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Home My WebLink About12-21-07 (2) 0*" '.-.- IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA IN RE: ESTATE OF MARIE R. FONTENOY, DECEASED ORPHANS' COURT DIVISION No. 21-006-1045 EST ATE SETTLEMENT AGREEMENT filed on behalf of BARBARA A. POOLE, EXECUTRIX Counsel of Record for this Party: S. Berne Smith, Esquire PA LD. #07254 107 N. 24th Street Camp Hill, PA 17011-3602 (717) 737-6789 1 ....., c::::l -..::,::.:> _.1 CJ i '''""1 n 1',) I " -ry :x N '- Ul -- \.D EST ATE SETTLEMENT AGREEMENT This is an AGREEMENT by and between BARBARA A. POOLE, individually and as Executrix of the Estate of MARIE R. FONTENOY, Deceased, and the beneficiaries, hereinafter set forth, who covenant and agree as follows: WITNESSETH WHEREAS, Marie R. Fontenoy, died November 11,2006, having left her Last Will and Testament dated November 13, 1978, which was duly admitted to probate by the Register of Wills of Cumberland County at the above number and term November 28, 2006; and WHEREAS, Barbara A. Poole has been duly appointed as Executrix of the Estate of Marie R. Fontenoy, Deceased; and WHEREAS, the parties in interest under the Last Will and Testament of Marie R. Fontenoy, Deceased, are: Name Address Barbara A. Poole 17 South 26th Street Camp Hill, P A 17011 Donna L. Franz 1045 Newton Avenue Erie, PA 16511 Suzanne M. Modlo 3102 Liberty Street Erie, P A 16508 WHEREAS, Marie R. Fontenoy, Deceased, was not survived by a spouse; and WHEREAS, there were no specific bequests; and WHEREAS, each of the residuary beneficiary parties to this Agreement has been provided with an informal account which lists the estate's probate and non-probate assets, receipts and disbursements, (Schedule 1) and a copy of the proposed final distribution schedule (Schedule 2); and WHEREAS, it is the desire of the parties to this Agreement that final distribution of the estate be accomplished without a formal accounting to the Orphans' Court Division ofthe Court of Common Pleas of Cumberland County, it being the desire of the parties to avoid the expense, 2 delay and publicity of a formal accounting; and WHEREAS, the parties to this Agreement each acknowledge to have received their advance distribution of the residue of the estate, and upon execution of this agreement by all parties, will receive the proposed final distribution set forth in Schedule 2; NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements recited herein the parties agree as follows: 1. Each of the parties to this Agreement does hereby release and forever discharge Barbara A. Poole, Executrix, from any and all liability which may from time to time arise in connection with her service as Executrix of the Estate of Marie R. Fontenoy, Deceased. The parties do further agree to indemnify and hold harmless Barbara A. Poole, Executrix, from any and all liability which may arise against the estate from creditors or other claimants. 2. Each party to this Agreement acknowledges that this Agreement shall be indexed and recorded in the estate proceedings and that the terms hereof shall be binding upon their respective heirs, successors, administrators, and assigns. 3. This Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. Dated as of December 20, 2007. WITNESS: ./)B~~ ~a.~ Barbara A. Poole, Executrix & Beneficiary WITNESS: ~ \ \ ~ r- WITNESS: . '\j - ~H 1JAJ4f1-' I' Su e M. Modlo, Beneficiary ~\,~-~ ~~anz~~ 3 SCHEDULE 1 TO EST ATE SETTLEMENT AGREEMENT FINANCIAL DATA Attached hereto are several items of financial information which show the assets, receipts, and expenses of the Estate of Marie R. Fontenoy. This information includes interim distributions. Proposed final distributions and prior interim distributions are shown on Schedule 2. Page 1 shows both the probate and non probate assets and the beneficiaries of the non probate assets. Pages 2 and 3 show the deductions taken on the Pennsylvania Inheritance Tax return, Schedules H and 1. Pages 4 and 5 reflect the history of the Estate's savings account and checking account in the Pennsylvania State Bank. '- ASSET BENEFICIARY ACTUAL TAX PROBATE NAMED GROSS VALUE VALUE VALUE Checking Account PA State Bank Barbara $7,615.43 $3,807.72 $0.00 Savings Account PA State Bank Barbara $15,461.53 $7,730.77 $0.00 Refund from Country Meadows $2,764.27 $2,764.27 $2,764.27 Refund from Medicare Part B $2,790.52 $2,790.52 $2,790.52 Savings Bond $463.28 $463.28 $463.28 Edward Jones Mutual Fund $6,904.37 $6,904.37 $6,904.37 CD-PNC $1,982.71 $1,988.27 $1,988.27 CD - PNC $2,813.84 $2,818.25 PNC Mutual Fund $12,443.62 $12,443.62 $12,443.62 All State Annuity 3 Sisters $54,119.06 $54,119.06 $0.00 Prudential Insurance 3 Sisters $4,364.91 $0.00 $0.00 Prudential Insurance Estate $2,413.41 $0.00 $0.00 IRA - PNC Bank Donna $14,637.29 $14,639.15 $0.00 IRA - PNC Bank Donna $6,910.37 $6,931.42 $0.00 2006 Income Tax Return $3.00 $3.00 Kevin Beardsley-Funeral Prepaid $8,440.00 $8,440.00 $8,440.00 TOTALS $144,127.61 $125,840.70 $35,797.33 RE.V.l~l' EX +....4J).99) * SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS COMMONWEAL TH OF PENNSYLVANIA INHERIT ANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Marie R. Fontenoy FILE NUMBER 21-06-1045 ITEM NUMBER A 1 2 3 4 5 B 2 3. 4 7. 8 9 10 11 Debts of decedent must be reported on Schedule I. DESCRIPTION AMOUNT FUNERAL EXPENSES Kevin A. Beardsley Funeral Home - See Attachment H $844000 Transporting body to cemetery - See Attachment M Funeral flowers " Funeral dinner """ Engraving headstone - See Attachment N $552 00 $11660 $464 16 $105 00 ADMINISTRATIVE COSTS Personal Representative's Commissions Name of Personal Representative (s) Social Security Number(s) I EIN Number of Personal Representative(s) Street Address $0.00 State Zip City Year(s) Commission Paid Attorney Fees - S. Berne Smith, Esq. Camp Hill, PA 17011 Family Exemption: (If decedent's address is not the same as claimant's. attach explanation) Claimant $4,00000 $0.00 Street Address City Relationship of Claimant to Decedent State Zip Probate Fees - See Attachment 0 $152.00 5 Accountant's Fees $0.00 6 Tax Return Preparer's Fees $0.00 Estate Notice - The Sentinel Estate Notice - the Cumberland Legal Journal Additional expenses of executrix in conjunction with the funeral Postage Filing fees $129 77 $75 00 $62169 $652 $35.00 TOTAL (Also enter on line 9, Recapitulation) (If more space IS needed, Insert additional sheets of the same size) $14,697.74 REV 1~12 EX "~2-03i ~ SCHEDULE I DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Marie R. Fontenoy FILE NUMBER 21-06-1045 Record debts Incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses ITEM NUMBER DESCRIPTION Final payment of nursing home expenses to Country Meadows, Mechanicsburg, PA - Ck 172 State Farm Medical Insurance payment- Ck 173 AMOUNT $3,83177 $2,67100 1 2 3 4 5 6 7 8 TOTAL (Also enter on line 10, Recapitulation) (If more space is needed, Insert additional sheets of the same size) $6,502 77 .. PA State Estate Savings Account Date Withdrawal Explanation Deposit Interest Balance 11/29/2006 $13,608.24 $13,608.24 Nov. 30 CD&Savings Bond $5,276.99 $18,885.23 Dec. 4 S1. Farm - Medicare $2,790.52 $21,675.75 Dec. 13 Prudential & CM $5,185.19 $26,860.94 Dec. 15 Edward Jones $6,938.09 $33,799.03 Dec. 15 PNC Investments $12,572.01 $46,371.04 Dec. 22 Edward Jones $10.05 $46,381.09 Dec. 31 Interest $143.94 $46,525.03 2/5/2007 $3,500.00 Inheritance Tax $43,025.03 Mar. 31 Interest $537.38 $43,562.41 Apr. 4 $30,000.00 Inheritance $13,562.41 1-May Income Tax $3.00 $13,565.41 30-Jun Interest $178.15 $13,743.56 30-Jul $300.00 Inheritance Tax $13,443.56 9/30/2007 Interest $167.55 $13,611.11 10/31/2007 Interest $54.92 $13,666.03 10/31/2007 $13,666.03 $0.00 CHECKING ACCOUNT Check # Deposit Withdrawal Balance 11/29/2006 Opened account $929.88 12/6/2006 I nterest transferred $0.14 $930.02 12/5/2006 Deposit from savings $3,500.00 $4,430.02 12/5/2006 Register of Wills Agent 1001 $4,000.00 $430.02 4/4/2007 Deposit from savings $30,000.00 $30,430.02 4/4/2007 Donna Franz 1002 $10,000.00 $20,430.02 4/4/2007 Suzanne Madia 1003 $10,000.00 $10,430.02 4/4/2007 Barbara Poole 1004 $10,000.00 $430.02 7/30/2007 Deposit from savings $300 $730.02 7/31/2007 Register of Wills Agent 1005 $505.34 $224.68 10/31/2007 Deposit from savings $13,666.03 $13,890.71 10/31/2007 Berne Smith 1006 $2,000.00 $11,890.71 12/14/2007 PA Dept of Rev. 1007 $33.22 $11,857.49 12/14/2007 Berne Smith final fees & expenses 1008 $2,246.29 $9,611.20 12/20/2007 Donna final distribution 1009 $3,203.73 $6,407.47 12/20/2007 Suzanne final distribution 1010 $3,203.73 $3,203.74 12/20/2007 Barbara final distribution 1011 $3,203.74 0 .. '.. SCHEDULE 2 - PROPOSED FINAL DISTRIBUTION SCHEDULE AND INTERIM DISTRIBUTIONS OF PROBATE ASSETS ONLY Interim Distributions Item Date of Beneficiary Amount Distribution 1 April 4, 2007 Donna $10,000.00 2 April 4, 2007 Susie 10,000.00 3. April 4, 2007 Barbara 10,000.00 Proposed Final Distributions 4 As of 12/20/2007 Donna $3,203.73 5 As of 12/20/2007 Susie 3,203.73 6 As of 12/20/2007 Barbara 3,203.74