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HomeMy WebLinkAbout05-14-08 ~ Family Settlement Agreement File No. 21-06-1001 THIS is an agreement entered into this I +~day of May, 2008 by and between Sandra J. Buchanan, Beneficiary, of 177 Fairway Terrace, Canton, NC 28716, and Constance L. r-..;! Graber, of 605 Dutch Neck Road, Middletown, DE 19709, Beneficiary and E~trix uiler the Estate of Florence V. Olson, whose names are set forth as signatories at thR ~~ of t. Agreement.:;: "f; r'- -< L;n, - cn ~ .:::- WHEREAS: ;~Q OJ ::=!. ,1 ::x :c A. Florence V. Olson, of Sarah Todd Home, 211 Todd Circle, Carlisle, ~ ""17013 ddd on October 2, 2006. N <_:~;~ B. On December 12, 2006, Letters Testamentary were granted to Constance L. Graber File No. 21-06-1001 in the Register of Wills Office for Cumberland County, Pennsylvania. C. Executrix has administered the estate up until the present time and has paid all debts of the estate, including Inheritance Tax owed. D. Florence V. Olson died testate, thereby vesting all rights and interest in her personal and real property to Constance L. Graber and Sandra J. Buchanan, equally. E. The estate has received assets as set forth in Exhibit A attached hereto and made a part hereof; and has paid debts and expenses as set forth in Exhibit B attached hereto and made a part hereof. F. There remains distribution as set forth in Exhibit C attached hereto and made a part hereof. G. Executrix and Beneficiaries desire to forego a formal accounting and schedule of distribution and desire to conclude the estate by virtue of the filing of this document. NOW, THEREFORE, Executrix and Beneficiaries, intending to be legally bound, state as follows: 1. The Executrix and Beneficiaries agree that the Executrix of the Estate of Florence V. Olson need not file a formal accounting or schedule of distribution. 2. Executrix states that all costs of the estate are paid. 3. The parties agree to distribution of the assets in accordance with Schedule C. 4. The parties agree that this Family Settlement Statement shall be filed with the Clerk of Orphans' Court in final settlement of the estate of Florence V. Olson, subject to the provisions hereof. \ ,~ EXHIBIT A - ASSETS ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH Orrstown Bank Account $19,789.02 Cumberland Crossings Petty Cash Account 161.95 TOTAL ASSETS $19,950.97 EXHIBIT B - DEBTS AND DEDUCTIONS ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES 1. Hetrick Cremation Services $ 36.00 B. ADMINISTRATIVE COSTS 1. Personal Representative Commissions - -0- 2. Attorney Fees - John H. Broujos 975.00 3. Family Exemption - 0- 4. Register of Wills - Probate Fees 119.00 C. MISCEllANEOUS EXPENSES 1. Register of Wills - Inventory 10.00 2. Register of Wills - Inheritance Tax Return 15.00 3. Register of Wills - Final Settlement Statement 17.00 D. MISCELLANEOUS DEBTS 1. Cumberland Crossings - care 679.50 2. Postage to send documents 6.30 3. Continuing Car Rx 201.62 E. INHERITANCE TAX 2720.19 TOTAL DEBTS AND DEDUCTIONS $4,779.61 EXHIBIT C - DISTRIBUTION Balance for Distribution Prior Partial Distribution~: .... {l' Balance in Bank $19,950.97 4.779.61 $15,171.36 '\ ,\..:-"~' ~~~~' '-'> ~ Assets Debts and Deductions Balance on Legal Fees: Pay to John H. Broujos $100.00 <:J.~\{f' One half of balance of funds remaining in estate account for distribution to beneficiaries by Executrix. Signing of this agreement constitutes acceptance of beneficiary shares and a release of any claim. IN WITNESS WHEREOF, Executrix and Beneficiaries, intending to be legally bound, hereby set their hands and seals the day and year first above written. WITNESS: 1.. r!onJiD/n,Cu ~ - jj IU'<-b-GI\J Constance L. Graber, Executrix and Beneficiary Sandra J. Buchanan, Beneficiary Attachment: Copy of Will IN WITNESS WHEREOF, Executrix and Beneficiaries, intending to be legally bound, hereby set their hands and seals the day and year first above written. WITNESS: Constance L. Graber, Executrix and Bene ciary Attachment: Copy of Will Will I, Florence V. Olson, of Sarah Todd Home, 211 Todd Circle, Carlisle, Cumberland County, Pennsylvania, declare this to be my last will and revoke any will previously made by me. Item One: I direct that all my debts and funeral expenses including my grave marker shall be paid from my residuary estate as soon as practicable after my decease as a part of the expense of the administration of my estate. I direct that my remains be cremated with my ashes delivered to my Executrix. Item Two: I give, devise, and bequeath my entire estate to my niece Constance L. Graber and my niece Sandra J. Buchanan, equally, share and share alike, per stirpes. Item Three: I appoint my niece Sandra J. Buchanan, of 177 Fairway Terrace, Canton, NC 28716, Executrix of this my last will. Should she fail to qualify or cease to act as Executrix, I appoint my niece Constance L. Graber, of 605 Dutch Neck Road, Middletown, Delaware 19709, to act as Executrix with the same rights, powers, and duties. Item Four: All estate, inheritance, succession, and other taxes, imposed or payable by reason of my death, and interest and penalties thereon, with respect to all property comprising my gross estate for tax purposes, whether or not such property passes under this will, shall be paid out of the principal of my residuary estate, without apportionment or right of reimbursement. Item Five: I direct that my personal representative or guardian shall not be required to give bond for the faithful performance of their duties in any jurisdiction. Item Six: In addition to the rights and powers given to the fiduciaries by law or elsewhere in this will, I give to my Executor during the full time necessary for the administration of my estate the following rights and powers to be exercised in his or her sole discretion. A. To retain any real or personal property which may at any time form a part of my estate so long as he or she deems it advisable. B. To invest in any real or personal property without restrictions as to legal investments. C. To repair, alter, improve or lease for any period of time any real or personal property and to give options for leases. D. To sell at public or private sale, for cash or credit, with or without security, to exchange or to partition, to mortgage or pledge real or personal property, and to give options for leases. E. To make distribution in kind. F. To compromise claims. IN WITNESS WHEREOF, I have hereunto set my hand this 17th day of February, 2004. Signed J-~bU' U. Ce.OA../t-yL Florence V. Olson The preceding instrument, consisting of this and two other typewritten pages each identified by the signature of the Testatrix was on the day and date thereof signed, published and declared by the Testatrix therein named as and for her last will, in the presence of us, who at her request, in her presence and in the presence of each other have subscribed n es. COMMONWEALTH OF PENNSYLVANIA ss COUNTY OF CUMBERLAND We, John H. Broujos and --:::JOt S i e --r 1, ' witnesses whose names are signed to the attached or foregoing instrument being duly qtialified according to law, do depose and say that we were present and saw the Testatrix sign and execute the instrument as her last will; that she signed willingly and 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 wit that to the best of our knowledge, the Testatrix was at the time 18 or more y s ~e, 0 ound min d under no constraint or undue influence. Sworn and subscribed to before me this 17th day of February, 2004. ~7lf.~ TARY PUBLI NOTARIAL SEAL JANET II. ~ NOTARY PUBlIC CARlISLE BORO. CUMBERLAND COUNtY MY COMMISSION EXPIRE'S JUNE 26 2007 COMMONWEALTH OF PENNSYL VANIA : ss COUNTY OF CUMBERLAND I, Florence V. Olson, whose name is signed to the attached document, having been duly qualified according to law, do hereby acknowledge 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. .J/~ ~ ~J~/ Florence V. Olson, Testatrix Sworn and affirmed to and acknowledged before me this 17th day of February, 2004. q/t4f-d. YH. XIUj.q NOTARY PUBLIC - IOTARIAl SEAL -- -: MEr II.I.A'( NOTARY PU8IJC - -CARlISLE IORO, CUMBERLMD COUN1Y JIY COMMISSION EXPIRES JUNE 28. 2007 " ~, . , .. .; . '-; ;t..',.." .. . '. ., ~