The URL can be used to link to this page

Home My WebLink About07-06-07 I ESTATE OF MARY S. KANN ,...., (") g ~o -.I =-,- ::0 C- , ~:J U c: rAM1L Y SETTLEMENT AGREEMENT 'd ~p r;- TIllS AGREEFNT made tlri.f')~ day of ~ ~~~ 20i I ~ BETWEEN: ~OYD D. KANN and KATHRYN E. BOWERS-: being *e File No. 21-06-0798 , , legatees under the L~t Will and Testament of Mary S. Kann, late of the Township of i Penn, Cumberland Co~ty, Pennsylvania, i i I i BOYD D. KAtm, Executor of the Estate under the Last Will and Testament of I Mary S. Kann, deceas1d, WHEREAS, ~ary S. Kann died August 23,2006, testate, and under her Will left her estate to the Partie~ herein; and WHEREAS, ~etters Testamentary were granted to Boyd D. Kann on September 13,2006, by the Register of Wills of Cumberland County, Pennsylvania; and ! AND WHEREAS, ~l assets of the late Mary S. Kann have been liquidated or distributed and all he~ debts paid in full, and further the period of four months having been terminated sinc the first advertisement of the issuance of Letters to the said Executor, the said pies hereto desire to waive the duty of the Executor to file a First and with Proposed Schedule of Distribution for purposes of confirmation by the ourt of Common Pleas of Cumberland County, Orphan's Court Division, AND FURTHER desire that a Family Settlement Agreement be WEIGLE & ASSOCIATES. Rci. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG. PA 17257-1397 ". ." :J[J ::0 ,.-n ITl '-""') G)O "-:;0 ~-~ f:J f.f'.t (r-., :;.'j C,J ("'")CJ --,l --1'1 _on ~ ~ i~:~ C/") J " executed, which Family Settlement Agreement will be duly recorded among the deed. records in and for C~berland County. NOW, THEREFORE, WITNESSETH, that the parties hereto, in consideration of the premises above stated, and of the Accounting and Proposed Schedule of Distribution attached hereto and 11\1ade a part hereof, and the receipt of their distributive shares as therein shown, do bin~ themselves to the said Distribution and Accounting as set forth and further mutually Irelease Boyd D. Kann, Executor, from all claims and demands whatsoever arising ou~ of settlement of the Estate of Mary S. Kann. I The parties he~to do further agree that should any liability come due to the estate I of the said decedent .fter the signing of this agreement, they do hereby covenant and I agree with the afore~d personal representative that they will contribute pro rata their I shares of the estate t$ satisfy any and all claims, demands, suits, or causes of action which may be succes$fully prosecuted against the said estate or the aforesaid personal representative after th~ signing, sealing and delivery of this family settlement agreement and final release. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first abo~e written. ~:d.;J ~ (SEAL) Boyd . ann ~(' ~ (SEAL) Kathryn . Bowers WEIGLE & ASSOCIATES. Rq. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG. PA 17257-1397 COMMONWEALTH ~F PENNSYLVANIA SS COUNTY OF CUMB'RLA~ On this, the ~ /3 ~ day of ~ ,2007, before me, the undersi$ned officer, personally appeared BOYD D. KANN, known to me (or satisfactorily provfn) to be the person whose name is subscribed to the within instrument, and aCkn1Wledged that he executed the same for the purposes therein i contained. IN WITNESS fHEREOF, I hereunto set my hand and official seal. ~j(~ , ota ea Unda K. Klein, Notary Public Shippensburg, PA Cumberland County Commission ires Au ust 15, 2008 (SEAL) COMMONWEALTH fF PENNSYL VANIA COUNTY OF CUMB~RLAND . 1:' On this, the 12 C; - day of I SS 9}NvJ-- , 2007, before me, the under~igned officer, personally appeared KATHRYN E. BOWERS, known to me (or satisrltctorily proven) to be the person whose name is subscribed to the within instrument, and lacknowledged that she executed the same for the purposes therein I contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ~K~ (SEAL) WEIGLE & ASSOCIATES, P.q. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257-1397 I " In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-06.0798 Estate of Mary S. Kann, Deceased Late of Penn Township Account Boyd D. Kann, Executor Social Security #: Tax 10 #: Date of Death: Date of Incapacity, if any: Date of Executor's Appolntm~nt: Date of First Complete Adve"'lsement: I 201-18-2702 20-7076276 08/23/2006 None 09/13/2006 09/20/2006 08/23/2006 to 06/07/2007 Accounting for the Period: Purpose of Account: Boyd 0 Kann, Executor, offers this Account to acquaint Interested parties with the transactions that have oce urred during the Administration. It Is Important that the Accou~t be carefully examined. Requests for additional Information or questions or objections can be dlscuss~d with: Jerry A. Weigle Esquire Weigle & Associates, P .C. 126 East King Street Shippensburg, PA 17257 717/532-7388 Supreme Court 1.0. No. 01624 I SUMMARY OF ACCOUNT Estate of Mary S. Kann, Dec~ased For the period of Auaust 23. 2006 ~hrouah June 7. 2007 Paae Fiduciary Acquisition Value PRINCIPAL Receipts: This Account 1-2 177,973.91 Net Gain (or Loss) on Sales 0.00 or Other Dispositions 177,973.91 Less Disbursements: Debts of Decedent 3 32,646.75 Funeral Expenses 3 6,806.30 Administration Expenses 3-4 748.79 Federal and State Taxes 4 4,012.92 Commissions 0.00 Fees 4 7,373.77 Family Exemption 0.00 51,588.53 Balance Before Distributions 126,385.38 Transfer to (from) Principal 0.00 Distributions to Beneficiaries 6 125,951.35 Principal Balance on Hand 7 434.03 For Information: Investments Made Changes in Investment Holding~ 8 INCOME Receipts This Account 9 25.43 Net Gain (or Loss) on Sales 0.00 or Other Dispositions 25.43 Less Disbursements 10 459.46 Balance Before Distributions -434.03 Transfer to (from) Income 0.00 Distributions to Beneficiaries 0.00 Income Balance on Hand 11 -434.03 For Information: Investments Made Changes In Investment Holding COMBINED BALANCE ON HAND 0.00 Verification 12 SCHEDULE A RECEIPTS OF PRINCIPAL Fiduciary Acquisition Value C sh 08/23/2006 M & T Bank Certificate of Deposit 12.909.08 1003913794177 08/23/2006 1crued interest on above item through date of 106.26 d ath 08/23/2006 M 1& T Bank Checking Account #97332127 2.206.70 08/23/2006 fOd Intorest on obovollom through date of 0.05 d ath . 08/23/2006 o town Bank Checking Account #414220 1.002.14 08/23/2006 A crued interest on above item through date of 0.01 d ath 08/23/2006 U. S. Savings Bonds - liquidated 09/28/2006 5.353.38 08/23/2006 2.241.9160 V nguard IRA Income Fund - Boyd D. Kann, son, 48.851.35 b neficiary Total Cash 70.428.97 P rsonal Pro e 08/23/2006 L ne Cedar Chest 100.00 I Total Personal Property 100.00 08/23/2006 R sidence -1740 Walnut Bottom Road, Newville, 77 .000.00 C mberland County, PA Total Real Estate 77 .000.00 Total Inventory 147.528.97 ts 06/06/2007 C ntributlon from Boyd D. Kann - for payment 30.000.00 of debts to take assets In Kind 10/12/2006 E barq - refund 18.57 08/23/2006 Hi hmark Blue Shield - refund 37.21 08/23/2006 N tionwlde Mutual Fire Insurance - refund 371.00 10/24/2006 W ste Management - refund 18.16 1 SCHEDULE A RECEIPTS OF PRINCIPAL Continued Total Subsequent Principal Receipts Total Adjustments and Subsequent Receipts Total Receipts of Principal 2 " Fiduciary Acquisition Value 30.444.94 30.444.94 177.973.91 ..,.,..~ SCHEDULE C PISBURSEMENTS OF PRINCIPAL ! Debts of Decedent 08/23/2006 Boyjd D. Kann - judgment note dated 04/24/2003 30.000.00 09/14/2006 Em~arq 82.52 09/14/2006 Pen~ Fuel Propane 155.09 09/14/2006 PP Electric Utilities 77.14 09/19/2006 Ho ver's Plumbing & Heating 95.65 09/19/2006 Ku n Communications 46.91 09/19/2006 No h East Waste Services, Inc. 58.90 09/19/2006 Op~thamology Surgical Institute of Central PA 500.00 09/19/2006 Thel Sentinel 156.00 09/20/2006 Me~lcare Drug Premiums - refund of 237.00 overpayment 09/28/2006 PP Electric Utilities 52.17 11/01/2006 PP Electric Utilities 44.90 03/01/2007 Nat onwlde Mutual Fire Insurance - 344.00 ho eowner's premium 06/07/2007 Bo d D. Kann - partial payment of judgment 796.47 note I !Total Debts of Decedent 32.646.75 Funeral Expenses 09/14/2006 Fog~lsanger-Brlcker Funeral Home 6.806.30 Total Funeral Expenses 6.806.30 Administration Expenses 09/14/2006 Cu berland Law Journal - advertising Letters 75.00 Tes amentary 09/14/2006 Re Ister of Wills, Cumberland County - Letters 302.00 Tes mentary and Short Certificates 3 , . SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued 10/10/2006 Van;Y Tim.. Star - advartia'ng Labra 74.54 Tes amentary I 10/11/2006 Tai L. Shatter, Auctlonaar - appralaa' of cadar 35.00 che t 11/21/2006 Sail amer Real Estate - market analysis of real 100.00 esta~e 12/13/2006 Reg ster of Wills, Cumberland County - 1 Short 4.00 Cert ficate 03/05/2007 Un a K. Klein - notary fee 10.00 03/05/2007 Reg ster of Wills, Cumberland County - filing PA 15.00 In he tance Tax Return 03/05/2007 Wei Ie & Associates, P .C. - reserve for filing 75.00 Fam Iy Settlement Agreement with Register of Will ,Cumberland County 03/05/2007 Wei Ie & Associates, P.C. - reimbursement for 18.75 post ge, xerox copies, and long distance tele hone calls 03/14/2007 Rec rder of Deeds, Cumberland County _ 39.50 reco ing deed to Boyd D. Kann otal Miscellaneous Administrative Expenses 748.79 Federal. State & Local Taxes 11/16/2006 R89fr of Wins, Cumbarland County - PA 4.000.00 Inhe Itance Tax at discount 03/05/2007 Regi ter of Wills, Cumberland County - PA 12.92 In he tance Tax balance due 1I0tal Taxes 4.012.92 Fees I I 03/05/2007 wa~ & Associates, P.C. 7.373.77 tal Fees 7.373.77 I 4 , . SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued TO AL DISBURSEMENTS OF PRINCIPAL 51,588.53 5 - , . SCHEDULE 0 DISTRIBUTIONS OF PRINCIPAL Bovd D. Kann 09/23/2006 03/01/2007 2,241.9160 Van uard IRA Income Fund Res' ence -1740 Walnut Bottom Road, Newville, Cu berland County, PA 48,851.35 77,000.00 125,851.35 Kathryn E. Bowers 06/07/2007 Lane Cedar Chest 100.00 100.00 TOTAL DISTRIBUTIONS TO BENEFICIARIES 125,951.35 6 # Units PRINCIPAL BALANCE ON HAND Description Cash Estate Acco nt Total Cash 7 Current Value 06107/2007 or as Noted 434.03 434.03 434.03 , ' Fiduciary Acquisition Value 434.03 434.03 434.03 # Units Lane Cedar Chest 08/23/2006 06/07/2007 Residence 08/23/2006 03/01/2007 Vanauard IRA Income Fund 08/23/2006 09/23/2006 2.241.9160 -2.241.9160 0.0000 SCHEDULE F C~ANGES IN PRINCIPAL HOLDINGS I I I inv ntoried dis ributed inv ntoried dis ibuted invlntoried disfibuted 8 Total , . Cost 100.00 -100.00 0.00 77.000.00 -77 .000.00 0.00 48.851.35 -48.851.35 0.00 0.00 ~ . SCHEDULE G RECEIPTS OF INCOME 9 SCHEDULE I DISBURSEMENTS - INCOME EXDense I INCOME U. S. Treasury 03/01/2007 ~61041 flducla'Y Income tax I TO~AL DISBURSEMENTS OF INCOME 459.46 10 . 459.46 459.46 # Units INCOME BALANCE ON HAND Description Cash Estate Acco nt Total Cash 11 Current Value 06/07/2007 or as Noted -434.03 -434.03 -434.03 ,,- Fiduciary Acquisition Value -434.03 -434.03 -434.03 i 10' . In the Court of Corjnmon Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-06.0798 , Estate of Mary S. Kann, Deceased Verification Boyd D. Kann, Executor unde the Last Will and Testament of Mary S. Kann, Deceased, hereby declares under oath that he/s has fully and faithfully discharged the duties of his/her office; that the foregoing Account is true nd correct and fully discloses all significant transactions occurring during the accounting period; hat all known claims against the Estate have been paid in full; that, to his/her knowledge, there a no claims now outstanding against the Estate; that all taxes presently due from the Estate ave been paid; and that the grant of Letters Testamentary and the first complete advertisement t ereof occurred more than four months before the foregoing Account. ! This statement is made SUbje~ to penalties of 18 Pa. C.S.A. Section 4904 relating to unsworn falsification to authorities. ! fJ~ ~d~ 6 - / J--O 7 Dated: 12