HomeMy WebLinkAbout04-04-08 (2)
F AMIL Y SETTLEMENT AND RELEASE
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IN
ESTATE OF MARY JANE HIPPENSTEEL
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(File No. 2008-0070)
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KNOW ALL MEN BY THESE PRESENTS, that WHEREAS, Mary Jane Hippensteel late of
2059 Rellim Street, Carlisle, Cumberland County, Pennsylvania, deceased, died testate on November 4,
2007, having first made her Last will and Testament, which was duly executed on October 4, 1994, and is
duly recorded at the Register of Wills in Cumberland County, Pennsylvania.
WHEREAS, the said Mary Jane Hippensteel, by the aforesaid Last Will and Testament, named
Robert L. Hippensteel, Sr. as Executor of said Last Will and Testament;
WHEREAS, letters testamentary on the estate of the said decedent were duly issued by the
Register of Wills of Cumberland County, Pennsylvania, to the said Executor hereinafter called personal
representatives;
WHEREAS, the said personal representative has gathered the assets of the estate of the said
decedent and the assets consist of real and personal property; to a total value of$113,325.78, as set forth
in the attached schedule and Inheritance Tax Return, which is attached hereto and made a part hereof, and
marked Exhibits "A" and "B" respectively.
WHEREAS, the debts and deductions, including the payment of inheritance tax in the said estate,
amount to $19,456.56, leaving a balance for distribution of $93,869.22
WHEREAS, the balance for distribution as shown in the said Inheritance Tax Return marked as
Exhibit "A" has been distributed as herein indicated in accordance with the terms of the Last Will and
Testament of the said decedent;
NOW, THEREFORE, KNOW YE, that I, Robert L. Hippensteel, Sr., Frank B. Hippensteel, Jr.,
Brian K. Hippensteel, and Jody L. Hippensteel-Rhoads, the heirs under the Last Will and Testament of
the said decedent, and being those persons entitled to inherit under said Last Will and Testament, do
hereby acknowledge that they have this day had and received from the aforesaid personal representative,
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in full satisfaction and payment of all sum or sums of money, legacies, bequests, and devises as are given,
devised and bequeathed to me by the said Last Will and Testament, the amount due me under said Last
Will and Testament, which amount I have received this day;
TO WIT; Robert L. Hippensteel is taking his share as \t4 ofthe net estate in cash, lody L.
Hippensteel-Rhoads is taking her \t4 of the net estate as property in kind, being her late Mother's
residence, some of the remainder of which she is purchasing from the estate to fund Robert's share and
she is receiving thei respective shares of the two other heirs, subject to the following: Frank B.
Hippensteel is accepting his \t4 share in kind in the real estate, but giving the title in the same to his sister,
in exchange for his right to live there so long as his sister does; Brian K. Hippensteel is accepting his \t4
share in kind in real estate, but giving the title therein to his sister, with the agreement that if she or her
heirs or assigns ever sell the property, he is entitled to a onetime payment of $27,500.00. It is the intent
of the parties that this to wit clause be enforceable at any point in the future, either at this docket or in an
action in equity filed to the civil docket in Cumberland County. The parties further stipulate they have
had independent legal advice on their respective rights in the estate, and have either consulted a lawyer, or
waived this right.
AND, I do hereby stipulate that in order to avoid the expense and time involved in the filing of a
formal account and schedule of distribution, I agree that no account is necessary and I do hereby agree
that I do consent to distribution being made without the filing of an account and schedule of distribution,
the same to be with the same force and effect as if they had been filed and confirmed by the Orphan's
Court Division ofthe Court of Common Pleas, Cumberland County.
THEREFORE, I do hereby remise, release, quitclaim and forever discharge the said personal
representative, Robert L. Hippensteel his heirs, executors, and administrators and assigns, or and from the
said estate and from all actions, suits, payments, accounts, reckonings, claims, and demands whatsoever
for or by reason thereof, or for any other use, matter, cause or thing whatsoever, touching upon the state
of the said decedent, and I do further hereby covenant and agree that should any liability come due to the
estate ofthe said decedent after the signing of this agreement, I do hereby covenant and agree that I will
contribute my share of the estate to satisfY any and all claims, demands, suits, or causes of action which
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may be successfully prosecuted against the said estate or the aforesaid personal representative after the
signing, sealing and delivery of this family settlement and final release.
IN WITNESS WHEREOF, I have hereunto set my hand and seal thi6/d- day of ~
COMMONWEAL TH OF PENNSYLVANIA
: SS.
COUNTY OF CUMBERLAND
On this, the avf day of ItJjif-cfL_, 2008, before me, a notary public, the
undersigned officer, personally appeared Robert 1. Hippensteel, Sr., Frank B. Hippensteel, Jr.,
Brain K. Hippensteel and lody 1. Hippensteel-Parson (known to me or satisfactorily proven) to
be the person whose name is subscribed to the within instrument, and acknowledged that they
executed the same for the purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Tammie L Peters, Notary Public
CadIsIe~, Cl.rnberfand County
My CommISSIOn E>qJires Sept 9, 2011
Member, Pennsylvania Association of Notaries