The URL can be used to link to this page

Home My WebLink About11-06-07 (2) ESTATE OF MILDRED V. HANDSHEW File No. 21-06-0992 F AMIL Y SETTLEMENT AGREEMENT THIS AGREEMENT made this ,u$-daYOf ~ ,2007, BETWEEN: ANNA JANE TRITT, BETTY JEAN BATES, and MILDRED KAY SHOTSBERGER, being the residuary legatees under the Last Will and Testament of Mildred V. Handshew, late of West Pennsboro Township, Cumberland County, Pennsylvania, AND ANNA JANE TRITT and BETTY JEAN BATES, Co-Executrices of the Estate of Mildred V. Handshew, deceased. WHEREAS, Mildred V. Handshew died October 18, 2006, testate, and under her Will left her residuary estate to the parties herein; and WHEREAS, Letters Testamentary were granted to Anna Jane Tritt and Betty Jean Bates on November 9, 2006, by the Register of Wills of Cumberland County, Pennsylvania; and WHEREAS, all assets of the late Mildred V. Handshew have been liquidated or distributed and all her debts paid in full, and further the period of four months having been terminated since the first advertisement of the issuance of Letters to the said Co- Executrices, the said parties hereto desire to waive the duty of the Co-Executrices to file a First and Final Account with Proposed Schedule of Distribution for purposes of confirmation by the Court of Common Pleas of Cumberland County, Orphan's Court Division, AND FURTHER desire that a Family Settlement WEIGLE & ASSOCIATES, Pc. - ATTORNEYS AT LAW - 126 EAST KING STREET - sHIPPENsBURG, PA 17257-1397 J Agreement be executed, which Family Settlement Agreement will be duly recorded among the deed records in and for Cumberland County. NOW, THEREFORE, WITNESSETH, that the parties hereto, in consideration of the premises above stated, and of the Accounting and Proposed Schedule of Distribution attached hereto and made a part hereof, and the receipt of their distributive shares as therein shown, do bind themselves to the said Distribution and Accounting as set forth and further mutually release Anna Jane Tritt and Betty Jean Bates, Co-Executrices, from all claims and demands whatsoever arising out of settlement of the Estate of Mildred V. Handshew. The parties hereto do further agree that should any liability come due to the estate of the said decedent after the signing of this agreement, they do hereby covenant and agree with the aforesaid personal representatives that they will contribute pro rata their shares 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 representatives after the signing, sealing and delivery of this family settlement agreement and final release. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. n ~' V-1\1t4.. ~.llR. '-:1:f:: Anna Jane Tri (SEAL) 12J.~ 9:.1 ~0134Ii1:JJAL) 'Betty Jean! 1- ' , '~1 , / ) /',-vI /2dd/urLl.li "<,c1),;;{}y)} (SEAL) Mildred Kay Shot.. erger WEIGLE & ASSOCIATES, p,c. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257-1397 COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND On this the day of ,2007, before me, a Notary public in and for said County and State, the undersigned officer, personally appeared ANNA JANE TRITT and BETTY JEAN BATES, known to me (or satisfactorily proven) to be SS the persons whose names are subscribed to the within instrument and acknowledged that they executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. (SEAL) STATE OF NEW JERSEY COUNTY OF On this the day of , 2007, before me, a Notary public in and for said County and State, the undersigned officer, personally appeared MILDRED KA Y SHOTSBERGER, known to me (or satisfactorily proven) to be the person whose SS name is subscribed to the within instrument and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. (SEAL) WEIGLE & ASSOCIATES, P.c. ~ ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257-1397 In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-06-0992 Estate of Mildred V. Handshew, Deceased Late of West Pennsboro Township Account Anna Jane Tritt and Betty Jean Bates, Co-Executors Social Security #: Tax 10 #: Date of Death: Date of Incapacity, if any: Date of Executor's Appointment: Date of First Complete Advertisement: Accounting for the Period: 168-36-7895 20-7143932 10/18/2006 None 11/09/2006 12/01/2006 10/18/2006 to 10/24/2007 Purpose of Account: Anna Jane Tritt and Betty Jean Bates, Co-Executors, offer this Account to acquaint interested parties with the transactions that have occurred during the Administration. It is important that the Account be carefully examined. Requests for additional information or questions or objections can be discussed with: Jerry A. Weigle Esquire Weigle & Associates, P .C. 126 East King Street Shippensburg, PA 17257 717/532-7388 Supreme Court 1.0. No. 01624 SUMMARY OF ACCOUNT Estate of Mildred V. Handshew, Deceased For the period of October 18.2006 throuah October 24.2007 Fiduciary Current Acquisition Proposed Distributions Paae Value Value to Beneficiaries 11 274,331.16 274,331.16 PRINCIPAL Receipts: This Account 1 480,871.22 Net Gain (or Loss) on Sales 2 or Other Dispositions 18,547.06 499,418.28 Less Disbursements: Debts of Decedent 3 301.38 Funeral Expenses 3 9,166.40 Administration Expenses 3-4 898.50 Federal and State Taxes 4 19,144.33 Commissions 4 17,404.00 Fees 4 14,426.00 Family Exemption 0.00 61,340.61 Balance Before Distributions 438,077 .67 Transfer to (from) Principal 0.00 Distributions to Beneficiaries 5 163,650.00 Principal Balance on Hand 6 274,427.67 For Information: Investments Made Changes in Investment Holdings 7 INCOME Receipts This Account 8 1.53 Net Gain (or Loss) on Sales 0.00 or Other Dispositions 1.53 Less Disbursements 9 98.04 Balance Before Distributions -96.51 Transfer to (from) Income 0.00 Distributions to Beneficiaries 0.00 Income Balance on Hand 10 -96.51 For Information: Investments Made Changes in Investment Holdings COMBINED BALANCE ON HAND 274,331.16 Verification 12 SCHEDULE A RECEIPTS OF PRINCIPAL 10/18/2006 Cash Check on hand at date of death - Prudential Financial Deposit in transit at date of death - to Orrstown Bank Money Market Checking Account #804738 Orrstown Bank Investment Account #50001047001 Accrued interest on above item through date of death Orrstown Bank Money Market Checking Account #804738 2.424.71 8.945.84, 10/18/2006 544.0Q 10/18/2006 465.121.06 10/18/2006 1.975.27 10/18/2006 10/18/2006 Accrued interest on above item through date of death 10/18/2006 Total Cash Personal Property Personal Property I - per appraisal, specifically bequeathed to spouse Personal Property II - per appraisal, specifically bequeathed to daughters Total Personal Property Total Inventory 945.00 10/18/2006 705.00 11/10/2006 Subseauent Principal Receipts Blue Cross refund of premium - credited to Orrstown Bank Money Market Checking Account #804738 prior to closing Total Subsequent Principal Receipts Total Adjustments and Subsequent Receipts 209.46 Total Receipts of Principal 1 0.88 Fiduciary Acquisition Value 479.011.76 1.650.00 480.661.76 209.46 209.46 480.871.22 SCHEDULE B GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS - PRINCIPAL Gain Loss 10/11/2007 Orrstown Bank Investment Account #50001047001 - total proceeds of liquidation Net Proceeds Fiduciary Acquisition Value 485.643.39 -467.096.33 18.547.06 TOTAL GAINS AND LOSSES/PRINCIPAL LESS LOSS NET GAIN OR LOSS 18.547.06 18.547.06 2 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Debts of Decedent 11/14/2006 State Employes Retirement System - refund of 301.38 overpayment Total Debts of Decedent 301.38 Funeral Expenses 10/25/2006 Fogelsanger-Bricker Funeral Home 9.166.40 Total Funeral Expenses 9.166.40 Administration Expenses 11/09/2006 Register of Wills, Cumberland County - Letters 452.00 Testamentary and Short Certificates 11/19/2006 Cumberland Law Journal - advertising Letters 75.00 Testamentary 12/05/2006 News Chronicle - advertising Letters 101.00 Testamentary 01/17/2007 Terry L. Shetter, Auctioneer - appraisal of 75.00 personal property 05/30/2007 15.00 R~ist,r of WilIpJJ~~erland County - filing PA I er.1tanGe - e urn 05/30/2007 Terry L. Shetter, Auctioneer - appraisal of 35.00 personal property 09/12/2007 Linda K. Klein - notary fees 22.00 09/12/2007 Weigle & Associates, P.C. - reserve for filing 100.00 Family Settlement Agreement with Register of Wills, Cumberland County 09/12/2007 Weigle & Associates, P.C. - reimbursement for 23.50 postage, xerox copies, and long distance telephone calls 3 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued Total Miscellaneous Administrative Expenses 898.50 Federal, State & Local Taxes 05/30/2007 Register of Wills, Cumberland County - PA Inheritance Tax payment at discount PA Department of Revenue - 2006 PA 40 state income tax Register of Wills, Cumberland County - PA Inheritance Tax balance due Total Taxes 18.000.00 01/11/2007 04/05/2007 505.00 639.33 19.144.33 Commissions 12/19/2006 Anna Jane Tritt, Co-Executrix - partial 8.000.00 commission 12/19/2006 Betty Jean Bates, Co-Executrix - partial 8.000.00 commission 05/30/2007 Anna Jane Tritt, Co-Executrix - balance of 702.00 commission 05/30/2007 Betty Jean Bates, Co-Executrix - balance of 702.00 commission Total Commissions 17.404.00 Fees 12/19/2006 Weigle & Associates, P.C. - partial attorney fee 2.000.00 05/30/2007 Weigle & Associates, P.C. - balance of attorney 12.426.00 fee Total Fees 14.426.00 TOTAL DISBURSEMENTS OF PRINCIPAL 61.340.61 4 SCHEDULE D DISTRIBUTIONS OF PRINCIPAL A. Kurtz Handshew OS/29/2007 Personal Property I 945.00 945.00 Anna Jane Tritt 12/23/2006 Cash - partial distribution 50.000.00 OS/29/2007 Personal Property II - items specifically 175.00 bequeathed 50.175.00 Betty Jean Bates 12/23/2006 Cash - partial distribution 50.000.00 OS/29/2007 Personal Property II - items specifically 270.00 bequeathed 50.270.00 Grace United Church of Christ 06/13/2007 Specific Bequest - Cash 2.000.00 2.000.00 Mildred Kav Shotsberaer 12/23/2006 OS/29/2007 Cash - partial distribution Personal Property II - items specifically bequeathed 60.000.00 260.00 60.260.00 TOTAL DISTRIBUTIONS TO BENEFICIARIES 163.650.00 5 # Units PRINCIPAL BALANCE ON HAND Description Cash Estate Checking Account Total Cash 6 Current Value 10/24/2007 or as Noted 274.427.67 274.427.67 274.427.67 Fiduciary Acquisition Value 274.427.67 274.427.67 274.427.67 # Units SCHEDULE F CHANGES IN PRINCIPAL HOLDINGS Orrstown Bank Investment Account #50001047001 10/18/2006 10/18/2006 10/11/2007 Personal Property I 10/18/2006 OS/29/2007 Personal Property II 10/18/2006 OS/29/2007 OS/29/2007 OS/29/2007 inventoried inventoried sold inventoried distributed inventoried distributed distributed distributed 7 Total Cost 465.121.06 1.975.27 -467.096.33 0.00 945.00 -945.00 0.00 705.00 -270.00 -175.00 -260.00 0.00 0.00 SCHEDULE G RECEIPTS OF INCOME Interest/Bank Orrstown Bank Monev Market Checkina Account #804738 11/10/2006 interest date of death to closing TOTAL BANK INTEREST TOTAL RECEIPTS OF INCOME 8 1.53 1.53 1.53 1.53 SCHEDULE I DISBURSEMENTS - INCOME Expense I INCOME 02/22/2007 PA Department of Revenue - 2006 PA 41 fiduciary income tax TOTAL DISBURSEMENTS OF INCOME 98.04 9 98.04 # Units INCOME BALANCE ON HAND Description Cash Estate Checking Account 10 Total Cash Current Value 10/24/2007 or as Noted -96.51 -96.51 -96.51 Fiduciary Acquisition Value -96.51 -96.51 -96.51 PROPOSED DISTRIBUTIONS TO BENEFICIARIES TO: Anna Jane Tritt Final Distribution - CASH -1/3 of residuary ($144,777.05) less prior distribution ($50,000.00) TO: Betty Jean Bates Final Distribution - CASH -1/3 of residuary ($144,777.06) less prior distribution ($50,000.00) TO: Mildred Kav Shotsberger Final Distribution - CASH -1/3 of residuary ($144,777.05) less prior distribution ($60,000.00) Total 11 Current Value 10/24/2007 or as noted 94.777 .05 94.777.05 94.777 .06 94.777.06 84,777.05 84.777.05 274.331.16 Fiduciary Acquisition Value 94.777.05 94.777.05 94.777.06 94.777.06 84.777.05 84.777.05 274.331.16 In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-06-0992 Estate of Mildred V. Handshew, Deceased Verification Anna Jane Tritt and Betty Jean Bates, Co-Executors under the Last Will and Testament of Mildred V. Handshew, Deceased, hereby declare under oath that they have fully and faithfully discharged the duties of their office; that the foregoing Account is true and correct and fully discloses all significant transactions occurring during the accounting period; that all known claims against the Estate have been paid in full; that, to his/her knowledge, there are no claims now outstanding against the Estate; that all taxes presently due from the Estate have been paid; and that the grant of Letters Testamentary and the first complete advertisement thereof occurred more than four months before the foregoing Account. This statement is made subject to penalties of 18 Pa. C.S.A. Section 4904 relating to unsworn falsification to authorities. ~ '-'I LtILIA a.... ~aJtQ... UU1J::. ~ ~eT~ ._-~ (jeltyJeansares Dated: /1-1--07 12