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Home My WebLink About02-19-08 (2) ESTATE OF BETTY J. LEAPHART File No. 21-06-1031 F AMIL Y SETTLEMENT AGREEMENT THIS AGREEMENT made this ~ day of ~ ,2008, BETWEEN: SUSAN LEAPHART, being the legatee un er the Last Will and Testament of Betty J. Leaphart, late of the Borough of Shippensburg, Cumberland , County, Pennsylvania, AND \~,:) SUSAN LEAPHART, Executrix of the Estate of Betty J. Leaphart, deceased. WHEREAS, Betty J. Leaphart died October 2, 2006, testate, and under her Will' left her estate to the party herein; and WHEREAS, Letters Testamentary were granted to Susan Leaphart on November 21,2006, by the Register of Wills of Cumberland County, Pennsylvania; and WHEREAS, all assets of the late Betty J. Leaphart 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 Executrix, the said party hereto desires to waive the duty of the Executrix 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 desires that a Family Settlement Agreement be executed, which Family Settlement Agreement will be duly recorded among the deed records in and for Cumberland County. WEIGLE 6< ASSOCIATES, Pc. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257,1397 \ NOW, THEREFORE, WITNESSETH, that the party 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 her distributive share as therein shown, does bind herself to the said Distribution and Accounting as set forth and further mutually releases Susan Leaphart, Executrix, from all claims and demands whatsoever arising out of settlement of the Estate of Betty J. Leaphart. The party hereto does further agree that should any liability come due to the estate of the said decedent after the signing of this agreement, she does hereby covenant and agree with the aforesaid personal representative that she will contribute pro rata her share 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 representative after the signing, sealing and delivery of this family settlement agreement and final release. IN WITNESS WHEREOF, the party has hereunto set her hand and seal the day and year first above written. / WITNESS: -JAM1/11J~ Susan Leaphart l" WEIGLE & ASSOCIATES, Pc. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257-1397 COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF CUMBERLAND eI.. On this the 9 - day of ,- rJ.A.",,'v-clt '(/ , 2008, before me, a Notary public in and for said County and State, the undersigned officer, personally appeared SUSAN LEAPHART, 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{ f tc, l~ (SEAL) 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. 21-06-1031 .-------- ---,------.-.-- .----~_.._----_._--_.- ---_.._~_._-_.._.- --_.,._---_...~--------_.- _._-_._-_._-_.~.._--_.----_.__.__._-----_._-_. .._---._---,,-'-'-.- Estate of Betty J. Leaphart, Deceased Late of Borough of Shippensburg Account Susan Leaphart, Executrix 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: 204-03-5675 20-7117096 10/02/2006 None 11/21/2006 12/12/2006 10/02/2006 to 01/25/2008 Purpose of Account: Susan Leaphart, Executrix, offers 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: Jerry A. Weigle Esquire Weigle & Associates, P.C. 126 East King Street Shippensburg, PA 17257 717/532-7388 Supreme Court 1.0. No. 01624 SUMMARY OF ACCOUNT Estate of Betty J. Leaphart, Deceased For the period of October 2. 2006 throuah January 25. 2008 Fiduciary Current Acquisition Proposed Distributions Page Value Value to Beneficiaries 12 11,553.99 11,553.99 PRINCIPAL Receipts: This Account 1 - 2 191,962.61 Net Gain (or Loss) on Sales or Other Dispositions 0.00 191,962.61 Less Disbursements: Debts of Decedent 3 3,415.99 Funeral Expenses 3 9,169.00 Administration Expenses 3-4 2,741.69 Federal and State Taxes 4 7,455.77 Commissions 0.00 Fees 4-5 9,413.63 Family Exemption 5 3,500.00 35,696.08 Balance Before Distributions 156,266.53 Transfer to (from) Principal 0.00 Distributions to Beneficiaries 6 149,931.56 Principal Balance on Hand 7 6,334.97 For Information: Investments Made Changes in Investment Holdings 8-9 INCOME: Receiptt) This Account 10 5,219.02 Net Gain (or Loss) on Sales 0.00 or Other Dispositions 5,219.02 Less Disbursements 0.00 Balance Before Distributions 5,219.02 Transfer to (from) Income 0.00 Distributions to Beneficiaries 0.00 Income Balance on Hand 11 5,219.02 For Information: Investments Made Changes in Investment Holdings COMBINED BALANCE ON HAND 11,553.99 Verification 13 SCHEDULE A RECEIPTS OF PRINCIPAL Fiduciary Acquisition Value Cash 10/02/2006 Check on hand at date of death - Allied Irish 1.042.97 stock dividend payable 09/26/2006 10/02/2006 Citizens Bank Checking Account #6100800334 41.257.37 10/02/2006 Orrstown Bank Certificate of Deposit IRA - 1.818.05 Account # 30041593, beneficiary Susan Leaphart, daughter 10/02/2006 Accrued income on above item through date of 4.42 death Total Cash 44.122.81 Personal Property 10/02/2006 1955 Studebaker Commander 8.150.00 10/02/2006 1979 Motobecane Moped 350.00 10/02/2006 1995 Buick Park Avenue Sedan 400.00 Total Personal Property 8.900.00 Stocks I Listed 10/02/2006 1.623.0000 shares Allied Irish Stock 42.895.89 10/02/2006 2.268.0000 shares Orrstown Bank Stock 83.916.00 Total Stocks / Listed 126.811.89 Total Inventory 179.834.70 Subsequent Principal Receipts 10/02/2006 Commonwealth of Pennsylvania - refund of PA 359.22 inheritance tax on original tax return 01/22/2008 Commonwealth of Pennsylvania - refund of PA 14.43 inheritance tax on supplemental tax return 10/02/2006 Commonwealth of Pennsylvlania - pension 1.002.32 check, October 1 SCHEDULE A RECEIPTS OF PRINCIPAL Continued 07/19/2007 Jackson National Life Insurance Company - Annuity Policy No. 0058880950, proceeds received 7-19-2007. Susan Leaphart, daughter, sole beneficiary U. S. Treasury - 2006 federal income tax refund Total Subsequent Principal Receipts Total Adjustments and Subsequent Receipts 10,565.81 10/02/:2006 186.13 Total Receipts of Principal 2 Fiduciary Acquisition Value 12,127.91 12,127.91 191,962.61 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Debts of Decedent 11/28/2006 Citizens Bank Checking Account #6100800334- 2.254.45 checks clearing after date of death 11/28/2006 R. T. Henry Pharmacy 191.26 01/11/2007 State Employees' Retirement System - refund of 970.28 overpayment Total Debts of Decedent 3,415.99 Funeral Expenses 11/28/2006 Fogelsanger-Bricker Funeral Home 9.169.00 Total Funeral Expenses 9.169.00 Administration Expenses 10/26/2006 Register of Wills, Cumberland County - Letters 299.00 Testamentary and Short Certificates 11/21/2006 Register of Wills, Cumberland County - 2 Short 8.00 Certificates 11/28/2006 Cumberland Law Journal - advertising Letters 75.00 12/05/2006 News Chronicle - advertising Letters 92.75 Testamentary 03/15/2007 Register of Wills, Cumberland County - 1 Short 4.00 Certificate 03/20/2007 Register of Wills, Cumberland County - 1 Short 4.00 Certificate 05/23/2007 Register of Wills, Cumberland County - 2 Short 8.00 Certificates 06/06/2007 Register of Wills, Cumberland County - filing PA 15.00 Inheritance Tax Return 3 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued 06/14/2007 Register of Wills, Cumberland County - 2 Short 8.00 Certificates 10/04/2007 Register of Wills, Cumberland County - filing 15.00 Supplemental PA Inheritance Tax Return 10/05/2007 Bank of New York - indemnity bond for lost 1.255.94 Allied Irish stock certificates 10/05/2007 Linda K. Klein - notary fees 12.00 10/05/2007 Postmaster - certified mailing of Allied Irish 13.10 stock transfer documents and stock certificates 10/05/2007 Register of Wills, Cumberland County - 2 Short 8.00 Certificates ordered 9-18-07 10/05/2007 Weigle & Associates, P .C. - reserve for filing 75.00 Family Settlement Agreement with Register of Wills, Cumberland County 1 0/05/2007 Weigle & Associates, P.C. - reimbursement for 22.50 postage, xerox copies, and long distance telephone calls 10/09/2007 Seaboard Security Company - Orrstown Bank 826.40 lost stock certificates, indemnity bond Total Miscellaneous Administrative Expenses 2.741.69 Federal. State & Local Taxes 10/05/2007 Register of Wills, Cumberland County - 455.77 additional PA inheritance tax on supplemental tax return 12/19/2007 Register of Wills, Cumberland County - PA 7.000.00 inheritance tax at discount Total Taxes 7.455.77 Fees 06/06/2007 Weigle & Associates, P.C. 8.991.00 4 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued 10/04/2007 Weigle & Associates, P.C. - additional attorney fee for supplemental inheritance tax return Total Fees Familv Exemption 10/03/2006 Susan Leaphart - Family Exemption Total Familv Exemption TOTAL DISBURSEMENTS OF PRINCIPAL 5 422.63 3.500.00 9.413.63 3.500.00 35.696.08 Susan Leaphart 10/02/2006 10/02/2006 06/21/2007 06/21/2007 06/21/2007 07/19/2007 10/09/2007 10/09/2007 10/10/2007 SCHEDULE D DISTRIBUTIONS OF PRINCIPAL Orrstown Bank Certificate of Deposit IRA - Account # 30041593 Accrued income on above item through date of death 1955 Studebaker Commander 1979 Motobecane Moped 1995 Buick Park Avenue Sedan Jackson National Life Insurance Company - Annuity Policy No. 0058880950 proceeds 1.623.0000 shares Allied Irish Stock 2.268.0000 shares Orrstown Bank Stock Cash advanced for payment of school real estate taxes - Angela Facchinei, Tax Collector 1.818.05 4.42 8.150.00 350.00 400.00 10.565.81 42.895.89 83.916.00 1.831.39 TOTAL DISTRIBUTIONS TO BENEFICIARIES 6 149.931.56 149.931.56 # Units PRINCIPAL BALANCE ON HAND Description Cash Estate Checking Account Total Cash 7 Current Value 01/25/2008 or as Noted 6.334.97 6.334.97 6.334.97 Fiduciary Acquisition Value 6,334.97 6.334.97 6.334.97 SCHEDULE F CHANGES IN PRINCIPAL HOLDINGS # Units Cost 1955 Studebaker Commander 10/02/2006 inventoried 8.150.00 06/21/2007 distributed -8.150.00 0.00 1979 Motobecane Moped 10/02/2006 inventoried 350.00 06/21/2007 distributed -350.00 0.00 1995 Buick Park Avenue Sedan 10/02/2006 inventoried 400.00 06/21/2007 distributed -400.00 0.00 Allied Irish Stock 10/02/2006 1.623.0000 inventoried 42,895.89 10/09/2007 -1.623.0000 distributed -42.895.89 0.0000 0.00 Jackson National Life Insurance Company 07/19/2007 inventoried 10,565.81 07/19/2007 distributed -10,565.81 0.00 Orrstown Bank Certificate of Deposit IRA 10/02/2006 1 0/02/2006 10/02/2006 10/02/2006 inventoried distributed inventoried distributed 1,818.05 -1,818.05 4.42 -4.42 8 # Units Orrstown Bank Stock 10/02/2006 10/09/2007 SCHEDULE F CHANGES IN PRINCIPAL HOLDINGS Continued 2.268.0000 inventoried -2.268.0000 distributed 0.0000 9 Total Cost 0.00 83.916.00 -83.916.00 0.00 -0.00 SCHEDULE G RECEIPTS OF INCOME Dividend Allied Irish Stock 05/10/2007 2.051.78 09/27/2007 1.247.55 3.299.33 Orrstown Financial Services 11/21/2006 dividend on 2268 shares 453.60 02/23/2007 dividend on 2268 shares 476.28 06/03/2007 dividend on 2268 shares 476.28 06/21/2007 fractional dividend 13.52 09/18/2007 dividend on 2268 shares 500.01 1.919.69 TOTAL DIVIDEND INCOME 5.219.02 TOTAL RECEIPTS OF INCOME 5.219.02 10 # Units Description INCOME BALANCE ON HAND Cash Estate Checking Account Total Cash 11 Current Value 01/25/2008 or as Noted 5.219.02 5.219.02 5.219.02 Fiduciary Acquisition Value 5.219.02 5.219.02 5.219.02 # Units COMBINED BALANCE ON HAND Description Cash Estate Checking Account Total Cash Current Value 01/25/2008 or as Noted 11.553.99 11.553.99 11.553.99 Fiduciary Acquisition Value 11.553.99 11.553.99 11.553.99 TO: Susan Leaphart Cash PROPOSED DISTRIBUTIONS TO BENEFICIARIES Total 12 Current Value 01/25/2008 or as noted 11.553.99 11.553.99 11.553.99 Fiduciary Acquisition Value 11.553.99 11.553.99 11.553.99 In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-06-1031 Estate of Betty J. Leaphart, Deceased Verification Susan Leaphart, Executrix under the Last Will and Testament of Betty J. Leaphart, Deceased, hereby declares under oath that he/she has fully and faithfully discharged the duties of his/her 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. .-J!-!M.Aj10'{~ Dated: ;2- 9- 0 J> 13