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FAMILY SETTLEMENT AGREEMENT AND FINAL RELEASE
In the estate of
GLADYSB.URQUHART
THIS F AMIL Y SETTLEMENT AGREEMENT AND FINAL RELEASE is made this
J-- 7/' day of 'J L-\ /"-/ , 2007, by and among Jerry W. Urquhart, Jr., of the Estate
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of Gladys B. Urquhart, deceased, hereinafter referred to as "Executor," and Jerry W. Urquhart,
Jr. as residuary beneficiary of the said estate (herein referred to as the "beneficiary".)
In accordance with the desire that the administration of the Estate of Gladys B. Urquhart
be terminated without the expense and delay of a court accounting, the parties hereto, in
consideration of the mutual covenants herein expressed and intending to be legally bound,
hereby agree that:
WHEREAS: Letters Testamentary of the Estate of Gladys B. Urquhart were duly issued
by the Register of Wills of Cumberland County, Pennsylvania, on May 14,2007, to Executor;
WHEREAS: Executor has gathered the assets, consisting of personal property, of the
Estate of Gladys B. Urquhart. The Statement of Account of the said Executor, which is attached
hereto and made part hereof as Exhibit "A", constitutes the assets gathered, the debts paid, the
disbursements made, and the distribution to all respective parties hereto. A copy oflthe
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decedent's Last Will & Testament is attached hereto and made part hereof as Exnfbifj'B"; ~
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WHEREAS: The balance/remainder of the Estate property has been distt~~d ~the ~
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Executor in accordance with this Family Settlement Agreement, and as stated in tlii~t~temeIif of .' .
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Account (Exhibit "A"); ::,:; -;:;'
WHEREAS: Under the provlSlons of the Last Will and Testament of Gladys B.
Urquhart, her residuary estate was given to the following beneficiaries in the fractional shares set
forth opposite their names:
Jerry W. Urquhart, Jr.
Entire Estate
NOW THEREFORE, KNOW YE, that I, Jerry W. Urquhart, Jr., Executor to the
decedent, Gladys B. Urquhart, beneficiary of the Estate of Gladys B. Urquhart, the person being
entitled to inherit under the Last Will and Testament of Gladys B. Urquhart, does hereby
acknowledge that I have been notified by Jerry W. Urquhart, Jr., in his capacity as Executor, of
full satisfaction and payment of all sum or sums of money, legacies, bequests, and devises as
given, devised and bequeathed to us pursuant to said Will, and/or the amounts to me pursuant to
said Will, which amounts I have this day acknowledged; and which amounts, are in the amounts
set opposite the Distributions to Each Beneficiary in the Statement of Account, and to be
distributed as to said Distribution Schedule in the Statement of Account, attached hereto and
made part hereof as Exhibit "A."
Advice of Counsel
I, Jerry W. Urquhart, Jr. hereby acknowledge that this Family Settlement Agreement and
Final Release contains provisions which may waive legal rights and assume legal responsibilities
and encumbrances, or has other legal consequences, and that I have been informed to seek the
advice of counsel before signing said Agreement.
The above named hereby acknowledges that he has freely chosen to sign this Family
Settlement Agreement and Final Release without the consent or advise of legal counsel. That I
was given the opportunity to seek legal counsel to review this Agreement prior to my signing,
but choose instead to sign without such counsel.
The above named acknowledges that he is of sound mind and disposition. I have read
and understand the nature and importance of this Agreement, that I consider the provisions of
this Agreement to be fair, just and reasonable, that I enter into it freely and voluntarily,
Ae:reement to waive mine: of formal account
I hereby stipulate that in order to avoid the expense and time involved in the filing of a
formal account and schedule of distribution, I agree that no account is necessary and I hereby
agree that I consent to distribution being made without the filing of an account and schedule of
distribution, with the same to be with the same force and effect as if they had been filed and
confirmed by the Orphan's Court Division of the Court of Common Pleas, Cumberland County,
Pennsylvania.
Waiver of Liability
I, Jerry W. Urquhart, Jr., hereby remise, release, quit-claim and forever discharge
Jerry W. Urquhart, Jr. in his capacity as Executor, his heirs, executors, and administrators
and assigns, of and from the said Estate and from all actions, suits, contests, payments,
accounts, reckonings, claims and demands whatsoever for, or by reason thereof, or for any
other use, matter, cause or thing whatsoever touching upon the Estate of Gladys B.
Urquhart.
Assumption of Liability
I, JERRY W. URQUHART, JR., FURTHER HEREBY COVENANT AND AGREE
THAT, SHOULD ANY LIABILITY COME DUE TO THE ESTATE OF THE SAID
DECEDENT AFTER THE SIGNING OF THIS AGREEMENT, I, AS BENEFICIARY
UNDER SAID WILL, SHALL CONTRIBUTE TO THE ESTATE IN ORDER TO
SATISFY ANY AND ALL CLAIMS, DEMANDS, SUITS OR CAUSES OF ACTION
WHICH MAY BE SUCCESSFULLY PROSECUTED AGAINST THE SAID ESTATE OR
THE AFORESAID EXECUTOR, AFTER THE SIGNING, SEALING AND DELIVERY
OF THIS F AMIL Y SETTLEMENT AGREEMENT AND FINAL RELEASE.
SIGNATURES
IN WITNESS WHEREOF, the parties to this agreement, intending to be legally bound,
hereby have set their hands the day and year first above written.
~~w?i:t~~~~
Verry w:"Urquhart, JIi j
Date
7/27/C'}
I I
AFFIDA VIT
IN THE COMMONWEALTH OF PENNSYLVANIA
COUNTY OF DAUPHIN
BEFORE ME, the undersigned authority, personally appeared, Jerry W. Urquhart, Jr.,
who being duly sworn according to law, deposes and says that the averments contained in the
within Family Settlement Agreement and Final Release are true and correct to the best of his
knowledge, information, and belief.
""v;A/i./ (hA' L4
~rry, rquhart, Jr. .
SWORN TO AND SUBSCRIBED
before me this .n!!:. day
of ~uJ..\r ,2007.
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My Commission Expires: t-f I )."5):lc.>)1
COMMONWEALTH OF PENNSYLVANIA
NoIarIaI Seal
Maureen L M Holt, NolaIy P1bIc
CIty Of Hanisbufg, Dauphi'l Cou1ty
My Commlssion Expires June 15. 2011
Member. P'mnsylvanla Association of Notaries
ST A TEMENT OF ACCOUNT:
FIRST AND FINAL ACCOUNT OF
JERRY W. URQUHART, JR., EXECUTOR
FOR
THE ESTATE OF GLADYS B. URQUHART, DECEASED
Date of Death:
APRIL 29, 2007
Date of Executor's Appointment:
MAY 14,2007
Date of First Advertisement of Letters:
JUNE 19,2007
Accounting for the Period:
APRIL 29, 2007 to
Present
Purpose of Account:
Jerry W. Urquhart, Jr., Executor,
offers this account to acquaint interested parties with the transactions that have occurred during
the administration. The account also indicates the proposed distribution of the Estate.
SUMMARY OF ACCOUNT
Value
Principal
Cash, Bank Deposits, & Miscellaneous
Tangible Personal Property:
$62,669.33
Less Disbursements:
Debts of Decedent, Funeral Expenses,
Administration Expenses and Taxes
$12,351.87
Total Balance before Distributions
Distributions to Each Beneficiary
$50,317.46
$50,317.46