HomeMy WebLinkAbout02-04-08 (2)
IN THE ORPHANS' COURT DIVISION
OF THE COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA
ESTATE OF DALE J. KIME, DECEASED
No. 2006-00842
APPROVAL OF ACCOUNT, WAIVER, RECEIPT,
RELEASE, AND AGREEMENT OF INDEMNITY
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The circumstances leading up to the execution of this instrument are as follows:
1. Dale J. Kime died on September 10,2006, leaving a Will dated April 11, 2005,
naming Martin G. Kime as Executor.
2. Letters Testamentary were granted to Martin G. Kime by the Register of Wills of
Cumberland County on September 27,2006.
3. It is the desire of the Dale J. Kime heirs that the Estate be distributed without the
formality of a court proceeding in order to save the expense, publicity, and delay incident to
such court proceeding, and the Executor is willing to make such distribution upon the
execution of this instrument.
4. An account of the administration of the Estate of Dale J. Kime has been prepared by
the Executor. A copy is attached hereto as Exhibit A.
5. In consideration of the foregoing, each of the undersigned hereby:
A. Represents and warrants that he/she has read and understands this
instrument and that the facts set forth above are true and correct to the best of his/her
knowledge, information and belief;
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B. Declares that he/she has examined the attached account of the administration
of the Estate and the attached schedule of distribution; that he/she finds them to be true and
correct in all particulars; that he/she accepts and approves them as if they had been duly filed,
audited, adjudicated and confirmed absolutely by the Orphans I Court Division of the Court of
Common Pleas of Cumberland County, and as if the amounts shown as distributable had been
duly awarded to him/her;
C. Waives the filing and auditing of the account of the administration of the
Estate in the Orphans' Court Division of the Court of Common Pleas of Cumberland County,
and agrees that the Orphans I Court Division of the Court of Common Pleas of Cumberland
County may by its decree confirm the account and approve the schedule of distribution;
D. Requests the Executor to make distribution of the principal and income in
accordance with the schedule of distribution, and effective upon delivery to him/her of the
amounts shown as respectively distributable, acknowledges receipt of such property;
E. Agrees to refund to the Executor any amount which may at any time be
determined to have been an erroneous distribution to him/her, regardless of the cause of such
erroneous distribution, even if attributable to negligence, and agrees that any period for the
limitation of actions for the collection of any erroneous distribution shall commence only at
such time as the Executor shall have obtained actual knowledge of such erroneous distribution
and that in no event shall the period for collection of any erroneous distribution be less than
two years after the actual discovery thereof;
F. Absolutely and irrevocably remises, releases, quitclaims and forever
discharges Martin G. Kime, individually and in his capacity as Executor, from any and all
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actions, suits, payments, accounts, reckonings, liabilities, claims and demands relating in any
way to the administration of the Dale J. Kime Estate;
G. Agrees to indemnify and hold harmless, to the extent of the funds received
by him/her hereunder, Martin G. Kime, individually and in his capacity as Executor, from and
against any and all claims, loss, liability or damage (including legal fees and costs in
connection therewith) which he may suffer or to which he/ may be subjected by reason of his
administration of the Estate, the settlement of his Executor's account and the distribution of the
assets of the Estate without having the formal approval of the Orphans I Court Division of the
Court of Common Pleas of Cumberland County, including, but not limited to, any liability for
any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with
interest and costs incidental thereto, relating in any way to the Estate; and
H. Declares it to be his/her intention that this instrument, consisting of three
pages, shall be governed by the law of Pennsylvania and shall be legally binding as an
agreement under seal upon him/her and upon his/her heirs, executors, administrators and
assIgns.
Executed on:
(Seal)
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DATE
(Seal)
DATE
DATE
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(Seal)
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BEFORE THE REGISTER OF WILLS,
CUMBERLAND COUNTY, PENNSYLVANIA
No. 2006-00842
FIRST AND FINAL ACCOUNT OF
MARTIN G. KIME, Executor
For
ESTATE OF DALE J. KIME, Deceased
Date of Death: September 10,2006
Date of Executor's Appointment: September 27, 2006
Accounting for the Period: September 27, 2006 to December 31, 2007
PURPOSE OF ACCOUNT: Martin G. Kime, Executor, offers this Account to
acquaint interested parties with the transactions that have occurred during his administration.
The Account also indicates the proposed distribution of the Estate.
It is important that the Account be carefully examined. Requests for additional
information or questions or objections can be discussed with:
Debra K. Wallet, Esquire
24 N. 32nd Street
Camp Hill, PA 17011
I.D. #23989
(717) 737-1300
EXHIBIT A
SUMMARY OF ACCOUNT
Page
Current
Value
Fiduciary
Acquisition
Value
Proposed Distribution
to Beneficiaries 5
$114,527.37
PRINCIPAL
Receipts 2
Net Gain on Sales or Other 3
Dispositions
$133,368.94
95.75
Less Disbursements
Debts of Decedent
Funeral Expenses
Administration Expenses
Federal and State Taxes
Fees and Commissions
3
3
3
4
4
148.42
635.40
502.11
6,364.35
11,300.00
$18,950.28
Principal Balance on Hand
$114,514.41
INCOME
Receipts
Income Balance on Hand
4
$12.96
12.96
Balance Before Distributions
$114,527.37
Combined Balance on Hand
$114,527.37
RECEIPTS OF PRINCIPAL
Assets Listed in Inventory:
(Value as of Date of Death)
Cash and Bank Deposits:
PNC Bank:
Checking Acct. #5070080985
Money Market #5004217664
Putnam Allstate Annuity
Cumberland County V A Allowance
Cash in possession of Decedent
Tan~ible Personal Property:
Watch, wedding band
Stocks:
21 shares Prudential Financial, Inc.
Refunds:
2006 Federal Income Tax refund
County Meadows refund
$12,158.90
3,397.94
113,191.72
100.00
27.00
$785.00
2,126.63
TOT AL ASSETS LISTED IN INVENTORY:
2
$128,875.56
$75.00
$1,506.75
$2,911.63
$133,368.94
GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS
11/14/06
Liquidation of 21 shares Prudential Financial, Inc. stock
Net Proceeds
Fiduciary Acquisition
$1,602.50
1,506.75
$95.75
DISBURSEMENTS OF PRINCIPAL
Debts of Decedent:
Caremark (prescriptions)
West Shore EMS
MeI (telephone)
$45.00
55.15
48.27
$148.42
Funeral Expenses:
Malpezzi Funeral Home
Gratuity to Alter Boys
Drycleaning of suit for burial
$558.40
60.00
17.00
$635.40
Administration Expenses:
Probate Fees
Meeting with beneficiaries
Photocopies, postage, mileage
Reserve for Filing of Account
$332.00
100. 11
50.00
20.00
$502.11
3
Federal and State Taxes:
P A Inheritance Tax
2007 federal fiduciary taxes
2007 P A fiduciary taxes
]?ees and Commissions:
Martin G. Kime - Executor Fee
Debra K. Wallet, Esq. - Atty. fees
Barbush & Hoffman (tax return prep)
$5,993.81
235.90
134.64
$7,600.00
3,500.00
200.00
$6,364.35
$11,300.00
RECEIPTS OF INCOME
Interest
PNC Bank:
2006 Checking Acct. interest
2006 Money Market interest
TOTAL RECEIPTS OF INCOME:
$4.26
8.70
4
$12.96
$12.96
PROPOSED DISTRIBUTION TO BENEFICIARIES
TO: Martin G. Kime
2400 Deerview Drive
Mechanicsburg, P A 17055
Cash Distribution
Watch and wedding band
$85,218.33
75.00
$85,293.33*
Beth Warner
287 West Pheasant Hill Drive
Duncan, SC 29334
Cash Distribution
14,617.02
Greg Cline
246 Colony Lakes Drive
Lexington, SC 29073
Cash Distribution
14,617.02
TOT AL PROPOSED DISTRIBUTION TO BENEFICIARIES:
$114,527.37
*NOTE: Last Will and Testament provides for $100,000 total distribution to Martin G. Kime,
who received $12,943.56 from the Putnam Allstate Variable Annuity PA00083548, and
$1,763.12 from IRA #5102-5459 ($100,000 - 12,943.56 - 1,763.12).
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