HomeMy WebLinkAbout07-27-07
DECEDENT'S ESTATE
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COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA
ORPHANS' COURT DIVISION
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ESTATE OF CAMILLA R. WESTCOIT
, DECEASED
No. 21-05-0491
PETITION FOR ADJUDICATION /
STATEMENT OF PROPOSED DISTRIBUTION
PURSUANT TO Pa. O.C. Rule 6.9
This form may be used in all cases involving the Audit of the Account of a Decedent's Estate. If
space is insufficient, riders may be attached. Attach the spouse's election, if any; the papers
required under items 8-19 inclusive; and any instrument pertinent to the adjudication.
INCLUDE ATTACHMENTS AT THE BACK OF THIS FORM.
Name of Counsel: Roger M. Morgenthal, Esquire
Supreme Court J.D. No.:
Name of Law Firm:
Address: 2515 North Front Street, Harrisburg, P A 17110-1150
Telephone: 717-909-4383
Fax: 717-909-4384
Form OC-OJ rev. /0.13.06
Page 1 of 10
Estate of CAMILLA R. WESTCOTI
, Deceased
1. Name(s) and addressees) ofPetitioner(s):
Name:
Jane F. Burke, Vice President
Address:
One West High Street
Carlisle, P A 17013
Identify any executors or administrators who have not joined in the Petition for
Adjudication and Statement of Proposed Distribution and state reason:
N/A
Is this the first accounting by this fiduciary? . . . . . . . . . . . . . . . . . . . . . IZI Yes D No
If not, identify prior accountings, the accounting periods covered, and the date of
adjudication of the prior accounting.
2. Decedent died on May 19.2005
D Letters Testamentary or IZILetters of Administration were granted to Petitioner(s) on
June 2. 2005
Date of Will (if applicable): February 17, 1978
Date(s) ofCodicil(s) (if applicable): none
Date of probate (if different from date Letters granted):
Was a bond required? DYes DNo If yes, state amount:
Are proofs of advertising of the grant of Letters attached? ......... IZI Yes D No
Dates of advertising of the grant of Letters: Cumberland Law Joumal--June 17 24
,
and July 1,2005. The Sentinel--June 9, 16 and 23, 2005.
Form OC-OJ rev. 10./3.06
Page 2 of 10
r'
Estate of CAMILLA R. WESTCOTT
, Deceased
3. Was decedent survived by a spouse? . . . . . . . . . . . . . . . . . . . . . . . . . . . .. DYes Ii] No
If yes, name ofthe surviving spouse:
4. Has the surviving spouse filed to take an elective share? ............. DYes D No
(See Section 2201 et~. of the Probate, Estates and Fiduciaries Code)
If yes, date of election:
5. In the case of an intestacy, state the names of the decedent's surviving children or
surviving issue of deceased children (if none, so state):
N/A
6. Did decedent marry after execution of Will or Codicil(s)? . . . . . . . . . .. D Yes Ii] No
Were any children born to decedent after execution of
Will or Codicil(s)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D Yes Ii] No
If yes, give names and dates of birth:
Name:
Date of Birth:
7. If required by the Medical Assistance Estate Recovery Act,
62 P.S. S 1412, was a request for a statement of claim sent to
the Department of Public Welfare? . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. DYes D No
Form DC-01 rev. 10.13.06
Page 3 of 10
..
Estate of CAMILLA R. WESTCOTT
, Deceased
8. Written notice ofthe Audit as required by Pa. O.C. Rules 6.3,6.7 and 6.8 has been or will be
given to all parties in interest listed in item 9 below, all unpaid creditors and all claimants
listed in item 10 below. In addition, notice of any questions requiring Adjudication as
discussed in item 14 below has been or will be given to all persons affected thereby.
A. If Notice has been given, attach a copy ofthe Notice as well as a list of the names
and addresses ofthe parties receiving such Notice.
B. If Notice is yet to be given, a copy of the Notice as well as a list of the names and
addresses ofthe parties receiving such Notice shall be submitted at the Audit
together with a statement executed by a Petitioner or counsel certifying that such
notice has been given.
C. Ifany person entitled to Notice is not suijuris (e.g., minors or incapacitated
persons), Notice of the Audit has been or will be given to the appropriate
representative on such party's behalf as required by Pa. O.c. Rule 5.2.
D. If any charitable interest is involved, Notice of the Audit has been or will also be
given to the Attorney General as required under Pa. O.C. Rule 5.5. In addition, the
Attorney General's clearance certificate (or proof of service of Notice and a copy
of such Notice) must be submitted herewith or at the Audit.
9. List all parties (charitable and non-charitable) of whom Petitioner(s) has/have notice or
knowledge, having or claiming any interest in the estate as beneficiaries under the Will or
Codicil(s) or as intestate heirs if there is a complete or partial intestacy:
A. State each party's relationship to the decedent and the nature of each party's
interest( s ):
Name and Address of Each Party in Interest
Relationship and Comments, if any Interest
William W. Westcott
184 Gough Avenue
Toronto, ON M4K 3Pl
Canada
Son Beneficiary of
Testamentary Trust
Form DC-OJ rev. 10.13.06
Page 4 of 10
Estate of CAMILLA R. WESTCOTI
, Deceased
Name and Address q{ Each Party in Interest
Relationship and Comments, if any
Interest
B. Identify each party who is not sui juris (e.g., minors or incapacitated persons).
For each such party, give date of birth, the name of each Guardian and how each
Guardian was appointed. If no Guardian has been appointed, identify the next of
kin of such party, giving the name, address and relationship of each.
N/A
C. State why a Petition for GuardianITrustee Ad Litem has or has not been filed for
this Audit (~ee Pa. o.c. Rule 12.4).
N/A
D. If distribution is to be made to the personal representative of a deceased party,
state date of death, date and place of grant of Letters and type of Letters granted.
N/A
Form OC-OI rev. IO.I3.06
Page 5 of 10
Estate of CAMILLA R. WESTCOTT
, Deceased
10. Other than the claim for the family exemption, list the names of all known claimants and
the amount of their claims and state whether each claim is admitted.
Name and Address of Each Claimant Amount of Claim Claim Will Claim
Admitted? Be Paid fn
Full?
None DYes DYes
DNo DNo
DYes DYes
DNo DNo
DYes DYes
DNo DNo
DYes DYes
DNo DNo
If the estate is insolvent, attach a schedule setting forth the order of preference under
20 Pa.C.S. ~ 3392 and the proposed payments.
II.
Was family exemption claimed?
DYes
DYes
[l]I No
DNo
Was family exemption allowed?
Family exemption claimant's name and relationship:
Name:
Relationship:
Form OC-Of rev. /0.13.06
Page 6 of 10
Estate of CAMILLA R. WESTCOIT
, Deceased
12. The amount of Pennsylvania Transfer Inheritance Tax and additional Pennsylvania Estate
Tax paid, the date(s) ofpayment(s), and the interest(s) upon which paid, are as follows:
Date
Payment
Interest
Aug. 17, 2005
100,000.00
Feb. 14,2006
105,838.31
April 3, 2006
3,065.08
13. On the date of death, was the decedent a fiduciary
(personal representative, trustee, guardian, agent under power
of attorney) or surety on the bond ofa fiduciary? .. .. ... .. ... .. . ... . DYes IZlI No
If yes, provide the name of the estate, indicate whether an account has been filed and
confirmed absolutely and all awards performed, or, in the alternative, how the
decedent's estate will be discharged for the decedent's fiduciary administration ofthe
estate.
14. A. Describe in detail any questions requiring adjudication and state the position ofthe
Petitioner(s) as to each question:
B. Has notice ofthe question requiring adjudication been given
to the parties identified in Paragraph 9 above? .................. IZlI Yes D No
15. IfPetitioner(s) has/have knowledge that a share has been assigned, renounced, disclaimed
or attached, provide a copy of the assignment, renunciation, disclaimer or attachment,
together with any relevant supporting documentation.
Form OC-OI rev. 10.13.06
Page 7 of 10
Estate of CAMILLA R. WESTCOTT
, Deceased
16. Had the decedent been adjudicated an incapacitated person? . . . . . . . . . . DYes IZI No
If yes, attach a copy of the Order if available; otherwise state the Court, term, number,
date, and name of Hearing Judge.
17. A. List or attach a separate list of additional receipts and disbursements since the closing
date of the Account.
None
B. Has notice of the additional receipts and disbursements been
given to the parties identified in Paragraph 9 above? ............. DYes D No
18. If a reserve is requested, state amount and purpose.
Amount: 5,000.00
Purpose: Closing and Filing Fees
If a reserve is requested for counsel fees, has notice of the
amount of fees to be paid from the reserve been given to the
parties in interest? ........................................ IZIYes D No
If so, attach a copy of the notice.
19.
Is the Court being asked to direct
the filing of a Schedule of Distribution?
IZIYes DNo
As to real estate only? ........................................ DYes IZINo
Form DC-OJ rev. JO.13.06
Page 8 of 10
Estate of CAMILLA R. WESTCOTT
, Deceased
Wherefore, your Petitioner(s) ask(s) that distribution be awarded to the parties entitled
and suggest(s) that the distributive shares of income and principal (residuary shares being stated
in proportions, not amounts) are as follows:
A. Income:
Proposed Distributee(s)
Amount/Proportion
Trust U/Will Camilla R. Westcott
100%
B. Principal:
Proposed Distributee(s)
Amount/Proportion
Trust U/Will Camilla R. Westcott
100%
Submitted By:
(All petitioners must sign.
Add additional lines ifnecessary):
lL LJ
of Petitioner: Jane F. Burke, Vice President
Manufacturers and Traders Trust Company
Name of Petitioner:
Form OC-OJ rev. 10.13.06
Page 9 of 10
Estate of CAMILLA R. WESTCOTI
, Deceased
Verification of Petitioner
(Verification must be by at least one petitioner.)
The undersigned hereby verifies * [that he/she she is title Vice President
of the above-named name of corporation Manufacturers & Traders Trust Co. and] that the facts set
forth in the foregoing Petition for Adjudication / Statement of Proposed Distribution which are
within the personal knowledge of the Petitioner are true, and as to facts based on the information
of others, the Petitioner, after diligent inquiry, believes them to be true; and that any false
statements herein are made subject to the penalties of 18 Pa. C.S. g 4904 (relating to unsworn
falsification to authorities).
~
* Corporate petitioners must complete bracketed information.
Certification of Counsel
The undersigned counsel hereby certifies that the foregoing Petition for Adjudication/
Statement of Proposed Distribution is a true and accurate reproduction of the form Petition
authorized by the Supreme Court, and that no changes to the form have been made beyond the
responses herein.
Signature of Counsel for Petitioner
Form OC-OJ rev. 10.13.06
Page 10 of 10
LAST WILL AND TESTAMENT
I, CAMILLA R. WESTCOTT, of West Pennsboro Township,
Cumberland County, Pennsylvania, being of sound 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 former Wills, Codicils or writings in the nature thereof, by me
at any time heretofore made.
FIRST: I order and direct my Executor, hereinafter named,
to pay all of my just debts, funeral expenses, testamentary expenses,
and all Inheritance, Estate, Transfer and Succession Taxes as soon as
may be conveniently done after my de~th, out of my residuary estate.
SECOND: I hereby give and bequeath to my hUBband, Laurence
C. Westcott, a sum equal to the appraised value of my home located
in West Pennsboro Tbwnship, Cumberland County, Pennsylvania, as finally
determined for Estate and Inheritance Tax purposes.
THIRD: I hereby give and bequeath all of my tangible
per&onal property, including but not limited to household furnishings,
farm equipment and automobile, to my son, William W. Westcott. Some
of my tangible personal property was purchased by me and my husband,
Laurence C. Westcott, as tenants in common without the right of
survivorship, and, therefore, half of same is owned by my husband,
Laurence C. Westcott.
FOURTH: I hereby give, devise and bequeath my interest in
the farm, commonly known as the "Graham Farm", and my horne, both located
in West Pennsboro Township, Cumberland County, Pennsylvania, to my
son, William W. Westcott.
My husband, Laurence C. Westcott, shall have the right to
live in said home so long as he desires without the payment of rent
or other charge provided that he pay the real estate taxes, insurance,
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maintenance and expenses associated with the home, and provided further
that he make no major tmprovements without prior written approval of
my said son.
FIFTH: All the rest, residue and remainder of my Estate,
be it real, personal or mixed, of whatsoever kind and wheresoever
situate, I hereby give, devise and bequeath to my husband, Laurence
C. Westcott and my son, William W. Westcott, in equal shares, share
and share alike.
SIXTH: In the event that my husband and I should die as a
result of a common disaster, or under such circumstances as to render
it difficult or impos-sible to determine who predeceased whom, I hereby
declare it to be my intention and direction that I shall be con-
clusively presumed to have survived my said husband, and this, my
Last Will and Testament, shall be construed on that assumption and
basis, statute, law'or rule to. the contrary, notwithstanding.
SEVENTH: In the event that my husband shall prede.cease me,
I hereby give, devise and bequeath my residuary estate to the Commonwealth
Nat~onal Bank, IN TRUST NEVERTHELESS. The Trust Estate shall be invested
in good and safe securities legal for trust funds in the Commonwealth of
Pennsylvania. The Trustee may retain such investments as I have made
during my lifetime without liability for diminution in the value thereof
or lack of productivety.
The net income derived therefrom shall be paid in quarterly
installments, or more frequently if desired, to and for the use and
benefit of my said son, William W. Westcott, for and during the term
of his natural life. The Trustee from time to time in its sole
discretion may use so much of the principal as it deems necessary
for the health, support, maintenance and general welfare of my said
son, William W. Westcott, either by payment directly to him or for
his benefit.
Upon the death of my said son, the Trustee shall distribute
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the Trust estate to the charities which I have designated by a written
signed list given to the Trustee.
without right, power and authority to sell, transfer, pledge, mortgage,
My said son, is hereby restrained from and is or shall be
hypothecate, alienate, anticipate, or in any other manner effect or
impair his, beneficial and legal rights, titles, interests, claims and
estates in and to the income or principal of the Trust Estate during
the term hereof, nor shall his rights, titles, interests, claims and
estates hereunder be subject to the rights or claims of his creditors
nor subject nor liable to any process of law or court, and all of the
income of principal of the Trust Estate shall be transferrable,
payable and deliverable only, solely, exclusively and personally to
or for my son as provided hereunder at the time entitled to take
the same under the terms of this Trust.
LASTLY, I hereby nominate, constitute and appoint Laurence
C. Westcott to be the Executor of this, my Last Will and Testament,
he to serve without Bond in the Commonwealth of Pennsylvania, or in
any, other jurisdiction. In the event that my said husband shall be
unable to act as Executor of my estate or complete the administration
thereof for any reason whatsoever, I hereby nominate, constitute and
appoint William W. Westcott as Executor hereof, he likewise to serve
without Bond.
this
IN WITNESS WHEREOF, I have hereunto set my hand and seal
/7>:f- day of p~ ' 1978.
()md~ fP, 'Jf'/4kdt (SEAL 1
SIGNED, SEALED, PUBLISHED and DECLARED
by CAMILLA R. WESTCOTT, the abDve named
Testatrix, as and for her Last Will and
Testament, in our presence, who, in her
presence, at her request, and in the
presence of each other, have hereunto
set our hands as subscribing witnessess.
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PROOF OF PUBLICATION
State of Pennsylvania, County of Cumberland
Tanuny Shoemaker, Classified Advertising Manager, of The Sentinel, of the County
and State aforesaid, being duly sworn, deposes and says that THE SENTINEL, a
newspaper of general circulation in the Borough of Carlisle, County and State
aforesaid, was established December 13th, 1881, since which date THE SENTINEL has
been regularly issued in said County, and that the printed notice or publication
attached hereto is exactly the same as was printed and published in the regular editions
and issues of THE SENTINEL on the following day(s)
Tune 09, 16, 23, 2005.
COPY OF NOTICE OF PUBLICATION
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EXECUTOR NOTICE
Letters Testamentary on the Estate of CAMILLA R.
WESTCOTT, late of West Pennsboro Township,
Cumberland County, Pennsylvania, deceased, have
been granted to the undersigned.
All person knowing themselves to be indebted to the
said Estate will make payment immediately, and those
having claims will present them for settlement to:
Manufacturers and Traders Trust Company
One West High Street
P.O. Box 220
Carlisle,PA 17013
717-240-4504
Affiant further deposes that he/ she is not
interested in the subject matter of the
aforesaid notice or advertisement, and that
all allegations in the foregoing statement
as to time, place and character of
:~=~~;oJcttI~A
Roger M. Morgenthal, Esquire
Sworn to and subscribed before me this
29th. day of June, 2005.
GIu~~ i lA>>~
Notary pp' lie
My commission expires: <7 If/of
COMMONWEAL fH OF PENNSYLVANIA
I Notarial Seal
Christina L. Wolfe, Notary Public
I Cal1isle Bore, Cumberland County
i My Commission Expires Sept 1, 2008
Member. Pennsylvania Association Of Notaries
CUMBERLAND LAW JOURNAL
32 SOUTH BEDFORD STREET
CARLISLE, P A 17013
July 1,2005
Cumberland Law Journal is published every Friday by the Cumberland County Bar
Association and is designated by the Court of Common Pleas as the official legal publication for
Cumberland County and the legal newspaper for publication of legal notices.
TO:
M. & T. Trust
RE:
Camilla R. Westcott, ESTATE
Legal advertisements must be received by Friday Noon. All legal advertising must be
paid in advance. Make all checks payable to: Cumberland Law Journal.
=====================================================================
Advertisement inserted on following dates:
June 17,24, July 1,2005
Advertising Cost
$ 75.00
Proof of Publication
$ 0.00
Second Proof Request
$ 0.00
Payment Received
$ 75.00
Total Amount Due
$
0.00
---------
---------
Payment received June 14,2005
by Becky H. Morgenthal/Executive Director
~l\\ Internal Revenue Service
WII Cincinnati, OH 45999
Contact Person: Nancy Eyman
Badge Number: 17-56260
Telephone: 1-866-699-4083
(Toll Free Number)
April 25, 2007
Estate Tax Closing Document
(Not a bill for tax due)
MANUFACTURERS & TRADERS TRUST CO
ONE WEST HIGH ST
CARLISLE PA 17013
Estate Name: CAMILLA R WESTCOTT
Social Security Number: 193-12-8844V
Date of Death: 5/19/2005
We have determined the following:
NET ESTATE TAX: $
STATE DEATH TAX CREDIT/DEDUCTION*: $
GENERATION-SKIPPING TAX: $
700,333.00
141,895.92
0.00
These figures do not include any interest and penalties that may be charged.
Please keep this document in your permanent records. You may need it to complete
administration of the estate, such as: close probate proceedings, transfer title to property, and
settle state taxes. Keep it with your cancelledcheck(s) to show that you have met the estate tax
obligation. Proof of payment in the amount shown above releases you of personal liability
(IRC 2204). If the time for payment in the amount shown above is extended under
section 6161, 6163, or 6166, personal liability is not released until full payment has been
received.
We will not reopen this return unless you notify us of changes to the return, or there is evidence
of misrepresentation of a material fact, a clearly defined substantial error based upon an
established Service position or a serious administrative omission. (See Rev. Proc 2005-32; IRB
2005-23 page 1206.
~ tJ.~
Director, Compliance Campus Operations
-For dates of death after 12/31/04, this amount represents the State Death Tax Deduction.
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COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA()
ORPHANS' COURT DIVISION
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NO. 21-05-0491
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ESTATE OF CAMILLA R. WESTCOTT, DECEASED
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---------------------------------------
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FIRST AND FINAL ACCOUNT OF
Manufacturers and Traders Trust Company, Administrator, C.T.A.
================================================================================
Date of Death:
May 19, 2005
Date of Administrator, C.T.A. 's Appointment:
June 2, 2005
Date of First Advertisement of Letters:
The Sentinel -
June 9, 16 & 23, 2005
Cumberland Law Journal -
June 17, 24 & July I, 2005
Accounting for the Period:
May 19, 2005 to
July 12, 2007
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Purpose of Account: Manufacturers and Traders Trust Company, Administrator,
C.T.A., offers this account to acquaint interested parties with the transactions
that have occurred during this administration.
It is important that the account be carefully examined. Requests for
additional information or questions or objections can be discussed with:
Manufacturers and Traders Trust Company
1 West High Street
Carlisle, PA 17013
(717) 240-4504
Or
Roger M. Morgenthal, Esquire
2515 North Front Street
Harrisburg, PA 17110
SUMMARY OF ACCOUNT
Estate of Camilla R. Westcott, Deceased
For Period of 05/19/2005 through 07/12/2007
Proposed Distributions
to Beneficiaries
PRINCIPAL
Page
42-43
Per Inventory Filed 3-8
Subsequent 8-9
Principal Receipts
Adjustments 9-10
Receipts:
Net Gain (or Loss) on Sales
or Other Disposition
Less Disbursements:
Debts of Decedent
Funeral Expenses
Administration Expenses
Federal and State Taxes
Fees and Commissions
Balance before Distributions
Distributions to Beneficiaries
Principal Balance on Hand
For Information:
Investments Made
Changes in Investment Holdings
INCOME
Receipts:
This Account
Net Gain (or Loss) on Sales
or Other Disposition
Less Disbursements
Balance Before Distribution
Distributions to Beneficiaries
Income Balance on Hand
COMBINED BALANCE ON HAND
11-13
14-15
15
15-16
16-17
17
18
19-20
21
22-31
32-37
38-39
40
41
2
Current
Value
Fiduciary
Acquisition
Value
3,116,634.06 3,028,947.06
--------------- ---------------
--------------- ---------------
24,628.60
7,812.00
8,590.77
1,625,771.18
162,412.50
4,696,672.90
704,189.54
(2,119.54)
25,415.42
5,424,158.32
1,829,215.05
3,594,943.27
567,333.36
3,027,609.91
265,116.69
0.00
265,116.69
19,403.54
245,713.15
244,376.00
1,337.15
3,028,947.06
---------------
---------------
RECEIPTS OF PRINCIPAL
ASSETS LISTED IN THE INVENTORY
AND APPRAISEMENT AS FILED:
CASH:
Central Penn Medical - Refund
Citizens Bank Account
#6100652548
Citizens Bank Account
#6204299976
Commerce Bank Certificate of
Deposit #1100598
Cumberland Goodwill Fire
Rescue EMS - Refund
Internal Revenue Service -
2004 Federal Income Tax Refund
Legg Mason Wood - Brokerage
Account Money Market Balance
Accrued Interest
M&T Bank Checking Account
#2674015280
M&T Bank Money Market Account
#15004200018982
Manor Care - Refund
Master Trust - Refund of
Liability Insurance Premium
Nationwide Life & Annuity
Insurance Co.
Orrstown Bank Certificate of
Deposit #4000001085
Orrstown Bank Checking Account
#106002710
Proceeds from Sale of 1993
Nissan Sentra
3
278.65
15,952.52
69,066.56
51,447.36
399.00
3,356.50
956.16
99.27
50,629.75
34,796.75
313.00
19.00
283,518.12
31,598.04
57,343.67
947.50
Fiduciary
Acquisition
Value
Received from Estate of
Laurence Westcott - Specific
Bequest
State of Illinois - Pension
Teachers Retirement System of
Illinois - Death Benefit -
Taxable Portion
Teachers Retirement System of
Illinois - Death Benefit -
Non-Taxable Portion
Thornwald Nursing Horne -
Refund
Tri-State Imaging Consultants,
LLC - Refund
PERSONAL PROPERTY:
Coins - Appraised Value
Personal Property - Appraised
Value
STOCKS/LISTED:
2,099 shares BP PLC
Accrued Dividend
32,473.27 shares Dreyfus Municipal Bond
Fund #54
460 shares Dynegy, Inc.
15,942.631 shares Fidelity PA Tax Free
Portfolio High Yield
11,705.224 shares Fidelity Spartan
Municipal Income Fund
Accrued Dividend
1,308 shares FNB Corp
4,984.303 shares Legg Mason Investment
Trust Income
7,745.161 shares Legg Mason Value Trust
Income
4,432 M&T Bank Corp
4
5,000.00
667.78
1,819.47
1,180.53
2,236.13
166.00
321. 36
3,012.00
125,835.05
1,070.49
387,741.44
1,874.50
175,687.79
153,572.54
533.86
24,747.36
71,823.81
478,883.30
466,445.84
611,791. 76
3,333.36
100 shares Marathon Oil Corp
Accrued Dividend
220 shares PPL Corporation
250 shares Public Service
Enterprise Group
1,524 shares SBC Communications Inc
200 shares Sempra Energy
21,983.486 shares T. Rowe Price Tax Free
High Yield Fund
11,445.438 shares Vanguard Insured Long
Term Tax Exempt Fund #58
Accrued Dividend
BONDS:
$15,000 Windsor Township PA GO
Bonds 2.5% due 12/15/08
Accrued Interest
$25,000 First Financial Bank
Hamilton, OH 3% due 8/3/07
Accrued Interest
$25,000 Merrick Bank Corp
4.25% due 6/20/05
Accrued Interest
$25,000 Par Providian National
Bank, Tilton, NH 5.7% due
6/20/06
Accrued Interest
$25,000 Par Providian National
Bank, Tilton, NH 6% due
1/24/08
Accrued Interest
$30,000 Amcore Bank NA
Rockford IL 6.75% due 11/1/05
Accrued Interest
$30,000 Par Corus Bank NA
Chicago IL 5.75% due 6/8/06
Accrued Interest
$40,000 Par Advanta Bank Corp
Draper, UT 3.2% due 3/31/09
Accrued Interest
5
4,617.00
28.00
12,233.10
13,733.76
36,118.80
7,760.00
262,482.82
146,730.52
564.55
14,810.10
160.42
24,308.58
33.33
25,013.90
439.76
25,339.60
589.79
25,624.88
479.17
30,323.85
101.25
30,440.97
771.46
38,060.36
174.22
2,372,484.53
$40,000 Par Carrolton Bank IL
4 % due 10/13/09
Accrued Interest
$40,000 Par First Bank Thomson
GA 4% due 11/19/09
$45,000 Ambridge PA Area
School District GO 4% due
11/1/08
Accrued Interest
$45,000 Par Discover Bank
Greenwood, DE 4.5% due 3/23/10
Accrued Interest
$50,000 Par Carolina First
Bank Greenville, SC 3.7% due
4/30/09
Accrued Interest
$50,000 Cross Country Bank
Wilmington DE 5.7% due 5/30/06
Accrued Interest
$50,000 Par Covest Banc NA Des
Plaines, IL 3% due 1/9/06
Accrued Interest
$50,000 Par Flagstar Bank
Bloomfield Hls, MI 3.85% due
12/11/07
Accrued Interest
$50,000 Par First National
Bank, Reno, NV 4.25% due
6/18/09
Accrued Interest
$50,000 Par Gold Bank
Hennessey OK 3.65% due 2/4/09
Accrued Interest
$50,000 Par Gold Bank Leawood
KS 3.65% due 1/30/09
Accrued Interest
$50,000 MBNA America Bank NA
7.25% due 5/19/05
Accrued Interest
$50,000 Midfirst Bank OK City
4% due 7/10/06
Accrued Interest
6
38,992.20
160.00
38,957.20
46,552.95
90.00
44,642.52
315.00
48,405.50
97.64
50,705.45
1,337.92
49,799.70
541.67
49,296.45
844.86
49,340.75
891.32
24,222.38
266.15
48,452.35
552.57
50,168.85
1,349.31
49,982.50
716.67
$50,000 Pan American Fed SB
San Mateo, CA 4.05% due
7/12/06
Accrued Interest
$50,000 Pennsylvania Housing
Finance Agency 5.4% due
10/1/06
Accrued Interest
$50,000 Pleasant Valley PA
School District 4.5% due
9/1/09
Accrued Interest
$55,000 Par Treasury Bank
Alexandria, VA 3.6% due
10/15/08
Accrued Interest
$95,000 Par Provident Bank,
Cincinnati, OH 3.75% due
9/12/08
Accrued Interest
50 units Pennsylvania Insured
Municipal Income Fund Series
126S
Accrued Interest
15 units Pennsylvania Insured
Municipal Income Fund Series
5S
Accrued Interest
30 units Pennsylvania Insured
Municipal Income Trust 63 26
Mul. S
Accrued Interest
10 units Pennsylvania Insured
Municipal Income Fund Series 7
Accrued Interest
25 units Pennsylvania Insured
Municipal Income Trust Series
89 S
Accrued Interest
7
50,009.30
714.38
51,507.00
360.00
52,889.50
487.50
53,376.02
22.00
92,742.23
663.02
9,377.00
205.50
1,232.10
25.35
7,676.70
235.80
6,041. 20
168.10
3,853.25
123.75
1,145,063.25
08/15/05
12/19/05
12/19/05
12/30/05
02/06/06
09/01/06
07/20/05
07/20/05
07/22/05
08/15/05
REAL ESTATE/PA:
1295 Creek Road, West
Pennsboro Twp, Carlisle, PA
207 Graham Woods Road, West
Pennsboro Twp, Carlisle, PA
SUBSEQUENT PRINCIPAL RECEIPTS:
-----------------------------
CASH:
MetLife Life Insurance Co. -
Life Insurance from Laurence
Westcott
Fidelity PA Tax Free Portfolio
High Yield - Long Term Capital
Gains Distribution
Fidelity Spartan Municipal
Income Fund - Long Term
Capital Gains Distribution
Vanguard Insured Long Term Tax
Exempt Fund #58 - Long Term
Capital Gains Distribution
Fidelity Spartan Municipal
Income Fund - Long Term
Capital Gains Distribution
United States Treasury -
Refund of Federal Estate Tax
STOCKS/LISTED:
137.887 shares Fidelity PA Tax Free
Portfolio High Yield -
Received
64.434 shares Fidelity Spartan
Municipal Income Fund -
Received
29.921 shares Vanguard Insured Long
Term Tax Exempt Fund #58 -
Received
86.37 shares T. Rowe Price Tax Free
High Yield Fund - Received
8
475,000.00
89,000.00
4,000.00
1,173.88
1,588.90
328.20
235.39
690,286.79
1,512.62
843.44
381.49
1,693.36
564,000.00
697,613.16
08/15/05
01/09/06
02/08/06
09/01/05
10/03/05
03/01/06
03/01/06
04/03/06
04/03/06
09/01/06
10/02/06
03/01/07
179.088 shares T. Rowe Price Tax Free
High Yield Fund - Additional
Shares Received
ADJUSTMENTS:
$50,000 Par Covest Bane NA Des
Plaines, IL 3% due 1/9/06 -
Accreted Discount - Market
Discount
Vanguard Insured Long Term Tax
Exempt Fund #58 - Adjustment
to Book Value
AMORTIZATIONS:
$50,000 Pleasant Valley PA
School District 4.5% due 9/1/09 -
Current Year Amortization
$50,000 Pennsylvania Housing
Finance Agency 5.4% due 10/1/06 -
Current Year Amortization
$50,000 Pleasant Valley PA
School District 4.5% due 9/1/09 -
Current Year Amortization
$50,000 Pleasant Valley PA
School District 4.5% due 9/1/09 -
Prior Year Amortization
$50,000 Pennsylvania Housing
Finance Agency 5.4% due 10/1/06 -
Current Year Amortization
$50,000 Pennsylvania Housing
Finance Agency 5.4% due 10/1/06 -
Prior Year Amortization
$50,000 Pleasant Valley PA
School District 4.5% due 9/1/09 -
Current Year Amortization
$50,000 Pennsylvania Housing
Finance Agency 5.4% due 10/1/06 -
Current Year Amortization
$50,000 Pleasant Valley PA
School District 4.5% due 9/1/09 -
Prior Year Amortization
9
2,145.47
200.30
343.36
(177.65)
(396.56)
(105.75)
(215.55)
(273.91)
(277.01)
(326.06)
(559.52)
(222.13)
6,576.38
543.66
03/01/07
$50,000 Pleasant Valley PA
School District 4.5% due 9/1/09 -
Current Year Amortization
(109.06)
TOTAL RECEIPTS OF PRINCIPAL. ..............
10
(2,663.20)
5,398,742.90
GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS - PRINCIPAL
Gain Loss
06/30/05 $25,000 Merrick Bank Corp
4.25% due 6/20/05
Net Proceeds 25,000.00
Fid. Acq. Value 25"013.90 13.90
07/12/05 Orrstown Bank Certificate of
Deposit #4000001085
Net Proceeds 31,598.04
Fid. Acq. Value 31,598.04 0.00
07/14/05 0.251 share Fifth Third Bancorp
Net Proceeds 11. 93
Fid. Acq. Value 9.38 2.55
07/18/05 $50,000 MBNA America Bank NA
7.25% due 5/19/05
Net Proceeds 50,000.00
Fid. Acq. Value 50,168.85 168.85
07/18/05 4,984.303 shares Legg Mason Investment
Trust Income
Net Proceeds 75,412.50
Fid. Acq. Value 71,823.81 3,588.69
07/18/05 7,745.161 shares Legg Mason Value Trust
Income
Net Proceeds 493,289.30
Fid. Acq. Value 478,883.30 14,406.00
07/28/05 Commerce Bank Certificate of
Deposit #1100598
Net Proceeds 51,447.36
Fid. Acq. Value 51,447.36 0.00
11/01/05 $30,000 Amcore Bank NA
Rockford IL 6.75% due 11/1/05
Net Proceeds 30,000.00
Fid. Acq. Value 30,323.85 323.85
01/09/06 $50,000 Par Covest Banc NA Des
Plaines, IL 3% due 1/9/06
Net Proceeds 50,000.00
Fid. Acq. Value 50,000.00 0.00
11
02/09/06 22,607.563 shares T. Rowe Price Tax Free
High Yield Fund
Net Proceeds 270,160.38
Fid. Acq. Value 270,588.59 428.21
02/14/06 11,475.359 shares Vanguard Insured Long
Term Tax Exempt Fund #58
Net Proceeds 144,819.03
Fid. Acq. Value 147,455.37 2,636.34
05/30/06 $50,000 Cross Country Bank
Wilmington DE 5.7% due 5/30/06
Net Proceeds 50,000.00
Fid. Acq. Value 50,705.45 705.45
06/08/06 $30,000 Par Corus Bank NA
Chicago IL 5.75% due 6/8/06
Net Proceeds 30,000.00
Fid. Acq. Value 30,440.97 440.97
06/20/06 $25,000 Par Providian National
Bank, Tilton, NH 5.7% due 6/20/06
Net Proceeds 25,000.00
Fid. Acq. Value 25,339.60 339.60
07/10/06 $50,000 Midfirst Bank OK City
4% due 7/10/06
Net Proceeds 50,000.00
Fid. Acq. Value 49,982.50 17.50
07/12/06 $50,000 Pan American Fed SB
San Mateo, CA 4.05% due 7/12/06
Net Proceeds 50,000.00
Fid. Acq. Value 50,009.30 9.30
08/30/06 32,473.27 shares Dreyfus Municipal Bond
Fund #54
Net Proceeds
Fid. Acq. Value
384,483.52
387,741.44
3,257.92
08/31/06 16,080.518 shares Fidelity PA Tax Free
Portfolio High Yield
Net Proceeds
Fid. Acq. Value
173,187.18
177,200.41
4,013.23
12
08/31/06 11,769.658 shares Fidelity Spartan
Municipal Income Fund
Net Proceeds 150,533.93
Fid. Acq. Value 154,415.98 3,882.05
08/31/06 26.794 shares T. Rowe Price Tax Free
High Yield Fund
Net Proceeds 322.33
Fid. Acq. Value 321. 20 1.13
09/05/06 1,432 shares M&T Bank Corp
Net Proceeds 174,426.56
Fid. Acq. Value 150,710.84 23,715.72
10/02/06 $50,000 Pennsylvania Housing
Finance Agency 5.4% due
10/1/06
Net Proceeds 50,000.00
Fid. Acq. Value 50,000.00 0.00
10/02/06 0.105 share T. Rowe Price Tax Free
High Yield Fund
Net Proceeds 1. 27
Fid. Acq. Value 1.27 0.00
01/08/07
50 units Pennsylvania Insured
Municipal Income Fund Series
126S
Net Proceeds
Fid. Acq. Value
8,958.00
9,054.50
96.50
----------------------------
TOTAL GAINS AND LOSSES/PRINCIPAL...... .....
LESS LOSS.............................
41,731.59
16,316.17
16,316.17
NET GAIN OR LOSS. . . . . . . . . . . . . . . . . . . . . . . . . . .
25,415.42
--------------
--------------
13
06/07/05
06/10/05
06/13/05
06/16/05
06/20/05
06/20/05
06/28/05
06/28/05
07/25/05
07/28/05
07/29/05
08/02/05
08/03/05
08/22/05
09/13/05
09/13/05
09/21/05
10/21/05
DISBURSEMENTS OF PRINCIPAL
DEBTS OF DECEDENT
Pharmerica - Prescription
Drug Expense
West Shore EMS-BLS - Medical Expense
PPL - Electricity Expense
Marsh Advantage America -
Home Owners Insurance Premium -
1295 Creek Road, Carlisle
Pharmerica - Prescription
Drug Expense
PPL - Electricity Expense
M&T Bank - Safe Deposit Box Rental
State Farm Insurance -
Automobile Insurance Premium
Carlisle Regional Medical
Center - Medical Expense
The Brethren Mutual Insurance
Co. - Insurance Premium
Deborah W. Piper - Real
Estate Taxes - 207 Graham
Woods Rd, Carlisle
Roger M. Morgenthal - Deed
Transfer Costs
Deborah W. Piper - Real Estate
Taxes - 1295 Creek Rd, Carlisle
Central Penn Medical -
Medical Expense
Smith, Elliott, Kearns &
Company, LLC - 2004 Tax
Preparation Fee
Stephen G. Fisher - Real
Estate Survey Expense
Thornwald Nursing Home -
Nursing Home Expense
Miller Insurance Company -
Farmowners Insurance Premium
14
891.03
78.60
47.10
420.00
477.21
49.84
26.00
198.85
912.00
160.00
1,037.63
200.00
1,584.03
29.60
225.00
12,700.00
76.15
918.50
10/25/05
11/07/05
01/06/06
02/09/06
02/17/06
OS/24/06
09/15/06
09/15/06
09/15/06
12/12/06
06/13/05
09/12/05
06/02/05
06/03/05
06/06/05
Pennsylvania Department of
Transportation - Duplicate
Title for 1992 Nissan Sentra
The Detail Shop - Full Detail -
Nissan Sentra
Roger M. Morgenthal -
Recording Fees
Vital Records - Death Certificates
Pennsylvania Counseling
Services - Medical Expense
Pennsylvania Dept of Revenue -
2004 Fiduciary Income Tax -
Penalty for Late Payment
Internal Revenue Service -
2005 Personal Income Tax -
Balance Due
Pennsylvania Dept of Revenue -
2005 Personal Income Tax -
Balance Due - For Camilla Westcott
Pennsylvania Dept of Revenue -
2005 Personal Income Tax -
Balance Due - For Laurence Westcott
Internal Revenue Service -
Additional 2005 Individual
Income Tax - Balance Due
22.50
80.00
46.50
54.00
36.41
290.35
2,762.00
1,175.00
54.00
76.30
FUNERAL EXPENSES
TOTAL DEBTS OF DECEDENT.............................
Egger Funeral Home - Funeral Expense
Eby Granite Works - Granite
Bevel and Engraving
6,518.00
1,294.00
ADMINISTRATION EXPENSES
TOTAL FUNERAL EXPENSES............ ..................
Cumberland County Register of Wills -
Letters Testamentary
Cumberland County Register of Wills -
Additional Fee for Letters Testamentary
Cumberland Law Journal - Cost of
Advertising and Proof of Publication
15
1,330.00
5.00
75.00
24,628.60
7,812.00
06/29/05
07/05/05
07/06/05
08/25/05
08/25/05
10/25/05
02/09/06
07/03/06
07/10/06
07/13/06
09/18/06
07/29/05
07/29/05
08/17/05
02/14/06
Cumberland County Register of Wills -
Short Certificates
Rowe's Antiques - Appraisal
Fee for Personal Property
The Sentinel - Cost of Advertising
and Proof of Publication
S. W. Bartlett - Appraisal Fee -
207 Graham Woods Rd, Carlisle, PA
S. W. Bartlett - Appraisal Fee -
1295 Creek Rd, Carlisle, PA
Cumberland County Register of Wills -
Short Certificate
Cumberland County Register of Wills -
Short Certificates
Cumberland County Register of Wills -
Pennsylvania Inheritance Tax Filing Fee
Cumberland County Register of Wills -
Certification of Will
Cumberland County Register of Wills -
Additional Probate Costs
Smith, Elliott, Kearns &
Company, LLC - 2005 Tax
Preparation Fee
RESERVES:
Cumberland County Register of Wills -
Filing Fees
120.00
85.00
129.77
250.00
600.00
4.00
72.00
15.00
5.00
450.00
450.00
5,000.00
FEDERAL AND STATE TAXES
TOTAL ADMINISTRATION EXPENSES.... ...................
Internal Revenue Service -
2004 Fiduciary Income Tax -
Balance Due
Pennsylvania Dept of Revenue -
2004 Fiduciary Income Tax -
Balance Due
Cumberland County Register of Wills -
Pennsylvania Inheritance Tax Payment
Cumberland County Register of Wills -
Pennsylvania Inheritance Tax Payment
16
2,607.00
2,306.00
100,000.00
105,838.31
8,590.77
02/14/06
08/04/06
04/03/07
United States Treasury - 1,390,619.79
Federal Estate Tax
Internal Revenue Service - 21,335.00
Fiduciary Income Tax for Year
Ending 4/30/06 - Balance Due
Cumberland County Register of Wills - 3,065.08
Pennsylvania Inheritance Tax -
Balance Due
FEES AND COMMISSIONS
TOTAL FEDERAL AND STATE TAXES...... ................. 1,625,771.18
RESERVES:
Manufacturers and Traders
Trust Company - Administrator,
C.T.A. Fee
108,275.00
Roger M. Morgenthal -
Attorney Fee
54,137.50
TOTAL FEES AND COMMISSIONS................ ...... ....
TOTAL DISBURSEMENTS OF PRINCIPAL.................... 1,829,215.05
162,412.50
17
William Westcott
07/12/05
08/16/05
01/09/06
01/09/06
DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES
Personal Property -
Distributed in Kind
Coins - Distributed in Kind
1295 Creek Road, West
Pennsboro Twp, Carlisle, PA -
Distributed in Kind
207 Graham Woods Road, West
Pennsboro Twp, Carlisle, PA -
Distributed in Kind
3,012.00
321.36
475,000.00
89,000.00
TOTAL DISTRIBUTIONS TO BENEFICIARIES......
18
567,333.36
567,333.36
PRINCIPAL BALANCE ON HAND
# Units Description
Blackrock Liquid Fund TempFund
Class I Fund #24
$15,000 Windsor Township PA GO Bonds
2.5% due 12/15/08
$25,000 First Financial Bank
Hamilton, OH 3% due 8/3/07
$25,000 Par Providian National Bank,
Tilton, NH 6% due 1/24/08
$40,000 Par Advanta Bank Corp
Draper, UT 3.2% due 3/31/09
$40,000 Par Carrolton Bank IL 4% due
10/13/09
$40,000 Par First Bank Thomson GA 4%
due 11/19/09
$45,000 Arnbridge PA Area School
District GO 4% due 11/1/08
$45,000 Par Discover Bank Greenwood,
DE 4.5% due 3/23/10
$50,000 Par Carolina First Bank
Greenville, SC 3.7% due 4/30/09
$50,000 Par Flagstar Bank Bloomfield
HIs, MI 3.85% due 12/11/07
$50,000 Par First National Bank,
Reno, NV 4.25% due 6/18/09
$50,000 Par Gold Bank Hennessey OK
3.65% due 2/4/09
$50,000 Par Gold Bank Leawood KS
3.65% due 1/30/09
$50,000 Pleasant Valley PA School
District 4.5% due 9/1/09
$55,000 Par Treasury Bank
Alexandria, VA 3.6% due 10/15/08
$95,000 Par Provident Bank,
Cincinnati, OH 3.75% due 9/12/08
1,524 AT&T Corporation
2,099 BP PLC
460 Dynegy, Inc.
331 Fifth Third Bancorp
654 FNB Corp
3,000 M&T Bank Corp
200 Marathon Oil Corp
15 Pennsylvania Insured Municipal
Income Fund Series 5S
30 Pennsylvania Insured Municipal
Income Trust 63 26 Mul. S
10 Pennsylvania Insured Municipal
Income Fund Series 7
25 Pennsylvania Insured Municipal
Income Trust Series 89 S
19
Current Value
or as Noted
1,784,011. 20
14,643.90
24,950.50
25,051.50
38,461.60
38,690.40
38,638.00
45,136.35
43,821.00
48,417.00
49,647.00
48,811.00
24,287.25
48,586.50
50,653.45
53,678.90
93,059.15
60,670.44
155,326.00
4,512.60
12,905.69
10,477.08
323,190.00
12,574.00
746.25
2,480.40
4,106.00
2,701.75
Fiduciary
Acquisition
Value
1,784,011.20
14,810.10
24,308.58
25,624.88
38,060.36
38,992.20
38,957.20
46,552.95
44,642.52
48,405.50
49,296.45
49,340.75
24,222.38
48,452.35
51,733.30
53,376.02
92,742.23
36,118.80
125,835.05
1,874.50
12,364.30
12,373.68
315,735.00
4,617.00
950.40
2,914.80
4,463.80
3,106.75
440 PPL Corporation
250 Public Service Enterprise Group
200 Sempra Energy
20,922.00
22,490.00
11,650.00
3,115,296.91
20
12,233.10
13,733.76
7,760.00
3,027,609.91
INVESTMENTS MADE - PRINCIPAL
# Units Cost
-------
11/02/05 84.502 shares T. Rowe Price Tax Free 1,003.04
High Yield Fund
12/01/05 90.868 shares T. Rowe Price Tax Free 1,078.60
High Yield Fund
01/03/06 97.272 shares T. Rowe Price Tax Free 1,160.45
High Yield Fund
02/01/06 85.977 shares T. Rowe Price Tax Free 1,024.85
High Yield Fund
03/01/06 26.264 shares T. Rowe Price Tax Free 314.90
High Yield Fund
03/30/06 0.022 shares T. Rowe Price Tax Free 0.26
High Yield Fund
04/03/06 0.081 shares T. Rowe Price Tax Free 0.97
High Yield Fund
05/01/06 0.101 shares T. Rowe Price Tax Free 1. 20
High Yield Fund
06/01/06 0.106 shares T. Rowe Price Tax Free 1. 26
High Yield Fund
07/03/06 0.121 shares T. Rowe Price Tax Free 1. 43
High Yield Fund
08/01/06 0.099 shares T. Rowe Price Tax Free 1.18
High Yield Fund
09/01/06 0.105 shares T. Rowe Price Tax Free 1. 27
High Yield Fund
21
CHANGES IN INVESTMENT HOLDINGS - PRINCIPAL
Cost
$15,000 Windsor Township PA
GO Bonds 2.5% due 12/15/08
05/19/05
inventoried
14,810.10
14,810.10
$25,000 First Financial Bank
Hamilton, OH 3% due 8/3/07
05/19/05
inventoried
24,308.58
24,308.58
$25,000 Merrick Bank Corp
4.25% due 6/20/05
05/19/05
06/30/05
inventoried
matured
25,013.90
(25,013.90)
0.00
$25,000 Par Providian National Bank,
Tilton, NH 5.7% due 6/20/06
05/19/05
06/20/06
inventoried
matured
25,339.60
(25,339.60)
0.00
$25,000 Par Providian National Bank,
Tilton, NH 6% due 1/24/08
05/19/05
inventoried
25,624.88
25,624.88
$30,000 Amcore Bank NA Rockford
IL 6.75% due 11/1/05
05/19/05
11/01/05
inventoried
matured
30,323.85
(30,323.85)
0.00
22
$30,000 Par Corus Bank NA
Chicago IL 5.75% due 6/8/06
05/19/05
06/08/06
inventoried
matured
30,440.97
(30,440.97)
0.00
$40,000 Par Advanta Bank Corp
Draper, UT 3.2% due 3/31/09
05/19/05
inventoried
38,060.36
38,060.36
$40,000 Par Carrolton
Bank IL 4% due 10/13/09
05/19/05
inventoried
38,992.20
38,992.20
$40,000 Par First Bank
Thomson GA 4% due 11/19/09
05/19/05
inventoried
38,957.20
38,957.20
$45,000 Ambridge PA Area School
District GO 4% due 11/1/08
05/19/05
inventoried
46,552.95
46,552.95
$45,000 Par Discover Bank
Greenwood, DE 4.5% due 3/23/10
05/19/05
inventoried
44,642.52
44,642.52
$50,000 Par Carolina First Bank
Greenville, SC 3.7% due 4/30/09
05/19/05
inventoried
48,405.50
48,405.50
23
$50,000 Cross Country Bank
Wilmington DE 5.7% due 5/30/06
05/19/05
05/30/06
inventoried
matured
50,705.45
(50,705.45)
0.00
$50,000 Par Covest Banc NA Des
Plaines, IL 3% due 1/9/06
05/19/05
01/09/06
inventoried
accreted discount - market
discount
matured
49,799.70
200.30
01/09/06
(50,000.00)
0.00
$50,000 Par Flagstar Bank Bloomfield
Hls, MI 3.85% due 12/11/07
05/19/05
inventoried
49,296.45
49,296.45
$50,000 Par First National Bank,
Reno, NV 4.25% due 6/18/09
05/19/05
inventoried
49,340.75
49,340.75
$50,000 Par Gold Bank Hennessey
OK 3.65% due 2/4/09
05/19/05
inventoried
24,222.38
24,222.38
$50,000 Par Gold Bank Leawood
KS 3.65% due 1/30/09
05/19/05
inventoried
48,452.35
48,452.35
24
$50,000 MBNA America Bank
NA 7.25% due 5/19/05
05/19/05
07/18/05
inventoried
matured
50,168.85
(50,168.85)
0.00
$50,000 Midfirst Bank
OK City 4% due 7/10/06
05/19/05
07/10/06
inventoried
matured
49,982.50
(49,982.50)
0.00
$50,000 Pan American Fed SB San
Mateo, CA 4.05% due 7/12/06
05/19/05
07/12/06
inventoried
matured
50,009.30
(50,009.30)
0.00
$50,000 Pennsylvania Housing Finance
Agency 5.4% due 10/1/06
05/19/05
10/03/05
04/03/06
04/03/06
10/02/06
10/02/06
inventoried
current year amortization
prior year amortization
current year amortization
current year amortization
matured
51,507.00
(396.56)
(277.01)
(273.91)
(559.52)
(50,000.00)
0.00
$50,000 Pleasant Valley PA School
District 4.5% due 9/1/09
05/19/05
09/01/05
03/01/06
03/01/06
09/01/06
03/01/07
03/01/07
inventoried
current year amortization
prior year amortization
current year amortization
current year amortization
prior year amortization
current year amortization
52,889.50
(177.65)
(215.55)
(105.75)
(326.06)
(222.13)
(109.06)
51,733.30
25
$55,000 Par Treasury Bank
Alexandria, VA 3.6% due 10/15/08
05/19/05
inventoried
53,376.02
53,376.02
$95,000 Par Provident Bank,
Cincinnati, OH 3.75% due 9/12/08
05/19/05
inventoried
92,742.23
92,742.23
1295 Creek Road, West
Pennsboro Twp, Carlisle, PA
05/19/05
01/09/06
inventoried
distributed in kind
475,000.00
(475,000.00)
0.00
207 Graham Woods Road, West
Pennsboro Twp, Carlisle, PA
05/19/05
01/09/06
inventoried
distributed in kind
89,000.00
(89,000.00)
0.00
AT&T Corporation
11/21/05
1,524 shares received in name change
from SBC Communications
36,118.80
1,524
36,118.80
BP PLC
05/19/05
2,099 shares inventoried
125,835.05
2,099
125,835.05
Coins
05/19/05
08/16/05
inventoried
distributed in kind
321. 36
(321.36)
0.00
26
Commerce Bank Certificate
of Deposit #1100598
05/19/05
07/28/05
inventoried
sold
51,447.36
(51,447.36)
0.00
Dreyfus Municipal Bond Fund #54
05/19/05
08/30/06
32,473.27 shares inventoried
(32,473.27)shares sold
387,741.44
(387,741.44)
o
0.00
Dynegy, Inc.
05/19/05
460 shares inventoried
1,874.50
460
1,874.50
Fidelity PA Tax Free
Portfolio High Yield
05/19/05
07/20/05
08/31/06
15,942.631 shares inventoried
137.887 shares received
(16,080.518)shares sold
175,687.79
1,512.62
(177,200.41)
o
0.00
Fidelity Spartan Municipal
Income Fund
05/19/05
07/20/05
08/31/06
11,705.224 shares inventoried
64.434 shares received
(11,769.658)shares sold
153,572.54
843.44
(154,415.98)
o
0.00
Fifth Third Bancorp
07/14/05
331.251 shares received in mandatory
stock merger with FNB Corp at
the rate of 0.5065 shares for
each share held
(0.251)share sold
12,373.68
07/14/05
(9.38 )
331
12,364.30
27
FNB Corp
05/19/05
07/14/05
1,308 shares inventoried
(654)shares delivered in mandatory
merger with Fifth Third Bancorp
24,747.36
(12,373.68)
654
12,373.68
Legg Mason Investment Trust Income
05/19/05
07/18/05
4,984.303 shares inventoried
(4,984.303)shares sold
71,823.81
(71,823.81)
o
0.00
Legg Mason Value Trust Income
05/19/05
07/18/05
7,745.161 shares inventoried
(7,745.161)shares sold
478,883.30
(478,883.30)
o
0.00
M&T Bank Corp
05/19/05
09/05/06
4,432 shares inventoried
(l,432)shares sold
466,445.84
(150,710.84)
3,000
315,735.00
Marathon Oil Corp
05/19/05
06/20/07
100 shares inventoried
100 shares received in 2-for-1
stock split
4,617.00
0.00
200
4,617.00
Orrstown Bank Certificate
of Deposit #4000001085
05/19/05
07/12/05
inventoried
sold
31,598.04
(31,598.04)
0.00
28
Pennsylvania Insured Municipal
Income Fund Series 126S
05/19/05
01/25/06
07/25/06
01/08/07
50 units inventoried
tax free return of capital
tax free return of capital
(50) full call
9,377.00
(147.50)
(175.00)
(9,054.50)
o
0.00
Pennsylvania Insured Municipal
Income Fund Series 5S
05/19/05
06/26/06
09/25/06
12/27/06
03/27/07
06/26/07
15 units inventoried
tax free return of capital
tax free return of capital
tax free return of capital
tax free return of capital
tax free return of capital
1,232.10
(129.15)
(16.95)
(15.15)
(40.95)
(79.50)
15
950.40
Pennsylvania Insured Municipal
Income Trust 63 26 Mul. S
05/19/05
07/25/05
01/25/06
07/25/06
01/26/07
03/27/07
30 units inventoried
tax free return of capital
tax free return of capital
tax free return of capital
tax free return of capital
tax free return of capital
7,676.70
(85.20)
(102.00)
(159.90)
(184.50)
(4,230.30)
30
2,914.80
Pennsylvania Insured Municipal
Income Fund Series 7
05/19/05 10 units inventoried 6,041.20
07/25/05 tax free return of capital (413.80)
09/26/05 tax free return of capital (11.70)
12/27/05 tax free return of capital (35.80)
01/25/06 tax free return of capital (182.30)
04/25/06 tax free return of capital (230.70)
06/26/06 tax free return of capital (259.40)
07/25/06 tax free return of capital (171.80)
12/27/06 tax free return of capital (31.00)
04/26/07 tax free return of capital (240.90)
-------------- --------------
10 4,463.80
-------------- --------------
-------------- --------------
29
Pennsylvania Insured Municipal
Income Trust Series 89 S
05/19/05
07/25/05
01/25/06
07/25/06
10/25/06
01/26/07
25 units inventoried
tax free return of capital
tax free return of capital
tax free return of capital
tax free return of capital
tax free return of capital
3,853.25
(82.00)
(240.75)
(120.50)
(265.75)
(37.50)
25
3,106.75
Personal Property
05/19/05
07/12/05
inventoried
distributed in kind
3,012.00
(3,012.00)
0.00
PPL Corporation
05/19/05
08/25/05
220 shares inventoried
220 shares received in 2-for-1
stock split
12,233.10
0.00
440
12,233.10
Public Service Enterprise Group
05/19/05
250 shares inventoried
13,733.76
250
13,733.76
SBC Communications Inc
05/19/05
11/21/05
1,524 shares inventoried
(1,524)shares delivered in name
change to AT&T Inc.
36,118.80
(36,118.80)
o
0.00
Sempra Energy
05/19/05
200 shares inventoried
7,760.00
200
7,760.00
30
T. Rowe Price Tax Free
High Yield Fund
05/19/05
08/15/05
08/15/05
11/02/05
12/01/05
01/03/06
02/01/06
02/09/06
03/01/06
03/30/06
04/03/06
05/01/06
06/01/06
07/03/06
08/01/06
08/31/06
09/01/06
10/02/06
21,983.486 shares inventoried
179.088 shares received
86.37 shares inventoried
84.502 shares purchased
90.868 shares purchased
97.272 shares purchased
85.977 shares purchased
(22,607.563)shares sold
26.264 shares purchased
0.022 share purchased
0.081 share purchased
0.101 share purchased
0.106 share purchased
0.121 share purchased
0.099 share purchased
(26.794)shares sold
0.105 share purchased
(0.105)share sold
262,482.82
2,145.47
1,693.36
1,003.04
1,078.60
1,160.45
1,024.85
(270,588.59)
314.90
0.26
0.97
1. 20
1. 26
1. 43
1.18
(321.20)
1. 27
(1. 27)
o
0.00
Vanguard Insured Long
Term Tax Exempt Fund #58
05/19/05
07/22/05
02/08/06
02/14/06
11,445.438 shares inventoried
29.921 shares received
adjustment to book value
(11,475.359)shares sold
146,730.52
381.49
343.36
(147,455.37)
o
0.00
31
AT&T Corporation
02/01/06 - 05/01/07
BP PLC
09/07/05 - 06/01/07
Fifth Third Bancorp
07/29/05 - 04/19/07
FNB Corp
06/20/05 - 06/15/07
M&T Bank Corp
07/06/05 - 06/29/07
Marathon Oil Corp
09/12/05 - 06/11/07
PPL Corporation
07/22/05 - 07/02/07
RECEIPTS OF INCOME
DIVIDENDS
07/20/05 - 06/29/07
Public Service Enterprise Group
SBC Communications Inc
08/01/05 - 11/01/05
Sempra Energy
08/02/05 - 04/16/07
TOTAL DIVIDEND INCOME... ..................
32
3,108.96
9,684.78
1,145.26
1,376.67
18,696.00
307.00
1,073.60
1,282.50
982.98
476.00
38,133.75
INTEREST
$15,000 Windsor Township PA
GO Bonds 2.5% due 12/15/08
07/14/05 - 06/15/07
777.08
$25,000 First Financial Bank
Hamilton, OH 3% due 8/3/07
07/14/05 - 07/06/07
1,591.99
$25,000 Merrick Bank Corp
4.25% due 6/20/05
07/18/05
92.95
$25,000 Par Providian National Bank,
Tilton, NH 5.7% due 6/20/06
07/14/05 - 06/20/06
1,545.76
$25,000 Par Providian National Bank,
Tilton, NH 6% due 1/24/08
07/26/05 - 01/24/07
2,520.83
$30,000 Amcore Bank NA
Rockford IL 6.75% due 11/1/05
11/01/05
919.57
$30,000 Par Corus Bank NA
Chicago IL 5.75% due 6/8/06
07/14/05 - 06/08/06
1,813.68
$40,000 Par Advanta Bank Corp
Draper, UT 3.2% due 3/31/09
10/04/05 - 04/03/07
2,385.78
$40,000 Par Carrolton
Bank IL 4% due 10/13/09
10/14/05 - 04/16/07
3,040.00
$40,000 Par First Bank
Thomson GA 4% due 11/19/09
11/21/05 - OS/22/07
3,200.00
$45,000 Ambridge PA Area School
District GO 4% due 11/1/08
11/01/05 - 05/01/07
3,150.00
33
$45,000 Par Discover Bank
Greenwood, DE 4.5% due 3/23/10
09/23/05 - 03/26/07
$50,000 Par Carolina First Bank
Greenville, SC 3.7% due 4/30/09
10/31/05 - 05/01/07
$50,000 Cross Country Bank
Wilmington DE 5.7% due 5/30/06
07/14/05 - 05/30/06
$50,000 Par Covest Bane NA
Des Plaines, IL 3% due 1/9/06
10/11/05 - 01/09/06
$50,000 Par Flagstar Bank Bloomfield
HIs, MI 3.85% due 12/11/07
07/14/05 - 06/12/07
$50,000 Par First National Bank,
Reno, NV 4.25% due 6/18/09
07/14/05 - 06/19/07
$50,000 Par Gold Bank Hennessey
OK 3.65% due 2/4/09
08/04/05 - 02/05/07
$50,000 Par Gold Bank Leawood
KS 3.65% due 1/30/09
08/01/05 - 01/30/07
$50,000 MBNA America Bank
NA 7.25% due 5/19/05
07/18/05
$50,000 Midfirst Bank
OK City 4% due 7/10/06
07/12/05 07/10/06
$50,000 Pan American Fed 5B
San Mateo, CA 4.05% due 7/12/06
07/13/05 - 07/12/06
3,735.00
3,602.36
2,917.56
588.46
3,965.00
4,418.27
1,558.85
3,097.43
448.29
2,275.11
2,314.80
34
$50,000 Pennsylvania Housing Finance
Agency 5.4% due 10/1/06
10/03/05 - 10/02/06
$50,000 Pleasant Valley PA School
District 4.5% due 9/1/09
09/01/05 - 03/01/07
$55,000 Par Treasury Bank
Alexandria, VA 3.6% due 10/15/08
07/14/05 - 06/18/07
$95,000 Par Provident Bank,
Cincinnati, OH 3.75% due 9/12/08
09/13/05 - 03/12/07
Blackrock Provident Inst Temp Fund #24
11/02/06 - 07/03/07
Citizens Bank Account #6100652548
08/09/05
Citizens Bank Account #6204299976
08/09/05
Commerce Bank Certificate
of Deposit #1100598
07/28/05
Dreyfus Municipal Bond Fund #54
08/01/05 - 09/01/06
Fidelity PA Tax Free
Portfolio High Yield
08/01/05 - 09/01/06
Fidelity Spartan Municipal Income Fund
06/20/05 - 09/01/06
Legg Mason Wood
07/14/05
M&T Bank Checking Account #2674015280
06/13/05
3,690.00
4,012.50
4,106.15
6,461.98
75,738.01
27.38
207.58
238.44
19,410.30
7,796.87
7,560.12
232.72
1. 77
35
M&T Bank Money Market
Account #15004200018982
06/13/05
MetLife Life Insurance Co.
08/15/05
MTB Prime Money Market-Inst Fund #142
07/01/05 - 09/01/06
MTB PA Tax Free Money
Market-Inst I-Fund #492
09/01/06 - 10/02/06
Orrstown Bank Certificate
of Deposit #4000001085
07/12/05
Orrstown Bank Checking
Account #106002710
07/12/05
Pennsylvania Insured Municipal
Income Fund Series 126S
07/25/05 - 01/08/07
Pennsylvania Insured Municipal
Income Fund Series 5S
06/30/05 - 06/26/07
Pennsylvania Insured Municipal
Income Trust 63 26 Mul. S
07/25/05 - 03/27/07
Pennsylvania Insured Municipal
Income Fund Series 7
06/30/05 - 06/26/07
Pennsylvania Insured Municipal
Income Trust Series 89 S
07/25/05 - 01/26/07
T. Rowe Price Tax Free High Yield Fund
09/01/05 - 09-01/06
16.89
22.03
28,291.60
4,058.78
88.56
101.85
430.00
209.70
627.60
490.80
275.25
6,797.63
36
Vanguard Insured Long Term
Tax Exempt Fund #58
08/01/05 - 03/06/07
TOTAL INTEREST INCOME. ............ ........
OTHER INCOME
207 Graham Woods Road, West
Pennsboro Twp, Carlisle, PA
08/01/05 -08/31/05
Rent
Fidelity Spartan Municipal Income Fund -
Short Term Capital Gains Distribution
12/19/05
T. Rowe Price Tax Free High Yield Fund -
Short Term Capital Gains Distribution
03/30/06
Vanguard Insured Long Term
Tax Exempt Fund #58 - Short
Term Capital Gains Distribution
12/30/05
TOTAL OTHER INCOME.. ...... ................
TOTAL RECEIPTS OF INCOME........... ... ....
37
4,294.17
225,507.45
1,200.00
176.54
0.26
98.69
1,475.49
265,116.69
10/16/06 Manufacturers and Traders 618.98
Trust Company - Commission
11/15/06 Manufacturers and Traders 709.28
Trust Company - Commission
12/15/06 Manufacturers and Traders 694.93
Trust Company - Commission
01/16/07 Manufacturers and Traders 757.34
Trust Company - Commission
02/15/07 Manufacturers and Traders 717.44
Trust Company - Commission
03/15/07 Manufacturers and Traders 736.97
Trust Company - Commission
04/16/07 Manufacturers and Traders 775.49
Trust Company - Commission
05/15/07 Manufacturers and Traders 716.37
Trust Company - Commission
06/15/07 Manufacturers and Traders 719.11
Trust Company - Commission
--------------
TOTAL DISBURSEMENTS OF INCOME. . . . . . . . . . . . . . . . . . 19,403.54
--------------
--------------
39
07/15/05
08/11/05
08/15/05
09/15/05
10/17/05
10/21/05
11/15/05
12/15/05
01/17/06
02/15/06
03/15/06
04/17/06
05/15/06
06/15/06
07/17/06
08/04/06
08/15/06
09/15/06
DISBURSEMENTS OF INCOME
Manufacturers and Traders
Trust Company - Commission
Deborah W. Piper - Real Estate
Taxes - 1295 Creek Rd, Carlisle
Manufacturers and Traders
Trust Company - Commission
Manufacturers and Traders
Trust Company - Commission
Manufacturers and Traders
Trust Company - Commission
Miller Insurance Company -
Farmowners Insurance Premium
Manufacturers and Traders
Trust Company - Commission
Manufacturers and Traders
Trust Company - Commission
Manufacturers and Traders
Trust Company - Commission
Manufacturers and Traders
Trust Company - Commission
Manufacturers and Traders
Trust Company - Commission
Manufacturers and Traders
Trust Company - Commission
Manufacturers and Traders
Trust Company - Commission
Manufacturers and Traders
Trust Company - Commission
Manufacturers and Traders
Trust Company - Commission
Pennsylvania Dept of Revenue -
Fiduciary Income Tax for Year
Ending 4/30/06 - Balance Due
Manufacturers and Traders
Trust Company - Commission
Manufacturers and Traders
Trust Company - Commission
38
305.74
1,584.04
603.67
610.39
865.48
918.50
665.95
784.29
911. 73
698.76
560.34
574.56
334.87
519.27
640.35
1,453.00
436.09
490.60
DISTRIBUTIONS OF INCOME TO BENEFICIARIES
William Westcott
----------------
12/30/05 Distribution 64,046.68
04/04/06 Distribution 30,996.64
06/30/06 Distribution 26,153.80
10/02/06 Distribution 23,628.51
01/02/07 Distribution 29,706.19
04/02/07 Distribution 35,001.41
07/02/07 Distribution 34,842.77
--------------
TOTAL DISTRIBUTIONS TO BENEFICIARIES......
40
244,376.00
244,376.00
INCOME BALANCE ON HAND
Description
Blackrock Liquid Fund TempFund
Class I Fund #24
41
Current Value
or as Noted
1,337.15
Fiduciary
Acquisition
Value
1,337.15
1,337.15 1,337.15
PROPOSED DISTRIBUTIONS TO BENEFICIARIES
# Units
Current Value
Fiduciary
Acquisition
Value
or as Noted
Mellon Bank, Successor to Commonwealth National
Bank, Trustee under the Will of Camilla R.
Westcott f/b/o William W. Westcott -
100% Share of Residue
Principal:
Blackrock Provident Inst Temp
Fund #24
$15,000 Windsor Township PA GO
Bonds 2.5% due 12/15/08
$25,000 First Financial Bank
Hamilton, OH 3% due 8/3/07
$25,000 Par Providian National
Bank, Tilton, NH 6% due
1/24/08
$40,000 Par Advanta Bank Corp
Draper, UT 3.2% due 3/31/09
$40,000 Par Carrolton Bank IL
4% due 10/13/09
$40,000 Par First Bank Thomson
GA 4% due 11/19/09
$45,000 Ambridge PA Area
School District GO 4% due
11/1/08
$45,000 Par Discover Bank
Greenwood, DE 4.5% due 3/23/10
$50,000 Par Carolina First Bank
Greenville, SC 3.7% due 4/30/09
$50,000 Par Flagstar Bank
Bloomfield HIs, MI 3.85% due 12/11/07
$50,000 Par First National
Bank, Reno, NV 4.25% due 6/18/09
$50,000 Par Gold Bank
Hennessey OK 3.65% due 2/4/09
$50,000 Par Gold Bank Leawood
KS 3.65% due 1/30/09
$50,000 Pleasant Valley PA
School District 4.5% due 9/1/09
$55,000 Par Treasury Bank
Alexandria, VA 3.6% due 10/15/08
$95,000 Par Provident Bank,
Cincinnati, OH 3.75% due 9/12/08
1,524 shares AT&T Corporation
2,099 shares BP PLC
460 shares Dynegy, Inc.
331 shares Fifth Third Bancorp
654 shares FNB Corp
3,000 shares M&T Bank Corp
42
1,784,011.20 1,784,011.20
14,643.90 14,810.10
24,950.50 24,308.58
25,051.50 25,624.88
38,461.60 38,060.36
38,690.40 38,992.20
38,638.00 38,957.20
45,136.35 46,552.95
43,821.00 44,642.52
48,417.00 48,405.50
49,647.00 49,296.45
48,811.00 49,340.75
24,287.25 24,222.38
48,586.50 48,452.35
50,653.45 51,733.30
53,678.90 53,376.02
93,059.15 92,742.23
60,670.44 36,118.80
155,326.00 125,835.05
4,512.60 1,874.50
12,905.69 12,364.30
10,477.08 12,373.68
323,190.00 315,735.00
3,000 shares M&T Bank Corp 323,190.00 315,735.00
200 shares Marathon Oil Corp 12,574.00 4,617.00
15 units Pennsylvania Insured 746.25 950.40
Municipal Income Fund Series5S
30 units Pennsylvania Insured Municipal 2,480.40 2,914.80
Income Trust 63 26 Mul. S
10 units Pennsylvania Insured 4,106.00 4,463.80
Municipal Income Fund Series 7
25 units Pennsylvania Insured 2,701.75 3,106.75
Municipal Income Trust Series 89 S
440 shares PPL Corporation 20,922.00 12,233.10
250 shares Public Service 22,490.00 13,733.76
Enterprise Group
200 shares Sempra Energy 11,650.00 7,760.00
-------------- --------------
3,115,296.91 3,027,609.91
-------------- --------------
-------------- --------------
Income:
Blackrock Provident Inst Temp
Fund #24
1,337.15
1,337.15
1,337.15 1,337.15
3,116,634.06 3,028,947.06
43
AFFIDAVIT
Manufacturers and Traders Trust Company, Administrator, C.T.A. under
the Last Will and Testament of CAMILLA R. WESTCOTT, deceased, hereby declares
under oath that it has fully and faithfully discharged the duties of its office;
that the foregoing Account is true and correct and fully discloses all
significant transactions occurring during the accounting period; that all known
claims against the Estate have been paid in full; that, to its knowledge, there
are no claims now outstanding against the Estate; that all taxes presently due
from the Estate have been paid; and that more than four months have elapsed
since the first complete advertisement of the granting of letters in this
Estate.
\llC-C PRe 5 l DC ~T
Trust Company
Manufa
Subscribed and sworn
before me this C:<'l day
--r&f-
of ~I u....-
, 2007.
~""'~ a 2 {Jh4ACkJ;,-.
Not ry PubllC
f P SYLV.
L. dsa Notarial Sea1
(:M Y A. Ricbar~ Notary P bl'
oyne !Jo.ro. Cumberland C U Ie
My CommlSSlOII Expires Feb. 2~
Member, Pennsylvania Association of NOI8rte,
44