HomeMy WebLinkAbout94-0440
Andrew C. Sheely, Esquire
127 S. Market Street
P.O. Box 95
Mechanicsburg, PA 17055
PA 1D NO. 62469
717-697-7050 (Phone)
717-697-7065 (Fax)
ESTATE OF MORRIS KRANZEL
IN THE COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA
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ORPHANS COURT DIVISION SO c;;.o
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JOINT PETITION OF TRUSTEES AND BENEFICIARIES OF CREDIT'fHELTEM
TRUST TO TERMINATE TRUST AND EXTINGUISH RIGHTS OF BENEFICIARIE~
IN TRUST
TO THE HONORABLE, JUDGES OF SAID COURT:
Jack E. Kranzel and Stuart H. Kranzel, Co-Trustees of the
credit shelter trust established by the Last Will and Testament
of Morris Kranzel, and Jack E. Kranzel, Stuart H. Kranzel and
Burton A. Kranzel, individually, hereby file this Joint Petition
for termination of said trust and beneficial interests created
therein in accordance with 20 Pa. C.S.A. Section 6102 (a), and
respectfully state as follows:
1. Petitioners, Jack E. Kranzel and Stuart H. Kranzel, are
Co-Trustees of a credit shelter trust created for the benefit of
their mother, Lillian Kranzel, under the Last Will and Testament
of Morris Kranzel, her late husband.
2. Petitioner Jack E. Kranzel, in his individual status,
is an adult with an address of 1737 Criswell Place, Camp Hill,
Pennsylvania, 17011.
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3. Petitioner Stuart H. Kranzel, in his individual
capacity, is an adult individual with an address of 1111 Cocklin
Street, Mechanicsburg, Pennsylvania, 17055.
4. Petitioner Burton A. Kranzel, in his individual
capacity, is an adult individual with an address of 3300 13th
Avenue, Oakland, California, 94610-4013.
5. Individual Petitioners are the remainder beneficiaries
of said trust created for the benefit of their mother Lillian
Kranzel under the Last Will and Testament of Morris Kranzel.
6. Lillian Kranzel died on July 2, 2007.
7. As of December 19, 2007, the credit shelter trust
maintained a cash balance available for distribution of
$420,645.41 to the individual petitioners and remainder
beneficiaries.
8. Prior to the death of Lillian Kranzel, beneficiary
Burton A. Kranzel was advanced an amount of $76,200.00 from the
Co-Trustees of the credit shelter trust.
9. Presently, an amount of $496,845.41 ($420,645.41 and
$76,200.00 loan to Burton) is available for distribution to the
beneficiaries of the credit shelter trust.
10. As of July 2, 2007, beneficiary Stuart H. Kranzel was
indebted to the Estate of Lillian Kranzel in the amount of an
updated calculation of $213,438.41 in accordance with an Order
2
of Court docketed to the Estate of Morris Kranzel at 21-94-440.
11. In accordance with the terms and conditions set forth
in a Settlement Agreement attached hereto as Exhibit "A", the
Co-Trustees and Beneficiaries named herein have agreed to
allocate an amount of $150,000.00 from the proceeds payable to
beneficiary Stuart H. Kranzel to the Estate of Lillian Kranzel
and Petitioners hereby agree to issue payment of said amount
directly to the Estate of Lillian Kranzel.
12. Termination of the credit shelter trust and
distribution of proceeds as requested herein is consistent with
the terms and conditions of the Last will and Testament of
Morris Kranzel.
13. Termination of the credit shelter trust and
distribution of proceeds as requested herein is consistent with
minimizing further duties of the Co-Trustees of the credit
shelter trust and will minimize further costs, expenses and
delays of payment to the beneficiaries named herein.
14. Termination of the credit shelter trust and
distribution of proceeds as requested herein will assist with
resolving claims by the Estate of Lillian Kranzel against
beneficiary Stuart H. Kranzel.
15. Termination of the credit shelter trust and
distribution of proceeds as requested herein will not materially
3
prejudice the rights of any creditors of the credit shelter
trust or any creditor of any named beneficiary of the credit
shelter trust.
16. Any and all required inheritance taxes and estate taxes
associated with distributions to the beneficiaries named herein
were duly reported, paid and accounted for as part of the Estate
of Morris Kranzel, (as per Department of Revenue clearance
letter attached hereto as Exhibit UBU).
17. Termination of the credit shelter trust and
distribution of the proceeds as requested herein will not
materially prejudice the rights any state or federal agency,
including the Pennsylvania Department of Revenue.
18. Co-Trustees and beneficiaries request the following
distributions to be made from the credit shelter trust fund for
the benefit of Lillian Kranzel, as follows:
A. A check issued by the Co-Trustees of the credit
shelter trust fund payable to Jack E. Kranzel in the amount
of $164,615.13, said amount to be charged against and
allocated to the share of Jack E. Kranzel due him from the
credit shelter trust fund as established by the Last Will
and Testament of Morris Kranzel; and
B. A check issued by the Co-Trustees of the credit
shelter trust fund payable to Stuart H. Kranzel in the
amount of $14,615.14, said amount to be charged against and
allocated to the share of Stuart H. Kranzel due him from
the credit shelter trust fund as established by the Last
Will and Testament of Morris Kranzel; and
4
C. A check issued by the Co-Trustees of the credit
shelter trust fund payable to the Estate of Lillian Kranzel
in the amount of $150,000.00, said amount to be charged
against and allocated to the share of Stuart H. Kranzel due
him from the credit shelter trust fund established by the
Last Will and Testament of Morris Kranzel; and
D. A check issued by the Co-Trustees of the credit
shelter trust funds payable to Burton A. Kranzel in the
amount of $88,415.14, said amount to be charged against and
allocated to the share of Burton A. Kranzel due him from
the credit shelter trust fund as established by the Last
Will and Testament of Morris Kranzel, said share amount
also being reduced by the outstanding loan amount advanced
to Burton A. Kranzel in the amount of $76,200.00 from the
Co-Trustees of the credit shelter trust; and
E. A reserve amount of $3,000.00, together with
additional interest accumulated on said credit shelter
trust fund occurring after December 19, 2007, shall be
established by the Co-Trustees and distributed equally to
the beneficiaries after payment of all lawful bills and
expenses arising after December 19, 2007.
19. The distribution of the amounts set forth above in
paragraph 18 is intended to account for, settle and release any
and all claims which the named beneficiaries have against the
CO-Trustees, against themselves as individuals and against
themselves as beneficiaries of the credit shelter trust fund as
established by the Last Will and Testament of Morris Kranzel.
20. No hearing is necessary as a result of the Agreement
attached hereto as Exhibit HA".
WHEREFORE, Co-Trustees Jack E. Kranzel and Stuart H.
Kranzel, together with individual beneficiaries Jack E. Kranzel,
Stuart H. Kranzel and Burton A. Kranzel, respectfully request
5
this Honorable Court to enter an Order of Court approving the
distribution of proceeds as requested herein as agreed to in the
attached Agreement, and further enter an order terminating said
credit shelter trust for the benefit of Lillian Kranzel
established under the Last Will and Testament of Morris Kranzel.
Respectfully submitted,
..-
Date: ,JtAftIA",ClIJ7 7 , 2008
Andrew C. Sheely, Es ire
Attorney for Co-Trustees
PA 1D No. 62469
P.O. Box 95
127 S. Market Street
Mechanicsburg, PA 17055
717-697-7050
6
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Andrew C. Sheely, Esquire
127 S. Market Street
P.O. Box 95
Mechanicsburg, PA 17055
PA ID NO. 62469
717-697-7050 (Phone)
717-697-7065 (Fax)
ESTATE OF MORRIS KRANZEL
IN THE COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA
ORPHANS COURT DIVISION
21-94-440
AGREEMENT TO TERMINATE TRUST
IN RE: ESTATE OF MORRIS KRANZEL CREDIT SHELTER TRUST
PARTIES TO AGREEMENT
1. Jack E. Kranzel and Stuart H. Kranzel, CO-Trustees of
the credit shelter trust established under the Last will and
Testament of Morris Kranzel for the benefit of Lillian Kranzel.
2. Jack E. Kranzel, individually, is an adult with an
address of 1737 Criswell Place, Camp Hill, Pennsylvania, 17011.
3. Stuart H. Kranzel, individually, is an adult with an
address of 1111 Cocklin Street, Mechanicsburg, Pennsylvania,
17055.
4. Burton A. Kranzel, individually, is an adult individual
with an address of 3300 13th Avenue, Oakland, California, 94610-
4013.
5. Estate of Lillian Kranzel, by and through Jack E.
Kranzel, Executor.
SUBJECT OF AGREEMENT - DIVISON OF CREDIT SHELTER TRUST
WHEREAS, in accordance with the Last Will and Testament of
Morris Kranzel submitted for Probate in the Court of Common
Pleas of Cumberland County, Pennsylvania, a credit shelter trust
was 'established and administered by Jack E. Kranzel and Stuart
H. Kranzel, CO-Trustees, for the benefit of Lillian Kranzel,
surviving spouse of Morris Kranzel; and
WHEREAS, Jack E. Kranzel and Stuart H. Kranzel, Co-Trustees
of the credit shelter trust, duly served and administered the
provisions of the credit shelter trust in accordance with the
provisions of the Last will and Testament of Morris Kranzel;and
"
WHEREAS, Lillian Kranzel died on July 2, 2007; and
WHEREAS, Stuart H. Kranzel, individually, is obligated to
pay a debt with a balance as of the date of his mother's death,
as calculated by James Lyon of Greenawalt & Company in the
amount of $213,438.41, plus accumulated interest thereon, in
accordance with an Order of Court dated May 12, 2006, as now
modified and partially forgiven by the terms of this agreement
to an amount of $150,000.00; and
WHEREAS, Burton A. Kranzel, individually, received a sum in
the nature of a loan in the amount of $76,200.00 from the Co-
Trustees of the credit shelter trust prior to the death of
Lillian Kranzel.
WHEREAS, as a result of the death of Lillian Kranzel, the
purposes and intent for maintaining of the credit shelter trust
are no longer required and the parties to this Agreement desire
to terminate said trust and distribute the proceeds of said
Trust to the named beneficiaries in accordance with the terms of
this Agreement, subject to the adjustments for the obligations
of Stuart H. Kranzel to the Estate of Lillian Kranzel and the
loan of funds received by Burton A. Kranzel; and
WHEREAS, the credit shelter trust maintained a cash balance
available for distribution of $420,645.41 as of December 19,
2007, in accordance with a December 1, 2007 statement which has
been made available to all parties hereto; and
NOW THEREFORE, in consideration of good and valuable
consideration, including the terms and conditions contained
herein, it is hereby stipulated and agreed as follows:
1. The credit shelter trust shall be terminated by Petition
and Court Order in form approved by all parties without further
hearings.
2. An amount of $3,000.00 and additional interest earned
on the principal of the funds held by the credit shelter trust
held for the benefit of Lillian Kranzel shall be set aside by
the' Jack E. Kranzel and Stuart H. Kranzel, CO-Trustees, for
payment of costs and expenses associated with trust termination,
including the payment of any accounting, legal fees and filing
of any required income tax returns or 1099 forms, for the
benefit of the Trust occurring after the death of Lillian
Kranzel in 2007; and
2
3. Stuart H. Kranzel. As a result of an Agreement between
Jack E. Kranzel in his own right as a beneficiary of the Estate
of Lillian Kranzel and as Executor of the Estate of Lillian
Kranzel, and Stuart H. Kranzel, individually, as a beneficiary
of the Estate of Lillian Kranzel, and Burton Kranzel,
individually and as a beneficiary of the Estate of Lillian
Kranzel, the share of Stuart H. Kranzel from the credit shelter
trust fund shall be divided, allocated and paid as follows:
A. An amount of $150,000.00 shall be issued by Jack E.
Kranzel and Stuart H. Kranzel, Co-Trustees of the credit shelter
trust from an account maintained at Wachovia Bank, payable to
the Estate of Lillian Kranzel in full settlement of all claims
which the Estate of Lillian Kranzel has against Stuart H.
Kranzel in relation to the aforesaid loan and debt pursuant to
the Order of Court dated May 12, 2006; and
B. The remaining amount of $14,615.14 shall be issued by
the CO-Trustees of the credit shelter trust funds from an
account maintained at Wachovia Bank, payable to Stuart H.
Kranzel, in full settlement of all claims, interest, demands and
charges which Stuart H. Kranzel has against the Co-Trustees of
the credit shelter trust and the Estate of Morris Kranzel,
subject only to his one third claim in the net amount held in
Escrow by the Co-Trustees as established in paragraph 1 above.
4. Burton A. Kranzel. An amount of $88,415.14 shall be
issued by Jack E. Kranzel and Stuart H. Kranzel, Co-Trustees of
the credit shelter trust, from an account maintained at Wachovia
Bank, payable to the Burton A. Kranzel, in full settlement of
all claims, demands and charges he may have against the Jack E.
Kranzel and Stuart H. Kranzel, Co-Trustees of the credit shelter
trust and the Estate of Morris Kranzel. Further, Burton A.
Kranzel represents that the amount paid to him as set forth in
this paragraph represents his one-third interest in the proceeds
of the credit shelter trust, less the amount of $76,200.00 which
was previously loaned to him prior to the death of Lillian
Kranzel; and
5. Jack E. Kranzel. An amount of $164,615.13 shall be
issued by Jack E. Kranzel and Stuart H. Kranzel, Co-Trustees of
the'credit shelter trust fund from an account maintained at
Wachovia Bank, payable to the Jack E. Kranzel, in full
settlement of all claims, demands and charges he may have
against Jack E. Kranzel and Stuart H. Kranzel, CO-Trustees of
the credit shelter trust and the Estate of Morris Kranzel.
3
6. Tax consequences. Stuart H. Kranzel, individually,
Burton A. Kranzel, individually, and Jack E. Kranzel,
individually, together with Jack E. Kranzel and Stuart H.
Kranzel, CO-Trustees of the credit shelter trust, agree and
stipulate that said trust shall issue any and all required 1099
forms for interest earned by the credit shelter trust from and
after the date of death to Lillian Kranzel, equally, to Stuart
H. Kranzel, individually, Burton A. Kranzel, individually, and
Jack E. Kranzel, individually, for income tax report purposes.
7. Mutual Releases. Jack E. Kranzel and Stuart H. Kranzel,
Co-Trustees of the credit shelter trust established by the Last
will and Testament of Morris Kranzel for the benefit of Lillian
Kranzel, Jack E. Kranzel, individually, Stuart H. Kranzel,
individually, and Burton A. Kranzel, individually, hereby agree
and stipulate as follows:
A. Jack E. Kranzel and Stuart H. Kranzel, Co-Trustees
and Jack E. Kranzel, individually, Stuart H. Kranzel,
individually, and Burton A. Kranzel, individually, each
individual a beneficiary in the above-captioned estate and
the credit shelter trust created thereunder, have received
the December 1, 2007 account balance in credit shelter
trust fund and have been afforded an opportunity to examine
a final accounting, being informal or otherwise, and have
agreed to waive a formal accounting of the administration
of the subject estate and the filing of such an account for
court audit of further hearings.
B. Jack E. Kranzel and Stuart H. Kranzel, Co-Trustees
and Jack E. Kranzel, individually, Stuart H. Kranzel,
individually, and Burton A. Kranzel, individually, each
individual a beneficiary in the above-captioned estate and
the credit shelter trust created therein, intending to be
legally bound and in consideration of the immediate
termination of the subject trust and distribution to the
undersigned of the corpus thereof, without the delay
incident to the preparation and submission of a formal
accounting of the administration of the trust and estate as
aforesaid, hereby:
i. Represents and warrants that each undersigned
has read and understands this instrument and that the facts
set forth above are true and correct to the best of the
undersigned's knowledge, information and belief.
ll. Subject to the distributions contained
herein and approval of the petition to terminate the credit
4
shelter trust by Order of Court and Joint Petition, hereby
waives the filing of a formal accounting of the
administration of the trust before the court having
jurisdiction over this estate and credit shelter trust.
iii. Requests that Jack E. Kranzel and Stuart H.
Kranzel, CO-Trustees of the credit shelter trust, make
distribution of the balance of the cash account maintained
with Wachovia Bank in the amounts set forth above in
paragraph 4 of this Agreement; and
iv. Agrees to refund to Jack E. Kranzel and
Stuart H. Kranzel, Co-Trustees of the credit shelter trust,
any amount which may at any time be determined to have been
an erroneous distribution to the undersigned regardless of
the cause of such erroneous distribution.
v. Agrees that any period for the limitation of
actions and the collection of any erroneous distribution to
the undersigned shall commence only at such time as Jack E.
Kranzel and Stuart H. Kranzel, Co-Trustees of the credit
shelter trust, shall have obtained the actual knowledge of
such erroneous distribution and that in no event shall the
period for collection of an erroneous distribution be less
than two (2) years after the actual discovery thereof by
the above-named fiduciaries.
vi. Agrees to refund to the above-named
fiduciaries and credit shelter trust in the event any claim
is made by any other person claiming an interest in the
above-named credit shelter trust, to the extent such party
has a legally recognizable interest.
Vll. Absolutely and irrevocably remises,
releases, quit-claims and forever discharges Jack E.
Kranzel and Stuart H. Kranzel, Co-Trustees of the credit
shelter trust, in their fiduciary and individual
capacities, from any and all actions, suits, payments,
accounts, reckonings, liabilities, claims and demands
relating in any way to the administration of the trust.
Vlll. Agrees to indemnify and hold harmless, to
the extent of the funds received by the undersigned
hereunder, Jack E. Kranzel and Stuart H. Kranzel, Co-
Trustees of the credit shelter trust, in their fiduciary
and individual capacities, from and against any and all
claims, losses, liability or damage (including legal fees
and costs in connection therewith) which the above-named
5
fiduciaries may suffer or to which the above-named
fiduciaries may be subjected by reason of their
administration of the trust, the settlement of their
account and a distribution of the assets of the estate
without having the formal approval of the court having
jurisdiction over this trust and estate.
ix. Declares it to be the undersigned's
intention that this instrument shall be governed by the
laws of Pennsylvania and shall be legally binding as an
agreement upon the undersigned and upon the undersigned's
heirs, executors, administrators, successors and assigns.
Executed this 31~~ay of Dece.1VI ~~ r
, 20OJ.
fk oAJCZS
I Witness .
(SEAL)
. c E. Kranzel, Co- r stee
f the credit shelt trust
established under the Last
Will and Testament of Morris
Kranzel
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(SEAL)
e , Co-Trustee
of the credit shelter trust
established under the Last
Will and Testament of Morris
Kranz 1
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WJ.tness
art H. Kr nz
Individually
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Witness' /k~- ~I ~1 &,:, .',K zel, (;:-~/-"+ 9-
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xecutor
Kranzel
6
STATE OF PENNSYLVANIA
COUNTY OF GUMBe() UNJ)
SS.
On this, the,/JAday of-SCtf/\U(~V",/ ' 200~ before me, the
undersigned officer, personally appeared Jack E. Kranzel,
individually, and in his capacity as CO-Trustee of the credit
shelter trust as established under the Last Will and Testament
of Morris Kranzel, and as Executor of the Estate of Lillian
Kranzel known to me (or satisfactorily proven) to be the person
whose name is subscribed to the within instrument and
acknowledged that he executed the same for the purpose therein
contained.
IN WITNESS WHEREOF, I have hereunto s~t my hand and official
seal.
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NOTI\R!.~L SEAL
l'EQ(Y Ill. KNlSaY, Nottr1 Public
~ Born, Cumbe.1and Co.
My CommIsIaIoR l:xplra Nov. 19, 2010
STATE OF PENNSYLVANIA
COUNTY OF CUM8eJZ L,./t-NO
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On this, the day of ~c....y , 200g', before me, the
undersigned officer, personally appeared Stuart H. Kranzel,
individually, and in his capacity as Co-Trustee of the credit
shelter trust established under the Last Will and Testament of
Morris Kranzel, known to me (or satisfactorily proven) to be the
person whose name is subscribed to the within instrument and
acknowledged that he executed the same for the purpose therein
contained.
SS.
IN WITNESS WHEREOF, I have hereunto set my hand and official
seal.
, .-.NOTAAlAL SEAl
~~l*GrvPublrc
....-ar~ Ioro, ~ Co.
n, 1m ".. &phi New. 19,2010
7
STATE OF CALIFORNIA
COUNTY OF 'A.\LA.('A.e& C\
SS.
On this, the ':f>\ day of ~ece~~\oet, 200"7-, before me, the
undersigned officer, personally appeared Burton A. Kranzel,
known to me (or satisfactorily proven) to be the person whose
name is subscribed to the within instrument and acknowledged
that he executed the same for the purpose therein contained.
IN WITNESS WHEREOF,
seal.
8 ZARINA OMAR RATHOD
- Cornmllllon /I '749298
i. Notary PUblic . California IE
J.'_ _ _ _ _~~~;~~j
I have hereunto set my hand and official
-~~\d)C~
Notary Public
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STUART H. KRANZEL,
Petitioner
IN THE COURT OF COMMON PL EAS OF
CUMBERLAND COUNTY, PENNSYL VANIA
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vs. ORPhANS' COURT DIVISION
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LILLIAN KRANZEL and, 21-94-440
JACK E. KRANZEL,
Respondents
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IN RE: REQUEST FOR HEARING.
ORDER
I.
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AND NOW, this 12 ~ day of May, 2006, after hearing, the court adopts the
retrospective amortization schedule ref1ected in the exhibits offered at hearing and finds that as
f
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of April, 2006, the amount owed by Stuart H. Kranzel to Lillian Kranzel is $204,082.02. He is
directed to resume the making of monthly payments in the amount of $1 ,000.00. The first
monthly payment to be due within thirty (30) days hereof.
BY THE COURT,
Steven E. Grubb, Esquire
For the Petitioner
Richard Snelbaker, Esquire
Keith Brenneman, Esquire
For Lillian Kranzel
David A. Fitzsimons. Esquire
For Jack E. Kranzel
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API'lIADEflI!IIT. ALLOIfMCI! 011 DDALLtIlMNCI
lII' IIIIUCTDIIla AlII AUlIIIIlIIfT 1IF TAIl
ACN 101
DATI 03-06-95
PILI NO.
ItATI OF HATH 03-25-94 CGUIITV CUMHRLANI
NOTII TO 1_ ..... CMDIT 111 YlIUI M:ClIlIIIr, .-rt ... ... .-nIII . TIlU ,.. WI'" v-. TAll
PAYIIINT TO TIlE IIR!ST!I or llILLI. ..." ~ P'lIYMLI Te '___It'1Il . IfILLS. ~
RIMlT Il'AYMI!NT TOI
CHARLES E SHIELDS lIt
2 If MAIN ST
MECHANICSIURG PA 17055
RE8ISTER OF WILLS
CUM. ERLAND CO COURT HOUSE
CARLISLE. PA 17113
-.unt .....t..
CUT ALOfte THII UN! ..... ItITAIN LCNIR fJOItTlOft FOIl YOUIl RICIIRDI ~
itIY:ii4"'-iY-AJp.rl'i:"Y-N01'f~-:?J-Yiiiiitl'tl&-T'Ii-11lAA-iiiiii"T,.-ALi.1iWAiiC1-01(-.---------------
, .,' DIIALLOIIANcI DF HIUCTI_ ANI A..........,. OF TAX
I!ITATI.OF I(RAHZEL MORRlS JlILI NO. 21 94-0440 ACIt 101 UTI 03-0'-95
TAlC IlITUIlII lIASl I X) IlCCIf'1D AI 'UB
RUUW.TioN ClONCIRNINI PU11I1IlI INTIIlIIT - III HYDI'
~IIRAI'I!D VALUI OF RETURN ula ONI oRiel HAL
. . 1....l:.lImt. I~. Al (1)
2. ItClC!kt ..... ....... .lsOheclu1. I) I ZJ
J.Clo..l~ lteld Itock/hrb.rth~ Int...... 1......1. CI (I)
_. Ilort....t/IIIIt.. IteM......l. lkhedul. D) 1_)
I. CuIVlI.... o.,...lhIMI... ,...._1 ".........t~ (......11 nIl)
.. Jointly 0IIIlM ~ llehlldul. t') (61
7. T.......~..... (Sehedul. In 17)
e. Tatel A...ta
I ) CllMIED
.00
.00
.00
.00
10D.01~.OO
.00
2ao.o~o.8D
II)
300.045.00
APPlOYID DlDUCTIONI AND EXEMPTIONS,
,. F.-_l 1__.'Ade. c...t./IU_. 11__ 1......11 H) I')
U. _t.,...,.~ U_lut...,U..... 1.....1. II nl) _ DD
11. Totel ......UlII'I. 1111
~2. ...t Vel_ at TM ..turn nZ)
15. a-U...lel'lIo_tti .....ta l.....le .I) IlS)
.l.~. ...t ""1.. .f btet. -Jeot t. Tee ll_J
NO'rlll' X1'." ........-n: ... i.."," 1l'.....iuu.l1/, l.tl.. "'''t 15 ....,.0.. 16, 17 ... 1. wU:L
l'.-fl.gt fi.u.... t:1l11't ina~ t:he t:otal Df' aJJ. 1'ftUf'M ....Ad 1:0 date.
A......HfO' TAXc
. .1Il. MoUnt of l.ine 14 .t ~..l ...te (ll) .00 X' 00.
.'i.6. ......t 01 Line 1_ t..eIIl. .t Ls..-UC1... A ...t. (16) 263,632.05 X .16.
17. ,~t of UnII 1_ t.,...l. .t CD11lltw81/Cle8. I,..t. (17) . DO X . 1 S.
~,''''.lno~~1 T.. ~ (18)
TAX CRIDJTes
"AYHI!NT
DAti,
6- -
12-22:.'.... .
15,912.95
1~ 017 filii
Z16,132.05
22.500.00
265,632.05
.00
15,117.92
.00
15,117.92
DIKUUNT I.)
DIT!IlIIT <<-)
AIDlIfT 'AID
:00
7;811:92
:'l
TOTAL TAX CRalT
ULAHCI OF TAX DUI
INTIRIIT
TOTAL DUI
15,117.92
.00
.00
.00
. IF'''AtD ArTEI.DAT! INDICATED, lEE IIVIRI!
FUR CAl.CULATION OF ADDITIOIU/.. INTEftST.
( IF TOTAL DUE IS LZII TIIAII n, NO 'A'mENT %I 1I!lIU:tItlD.
:rP TOTAL DIll IS Il!FLICTU AS A "ClIEDIT" ICII, YOU IlAY I. DUE
A 1Ill'1IIID. lEE RIVERlE 1l1li Of THIS ~Ollll ~0Il 1,.'rllUelllllll.)
1. Ro<ll EstojejScl1edul. AI ( 1) _._-.-AltiNL__.__._
2: ~tOclis and 8Qnd. (Schedule 8) ( 21 .__...l.!lJJI(,E._'H__
3.'ClaitlyHeld StockIPo"nlJ~hip Interest (Schedule q (3) _______NlilfIf__
A. Mortgogos one! NO'es Receivoble ISdledul. 0) ( 4) _..._~. ...--..-.
5: tcisk;'Sonk D~osijs & MI,cellaneou. Personal Pr""erty( 5) _. ..__!!.. I "O,9'.s:..~~..
. (Sct1edule . E)
6. Jointly Owned Properly (Schedul. FI ( 61 ___/y~.._____._
7. Tra..f... (Schedule G) (Schedule L) ( 7) _..! .;J.(JO,p3o.~_ ,
8. ToIal Gro.. A..... (Iotal.line. 1-7) " I 8) _._. .~+-{2.'!f~___
9. Funoral hpe.s." Admlnl.lralive Cast., MI.cellaneou. ( 9) __~.J.LA. 'i S' . .___
Expenses (Schedul. HI
10. Debts, ~ortgog. L1obll"les, Lim. (Sd.edule I) (10) ._----.t('!~{ .------. !
11. To,~ID~udians(tolal~n..9& 10) (Ill __.__~~.J..'t.~.'E-
12. "1.1 Valu. 01 eotat. (lIn. 8 minus lin. 11) (12) .___;J,8_~d}S..._
13. Cho,ijabl. and Govornm.ntgl a.qulSts (Schedule J) (13) . =-. &~ ' - -
,~. Net Value Subltd to To. (line 12 mlnuslln. 13) ("') _fJ(,.3, '~.t'.~
,,--- .._...._.~ --.-.-.--..---...-.-....---'7-.---
IS. Amount ollin. 14 ta.abl. at 6'11. rote (15)__. __~.~-~:!. /)5:._'1< .06 - _.:g~j 7:1i!...._.._
(Indude values from Schedul. k or Sch.dule M.I
16. Amount alline 14la.able at 15% rote (161_..._..__. .~1!!.€._x .IS. _._._..LJ:~AlE_.__..
(Indud. valu.. lrom 5th.dule K or Schedul. M.l
17. Prlncipaltoxdu.(Addto. fromlifte 15 and Irom line 16.) 1171 ._.' "1..~.1Lz..?_L-_
l_e.Cred~. prior Poymont. I Olscavftt Interes' If
... #-~.WlO'~_.. + ~ft.~t?.:...~_ _ _ _.......!?.__ __ (l81._._./i,,/JO()":"~---
19. If I'~e 181. greater t~an IIn. 17, .nter Ihe dlff.rence on line 19. This Is t~e OVERPAVMiNT. (19) ._.._.... NAM.._______
t IiIO..IIIII.I....._._-_..~,...W'O_.... lIfURr
20 IIlhie 17 Is greater thon Iln. 18, .nterthe difference on line 20. This Is Ihe TAX DU!. (20) _._.~ ~ t!.7..!l.iL. --
A. Enler the intero.1 on the balonce due on 11ft. 20A. (20A) _. __.....Q._ u_. - .-
e. ~nler Ih. total 01 line 20 and 20A on line 208. Thl. i. the BALANCE OUI. (208) _ _~ 4117~,;J._. -.
Make Ch.... 'ayeb" "" R..ht., 01 Wllk, At.",
. .~-"~_ '~!.~~;ft!~_~~~~~~~~~ ,:~..-~ rJ--"",;;7~~~i,~tg/.:~.
nd't' p.nahte, of ".rjury, I -tedar. that' 11I;lY. .~al"l"f.d this return, Incl,.ding occompanyin9 ,C'h.tfulas and ,totemeftU, and to 'he besl of my knowledge and b.iiJ:
i, true, correct and comple'.. I dltlo,. ,t".,1 ctll 'fal elltat. ha~ been r~or"cf al Ir"" Mar~" yol".. Oedaralion ~ prepor., other thon the porsonal repre..ntat;v, i,
"ed on C'1I1nlorrncnion of ~.hie~ rreparer ho, e:t"y ltl1Qwlfl!dgl
l';;;ll\ilr'llr'm'."STmR5i<SiiinoRl'l[lf,jIl'P.'um---' A1i5lm~ ~o'I-L I s r3 i.iii;;-~ tC-- .---.- om-.--- -0- .. ....
, ClttmP 1-11(.(., ()~ 1'1011
!iN...'ORi 0' ,;;;t~~R fH"f-1I!JIm!kif..nvr-"-"iiI5lm-' -:i w.-rn~'ltij. !liT.
_.....C1E!:':':lANI('.~~(.dG~, PII
500 IX. 112.8&'
flU NIIIHIR
INHERITANCE TAX RETURN
RESIDENT DECEDENT
(TO BE FILED IN DUPLICATE
WITH REGISTER OF WILLS)
*
~..m~~~V~r.'I~~~'UlAN'"
M"'MISllf~, ~~1_1
:1.1
9'1
If'lO
COUNTY CODE
YEAR
NUMBER
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....
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all-In" Hltl (Ulo.IlIt NaN 7U.A)'" 17~1f
c....~II~.D
o 3. II-,n_ lI_um
(far datfl 01 death prior to 12- I 3.82)
o 5. Fed..,,1 Eltm. T "ll
Relurft Required
..l!.... 8. Tatol 101__ of Sole o.,..,sit Salltl
KRA4/ZEl, nMK,f/S'
~~2() .'-r;~~~1i.n~~O
~ 1. Orlglnol Return 0 2. SupplttMMalllelVm
o A. LImited E.tatt 0 40. Future Interest Compromise
liar ~m.s of death alter 12.12-82)
o '1. 0__1 M........ed a LIving Trull
(Attach 01 T I'!I"
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Andrew C. Sheely, Esquire
127 S. Market Street
P.O. Box 95
Mechanicsburg, PA 17055
PA ID NO. 62469
717-697-7050 (Phone)
717-697-7065 (Fax)
ESTATE OF MORRIS KRANZEL
IN THE COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA
ORPHANS COURT DIVISION
21-94-440
ORDER APPROVING JOINT PETITION TO TERMINATE TRUST PURSUANT TO
PA. C.S.A. SECTION 6102(a)
AND NOW, this ~ay Of~~ ,2008, after
consideration of the attached Joint Petition to Terminate a
Trust pursuant to Section 6102 (a) of the Probate, Estates and
Fiduciaries Code of 1972, as amended, and an attached Settlement
Agreement between the Trustees and Trust Beneficiaries, it is
hereby Ordered and Decreed that the credit shelter trust
established under the Last Will and Testament of Morris Kranzel
for the benefit of Lillian Kranzel is hereby TERMINATED. It is
further Ordered and Decreed that the Trustees of said Trust
shall make final distributions from the Trust in accordance with
the Settlement Agreement dated December 31, 2007 and that
further claims of the beneficiaries as to administration of the
(::5 )Tr~
\.I. ,:~ ("")
c.:) ~-.:.~
i+;"_ ~
c; '.)
C'
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(- :')
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eY_
are gereby extinguished.
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cc "-~
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Andrew C. Sheely, Esquire
Attorney for Petitioners
In Re: EST A TE OF MORRIS KRANZEL
ORPHANS' COURT DIVISION
COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY
PENNSYLVANIA
NO. 21-94-0440
CERTIFICATE OF SERVICE OF ORDER
ORDER DATE: 01-07-08
JUDGE'S INITIALS: EEB
TIME STAMP DATE: 01-07-08
IN RE: ORDER APPROVING JOINT PETITION TO TERMINATE TRUST
""""""""""""""""""""""""""""""",..""""""""""""""","""""'"""""""""
SERVICE TO:
ANDREW C SHEELY ESO
METHOD OF MAILING:
ENVELOPES PROVIDED BY:
D USPS
DRRR
[gI HAND DELIVERED
D OTHER_
D PETITIONER
D JUDGE
D CLERK OF ORPHANS COURT
MAILED: 01-07-08
""""""""""""""""""..""",..,""""""""""""'\"""""""""""""""""'"""""""""
SERVICE TO:
METHOD OF MAILING:
ENVELOPES PROVIDED BY:
D USPS
DRRR
D HAND DELIVERED
D OTHER_
D PETITIONER
D JUDGE
D CLERK OF ORPHANS COURT
MAILED:
Deputy
Clerk of Orphans' Court