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HomeMy WebLinkAbout10-22-07 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION In Re Estate of JUNE R. CLARK Late of Lower Allen Township Deceased No. 21-06-1016 PETITION FOR APPOINTMENT OF TRUSTEE Your petitioner, Sterling Financial Trust Company, by and through its counsel, Frank C. Chesters, Esquire, of Chesters & Miller LLP, respectfully requests that this Honorable Court grant the attached Order of Court to appoint Sterling Financial Trust Company to serve as Trustee of the June R. Clark Testamentary Trust established under Last Will and Testament dated February 2, 2005 (the "Trust"). In support thereof, Petitioner avers the following: 1. This Honorable Court has jurisdiction over this matter by virtue of Section 711(2) of the Pennsylvania Probate, Estates and Fiduciaries Code, 20 Pa. C.S. S 711(2). 2. Your petitioner is Sterling Financial Trust Company, whose principal place of business is 101 North Pointe Boulevard, Lancaster, Pennsylvania 17601-4133 ("Sterling Financial"). 3. Paragraph 5 of the Last Will and Testament of June R. Clark dated February 2, 2005 provides that the residue of the decedent's estate be distributed to Commerce Bank to hold in trust for the decedent's daughter, Betsy E. Clark, and the decedent's son, Douglas Clark Langille. A true and correct copy of the Last Will and Testament of June R. Clark dated February 2,2005 is attached hereto as Exhibit A and is incorporated in full by reference. 4. Commerce Bank does not have a trust department and hah resigned its c') ~ . ...l appointment. The original resignation of Commerce Bank is attached hereto as E~hibit..J3 arl.d';is incorporated in full by reference. , : - r','" r " , -~ . ~ _J I' =--; I '~.) t"'j C' 5. Section 7764(d) of the Pennsylvania Probate, Estates and Fiduciaries Code, 20 Pa. C.S. S 7764( d), provides that a vacancy in the office of trustee of a charitable trust will be filled in the following order of priority: (a) by a person designated in or pursuant to the provisions of the trust instrument, (b) by a person selected by unanimous written agreement of the qualified beneficiaries if the Office of the Attorney General concurs in the selection, or (c) by a person appointed by the court. 6. The Last Will and Testament of June R. Clark dated February 2, 2005 does not provide for the appointment of a successor trustee in the event there is a vacancy in the office of trustee. 7. The executor of the Estate, E. Robert Elicker, II, Esquire, contacted Sterling Financial to request that Sterling Financial serve as the trustee of the Trust since Commerce Bank does not have a trust department. 8. Sterling Financial is willing to serve as trustee of the Trust. Sterling Financial therefore respectfully requests that that the residue of the June R. Clark Estate in the amount of $476,567.28 be distributed to it for administration under the terms and conditions set forth in Paragraph 5 of the Last Will and Testament of June R. Clark dated February 2, 2005. 2 WHEREFORE, your Petitioner, Sterling Financial Trust Company, respectfully requests that this Honorable Court grant the attached Order of Court to appoint Sterling Financial Trust Company to serve as the Trustee of the Trust and to receive distribution of the residue of the June R. Clark Estate in the amount of $476,567.28. Respectfully submitted, ~c,~ Frank C. Chesters Pa. Id. No. 19273 Chesters & Miller LLP 150 North Queen Street, Suite 600 Lancaster, P A 17603 717-399-4900 3 VERIFICATION I, Christopher W. Kull, of Sterling Financial Trust Company, depose and state that I am a Senior Vice President of Sterling Financial Trust Company, and I am authorized to execute this Verification in its behalf, and that the facts contained in the foregoing Petition are true and correct to the best of my knowledge, information and belief. This Verification is made subject to the penalties of 18 Pa. C.S. S 4904 relating to unsworn falsification to authorities. Sterling Financial Trust Company c Dated: October 16, 2007 4 LAST WILL AND TESTAMENT OF JUNE R. CLARK I, JUNE R. CLARK, of Lower Allen Township, Cumberland County, Pennsylvania, being of sound and disposing 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 wills by me at any time heretofore made. 1. I direct that all my debts and funeral expenses be paid as soon as practicable after my death by my Executor hereinafter named. 2. I give and bequeath the sum of Two Thousand ($2,000.00) Dollars to my friend, KATHY HOOPER, absolutely. 3. I give and bequeath my jewelry to my daughter, BETSY E. CLARK and son, DOUGLAS CLARK LANGILLE, as follows: a) The diamond necklace and original wedding ring to my daughter; b) the diamond watch to my son; c) four diamond rings to be divided equally between my daughter and son, each to receive two. My daughter and son shall decide between themselves the rings each is to receive; d) all other jewelry not mentioned herein shall be divided equally between my daughter and son. 4. I direct that my daughter, BETSY E. CLARK, and my son, DOUGLAS CLARK LANGILLE, should each be entitled to select items of my tangible personal property having a family or sentimental significance; otherwise, all of my property of a tangible nature shall be sold and converted to cash, including my real estate, if any, and added to my other cash or intangible assets. 5. I give, devise, and bequeath the intangible assets realized from sale and other cash and intangible assets I own at my death to Commerce Bank, Lower Allen Township, Cumberland County, Pennsylvania, or its successors and assigns, as Trustee, in trust, for my daughter, BETSY E. CLARK, and my son, DOUGLAS CLARK LANGILLE, subject to the following terms and conditions: a) My Trustee is directed to pay from accumulated income and principal from the trust to my daughter, BETSY E. CLARK, the sum of Two Hundred ($200.00) Dollars monthly, and a like payment of Two Hundred ($200.00) Dollars monthly to my son, DOUGLAS CLARK LANGILLE. b) Said monthly installment payments of Two Hundred ($200.00) Dollars each to my daughter and son shall continue to be paid until such time as the accumulated income and principal has been expended, or in the discretion of the Trustee if the principal and accumulated income of the trust shall become less than Five Thousand ($5,000.00) Dollars in fair market value, and the Trustee determines it shall be uneconomical or otherwise inappropriate to continue the trust, my Trustee may, in its absolute discretion, anticipate the termination of the trust and distribute the remaining principal and accumulated income equally to the beneficiaries, absolutely. c) In the event either my daughter or son predecease the other, the payment of Two Hundred ($200.00) Dollars monthly shall continue to the survivor until the accumulated income and principal shall become less than Five Thousand ($5,000.00) Dollars in fair market value and the Trustee determines it shall be uneconomical or otherwise inappropriate to continue the trust, my Trustee, may, in its absolute discretion, anticipate the termination of the trust and distribute the remaining principal and accumulated income to the surviving beneficiary. d) In the event both my daughter, BETSY E. CLARK, and my son, DOUGLAS CLARK LANGILLE, should die before the entire principal and any accumulated income of the trust has been distributed or expended, the remaining principal and accumulated income of the trust as then constituted shall be distributed absolutely to West Shore Baptist Church, Borough of Camp Hill, Cumberland County, Pennsylvania. e) All income or principal held for the use and benefit of the beneficiaries of this trust shall not in any way or manner be subject to anticipation, assignment, pledge, sale or transfer, nor shall any such interest, while in the possession of the Trustee, be liable for or subject to the debts, contracts, obligations, liabilities or torts of the beneficiaries, or to attachments, executions or sequestrations under process of law. f) The Trustee shall receive fair and reasonable compensation hereunder. g) The Testatrix's express intent is that the Trustee shall serve without bond of any sort in any jurisdiction. h) The Trustee shall maintain accurate records and accounts, and shall render statements to the beneficiaries hereunder, showing receipts and disbursements of principal and income, no less frequently than annually. 6. I give to my Trustee the following powers in addition to those otherwise provided herein or by law: a) To invest and reinvest, alter, vary, change investments of all or any part of the trust estate in such stocks, bonds, securities and certificates as it in its discretion shall deem proper; however, the Trustee is not authorized to invest in real estate. b) To compromise claims, without the necessity of court approval. c) To pay administration expenses from income or principal, and notwithstanding any of the foregoing provisions of this will, to use such expenses as deductions for income tax purposes, as may be deemed advisable, without any requirements of making adjustments or reimbursements to the beneficiary. 7. I direct that all estate, inheritance, succession and other taxes payable by reason of my death on any property forming part of my estate for the purpose of such taxation, whether or not such property passes under my will, shall be paid out of my residual estate. I authorize my Executor and Trustee to pay all such taxes on remainder interests or future interests at such times as may be deemed advisable. 8. I hereby nominate, constitute and appoint my attorney, E. ROBERT ELICKER, II, as Executor of this my Last Will and Testament but should he predecease me or fail to qualify, then in such event, I nominate, constitute and appoint my friend, JAMES E. BLACKSMITH, D.O. as Executor of this my Last Will and Testament, and I further direct that no person serving as Executor shall be required to post any bond to secure the faithful performance of his duties in the Commonwealth of Pennsylvania or in any other jurisdiction. and seal to this my Last Will and Testament written on v? /c:."..:. -/ pages this ex:. - day of ~./! .eo? ILl ~" /;"--7(. (/ IN WITNESS WHEREOF, I have hereunto set my hand ./ S ,2005. /'l / /)/1 ~ ,../l,C~.'1'~ /r~ 0/ ',i_) 7 R. CLARK SIGNED, SEALED, PUBLISHED and DECLARED by JUNE R. CLARK, the Testatrix above named, 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 subscribed our names as attesting witnesses. ~ (SEAL) CIfrJ./rfOf'w'IV(sEAL) COMMONWEALTH OF PENNSYLVANIA : ss: COUNTY OF CUMBERLAND We, JUNE R. CLARK, -1f..)tL\ QOl'i~ , and S~i? b'(bll k:5 , the Testatrix and the witnesses, respectively, whose names are signed to the attached or foregoing instrument, being first duly sworn, do hereby declare to the undersigned authority that the Testatrix signed and executed the instrument as her Last Will and Testament, and that she had signed willingly, and that she executed it as her free and voluntary act for the purposes herein expressed, and that each of the witnesses, in the presence and hearing of the Testatrix, signed the Will as witness and that to the best of his or her knowledge the Testatrix was at that time eighteen years of age or older, of sound mind, and under no constraint of undue influence. ~~0- ~ ,,{. - Witness Subscribed, sworn to and acknowledged before me by JUNE R. CLAR,.K, Testatrix, and subscribed and sworn to before me by -1 {-IrL~ to C Y W" and , ~,SheJ(\ 1\. Dfl;nV-j' witnesses, this,). /0-<-( day of } r--Yv.-o.-.7 .2005. .,~' J'<?/t L ~ CV Cv<- Not~ry Public r-~ Notarial Seal --. I Bndg7t Ann Corcoran, Notary Public . Carhsle Boro, Cumberland County !,.,~.LComll1ission Expires June 10, 2006 f'.'r.':\ber, PFlnnsylvania Association 01 Notaries' Estate of June R. Clark Late of Lower Allen Township Cumberland County, Pennsylvania PA No. 21-06-1016 WAIVER AND RELINQUISHMENT June R. Clark died on November 4, 2006, leaving a Last Will and Testament dated February 2,2005. Paragraph 5 of said Will named Commerce Bank, Lower Allen Township, Cumberland County, Pennsylvania, as trustee to administer assets for June R. Clark's daughter, Betsy E. Clark, and son, Douglas Clark Langille with a remainder interest to West Shore Baptist Church, Camp Hill, Pennsylvania. Inasmuch as Commerce Bank does not have a trust department able to provide services contemplated by June R. Clark's Last Will and Testament, Commerce Bank waives and relinquishes its appointment as trustee and any duties and responsibilities inherent in the trust provisions as set forth in Paragraph 5 of the Last Will and Testament of June R. Clark. Further, Commerce Bank understands and has no obligation to a successor or substitute trustee being selected and appointed by the Executor and, if necessary, confirmed by the Orphan's Court. WHEREFORE, ~()y ~~V-.v\?\ ~\ , being name duly authorized as the ~-rAII NtAellb\ (v\~}JA~a of title '2. ( (.{ Commerce Bank affixes his/her hand and seal the:::; . day of GC)~h\r) .e. vI" , 2007, to this document for the purpose of waiving and relinquishing any rights as trustee in the Last Will and Testament of June R. Clark. WITNESS: