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REV-1500 1:.., -00)
REV-1500
INHERITANCE TAX RETURN
RESIDENT DECEDENT
COMMONWEALTH OF
PENNSYLVANIA
DEPARTMENT OF REVENUE
DEPT. 280601
HARRISBURG, PA 17128-0601
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DATE OF BIRTH (MM-DD-Year)
1 /04/2007 03/17/1920
(IF PPLlCABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
1. Original Retum
4. Liimited Estate
D 2. Supplemental Retum
D 4a. Future Interest Compromise (dateoldeathafler12-12-82)
00 7. Decedent Maintained a Liiving Trust (Attach copy oITrust)
D 10. Spousal Poverty Credit (date 01 death between 12-31-91 and 1-1-95)
6. Decedent Died Testate (Attach copy 01 Will)
9. Liitigation Proceeds Received
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1 Real Estate (Schedule A)
2 Stoc~:s and Bonds (Schedule B)
3 CloSElly Held Corporation, Partnership or Sole-Proprietorship
4 Mort~lages & Notes Receivable (Schedule D)
5 Cash, Bank Deposits & Miscellaneous Personal Property
(SChE!dule E)
6 Jointly Owned Property (Schedule F)
D Separate Billing Requested
7 Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Scheidule G or L)
8 Total Gross Assets (total Liines 1-7)
9 Funeral Expenses & Administrative Costs (Schedule H)
10. Debts of Decedent, Mortgage Liiabilities, & Liiens (Schedule I)
11. Total Deductions (total Liines 9 & 10)
12. Net Value of Estate (Line 8 minus Line 11)
13. Charitable and Govemmental Bequests/See 9113 Trusts for which an election to tax has not been
made (Schedule J)
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(9)
(10)
14. Net Value Subject to Tax (Line 12 minus Line 13)
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
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15. mount of Line 14 taxable at the spousal tax
rate, ,or transfers under Sec. 9116 (a)(1.2)
0.00 X _ (15)
816,537.67 X .045 (16)
0.00 X .12 (17)
0.00 X .15 (18)
(19)
16. mount of Line 14 taxable at lineal rate
17. mount of Line 14 taxable at sibling rate
18. mount of Line 14 taxable at collateral rate
19. ax Due
20. []
CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
> > BE SURE TO ANSWER ALL QUESTIONS ON REVERSE SIDE AND RECHECK MATH < <
OFFICIAL USE ONLY
FILE NUMBER
2 1 -0 7 1 1 6 4
""'COuNTYCODE --Y-EA~ - - NUMBER- -
SOCIAL SECURITY NUMBER
2 90- 0 9 - 3 4 2 3
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
SOCIAL SECURITY NUMBER
D 3. Remainder Retum (date 01 death prior to 12-13-82)
D 5. Federal Estate Tax Retum Required
_ 8. Total Number of Safe Deposit Boxes
D 11. Election to tax under Sec. 9113(A) (Attach Sch 0)
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39,779.7Q...!..t.... 0?;t?
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790,315.16 L_
OFFICIAL USE ONLY
PA 17201
(8)
11,112.13
2,445.06
(11)
(12)
(13)
(14)
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830,094.86
13,557.19
816,537.67
816,537.67
Road
CITY
STATE
PA
ZIP
17241
Tax Pa ments and Credits:
1. Tax 0 e (Page 1 Line 19)
2. Credit IPayments
A. Sp usal Poverty Credit
B. Pri r Payments
C. Dis aunt
(1)
36,744.20
Total Credits (A + B + C)
(2)
0.00
3. lntere tlPenalty if applicable
D.lnt est
E. Pe alty
TotallnterestlPenalty ( 0 + E ) (3)
4. is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 1 Line 20 to request a refund (4)
5. + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5)
A. Ent r the interest on the tax due. (5A)
B. Ent r the total of Line 5 + 5A. This is the BALANCE DUE. (5B)
Make Check Payable to: REGISTER OF WILLS, AGENT
0.00
0.00
36,744.20
36,744.20
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and : Yes No
a. retain the use or income of the property transferred; ........................................................................... 0 00
b. retain the right to designate who shall use the property transferred or its income; ........................................ 0 00
c. retain a reversionary interest; or ...................................................................................................... 0 00
d. receive the promise for life of either payments, benefits or care? ............................................................. 0 00
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration?................ ............ ................ ............ .............. .............. ... ....... 0 00
3. Did decedent own an 'in trust for' or payable upon death bank account or security at his or her death? ................. 0 00
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? ....................................................................................................... 00 0
IF THE AN WER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
ADDRESS
PA
PA 17201
For dates of eath on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3%
[72 P.S. ~91 6 (a) (1.1) (i)].
For dates of eath on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0% [72 P.S. ~9116 (a) (1.1) (iill.
The statute d s not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if
the surviving pause is the only beneficiary.
For dates of eath on or after July 1, 2000:
The tax rate i posed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent,
or a steppare t of the child is 0% [72 P.S. ~9116(a)(1.2)].
The tax rate i pOSl3d on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5%, except as noted in 72 P.S. ~9116(1.2) [72 P.S. ~9116(a)(1)].
The tax rate i pOSl3d on the net value of transfers to or for the use of the decedent's siblings is 12% [72 P.S. ~9116(a}(1.3)]. A sibling is defined, under Section 9102, as an
individual wh has at least one parent in common with the decedent, whether by blood or adoption.
REV-15l8 X + (15-98)
'* SCHEDULE E
COM ONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, & MISC.
NHEfmANCE TAX RETURN PERSONAL PROPERTY
RESIDENT DECEDENT
ESTATE ( i= FILE NUMBER
Frl1la M. 21 07 1164
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly-owned with right of survivorship must be disclosed on SChedule F.
ITEM VALUE AT DATE
NUMBEF DESCRIPTION OF DEATH
1. Checking Account #324670, The Citizens Banking Co., including interest accrued to 20,185.21
date of death, account designated payable on death to M.L.
Breneman and J. Marsrow, children of the decedent,
2. Refund, Union Bankers premium 936.83
3. Refund from nursing home 18,657.66
TOTAL (Also enter on line 5, Recapitulation) $ 39779.70
(If more space is needed, insert additional sheets of the same size)
REV-15iO E X + (6-98)
'* SCHEDULE G
INTER.VIVOS TRANSFERS &
COli MONWEALTH OF PENNSYLVANIA MISC. NON.PROBA TE PROPERTY
INHERITANCE TAX RETURN
RE,SIDENT DECEDENT
ESTATE F FILE NUMBER
Mar!';ro\ Erma M. 21 07 1164
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes.
DESCRIPTION OF PROPERTY
ITEM INCLUDE THE NAME OF THE TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AND DATE OF DEATH % OF DECD'S EXCLUSION TAXABLE
NUMBER THE DATE OF TRANSFER ATTACH A COPY OF THE DEED FOR REAL ESTATE. VALUE OF ASSET INTEREST VALUE
(IF APPLICABLE)
1. ccount#5513-7150, Stifel, Nicolaus & Company, titled 661,454.53 100. 661,454.53
rma M. Marscrow Revocable Living Trust, copy of
aluation attached
2. hec:king Account #102001193, Orrstown Bank, including 2,871.08 100. 2,871.08
i ~terE~st accrued to date of death, titled Erma M. Marsrow
evocable Living Trust, copy of valuation attached
3. hec:king Account #102800054, Orrstown Bank, including 42,573.04 100. 42,573.04
i MerE~st accrued to date of death, titled Erma M. Marsrow
I L ivinl~ Trust, copy of valuation attached
4. 1< ertificate of Deposit #4000014510, Orrstown Bank, including 54,943.73 100. 54,943.73
i terest accrued to date of death, titled Erma M. Marsrow
I L ivin~~ Trust, copy of valuation attached
5. If irst Trust Insured Municipal Bond Ohio Series 52, titled 13,549.50 100. 13,549.50
IE rma M. Marsrow Living Trust, copy of valuation attached
6. hio Insured Municipal Income Trust Series 90, titled Erma 11,608.50 100. 11,608.50
. Marsrow Living Trust, copy of valulation attached
7. P nnuity Policy No. 3002750, Allianz, named beneficiary-Erma 1,657.39 100. 1,657.39
1\ . Marsrow Living Trust
8. P nnuity Policy No. 3002817, Allianz, named beneficiary-Erma 1,657.39 100. 1,657.39
rv . Marsrow Living Trust
r-,OT A TION - Checking Account #613878, The Citizens
B~nking Company, titled Erma M. Marsrow Revocable Living
T ust, is shown on letter from Citizens Banking Company as
bing closed on 8/27/2007. This account was deposited into
A:;collnt #5513-7150, Stifel, Nicolaus & Company and is
p rt of the date of death valuation in Item No. 1 of this
s hedule.
TOTAL (Also enter on line 7 Recapitulation) $ 790.315.16
(If more space is needed, insert additional sheets of the same size)
REV-15~ 1 EX + (12~99)
.
ESTATE F
M
ITEM
NUMBE ~
A.
B.
cm MONWEALTH OF PENNSYLVANIA
INHE:RITANCE TAX RETURN
RI:SIDENT DECEDENT
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
FILE NUMBER
Frma M.
21
07
Debts of decedent must be reported on Schedule I.
DESCRIPTION
1.
2.
3.
4.
5.
6.
FUNERAL EXPENSES:
Fogelsanger-Bricker Funeral Home, funeral expenses
Balconi Monuments, Inc., marker
Margaretta Township Cemetery, grave opening
Minister
Meal after memorial service
St. Stephen's, donation for use of facility for memorial service
1.
ADMINISTRATIVE COSTS:
Personal Representative's Commissions
Name of Personal Representative (s)
Social Security Numbe~s)IEIN Number of Personal Representative(s)
Street Address
City
State
Zip
Yea~s) Commission Paid:
2.
3.
Attomey Fees Joel R. Zullinger
Family Exemption: (If decedenfs address is not the same as claimanfs, attach explanation)
Claimant
Street Address
City
State
Zip
Relationship of Claimant to Decedent
4.
Probate Fees JCP fee-10.00; automation-5.00; renunciation-5.00; will-15.00; letters-
135.00; short certificates-20.00; filing return-15.00
Accountanfs Fees
5.
6.
Tax Retum PrepareJ's Fees
7.
8.
Ocker & Associates, accounting fees
Mary L. Breneman, executor's travel expenses to Ohio for burial
TOTAL (Also enter on line 9, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
1164
AMOUNT
2,335.00
133.13
150.00
50.00
200.00
100.00
7,250.00
205.00
250.00
439.00
11112.13
REV-151 EX + (6-98)
'* SCHEDULE.
cmM ONWEALTH OF PENNSYLVANIA DEBTS OF DECEDENT,
INHE,RITANCE TAX RETURN MORTGAGE LIABILITIES, & LIENS
RIESIDENT DECEDENT
ESTATE )f FILE NUMBER
Marsro1 v. Erma M. 21 07 1164
Include unreimbursed medical expenses.
ITE ~ VALUE AT DATE
NUMEER DESCRIPTION OF DEATH
1. Continuing Care RX, balance due on account 54.15
2. United States Treasury, estimated tax payment 450.00
due
3. PA Department of Revenue, estimated tax payment 250.00
due
4. Vincent Eye Associates, balance due on account 26.91
5. United States Treasury, 2007 income tax due 1,293.00
6. PA Department of Revenue, 2007 income tax due 371.00
TOTAL (Also enter on line 10, Recapitulation) $ 2445.06
(If more space is needed, insert add~ional sheets of the same size)
,"'-"" x.,_
COM ONWEALTH OF PENNSYLVANIA
NHEf~ITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
M;m~rn N Erma M
SCHEDULE J
BENEFICIARIES
NUMBER
I.
NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY
TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under
Sec. 9116 (a) (1.2)]
Erma M. Marsrow Trust under Revocable Living Trust
Agreement dated August 11 I 1993
1.
FILE NUMBER
21 07
RELATIONSHIP TO DECEDENT
Do Not List Trustee(s)
Lineal
1164
AMOUNT OR SHARE
OF ESTATE
residue of estate
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIA TE, ON REV-1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1.
TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $
(If more space is needed, insert additional sheets of the same size)
fljnst IItll nub Wtstnmtut
OF
ERMA M. MARSROW
I, ERMA M. MARSROW, of Erie County, Ohio, being of sound mind and memory, with
f 11 knowledge, and under no restraint, do hereby make this my Last Will and Testament,
a d revoke all former wills, codicils, and testaments.
I. I direct that all of my legal debts, funeral expenses, and expenses of
administering my estate shall be paid from my residuary estate, 'without recourse
against any other beneficiary for reimbursement of any taxes, debts, or expenses
paid, according to the law in the due course of the administration thereof.
II. I leave all of my rights and interests to the real property which is serving as
my personal residence at my death to MARY L. BRENEMAN and JOHN S. MARSROW in
equal shares, per stirpes.
II. I leave all my rights and interests to my tangible personal property to MARY L.
BRENEMAN and JOHN S. MARSROW in equal shares, per stirpes.
IV. I leave all the rest and residue of my property, real or personal, of every kind
and description, wheresoever located, which I may own or have the right to
dispose of or appoint at the time of my death, I hereby appoint, give, bequeath,
transfer and devise to THE ERMA M. MARSROW TRUST, and its Trustees or successors
in interest, to be held and disposed of under said Trust Agreement entered into
between me and said Trustee under date of C7AL~A~ II , 1993, as the
same may be amended from time to time. It is m lntentlon to simply identify said
Trust Agreement and not to incorporate it by reference into this will or to
create a testamentary trust hereby. However, if for any reason said living trust
shall not be in existence at the time of my death, or if for any reason a court
or courts of competent jurisdiction shall validly and definitively declare this
bequest and devise to be ineffective and invalid, then I appoint, give, bequeath,
and devise all of the said property passing under this paragraph of my will to
the Trustee named herein, or their successors, as Trustee, without bond, to be
held, managed and distributed in the same manner described in said living trust
agreement hereinbefore referred to which, under said circumstances, I do hereby
incorporate by reference into this Will to be administered as a testamentary
trust.
End of Page 1
Page 2 of 3
V. In the event that any of my children or beneficiaries shall die in a common
disaster with me or under such circumstances as may make it impossible or
difficult to determine which of us died first, I direct that Section 2105.21 of
the Ohio Revised Code shall not apply and that my deceased child, children or
beneficiaries shall be conclusively deemed to survive me.
I. I appoint MARY L. BRENEMAN and ROBERT S. HENDRIX, ESQ., as Co-Executors. If MARY
L. BRENEMAN shall fail to qualify or having qualified, shall die, resign, or
cease to act as such Executor, then I appoint JOHN S. MARSROW, of Allen, Texas
and ROBERT S. HENDRIX, ESQ. as CO-Executors in her place and stead. No
Executrix/Executor shall be required to post bond in any Court of law.
In the event any trust shall come into existence under this will, I appoint MARY
L. BRENEMAN as Trustee of such trust, and with JOHN S. MARS ROW of Allen, Texas
her Successor Trustee.
Anyone contesting the validity of this my Last Will and Testament or of its
bequests shall be deemed to have predeceased me.
IX. I leave the arrangements for my funeral to my Executrix/Executor.
X. No section or bequest shall be deemed to pass to any person or lives not in being
plus 21 years.
XI. In addition to all of the powers granted by law, I hereby give and authorize and
empower my Executor/Executrix uncontrolled discretion to sell and dispose of any
property, real or personal, belonging to me at the time of my death, either at
public or private sale, and upon terms and for such prices as he may deem best,
and to deliver to any purchaser any deeds, bills of sale, or other instruments,
as may be necessary to vest the title absolutely in the purchaser, and all
purchasers shall be exempt from all responsibility with respect to the
application of the purchase price and from the necessity of inquiring into the
regularity, validity, or propriety of any sale made under the powers herein set
forth. Any powers granted my Executor in this, Item XI, may be exercised without
application or bond to any court of law or administrative body.
End of Page 2
Page 3 of 3
IN WITNESS WHEREOF, I have hereunto set my hand to this my Last Will and
T stament this II day of ~ ' 1993.
~ m. m~r
ERMA M. MARSROW
Signed by said ERMA M. MARSROW, who was of sound mind and memory, and by her
knowledged to be her Last will and Testament before us and in our presence and by us
scribed as attesting ""litnessefl'~ her presence ~~d~ her request and in the
esence of each other, this L~ _ day of ~--r-- ' 1993. .< _
~~j'+!I-/.;1/ 1/', fl' i ....../I;;L/-- ,1 /; /(1.
--- <.:0./,-,I-!..- I . /'(-1./(.,.1--) residing at!-"f/// i-,(,<~ 1t-vLO..-U- A./--f. .
~A/~ residing at ~;;',:;;J;~5N7
P epared By: Robert S. Hendrix, Esq., 303 E. Broad St., Columbus, Ohio 43215
ERMA M. MARSROW REVOCABLE LIVING TRUST AGREEMENT
THIS AGREEMENT iA entered into this day of ~~f~;l
1993, at la/?~ ~.M. at , Ohio by a between ERMA
M. MARSROW of the county of Erie, State of hio as Grantor and as the Trustee
of The ERMA M. MARSROW REVOCABLE LIVING TRUST, with JOHN S. MARSROW and MARY
L. BRENEMAN as her Successor Co-Trustees, and upon either individual's death
or incapicity the survivor thereof shall be the sole Successor Trustee:
WITNESSETH
The Grantor desires to create a trust for the purposes and upon the terms
and provisions hereinafter set forth and for the benefit of the Grantor's
children and the other beneficiaries designated herein. Accordingly,
simultaneously with the execution of this agreement, the Grantor hereby
transfers to the Trustee any property and property rights described in
"Schedule A" or hereafter assigned, conveyed, devised or bequeathed to the
Trustee by the Grantor or by any other persons (all of which are hereinafter
collectively termed the "Trust Estate"), to be held and disposed of by the
Trustee as hereinafter provided. The term "Trust Estate" shall include but
not limited to Schedule A, which is attached and incorporated into this Trust
Agreement.
To facilitate the administration of this Trust Agreement each reference
hereinafter contained to the Grantor's:
"child" or "children" is to:
1. MARY L. BRENEMAN,
born August 14, 1952.
2. JOHN S. MARSROW,
born May 20, 1947.
- 1 -
ARTICLE I
GRANTOR'S RIGHTS
This trust is made on the condition precedent that the Grantor shall at
all times have and possess the following rights and powers:
A. To assign, transfer and deliver additional real or personal property
to the Trustee to be held, managed, invested, and distributed by the Trustee
on the terms and conditions herein specified.
B. To withdraw all or any part of the assets belonging to the Trust
Estate by instrument in writing delivered to the Trustee.
C. To alter or amend this agreement, in whole or in part, by instrument
in writing delivered to the Trustee, without the consent of the Trustee or any
beneficiary, provided that the duties, powers, compensation, and liability of
the Trustee shall not be changed without its written consent. Upon the death
of the Grantor this Trust Agreement shall thereafter be irrevocable and not be
subject to alteration or amendment by any person.
D. To cancel or revoke this agreement, in whole or in part, by
instrument in writing delivered to the Trustee without the consent of the
Trustee or any beneficiary.
E. With regard to any insurance policies which may be made payable by
the Grantor to the Trustee:
(1) To sell, assign, pledge, borrow upon or convert the said
policies of insurance or anyone or more of them, from time to time, without
requiring the consent of the Trustee or any beneficiary.
(2) To withdraw any policy or policies deposited under this
agreement at any time in the Trust Estate upon giving to the Trustee a proper
receipt therefor, and the Trustee agrees to execute and deliver any and all
instruments that may be necessary to release the interest of the Trustee in
any such policies or assets so withdrawn.
(3) To exercise, without the consent of the Trustee or any
beneficiary, any and all options, elections, rights, (including the right to
change the beneficiaries) and privileges given to the Grantor under the terms
of any insurance policy held by the Trustee hereunder, and the Trustee agrees
to execute any and all instruments that may be necessary to permit the
exercise of such rights by the Grantor.
(4) To receive any dividends or other earnings of said policies and
assets without accountability therefor.
- 2 -
ARTICLE II
ADMINISTRATION FOR GRANTOR'S BENEFIT
A. During the Grantor's lifetime, the trust shall be held and
administered as follows:
(1) The Trustee shall pay from the income, if any, of the Trust
Estate all costs, charges and expenses of administering the trust, including
all taxes levied against the Trust Estate or any part thereof, and after the
payment thereof, the Trustee shall pay to the Grantor the remaining net
income, if any, and so much of the corpus as the Grantor may request at any
time in writing.
(2) At any time in the Grantor's life in which the Grantor is in the
opinion of the Trustee, after obtaining the concurring opinion of two
attending physicians, incapacitated, the Trustee shall payout or apply for
the benefit of the Grantor or her dependents so much of the income and corpus
as the Trustee deems appropriate for their support, health, maintenance, and
education, and the Trustee may discharge obligations of the Grantor.
B. At the time of the Grantor's death, the Trustee shall proceed to
collect and receive the proceeds of all policies payable to it and the Trustee
is hereby authorized to execute all necessary receipts and releases to the
insurance companies concerned. The issuing companies shall be under no duty
or obligation to see to the application of the sums paid by them to the
Trustee on account of any policies or policy included herein. In the event
there are any loans against or secured by such policies in favor of the
insurance company or others, the amount of such loans shall be considered as a
charge against the proceeds of such policies and only the net proceeds after
deducting such loans shall be payable to the Trustee, and the Trustee shall
not seek reimbursement therefor from the Grantor's personal representative.
The net proceeds thus collected, together with all other property then held by
the Trustee and all property passing to the Trustee under the terms of
Grantor's Will or otherwise, shall be added to and become a part of the Trust
Estate and shall be administered as set forth herein. Notwithstanding the
fact that the estate of the Grantor may be sufficient to pay the following
expenses and the fact that the Grantor's personal representative and the
Trustee may be one and the same, the Trustee shall pay to the Grantor's estate
such sums as the Grantor's personal representative shall request in writing
for the purpose of paying any legal obligations of said estate (including the
cost of a suitable funeral) existing at the death of the Grantor), and all
taxes levied against the estate thereof. If at the time of the death of the
Grantor, the Trustee holds United States Treasury bonds redeemable at par for
the payment of federal estate taxes then notwithstanding the foregoing, the
Trustee shall deliver such bonds to the Grantor's personal representative or
if note, then the Trustee shall use such bonds in payment of the federal
estate taxes due by reason of the death of the Grantor. The Trustee hereunder
shall have no duty to inquire into the validity or accuracy of any said taxes
or other payments due as hereinabove provided for and shall not be liable for
relying upon such written requests.
- 3 -
ARTICLE III
ADMINISTRATION OF TRUST ESTATE
The Trust Estate shall be held and administered as follows:
(1) The "time of division" shall be such time at or after the death of
the Grantor as there is no living child of the Grantor under the age of
twenty-one (21) years.
(2) Until the time of division, the Trustee shall pay to or apply for
the benefit of such of the Grantor's children from time to time as are living
all or so much of the income of the assets (including the investments and
reinvestments thereof) of the Trust Estate in such amounts and at such times
as the Trustee in its sole and uncontrolled discretion shall determine. In
determining the amounts of income to be paid or applied and the recipients
thereof, the Trustee may but shall not be required to consider other income
and/or support available to the Grantor's children and shall consider the
amounts it deems reasonably necessary for the support, health, maintenance,
and education (including but not limited to college) of each of them, also
taking into consideration other pertinent factors. Any person eligible to
receive such payment(s) may be excluded and all of the net income may be used
for the benefit of any beneficiary or beneficiaries without regard to equality
of payment. Unused income may be periodically accumulated and added to
corpus.
(3) In addition, the Trustee is authorized to pay to anyone or all of
the Grantor's children or the lineal descendants of any deceased child so much
of the corpus of the Trust Estate as the Trustee shall, at any time and from
time to time, determine to be necessary or desirable, for a beneficiary's
support, health, maintenance and education (including but not limited to
college)
(4) Trust Distribution: At the time of division the Trustee shall
divide the remaining trust assets, adjusted for any advancements made in
accordance with paragraph (9) hereunder, per stirpes into equal shares, and
set apart one share for each child of the Grantor then living and one share
for the issue collectively living of a child of the Grantor then deceased.
(5) Any share hereinabove or hereinafter created and set apart by the
Trustee shall be held as a separate trust for each living child of the Grantor
and/or the issue collectively living of a deceased child of the Grantor until
final distribution as hereinafter defined in paragraph (6) or (7), as the case
may be.
(6) With respect to a separate trust set apart and held for a living
child of the Grantor:
The Trustee shall pay to or apply for the benefit of such child the
entire net income of his or her respective trust and so much of the corpus
thereof, as the Trustee in its sole and uncontrolled discretion deems
necessary for his or her support, health, maintenance and education (including
but not limited to college) .
- 4 -
At or after the time of division when such child shall have attained the
age of twenty-one (21) years of age, such child shall have the right to
request in writing and receive, outright and free of trust, one-third of the
principal and accrued interest of such trustj and when such child attains the
age of twenty-five (25) years of age, such child shall have the right to
request in writing and recieve, outright and free of trust, one-third of the
principal and accrued interest of such trustj and when such child shall attain
the age of thirty (30) years, such child shall have the right to request in
writing and receive, outright and free of trust, the balance of his or her
trust.
If such child shall die prior to the final distribution of his or her
t:rust, leaving issue surviving such child, the Trustee shall transfer and pay
over his or her trust to such child's issue then living, per stirpes, but
subject to the provisions of paragraph (8) if an issue beneficiary of the
Grantor is under the age of twenty-one (21) years.
If such child shall die prior to final distribution of his or her trust
leaving no issue surviving, then as soon as possible after the time of such
child's death, the Trustee shall transfer and pay over all of his or her trust
t:o the Grantor's issue then living, per stirpes, provided, however, that any
property which would be distributable to any issue of the Grantor for whom
property is then held in trust under this Trust Agreement shall be added to
such trust and administered as a part thereofj and provided further that any
such distribution shall be subject to the provisions of the following
paragraph (8) if an issue beneficiary of the Grantor is under the age of
twenty-one (21) years.
(7) With respect to a separate trust set apart and held for the issue
collectively living at the time of division of a deceased child of the
Grantor, the Trustee shall at the time of division transfer and pay over such
trust to such child's issue then living, per stirpes, but subject to the
provisions of paragraph (8) if an issue beneficiary of the Grantor is under
the age of twenty-one (21) years.
(8) The foregoing paragraphs are subject to the provision that whenever
property is distributable to an issue beneficiary of the Grantor who is under
the age of twenty-one (21) years, the property shall be retained as a separate
trust until such issue shall attain or die under the age of twenty-one (21)
years. The Trustee shall pay to or apply for the benefit of such issue
beneficiary so much of the net income and corpus of his or her trust as the
Trustee in its sole and uncontrolled discretion shall deem necessary for his
or her support, health, maintenance and education (including but not limited
1:0 college). Upon attaining the age of twenty-one (21) years, the Trustee
shall pay over all of such trust to such issue beneficiary free of trust. If
such issue beneficiary shall die before attaining the age of twenty-one (21)
years, the Trustee shall pay such trust to such issue beneficiary's estate.
(9) The Trustee may in its discretion make advancements of corpus of the
Trust Estate to any of the Grantor's children or corpus of a separate child's
trust to such child for the purpose of going into business, acquiring a home,
becoming married, or other reason. Such advancements are to be made for such
purposes and in such amounts as the Trustee in its sole discretion shall deem
advisable, taking into consideration the size of the Trust Estate and the
- 5 -
possible future needs of the Grantor's family, and shall not be questioned by
anyone even though by possibility such advancements might conceivably exceed
the child's ultimate share provided, however, after the time of division such
advancements shall not exceed such child's share. Any such advancements shall
be so identified, and in the Trustee's discretion shall be with or without
interest, and if made prior to the time of division, shall be added to the
value of the Trust Estate at the time of division under paragraph (4) above
and charged against said child's ultimate share.
ARTICLE IV
MISCELLANEOUS ADMINISTRATIVE PROVISIONS
(1) During the minority or disability of any beneficiary hereunder, the
Trustee may in its sole discretion distribute income and corpus to such
beneficiary in anyone of the following ways: (1) directly to said
beneficiarYi (2) to a relative, friend, guardian, or committee, to be expended
by such person for the support, health, maintenance and education (including
but not limited to college), or benefit of said beneficiarYi (3) by itself
expending the same for the support, health, maintenance and education
(including but not limited to college), or benefit of said beneficiarYi or (4)
in the case of a minor, to a custodian in the manner prescribed under the Ohio
Uniform Gift to Minors Act (ORC Section 1339.32). The Trustee is specifically
authorized to name a custodian of the property, and may name itself as said
custodian.
(2) If at any time a trust hereunder has a market value of Twenty-Five
Thousand Dollars ($25,000) or less, or if it is determined by the Trustee
without the approval of any court or beneficiary that the expense of
continuing such trust is unreasonably great in relation to its assets thereof,
the Trustee may, in its absolute discretion, terminate the trust and
distribute the trust property proportionately to the primary beneficiary or
beneficiaries, as the case may be, then entitled to receive or have the
benefit of the income therefrom.
(3) In any event all trusts created herein shall terminate no later than
twenty-one (21) years after the death of the last survivor of the
beneficiaries hereunder including Grantor's legal issue and the appointees
under any power of appointment granted herein who are living at the date of
Grantor's death, and upon termination, the trust funds then held hereunder
shall be distributed free of trust to the then income beneficiaries, each
receiving as his or her share the trust assets, the income from which is being
paid or is payable to him or her.
(4) The words "child", "children", and "issue" when used in this
agreement shall include persons now living and any hereafter born and shall
include adopted persons in each case.
(5) Any beneficiary except the Grantor's spouse shall be deemed to have
survived the Grantor only if such beneficiary survives the Grantor by more
t:han thirty (30) days.
- 6 -
(6) In the event of the death of any beneficiary of income of the Trust
Estate, the income payable to such beneficiary shall not be accrued to the
date of his or her death unless otherwise provided herein; and any collected
or accrued income on investments of the trust which would have become payable
to such beneficiary shall be added to and become a part of the income payable
to those beneficiaries of the trust entitled to receive income immediately
upon the death of such deceased beneficiary of income.
(7) Any attempt to alienate any of the beneficial interests under any
trust created herein shall be dealt with in the following manner: To the
extent permitted by law, no interest of any beneficiary in the income or
principal of any trust hereby created shall be subject to pledge, assignment,
sale or transfer in any manner, nor shall any beneficiary have power in any
manner to anticipate, charge or encumber his or her said interest nor shall
said interest of any beneficiary be liable or subject in any manner while in
the possession of the Trustee for the debts, contracts, liabilities,
engagements or torts of such beneficiary. If because of any alienation or
attempted alienation by any beneficiary of any interest or right to receive
payments under any trust created herein, or if from any cause whatsoever, such
payments or any part thereof shall, or but for this provision would, at any
time become payable to or pass to or for the benefit of any person other than
such beneficiary, then the interest in and the right of such beneficiary to
receive such payments shall cease and terminate and thereafter said payments,
or such part thereof as shall become so forfeited by such beneficiary, shall
be applied as determined by the Trustee in its uncontrolled discretion to the
use of any other beneficiary or beneficiaries in such manner and portions as
said Trustee may deem best; provided further that notwithstanding any
forfeiture of a beneficiary as aforesaid, the Trustee in its uncontrolled
discretion, but without any obligation to do so, may from time to time apply
or direct the application of said portion of such payments forfeited as
aforesaid, or so much thereof as it deems best, to the use of the beneficiary
so forfeiting the same. These forfeiture provisions shall not apply to any
trust for which an exclusion is claimed under I.R.S. Sec. 2613(b) (6).
(8) In the event there would be a failure of a trust because there is no
one eligible to receive a final distribution under the Article concerning the
administration of the Trust Estate, the Trustee shall upon the occurrence of
such failure transfer and pay over the Trust Estate or such separate trust, as
the case may be to those persons then living and entitled to inherit the
Grantor's estate (as determined by the Ohio Statute of Descent and
Distribution) had the Grantor died intestate at the time of such failure.
- 7 -
ARTICLE V
TRUSTEE'S POWERS
Subject to the rights and powers reserved to the Grantor in this
agreement, the Trustee of each trust established hereunder, shall have the
following powers, authority, and discretions and any others that may be
granted by law:
(1) RETAIN PROPERTY: To keep and retain any or all investments and
property, real, personal, or mixed, in the form as they may be at the time
they come into the custody of said Trustee, regardless of the character of
same or whether they are such as then would be authorized by law for
investment by the Trustee or whether a disportionately large part of the Trust
Estate remains invested in one or more types of property, for such time as the
Trustee shall deem best, and to dispose of such property by sale, exchange, or
otherwise as and when it shall deem advisable.
(2) SELL: To sell, assign, exchange, transfer, and conveyor otherwise
dispose of any or all of the investments and property, either real, personal,
or mixed, which may be included in or may at any time become part of the Trust
Estate, upon such terms and conditions as it in its absolute discretion may
deem advisable, at either public or private sale, either for cash or deferred
payments or other consideration, as it may determine; and for the purpose of
selling, assigning, exchanging, transferring, or conveying the same, to make,
execute, acknowledge, and deliver any and all instruments of conveyance, deeds
of trust, or assignments in such form and with such warranties and covenants
as it may deem expedient and proper; and in the event of sale, conveyance,
exchange, or other disposition of any of the Trust Estate, the purchaser shall
not be obligated in any way to see to the application of the purchase money or
other consideration passing in connection therewith.
(3) LEASE: To lease any or all of the real estate, which may be
included in or at any time become a part of the Trust ~state, upon such terms
and conditions as said Trustee in its sole judgment and discretion may deem
advisable and any lease or leases made by it may extend beyond the term of the
trust and for the purpose of leasing said real estate, to make execute,
acknowledge, and deliver any and all instruments in such form and with such
covenants and warranties as it may deem expedient and proper.
(4) INVEST: To invest any money in the Trust Estate in stocks, bonds,
investment trusts, common trust funds established and maintained by the
Trustee for the collective investment of fiduciary funds, and any other
securities or property, real or personal, secured or unsecured, productive or
unproductive, whether the obligations of individuals, corporations, trusts,
associations, governments, expressly including shares and obligations of its
own corporation, an affiliate, parent or subsidiary thereof, or otherwise,
either within or outside of the State of Ohio, as the Trustee shall deem
advisable, without limitation whatsoever as to the character of investment
under any statute or rule of law now or hereafter enacted or existing
regarding trust funds or investments by fiduciaries or otherwise.
- 8 -
(5) VOTE: To vote any stocks, bonds, or other securities held by it at
any meetings of stockholders, bondholders, or other security holders, and to
delegate the power so to vote to attorneys in fact or proxies under power of
attorney, restricted or unrestricted; unless required by law or upon the
written direction of the Grantor, the Trustee will not disclose to
corporations the names and addresses of beneficial owners of stock held in
nominee name.
(6) BORROW: To borrow money without personal liability, for such
periods of time and upon such terms and conditions as to rates, maturities,
renewals and security as to it shall seem advisable, for the purposes of
paying debts, taxes, or for any other purpose in the administration of this
trust; and to mortgage or pledge such portion of the trust as may be required
to secure such loan or loans and as maker or endorser to renew existing loans.
(7) COMPROMISE, SUE AND DEFEND: To compromise, adjust, arbitrate, sue
on or defend, abandon, or otherwise deal with settle claims, in favor of or
against the trust as the Trustee shall deem best and its decision shall be
conclusive. The Trustee, however, shall not be required to take any action
until indemnified to its satisfaction.
(8) DISTRIBUTE IN KIND: To make allocations and distributions in cash
or in kind, or partly in each, at valuations to be determined by the Trustee,
whose decision as to values shall be conclusive, except as herein may be
otherwise specifically provided, and to make non-pro-rata distributions in
kind so as to permit the Trustee in its discretion to make such distributions
without regard to the adjusted basis of the assets and without making any
equitable adjustments among the distributees.
(9) INCOME AND CORPUS: To determine in a fair and reasonable manner
whether any part of the Trust Estate, or any addition or increment thereto, be
income or corpus, or whether any cost, charge, expense, tax, or assessment
shall be charged against income or corpus, or partially against income and
partially against corpus.
(10) REAL ESTATE: To repair, alter, improve, renovate, reconstruct, and
demolish any of the buildings on the real estate held by it, and to construct
such buildings and improvements thereon as it may in its discretion deem
advisable.
(11) ATTORNEYS AND AGENTS: To employ and compensate, out of the corpus
or the income, or both, as the Trustee shall deem proper, agents, accountants,
brokers, attorneys in fact, attorneys-at-law, tax specialists, realtors, and
other assistants and advisors, deemed by the Trustee needful for the proper
administration of the Trust Estate, and to do so without liability for any
neglect, omission, misconduct, or default of any such agent or professional
representative, provided he or she was selected and retained with reasonable
care.
(12) COMMUNICATIONS: To rely upon any affidavit, certificate, letter,
notice, telegram, or other paper, or upon any telephone conversation, believed
by it to be genuine, and upon any other evidence believed by it to be
sufficient, and to be protected and saved harmless in all payments or
distributions upon a condition.
- 9 -
(13) REGISTRATION: To cause any property comprising a part of the Trust
Estate to be issued, held or registered in the Trustee's name as Trustee, in
the name of Trustee's nominee, in the name of a nominee of the Trustee's
agent, or in such other form that title will pass by delivery.
(14) LOCATION OF TRUST PROPERTY: To keep any property comprising part of
the Trust Estate at any place or places within the United States or abroad,
either with a depository or custodian or otherwise.
(15) INSURANCE: To receive, apply for, own and maintain life insurance
on the life of the Grantor or any beneficiary hereunder or other person, and
the Trustee may exercise all rights contained in said insurance policies; to
obtain and carry public liability, property damage, health and accident
insurance and such other insurance contracts as the Trustee shall deem
advisable to protect the Trustee, the Trust Estate, and any beneficiaries of
any trust hereunder against any and all hazards.
(16) PURCHASES AND LOANS TO EXECUTOR: To be given broad discretionary
powers to use the proceeds of insurance or other funds held by it to pay any
part or all of the federal estate and state death taxes levied upon the
Grantor's estate and that of any beneficiary; to advance funds to the executor
or administrator of the respective estates, with or without security; and to
purchase assets, real or personal, from each estate; to pay all taxes,
assessments, costs, insurance charges and other expenses arising in connection
with the administration of the Trust Estate, including taxes under the estate
of the Grantor and reasonable compensation to the Trustee, its agents and
attorneys, and to determine whether and to what extent such taxes,
assessments, costs, charges and expenses shall be deducted from and charged
against income or principal.
(17) NO COURT REVIEW: To act without having to obtain the authority or
approval of any court for any such act which it may desire to do in the
administration or management of the Trust Estate or in the disbursement,
investment or reinvestment or management of the trust funds.
(18) DISCLAIMER: To disclaim, in whole or in part, any devise or legacy
or any interest in any trust provided for any beneficiary hereunder at any
time within nine months after the date of the transfer which created an
interest in such beneficiary.
(19) OPTIONS: To exercise, in its sole discretion, any option for the
purchase of any stock or other assets arising out of Grantor's employment by
any company. Such option may be exercised in whole or in part to the extent
permitted by the terms of such option or options. The Trustee is authorized
to borrow money for such purpose and to sell the stock or other assets so
acquired for such price and on such terms as it deems appropriate.
(20) BUSINESS: To retain any interest received or held by it in any
business, whether as a stockholder or security holder of a corporation, a
partner, a sole proprietor, or otherwise, for any length of time, without
limitations, solely at the risk of the Trust Estate and without liability on
the part of the Trustee for any losses resulting therefrom; to participate in
the conduct of such business and take or delegate to others discretionary
power to take any action with respect to its business, including the voting of
- 10 -
stock, and to make the determination of any and all questions of policYi to
participate in any incorporation, reorganization, merger, consolidation,
recapitalization, or liquidation thereof; to invest additional capital in,
subscribe to additional stock or securities of, and loan money or credit with
or without security to, such business out of the Trust Estate; to elect or
employ as directors, officers, employees, or agents of such business, and
compensate any persons including the Trustee or a director, officer, or agent
of the Trustee; to accept as correct financial or other statements rendered by
the business from time to time as to its conditions and operations except when
having actual notice to the contrary; to regard the business as an entity
separate from the Trust Estate with no duty to account to any court as to its
operations as allowed by local law; to deal with and act for the business in
any capacity, including any bank or trust capacity and the loaning of money
out of the Trustee's own funds, and to be compensated therefor; and to sell or
liquidate such interest, or any part thereof, at any time. If any business
shall be unincorporated, contractual and tort liabilities arising out of the
Trust Estate; but it is intended that in no event shall there be a liability
of the Trustee, and if the Trustee shall be held liable, it shall be entitled
to indemnification from the business and the Trust Estate in the order named.
Being aware of the fact that the duties the Trustee has been requested to
assume with respect to business interests may considerably enlarge and
increase its usual responsibilities, duties, and work as Trustee, it is agreed
that the Trustee shall be entitled to such additional reasonable compensation
as is commensurate with the time, effort, and responsibility involved in its
performance of services with respect to such businessi such compensation for
services rendered to the business may be paid by it from the business or from
other assets, or from both, as the Trustee in its discretion may determine to
be advisable.
(21) STATEMENTS: To render such written accounts of the administration
of the trust to the Grantor during his lifetime (while the trust is funded) as
the Grantor requests and thereafter, to any current beneficiaries of income or
corpus as requested who have attained the age of majority or to the guardian
of the estate of any person, as the case may be. Such designated recipients
of statements hereby acknowledge the right to receive written confirmation of
each transaction but waiver that right on the condition that periodic
statements of activity will be issued to such designated recipients.
(22) ELECT: To make such elections and exercise such options as may be
advisable on income tax returns, all in such manner as Grantor's Trustee may
deem advisable without being required to make any equitable adjustments.
(23) BROAD POWER: To do all other acts and things not inconsistent with
the provisions of this instrument which it may deem necessary or desirable for
the proper management of the trusts herein created, in the same manner and to
the same extent as an individual might or could do with respect to his own
property, all without reference to the laws of the State of Ohio, court order,
or the rules of any court governing activities of a Trustee.
- 11 -
ARTICLE VI
PROVISIONS REGARDING THE TRUSTEE
Any Trustee hereunder may resign upon thirty (30) days' written notice,
which may be waived, mailed to the Grantor, and if the Grantor be deceased, to
the person or persons then entitled to receive payment of income.
The Grantor may remove or cause the removal of the Trustee or any
Successor Trustee as Trustee under the trusts and may designate another
Trustee to serve as Successor Trustee hereunder. After the Grantor's death
and at any time during the continuance of the trust, a majority of the persons
who have reached the age of twenty-five (25) years, who are then entitled
under the terms of this Agreement to regular income distributions, may jointly
remove or cause the removal of the Trustee and may designate, at their own
discretion, another Trustee to serve as Successor Trustee.
Upon accounting to and delivery to a Successor Trustee, which shall be a
bank or trust company authorized to perform the duties of Trustee, of all
funds in its possession, the resigning or removed Trustee shall be completely
discharged of the trust herein. Upon its acceptance, a Successor Trustee so
appointed shall be vested with all of the duties and powers, discretionary or
otherwise, granted to the original Trustee by the terms of this instrument.
No Trustee at any time acting hereunder shall be required to furnish bond.
Any Successor to the trust business of the Trustee shall become Trustee
in place of its predecessor, without the necessity of any conveyance or
transfer.
For its services a corporate Trustee or its successors, shall receive the
compensation stipulated in its regular schedule of compensation in effect and
applicable at the time such compensation shall become payable.
The trust herein created shall be deemed to be an Ohio trust and shall be
governed and interpreted in all respects by the laws of the State of Ohio.
The Trustee accepts the trust hereby created and agrees to carry out the
provisions hereof on its part to be done and performed.
- l2 -
IN WITNESS WHEREOF, the parties hereto have executed this agreement in
duplicate as of the day, time and year first above written.
~~ h1. m ~n-u...r
Grantor: ERMA M. MARSROW
~~m.m~?
Trustee: ERMA M. MARSROW
Trustee: ~~ ~. Br ~,
fHI1
Sworn and Signed before me, a notary public, by ERMA M. MARSROW, who
stated that this was her voluntary act and deed, and done with full knowledge
of her actions this ~ day of
My Commission ends
Col. WHITAKER
NOTARY PUBLIC, STATE OF OHIO
MY COMMISSION EXPIRES Jan. 31, 1997
- 13 -
SCHEDULE "A"
TRUST CORPUS
1. Cash: $10.00
2. All of my tangible personal property, including but not limited to:
furniture, clothing, jewelry, collections, etc., wherever situated, I
hereby grant into this trust.
- 14 -
ALLOCATION OF TRUST ESTATE
l.
2.
3.
4.
5.
6.
7.
8.
9.
10.
ll.
12.
13 .
14.
15.
16.
17.
18.
19.
20.
- 15 -
TRUST AMENDMENT NO.1
THE ERMA M. MARSROW REVOCABLE LIVING TRUST
That, ERMA M. MARSROW, City of Newville, Cumberland County, State
of Pennsylvania, as Grantor and Trustee of THE ERMA M. MARSROW
REVOCABLE LIVING TRUST dated August 11th, 1993, herein amend
ERMA M. MARSROW REVOCABLE LIVING TRUST dated August 11th 1993,
in the following manner:
1. The Opening paragraph ofTRE ERMA M. MARS ROW
REVOCABLE LIVING TRUST shall henceforth read as follows:
THIS AGREEMENT is entered into this jyM day of July, 2006 at
q.. ~5" aWl. at Newville, Pennsylvania by and between ERMA M.
MARSROW of the County of Cumberland, State of Pennsylvania
as Grantor and as the Trustee ofTRE ERMA M. MARSROW
REVOCABLE LIVING TRUST, with ERMA M. MARSROW,
JOHN S. MARSROW, and MARY L. BRENEMAN as current active
Co- Trustees, any of which can sign or represent the trust upon any
individual's death or incapacity, with the survivor( s) thereof as
Successor (Co)-Trustee(s). Trustees may act jointly or
independently of each other.
2. In all other matters and for all other purposes, I hereby reaffirm
and ratify the aforesaid Trust, all of its articles, paragraphs and
bequests.
IN WITNESS WHEREOF, I have hereunto set my hand this / f#. day
of
JIA /~
, 2006.
"'Titness:
?ILd' / c#~
her
"
{ mark }
ERMA M. MARSROW
State of Pennsylvania :
ss:
County of Cumberland:
On this the I K ,"1... day of 1. ~ ' 2006, before me, a notary
public, personally appeared Erma M. Marsrow, known to me or satisfactorily
proven to be the person whose mark is subscribed to the within trust amendment,
and acknowledged that she executed the same by her mark for the purposes therein
l;:ontained.
In Witness Whereof, I have hereunto set my hand and official seal.
-to. c/ CJI~
NOTARY PUBLIC
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
VICki L. Hopkins, NoIaly Public
West PennsbOro Twp., CLmberIand County
My Commission Expires Jan. 15,2008
Member. Pennsylvania Association Of Notaries
AFFIDAVIT OF TRUST
THE ERMA M. MARSROW REVOCABLE LIVING TRUST
DATED: August, 11th, 1993
By and Between:
ERMA M. MARSROW, Grantor
and
ERMA M. MARSROW, Trustee
1. The grantors created this Revocable Trust on August 11th, 1993.
2. The following are the relevant Articles of said Trust:
Article 1: Names the parties to the trust:
ERMA M. MARSROW.
Article 2: The Grantors retain the right to revoke the trust at anytime until the death of the first
grantor at which time Trust-B may not be revoked.
Article 3: The Trust is for the grantors benefit during their lifetime with the exception of
Trust-B.
Article 4: The Trustee is authorized to pay all taxes, expenses and administrative costs
associated with either grantor's death.
Article 5: Upon the first grantor's death the trust is divided into two trusts, Trust-A which
qualifies for the unlimited marital deduction and shall also qualify as a Qualified
Terminal Interest Property Trust (Q-TIP) under the 1986 Internal Revenue Code as
amended, and Trust B for any assets which do not qualify for the Unlimited Marital
Deduction. .. Note: This is not a traditional A-B Trust. This Trust is designed as a
Family Trust with all assets held by the Family Trust unless they do not qualify for
the unlimited marital deduction.
Article 6: This alticle provides for the administration and distribution of the unlimited marital
deduction trust known as "Trust-A". The article also provides for the administration and
distribution of the Unified Credit Trust known as "Trust-B".
Article 7: This article provides for the rule against alienation of a trust beneficiary without the
prior written consent of the Trustee.
Article 8: This article specifies the trustee's power which include but are not limited to the
right to retain or transfer real or personal property by deed or other instrument, to
transfer or sell personal or real property at public or private sale, the right to make
investments, the right to borrow, mortgage or pledge trust property for the purposes
of obtaining a loan, the right to manage real estate, the right to enter into any type of
contract including the sale or transfer of real estate.
Article 9: This article provides for the compensation of the trustee.
Page 2 of2 of the Affidavit of Trust for
THE ERMA M. MARSROW REVOCABLE LIVING TRUST
Dated August 11th. 1993
Article 10: This article provides for the miscellaneous administrative provisions of the trust.
Article 11: This article provides for the removal and appointment of Successor Trustees.
Article 12: This article provides for the defInitions of certain verbiage of the trust.
3. The draftsman of this trust dated August 11 th, 1993 was:
Jay Moreland, Esq.,
577 South High Street
Columbus, Ohio 43215
(614) 224-8231
The Undersigned does certify under penalty of perjury of the laws of the State of Ohio, that the foregoing
is a memorandum of the original document signed on the date set forth herein. This memorandum is
dated this .,{,2rL day ofS,6/l7ZM.B~,e 2000 at ..::::::A1.Jl>t1.!kY ,Ohio.
/"~
rAA,,1~1/ /11 >n~ (j->..<C;-
ERMA M. MARSROW Grantor & Trustee
Affiant
State of Ohio: ss
County of Erie: ss
Signed before me a Notary Public in and for said County and State of Ohio, personally appeared
the above named ERMA M. MARSROW who acknowledged that she did sign the foregoing instrument
and that the same is her voluntary act and deed, and done with full knowledge of her actions.
In testimony whereof, I have hereunto set my hand and official seal this
_ --V//#A$LX ,2000.
/02 ~ day of
--?~4t!.C~
/ .. ~. Notary Public
MARY C. RHODE
N'OTARY PUBUC, STATE OF OHiO
__fIN COMMJSSION EXPfAES JUNE 2':', W04
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ORRSTOWN
BANK
A Tradition of Excellence
FEB 0 5 2008
February 1,2008
To: Zullinger - Davis
20 East Burd Street
Suite 6
Shippensburg Pa 17257
From: Traci Shaffer
Orrstown Bank
Customer Service Center
PO BOX 250
Shippensburg, Pa 17257
Re: Estate of Erma M Marsrow
Date of death October 4, 2007
IT IS HERERBY CERTIFIED THAT THE ABOVE NAMED DECEDENT, ON THE
ABOVE DATE, HAD THE FOLLOWING ACCOUNTS WITH ORRSTOWN BANK.
CHECKING ACCOUNT
Account # Title of Account Date opened
102001193 Erma M Marsrow 09/08/03
Mary L Breneman, Trustee
Erma M Marsrow Rev. Living Trust
Principle
2871.02
Accrued Interest
.06
102800054 Erma M Marsrow 09108/03 42568.38 4.66
Mary L Breneman, Trustee
Emla M Marsrow Rev. Living Trust
SA VINGS ACCOUNT
Account # Title of Account
Date opened Principle Accrued Interest
CERTIFICATE OF DEPOSIT
Account # Title of Account Date Opened Principle
4000014510 Erma M Marsrow 12/28/06 54910.87
Mary L Breneman, Trustee
Erma M Marsrow Rev. Living Trust
Accrued Interest
32.86
P.O. Box 250 · Shippensburg, PA 17257 · 717.530.3530 · 717.532.4143 fax
%e BAN K
ofNEWVORK..
August 1, 2006
RE:
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FIRST TRUST INSURED MUNICIPAL BOND OHIO SERIES 52
01397569 13 - '-1'1 \-()
ERMA M MARSROW TR UA 08/11/93 ' ,) .
ERMA M MARS ROW REVOCABLE LIVING TRUST
PA 17257
.A
Erma M. Masrow
CIO Mary L. Breneman
235 Reading Road
Shippensburg
d/o/d
RE:
AlC:
N/O:
OHIO INSURED MUNICIPAL INCOME TRUST SERIES 90
02456027
ERMA M MARSROW TTEE ERMA M MARS ROW REV LIV
TRUST UI A DTD 8/11 ;93
II "ag. w dlojJ
I
Dear Mr. Marsow and Ms. Breneman:
Thank you for your recent address change request.
For the protection of all parties concerned, requests of this nature must contain additional legal
documentation.
We kindly ask that you resubmit your request with the below requirements:
1) The enclosed Address Change Form signed by the Power of Attorney in capacity,
(i.e. Mary L. Breneman Power of Attorney for Erma M. Masrow).
2) An original document appointing the Power of Attorney, dated within 30 days of
presentment or a certified copy of the document appointing the Power of Attorney. You
may use the enclosed form along with a photocopy of the documentation to provide the
certification. The certification must be made by an "eligible guarantor institution"
meeting the requirements of The Bank of New York. These requirements include
membership or participation in one of the following programs:
. Securities Transfer Agents Medallion Program (STAMP)
. Stock Exchanges Medallion Program (SEMP)
. New York Stock Exchange, Inc. Medallion Signature Program (MSP)
P.O. BOX 463. EAST SYRACUSE, NEW YORK 13057 - 0463
/!7Iot;J ~1.'~4 ,7~.Jr
. '{Z' /~ta,
(j IItt! ',r' ,
According to our records, there are one or more outstanding checks on account num~er ' . -/-.!tI ;7/#
01397569. Please include a request to reissue these checks including a payee name and address. 1;;1' Clt/nZi
A form is enclosed for your convenience. fIiIJl1
We trust this information proves helpful. If you have any further questions, please call our
Customer Service Department at (800) 856-8487.
Very truly yours, .;
90Jmu j. fY]~
U JamIe Monarty
Unit Investment Trust
Customer Service Department
EncIs.
Allianz Life Insurance Company of North America
PO Box 59060
Minneapolis, MN 55459-0060
800/950-1962
AlIianz @)
December 14, 2007
ERMA MARSROW REV TRUST
235 READING ROAD
SHIPPENSBURG PA 17257
Re: Erma Marsrow, deceased
Policy Number(s) 3002750 and 3002817
Dear Trustee(s):
We are sorry to hear of your recent loss. Ple~~e asc~pt~ur sy,rnpathie~ ~tthi~ difficult time.
Listed below are the options available tolJl~rn~!~.~:!Q~'-,9!dm~~"~~,~~!i9l~~t~Y
1) Select an Annuity Option Settlement. Receive the Annuitization Value.
2) Select the Lump Sum Distribution. Receive the lump sum Cash Value.
b
These values may increase or decrease depending on external market conditions.
Policy Number Annuitization Value Minimum Payout Period Cash Value
:~002750 $1,939.97 5 $1,657.39
:~002817 $1,939.97 5 $1,657.39
IMPORTANT NOTICE: In accordance with IRS regulation 72T(s), if annuitization is selected, the
first annuity payment must be received within one year from the date of death for non-qualified
funds and by December 31st following year of death for qualified funds. After these dates, the
annuitization option is no longer available.
Please complete and return:
. The Annuity Claim Form completed for the trust and signed by the trustee(s)
. A copy of the certified death certificate (only one copy is required for the deceased)
· An Employer Identification Number (EIN) for the Trust - please visit the IRS website at
www.irs.gov or call 1-800-829-4933 for instructions and/or forms to obtain the ein
. A dated obituary, if available
· A copy of the FirstlTitle and Signature pages of the Trust Agreement for the
trustee/successor trustee designation, and any other pages that may list trustee/successor
trustee(s) information
. The enclosed Trust Affidavit signed by the appropriate trustee(s)
Refer to the Special Instructions Section for specific requirements necessary to process your
claim. Please give this matter your prompt attention and submit your claim paperwork as soon
as possible. Thank you, and again please accept our condolences.
Sincerely,
Cheryl McCollam
Claims Examiner
C: Maryann Cowan #6469