HomeMy WebLinkAbout05-30-08 (2)
FAMILY AGREEMENT
THIS AGREEMENT, made as of this 2.1 day of MAY , 2008, by
and between Linda L. Zentz, individually, party of the first part,
and Gerald E. Smith, Jr., party of the second part, as Executor of
the Estate of Terry L. Zentz, deceased, late of Lower Allen
Township, Cumberland County, Pennsylvania.
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WITNESSETH: C) =
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Linda L. Zentz, individually and Gerald E. Smith;):::~~, =::
Executor of Terry L. Zentz estate, deceased, intendinifJ:t.Qj bew
legally bound hereby, promise, declare and agree as ~Q~iBWs:C)
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1. The said Terry L. Zentz died a married man on MarchgS, :Jr.
2008, leaving a Last Will and Testament. ::.u --;
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2. The said Last Will and Testament dated November 26, 2007~
was probated by the Register of Wills of Cumberland County,
Pennsylvania, on April 9, 2008, which Will is hereby referred to
and made part hereof by reference. Letters Testamentary were
issued by the Register of Wills of Cumberland County,
Pennsylvania to Gerald E. Smith, Jr., as Executor, one of the
Parties hereto. Wherein the said Terry L. Zentz devised his
entire estate to Linda L. Zentz, his widow who is now living and
party hereto.
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3. The said Letters Testamentary on the Estate of Terry L.
Zentz were not advertised as provided by law.
4. Linda L. Zentz individually, acknowledges that she fully
knows the benefits and advantages as against unpaid creditors
provided by advertising the Estate as provided by law and the
filing of a First and Final Account with Register of Wills and
adjudication of the account by the Orphans Court as compared to
Family Agreement.
S. A State Inheritance Tax Return was filed on May ~l 2008 with
the Register of Wills of Cumberland County and no Inheritance Tax
is due as his sole beneficiary is his widow.
6. Linda L. Zentz desires and agrees to finally and
permanently settle her respective interest in the Estate of Terry
L. Zentz as sole beneficiary without the formalities of the
filing of a First and Final Account and the Adjudication by
Orphans Court thereof and have distributed the assets of the said
Estate as herein set forth.
7. Following are joint assets of decedent with Linda L. Zentz,
Decedent's surviving spouse, to wit:
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Decedent's surviving spouse, to wit
SCHEDULE J
NON-TAXABLE DISTRIBUTIONS:
1. Integrity Bank #203012122-Joint Checking
2. Integrity Bank #403005647-Joint Savings
3. Wells Fargo ING Direct - Joint
4. Wells Fargo PMA Account - Joint
5. Wells Fargo Savings - Joint
6. Wells Fargo PMA Checking - Joint
7. Payroll Check from Planit Solutions Inc.
8. Check from Wawanesa - Auto Insurance Refund
9. 2006 Dodge Grand Caravan Auto - Joint
10. House & Lot-20 Grinnel Drive, Lower Allen
Township, Cumberland County, PA - Joint
11. Household Furnishings - Joint
TOTAL
$24,954.19
$ 3,819.08
$40,092.10
$42,177.70
$ 3,001.01
$ 538.55
$ 4,680.00
$ 255.00
$19,350.00
$175,000.00
$ 6,000.00
$313,867.63
8. Linda L. Zentz agrees that the deficit be paid out of
joint assets.
9. Linda L. Zentz hereby accepts, approves and agrees that the
said accounting of the assets, liabilities shall have the same
force and effect as if a First and Final Account has been filed
in the office of the Register of Wills of Cumberland County and
adjudicated by Orphans Court and confirmed absolutely by the
Court of Cornmon Pleas of Cumberland County, Pennsylvania,
Orphan's Court Division.
10. There are no liabilities of the Terry L. Zentz Estate known
except those herein set forth and any Inheritance Tax that my be
determined to be due but not expected.
11. Linda L. Zentz, individually, hereby releases the said Gerald
E. Smith, Jr., Executor of the Estate of Terry L. Zentz,
deceased, of and from any and all claims known or unknown to her
which she has against the said Estate and against the said Gerald
E. Smith Jr., acting as Executor of the said Estate.
12. This is the entire agreement between the Parties hereto,
acting in separate capacities and shall be binding upon Linda L.
Zentz, her heirs, assigns successors in both capacities.
13. The following is a final accounting of decedent's Estate:
2
ASSETS
l.
2.
Payroll Check from Planit Solutions Inc.
Check - Wawanesa Insurance refund
$ 4,680.00
$ 255.00
$ 4,935.00
TOTAL
DEBTS
l. Parthemore Funeral Home $ 6,340.00
2. Attorney Fees $ 3,000.00
3. Family exemption, Linda L. Zentz $ 3,500.00
4. Probate Fees $ 107.00
5. Register of Wills - File Tax Return $ 15.00
6. Register of Wills - Reserve to file
Family Agreement $ 25.00
TOTAL $12,987.00
RECAP I 'l'ULAT ION
DEFICIT
$ 4,935.00
$12,987.00
- 8,052.00
TOTAL ASSETS
LESS TOTAL DEBTS
NET BALANCE FOR DIS'l'RIBO'1'ION (DEFICIT ESTATE)
-0-
IN WITNESS WHEREOF, the parties hereto
their hands and seals this ~\ day of
have hereunto set
tv'A'i ,2008
ESTATE OF Terry L. Zentz
BY: J\f1I1(\ .J..A~.
~t...~1 (SEAL)
Gerald E. Smit , Jr.
Executor
WITNESS:
WITNESS:
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Linda . S~
Sole Beneficiary
(SEAL)
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Commonwealth of Pennsylvania
:ss
County of Cumberland
ON THIS, THE ~~DAY OF ~~ 2008 before me, the undersigned
officer, personally appeared Linda L. Zentz who acknowledged
herself to be the Individual - Sole Beneficiary under the Last
Will and Testament of Terry L. Zentz, and Gerald E. Smith, Jr.
Executor, executed the foregoing Instrument for the purposes
therein contained. ((?~n. . _
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My Commission Expires: (- r Cf-oq
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Robert E. Myers, Notary Public
FairviewTwp.. Yor1<County
My Commission Expires Jan. 19, 2009
Member, Pennsvtvflnia Association of Notaries
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