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HomeMy WebLinkAbout06-01-07"COPY FAIR" LAST WILL AND TESTAMENT OF THOMAS M. WALLACE ~Op~ I, THOMAS M:~ WALLACE, of the Township of Hampden, County of Cumberland, Commonwealth of Pennsylvania, being of sound, disposing mind, memory and understanding, do hereby make, publish and declare this to be my Last Will and Testament, hereby revoking and making void any and all Wills by me at any time heretofore made. ITEM I - I devise and bequeath all of my estate, real and personal, together with all insurance thereon, to my wife, NICKOLA K. WALLACE, if she survives me by sixty (60) days. If my said wife does not survive me by sixty (60) days, I devise and bequeath all of my estate, real and personal, together with all insurance thereon, in the following manner: (A) I give my piano to my daughter, ANDREA E. WALLACE, in kind. My Trustee shall have the discretion to hold the piano for safe-keeping until my daughter shall reach the age of eighteen (18) years; (B) I give all jewelry previously owned by my wife, NICKOLA K. WALLACE, to my daughter, HALEY N. WALLACE;;,in kind. -~ _,. -. ; ;. My Trustee shall have the discretion to hold ~~~ said jewelry for safe-keeping until my daughter shad.I~:reach i~ ,~ _ the age of eighteen (18 ) years; -' _~ _ _~ .. c., (C) I give all of my violins, and one (1) car of his choice, to my son, NATHAN A. WALLACE, in kind. My Trustee shall have the discretion to hold the said assets for safe- keeping until my son shall reach the age of eighteen (18) years; (D) I devise and bequeath the remainder of my estate, real and personal, together with all insurance thereon, in equal shares to my children, ANDREA E. WALLACE, HALEY N. WALLACE and NATHAN A. WALLACE. (E) It is my desire that if I have minor children surviving me at the time of my death, they continue to live in the residence where they are living at the time of my death. Accordingly, my Trustee is authorized to retain my primary residence, together with such furniture and furnishings which are necessary or convenient for its use as the residence for my children, in kind, until such time as my youngest child reaches the age of eighteen (18) years. ITEM II - If any beneficiary of my estate is under the age of thirty (30) years at the time at which distribution of any property devised or bequeathed by this Will would otherwise be made to such beneficiary, my personal representative shall distribute the share of such beneficiary to the Trustee herein named, to be held in separate trust for such beneficiary. The Trustee shall hold, manage, invest and reinvest any property received by the Trustee, - 2 - whether under this Will or otherwise, and shall collect the income thereof, and shall apply so much of the net income and, if the net income is insufficient, so much of the principal of the property held for such beneficiary as the Trustee shall deem necessary or advisable for such beneficiary's health, maintenance, support and complete education, both undergraduate and graduate. When the beneficiary obtains the age of twenty-four (24) years, the Trustee shall distribute to such beneficiary one-third of all property held by the Trustee for such beneficiary. When such beneficiary attains the age of twenty-seven (27) years, the Trustee shall distribute to such beneficiary one-half of all property held by the Trustee for such beneficiary. When such beneficiary attains the age of thirty (30) years, the Trustee shall distribute to such beneficiary all remaining property held by the Trustee for such beneficiary. If such beneficiary dies before obtaining thirty (30) years of age, the Trustee shall distribute to the personal representative of such beneficiary's estate all property held by the Trustee for such beneficiary. ITEM III - All shares of principal and income hereby given shall be free from anticipation, assignment, pledge or obligation of the beneficiaries and any of them, and shall not be subject to any execution, attachment, levy or sequestration or other claim of creditors of said beneficiaries or any of them. - 3 - ITEM IV - No fiduciary under this Will shall be required to give bond or other security for the faithful performance of the fiduciary's duties. Any such fiduciary shall have the following powers, in addition to those given by law: A. To invest in, accept and retain any real or personal property, including stock of a corporate fiduciary or its holding company, without restriction to legal investments; B. To sell, exchange, partition or lease for any period of time any real or personal property and to give options therefor for cash or credit, with or without security; C. To borrow money from any person, including any fiduciary acting hereunder, and to mortgage or pledge any real or personal property; D. To hold shares of stock or other securities in nominee registration form, including that of a clearing corporation or depository, or in book entry form or unregistered or in such other form as will pass by delivery; E. To engage in litigation and compromise, arbitrate or abandon claims; F. To make distribution in cash, or in kind at current values, or partly in each, allocating specific - 4 - assets to particular distributees on a non-pro rata basis, and for such purposes to make reasonable determinations of current values; and G. To make elections, decisions, concessions and settlements in connection with all income, estate, inheritance, gift or other tax returns and the payment of such taxes, without obligation to adjust the distributive share of income and principal of any person affected thereby. ITEM V- I appoint my wife, NICKOLA K. WALLACE, Executrix of this Will. If my said wife is unwilling or unable to act or continue to as Executrix, for any reason whatsoever and whether before or after my death, I appoint DENNIS J. SHATTO, successor Executor. ITEM VI - I appoint WAYNE LOGUE, currently of American Express Financial Services, Trustee under this Will. If MR. LOGUE is unwilling or unable to act or continue as Trustee, for any reason whatsoever and whether before or after my death, I appoint FIRST UNION NATIONAL BANK, successor Trustee. ITEM VII - I appoint my wife's niece, LYNETTE GREENS and her husband, JOHN GREENS, of Mechanicsburg, Pennsylvania, or the survivor of them, guardians of the person of each minor child of mine for whom I am entitled to appoint a guardian of the person. - 5 - IN WITNESS WHEREOF, I have hereunto set my hand and seal to this my Last Will and Testament, this ~_ day of DG~bI?Git, 2 0 0 0 . ~ ~d'+?c,(/L._„ (SEAT,) THOMAS M. WALLACE Signed, sealed, published and declared by the above Testator, THOMAS M. WALLACE, to be his Last Will and Testament, in our presence, who, at his request, in his presence and in the presence of each other, we, believing him to be of sound mind, memory and understanding, have hereunto subscribed our names as witnesses. mot- ~2 l o f _~~.%~ri ~ ~. ,o h dr r /.a - 6 - COMMONWEALTH OF PENNSYLVANIA SS. COUNTY OF DAUPHIN We, THOMAS' /M. WALLLACE/ Testator, and oi°/In/.S v . ~ S~J~ ~Cd , witnesses, respectively, whose names are signed to the attached or foregoing instrument, being first duly sworn, do hereby declare to the undersigned authority that the Testator signed and executed the instrument as his Last Will and Testament and that he had signed willingly, and that he executed it as his free and voluntary act for the purposes therein expressed, and that each of the witnesses, in the presence and hearing of the Testator, signed the Will as witnesses and that to the best of their knowledge, the Testator was at that time eighteen (18) years of age or older, of sound mind and under no constraint or undue influence. THOMAS M. WALLACE - Testator ~, Subscribed, sworn to and acknowledged before me by THOMAS M. WALLACE, the Testator, and subscribed and sworn/ to before me by L/i~ ola /~/. /~Gt ~UiIG and/ ~C~ ~i~s (/ ~S`I a t~c~~ witnesses, this ~~'~i day of D~~d,6~/ 2000. ' ~/X~7r NOTARY UBLIC Notarial Seal Jenny A. Tobias, Notary Public Warrfsburg, Dauphin County My Commission Expires Feb. 15, 2001