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HomeMy WebLinkAbout08-31-07 Pa. O.C. RULE 6.12 STATUS REPORT REGISTER OF WILLS OF CUMBERLAND COUNTY, PENNSYL VANIA Name of Decedent: GEORGEJ.DOULGEroS Date of Death: June 14, 2006 File No.: 21-06-0561 Pursuant to Pa. O.C. Rule 6.12, I report the following with respect to completion ofthe administration of the above-captioned estate: 1. State whether administration of the estate is complete: IllIYes DNo 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? DYes IllI 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? IllIYes DNo d. Copies of receipts, releases, joinders and approvals of fo filed with the Clerk of the Orphans' Court an b al or informal accounts may be hed to this report. Date: August 29, 2007 Capacity:,. D Personal Representative [x] Counsel / \-!J ' vu ll';.'ur." .. ~ c..i! I I' "J (j, J .....' ,),l'~ '/ ;jCJO! ..10 \w::r"J'"' :J /lu...,J i Hubert X. Gilroy, Esquire Name of Person Filing this Form Martson Deardorff Williams Otto Gilroy & Faller Address 10 East High Street Carlisle, PAl 7013 (717) 243-3341 Telephone F:\FILES\12394\12394J.srLlZ :S Wd I S 81l~ [ODZ .' ',- ! : , I ,,~ '~.J .-' l ........ Au~ 28 2007 13:20 GUEST ONE ENTERPRISE INC 7172433750 p. 1 ESTATE OF GEORGE J. DOULGERIS ESTATE SETTLEMENT AGREEMENT THIS AGREEMENT, made this 1.!!....- day o~ 2007, between John N. Doulgeris, Executor of the Estate of George J. Doulgeris (Executor), and John N. Doulgeris (in his individual capacity), James Doulgeris, Catherine McIntire and Georgia Keegan Dowgeris (collectively referred to hereinafter as the "Beneficiaries"). WITNESSETH WHEREAS, George J. Doulgeris (Decedent) died on June 14, 200(i; and WHEREAS, pursUaDt to the Will of the Decedent dated April 7, 1997, a copy of which is attached hereto and marked Exhibit" A", John N. Doulgeris was appointed Executor of the D~dent's Estate by the Cumberland County Register of Wills by appropriate action of the Register of Wills on June 22, 200(i and docketed at No: 21-06-0561; and WHEREAS, the Executor has truly and appropriately administered the Estate of the D~dent; 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 fded the appropriate Penosylvania 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 Au~ 28 2007 13:21 GUEST ONE ENTERPRISE INC 7172433750 p.2 WHEREAS, the Executor provided the opportuD.ity to all Beneficiaries to examine all records of the D~edent in the possession of the Executor and to examine all records of the Estate; and WHEREAS, the Executor has made ,,-arious partial distributions to the Beneficiaries; and WHEREAS, the Executor is prepared to achieve the final distribution of the Decedent's Estate !lubjed 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 miscenaneous obligations that may accrue, with the retained funds to be distributed to the Benefidaries at a later date upon the filing of a Final Tax Return of the Estate. NOW, THEREFORE, the parties in consideration of their mutual covenants herein expressed and intending to be legally bound hereby agree as fonows: 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 aceouDting of aU expenses and revenues from the Estate of the Decedent. 3 The parties desire to address in this Agreement certain loans the parties owed to the Estate and loans between the respective parties to include a $2S,OOO.OOobligatioD Georgia owed to A~g 28 2007 13:21 GUEST ONE ENTERPRISE INC 7172433750 p.3 the Es1ate, a 525,000.00 obligation .James owed to the Estate, a $68,361.69 obligation John owed to the Estate, and a 515,000.00 obligation that James owed to John. 4 The parties agree to distribute the remaining Estate assets in accordance with the spreadsheet attached and marked Exhibit 'B' which results in the following payments: James Doulgeris: 511,000.00 Catherine McIntire: $51,000.00 Georgia Keegan Doulgeris: $26,000.00 5 The parties hereby forever release, compromise, settle and discharge any and all claims, demands, amons 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 George J. Doulgeris or its Executor, John N. Doulgeris, 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 shan release the Executor from all liabilities, whether due to his negligence or otherwise, whieh he may have by reason of his administration of the Estate. This Release, however, shall not release the Executor from any claims relating to frand or claims relating to any willful action of the Executor in failing to disclose or account for assets of the Estate which the Exeeutor may have rec.eived. Furthermore, this Release shall not be binding until signing of this Agreement by the Executor and all named Beneficiaries. 6 In accordance with the attached Exhibit 'B', approximately S3,000 (which includes the $2,249.75 payable to the Estate) is being held in reserve for payment of attorney's fees, taxes and miscellaneous expenses. Upon the payment of those expenses and without further written approval of the parties to this agreement, the Executor is authorized to Ru~ 28 2007 13:21 GUEST ONE ENTERPRISE INC 7172433750 p.4 distribute equally between the parties the remaining IUSets of the Estate appropriately adjusted for tbe loan payable by John to the Estate. 7 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. 8 The parties agree that this Agreement shan be binding upon themselves, their successon, IUSigns and personal representatives. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. ~ ---- · t J/~~ ESTATE OF GEORGE J. DOULGERlS WITNESS: BENEFICIARIES: 1I,\FILI!S\Gm<nl\Clllftllt\l~ Settlement ~ LAST WILL AND TESTAMENT OF GEORGE J. DOULGERIS I, GEORGE J. DOULGERIS, of Carlisle, Cumberland County, Pennsylvania, declare this to be my last will and revoke any will previously made by me. ITEM ONE: I direct that all my debts and funeral expenses, including my gravemarker shall be paid from my residuary estate as soon as practicable after my decease as a part of the expense of the administration of my estate. ITEM TWO: I hereby devise to my wife, and Ann Argyros Doulgeris, a life estate in my real estate unit located at Forest Meadows Condominium, 103 Strayer Drive, Carlisle, Cumberland County, Pennsylvania, together with all of my household furnishings and effects, for so long as she shall choose to or be able to live at the said real estate. My wife shall be responsible for utilities and normal maintenance for this real estate while she occupies the property. This life estate shall terminate upon my wife's death or my wife relocating from the property and setting up residence at another location. ITEM THREE: I direct that the sum of $30,000.00 shall be set up in a Trust Account with Farmers Trust Company. The interest accrued on this money, along with any principal as required, shall be used to pay real estate taxes, condominium fees and insurance fees relating to my real estate at 103 Strayer Drive. Upon the termination of my wife's life estate for the real estate, this Trust Account shall be terminated and all monies remaining in said account shall be distributed in accordance with the remainder clause of this Will. ITEM FOUR: Upon the termination of the mentioned life estate that my wife holds in the real estate, I direct that the real estate be sold and that forty-five percent (45%) of the proceeds from the sale of the real estate shall be paid to my wife. The fifty-five percent (55%) remaining proceeds shall be distributed in accordance with the remainder clause of this Will. ITEM FIVE: I direct that the rest, residue and remainder of my estate be distributed between my four children, Catherine McIntyre, Georgia Keegan, James Doulgeris and John Doulgeris, share and share alike per stirpes. My son, John Doulgeris, is indebted to me on a loan. The balance owing on said loan, as of the date of my death, shall be charged against his share of the estate. ITEM SIX: I appoint John Doulgeris, Executor of this my last will. Should he fail to qualify or cease to act as Executor, I appoint James Doulgeris to act as Executor with the same rights, powers and duties. ITEM SEVEN: All estate, inheritance, succession and other taxes, imposed or payable by reason of my death, and interest and penalties thereon, with respect to all property comprising my gross estate for tax purposes, whether or not such property passes under this will, shall be paid out of the principal of my residuary estate, without apportionment or right of reimbursement. ITEM EIGHT: shall not be their duties I direct that my personal representative or guardian required to give bond for the faithful performance of in any jurisdiction. A @...L. . -f,rf~ "'-I~' ~~ GEORG J. DOUL ERI S EXHIBIT I A PAGE ONE OF THREE PAGES I~ NINE: In addition to the rights and powers given to the fiduciaries by law or elsewhere in this will, I give to my Executor during the full time necessary and for the administration of my estate the following rights and powers to be exercised in his sole discretion. A. To retain any real or personal property which may at any time form a part of my estate so long as he or she deems it advisable. B. To invest ih any real or personal property without restrictions to legal investments. C. To repair, alter, improve or lease for any period of time any real or personal property and to give options for leases. D. To sell at public or private sale, for cash or credit, with or without security, to exchange or to partition real or personal property, and to give options for leases. E. To make distribution in kind. F. To compromise claims. IN W~~, WHEREOF, I have hereunto set my hand this I tot day of , 1997. --t- SIGNED ~~ ~_ ~<I~~.~~ GE GEIJ. ULG I The preceding instrument, consisting of this and two other typewritten pages each identified by the signature of the Testator was on the day and date thereof signed, published and declared by the Testator therein named as and for his last will, in the presence of us, who at his request, in his presence and in the presence of each other have subscribed our names. f:1;:tA ~k,"^J COMMONWEALTH OF PENNSYLVANIA ss COUNTY OF CUMBERLAND /.fl./btf7i;t X (9/. kfJ 'f and /!;,~DC;tZ I IINtJ ~i-.b:.- Lttv..l witnesses whose names are signed to the attached or foregoing instrument being duly qualified according to law, do depose and say that we were present and saw the Testator sign and execute the instrument as his last will; that he signed willingly and executed it as his free and voluntary act for the purposes therein expressed; that each of us in the hearing and sight of the Testator signed the will as witnesses; and that to the best of our knowledge, the Testator was at the time 18 or more years of age, of sound mind and under no constraint or undue influence. f!;~f.!t(daLJ PAGE TWO OF THREE PAGES Sworn and subscribed to ,!j~ before me this I day of -Ilj'l"lL , 1997. N.....' ... KeNn F. IIyen, ..., ....... c.a-.Ioro. c--... c:..r. M ., c...Isslan EIqIna .... t' .. ~.,/ ..., ..J ?H-~ ,.:::7; '-7~)'i".Q/ Nota-::y Pub ic COMMONWEALTH OF PENNSYLVANIA ss COUNTY OF CUMBERLAND I, George J. Doulgeris, whose name is signed to the attached instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my last will; that I signed it as my free and voluntary act for the purposes therein expressed. Jir1~ ~Ji#t.~~ GEO . ULGE S-- Sworn and affirmed to and acknowledged before me this ~.~L 1997. 1;-h day of 't~' ........ ... 11_ P...,......,.... c.tIlIe Ioro. CUIlIMrWld CaunIJ, N ., O. ~ ..II .................. t, .. 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