.00
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) (10)
11. Total Deductions (total Lines 9 & 10)
(11)
0.00
12. Net Value of Estate (Line 8 minus Line 11)
13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been
made (Schedule J)
(12)
1,382,257.34
(13)
0.00
14. Net Value Subject to Tax (Line 12 minus Line 13)
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
(14)
1,382,257.34
15. Amount of Line 14 taxable at the spousal tax 1,382,257.34 L(15)
z rate, or transfers under See. 9116 (a)(1.2) X.O
0
j:: 16. Amount of Line 14 taxable at lineal rate 0.00 x.o ~(16)
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D. 17. Amount of Line 14 taxable at sibling rate x.12 (17)
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0 0.00
U 18. Amount of Line 14 taxable at collateral rate x .15 (18)
x
c( 19. Tax Due
... (19)
0.00
0.00
0.00
0.00
0.00
20. D
CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
> > ..-€ 'ID ANSWER ALL QUE8~.REVERSE SIDE AND RR....illAlH < <
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3W4645 1.000
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Decedent's Com lete Address:
SlREET ADDRESS
781 Do ood Terrace
Cumberland
CITY
Boilin
s
STATE
PA
ZIP
17007-9632
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
0.00
0.00
0.00
0.00
3. Interest/Penalty if applicable
D. Interest
E. Penalty
Total Credits (A + B + C) (2)
0.00
0.00
0.00
Total Interest/Penalty (D + E) (3)
0.00
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 1 Line 20 to request a refund
(4)
0.00
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE.
(5)
0.00
A. Enter the interest on the tax due.
(SA)
0.00
0.00
1. Did decedent make a transfer and:
a. retain the use or income of the property transferred;. . . . . . . . . . . . . . .
b. retain the right to designate who shall use the property transferred or its income; .
c. retain a reversionary interest; or . . . . . . . . . . . . . . . . . . . . . . . .
d. receive the promise for life of either payments, benefits or care? . . . . . . . . .
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? . . . . . . . . . . . . . . . . . . . . . . . . . . .. D
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? D
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . " Ii] D
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
Yes
No
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ADDRESS
Rhoads
DATE
Harrisburg PA 17108-1146
DATE
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For dates of death on or after July 1, 1994 and before January I, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3%
[72 P.S. ~ 9916 (a) (1.1) (i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value oftransfers to or for the use ofthe surviving spouse is 0% [72 P.S. ~ 9116 (a) (1.1) (ii)]
The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax retum are st~1 applicable even if
the surviving spouse is the only beneficiary.
Harrisburg PA 17108-1146
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased ch~d twenty..one years of age or younger at death to or for the use of a natural parent, an adoptive parent,
or a stepparent ofthe ch~d is 0% [72 P.S. ~ 9116(a)(1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5%, except as noted in 72 P.S. ~ 9116(1.2) [72 P.S. ~9116(a)(I)].
The tax rate imposed on the net value oftransfers to or for the use ofthe decedent's siblings is 12% (72 P.S. ~ 9116(a)(1.3)]. A sibling is defined, under Section 9102, as an
individual who has at least one parent in common with the decedent, whether by blood or adoption.
3W4646 1.000
Estate of
Executors (Page 1)
344-36-9330
Name
Address
Tax ID
Marianne F. Krahulec
781 Dogwood Terrace
Boiling Springs, PA 17007-9632
124-38-4003
REV-1503 EX + (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
SCHEDULE B
STOCKS & BONDS
FILE NUMBER
James E. Krahulec
21 06 0994
All property jolntly-owned with right of survivorship must be disclosed on Schedule F.
ITEM
NUMBER
DESCRlPllON
VAlUE AT DATE
OF DEATH
1.124,858 Shares
Rite Aid Stock Options - Vested
68,371. 60
2
1,074 Shares
Rite Aid Corp Common
CUSIP: 767754104
4,628.94
3W4696 1000
TOTAL (Also enter on line 2, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
73,000.54
REV-l508 EX. (6-98)
COMMONWEALTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
ESTATE OF
James E. Krahulec
ITEM
NUMBER
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jolntly~ned with the right of survivorship must be disclosed on Schedule F.
FILE NUMBER
21 06 0994
DESCRIPTION
VALUE AT DATE
OF DEATH
1
Wachovia IRA Account #4882-6981
Owner: James E. Krahulec
Beneficiary: Marianne F. Krahulec
123,648.33
2
Accrued wages from Rite Aid
1,965.49
3W46AO 1.000
TOTAL IAlso enter on line 5 Recaoitulationl $
(If more space is needed. insert addttional sheets of the same size)
125,613.82
REV-1510 EX + (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
James E. Krahu1ec
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
FILE NUMBER
21 06 0994
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes.
DESCRJPTlON OF PROPERTY
ITEM II'CUIlE TIE N<\ME OF TIE TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AK) DATE OF DEATH "IoOF DECO'S EXCLUSION TAXABLE
NUMBEF TIE DATEOF1RANSFER ATTACH A COPY OF TtE DEED FOR REAL ESTATE. VALUE OF ASSET INTEREST (IF APPLICABLEl VALUE
1. Rite Aid 401(k) Account
OWner: James F. Krahu1ec
Beneficiary: Marianne F.
Krahulec 439,398.98 100.0000 0.00 439,398.98
2 Rite Aid Supplemental Executive
Retirement Plan
Beneficiary: Marianne F.
Krahu1ec 744,244.00 100.0000 0.00 744,244.00
TOTAL (Also enter on line 7, Recapitulation) $ 1,183,642.98
(If more space Is needed, insert additional sheets of the same size)
3W46AF 1.000
REV-1513 EX+ (9-00)
SCHEDULE J
BENEFICIARIES
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
James B. Krahulec
FILE NUMBER
21 06 0994
NUMBER
I
1
NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY
TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers
under Sec. 9116 (a) (1.2)]
Marianne F. Krahulec
781 Dogwood Terrace
Boiling Springs, PA 17007
RELATIONSHIP TO DECEDENT
Do Not List Trustee(s)
AMOUNT OR SHARE
OF ESTATE
100% of Residue: 1,382,257.34
Surviving Spouse
1,382,257.34
ENTER DOllAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
II NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAl DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
B. CHARITABlE AND GOVERNMENTAl DISTRIBUTIONS
3W46All.000
TOTAL OF PART II. ENTER TOTAl NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET
(If more space is needed, insert additional sheets of the same size)
$
0.00
8/15/84
LAST WILL AND TESTAMENT
OF
JAMES EUGENE KRAHULEC
I, James Eugene Krahulec, residing at 781 Dogwood Terrace
in the Township of Monroe, County of Cumberland, and Commonwealth
of Pennsylvania, being of sound mind, memory and understanding, do
hereby make, publish and declare this as and for my Last Will and
Testament, and I do hereby revoke all Wills and Codicils heretofore
. made by me.
FIRST
I direct that all my just debts and funeral expenses be paid
as soon as conveniently practicable after my death, except that any
debt secured by a mortgage, pledge, or similar encumbrance on
property owned by me at my death shall be paid by my estate at the
sole discretion of my executor.
SECOND
give and bequeath, absolutely and forever, any automobiles
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Marianne Krahulec, if she shall be surviving thirty (30) days after my
death. Should my wife not then be surviving, I give and bequeath the
aforesaid property to all of my children absolutely and forever, or the
survivor of them to be divided among them as they shall agree or in
the absence of such agreement, in equal shares, as my executor shall,
in his discretion, determine.
THIRD
All the rest, residue and remainder of my estate, real,
personal, and mixed of whatsoever the same may consist and
wheresoever the same may be situate, including the lapsed legacies and
any property over which I may now or hereafter have the power of
appointment or other disposition, I give, devise and bequeath to my
wife, Marianne Krahulec, absolutely and forever, if she survives me,
and if not, I give, devise and bequeath all of such rest, residue and
remainder of my estate to all of my children in equal shares, absolutely
and forever. Should any of my said children predecease me, then
his or her respective share shall pass to his or her lawful issue, if
any, per stirpes, and if there be none, then such share shall pass to
my remaining child or children, if there be any, and if not, then to the
lawful issue, if any, per stirpes, of any such children; and if there be
none, then to my heirs at law and next of kin as provided by the
intestacy laws of the state of my residence in force at the date of my
death.
FOURTH
Anything in this, my Last Will and Testament, to the contrary
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hereunder shall be held in trust for his benefit during his minority,
and my trustees shall pCly or apply for the benefit of such minor so
much of the income and principal of his trust as may be deemed
necessary and proper by my trustees, in their sole discretion, for such
minoris support, maintenance, education, and health, and shall
distribute, absolutely and outright, the full balance of principal and
undistributed income of the trust to such minor upon his attaining the
age of twenty-one years. In the event such minor shall die prior to
attaining the age of twenty-one years, the balance of the trust created
for such minor shall be distributed, absolutely and outright, to his
then living lawful issue, if any, per stirpes, and if there be none,
then to his brothers and sisters equally, if any, and if there be none,
to his heirs at law and next of kin as provided by the intestClcy laws of
the state of my residence in force at the date of my death.
FIFTH
In the event of the minority or incompetency of any of the
beneficiaries herein named, my executors and trustees, in their
discretion, are hereby authorized and empowered to make whatever
income, principal, or other distribution of property of whatever
character, to which such beneficiary may be entitled, directly to such
beneficiary, or to the person or persons having the care or custody of
such b~neficiary, or to such beneficiary's lawful or natural guardian,
or may apply said distributions in behalf of such beneficiary and in
such cases my executors and trustees shall not be required to see to
the Clpplication of Clny distribution made by virtue of the authority
herein contained and the evidences of such payments or a receipt for
such payment or distribution, signed by the legal guardian, or either
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SIXTH
If both my wife, Marianne Krahulec, and I should die under
such circumstances that it cannot be accurately ascertained which of us
predeceased the other, then in such event, it shall be conclusively
presumed that my said wife survived me.
SEVENTH
I direct that the foregoing provisions for my said wife,
Marianne Krahulec, be taken and accepted by her in lieu and bar of all
dower and right of dower or other right in my estate.
EIGHTH
I direct that all transfer, inheritance, legacy, succession and
other taxes, including State and Federal, which may be assessed or
imposed upon the transfer of any property under this Will, or upon
property which may be part of my taxable estate for the purpose of any
such tax shall be paid out of my residuary estate; and no devisee,
legatee,:, donee, transferee or insurance beneficiary, shall be required
to payor contribute to the payment of the same.
NINTH
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TENTH
Wherever the words "executrix", "executor", "executors",
"trustee", or"trustees" are used herein, they shall be construed to
mean executors, executor, executrix, trustees, trustee, and the
survivor or survivors of them, and their successor or successors in
office.
ELEVENTH
As used herein, each of the masculine, feminine or neuter
genders shall include the other genders, the singular shall include the
plural, and the plural shall include the singular, wherever appropriate
to the context.
TWELFTH
I hereby nominate, constitute and appoint my wife, Marianne
Krahulec, executrix of this, my Last Will and Testament. Upon death,
resignation, incapacity , or failure to qualify of my said wife, Marianne
Krahulec'~ I hereby nominate, constitute, and appoint David Tichi of
Camp Hill, Pennsylvania, executor in her place and stead, with the
same powers as executor, as are herein conferred upon my original
executrix. Upon death, resignation, incapacity, or fai lure to qualify of
David Tichi, I hereby nominate, constitute, and appoint Charles Jensik
of Boiling Springs, Pennsylvania, executor in his place and stead. with
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hereunder created. Upon the death, resignation, incapacity or failure
to qualify of said Lynda Frances Krahulec,
hereby nomi nate,
constitute, and appoint M. Andrew Simo and Cherie Simo as successor
guardian and trustee, in her place and stead, with the same powers as
successor guardian and trustee, as are herein conferred upon my
original trustee.
I direct that none of my executors or my trustees appointed
under this Will, nor any successor, executor, or my trustees howsoever
appointed, shall be required to furnish any bond or security in any
jurisdiction in which he, she, or they may be called upon to act.
IN WITNESS WHEREOF, I have hereunto set my hand and seal
this 15th day of August, 1984, in the year One Thousand Nine Hundred
and Eighty-four.
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THE FOREGOING WILL, consisting of six (6) typewritten
pages', including this page, each page identified by the signature of the
testator, was signed, sealed, published and declared by the said
testator, James Eugene Krahulec, as and for his Last Will and
Testament, in the presence of us, who, in his presence, at his
request, and in the presence of each other, all being present at the
same time, have hereunto subscribed our names as witnesses.
NAME
ADDRESS
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THE RITE AID 401 (K) PLAN
c/o T. Rowe Price, PO Box 17349
Baltimore MD 21297-1349
~
0122 James E Krahulec
781 Dogwood Ter
Boiling Sprgs PA 170079632
69-0010782-A-l1
Account At a Glance
Beginning Balance
+ Cash In
- Cash Out
+ Gain/Loss
Ending Balance
+ Outstanding Loan Balance
Total Account Value
Change this Period
$439,398.98
$0.00
$0.00
$29,917.97
$469,31 &.95
$4,042.23
$473,359.18
$29,917.97
a
r Left the company? Whether you retired or moved to another job,
you'll need to decide what to do with your retirement account. You have
several choices, each with very different tax considerations. For help with
this important financial decision, call the T. Rowe Price Retirement
Specialists at 1-888-445-4226.
Estimated Monthly Income at Retirement
-
--
-
-
-
-=
-
iii!!
Are you saving enough to meet your retirement goals? The estimate
below is based on your current savings amounts and years to
retirement This estimate may not illustrate a comprehensive analysis
of your situation. Log on to rpS./rowBprice.com and click on Power
Tools for a more in-depth analysis.
i:~~~~.:'~2't:~,::~'~~~~~c:_~'~.~2]~;~
These figures are calculated using your current account value of $473,359,
your contributions of $0 made by you and/or your employer over the last 12
. months, and your age. Assumptions: Retirement age of 65 (30-year-Iong
retirement), 8% annual return, 3% inflation rate, withdrawal rate in first year of
4%. Estimates are in today's dollars. Taxes are due upon withdrawal. For
illustrative purposes only. The amount shown is not guaranteed.
105483-010782-070109
Page 10f7
James E Krahulec
Retirement Account Summary
October 1, 2006 to December 31, 2006
Review your account online: www.rps.troweprice.com or call:
1-800-922-9945.
Please review your statement and report any errors to T. Rowe
Price within 60 days.
Asset Allocation
II 95.2% Stocks
II 3.0% Bonds
II 1.8% Company Stock
Percentages are rounded
Asset Allocation shows how the money you've previously invested is
distributed over different investment categories.
Future Investments (shown in subsequent modules) shows how any new
contributions will be distributed.
About Your Retirement Plan
New design makes it easier than ever to view and manage your
account online I
The myRetlrementPlan Web site has been updated to bring the most
popular site features and more of your account detail to the homepage.
Here you will find account analysis along with powerful planning tools
and calculators. The site also provides you with easy access to
important plan information, retirement education, and investing tips.
Log on to rps.troweprice.com today and check it out.
TRoweftIce "
INVEST WITH CONFIDENCE:
IillIJ
q:J
Rite Aid Corporation
8eneffls Department
30 Hunter Lane
Camp Hill, PA 17011
Phone 717.730.8307
Fax 717.975.5933
October 17, 2006
Ms. Marianne Krahulec
781 Dogwood Terrace
Boiling Springs, PA 17007-9632
Dear Ms. Krahulec,
First, may I share my condolences to you and your family for your loss.
The purpose of this letter is to provide you certain information related to the benefit
payable from Mr. Krahulec's Supplemental Executive Retirement Plan ("SERpn). As
you know, I have been in discussion with your daughter, Mindy, on this matter, and
continue those conversations.
Your late husbands SERP account is now fully vested and payable to you over a 15
year period. Because it is now vested, it is immediately subject to social security and
medicare taxes ("FICg).
Our actuaries have determined the present value of the full stream of benefit payments
in order to determine the taxes owed. Because Mr. Krahulec had earned in excess of
the social security tax wage base for 2006, there is no further tax due for that portion of
FICA. Since the medicare tax portion of FICA does not have a wage base limit the
FICA tax of 1.45% must be applied.
You must pay the medicare portion of the FICA tax now. Going forward the bi-weekly
payment from this benefit will have NO FICA taxes withheld.
The FICA (medicare portion only) taxes due are $10,791.54. Here is how this is
calculated:
Net present value of SERP payment stream
Your portion of FICA due
$ 744,244.00
$ 10,791.54
(a)
(a) Since the Social Security Wage Base was previously met in 2006, only the
Medicare tax liability at 1.45% applies to the net present value of $744,244.
Please remit to Rite Aid $10,791.54 to satisfy this withholding amount due.
Please make the check payable to:
Rite Aid Corporation
Attn: Payroll Tax Department
200 Newberry Commons
Etters, PA 17319
Upon your remittance of the amount noted above, we will be able to make all future
SERP payments free of FICA taxes.
H:\HRlSharedIBenefdslRETIREMENTlAssociale CommunicalionsUndividual LellerslSERPlJames KrahuJac 09-30~2006.doc
Ms. Marianne Krahulec
October 17, 2006
Page Two
Should have any questions, please contact Brian Moul at (717) 730-8353 or me at
(717) 730-8307.
Sincerely,
Chuck Carlsen, CESS
Senior Director, Retirement Benefits
Enclosures: Mercer letter dated 9/25/2006
Cc: Ken Black
Theresa Nichols
Jay Linsey
Brian Moul
2 Rite Aid Corporation
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RHOADS ~
& SINON LLP
Shawn D. Funk
ph (717) 231-6671
fx (717) 232-1459
sfunk@rhoads-sinon.com
FILE NO 7903/02
March 28, 2007
Re:
Estate of James E. Krahulec
File No.: 21-06-0094
Ms. Glenda Farner-Strasbaugh
Register of Wills
Cumberland County Courthouse
One Courthouse Square
Carlisle, PA 17013-3387
VIA CERTIFIED MAIL
Dear Ms. Farner-Strasbaugh:
Enclosed are the following in connection with the above-captioned Estate:
1. Pennsylvania Inheritance Tax Return, in duplicate showing no tax due.
2. Two (2) original Inventory documents. Please date stamp one and return it to us in
the enclosed envelope.
3. A check in the amount of$30.00 to cover the filing fee for the return and Inventory.
4. A copy of this letter, with the first page of Return attached, which we ask that you
date stamp and return it to us in the enclosed envelope.
Enclosures
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Rhoads &: Sinon LLP . Attorneys at Law. Twelfth Floor. One South Market Square. P.O. Box 1146
Harrisburg, PA 17108-1146 · ph (717) 233-5731 · fx (717) 232-1459 . www.rhoads-sinon.com
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