HomeMy WebLinkAbout08-16-07Pa. O.C. RULE 6.12 STATUS REPORT
REGISTER OF WILLS OF CUMBERLAND COUNTY, PENNSYLVANIA
Name of Decedent: KATHRYN W. FREDERICK
Date of Death: October 17, 2006
File No.: 21-06-0957
Pursuant to Pa. O.C. Rule 6.12, I report the following with respect to completion of the administration
of the above-captioned estate:
1. State whether administration of the estate is complete:
® Yes ^ No
2. If the answer is No, state when the personal representative reasonably believes that the administration
will be complete:
3. If the answer to No. 1 is YES, state the following:
a. Did the personal representative file a final account with the Court? ^Yes ®No
b. The separate Orphans' Court No. (if any) for the personal representative's
account is:
c. Did the personal representative state an account informally
to the parties in interest?
® Yes ^ No
d. Copies of receipts, releases, joinders and approvals of formal or informal accounts may be
filed with the Clerk of the Orphans' Court and may be attac to this report. [Copy of Estate
Settlement Agreement attached.]
Date: August 16, 2007
S' nature of Pe on Filing this Form
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Capacity: ^ Personal Representative [x] Counsel
Hubet X. Gilroy ,Esquire
Name of Person Filing this Form
Martson Deardorff Williams Otto Gilroy & Faller
Address
10 East High Street
Carlisle, PA 17013
(717) 243-3341
Telephone
ESTATE OF KATHRYN W. FREDERICK
ESTATE SETTLEMENT AGREEMENT
THIS AGREEMENT, made this v~ day of~~ /, 2007, between Thomas E. Frederick,
Executor of the Estate of Kath n W. Frederi~ecutor and
r'3' ( ), Thomas E. Frederick (in
his individual capacity), and Theodore C. Frederick (collectively referred to hereinafter as
the "Beneficiaries").
WITNESSETH
WHEREAS, Kathryn W. Frederick (Decedent) died on October 17, 2006; and
WHEREAS, pursuant to the Will of the Decedent dated March 31, 1999, a copy of which is
attached hereto and marked Exhibit "A", Thomas E. Frederick was appointed Executor of
the Decedent's Estate by the Cumberland County Register of Wills by appropriate action
of the Register of Wills on October 30, 2006 and docketed at No: 21-06-0957; and
WHEREAS, the Executor has truly and appropriately administered the Estate of the
Decedent; and
WHEREAS, the Executor has filed the appropriate Pennsylvania Inheritance Tax Return
for the Estate and the Return has been audited with a determination being issued by the
Pennsylvania Department of Revenue accepting the Return as filed; and
WHEREAS, the Executor has filed the appropriate Pennsylvania and Federal Income Tax
Returns for the Estate; and
WHEREAS, the Executor has accomplished the payment of all obligations owing on the
Decedent's Estate, except for miscellaneous obligations as forth below; and
1
WHEREAS, the Executor provided the opportunity to all Beneficiaries to examine all
records of the Decedent in the possession of the Executor and to examine all records of the
Estate; and
WHEREAS, the Executor has made various partial distributions to the Beneficiaries; and
WHEREAS, the Executor is prepared to achieve the final distribution of the Decedent's
Estate subject to the reserve as set forth below; and
WHEREAS, the Executor and all Beneficiaries desire that the administration of the Estate
of the Decedent be terminated without the expense and delay of a court accounting and the
Parties are willing to enter into this Estate Settlement Agreement in order to expedite the
conclusion of the Estate; and
WHEREAS, the Executor desires to make a distribution to the Beneficiaries, pay
attorney's fees owing, retain certain funds in order to finalize any tax returns and any
other miscellaneous obligations that may accrue, with any retained funds to be distributed
to the Beneficiaries at a later date.
NOW, THEREFORE, the parties in consideration of their mutual covenants herein
expressed and intending to be legally bound hereby, agree as follows:
1
The above-named Beneficiaries hereby waive the filing of a Formal Accounting and
Schedule of Distribution in the Estate of the Decedent.
2
The parties acknowledge that they have been provided with an opportunity to examine all
paperwork and accounting of all expenses and revenues from the Estate of the Decedent.
2
3
The parties agree that the Executor may distribute the remaining assets of the Estate
equally between Thomas E. Frederick and Theodore C. Frederick subject to any retention
of funds which the Executor feels is appropriate in order to pay any taxes or contingent
bills. In the event any funds are retained and after payment of any bills, the Executor will
split equally the balance remaining between Thomas E. Frederick and Theodore C.
Frederick without any further action required by the parties.
4
The parties hereby forever release, compromise, settle and discharge any and all claims,
demands, actions or causes of actions, legal or equitable, absolute or contingent which any
of them may have against any other party hereto or against the Estate of Kathryn W.
Frederick or its Executor, Thomas E. Frederick, by reason of any matter or thing growing
out of or relating to any property or assets of said Estate, or growing out of or relating to
any act of the Executor in the administration of the Estate. This Release shall release the
Executor from all liabilities, whether due to his negligence or otherwise, which he may have
by reason of his administration of the Estate. This Release, however, shall not release the
Executor from any claims relating to fraud or claims relating to any willful action of the
Executor in failing to disclose or account for assets of the Estate which the Executor may
have received. Furthermore, this Release shall not be binding until signing of this
Agreement by the Executor and all named Beneficiaries.
5
Each party acknowledges that he/she may present this Agreement to their own private
attorney for legal advice if such parties desire such individual legal advice.
3
6
The parties agree that this Agreement shall be binding upon themselves, their successors,
assigns and personal representatives.
IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and
year first above written.
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ESTATE
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W TNESS:
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F:\F~.ES\9989\9989.3.Eahte Settkment Agreement
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Thomas E. Frederick, xecutor
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