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HomeMy WebLinkAbout04-22-08IN RE: TRUST UNDER WILL OF DONNA JEAN KEPHART A/K/A DONNA J. KEPHART-HOOVER FOR BENEFIT OF DANA M. GILSDORF AND A SEPARATE TRUST UNDER IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA :ORPHANS' COURT DIVISION NO. ~` ~-c~~~'Uf~`~ WILL OF DONNA JEAN KEPHART c~^^ /-_- `_.l A/K/A DONNA J. KEPHART-HOOVER FOR BENEFIT OF ~`~ c~ _ r„_ BRANDON M. GILSDORF, A MINOR ' '~ ~, . -; -~-, PETITION FOR APPOINTMENT OF SUCCESSOR TRUSTEE _'= To the Honorable Judges of Said Court: 1. Petitioner is Kimberly A. Caudill, 15451 Sweetwater Court, Fort Myers, Florida C.'] -IJ ~7 ~ .' ~. -, :,~ __~ -, ` -' ;:~ -~~~ t~ , ~ 33912. Petitioner files this petition in her individual capacity as Executrix under the will of Donna Jean Kephart a/k/a Donna J. Kephart-Hoover. 2. Donna Jean Kephart a1k/a Donna J. Kephart-Hoover died on December 29, 2006, leaving her last will and testament duly probated in the office of the Register of Wills of Cumberland County, Pennsylvania, to file no. 2007-00129. By said probated will, the late Donna Jean Kephart a/k/a Donna J. Kephart-Hoover directed as follows: TRUST If any of my grandchildren who inherit property under the terms of this Will are under the age of twenty-three (23) years, I appoint my son-in-law, GLENN CAUDILL, as Trustee of the property that I have given to my grandchildren. A. The assets that are transferred to the Trust shall be divided into shares commensurate with the size of the estate to which each grandchild is entitled until such grandchild attains the age of twenty-three (23). B. The Trust estate shall be administered until each grandchild reaches the age of twenty- three (23) years. Until that time, the Trustee shall apply all net income and principal of the Trust estate as follows: 1) So long as my grandchild is under the age of twenty-three (23) years of age, the net income of the Trust shall be paid to, or applied for the benefit of my grandchild at such times and in such amounts as the Trustee shall in his discretion deem necessary for his support, welfare, maintenance and education Education shall be defined broadly to include not only that available in college, but also trade school and other similar training. In the event that the income shall be insuffiicient to provide my child with adequate maintenance, support, welfare or education, the Trustee may invade the principal of this Trust for this purpose. 2) The Trustee in exercising his discretionary authority with respect to the payment of income or principal of the Trust Estate to my beneficiary, shall take into consideration any income or other resources available to my grandchild from sources outside of this Trust that may be known to the Trustee. The detemunation of the Trustee with respect to the necessity of making payments out of income or principal to my beneficiary shall be conclusive on all persons howsoever interested in the Trust. 3) The Trustee shall accumulate and add to principal any net income of the Trust not paid out in accordance with the discretion hereinabove conferred on the Trustee. 4) In the event my grandchild predeceases me or dies prior to the termination of this Trust, the interest of my grandchild in the Trust shall cease, except that, if he is survived by any children, then the Trustee shall pay net income of the Trust to or apply the same for the benefits of such children of my deceased grandchild, in such amount or amounts as the Trustee in his sole discretion may determine for support, welfare and maintenance. C. When my child reaches the age of twenty-three (23) years, a calculation of the property remaining in the Trust shall be made and the total thereof shall be distributed to him or her. D. My grandchild, as beneficiary of this Trust, shall not have any right to alienate, encumber, or hypothecate his interest in the principal or income of the Trust in any manner, nor shall any interest be subject to claims of his creditors or liable to attachment, execution or other process of law. E. In order to carry out the purposes of this Trust established by this Will, the Trustee, in addition to all other powers granted by this Will, or by law, shall havethe following powers over the Trust estate, subject to any limitation specified elsewhere in this Will: 1) To retain any property received by the Trust estate for as long as the Trustee considers it advisable. 2) To spend funds for the maintenance and repair of real property. 3) To sell at public or private sale, exchange or lease for a period of time, any real or personal property and give options for sale of the lease. 4) To execute and deliver any deeds, leases, assignments or other instruments as may be necessary to carry out the provisions of this Tnist. 5) To borrow money and to mortgage or pledge any real or personal property. 6) The Trustee shall maintain accurate records and accounts and shall render statements to my beneficiary hereunder showing receipts and disbursements of principal and income no less frequently than annually. The Trustee shall serve without bond and shall receive fair and reasonable compensation for administration of this Trust, not to exceed five (5%) percent of annual income. 7) To distribute property in kind. 8) To do all other acts that are in his judgment necessary or desirable for the proper management, investment and distribution of the Tnzst estate. A true and correct copy of said Last Will and Testament is attached hereto and incorporated herein by reference as Exhibit "A". 3. Pursuant to said terms of the Last Will and Testament of Donna Jean Kephart a/k/a Donna J. Kephart-Hoover, a First and Final Account in the estate was filed and on March 4, 2008, the First and Final Account was confirmed absolutely and distribution decreed in accordance with the proposed schedule of distribution by court order. 4. Pursuant to the terms of the Last Will and Testament and the First and Final Account as confirmed by the court, two separate trusts were to be created. One trust was for the benefit of Dana M. Gilsdorf, age 19, and the other trust was created for the benefit of Brandon M. Gilsdorf, age 15. Each trust was to remain in effect until the beneficiary obtained the age of 23. 5. The Trustee nominated by the Testatrix, namely Glenn Caudill, has determined that he does not want to accept the appointment as Trustee. This determination will be documented by the Renunciation of Glenn Caudill to his appointment as Trustee which has been requested and will be submitted to the Court as an Exhibit. 6. The names of all persons having any interest, vested or contingent, in the trust estate are as follows: Dana M. Gilsdorf 3780 Towne Crossing, Apartment 303 Kennesaw, GA 30144 Brandon M. Gilsdorf 2130 Bayford Court Marietta, GA 30064 Robyn Lea Smith 2130 Bayford Court Marietta, GA 30064 7. Attached hereto and incorporated herein by reference as Exhibit "B" is a copy of Petitioner's First and Final Account which has been confirmed by the Court as of March 4, 2008. 8. PNC Bank has agreed to serve as trustee, but at a minimum fee of $2,000.00 a year for each of the two (2) testamentary trusts. 9. The Probate Estates and Fiduciaries Code empowers the Orphans' Court to appoint a successor trustee. 10. Petitioner requests that a guardian ad litem be appointed for Brandon M. Gilsdorf, the minor beneficiary, concerning the within petition and that the costs for the services of the guardian ad litem be authorized to be paid from the trust to the extent that funds are available, first from income, and otherwise from principal. WHEREFORE, Petitioner respectfully requests that this Honorable Court: To appoint PNC Bank as successor trustee of said trusts, with annual compensation to be set pursuant to its current fee schedule, having a minimum annual fee of $2,000.00, said fee to be paid in monthly installments allocated 66% to principal and 34% to income. 2. To authorize said successor trustee to name co-trustees or successor trustees without further approval of the Orphans' Court. 3. Appoint a guardian ad litem to represent Brandon M. Gilsdorf, a minor, in this matter, and to direct that fees for the guardian ad litem be paid from the Brandon M. Gilsdorf Trust. Respectfully submitted, ~~~2~j` R. Mark Thomas, Esquire Attorney No. 41301 101 South Market Street Mechanicsburg, PA 17055 Attorney for Petitioner CERTIFICATE OF SERVICE I, R. Mark Thomas, Esquire, hereby certify that I have served a true and correct copy of the within document on the following persons by depositing a true and correct copy of the same in the U.S. Mail at Mechanicsburg, Pennsylvania, First Class Postage pre-paid, addressed to: Kimberly A. Caudill 15451 Sweetwater Court Fort Myers, FL 33912 Dana M. Gilsdorf 3780 Towne Crossing Apartment #303 Kennesaw, GA 30144 Brandon M. Gilsdorf 2130 Bayford Court Marietta, GA 30064 Robyn Lea Smith 2130 Bayford Court Marietta, GA 30064 Date: April ~~ , 2008 ~ R. Mark Thomas, Esq. ~~:p.,~U\~~l LAS"1' WILL ANU'I'CSTAMLN'1' BL I'h REMEMBERED TI-lAT 1, DONNA .l. I-IUOVER KEPI-IART', a resident of Cumberland County, Pennsylvania, being of sound and disposing mind, memory and understanding, do make, publish and declare this to be my LAS"T WILL and TESTAMENT, hereby revolting any and all Wills aid Codicils previously made by me. I declare that I am married to FRCD A. KEPHAR`I', SR. Reference is hereby made to the Prenuptial Agreement dated April 26, 1999. I also declare that I have two daughters, ROBYN LEA SMITH and KIMBERLY ANN CAUDILL. Reference is made to my daughter ROBYN LLA SMI7~1-1 to show that it is my intent to leave her out of this Will. II I direct that all my just debts and funeral expenses shall be paid from my residuary estate as soon as practicable alter my decease. I direct that all taxes that may be assessed in consequence of my death, of whatever nature and by whatever jurisdiction imposed, shall be paid ii~om my residuary estate as a part of the expense of the administration of my estate. _. (-l ~.~ I V - ; -- _~ `°J I hereby make the following speci [ic bequests: ~ ~ ' ~.~y A. To my sister, BOBBIE L. SCI-IWINABART, I give the sum of twenty l~~ousand i ~ -~ ($20,000.00) dollars; and ~, B. "fo my step-daughter, BRENDA S. STINSON, I give the sum of twenty thousand ($20,000.00) dollars. Should BOBBIE L. SCI-IWINABARrI' or BRENDA S. S'1'INSON predecease or fail to survive me by thirty (30) days then their share shall lapse and be added to my residuary estate. V 1 hereby direct my Executor to divide the remainder of my estate info two (2) equal shares to be distributed as follows: A. One (1) share to my daughter, KIMBERLY A. CAUDILL, per stirpes; and ~; ~ ~ i ~ ,r :~.~ ~ , B. One (1) share to be divided equally between my grandchildren, DANA M. GILSDORF and BRANDON M. GILSDORI~, pursuant to the lernls of the hereinafter included Trust. VI TRUST ]f I have any grandchildren who inherit property under the teens of this Will who are under the age of twenty-three (23) years, I appoint my son-in-law, GLCNN CAUDILL as Trustee of the property that I have given to my grandchildren. A. The assets that are transferred to the Trust shall be divided into shares commensurate with the size of the estate to which each grandchild is entitled ulllil such grandchild attains the age of twenty-three (23) years. B. The Trust estate shall be administered until each grandchild reaches the age of twenty- tlu•ee (23) years. Until that tinge, the Trustee shall apply all net iuconle and principal of the "trust estate as lollows: 1) So long as my grandchild is under the age.of twenty-three (23) years of age, the net income of the Trust shall be paid to, or applied for the benefit of my grandchild at such tunes and in such amounts as the Trustee shall in his discretion deem necessary for his sLlppol-l, welfare, maintenance and education. l3cfucation shall be defined broadly to include not only that available in college, but also trade school and other similar training. hl the event that the income shall be insufiicienl to provide Iny child with adequate maintenance, support, welfare or education, the Trustee may invade the principal of this "I~rust for this purpose. 2) The Trustee in exercising his discretionary authority with respect to the payment of income or principal of the Trust Lstate to my beneficiary, shall take into consideration any income or other resources available to my child from sources outside of this Trust that may be known to the Trustee. T71e determination of the Trustee with respect to the. necessity of making payments out of income or principal to my beneficiary shall be conclusive on all persons howsoever interested in the Trust. 3) the "Trustee shall accuinLilate and add to principal any net income of the '}'rust not paid out in accordance with the .discretion hereinabove conferred on the 'trustee. 4) In the event my grandchild predeceases me or dies prior to the termination of this Trust, the interest of my grandchild in the Trust shall cease, except that, if he is survived by any children, then the "Trustee shall pay net income of the Trust to or apply the same for the benefits of~ such children of my deceased grandchild, 111 such an10L1111 Or alnOUntS aS the tl'L1Stee 111 111S SOIe dlSCretl011 Inay determine for support, welfare and maintenance. 2 C. When my grandchild reaches the age of twenty-three (23) years, a calculation of the property remaining in the Trust shall be made and the total thereof shall be distributed to him or her. D. My grandchild, as beneliciary of this Trust, shall not have any right to alienate, encumber, or hypothecate his interest in the principal or income of the Tnist in any manner, nor shall any interest be subject to claims of his creditors or liable to attachment, execution or other process of law. E. In order to carry out the purposes of this Trust established by this Will, the `Trustee, in addition to all other powers granted by this Will, or by law, shall have the following powers over the Tn~st estate, subject to any limitation specil7ed elsewhere in this Will: 1) To retain any property received by the Trust estate for as long as the `trustee considers it advisable. 2) T'o spend funds for the maintenance and repair of real property. 3) To sell at public or private sale, exchange or lease for a period of time, any real or personal property and give options for sale of the lease. 4) To execute and deliver any deeds, leases, assignments or other instruments as may be necessary to carry out the provisions of this Trust. 5) To borrow money and to mortgage or pledge any real or personal property. 6) The Trustee shall maintain accurate records and accounts and shall render statements to my beneFciary Hereunder showing receipts and disbursements of principal and • income no less fi•equenUy than aiuiually. The Trustee shall sewe without bond and shall receive fair and reasonable compensation for administration of this `trust, not to exceed five (5%) percent of annual income. 7) To distribute properly in kind. 8) To do all other acts that are in his judgment necessary or desirable for the proper management, investment and distribution of the Trust estate. VI1 I nominate, constitute and appoint my husband, IjRED A. KEPHART, SR. and my daughter, KIMI3EIZLY A. CAUll1LL as Co-Executors oC this LAST WILL, to serve without bond. If either is unable to serve in this capacity, then the other may act alone, to sewe without bond. 3 IN WITNCSS WI-IC~RLCOI~, I, ,DONNA J. I-IOOVCR KCPI-IART, have sel my hand to this LAST WILL this /,~ " clay of J ~ , 2003. DONNA .I. I-I VCR KCPHART Signed, sealed, published and declared by the above-named llONNA J. I-IOOVER KCPI-IART, as and for her Last Will and Testament, in the presence of us, who, at her request and in her presence, and in the presence of each other, have hereunto subscribed our names as witnesses. ~~~~ f~,f f 4 ACKNOWLCDGI:MCNT COMMONWEALTH OF PENNSYLVANIA ss. COUNTY OF CUMBERLAND I, DONNA J. HOOVER KEPIIARI', "Testatrix, whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby aclaiowledge that I signed and executed the instrument as my LAST WILL; that I signed it as my free and voluntary act for the purposes therein expressed. !i ~ (1-~ DONNA . 1 OVER KEPIIART Sworn or aflrmed to and acknowledged before me by DONNA J. EIOOVER KEPHART, Testatrix, this /~ day of ~~ , 2003. ~ ~~ . ~ ~; ~ -, C: „' . ,- ,` ~~. Notar Public _ ,._..~,....T...-,-.~.,..---.-- AFI~ IDAVIT ~ Notarial Seal public Notary COMMONWEAL"TII O1~ PENNSYLVANIA ss. COUNTY OF CUMBERLAND Anne Carmody, Mechanlcsbury goro, Cumberland County My Comndsslon Expires Expires Mar. 11, 2006 We, ~ . ~~:c-IL~'~Uv-~-s and ~ ~ tti`"-^~~r- ~.e~ ~ '~~~:-~ , the witnesses whose names are signed to the attached or foregoing instrument being duly qualified according to law, do depose and say that we were present acid saw Testatrix sign and execute the instrument as her LAST WILL; that DONNA J. I-IOOVER KEPHART signed willingly and that she executed it as her free and voluntary act for the purposes therein expressed; that each of us in the hearing and sight of the "Testatrix signed the Will as witnesses; and that to the best of our knowledge; the Testatrix was at the time 18 years of age or more, of sound mind and under no constraint or undue influence. Sworn or affirmed to and ~knowledged before me this /~ clay of U/~~., , 2003, ,' . . ,; ~i I. t .. 4 (~L~~ N lacy Public Fi 5 ,. b.I j.~ ~ ` ~. t ~` Notarial Seal Anne Carmody, Notary Public Mechanlceburg Boro, Cumberland County My Commission Explrea Expires Mar.11, 2006 FIRST AND FINAL ACCOUNT OF IN THE COURT OF COMMON PLEAS KIMBERLY A. CAUDILL, EXECUTOR :CUMBERLAND COUNTY, PENNSYLVANIA OF THE LAST WILL AND TESTAMENT OF DONNA JEAN KEPHART :ORPHANS' COURT DIVISION A/K/A DONNA J. KEPHART-HOOVER -- ESTATE NO. 2007-00129 - .J -~ CUMBERLAND COUNTY, PA ~~ Date of Death: December 29, 2006 , . Employee's Identification No.: 13-7557890 _ DR - ~~ -~' r-- The Accountant Charges herself as follows: `~~ PRINCIPAL ACCOUNT REAL ESTATE 2B & 2C West Springville Road $195,000.00 Boiling Springs pro-rated taxes 278.11 108 Juniper Drive, Mechanicsburg $185,000.00 pro-rated taxes 669.40 TOTAL $380,947.51 PERSONAL ESTATE 12/29/2006 Jewelry $10,000.00 12/29/2006 Sovereign Bank Account $1 5,684.49 Account No. 1681716054 12,29/2006 Sovereign Bank Account $ 860.12 Account No. 1684006131 12/29/2006 Sovereign Bank Account $ 120.02 Account No. 1684010067 12/29/2006 Citizens Bank $ 7,354.14 12/29/2006 Household Furnishings $ 3,115.00 12/29/2006 1995 Cadillac DeVille Sedan $ 3,390.00 12/29/2006 Rolling Green Cemetery Plots $ 500.00 12/29/2006 Cash $ 49.72 12/29/2006 Southern Co. $ 4,081.04 110.50763 shares @ $36.93/share 12/29/2006 Vectren Corp. $ 3,970.13 139.99035 shares @ $28.36/share ~i .... .,, ~x. , _, 12/29/2006 Washington Mutual $ 10,040.31 288.018 shazes @ $34.86/share 12/29/2006 Growth Fund of America $ 13,063.92 397.442 shares @ $32.87/share 12/29/2006 Amer. Tax Exempt Fund of MD $ 10,529.98 65.257 shares @ $16.07/share 12/29/2006 Bank of America $ 4,347.83 81.24514 shazes @ $53.52/shaze 12/29/2006 Chevron Texaco $ 5,131.52 69.53283 shares @ $73.80/share 12/29/2006 Cap. Income Fund $ 27,923.11 456.932 shazes @ $61.11/shaze 01/03/2007 Final Pension Payment - NEBF $ 77.94 05/22/2007 IBEW $ 336.00 TOTAL INCOME ACCOUNT 02/13/2007 Rent 2B & 2C Springville $ 3,000.00 02/13/2007 Rent 2C Springville $ 600.00 03/22/2007 Rent 2C Springville $ 600.00 03/26/2007 Southern Co. $ 9.31 111 shares @ $36.85/share 03/26/2007 Vectren Corp. $ (3.09) 141 shares @ $28.135/share 03/26/2007 Washington Mutual $ 210.27 289.401 shares @ $35.42/share 03/26/2007 Growth Fund of America $ 294.05 3 97.442 shares @ $ 3 3.61 /share 03/26/2007 Amer. Tax Exempt Fund of MD $ 73.39 660.235 shares @ $16.06/share 03/26/2007 Bank of America $ (196.58) 81 shazes @ $51.25/share 03/26/2007 Chevron Texaco Corp. $ 56.88 70 shares @ $74.12/shaze 03/26/2007 Cap. Income Fund $ 699.38 460.613 shares @ $62.14/share 04/30/2007 Rent 2B & 2C Springville $ 1,175.00 05/11/2007 Rent 2C Springville $ 575.00 08/01/2007 Sale of Cadillac to Fred $ (2,890.00) 11/05/2007 Sale of Juniper Drive contents $ 1,309.47 $120,575.27 11!30!2047 Insurance Claim (flood damage) $ 747.85 01/31/2008 Inheritance Tax Refund $ 42.11 TOTAL $6,303.04 TOTAL DEBITS $507,825.82 CREDITS The Accountant claims the following credits: DEBTS 04/02/2007 Bunton Retail Services $ 148.64 04/02/2007 Bellefonte Emergency Medical $ 32.06 04/03/2007 Sears Credit Cards $ 58.33 04/17/2007 Boscov's $ 131.92 04/17/2007 GEMB - JC Penney $ 38.03 10/05/2007 2006 Federal Income Tax $ 1,782.10 10/05/2007 2006 PA Income Tax $ 2,729.00 TOTAL $4,920.08 ADMINISTRATION EXPENSES Neil Funeral Home, Inc. $ 7,115.21 Funeral Dinner ~ 184.63 Rolling Green Cemetery (internment of remains) $ 1,175.00 Rolling Green Cemetery (memorial marker) $ 1,626.04 Executrix fee (Kimberly A. Caudill) $18,000.00 Attorney fees (R. Mark Thomas, Esquire) $17,000.00 Probate fees $ 495.00 Tax Return Preparer's fees (Doug Mangle) $ 175.00 Publication -Cumberland County Law Journal $ 75.00 Publication -The Patriot News $ 141.18 Appraisal of personal property -Bricker Auc. $ 100.00 Appraisal of jewelry -Joseph James Jewelers $ 42.40 Repairs to automobile $ 30.20 Reimburse Executrix travel expenses of 2/2007 $ 860.46 Wire fees from Edward Jones $ 11.00 U-Haul (transport household Earn. from estate) $ 1,008.68 Reimburse Executrix travel expenses of 8/2007 $ 1,026.01 Fulton Bank -estate checking account fee $ 64.20 UPS -ship financial records to Florida $ 36.48 Staples -purchase office supplies, boxes, etc. $ 16.96 UPS -overnight delivery of death certificate $ 13.58 Reimburse Executrix and sister for $ 1,529.42 travel expenses of 6/2007 Federal Express -overnight delivery and return $ Hazard insurance -Boiling Springs property $ Repairs -Boiling Springs property $ Final water & sewer bill -Boiling Springs property $ Storm tree removal -Boiling Springs property $ Reimburse Executrix travel expenses of 1012007 $ Rolling Green Cemetery -memorial tree $ 2007 real property taxes -Boiling Springs property $ Hazard insurance -Mechanicsburg property $ 2007 real property taxes -Mechanicsburg property $ 2007 school taxes -Mechanicsburg property $ PPL Electric -Mechanicsburg property $ United Water -Mechanicsburg property $ pork Waste Disposal -Mechanicsburg property $ Interior & exterior cleaning - Mechbg property $ Secco Home Services -Mechanicsburg property $ Zimmerman Plumbing, Heating and A/C - $ Mechanicsburg property Puroclean of Susquehanna Valley - Mechanicsburgproperty Michael Vandrew -Mechanicsburg property (routine property maintenance) Pennsylvania Inheritance Tax Account filing fee Publication fee of notice Wayne Myers -Auctioneer Sewer bill -Mechanicsburg property $ 19,575.10 $ 300.00 $ 80.00 $ 739.78 $ 300.00 TOTAL $85,500.18 COSTS OF SELLING REAL ESTATE (2B & 2C West Springville) ERA - NRT, Inc. (realtor) Kimberly Realty (realtor) Wire fees Transfer tax Tax certification Final sewer and water bill Pro-rated rents $ 6,040.00 $ 5,825.00 $ 31.00 $ 1,950.00 $ 5.00 $ 168.72 $ 459.96 80.00 445.00 364.41 198.00 3 50.00 696.82 82.00 412.18 743.00 539.68 1,920.57 478.20 75.04 43.50 970.00 69.95 1,575.00 $ 3,275.54 $ 1,460.00 ($14,479.68) PROPOSED SCHEDULE OF DISTRIBUTION 1. Bobbie L. Schwinibart 2. Brenda S. Stinson 3. Kimberly A. Caudill 4. Glenn Caudill, in trust for Dana M. Gilsdorf 5. Glenn Caudill, in trust for Brandon M. Gilsdorf $20,000.00 $20,000.00 $167, 825.06 $83,912.53 $83,912.53 Dated: February 1, 2008 Respectfully submitted, ~2~C~~ R. Mark Thomas, Esquire Attorney No. 41301 101 South Market Street Mechanicsburg, PA 17055 Telephone: (717) 796-2100