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ESTATE OF EMMA K. LYONS
File No. 21-06-0974
FAMILY SETTLEMENT AGREEMENT
L~' f.:-.'
THIS AGREEMENT made this I R - day of j cU- '^'~~
,2007
BETWEEN: GERALD S. LYONS and LINDA JEAN YOUNG, being the
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legatees under the Last Will and Testament of Emma K. Lyons, late of the C[ownship 6E
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Shippensburg, Cumberland County, Pennsylvania,
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AND
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GERALD S. LYONS and LINDA JEAN YOUNG, Co-Executors ofgfei Estatec'..~
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under the Last Will and Testament of Emma K. Lyons, deceased,
WHEREAS, Emma K. Lyons died October 16, 2006, testate, and under her Will
left her estate to the parties herein; and
WHEREAS, Letters Testamentary were granted to Gerald S. Lyons and Linda
Jean Young on November 2, 2006, by the Register of Wills of Cumberland County,
Pennsylvania; and
WHEREAS, all assets of the late Emma K. Lyons 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-
Executors, the said parties hereto desire to waive the duty of the Co-Executors 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
J
WEIGLE & ASSOCIATES, Pc. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257-1397
II: .
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 Gerald S. Lyons and Linda Jean Young, Co-Executors, from
all claims and demands whatsoever arising out of settlement of the Estate of Emma K.
Lyons.
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.
WITNESS:
;{;( 11 k{t<.i,
,
G~:\~6,
Gerald S. Lyons
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(SEAL)
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WEIGLE & ASSOCIATES, Pc. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257-1397
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COMMONWEALTH OF PENNSYLVANIA
SS
COUNTY OF CUMBERLAND
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On this, the
day of
&'~'\''v'~~
, 2007,
before me, the undersigned officer, personally appeared GERALD S. LYONS, 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 purposes therein
contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
'i:,~( y K~~~L-
'/
(SEAL)
Notana eal
Linda K. Klein, Notary Public
Shlppensburg, PA Cumberland County
Commission Ex ires Au ust 15, 2008
COMMONWEAL TH OF PENNSYLVANIA
SS
COUNTY OF CUMBERLAND
On this, the
. f'L
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day of
(~a_~1
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, 200/,
before me, the undersigned officer, personally appeared LINDA JEAN YOUNG, known
to me (or satisfactorily proven) to be the person whose 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.
i~ y j"}Q~~ (SEAL)
/
Notarial Seal
Linda K. Klein, Notary Public
Shippensburg, PA Cumberland County
M Commission Ex.eires Au ust 15, 2008
WEIGLE & ASSOCIATES, PC - 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. 21-06-0974
Estate of Emma K. Lyons, Deceased
Late of Shippensburg Township
Account
Gerald S. Lyons and Linda Jean Young, 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:
196-38-7712
20-7125370
10/16/2006
None
11/02/2006
12/01/2006
10/16/2006
to
12/06/2007
Purpose of Account: Gerald S. Lyons and Linda Jean Young, 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:
Thomas L. Bright, Esquire
Weigle & Associates, P .C.
126 East King Street
Shippensburg, PA 17257
717-532-7388
Supreme Court 1.0. No. 30066
SUMMARY dF ACCOUNT
Estate of Emma K. Lyons, Deceased
For the period of October 16. 2006 throuQh December 6. 2007
Proposed Distributions
to Beneficiaries
PaQe
16
Current
Value
262,724.18
PRINCIPAL
Receipts: This Account
Net Gain (or Loss) on Sales
or Other Dispositions
1 - 3
4
Less Disbursements:
Debts of Decedent
Funeral Expenses
Administration Expenses
Federal, State & Local Taxes
Commissions
Fees
Family Exemption
5
5
5-6
6-7
7
7
11,186.68
8,845.40
10,111.25
284,397.72
60,964.00
31,843.00
0.00
Balance Before Distributions
Transfer to (from) Principal
Distributions to Beneficiaries
8-9
10
Principal Balance on Hand
For Information:
Investments Made
Changes in Holdings
11 -12
INCOME
Receipts
This Account
13 -14
Net Gain (or Loss) on Sales
or Other Dispositions
Less Disbursements
Balance Before Distributions
Transfer to (from) Income
Distributions to Beneficiaries
Income Balance on Hand
15
For Information:
Investments Made
Changes in Holdings
COMBINED BALANCE ON HAND
Verification
17
Fiduciary
Acquisition
Value
262,724.18
2,678,142.70
163.90
2,678,306.60
407,348.05
2,270,958.55
0.00
2,010,275.29
260,683.26
2,040.92
0.00
2,040.92
0.00
2,040.92
0.00
0.00
2,040.92
262,724.18
'.
SCHEDULE A
RECEIPTS OF PRINCIPAL
10/16/2006
10/16/2006
Cash
Orrstown Bank Checking Account #103200522
Orrstown Bank Checking Account #103200522-
deposits credited after date of death
Accrued interest on above item through date of
death
Orrstown Bank Checking Account #103698652
Accrued interest on above item through date of
death
Van Kampen Investments Account #50/51552182
Wachovia Securities Individual Account
#5221-3773 Money Market
Wachovia Securities Individual Account
#5221-3773 Money Market - deposits date of
death to closing on 11-15-06
Accrued interest on above item through date of
death
Wachovia Securities Individual Account
#5221-3773 Securities - date of death balance of
$1,071,490.76, less transfers to estate checking
account totaling $455,000.00
Accrued interest on above item through date of
death
Wachovia Securities IRA Account #5221-3771
Money Market
Accrued interest on above item through date of
death
Wachovia Securities IRA Account #5221-3771
Securities
Accrued interest on above item through date of
death
Wachovia Securities Trust Money Market FBO
Emma Lyons Account #5221-4984
10/16/2006
10/16/2006
10/16/2006
10/16/2006
10/16/2006
10/16/2006
1 0/16/2006
10/16/2006
10/16/2006
10/16/2006
10/16/2006
10/16/2006
1 0/16/2006
10/16/2006
1
10.530.09
1.153.67
2.66
17.294.58
1.89
23.904.64
9.114.75
4.502.27
14.98
616,490.76
3.062.67
2.268.80
55.816.16
13.33
2.007.21
Fiduciary
Acquisition
Value
4.03
SCHEDULE A
RECEIPTS OF PRINCIPAL
Continued
Fiduciary
Acquisition
Value
10/16/2006 Wachovia Securities Trust Money Market FBO 817.05
Emma Lyons Account #5221-4984 - deposits
date of death to closing 11-15-06
10/16/2006 Accrued interest on above item through date of 3.57
death
1 0/16/2006 Wachovia Securities Trust Securities FBO 554.757.46
Emma Lyons Account #5221-4984
10/16/2006 Accrued interest on above item through date of 277.08
death
Total Cash 1.302.037.65
Personal Property
10/16/2006 Personal Property at appraised values 3.585.00
Total Personal Property 3.585.00
Stocks I Listed
10/16/2006 52.0000 shares Beistle Company 17.511.52
Total Stocks / Listed 17,511.52
Mortaaae I Note Receivable
10/16/2006 Gerald Lyons Mortgage Receivable 120.042.39
10/16/2006 Julie A. Brown Mortgage Receivable 64.023.60
10/16/2006 Linda Lyons Young Receivable - balance owed 3.000.00
on sale of vehicle prior to date of death (paid
01/09/2007)
Total Mortgage / Note Receivable 187.065.99
Real Estate
10/16/2006 10-20 Lyons Lane, Shippensburg Township, 624.000.00
Cumberland County, PA
Total Real Estate 624.000.00
Total Inventory 2.134.200.16
2
SCHEDULE A
RECEIPTS OF PRINCIPAL
Contin ued
Subseauent Principal Receipts
05/31/2007 Commonwealth of Pennsylvania - 2006 personal 1,247.00
income tax refund
08/23/2007 Commonwealth of Pennsylvania - refund of 14.721.06
Pennsylvania Inheritance Tax
02/20/2006 Highmark - refund of premium 300.46
01/11/2007 Liberty All Star Equity Fund - payment for 3.58
fractional share
07/10/2007 Liberty All Star Equity Fund - payment for 2.77
fractional share
07/18/2007 Liberty All Star Equity Fund - replacement check 76.16
for uncashed checks 1999-2007
10/19/2007 Liberty All Star Equity Fund - payment for 2.27
fractional share
03/08/2007 Paper Contribution from Co-Executors from 60,964.00
Wachovia Investment Accounts - to pay
Co-Executor commissions
11/21/2006 Presbyterian Homes - refund 3,697.24
12/05/2007 Transfers from Wachovia accounts to estate 455.000.00
account - for payment of estate debts, fees,
taxes, etc. from date of death through 12/05/2007
10/16/2006 U. S. Treasury - 2006 federal income tax refund 7.928.00
Total Subsequent Principal Receipts
Total Adjustments and Subsequent Receipts
Total Receipts of Principal
3
Fiduciary
Acquisition
Value
543,942.54
543,942.54
2.678.142.70
SCHEDULE B
GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS - PRINCIPAL
Gain Loss
02/06/2007
Van Kampen Investments Account #50/51552182
- proceeds of liquidation
Net Proceeds
Fiduciary Acquisition Value
24.068.54
-23.904.64
163.90
TOTAL GAINS AND LOSSES/PRINCIPAL
LESS LOSS
NET GAIN OR LOSS
163.90
163.90
4
SCHEDULE C
DISBURSEMENTS OF PRINCIPAL
Debts of Decedent
11/02/2006
11/09/2006
11/09/2006
Penelec
Continuing Care Rx
Orrstown Bank Checking Account #103698652 -
checks clearing after date of death
Brown Optical & Hearing Aid Service
Continuing Care Rx
Penelec
PA Department of Revenue - 2006 PA40 ES
U. S. Treasury - 2006 1040 ES
11/21/2006
11/28/2006
11/28/2006
01/16/2007
01/16/2007
107.13
1.210.83
7.416.78
3.00
59.17
89.77
500.00
1.800.00
Total Debts of Decedent 11.186.68
Funeral Expenses
11/09/2006 Fogelsanger-Bricker Funeral Home 8.195.40
11/09/2006 Fogelsanger-Bricker Funeral Home - grave 650.00
opening
Total Funeral Expenses 8,845.40
Administration Expenses
11/02/2006 Register of Wills, Cumberland County - Letters 1,688.00
Testamentary and Short Certificates
11/13/2006 Cumberland Law Journal - advertising Letters 75.00
Testamentary
12/05/2006 News Chronicle - advertising Letters 109.25
Testamentary
5
SCHEDULE C
DISBURSEMENTS OF PRINCIPAL
Continued
12/12/2006 Terry L. Shetter, Auctioneer - appraisal of 100.00
personal property
01/11/2007 Recorder of Deeds, Franklin County - Brown 30.50
mortgage satisfaction
01/15/2007 Register of Wills, Cumberland County - one 4.00
Short Certificate
01/16/2007 Wolfe & Shearer Realtors - appraisal of real 900.00
estate
02/20/2007 Carl Bert & Associates - survey deposit 1.500.00
03/06/2007 Weigle & Associates, P .C. - reserve for filing 125.00
Family Settlement Agreement with Register of
Wills, Cumberland County
03/08/2007 Carl Bert & Associates - balance due on survey 4.300.00
03/15/2007 Register of Wills, Cumberland County - certified 5.00
copy of Will
03/29/2007 Register of Wills, Cumberland County - filing PA 15.00
Inheritance Tax Return
04/12/2007 Recorder of Deeds, Cumberland County - 43.50
recording new deed to real estate
OS/23/2007 Robert M. Snyder & Associates - 2006 income 1.200.00
tax preparation
06/21/2007 Register of Wills, Cumberland County - one 4.00
Short Certificate
07/10/2007 Register of Wills, Cumberland County - one 4.00
Short Certificate
1 0/23/2007 Register of Wills, Cumberland County - one 4.00
Short Certificate
12/06/2007 Register of Wills, Cumberland County - one 4.00
Short Certificate
Total Miscellaneous Administrative Expenses 10.111.25
Federal. State & Local Taxes
01/11/2007 Register of Wills, Cumberland County - PA 120.000.00
Inheritance Tax payment at discount
6
SCHEDULE C
DISBURSEMENTS OF PRINCIPAL
Continued
03/29/2007
U. S. Treasury - 706 federal estate tax
Total Taxes
Commissions
03/08/2007
03/08/2007
Gerald S. Lyons - Co-Executor Commission
Linda Jean Young - Co-Executor Commission
Total Commissions
Fees
03/06/2007
Thomas L. Bright, Esquire
Total Fees
TOTAL DISBURSEMENTS OF PRINCIPAL
7
164.397.72
30.482.00
30.482.00
31.843.00
284.397.72
60.964.00
31.843.00
407.348.05
. '
SCHEDULE D
DISTRIBUTIONS OF PRINCIPAL
Gerald S. Lvons
03/08/2007 Personal Property at appraised values -1/2 1.792.50
03/27/2007 10-20 Lyons Lane, Shippensburg Township, 624.000.00
Cumberland County, PA - Specific Bequest
03/30/2007 Wachovia Securities Individual Account 1.531.34
#5221-3773 Securities -1/2 of account
03/30/2007 Wachovia Securities IRA Account #5221-3771 1.134.40
Money Market - 1/2 of account
03/30/2007 Wachovia Securities IRA Account #5221-3771 2.02
Money Market - 1/2 of account
03/30/2007 Wachovia Securities IRA Account #5221-3771 27.908.08
Securities -1/2 of account
03/30/2007 Wachovia Securities IRA Account #5221-3771 6.67
Securities -1/2 of account
03/30/2007 Wachovia Securities Trust Securities FBO Emma 277 .378.73
Lyons Account #5221-4984 -1/2 of account
03/30/2007 Wachovia Securities Trust Securities FBO Emma 138.54
Lyons Account #5221-4984 -1/2 of account
12/06/2007 Wachovia Securities Individual Account 308.245.38
#5221-3773 Securities -1/2 of account
1.242.137.66
Linda Jean Young
03/08/2007 Personal Property at appraised values -1/2 1.792.50
03/20/2007 Specific Bequest - Cash 150.000.00
03/30/2007 Wachovia Securities Individual Account 1.531.33
#5221-3773 Securities -1/2 of account
03/30/2007 Wachovia Securities IRA Account #5221-3771 1.134.40
Money Market - 1/2 of account
03/30/2007 Wachovia Securities IRA Account #5221-3771 2.01
Money Market - 1/2 of account
03/30/2007 Wachovia Securities IRA Account #5221-3771 27.908.08
Securities -1/2 of account
8
SCHEDULE D
DISTRIBUTIONS OF PRINCIPAL
Continued
03/30/2007
Wachovia Securities IRA Account #5221-3771
Securities - 1/2 of account
Wachovia Securities Trust Securities FBO Emma
Lyons Account #5221-4984 -1/2 of account
Wachovia Securities Trust Securities FBO Emma
Lyons Account #5221-4984 -1/2 of account
Wachovia Securities Individual Account
#5221-3773 Securities -1/2 of account
03/30/2007
03/30/2007
12/06/2007
6.66
277.378.73
138.54
308.245.38
TOTAL DISTRIBUTIONS TO BENEFICIARIES
9
"- '
768.137.63
2.010.275.29
~ '
PRINCIPAL BALANCE ON HAND
Current Value Fiduciary
12/06/2007 Acquisition
# Units Description or as Noted Value
Cash
Orrstown Bank Estate Checking Acc 123.129.35 123.129.35
Total Cash 123.129.35 123.129.35
Assets
52.0000 Beistle Company 17.511.52 17 .511.52
Gerald Lyons Mortgage Receivable 120.042.39 120.042.39
Total Assets 137.553.91 137.553.91
260.683.26 260.683.26
10
. , I ,
~ I , '
SCHEDULE F
CHANGES IN PRINCIPAL HOLDINGS
# Units
Cost
10-20 Lvons Lane. ShippensburQ Township. Cumberland County. PA
10/16/2006
03/27/2007
inventoried
distributed
624.000.00
-624.000.00
0.00
Beistle Company
1 0/16/2006
52.0000 inventoried
17.511.52
17,511.52
52.0000
Gerald Lvons MortQaQe Receivable
10/16/2006 inventoried
120.042.39
120.042.39
Personal Property at appraised values
10/16/2006
03/08/2007
03/08/2007
inventoried
distributed
distributed
3.585.00
-1.792.50
-1.792.50
0.00
Van Kampen Investments Account #50/51552182
10/16/2006
02/06/2007
inventoried
sold
23.904.64
-23.904.64
0.00
Wachovia Securities Individual Account #5221-3773 Securities
10/16/2006
10/16/2006
03/30/2007
03/30/2007
12/06/2007
inventoried
inventoried
distributed
distributed
distributed
616.490.76
3.062.67
-1.531.34
-1.531.33
-308.245.38
11
I . I ,
SCHEDULE F
CHANGES IN PRINCIPAL HOLDINGS
Continued
# Units
12/06/2007
distributed
Wachovia Securities IRA Account #5221-3771 Monev Market
10/16/2006
10/16/2006
03/30/2007
03/30/2007
03/30/2007
03/30/2007
inventoried
inventoried
distributed
distributed
distributed
distributed
Wachovia Securities IRA Account #5221-3771 Securities
10/16/2006
10/16/2006
03/30/2007
03/30/2007
03/30/2007
03/30/2007
inventoried
inventoried
distributed
distributed
distributed
distributed
Wachovia Securities Trust Securities FBO Emma Lvons Account #5221-4984
10/16/2006
10/16/2006
03/30/2007
03/30/2007
03/30/2007
03/30/2007
inventoried
inventoried
distributed
distributed
distributed
distributed
Total
12
. t , I
Cost
-308.245.38
O.DO
2.268.80
4.D3
-1.134.40
-1.134.40
-2.02
-2.01
O.DO
55.816.16
13.33
-27.908.08
-27.908.08
-6.67
-6.66
0.00
554.757.46
277 .08
-277.378.73
-277 .378. 73
-138.54
-138.54
-0.00
137.553.91
,... I 11 .
SCHEDULE G
RECEIPTS OF INCOME
Dividend
Beistle Company
12/01/2006
12/01/2007
Liberty All Star Equity Fund
03/28/2007
09/24/2007
Van Kampen Investments Account #50/51552182
11/30/2006
12/29/2006
TOTAL DIVIDEND INCOME
Interest/Bank
Julie A. Brown MortQaQe Receivable
12/27/2006 interest date of death to payoff
Orrstown Bank CheckinQ Account #103200522
11/09/2006
interest date of death to closing
Orrstown Bank CheckinQ Account #103698652
11/09/2006
interest date of death to closing
13
163.80
208.00
38.41
0.63
106.25
106.33
1.152.01
6.11
0.96
. c , ,
371.80
39.04
212.58
623.42
1.152.01
6.11
SCHEDULE G
RECEIPTS OF INCOME
Continued
Orrstown Bank Estate Monev Market Account #103-800176
11/30/2006
12/31/2006
01/31/2007
02/28/2007
04/01/2007
04/30/2007
05/31/2007
07/01/2007
07/31/2007
09/03/2007
09/30/2007
10/31/2007
11/30/2007
12/06/2007
7.64
20.53
38.65
15.92
63.58
6.40
4.58
9.93
9.62
14.13
19.57
22.47
23.22
2.18
TOTAL BANK INTEREST
TOTAL RECEIPTS OF INCOME
14
. I , J
0.96
258.42
1.417.50
2.040.92
., " .. ,
# Units
Description
INCOME BALANCE ON HAND
Cash
Orrstown Bank Estate Checking Acc
15
Total Cash
Current Value
12/06/2007
or as Noted
2.040.92
2.040.92
2.040.92
. . 100 I
Fiduciary
Acquisition
Value
2.040.92
2.040.92
2.040.92
. . " .
.. , ... I
COMBINED BALANCE ON HAND
Current Value Fiduciary
12/06/2007 Acquisition
# Units Description or as Noted Value
Cash
Orrstown Bank Estate Checking Acc 125.170.27 125.170.27
Total Cash 125.170.27 125.170.27
Assets
52.0000 Beistle Company 17.511.52 17.511.52
Gerald Lyons Mortgage Receivable 120.042.39 120.042.39
Total Assets 137.553.91 137.553.91
262.724.18 262.724.18
., ., '" .
.. I. '
PROPOSED DISTRIBUTIONS TO BENEFICIARIES
Current Value Fiduciary
12/06/2007 Acquisition
or as noted Value
TO: Gerald S. Lvons
26.0000 shares Beistle Company - 1/2 total shares
Cash
Gerald Lyons Mortgage Receivable
8.755.76
2.563.94
120.042.39
131.362.09
8.755.76
2.563.94
120.042.39
131.362.09
TO: Linda Jean Youna
26.0000 shares Beistle Company - 1/2 total shares
Cash
8.755.76 8.755.76
122.606.33 122.606.33
131.362.09 131.362.09
Total 262.724.18 262.724.18
16
.... " .
. . .. .
In the Court of Common Pleas of Cumberland County, Pennsylvania
Orphans' Court Division
File No. 21-06-0974
Estate of Emma K. Lyons, Deceased
Verification
Gerald S. Lyons and Linda Jean Young, Co-Executors under the Last Will and Testament of Emma
K. Lyons, 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.
Dated:
j- / 0 -0 ?
17