HomeMy WebLinkAbout88-00219
TRUST
COURT OF COMMON PLEAS OF
Cumberland COUNTY PENNSYLVANIA
,
ORPHANS' COURT DIVISION
NAME OF TRUST
(TRUST UNDER WILL OF Herman H WaKner, Sr. (Skip Trust)
or
TRUST UNDER DEED OF
DATED
)
No. 21-1988-219
PETITION FOR ADJUDICATION /
STATEMENT OF PROPOSED DISTRIBUTION
PURSUANT TO Pa. O.c. Rule 6.9
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This form may be used in all cases involving the Audit of Trust Accounts. If space is insufficient,
riders may be attached.
INCLUDE ATTACHMENTS AT THE BACK OF THIS FORM.
Name of Counsel: Robert R. Church, Esq.
Supreme Court J.D. No.: 40385
Name of Law Firm: Keefer Wood Allen & Rahal, LLP
Address: 210 Walnut Street, P.O. Box 11963, Harrisburg, PA 17108-1963
Telephone: 717-255-8059
Fax: 717-255-8003
Form OC-02 rev 10.13.06
Page 1 of 10
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Name of Trust: Trust Under the Will of Herman H. Wagner, Sr. ("Skip Trust")
1. Name(s) and addressees) ofPetitioner(s):
Petitioner:
Petitioner:
Name:
David E. Fritchey, Trustee
Address:
915 Greenway Avenue
Morrisville, P A 19067-1023
2. Check if any of the following issues are involved in this case:
A. Appointment of Trustee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 0
B. Interpretation ................................................... 0
C. Discharge of Trustee ............................................. 0
D. Transfer of Situs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 0
E. Appointment of Ad Litem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 0
F. Minor, Unborn or Unascertained Beneficiary(ies) ...................... 0
G. Principal Distribution. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . " 0
H. Partial/Full Termination of Trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 0
I. Missing Beneficiary(ies) .......................................... 0
1. Cy Pres . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 0
K. Williamson Issue* ............................................... 0
L. Other Issues .................................................... lZl
List:
The Trustee seeks approval of the Trustee's administration of the trust
property and the various discretionary income and principal distributions
made during the accounting period.
Please note:
A detailed explanation of issues checked should be set forth at item 13 below.
* See Williamson Estate, 368 Pa. 343, 82 A.2d 49 (1951), if Trustee was also Executor of the settlor/decedent's estate and
received commissions in such capacity.
Form OC-OJ rev 10.13.06
Page 2 of 10
Name of Trust: Trust Under the Will of Herman H. Wagner, Sr. ("Skip Trust")
3. Testamentarv Trust:
Decedent's date of death: March 21, 1988
Date of Decedent's Will: March 5, 1988
Date(s) ofCodicil(s): N/A
Date of probate: March 22, 1988
or
Inter Vivos Trust:
Date of Trust:
Date(s) of Amendment(s):
4. A. If any other Court has taken jurisdiction of any matter relating to this Trust, explain:
None
B. Identify all prior accountings and provide dates of adjudication.
The Trustee's First and Intermediate Account was confirmed August 22, 1995.
The Trustee's Second and Intermediate Account was confirmed March 6, 2001.
5. A. State how each Trustee was appointed:
Herman H. Wagner, Sf., appointed David E. Fritchey Trustee of the Trust pursuant
to Item Tenth of his Last Will and Testament, dated March 5, 1988.
B. If a Petitioner is not a Trustee, explain:
N/A
Form DC-02 rev 10.13.06
Page 3 of 10
Name of Trust: Trust Under the Will of Herman H. Wagner, Sf. ("Skip Trust")
6. State how and when the present fund was awarded to Trustee(s):
See attached Addendum.
7. Period covered by accounting: August 1, 2000
to December 31, 2007
8. Current fair market value of the Trust principal is $ 515,392.78
8 of Account.)
. (See page
9. State concisely the dispositive provisions of the Trust:
See attached Addendum.
10. Explain the reason for filing this Account (if filed because of the death of a party, state
name of person, relationship to Trust and date of death):
The Third and Intermediate Accounting of the Trustee is filed to provide an interim
accounting of the Trustee's administration of the Trust during the accounting period from
August 1,2000 to December 31,2007.
Form OC-02 rev 10.13.06
Page 4 of 10
-
Name of Trust: Trust Under the Will of Herman H. Wagner, Sr. ("Skip Trust")
11. State why a Petition for Guardian/Trustee Ad Litem has or has not been filed for this
Audit (see Pa. O.C. Rule 12.4):
N/A
12. A. State the amount of Pennsylvania Transfer Inheritance Tax and Pennsylvania Estate
Tax paid (including postponed tax on remainder interests), the dates of payment and
the interests upon which such amounts were paid:
Date
Payment
Interest
N/A
B. If any such taxes remain unpaid or are in dispute, explain:
None.
13. Describe any questions requiring Adjudication and state the position ofPetitioner(s) and
give details of any issues identified in item 2:
The Trustee seeks approval of his administration of the Trust property and the various
discretionary income and principal distributions made during the accounting period.
Form OC-02 rev 10.13.06
Page 5 of 10
-
Name of Trust: Trust Under the Will of Herman H. Wagner, Sr. ("Skip Trust")
14. Written notice of the Audit as required by Pa. a.c. Rules 6.3, 6.7 and 6.8 has been or will
be given to all parties in interest listed in item 15 below. In addition, notice of any
questions requiring Adjudication as discussed in item 13 above has been or will be given
to all persons affected thereby.
A. If Notice has been given, attach a copy of the Notice as well as a list of the names
and addresses of the parties receiving such notice.
B. If Notice is yet to be given, a copy of the Notice as well as a list of the names and
addresses of the parties receiving such Notice shall be submitted at the Audit
together with a statement executed by Petitioner(s) or counsel certifying that such
Notice has been given.
C. If any such party in interest is not sui juris (e.g., minors or incapacitated persons),
Notice of the Audit has been or will be given to the appropriate representative on
such party's behalf as required by Pa. a.c. Rule 5.2.
D. If any charitable interest is involved, Notice of the Audit has been or will also be
given to the Attorney General as required under Pa. a.c. Rule 5.5. In addition,
the Attorney General's clearance certificate (or proof of service of Notice and a
copy of such Notice) must be submitted herewith or at the Audit.
15. List all parties of whom Petitioner(s) has/have notice or knowledge, having or claiming
any interest in the Trust, whether such interest is vested or contingent, charitable or
non-charitable. This list shall:
A. State each party's relationship to the Settlor/Decedent and the nature of each
party's interest(s);
in Interest
Relationshi and Comments, i an Interest
Wendy Wagner
1319 N E 14th Avenue
Fort Lauderdale, FL 33304
great-granddaughter Income and
discretionary
principal
Summer Wagner Lyman
214 Wildwood Circle
Key Largo, FL 33037
great-granddaughter Income and
discretionary
principal
Form OC-02 rev 10./3.06
Page 6 of 10
Name of Trust: Trust Under the Will of Herman H. Wagner, Sr. ("Skip Trust")
Name and Address of Each Partv in Interest
Relationshio and Comments, if anv Interest
Dawn Wagner
413 Westminster Blvd.
Oldsmar, FL 34677
great-granddaughter Income and
discretionary
principal
Russell Wagner
11599 W. Clearwater Court
Homosassa, FL 34448
grandson Income and
discretionary
principal
B. Identify each party who is not sui juris (e.g., minors or incapacitated persons).
For each such party, give date of birth, the name of each Guardian and how each
Guardian was appointed. If no Guardian has been appointed, identify the next of
kin of such party, giving the name, address and relationship of each; and
Edward Abel Torres (great, great-grandson), Date of Birth: February 1, 1997
c/o Dawn Wagner, parent and natural guardian.
Continued on attached Addendum.
C. If distribution is to be made to the personal representative of a deceased party,
state date of death, date and place of grant of Letters and type of Letters granted.
N/A
16. IfPetitioner(s) haslhave knowledge that a Trust share has been assigned or attached,
provide a copy of the assignment or attachment, together with any relevant supporting
documentation.
17. If a trustee's principal commission is claimed:
A. Ifbased on a written agreement, attach a copy thereof.
Form OC-02 rev 10./3.06
Page 7 of 10
Name of Trust: Trust Under the Will of Herman H. Wagner, Sr. ("Skip Trust")
B. If a principal commission is claimed, state amount.
$20,000.00, paid previously, as shown in Third and Partial Account
C. If a principal commission is claimed, state the amounts and dates of any principal
commissions previously paid in prior accounting periods.
Amount
Date Paid
36,250.00
First and Intermediate Account 6/5/89-12/31/94
47,250.00
Second and Intermediate Account 1/1/95-7/31/00
18. If a reserve is requested, state amount and purpose.
Amount:
Purpose:
If a reserve is requested for counsel fees, has notice of the
amount of fees to be paid from the reserve been given to the
parties in interest? ........................................ D Yes IZINo
If so, attach a copy of the notice.
19. Is the Court being asked to direct
the filing ofa Schedule of Distribution? .......................... DYes IZINo
Form OC-02 rev 10.13.06
Page 8 of 10
Name of Trust: Trust Under Will of Herman H. Wagner, Sr., deceased
Wherefore, your Petitioner(s) ask(s) that distribution be awarded to the parties entitled
and suggest( s) that the distributive shares of income and principal (residuary shares being stated
in proportions, not amounts) are as follows:
A. Income:
Proposed Distributee(s) Amount/Proportion
To David E. Fritchey, Trustee of the Skip 100%
Trust Under The Last Will and Testament
of Herman H. Wagner, Deceased, for
further administration
B. Principal:
Proposed Distributee(s) Amount/Proportion
To David E. Fritchey, Trustee of the Skip 100%
Trust Under The Last Will and Testament
of Herman H. Wagner, Deceased, for
further administration
Submitted By:
(All petitioners must sign.
Add additional lines ifnecessary):
chey
Name of Petitioner:
Form OC-OJ rev 10.13.06
Page 9 of 10
Name of Trust: Trust Under Will of Herman H. Wagner, Sr., deceased
Verification of Petitioner
(Verification must be by at least one petitioner.)
The undersigned hereby verifies * [that he/she he
is title Trustee
of the aQo"e Q6Imed nameo(cm:pnrn/;n'l Herman H. Wagner, Sr., Trust U/W and] that the facts set
forth in the foregoing Petition for Adjudication / Statement of Proposed Distribution which are
within the personal knowledge of the Petitioner are true, and as to facts based on the information
of others, the Petitioner, after diligent inquiry, believes them to be true; and that any false
statements herein are made subject to the penalties of 18 Pa. C.S. S 4904 (relating to unsworn
falsification to authorities).
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* Corporate petitioners must complete bracketed information.
Certification of Counsel
The undersigned counsel hereby certifies that the foregoing Petition for Adjudication /
Statement of Proposed Distribution is a true and accurate reproduction of the form Petition
authorized by the Supreme Court, and that no changes to the form have been made beyond the
responses herein.
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Signature of Counsel for Petitioner
Form OC-02 rev 10.13.06
Page 10 of 10
ADDENDUM TO PETITION FOR ADJUDICATION/
STATEMENT OF PROPOSED DISTRIBUTION
PURSUANT TO Pa.O.c. RULE 6.9
Name of Trust:
Trust Under Will of Herman H. Wagner, Sr. ("Skip Trust")
No. 21-1988-219
Additional Information Re: Page 4, #6.
The present fund was originally awarded to the Trustee by that certain Decree of
Distribution ofthis court (per Sheely, J.), dated January 14, 1991, by which the residue of the
Testator's probate estate was awarded to the Trustee for the Skip Trust described in the
Testator's Last Will.
Additional Information Re: Page 4, #9.
Pursuant to Paragraph Sixth of the Last Will and Testament of Herman H. Wagner, Sr.,
dated March 5, 1988, the Testator directed the Trustee to distribute income and principal to or for
the benefit of one or more of the Testator's issue (in such proportions as the Trustee determines)
primarily for medical care, education, support and maintenance in reasonable comfort of the
Testator's issue. The Trustee may take into consideration, to the extent it deems it advisable,
known income and resources of the Testator's issue.
Upon the death of the Testator's last surviving issue living at the time of the Testator's
death, the Trust terminates, and then the remaining income and principal is to be distributed
among the Testator's then living issue, in such proportions as the Trustee determines. Ifthere
are no living issue, the property is distributed to Franklin and Marshall College (located in
Lancaster, Pennsylvania) for its unrestricted use.
- 1 -
Additional Information Re: Page 7, #15A.
Name and Address of Each Party Relationship and Comments Interest
Terry Wagner grandson Income and discretionary
P.O. Box 261163 principal
Tampa, FL 33685-1163
Edward Abel Torres great, great-grandson Income and discretionary
c/o Dawn Wagner, Parent and principal
Natural Guardian
413 Westminster Blvd.
Oldsmar, FL 34677
Remington Meck Gagnard- Wagner great, great-grandson Income and discretionary
c/o Wendy Wagner, Parent and principal
Natural Guardian
1319 NE 14th Avenue
Fort Lauderdale, FL 33304
Additional Information Re: Page 7, #15B.
Remington Meck Gagnard-Wagner (great, great-grandson), Date of Birth: April 7, 1998
c/o Wendy Wagner, parent and natural guardian
- 11 -
IN THE MATTER OF THE
TRUST UNDER WILL OF
HERMAN H. WAGNER, SR.,
DECEASED
(j kill) fen.
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IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY, PENNSYL VANIA
ORPHANS' COURT DIVISION
NO. 21-88-219
THIRD AND INTERMEDIARY ACCOUNT OF THE TRUST
UNDER THE WILL OF HERMAN H. WAGNER. SR.
David E. Fritchey, Trustee
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Counsel:
Keefer Wood Allen & Rahal, LLP
Robert R. Church, Esquire
Identification No. 40385
210 Walnut Street
P.O. Box 11963
Harrisburg, PA 17108-1963
717-255-8003
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SUMMARY OF ACCOUNT
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
Page
Principal
Receipts
Net Gain (or Loss) on Sales or Other Dispositions
Other Receipts
Less Disbursements
Fees and Commissions (Prin)
Other Expenses (Prin)
Balance before Distributions
Distributions to Beneficiaries
Principal Balance on Hand
For Information:
Investments Made
Changes in Investment Holdings
Income
Receipts
Less Disbursements
Balance before Distributions
Distributions to Beneficiaries
Income Balance on Hand
Combined Balance on Hand
1
2-3
4
4-5
6-7
8
9
9-12
13-16
17
Fiduciary
Acquisition
Value
$ 254,380.37
71,412.03
0.00
$ 325,792.40
$ 33,412.09
1,842.19
35,254.28
$ 290,538.12
122,038.43
$ 168,499.69
$ 57,400.88
0.00
$ 57,400.88
51,611.57
$ 5,789.31
$ 174,289.00
Assets Listed in Inventory
(Valued as of date received)
Money Market Accounts
Wachovia Money Market Account
Common Stocks
AIM Constellation Fund
1,984.025 Units
Consolidated Edison Inc
800 Units
Exelon Corp
2,000 Units
Jennison Global Growth Fund CI A
2,952.742 Units
Jennison Utility Fund CI A
2,160.867 Units
PP&L Resources Inc
3,200 Units
The Hershey Company
2,000 Units
Merrill Lynch Capital Fund
2,019.275 Units
TOTAL INVENTORY
RECEIPTS OF PRINCIPAL
Herman H. Wagner Trust under Will
As of 12/31/2007
Page 1
Fiduciary
Acquisition
Value
$ 21,608.83
$ 41,054.08
17,825.00
19,187.50
45,344.16
23,804.14
28,450.00
13,312.50
43,794.16
232,771.54
$ 254,380.37
GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS Page 2
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
Gain Loss
10/10/2006 Sale of Jennison Utility Fund Shares
2,176.099 Units
Net Proceeds $ 34,681.02
Fiduciary Acquisition Value 24,032.78
Net Gain $ 10,648.24
12/6/2006 Sale of 200 sh Exelon Corp
200 Units
Net Proceeds $ 12,277.61
Fiduciary Acquisition Value 1,918.75
Net Gain 10,358.86
12/20/2006 Received distribution of L T cap gain
Net Proceeds $ 2,663.92
Fiduciary Acquisition Value 0.00
Net Gain 2,663.92
12/20/2006 Received distribution of ST Cap gain
Net Proceeds $ 76.39
Fiduciary Acquisition Value 0.00
Net Gain 76.39
4/27/2007 Sale of PP&L
405 Units
Net Proceeds $ 17,883.27
Fiduciary Acquisition Value 3,600.70
Net Gain 14,282.57
5/31/2007 Sale of 200 sh Exelon Corp
200 Units
Net Proceeds $ 15,476.26
Fiduciary Acquisition Value 1,918.75
Net Gain 13,557.51
GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS Page 3
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
Gain Loss
8/6/2007 Sale of 400 sh PP&L
400 Units
Net Proceeds $ 19,341.20
Fiduciary Acquisition Value 3,556.25
Net Gain $ 15,784.95
12/21/2007 Received distribution of L T cap gain
Net Proceeds $ 3,622.07
Fiduciary Acquisition Value 0.00
Net Gain 3,622.07
12/21/2007 Received distribution of ST cap gain
Net Proceeds $ 417.52
Fiduciary Acquisition Value 0.00
Net Gain 417.52
Net Gain $ 71,412.03
Fees and Commissions (Prin)
1/30/2006 David E. Fritchey
trustees fee
5/3/2006 Keefer Wood Allen & Rahal
Legal fees
5/09/2006 David E. Fritchey
Trustee's fee
7/17/2006 David E. Fritchey
Trustees fee
10/23/2006 David E. Fritchey
Trustee's fee
2/26/2007 Paid David E. Fritchey
Trustee's commission
DISBURSEMENTS OF PRINCIPAL
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
4/27/2007 Keefer Wood Allen & Rahal, LLP
legal fees for 2006
517/2007 David E. Fritchey
Trustee's Fee
7/26/2007 David E. Fritchey
Trustee's Fee
10/9/2007 David E. Fritchey
quarterly Trustee's fee
Other Expenses (Prin)
3/31/2006 Margin Loan Interest
4/1/2006 Margin Loan Interest
5/30/2006 margin loan interest
6/29/2006 margin loan interest
7/28/2006 margin loan interest
8/30/2006 margin loan interest
9/28/2006 Margin loan interest
Page 4
$ 2,500.00
6,868.51
2,500.00
2,500.00
2,500.00
2,500.00
6,543.58
2,500.00
2,500.00
2,500.00
$ 33,412.09
$
60.08
63.87
141.94
164.34
160.89
225.34
252.42
10/27/2006 Margin Loan interest
11/29/2006 Margin loan Interest
12/28/2006 margin loan interest
1/30/2007 margin loan interest
2/27/2007 Margin Loan interest
3/29/2007 Margin loan interest
4/30/2007 Margin Loan Interest
5/30/2007 Margin loan interest
6/27/2007 Margin loan interest
8/31/2007 margin loan interest
10/30/2007 Margin Loan interest
11/29/2007 Margin Loan Interest
12/28/2007 margin loan interest
DISBURSEMENTS OF PRINCIPAL
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
TOTAL DISBURSEMENTS OF PRINCIPAL
$
99.52
118.71
60.39
4.42
5.61
85.82
138.91
65.55
11.11
8.09
6.51
61.73
106.94
Page 5
$ 1,842.19
$ 35,254.28
DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
Page 6
To: Dawn Wagner
Beneficiary distribution
Total for Dawn Wagner
$ 3,250.00
7,000.00
7,250.00
2,600.00
3,500.00
5,000.00
3,500.00
4,000.00
$36,100.00
7/14/2006 Cash
12/19/2006 Cash
4/4/2007 Cash
5/31/2007 Cash
7/30/2007 Cash
9/1/2007 Cash
9/20/2007 Cash
12/21/2007 Cash
To: Terry J. Wagner
Beneficiary distribution
12/19/2006 Cash
1,538.43
1,000.00
10/30/2006 Cash
5/9/2007 Cash
8,000.00
3,000.00
3,000.00
850.00
3/5/2007 Cash
4/4/2007 Cash
5/23/2007 Cash
7/2/2007 Cash
3,650.00
2,000.00
9/20/2007 Cash
10/19/2007 Cash
2,700.00
12/4/2007 Cash
2,000.00
1,200.00
12/20/2007 Cash
Total for Terry J. Wagner
28,938.43
DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
To: Russell Wagner
Beneficiary distribution
12/19/2006 Cash
8/6/2007 Cash
12/21/2007 Cash
Total for Russell Wagner
To: Wendy Wagner
Beneficiary distribution
10/30/2006 Cash
12/19/2006 Cash
4/30/2007 Cash
6/29/2007 Cash
11/15/2007 Cash
Total for Wendy Wagner
To: Summer Lyman
Beneficiary distribution
12/19/2006 Cash
12/21/2007 Cash
Total for Summer Lyman
$ 3,000.00
5,000.00
5,000.00
10,000.00
1,000.00
6,000.00
4,000.00
10,000.00
3,000.00
10,000.00
TOTAL DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES
Page 7
$13,000.00
31,000.00
13,000.00
$ 122,038.43
PRINCIPAL BALANCE ON HAND
Herman H. Wagner Trust under Will
As of 12/31/2007
Page 8
Current Carrying
Value Value
$58,270.81 $41,054.08
39,080.00 17,825.00
130,624.00 15,350.00
124,755.55 21,293.05
78,800.00 13,312.50
53,732.57 44,497.50
62,553.79 47,591.50
Common Stocks
AIM Constellation Fund
1,984.025 Units
Consolidated Edison Inc
800 Units
Exelon Corp
1,600 Units
PP&L Resources Inc
2,395 Units
The Hershey Company
2,000 Units
Blackrock Balanced Capital Fund Class I
2,046.955 Units
Dryden Inti Equity Fund Class A
6,806.724 Units
Other Liabilities
Wachovia Margin Loan
PRINCIPAL BALANCE ON HAND
(26,634.63)
$521,182.09
5,789.31
$515,392.78
(26,634.63)
$174,289.00
5,789.31
Less: Income balance on hand
$168,499.69
INFORMATION SCHEDULES
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
Page 9
Investments Made
Blackrock Balanced Capital Fund Class I
10/2/2006 Merrill Lynch Capital Fund name change to Blackrock
Balanced Capital Fund Class I
2,046.955 Units
$ 44,497.50
Dryden Inti Equity Fund Class A
12/15/2006 Exchange of Jennison Global Growth Shares for Dryden
Inti Shares
6,563.505 Units
$ 45,344.16
12/31/2007 Dividend reinvestment from L T cap gains for Dryden Inti
Equity Fund Class A
243.219 Units $ 2,247.34
$ 47,591.50
Wachovia Margin Loan
7/31/2007 cash advance from margin loan $ 3,013.32
11/7/2007 Cash Advance from Margin Loan $ 1,847.52
4,860.84
Changes in Investment Holdings
Exelon Corp $ 19,187.50
12/6/2006 Sale of 200 sh Exelon Corp
200 Units (1,918.75)
5/31/2007 Sale of 200 sh Exelon Corp
200 Units (1,918.75)
15,350.00
Jennison Global Growth Fund CI A $ 45,344.16
12/15/2006 Exchange of Jennison Global Growth Shares for Dryden
Inti Shares
2,952.742 Units (45,344.16)
0.00
INFORMATION SCHEDULES
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
Jennison Utility Fund CI A
3/31/2006 Dividend reinvestment from L T Cap Gains for Jennison
Utility Fd
12.526 Units
3/31/2006 Dividend reinvestment fro ST Cap Gains for Jennison
Utility Fd
2.706 Units
10/10/2006 Sale of Jennison Utility Fund Shares
2,176.099 Units
PP&L Resources Inc
4/27/2007 Sale of PP&L
405 Units
8/6/2007 Sale of 400 sh PP&L
400 Units
Merrill Lynch Capital Fund
1/1/2006 Income reinvestment accumulated in previous account-
27.68 shares
27.68 Units
10/2/2006 Merrill Lynch Capital Fund name change to Blackrock
Balanced Capital Fund Class I
2,046.955 Units
Wachovia Margin Loan
2/27/2006 cash advance from Margin Loan
2/28/2006 Transfer cash to repay margin loan
4/19/2006 transfer cash to repay margin loan
5/9/2006 cash advance from margin loan
5/9/2006 cash advance from margin loan
Page 10
$ 23,804.14
188.02
40.62
(24,032.78)
$ 0.00
$ 28,450.00
(3,600.70)
(3,556.25)
21,293.05
$ 43,794.16
703.34
(44,497.50)
0.00
$ 4,860.84
9,636.70
(49.12)
(1,775.68)
6,052.38
1,000.00
INFORMATION SCHEDULES
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
Page 11
5/30/2006 cash advance from Margin Loan $ 2,641.94
7/11/2006 Transfer cash to repay margin loan $ (1,910.77)
7/19/2006 cash advance from margin loan $ 3,250.00
8/25/2006 cash advance from margin loan $ 9,000.00
9/11/2006 cash advance from margin loan $ 225.34
9/11/2006 cash advance from margin loan $ 1,420.13
9/29/2006 cash advance from margin loan $ 3,250.00
9/30/2006 Transfer cash to repay margin loan $ (1,790.00)
11/9/2006 cash advance from margin loan $ 1,713.05
11/9/2006 Transfer cash to repay margin loan $ (18,581.02)
11/29/2006 cash advance from margin loan $ 118.54
12/12/2006 Transfer cash to repay margin loan $ (12,277.61)
1/5/2007 Transfer cash to repay margin loan $ (539.32)
217/2007 Transfer cash to repay margin loan $ (876.08)
2/28/2007 cash advance from margin loan $ 2,505.61
3/5/2007 cash advance from margin loan $ 8,000.00
3/29/2007 Transfer cash to repay margin loan $ (1,710.18)
4/4/2007 cash advance from margin loan $ 10,250.00
4/30/2007 cash advance from margin loan $ 12,543.58
4/30/2007 Transfer cash to repay margin loan $ (3,123.04)
5/2/2007 Transfer cash to repay margin loan $ (17,883.27)
6/4/2007 Transfer cash to repay margin loan $ (11,091.18)
8/8/2007 Cash advance from margin loan $ 5,000.00
8/9/2007 Transfer cash to repay margin loan $ (8,013.32)
11/28/2007 cash advance from margin loan $ 10,061.73
INFORMATION SCHEDULES
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
12/21/2007 Cash advance from Margin Loan
12/28/2007 cash advance from margin loan
12/31/2007 Cash advance from margin loan
$ 11,418.44
$ 106.94
$ 3,200.00
Page 12
$ 26,634.63
RECEIPTS OF INCOME
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
Page 13
Dividends
Consolidated Edison Inc
9/15/2006 Sept Dividend
$ 460.00
460.00
460.00
460.00
464.00
464.00
464.00
464.00
3,696.00
3/15/2006 March Dividend
6/15/2006 June Dividend
12/15/2006 Dec Dividend
3/15/2007 March Dividend
6/15/2007 June Dividend
9/17/2007 Dividend
12/17/2007 Dividend
Exelon Corp
3/10/2006 March Dividend 800.00
6/15/2006 June Dividend 800.00
9/11/2006 Sept Dividend 800.00
12/11/2006 Dec Dividend 800.00
3/12/2007 March Dividend 792.00
6/11/2007 June Dividend 792.00
9/10/2007 Dividend 704.00
12/10/2007 Dividend 704.00
6,192.00
Jennison Global Growth Fund CI A
12/13/2006 Dec Dividend
71.90
Jennison Utility Fund CI A
3/31/2006 March Dividend
75.78
RECEIPTS OF INCOME
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
Page 14
3/31/2006 Dividend reinvestment from L T Cap Gains for Jennison
Utility Fd
$
188.02
3/31/2006 Dividend reinvestment fro ST Cap Gains for Jennison
Utility Fd
40.62
6/30/2006 June Dividend
325.11
9/29/2006 Sept Dividend
242.42
871.95
PP&L Resources Inc
1/3/2006 Jan Dividend 800.00
4/1/2006 April Dividend 880.00
7/3/2006 July Dividend 880.00
10/2/2006 Oct Dividend 880.00
1/2/2007 Jan Dividend 880.00
4/2/2007 April Dividend 976.00
7/2/2007 July Dividend 852.48
10/1/2007 Dividend 730.48
6,878.96
The Hershey Company
3/15/2006 March Dividend 490.00
6/15/2006 June Dividend 490.00
9/15/2006 Sept Dividend 540.00
12/15/2006 Dec Dividend 540.00
3/15/2007 March Dividend 540.00
6/15/2007 June Dividend 540.00
9/14/2007 Dividend 595.00
12/14/2007 Dividend 595.00
4,330.00
RECEIPTS OF INCOME
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
Merrill Lynch Capital Fund
1/1/2006 Income reinvestment accumulated in previous account-
27.68 shares
7/20/2006 July Dividend
Blackrock Balanced Capital Fund Class I
12/20/2006 Dec Dividend
7/20/2007 July Dividend
12/21/2007 Dividend
Dryden Inti Equity Fund Class A
12/31/2007 Dividend
12/31/2007 Dividend reinvestment from L T cap gains for Dryden Inti
Equity Fund Class A
Total Dividends
Interest
Wachovia Trust Checking Account
1/1/2006 Accumulated Income from previous account
Wachovia Money Market Account
1/1/2006 Accumulated income from previous account
1/30/2006 Jan interest
2/28/2006 Feb Interest
317/2006 March Interest
10/31/2006 Oct Interest
11/2/2006 Nov Interest
$
703.34
360.76
1,064.10
983.48
601.54
877.14
2,462.16
901.83
2,247.34
3,149.17
2,285.76
4,197.65
56.82
49.12
9.98
6.47
0.17
Page 15
$ 28,716.24
RECEIPTS OF INCOME
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
12/29/2006 Dec Interest
1/4/2007 Jan Interest
4/30/2007 April Interest
5/7/2007 May Interest
6/15/2007 June Interest
7/30/2007 Interest
8/31/2007 Interest
9/28/2007 Interest
10/19/2007 Interest
Total Interest
Other Income
Prudential Discovery Select Variable Annuity
12/28/2006 Distribution from Pruco Annuity
6/7/2007 Accumulated Income distribution from Pruco Variable
Annuity
Total Other Income
TOTAL RECEIPTS OF INCOME
$ 4.02
0.50
0.19
1.40
19.77
7.07
23.47
19.64
2.61
4,398.88
10,000.00
12,000.00
22,000.00
Page 16
$
6,684.64
22,000.00
$ 57,400.88
DISTRIBUTIONS OF INCOME TO BENEFICIARIES
Herman H. Wagner Trust under Will
For Period 8/1/2000 Through 12/31/2007
To: Dawn Wagner
Beneficiary distribution
2/27/2006 Cash
5/9/2006 Cash
8/25/2006 Cash
9/29/2006 Cash
10/30/2006 Cash
Total for Dawn Wagner
To: Terry J. Wagner
Beneficiary distribution
2/24/2006 Cash
8/25/2006 Cash
10/30/2006 Cash
Total for Terry J. Wagner
To: Russell Wagner
Beneficiary distribution
2/24/2006 Cash
To: Wendy Wagner
Beneficiary distribution
2/24/2006 Cash
To: Summer Lyman
Beneficiary distribution
2/24/2006 Cash
$ 5,300.00
1,000.00
5,000.00
3,250.00
3,600.00
5,000.00
4,000.00
961.57
TOTAL DISTRIBUTIONS OF INCOME TO BENEFICIARIES
Page 17
$18,150.00
9,961.57
7,500.00
9,000.00
7,000.00
$ 51,611.57
IN RE:
TRUST UNDER WILL OF
HERMAN H. WAGNER, SR.,
DECEASED
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
ORPHANS' COURT DIVISION
NO. 219 OF YEAR 1988
AFFIDAVIT OF ACCOUNTING PARTY
Subject to the penalties of 19 Pa. C.S.A. S4904, relating to unsworn falsification(s) to
authorities, David E. Fritchey, the Trustee of the Skip Trust established under Paragraph Fifth
and Sixth of the Last Will and Testament of Herman H. Wagner, Sr., Deceased (the "Trust"),
hereby declares under oath that he has fully and faithfully discharged the duties of his office; that
the foregoing Third and Interim Account is true and correct, and fully discloses all significant
transactions occurring during the accounting period; that all known claims against the Trust have
been paid in full; that, to his knowledge, there are no claims now outstanding against the Trust;
and that all taxes currently due from the Trust have been paid.
COMMONWEALTH OF PENNSYLVANIA
SS.
COUNTY OF DAUPHIN
On this 8th day of April, 2008, before me, the undersigned officer, personally appeared
David E. Fritchey, Trustee as aforesaid, who executed the foregoing instrument for the purposes
set forth above.
IN WI1NESS WHEREOF, I hereunder set my h~d and Offi~ .J.
~~.G~b
Notary Public
COMMONWEALrH OF PENNSYLVANIA
Notarial Seal
Kristi P. Foster, Notary Public
City of Harrisburg, Dauphin County
My Commission Expires Sept. 8, 2008
Member, Pennsylvania Association of Notaries
-
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:~ ,'1t' :c.~~_ '. h_:.
LAST WILL AND TESTAMENT OF
HERMAN H. WAGNER, SR.
I, HERMAN H. WAGNER, SR., of the Borough of New Cumberland,
Cumberland County, Pennsylvania, do hereby make this my Last will
and Testament, revoking any former Wills and Codicils made by rue.
FIRST:
I have one child, HERY~N H. WAGNER, JR. He is
described in this will as "my child." I have two grandchildren:
TERRY JON WAGNER and RUSSELL ALLEN WAGNER. These and any other
children born to or adopted by my child are described in this
will as "my grandchildren." My child, my grandchildren, and my
more remote descendants, and any children born to or adopted by
any of them, are collectively referred to in this vlill as "my
issue." However, the term "issue" or "my issuell shall not
include any adopted person unless the order or decree of adoption
is entered before such person attains the age of eighteen (18)
years.
SECOND:
I give and bequeath my tangible personal property
and any insurance that I am carrying on my tangible personal
property to my friend, MARIE M. CASAZZA, or if she does not
survive me, to my friend, DAVID E. FRITCHEY.
THIRD: I give and bequeath the sum of One Thousand
($1,000.00) Dollars to Franklin and Marshall College, Lancaster,
Pennsylvania, without restriction as to use.
FOURTH:
I give and bequeath the sum of One Thousand
($1,000.00) Dollars to the United
:jr7VUrCh,
Sixteenth and
-1-
Bridge Streets, New Cumberland, Pennsylvania, without restriction
as to use.
FIFTH:
I give, devise and bequeath the rest, residue and
remainder of my estate, real and personal, to my Trustee, herein-
after named, IN TRUST NEVERTHELESS, upon the terms hereinafter
set forth. My Trustee shall divide such residue, including any
other property or proceeds of insurance received by my Trustee as
a result of my death, hereinafter designated as the Trust Estate,
into two (2) separate shares, hereinafter designated as the "Skip
Trust" and the "Overflow Trust." The Skip Trust shall be a
fraction of the Trust Estate (undiminished by any estate, inheri-
tance, succession, death or similar taxes), the numerator of
which shall be an amount equal to the generation-skipping tax
exemption (GST Exemption) provided in Section 2631 of the In-
ternal Revenue Code of 1986, as amended, in effect at the time of
my death, reduced by the aggregate amount, if any, of such
exemption allocated to my lifetime transfers, and the denominator
shall be an amount equal to the value of the Trust Estate. For
purposes of establishing such fraction, the values finally fixed
in the federal estate tax proceeding for my estate shall be used.
I recognize that the Skip Trust may absorb the entire Trust
Estate, in which case no property shall be distributed to the
Overflow Trust. The Overflow Trust shall be the balance of the
Trust Estate. The Skip Trust and the Overflow Trust shall be
held, administered and distributed as hereinafter set forth.
~jf~
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SIXTH:
The Skip Trust shall be held, ~dministered and
distributed as follows:
(1) Commencing with the date of my death, my Trustee
~hall pay to or apply for the benefit of anyone or more of my
said lssue, until the distribution date specified in Paragraph
(4), all of the net income from the Skip Trust in convenient
installments in such shares and proportions as my Trustee in its
sole discretion shall determine primarily for the medical care,
education, support and maintenance in reasonable comfort of my
said issue, taking into consideration to the extent my Trustee
deems advisable, any other income or resources of my said issue
known to my Trustee.
(2) Prior to division into shares at the distribution
date, pursuant to Paragraph (4), my Trustee may pay to or apply
for the benefit of anyone or more of my said issue such sums
from the principal of the Skip Trust in such shares and pro-
portions as in its sole discretion shall be necessary or advis-
able from time to time for the medical care, education, support
and maintenance in reasonable comfort of my said issue, taking
into consideration to the extent my Trustee deems advisable, any
other income or resources of my said issue known to my Trustee.
Any payment or application of benefits for my issue pursuant to
this Paragraph shall be charged against this Trust as a whole
rather than against the ultimate distributive share of a benefi-
ciary to whom or for whose benefit the payment is made.
ffW-
-3-
(3) Although the discretion of my Trustee shall be
sole and absolute in making distributions of principal and income
to my issue, I nevertheless suggest that my Trustee consider
exercising its discretion so that my child and my grandchildren
each receive, per capita, approximately equal shares of net
income from the Skip Trust during their joint lifetimes, and that
following the death of my child, my grandchildren and their
respective issue, if any, receive, per stirpes, approximately
equal shares of net income from the Skip Trust during their
respective lifetimes.
(4) Upon the death of the last to die of my issue
living at my death (the distribution date), the entire remaining
principal of the Skip Trust, including any undistributed income,
shall be distributed by my Trustee among my then-surviving issue,
as my Trustee shall determine, in its sole and absolute dis-
cretion.
(5) Although the discretion of my Trustee shall be
sole and absolute in making distribution among my issue surviving
at the distribution date, I nevertheless suggest that my Trustee
exercise its discretion so that my then-surviving issue receive
equal shares, per capita, if all beneficiaries are of the same
generation, and equal shares, per stirpes, if one or more benefi-
ciaries are of a younger generation.
(6) If at the time of my death, or at any later time
prior to final distribution hereunder, all my issue are deceased
#~
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and no other disposition of the property 1S directed by this
Trust, then, and in that event only, the then-remaining property
of this Trust, together with any undistributed income, shall be
paid over and distributed to Franklin and Marshall College,
Lancaster, Pennsylvania, or its successors in interest, without
restriction as to use.
SEVENTH: The Overflow Trust shall be held, administered and
distributed as follows:
(1) Commencing with the date of my death, my Trustee
shall pay to or apply for the benefit of my child, until division
into shares pursuant to Paragraph (4), so much of the net income
from the Overflow Trust in convenient installments in such shares
and proportions as my Trustee in its sole discretion shall
determine primarily for the medical care, education, support and
maintenance in reasonable comfort of my child, taking into
consideration to the extent my Trustee deems advisable, any other
income or resources of my child known to my Trustee. Any income
not distributed shall be added to principal and shall pass as
hereafter described.
(2) Prior to division into shares pursuant to Para-
graph (4), my Trustee may pay to or apply for the benefit of my
child such sums from the principal of the Overflow Trust in such
shares and proportions as in its sole discretion shall be neces-
sary or advisable from time to time for the medical care, educa-
tion, support and maintenance in reasonable comfort of my child,
~f(/
\
-5-
taking into consideration to the extent my Trustee deems advis-
able, any other income or resources of my child known to my
Trustee.
(3) Upon the death of my child, if a federal genera-
tion skipping transfer tax would be imposed on the Overflow Trust
at a rate equal to or higher than the marginal federal estate tax
rate which wculd be imposed upon my child's estate (assuming that
the principal and undistributed income of the Overflow Trust were
included in my child's taxable estate for federal estate tax
purposes) then my child shall have a special power to appoint all
or any portion of the Overflow Trust by Will, validly executed
referring expressly to this Article, among my child's issue, as
described in this Will, or to my child's creditor's or to the
creditor's of my child's estate. My child shall have no power to
appoint to himself or to his estate. My Trustee may rely upon an
attested Will probated in any state, if executed in accordance
with Pennsylvania formality.
(4) In default of the exercise of such power of
appointment by my said child, or insofar as any part of the
Overflow Trust shall not be effectively appointed, then upon the
death of my said child, the entire remaining principal of the
Overflow Trust, or the part of such trust not effectively ap-
pointed shall be divided into equal separate shares so as to
provide one (1) share for each then living grandchild of mine and
Qne (1) share for each deceased grandchild of mine who shall
jl'Jj/
-6-
leave issue then living. My Trustee shall create separate trusts
for each beneficiary.
(5) During the lifetime of such beneficiary, and until
the earlier of such beneficiary's death, or the distribution date
hereinafter described, my Trustee shall distribute to such
beneficiary so much of the net income and principal of such
beneficiary's trust as my Trustee in its sole discretion shall
deem necessary or advisable from time to time for the medical
care, education, support and maintenance in reasonable comfort of
such beneficiary, taking into consideration to the extent my
Trustee deems advisable, any other income or resources of such
beneficiary known to my Trustee. Any income not distributed-
shall be added to principal and shall pass as hereafter de-
scribed.
(6) If at any time a federal generation skipping
transfer tax would be imposed on the trust of such beneficiary at
a rate equal to or higher than the marginal federal estate or
gift tax rate which would be imposed on such beneficiary (assum-
ing that the principal and undistributed income of such benefi-
ciary's trust were included for federal estate or gift tax
purposes) then such beneficiary shall have a special power to
appoint all or any portion of such beneficiary's trust by Will,
validly executed referring expressly to this Article, among such
beneficiary's issue, as described in this Will, or to such
beneficiary's creditors, or to the creditors of such
ffW
Zr I
-7-
beneficiary's estate. Such beneficiary shall have no power to
appoint to himself or herself, or to his or her estate. My
Trustee may rely upon an attested will probated in any state, if
executed in accordance with Pennsylvania formality.
(7) In default of the exercise of such power of
appointment by said beneficiary, or insofar as any part of said
beneficiary's trust shall not be effectively appointed, then upon
the death of such beneficiary, the entire remaining principal of
such beneficiary's trust, including any undistributed income,
shall be divided into equal separate shares so as to provide one
(1) share for each then living child of such beneficiary and one
(1) share for each deceased child of such beneficiary who shall
leave issue then living.
(8) The share provided for each then living child of
such deceased beneficiary and the share provided for each de-
ceased child of such beneficiary (which deceased child shall
leave issue living), shall be held in separate trusts for each
such beneficiary until the distribution date specified in Para-
graph 10, and shall be held, administered and distributed as
provided in Paragraphs 5, 6 and 7 above, by substitution of the
issue of such person in the place of his or her parent.
(9) If any beneficiary of any trust or share in this
Article shall die without leaving issue living, then my Trustee
shall divide and distribute the principal of such trust, includ-
ing any undistributed income, in e~~~ among my then
-8-
surviving issue, per stirpes. My Trustee may_distribute such
amount to such surviving issue outright, or in trust upon such
terms as my Trustee, in its sole and absolute discretion shall
determine, or may add such amount to the share or trust hereunder
of such issue.
(10) Upon the death of the last to die of my issue
living at my death (the distribution date) the Overflow Trust,
and the shares and trusts created thereunder, shall terminate and
the then principal, including any undistributed income, shall
vest and be paid and distributed to those beneficiaries (and in
the same proportions) as are then entitled to receive the income
therefrom, subject only to Article EIGHTH hereof.
(11) If at the time of my death, or at any later time
prior to final distribution hereunder, all my issue are deceased
and no other disposition of the property is directed by this
Article, then, and in that event only, the then-remaining
property of such trust or share, together with any undistributed
income, shall be paid over and distributed to Franklin and
Marshall College, Lancaster, Pennsylvania, or its successors in
interest, without restriction as to use.
EIGHTH:
If, upon the distribution date, any share hereunder
becomes distributable to a beneficiary who has not attained the
age of twenty-one (21) years of age, then such share shall
immediately vest in such beneficiary, but notwithstanding the
provisions herein, my Trustee shall retain possession of such
~W
-9-
share in trust for such beneficiary until such beneficiary
attains the age of twenty-one (21) years of age, using so much of
the net income and principal of such share as my Trustee deems
necessary to provide for the proper medical care, education,
support and maintenance in reasonable comfort of such benefi-
ciary, taking into consideration to the extent my Trustee deems
advisable any other income or resources of such beneficiary or
his or her parents known to my Trustee. Any income not so paid
or applied shall be accumulated and added to principal. Such
beneficiary's share shall be paid over and distributed to such
beneficiary upon attaining the age of twenty-one (21) years of
age, or if he or she shall sooner die, to his or her executors or
administrators. My Trustee shall have with respect to each share
so retained all the powers and discretions had with respect to
the trusts created herein generally.
NINTH: Anything in this Will to the contrary notwithstand-
ing, no trust created herein shall continue beyond twenty-one
(21) years after the deaths of ~, the last to die of my issue
living at the time of my death; and two, all issue, living at the
time of my death, of the individual serving as President of the
United States at my death and all issue, living at the time of my
death, of said individual's five (5) immediate predecessors In
said office; upon the expiration of such period, all trusts shall
terminate and all the assets thereof shall be distributed to
di 1(/
-10-
those beneficiaries (and in the same proportions) a~ are then
entitled to receive the income therefrom.
TENTH: (1) I name my friend, David E. Fritchey, as my
Executor. If he is unable or unwilling to serve, I name his
wife, C. Denise Fritchey, as my Executrix. I direct that my
Executor or my Executrix, herein referr~d to as my Executor
regardless of number or gender, serve without bond in any juris-
diction in which called upon to act.
(2) I name David E. Fritchey as my Trustee. If he is
unable or unwilling to serve, he shall name his successor, to be
selected in his sole and absolute discretion. If he does not
name a successor, I name his wife, C. Denise Fritchey, as my
Trustee. I direct that my Trustee, herein referred to as my
Trustee regardless of number or gender, serve without bond in any
jurisdiction in which called upon to act.
(3) Except as otherwise provided herein, if David E.
Fritchey or any successor as herein defined should fail to
qualify as Trustee hereunder, or for any reason should cease to
act in such capacity, the successor or substitute Trustee shall
be some bank or trust company qualified to do business in the
state of my domicile at the time of my death, which successor or
substitute Trustee shall be designated in a written instrument
filed with the court having jurisdiction over the probate of my
estate and signed by David E. Fritchey or if he fails to act,
~#
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signed by or on behalf of C. Denise Fritchey, or if she fails to
act, by the court having jurisdiction over the trust.
(4) My Trustee shall be entitled to reasonable com-
pensation for services rendered.
(5) The situs of all trusts created herein shall be
Cumberland County, Pennsylvania and all trusts created hereunder
shall be governed by the law of the Commonwealth of Pennsylvania.
ELEVENTH:
(I)
I give to any Executor and to any Trustee
named in this Will or any Codicil hereto or to any successor or
substitute Executor or Trustee all of the powers now applicable
by law to fiduciaries in the Commonwealth of Pennsylvania and in
particular, through the Pennsylvania Probate, Estates and Fidu-
ciaries COde, as effective and as in effect on the date hereof,
during the administration and until the completion of the dis-
tribution of my estate, and until the termination of all trusts
created in this Will or any Codicil hereto and until the com-
pletion of the distribution of the assets of such trusts.
(2) My Executor and my Trustee shall have absolute
discretion, but shall not be required, to make adjustments in the
rights of any beneficiaries, or among the principal and income
accounts to compensate for the consequences of any tax decision
or election, or of any investment or administrative decision,
that my Executor and my Trustee believe has had the effect,
directly or indirectly, of preferring one beneficiary or group of
beneficiaries over others. In determining the federal estate and
~
-12-
income tax liabilities of my estate, my Executor shall have
discretion to select the valuation date and to determine whether
any or all of the allowable admini~tration expenses in my estate
shall be used as federal estate tax deductions or as federal
income tax deductions and shall have the discretion to file a
joint income tax return with my spouse.
(3) If at any time any trust created hereunder (or any
share thereof if the trust shall have be~~ divided into shares)
shall be of such value that, in the opinion of my Trustee, the
administration expense of holding the assets contained therein in
trust is not justified, my Trustee, in its absolute discretion,
may terminate such trust and distribute the trust property to the
person or persons then entitled to receive or have the benefit of
the income therefroln or the legal representative of such person.
If there is more than one income beneficiary, my Trustee shall
make such distribution to such income beneficiaries in the
proportion in which they are beneficiaries or if no proportion is
designated in equal shares to such beneficiaries.
(4) If there be any property located outside the
Commonwealth of Pennsylvania, in which I may have an interest at
the time of my death, which cannot be conveniently administered
as provided herein, then I authorize, but do not require, my
Executor to appoint a bank or trust company with trust powers, to
administer such property according to the terms of this Will.
#~
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(5) My Executor and Trustee are authorized and em-
powered to retain, either permanently or for such period of time
as my Executor or Trustee may determine, any assets, including
the capital stock of any closely held corporation, which at any
time shall come into the possession of my Executor and Trustee as
a part of any Trust created herein, whether such assets are or
are not of the character approved or authorized by law for
investment by fiduciaries and whether such assets do or do not
represent an overconcentration in one investment.
(6) I direct my Executor to allocate my ~ST Exemption,
as defined in Article FIFTH hereof, to the Skip Trust to the
extent required to completely exempt the Skip Trust from the
federal generation skipping transfer tax (GST Tax) imposed by
Chapter 13 of the Internal Revenue Code of 1986, as amended, in
effect at the time of my death. My Executor shall allocate my
remaining GST Exemption, if aDY, to transfers made by me prior to
or at my death in a manner which, in the opinion of my Executor,
is most likely to minimize GST Tax ~n such transfers. If the
amount of my GST Exemption is not sufficient to completely exempt
both the Skip Trust and the Overflow Trust, then my Executor
shall allocate my GST Exemption first to the Skip Trust, with the
balance, if any, allocated to the Overflow Trust.
TWELFTH: No interest of any beneficiary under this Will,
any Codicil hereto, or any trust created herein shall be subject
to anticipation or to voluntary or involuntary alienation.
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-14-
THIRTEENTH:
(1) My Trustee may hold any property distributed
to it hereunder, whether by my Executor or otherwise, in one or
more separate trusts, either on identical teims or, to the extent
that the terms of the trust are severable into distinctly sepa-
rate shares, on terms reflecting such separate shares.
Further-
more, my Executor may, by an instrument in writing delivered to
my Trustee, direct my Trustee to hold a specified portion of a
trust created" hereunder as a separate trust. Any such direction
shall be effective as of the date of my death.
(2) My Trustee may, at any time and from time to time~
divide any trust hereunder into two or more separate trusts
(based on the fair market value of the trust assets at the time
of the division) and combine two or more trusts hereunder with
substantially identical terms (whether or not such trusts were
previously separated from one trust).
(3) If a trust is held as, or divided into, separate
trusts, my Executor or my Trustee, as the case may be, may, at
any time prior to a combination of such trusts, (a) make differ-
ent tax elections (including the allocation of the GST Exemption)
with respect to each separate trust, (b) expend principal and
exercise any other discretionary powers with respect to such
separate trusts differently, (c) invest such separate trusts
differently, and (d) take all other actions consistent with such
trusts being separate entities. Further, the donee of any
special power of appointment, if applicable, with respect to a
~~
-15-
trust so divided may exercise such power differently with respect
to the separate trusts created by the division.
(4) I anticipate that my Executor or my Trustee, as
the case may be, may hold property as one or more separate trusts
or divide trusts hereunder for both tax and administrative
reasons. For example if my Executor decides to allocate some or
all of my GST Exemption to any trust created under the Overflow
Trust, my Trustee may determine it to be desirable to create
separate trusts in order that no trust hereunder has an inclusion
ratio (as defined in Section 2642 (a) (1) of the Internal Revenue
Code of 1986, as amended) other than zero or one.
(5) I exonerate my Executor and my Trustee from any
liability arising from any exercise or failure to exercise these
powers, provided the actions (or inactions) of my Executor or my
Trustee are taken in good faith.
FOURTEENTH:
No interest of any beneficiary under this
Will, any Codicil hereto, or any trust created herein shall be
subject to anticipation or to voluntary or involuntary
alienation.
FIFTEENTH: All estate, inheritance, succession and other
death taxes imposed or payable by reason of my death and interest
and penalties thereon with respect to all property comprising my
,
gross estate for death tax purposes, whether or not such property
passes under this Will, (excepting, however, federal generation
skipping transfer tax imposed by Chapter 13 of the Internal
.J! 1;j/
,
-16-
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Revenue Code) shall be paid out of the residue of my estate, as
if such taxes were expenses of administration, without apportion-
ment or right of reimbursement.
I authorize my Executor and
Trustee to pay all such taxes at such time or times as deemed
advisable.
SIXTEENTH: If any devisee, legatee or beneficiary or any
trust created herein contests the probate or validity of this
Will, or any provision thereof, or institutes or joins in (except
as a party defendant) any proceeding to contest the validity of
this Will, or to prevent any provision thereof from being carried
out in accordance with its terms (regardless of whether or not
such proceedings are instituted in good faith and with probable
cause), then all benefits provided for such devisee, legatee or
beneficiary are revoked, and I give, devise and bequeath such
benefits as if such contestant had predeceased me. If all of the
beneficiaries of any trust created herein join in such contest or
proceedings, then I give, devise and bequeath all interests so
forfeited to Franklin and Marshall College, Lancaster, Pennsyl-
vania, or its successors in interest, without restriction as to
use.
j~#
-17-
IN WITNESS WHEREOF, I have set my hand and seal on this my
Last Will and Testament this S+J" day of 11 Cl"-..:.- '-\
, 1988.
. I
SIGNED, SEALED, PUBLISHED, and ,/ // ~.""
DECLARED by I;IERMAN H. . WAGNER, SR. ffi/ .I j/' - .' ~
as and for h~s Last W~ll and . 1.>r)..,(.'1-'V~_. I 1/.(~1(~/_h(~
Testament, on. the da~ and yearJ i I /
last above wr~ tten, ~n the /' ,j _~) <
presence c;>f u~, who, at his /1) . , ,~'0:
request, ~n h~s presence, and ,_ t,(, L iLl lV\={lIJ_L-lH ,{.I /"-..
in the presence of each other, / ~ I
all being present at the same
time, have hereunto subscribed
our names as witnesses:
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SELF-PROVING AFFIDAVIT
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
SS.
WE, HERMAN H. WAGNER, SR., and ,:11)1--1,,;,)') ,.J, ML..=,,{--i,~:s ,
7>l'h,-..... I- Rt"~;rl-;.:..t~ , and Ten, f'1....sCq{4S , the
Testator and the witnesses, respectively, whose names are signed
to the attached or foregoing instrument, being first duly sworn,
do hereby declare to the undersigned authority that the Testator
signed and executed the instrument as his Last Will and that he
had signed willingly (or willingly directed another to sign for
him), and that he executed it as his free and voluntary act for
the purposes therein expressed, and that each of the witnesses,
in the presence and hearing of the Testator, signed the Will as
witness and to the best of his or her knowledge the Testator was
at that time eighteen (18) years of age or older, of sound mind,
and under no constraint or undue influence.
/
, L/
E N H. WAGN
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ZJ~l,-It;,r' ~7}/(l..~c ~~~--1--'
'Witness lJ. "
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Witness . J
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Subscribed, sworn to, and acknowledged before me by HERMAN H.
WAGNER, SR., the Testator, and subscribed and sworn to before me
by I1n +-1, t:n 'I ....J. fv( '-\:S<:/t / (). s , Di! hIe.. L, Ke..; ur. c:. h , and
'::J I
Ton; /"( \A..S(cd 1..-\ S wi tnesses, this S'rt, day
of MC\.'f.:.h , 1988.
Y){a-,.! /J 6/,7_____~
Notary Public
My Commission Expires: 0,,- t.h?.... :11/ Iq~./
IN THE MATTER OF THE
TRUST UNDER WILL OF
HERMAN H. WAGNER, SR.,
DECEASED
IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY, PENNSYL VANIA
ORPHANS' COURT DIVISION
NO. 21-88-219
CERTIFICATE OF NOTICE
I, Todd F. Truntz, Esquire, Attorney for the Trustee, David E. Fritchey, hereby certify that
I have given notice as required by Pa. O.c. Rule 6.33 and C.C.O.C.R. 6.3-1, together with a copy
of the Third and Intermediate Account of David E. Fritchey, Trustee ofthe Trust Under Will of
Herman H. Wagner, Sr., deceased, upon the parties interested in this proceeding by depositing a
true and correct copy ofthe same via certified United States mail, first-class postage prepaid,
return receipt requested, and addressed as follows:
Wendy Wagner
1319 NE 14th Avenue
Fort Lauderdale, FL 33304
Russell Wagner
11599 W. Clearwater Court
Homosassa, FL 34448
Summer Wagner Lyman
214 Wildwood Circle
Key Largo, FL 33037-4220
Terry Wagner
P.O. Box 261163
Tampa, FL 33685
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Dawn Wagner
413 Westminster Blvd.
Oldsmar, FL 34677
Edward Abel Torres
c/o Dawn Wagner
413 Westminster Blvd.
Oldsmar, FL 34677
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Remington Meck Gagnard- Wagner
c/o Wendy Wagner
1319 NE 14th Avenue
Fort Lauderdale, FL 33304
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A copy of the notice is attached to this certificate.
Date: May 12,2008
By:
KEEFER WOOD ALLEN & RAHAL, LLP
TO~l,~~ --~
Identification No. 83302
635 N. 12th Street, Suite 400
Lemoyne, P A 17043
Attorney for Trustee( s)
~~
IN THE MATTER OF THE
TRUST UNDER WILL OF
HERMAN H. WAGNER, SR.,
DECEASED
IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY, PENNSYLVANIA
ORPHANS' COURT DIVISION
NO. 21-88-219
NOTICE OF AUDIT
To the following beneficiaries of the Trust Under Will of Herman H. Wagner, Sr., deceased:
Wendy Wagner
1319 NE 14th Avenue
Fort Lauderdale, FL 33304
Summer Wagner Lyman
214 Wildwood Circle
Key Largo, FL 33037-4220
Dawn Wagner
413 Westminster Blvd.
Oldsmar, FL 34677
Russell Wagner
11599 W. Clearwater Court
Homosassa, FL 34448
Terry Wagner
P.O. Box 261163
Tampa, FL 33685
Edward Abel Torres
c/o Dawn Wagner
413 Westminster Blvd.
Oldsmar, FL 34677
Remington Meck Gagnard-Wagner
c/o Wendy Wagner
1319 NE 14th Avenue
Fort Lauderdale, FL 33304
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NOTICE is hereby given that the Third and Intermediate Account of David E. Fritchey,
Trustee, of the Trust Under Will of Herman H. Wagner, Sr., deceased, will be filed in the Office of
the Clerk of the Orphans' Court Division of the Court of Common Pleas of Cumberland County,
Pennsylvania, on or before May 16, 2008, and that the Clerk will present the same to the Court for
confirmation, audit and distribution on June 17,2008. Any person who objects to the transactions
shown in the Account must file written objections with the Clerk on or before 9 a.m. on June 17,
2008, or the COUl1 may otherwise assume that no objections exist or that any objections have been
waived.
A copy of the Third and Intermediate Account of the Trustee (including all attachments and
exhibits), is enclosed herewith.
If you have questions concerning the enclosed documents, please contact the undersigned.
Date: May 12, 2008
KEEFER WOOD ALLEN & RAHAL, LLP
~----~~~
Todd F. Truntz, Esquire
Identification No. 83302
635 N. 12th Street, Suite 400
Lemoyne, P A 17043
Attorney for Trustee(s)
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CHARLES W. RUBENDALL II
ROBERT L. WELDON
EUGENE E. PEPINSKY, ..JR.
..JOHN H. ENOS m
GARY E. FRENCH
DONNA S. WELDON
BRADFORD DORRANCE
..JEFFREY S. STOKES
ROBERT R. CHURCH
STEPHEN L. GROSE
R. SCOTT SHEARER
ELYSE E. ROGERS
CRAIG A. LONG YEAR
..JOHN A. FEICHTEL
STEPHANIE KLEINFELTER
DONALD M. LEWIS III
ERIC R. AUGUSTINE
TODD F. TRUNTZ
CAROL L. VERISH
KEEFER WOOD ALLEN & RAHAL, LLP
ATTORNEYS AT LAW
635 NORTH 12TH STREET, SUITE 400
LEMOYNE. PA 17043
ESTABLISHED IN 1878
OF COUNSEL:
HEATH L. ALLEN
N. DAVID RAHAL
SAMUEL C. HARRY
PHONE 717-612-5800
FAX 717-612-5805
EIN No. 23-0716135
www.keeferwood.com
HARRISBURG OFFICE:
210 WALNUT STREET
HARRISBURG, F'A 17101
PHONE 717-255-8000
May 13, 2008
717-612-5807
ttruntz@keeferwood.com
VIA HAND DELIVERY
Clerk of the Orphans' Court
Court of Common Pleas of Cumberland County
One Courthouse Square
Carlisle, PA 17013
RE: Third and Intermediary Account of the Trust
Under the Will of Herman H. Wagner, Sr.
Dear Sir/Madam:
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Enclosed for filing for the above-referenced trust are the following:
1. Third and Intermediary Account of the Trust Under the Will of
Herman H. Wagner, Sr.;
2. Petition for Adjudication/Statement of Proposed Distribution Pursuant
to Pa. O.C. 6.9;
3. Certificate of Notice to Beneficiaries;
4. A copy of the Last Will and Testament of Herman H. Wagner, Sr.; and,
5. Check in the amount of $380.00 to cover the filing fee.
The Account and Petition are submitted in duplicate pursuant to Local
Orphans' Court Rule No. 6.1-1(g). Kindly time-stamp the remaining two (2) copies
and return them with our messenger.
Clerk of the Orphans' Court
May 13, 2008
Page 2
Please advise if anything further is required. Thank you very much for your
assistance.
Sincerely yours,
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-- ~-----==-- ~--
Todd F. Truntz
waw
Enclosures
cc: David E. Fritchey, Esquire
Robert R. Church, Esquire