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HomeMy WebLinkAbout06-21-07 Last Will and Testament OF MILDRED A. TYRRELL I, MILDRED A. TYRRELL, of Hampden Township, Cumberland County, Pennsylvania, being of sound and disposing mind, memory and understanding, do hereby make, publish and declare this as and for my Last Will and Testament, hereby revoking and making void any and all Wills or Codicils at any time heretofore made by me. ARTICLE I DEBTS I direct that all expenses of my last illness and funeral and all legal debts be JSaid from ~ Estate as soon as practical after my death. ~ S5 ~ cn~ c: in ,.-.,. -0 ..." Z r j:;j N "\> "', ::0 ~~ C/) >-: CJgo C) .." OC ~. :0 ::u-f p ARTICLE II TANGIBLE PERSONAL PROPERTY .z::- CJ1 I give and bequeath my motor vehicles(s), household and personal effects and other tangible personalty of like nature together with any existing insurance thereon, but excluding any cash or securities, unto my daughter, PATRICE A. TYRRELL. If my daughter predeceases me, I give and bequeath the same unto my son, TIMOTHY N. TYRRELL and my grandson, MATTHEW P. TYRRELL, to be divided in kind as they may agree. If either predeceases me, then I give and bequeath the same unto the survivor. In case of disagreement between the beneficiaries as to the disposition of any item or items, my Personal Representative is authorized to make the division, having due regard for the personal preferences of the beneficiaries, but making the division in as nearly equal shares as the Personal Representative deems practical. I direct that the expense of ::- ::J: S? packing, shipping, insuring and delivering any such property to a beneficiary hereunder shall be paid from my Estate as an administrative expense. ARTICLE III REST, RESIDUE AND REMAINDER I give, devise and bequeath all the rest, residue and remainder of my Estate, of whatever nature and wherever situate, in equal shares unto my daughter, PATRICE A. TYRRELL, my son, TIMOTHY N. TYRRELL and my grandson, MATTHEW P. TYRRELL, subject to the provisions of Article IV hereafter. If any of these beneficiaries predecease me, I direct that the share of the deceased beneficiary shall pass to the surviving beneficiary or beneficiaries in equal shares, or to the surviving beneficiary, as the case may be. ARTICLE IV TRUST FOR THE BENEFIT OF MATTHEW P. TYRRELL If my son, MATTHEW P. TYRRELL, survives me and has not attained the age of forty (40) years at the time of distribution of his share, I give, devise and bequeath his share unto my daughter, PATRICE A. TYRRELL, and if she is unwilling or unable to act as Trustee, then unto my nephew, STEPHEN P. REHRER, neither being required to post bond, IN TRUST, in accordance with the following: Trustee shall hold, manage, invest and re-invest the same for the benefit of MATTHEW P. TYRRELL, and shall distribute unto the beneficiary such income and/or principal as Trustee, in her or his sole discretion, deems appropriate for his care, support, maintenance and education. In giving my Trustee this broad discretion, it is my intent to be sure that the share of my Estate for the benefit of my grandson, MATTHEW P. TYRRELL, is distributed at such times and for such purposes as my Trustee, in her or his sole judgment, deems my grandson, MATTHEW P. TYRRELL, acquire a residence, marry, have children, or pursue endeavors requiring capital investment which are worthy and sustainable. I direct that my Trustee distribute the entire balance of undistributed income and principal unto my grandson, MATTHEW P. TYRRELL, when he achieves the age of forty (40) years. If my grandson, MATTHEW P. TYRRELL, dies before receiving his final distribution of all the principal and income of this Trust, I direct that it shall be distributed unto his then-living issue, per stirpes, or as he may otherwise direct by a General Power of Appointment in his Will, or in default of either, then unto my then-living issue, per stirpes. ARTICLE V SPENDTHRIFT PROVISION I direct that the interest of the beneficiaries shall not be subject to anticipation or to voluntary or involuntary alienation. ARTICLE VI POWER TO TERMINATE SMALL TRUSTS If at any time during the continuance of any trust created under this Will, the Trustee in its sole and absolute discretion determines that the size of any individual trust has become so small as to be impractical to continue to hold property in trust and uneconomical to continue to administer as a trust, then the trustee may without further authorization distribute the balance of the principal and income in the trust to the beneficiary then entitled to the income therefrom or, considering the age and needs of the beneficiary, the beneficiary's guardian or custodian under the Pennsylvania Uniform Transfers to Minors Act or similar stat law in effect in which the minor beneficiary resides, including a custodian selected by my trustee. Upon such distribution under this section, the 3 trustee shall be released from further obligation with respect to the trust and shall not be subject to any claim from any person who may have had a future interest in the trust had the trust continued. ARTICLE VII SUCCESSOR TRUSTEE If at any time during the continuance of any trust created under this Will the trustee transfers its trust business to another entity authorized to do trust business, by merger, consolidation or reorganization, such transferee entity and its successors shall thereupon, without further transfer, substitution, act or deed succeed as trustee hereunder. A successor trustee shall be vested with all the right, title and interest in and to all trust property created under this Will, together with all the rights, powers, duties and discretion herein conferred on the original trustee. A successor trustee shall not be responsible for any act or omission of a prior trustee. ARTICLE VIII POWERS OF PERSONAL REPRESENTATIVE AND TRUSTEE My Personal Representative and Trustee shall have the following powers in addition to those vested in them by law and by other provisions of my Will applicable to all property, whether principal or income, including property held for minors, exercisable without court approval and effective until actual distribution of all property: A. To make distribution in cash or in kind, or partly in cash and partly in kind, and in such manner as they may determine. B. To retain any or all of the assets of my estate, real or personal, without restriction to investments authorized for Pennsylvania fiduciaries, as they deem proper, without regard to any principle of diversification or risk. 4 c. To invest in all forms of property without restriction to investments authorized for Pennsylvania fiduciaries, as they deem proper, without regard to any principle of diversification or risk. D. To sell at public or private sale, to exchange, or to lease for any period of time any real or personal property and to give options for sales, exchanges or leases, for such prices and upon such terms or conditions as they deem proper. E. To allocate receipts and expenses to principal or income or partly to each as they from time to time think proper. F. To compromise any claim or controversy. G. To make such elections, decisions, concessions and settlements in connection with all income, estate, inheritance, gift, generation skipping or other tax refunds and the payment of such taxes as my Personal Representative and Trustee shall deem appropriate, without obligation to adjust the distributive share of any person thereby affected. H. To combine, without prior court approval, any Trust contained in my Will with any other Trust with substantially similar provisions, although such Trust may have been created by separate instrument. 5 ARTICLE IX TAXES I direct that estate, inheritance, transfer and other taxes of a similar nature payable by reason of my death, together with interest and penalties thereon, and imposed with respect to any property, whether or not disposed of by this Will, shall be paid out of the residuary estate as an expense of administration. ARTICLE X PERSONAL REPRESENTATIVE I name, constitute and appoint my daughter, PATRICE A. TYRRELL, Executrix of this, my Last Will and Testament. If my daughter, PATRICE A. TYRRELL, fails to qualify or ceases to so act, I name, constitute and appoint my son, TIMOTHY N. TYRRELL, alternate Executor to complete the administration of my Estate. I direct that no Personal Representative appointed herein shall be required to post bond for the faithful administration of the duties required in any jurisdiction. IN WITNESS WHEREOF, I have hereunto set my hand and seal to this, my Last Will and Testament, this ~ of December, 2006. ~{~ (SEAL) 6 Signed, sealed, published and declared by the above-named Testatrix as and for her Last Will and Testament, in the presence of us, who at her request, in her presence and in the presence of each other, have hereWlto subscribed our names as ",esses. ~IO~ ~~~ o1C ./;'4-7Lv AFFIDAVIT AND ACKNOWLEDGMENT COMMONWEALTH OF PENNSYL VANIA SS. COUNTY OF CUMBERLAND We, MILDRED A. TYRRELL, alm='L 11. ~f00 and r1/,J,U..!}1- j.j. f,~<c ' the Testatrix and the tnesses, respectively, whose names are signed to the ched or foregOIng Instrument, beIng first duly sworn, do hereby declare to the undersigned authority that the Testatrix signed and executed the instrument as her Last Will and that she had signed willingly and that she executed it as her free and voluntary act for the purposes therein expressed, and that each of the witnesses, in the presence and hearing of the Testatrix, signed the Will as witness and that to the best of his /her knowledge the Testatrix was at that time eighteen years of age or older, of sound mind and under no constraint or undue influence. /r1J!J::i!::Z' w~~kKJ ~ ~LL4 ~~I,d--u :288800 7 AFFIDAVIT AND ACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF CUMBERLAND We, MILDRED A. TYRRELL, and , the Testatrix and the 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 Testatrix signed and executed the instrument as her Last Will and that she had signed willingly and that she executed it as her free and voluntary act for the purposes therein expressed, and that each of the witnesses, in the presence and hearing of the Testatrix, signed the Will as witness and that to the best of his /her knowledge the Testatrix was at that time eighteen years of age or older, of sound mind and under no constraint or undue influence. MILDRED A. TYRRELL Witness Witness Subscribed, sworn to and acknowledged before me by MILDRED A. TYRRELL, Testatrix, and subscribed and sworn to refoTe me by ~ ~ L)(I,/ G and rlfiLLlL Ii. <;.. * ' Witnesses, this ~ fb-day of r-, 2006. ~.J~ Not Public CO/\-'IV\Ot\!WE/.\lTH OF PENNSYlVANIA NOTARIAL SEAL CARLEEN S. JENSEN, Notary Public LemaYI:e Bora., Cumberland County My Commission EX .ires gl(;. 17,2007 39