HomeMy WebLinkAbout10-11-07
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FAMILY SETTLEMENT AND FINAL RELEASEo
ESTATE OF WILBERT M. FRY ,-- ~
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KNOW ALL MEN BY THESE PRESENTS, that Wilbert M. Fry,_~te otjhe
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Township of South Middleton, Cumberland County, Pennsylvania, deceased, ~d
testate on April 3,2007, having first made his Last Will and Testament, which was duly
executed on November 8, 2006 and probated in the Office of the Register of Wills of
Cumberland County, on May 1,2007 as File No. 21-07-00421.
WHEREAS, the said Wilbert M. Fry, by the aforesaid Last Will and Testament,
named Rose Marie Fry as Executrix of said Last Will and Testament;
WHEREAS, Letters Testamentary on the Estate of the said decedent were duly
issued by the Register of Wills of Cumberland County, Pennsylvania, to the said
Executrix, hereinafter called personal representative;
WHEREAS, the personal representative has gathered the assets of the Estate of
the said decedent and the assets consist of personal and real property with the total
value of $139,990.99 as set forth in Exhibit "A", which is a copy of the Pennsylvania
Inheritance Tax Return filed and approved by said personal representative, and which is
attached hereto and made a part hereof, and marked Exhibit "A";
WHEREAS, the debts and deductions, including the payment of inheritance tax
in the said Estate, which have now been paid, leave a balance for distribution of
$125,943.89, also as set forth in the statement of said personal representative, which is
attached hereto and marked Exhibit "B";
WHEREAS, the balance for distribution as shown in the said statement marked
Exhibit "B" has been reduced to cash and has been distributed as herein indicated in
accordance with the terms of the Last Will and Testament of the said Decedent;
NOW, THEREFORE, Rose Marie Fry, being the sole heir under the Last Will and
Testament of the said decedent, and being that person entitled to inherit under said Last
Will and Testament, does hereby acknowledge that she has this day had and received
from the aforesaid personal representative, in full satisfaction and payment of all sums
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of money, legacies, bequests, and devises as are given, devised and bequeathed to
them by the said Last Will and Testament, the amounts due her under said Last Will
and Testament, which amounts she has received this day or prior to this day; and, she
hereby stipulates that in order to avoid the expense and time involved in the filing of a
formal account and schedule of distribution, she agrees that no account is necessary
and she does hereby agree that she does consent to distribution being made without
the filing of an account and schedule of distribution, the same to be with the same force
and effect as if she had been filed and confirmed by the Orphan's Court Division of the
Court of Common Pleas of Cumberland County, Pennsylvania.
THEREFORE, Rose Marie Fry does hereby remise, release, quitclaim and
forever discharge the said personal representative, her heirs, executors, administrators
and assigned, of and from the said estate and from all actions, suits, 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 the said
decedent, and she does further hereby covenant and agree that should any liability
come due to the estate of the said decedent after the signing of this Agreement, she
does hereby covenant and agree with aforesaid personal representative, that she will
contribute pro-rata their share of the Estate to satisfy any and all claims, demands, suits
or causes of action which may be successfully prosecuted against the said Estate or the
aforesaid personal representative after the signing, sealing and delivery of this Family
Settlement Agreement and Final Release.
IN WITNESS WHEREOF, they have hereunto set their hands and seals the day
and year noted below.
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Date
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'ROSe' rie Fry
BUREAU OF INDIVIDUAL TAXES
INHERITANCE TAX DIVISION
PO BOX 280601
HARRISBURG PA 17128-0601
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
NOTICE OF INHERITANCE TAX
APPRAISEMENT, ALLOWANCE OR DISALLOWANCE
OF DEDUCTIONS AND ASSESSMENT DF TAX
REV-1547 EX AFP (06-05)
DATE 10-01-2007
ESTATE OF FRY WILBERT M
DATE OF DEATH 04-03-2007
FILE NUMBER 21 07-0421
COUNTY CUMBERLAND
ACN 101
APPEAL DATE: 11-30-2007
( See reverse side under Objections)
Amount Remittedl I
MAKE CHECK PAYABLE AND REMIT PAYMENT TO:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR RECORDS 4-
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REV-1547 EX AFP (03-05) NOTICE OF INHERITANCE TAX APPRAISEMENT, ALLOWANCE OR
DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
ESTATE OF FRY WILBERT M FILE NO. 21 07-0421 ACN 101 DATE 10-01-2007
JAMES M ROBINSON
TURO LAW OFFICES
28 S PITT ST
CARLISLE PA 17013
TAX RETURN WAS: (X) ACCEPTED AS FILED
CHANGED
If an assessment was issued previously, lines 14, 15 and/or 16, 17, 18 and 19 will
reflect figures that include the total of ALL returns assessed to date.
ASSESSMENT OF TAX:
15. Amount of Line 14 at Spousal rate
16. Amount of Line 14 taxable at Lineal/Class A rate
17. Amount of Line 14 at Sibling rate
IS. Amount of Line 14 taxable at Collateral/Class B rate
RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE
APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN
1. Real Estate (Schedule A)
2. stocks and Bonds (Schedule B)
3. Closely Held Stock/Partnership Interest (Schedule C)
4. Mortgages/Notes Receivable (Schedule D)
5. Cash/Bank Deposits/Misc. Personal Property (Schedule E)
6. Jointly Owned Property (Schedule F)
7. Transfers (Schedule G)
S. Total Assets
(D
(2)
(3)
(4)
(S)
(6)
0)
65,287.80
4,242.00
.00
.00
70,461.19
.00
.00
(S)
APPROVED DEDUCTIONS AND EXEMPTIONS:
9. Funeral Expenses/Adm. Costs/Misc. Expenses (Schedule H)
10. Debts/Mortgage Liabilities/Liens (Schedule I)
(9)
ClO)
14,047.10
.00
ell)
Cl2)
Cl3)
Cl4)
11.
12.
13.
14.
Total Deductions
Net Value of Tax Return
Charitable/Governmental Bequests; Non-elected 9113 Trusts (Schedule J)
Net Value of Estate Subject to Tax
NOTE:
19. Principal Tax Due
TAX CREDITS:
PAYMENT
DATE
ClS) 125,943.89 X 00
Cl6) .00 X 045 =
Cl7) .00 X 12
ClS) .00 X 15
Cl9)=
AMOUNT PAID
RECEIPT
NUMBER
DISCOUNT (+)
INTEREST/PEN PAID (-)
TOTAL TAX CREDIT
BALANCE OF TAX DUE
INTEREST AND PEN.
TOTAL DUE
* IF PAID AFTER DATE INDICATED, SEE REVERSE
FOR CALCULATION OF ADDITIONAL INTEREST.
NOTE: To insure proper
credit to your account,
submit the upper portior
of this form with your
tax payment.
139,990.99
]4.047.l0
125,943.89
.00
125,943.89
.00
.00
.00
.00
.00
.00
.00
.00
.00
IF TOTAL DUE IS LESS THAN $1, NO PAYMENT IS REQUIRED.
IF TOTAL DUE IS REFLECTED AS A "CREDIT" (CR), YOU MAY BE DUE
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15056041147
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REV-1500 EX (06-05)
PA Department of Revenue
Bureau of Individual Taxes. ~
PO BOX.280601 ~
Harrisburg, PA 17128-0601
ENTER DECEDENT INFORMA nON BELOW
Social Security Number Date of Death
OFFICIAL USE ONLY
County Code Year
INHERITANCE TAX RETURN
RESIDENT DECEDENT 2 1 0 7
File Number
00421
Decedent's Last Name
Suffix
Date of Birth
06201920
Decedent's First Name MI
WILBERT M
Spouse's First Name MI
ROSE M
199073000
04032007
FRY
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name Sufftx
FRY
Spouse's Social Security Number
197248079
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WillS
FILL IN APPROPRIATE OVALS BELOW
iii 1. Original Return 0 2. Supplemental Return 0 3. Remainder Return (date of death
prior to 12-13-82)
0 4. Limited Estate 0 4a. Future Interest Compromise 0 5. Federal Estate Tax Return Required
(dale of death after 12-12-82)
iii 6. Decedent Died Testate 0 7. Decedent Maintained e Living Trust 0 8. Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust)
0 9. Litigation Proceeds Received 0 10. ~~r-a~f~t~~~5fdeath 0 11. Election to tax under Sec. 9113(A)
(Attach Sch. 0)
~ORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
ame Daytime Telephone Number
JAMES M ROBINSON 7172459688
Firm Name (If Applicable)
TURO LAW OFFICES
28 SOUTH PITT STREET
REGISTER~ WILLS USgNL Y
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Second line of address
:x:;".
::r
First line of address
City or Post Office
CARLISLE
State
PA
ZIP Code
17013
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TE! FILED S?
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Correspondenfs e-mail address:
Under penalties of p,erjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief,
it is true, correct ana complete. Declaration of preparer other than the personal representative is based on all infonnation of which preparer has any knowledge.
SIGNATURE OF PERSON RESPONSIBLE FOR FILING RETURN DATE
& );('~, 9 Rose Marie Fry 7/ d-.V /1>7
ADDRESS
23 Met-Ron Court, Carlisle, PA 17015
SIG TURE OF PREPARER OT P~ESENTATIVE DATE
James M Robinson
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Side 1
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15056041147
15056041147
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15056042148
REV-1500 EX
Decedent's Name:
FRY, WilBERT M
199073000
RECAPITULATION
1. Real Estate (Schedule A).......................................................................................... 1.
2. Stocks and Bonds (Schedule B)............................................................................... 2.
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C).......... 3.
4. Mortgages & Notes Receivable (Schedule 0).......................................................... 4.
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E)................ 5.
6. Jointly Owned Property (Schedule F) 0 Separate Billing Requested............. 6.
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G) 0 Separate Billing Requested............. 7.
8. Total Gross Assets (total Lines 1-7)....................................................................... 8.
9. Funeral Expenses & Administrative Costs (Schedule H)......................................... 9.
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I)................................ 10.
11. Total Deductions (total Lines 9 & 10)...................................................................... 11.
12. Net Value of Estate (Line 8 minus Line 11)............................................................. 12.
13. Charitable and Governmental Bequests/See 9113 Trusts for which
an election to tax has not been made (Schedule J)................................................. 13.
14. Net Value Subject to Tax (Line 12 minus Line 13)................................................. 14.
TAX COMPUTATION - SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, of
transfers under Sec. 9116
(a)(1.2)X ~
16. Amount of Line 14 taxable
at lineal rate X .045
17. Amount of Line 14"iiOOible
at sibling rate X .12
18. Amount of Line 14 taxable
at collateral rate X .15
125,943.89
15.
16.
17.
18.
19. Tax Due.............. ............ ............. ............. ........... ........... ....... ...... ....... ............ ........... 19.
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT.
L
Side 2
15056042148
Decedent's Social Security Number
65,287.80
4,242.00
70,461.19
139,990.99
14,047.10
14,047.10
125,943.89
125,943.89
0.00
0.00
D
15056042148
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REV-1500 EX Page 3
Decedent's Complete Address:
File Number 21 - 07 - 00421
NT'S NAME
Fry, Wilbert M
STREET ADDRESS ----
23 Mel-Ron Court
CITY I STATE IZIP
Carlisle PA 17015
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. CreditslPayments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
0.00
3. InteresUPenalty if applicable
D. Interest
E. Penalty
Total Credits (A + B + C)
(2)
0.00
TotallnteresUPenalty (D + E)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 2 Line 20 to request a refund
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE.
A. Enter the interest on the tax due.
B. Enter the total of Line 5 + SA. This is the BALANCE DUE.
(3) 0.00
(4)
(5) 0.00
(SA)
(5B) 0.00
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred;.................................................................................. 0 [!]
b. retain the right to designate who shall use the property transferred or its income;.................................... 0 [!]
c. retain a reversionary interest; or.................................................................................................................. 0 [!]
d. receive the promise for life of either payments, benefits or care?.............................................................. 0 [!]
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without
receiving adequate consideration?...................... ................ ...................... ............... ......... ..... ....... ......... ....... ....... 0 [!]
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death?........ 0 [!]
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation?..................................................................................................................... 0 [!]
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the
surviving spouse is three (3) percent [72 P.S. ~9116 (a) (1.1) (i)).
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero
(0) percent [72 P.S. ~9116 (a) (1.1) (ii)). The statute does not exemot a transfer to a surviving spouse from tax, and the statutory requirements
for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a
natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. ~9116 (a) (1.2)).
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.S) percent,
except as noted in 72 P.S. ~9116 1.2) [72 P.S. ~9116 (a) (1)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. ~9116 (a) (1.3)]. A
sibling is defined under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
.
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SCHEDULE A
REAL ESTATE
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
21 - 07 - 00421
ESTATE OF Fry, Wilbert M
All real properw owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price
at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having
reasonable knowledge of the relevant facts. Real property which is jointly-owned with right of survivorship must be disclosed on
schedule F.
ITEM DESCRIPTION VALUE AT DATE OF
NUMBER DEATH
1 23 Mel-Ron Court, Carlisle, PA 17015 Tenants by the Entireties 65,287.80
TOTAL (Also enter on Line 1, Recapitulation) 65,287.80
.
SCHEDULE B
STOCKS & BONDS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF Fry, Wilbert M
FILE NUMBER
21 - 07 - 00421
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM
NUMBER
1
DESCRIPTION
UNITVALUE 1VALUEATDATEOF
I DEATH
42.42 4,242.00
Penn National Gaming Inc. (1/2 Interest)
TOTAL (Also enter on line 2, Recapitulation)
4,242.00
.
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF Fry, Wilbert M
FILE NUMBER
21 - 07 - 00421
Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of
survivorship must be disclosed on schedule F.
ITEM DESCRIPTION VALUE AT DATE OF
NUMBER DEATH
1 Members 1st Federal Credit Union - Acct. 132145-11 (Joint) 7,625.03
2 Members 1st Federal Credit Union - Acct. 132145-00 (Joint) 11,160.19
3 Members 1st Federal Credit Union - Acct. 132145-05 (Joint) 26.054.61
4 Bank of America - Acct. 0001-7300-0083 (Joint) 13,146.36
5 2006 Buick LaCrosse CX Sedan 4 Door 12,475.00
TOTAL (Also enter on Line 5, Recapitulation) 70,461.19
.
SCI-EDUI..E H
Fl.IERAL EXPENSES &
ArMNS1RA11VE COSTS
COMMONWEAlTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF Fry, Wilbert M
Debts of decedent must be reported on Schedule I.
FILE NUMBER
21 - 07 - 00421
ITEM
NUMBER FUNERAL EXPENSES:
A. 1 Ewing Brothers Funeral Home, Inc,
DESCRIPTION
AMOUNT
B.
ADMINISTRATIVE COSTS:
Personal Representative's Commissions
1.
Social Security Number(s) I EIN Number of Personal Representative(s):
2.
3.
Street Address
City
Year(s} Commission paid
Attorney's Fees Turo Law Offices
Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant Rose Marie Fry
Street Address 23 Mel-Ron Court
State
Zip
City Carlisle
Relationship of Claimant to Decedent
State P A
Spouse
Zip
17015
4.
Probate Fees Register of Wills
Cumberland Law Journal
The Sentinel - Legal
5. Accountant's Fees
6. Tax Return Preparer's Fees
7. other Administrative Costs
8,612.90
2,000.00
3,000.00
207.00
75.00
152.20
TOTAL (Also enter on line 9, Recapitulation)
14,047.10
EXHIBIT "B"
GROSS ESTATE
$136,990.99
LIABILITIES
A. Ewing Brothers Funeral Home, Inc.
F. Turo Law Offices
G. Register of Wills
H. Cumberland Law Journal
I. The Sentinel - Legal
TOTAL LIABILITIES
$ 8,612.90
2,000.00
207.00
75.00
152.20
$ 11,047.10
$125,943.89
AMOUNT REMAINING TO BE DISTRIBUTED
DISTRIBUTIONS:
Rose Marie Fry
$125,943.89
TOTAL DISTRIBUTIONS
$125,943.89