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HomeMy WebLinkAbout02-23-82 IN RE: ESTATE OF ROBERT W. IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ROLAND, JR., CHRISTINA ANN ROLAND and DAVID G. ROLAND, ORPHANS' COURT DIVISION All Minors Over the Age of 14 NO. 232 ORPHANS' 1978 ORDER AND NOW, this day of , 1982, in con- sideration of the within Petition together with the consents and joinders of Andrea Roland, Robert W. Roland, Jr., Christina Ann Roland and David G. Roland, it is hereby Ordered and Decreed that Commonwealth National Bank, Guardian of the Estates of Robert W. Roland, Jr., Christina Ann Roland and David G. Roland, shall borrow the sum of $8,118.36 from the cash and short term investment account of Robert W. Roland, Jr., the sum of $9,750.52 from the cash and short term investment account of Christina Ann Roland and the sum of $2,850.98 from the cash and short term investment account of David G. Roland, all without interest, to be repaid out of the verdict in the case of Commonwealth National Bank, Administrator of the Estate of Robert W. Roland, Sr., deceased, versus Hershey Foods Corporation, No. 2968 "S" 1978, in the Court of Common Pleas of Dauphin County, Pennsylvania, if and when said verdict is collected, and to use said monies to pay outstanding trial expenses in the amount of $19,219.86 and establish a reserve of $1,500.00 for anticipated appeal expenses. BY THE COURT: J. 2968 "s" 1978. 6. On September 25, 1981, after two full weeks of trial, the jury in the aforementioned Wrongful Death and Survival Action made the following awards in favor of the Plaintiff Administrator and against Hershey Foods Corporation: Wrongful Death Action $ 127,083.63 Survival Action $ 475,870.42 TOTAL VERDICT $ 602,954.05 7. Defendant, Hershey Foods Corporation, has filed motions for a new trial and for judgment novo 8. Petitioner, as Administrator and Plaintiff in the Wrongful Death and Survival Action against Hershey Foods Corpora- tion has incurred trial expenses in the gross amount of $24,185.16, of which $19,219.86 is still outstanding and unpaid. 9. Petitioner has on hand the following assets: (a) As Administrator of the Estate of Robert W. Roland, Sr., deceased Real Estate, carried at Note Cash and Miscellaneous $ 39,500.00 750.00 1,200.00 $ 41,460.00 (b) As Guardian of Robert W. Roland, Jr. Cash and short term investments $ 18,791.25 (c) As Guardian of Christina A. Roland Cash and short term investments 22,569.14 (d) As Guardian of David G. Roland Cash and short term investments 6,599.02 $ 47,959.41 These balances currently earn a net of 11% per year. -2- 10. Petitioner, as Guardian, receives $852.00 in worker's compensation benefits each month and disburses $154.00 per month to Andrea Roland, mother of the minor children, for support for each child ($462.00 total per month) and $144.00 per month for the mortgage payment, which leaves a net balance of $82.00 per month per child for accumulation. 11. Petitioner is, therefore, unable to pay the trial expenses out of thE~ estate assets or out of the income earned by the guardian- ship aCC01ID ts. 12. Petitioner has requested the grandfather of the minor child- ren, Charles A. Roland, to pay the expenses out of a trust fund he has set up for the three minors, he being the sole trustee and the trust having approximately $21,000.00 in principal, however, Charles W. Roland has declined to do so. 13. Because of the paucity of income being earned by the guardian- ship accounts, it is not feasable for Your Petitioner to borrow the $19,219.86 at prevailing interest rates. 14. It is not feasable to either sell or mortgage the home at 607 Magaro Road, East Pennsboro Township, Cumberland County, because it is already mortgaged (balance as of 12/81 $10,871.38) and it is the family home in which the minors reside. 15. Petitioner sees, therefore, as its only course, to borrow the $19,219.86 from the short term investments and cash accounts of the minors, without interest, said sums borrowed to be repaid in full at such time as the Wrongful Death and Survival Action against Hershey Foods Corporation is concluded and the verdict recovered. -3- 16. In addition to the sum of $19,219.86 currently out- standing, it is anticipated, because the death case is being appealed, that an additional $1,500.00 expenses will be incurred through an appeal to the Superior Court of Pennsylvania. 17. Your Petitioner suggests, therefore, that the needed sum of $20,719.86 ($1,500.00 + $19,219.86) be borrowed from the cash and short term investment accounts of the minors in relation to the relative size of each account, as follows: Robert w. Roland, Jr. 18,791.25 47,959.41 X 20,719.86 = 8,118.36 Christina A. Roland 22,569.14 47,959.41 X 20,719.86 = 9,750.52 David G. Roland 6,599.02 47,959.41 X 20,719.86 = 2,850.98 $20,719.86 ~.o-:r~~ Yerome T. Foerster, Esq. 121 South Street Harrisburg, Pennsylvania 17101 Telephone: (717) 234-3136 -4- . . COMMONWEA:LTH OF PENNSYLVANIA C"~{/-hv COUNTY OF DAti N ..LJ ) ) ) SS: LOIS COPELAND, being duly sworn according to law, deposes and says that she is ---r;i<.Id ~ of the Commonwealth National Bank, that she is authorized by the Commonwealth National to make verifications and affidavits on its behalf, and that the facts set forth in the foregoing Petition are true and correct to the best of her knowledge. ~~~L . 's ;Cope nd Sworn to and subscribed before me this ;?~ day of February, 1982. ~NO{~ My Commission Expires: jJ..Ly ~ / ~ / ..v . . 4" l' IN RE: ES'rATE OF ROBERT W. : IN THE COURT OF CO~10N PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ROLAND, JR., CHRISTINA ANN : ROLAND and DAVID G. ROLAND, ORPHANS' COURT DIVISION All Minors Over the Age of 14 NO. 232 ORPHANS' 1978 CONSENT AND JOINDER lffi, Andrea Roland, Robert W. Roland, Jr., Christina Ann Roland and David G. Roland,. having: read the wi thin Petition, do hereby consent and join in the within Petition of Commonwealth National Bank. c. C~/~-~d Andrea Roland ~?t~~ Christina Ann Roland - ~ ~ rJ) G)J.{ d {;. ~()~d David G. Roland i'l - ;; ~ II ~ .. II !!! ii E g I j~. . .. ~ ~~