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HomeMy WebLinkAbout07-06-07 JI, ... r . . ;) 1'- Of.t - 0'173 . ,..., C, C)" FAMILY SETTLEMENT AGREEMENT ~'~ ~ ,)J -0 c: '1:C0 r- THIS AGREEMENT, made this~daY of .d.~~,,-j-~~JibY ~ and between George R. Zaiser of Mechanicsburg, Pennsylvania; Fr~Z~iB~f ~ Jacksonville, Florida; Cynthia Gustafson of San Diego, California; and Jeffrey M~ser ~ of Hong Kong, China. ]Z --j ~ (") WHEREAS, the parties hereto are surviving nieces and nephews and the beneficiaries of the Estate of Elizabeth P. Zaiser; and WHEREAS, George R. Zaiser was named Executor under the Last Will and Testament of Elizabeth P. Zaiser; and WHEREAS, the said Executor has caused an Inheritance Tax Return, in the form attached hereto as Exhibit "A," incorp~rated herein by reference and made a part hereof, to be du1y prepared for filing with the Register of Wills of Cumberland County, Pennsylvania, which return reflects all assets of the Decedent known to the said Executor excepting income to the Estate and all debts of the Decedent known to him excepting inheritance and income tax obligations of the Decedent and the Estate; and NOW THEREFORE, INTENDING TO BE LEGALLY BOUND, the parties hereto agree as follows: 1. The rest, residue and remainder of the property, real, personal and mixed shall be distributed upon complete execution hereof, pursuant to the Last Will and Testament of Elizabeth P. Zaiser as follows: (a) To Frederick W. Zaiser, (33 1/3%) of the residual estate; (b) To Cynthia Gustafson, (33 1/3%) of the residual estate; (c) To George R. Zaiser, (16 2/3%) of the residual estate; (d) To Jeffrey M. Zaiser, (16 2/3%) of the residual estate; 2. Each of the parties hereto acknowledges notice, that pursuant to the laws of the Commonwealth of Pennsylvania, such party is entitled to the filing of an accounting wi$ the Court of Common Pleas of Cumberland County, Orphan's Court Division, by which the Executor, by sworn statement and affidavit, verifies the assets received by him in administering the Estate and the expenses incurred in connection with its administration. Notwithstanding such notice, and in the interest of economy and conservation of Estate assets, each of the parties hereto waives and relinquishes such party's right to require such accounting and hereby releases and discharges the Executor from any and all claims, demands or liability of any kind or character relating to or arising from the failure to tile such accounting, it being the intention of all parties hereto that no such accounting shall be filed. "::0 ::0 r"1"l rIle:> G)C) ,...,u ~:'-I C:J (,'"I ,....,.", :ij C.J ,")C-, -'i i -11 --'1 n ,__ fTl <../)C) .1 . ~ .. ' ... ro\ 3. This Agreement relates to an Estate being administered in Pennsylvania, and to a Decedent of the Commonwealth of Pennsylvania. Accordingly, this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. 4. This Agreement shall be binding upon the parties hereto, their heirs, successors and assigns. 5. This Agreement shall be legally effective and legally binding whether the original hereof is signed in counterpart by the parties hereto. IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first written above. Executor George R. Zaiser ~r ~~f> / Frederick W. Zaiser Cynthia Gustafson Jeffrey M. Zaiser , FAMILY SETTLEMENT AGREEMENT THIS AGREEMENT, made this~y of L~2006, by and between George R Zaiser of Mechanicsburg, Pennsylvania; F~ Zaiser of Jacksonville, Florida; Cynthia Gustafson of San Diego, California; and Jeffrey M. Zaiser of Hong Kong, China. WHEREAS, the parties hereto are surviving nieces and nephews and the beneficiaries of the Estate of Elizabeth P. Zaiser; and WHEREAS, George R Zaiser was named Executor under the Last Will and Testament of Elizabeth P. Zaiser; and WHEREAS, the said Executor has caused an Inheritance Tax Return, in the form attached hereto as Exhibit "A," incorporated herein by reference and made a part hereof, to be duly prepared for filing with the Register of Wills of Cumberland County, Pennsylvania, which return reflects all assets of the Decedent known to the said Executor excepting income to the Estate and all debts of the Decedent known to him excepting inheritance and income tax obligations of the Decedent and the Estate; and NOW THEREFORE, INTENDING TO BE LEGALLY BOUND, the parties hereto agree as follows: 1. The rest, residue and remainder of the property, real, personal and mixed shall be distributed upon complete execution hereof, pursuant to the Last Will and Testament of Elizabeth P. Zaiser as follows: (a) To Frederick W. Zaiser, (33 1/3%) of the residual estate; (b) To Cynthia Gustafson, (33 1/3%) of the residual estate; (c) To George R. Zaiser, (162/3%) of the residual estate; (d) To Jeffrey M. Zaiser, (16 2/3%) of the residual estate; 2. Each of the parties hereto acknowledges notice, that pursuant to the laws of the Commonwealth of Pennsylvania, such party is entitled to the filing of an accounting with the Court of Common Pleas of Cumberland County, Orphan's Court Division, by which the Executor, by sworn statement and affidavit, verifies the assets received by him in administering the Estate and the expenses incurred in connection with its administration. Notwithstanding such notice, and in the interest of economy and conservation of Estate assets, each of the parties hereto waives and relinquishes such party's right to require such accounting and hereby releases and discharges the Executor from any and all claims, demands or liability of any kind or character relating to or arising from the failure to file such accounting, it being the intention of all parties hereto that no such accounting shall be filed. , 3. This Agreement relates to an Estate being administered in Pennsylvania, and to a Decedent of the Commonwealth of Pennsylvania. Accordingly, this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. 4. This Agreement shall be binding upon the parties hereto, their heirs, successors and assigns. 5. This Agreement shall be legally effective and legally binding whether the original hereof is signed in counterpart by the parties hereto. IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first written above. -c~~ Executor George R. Zaiser Frederick W. Zaiser 0~xJ\J:A ~lu\t r Cynthia Gustafson Jeffiey M. Zaiser 1 FAMILY SETTLEMENT AGREEMENT THIS AGREEMENT, made this~y of 4..,~2006, by and between George R. Zaiser of Mechanicsburg, Pennsylvania; Fr~Zaiser of Jacksonville, Florida; Cynthia Gustafson of San Diego, California; and Jeffrey M. Zaiser of Hong Kong, China WHEREAS, the parties hereto are surviving nieces and nephews and the beneficiaries of the Estate of Elizabeth P. Zaiser; and WHEREAS, George R. Zaiser was named Executor under the Last Will and Testament of Elizabeth P. Zaiser; and WHEREAS, the said Executor has caused an Inheritance Tax Return, in the form attached hereto as Exhibit "A," inco~rated herein by reference and made a part hereof, to be duly prepared for filing with the Register of Wills of Cumberland County, Pennsylvania, which return reflects all assets of the Decedent known to the said Executor excepting income to the Estate and all debts of the Decedent known to him excepting inheritance and income tax obligations of the Decedent and the Estate; and NOW THEREFORE, lNTENDlNG TO BE LEGALLY BOUND, the parties hereto agree as follows: 1. The rest, residue and remainder of the property, real, personal and mixed shall be distributed upon complete execution hereof, pursuant to the Last Will and Testament of Elizabeth P. Zaiser as follows: (a) To Frederick W. Zaiser, (33 1/3%) of the residual estate; (b) To Cynthia Gustafson, (33 1/3%) of the residual estate; (c) To George R. Zaiser, (162/3%) of the residual estate; (d) To Jeffiey M. Zaiser, (16 2/3%) of the residual estate; 2. Each of the parties hereto acknowledges notice, that pursuant to the laws of the Commonwealth of Pennsylvania, such party is entitled to the filing of an accounting wi$ the Court of Common Pleas of Cumberland County, Orphan's Court Division, by which the Executor, by sworn statement and affidavit, verifies the assets received by him in administering the Estate and the expenses incurred in connection with its administration. Notwithstanding such notice, and in the interest of economy and conservation of Estate assets, each of the parties hereto waives and relinquishes such party's right to require such accounting and hereby releases and discharges the Executor from any and all claims, demands or liability of any kind or character relating to or arising from the failure to file such accounting, it being the intention of all parties hereto that no such accounting shall be filed. '" :t 3. This Agreement relates to an Estate being administered in Pennsylvania, and to a Decedent of the Commonwealth of Pennsylvania. Accordingly, this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. 4. This Agreement shall be binding upon the parties hereto, their heirs, successors and assigns. 5. This Agreement shall be legally effective and legally binding whether the original hereof is signed in counterpart by the parties hereto. IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first written above. /~ Executor George R Zaiser Frederick W. Zaiser Cynthia Gustafson J!Ic; ~~" , Jeffrey M. Zaiser