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HomeMy WebLinkAbout06-02-08 IN THE COURT of COMMON PLEAS, CUMBERLAND COUNTY, PENNSYLVANIA, ORPHANS COURT DIVISION No. 2006-00511 a ~g l;'P '"0 m~(") S; r0- m -::0 """(/):;;:O;;: 0>:<0 8e::" ~ ::0 }~!.~ ,...., c:::> = CD (.... c: :z: l N .." :x N .. THE EST A TE of JOHN N. MOWER LATE of THE BOROUGH of MECHANICS BURG, CUMBERLAND COUNTY, PENNSYLVANIA FAMILY AGREEMENT, WAIVER of ACCOUNTING and FINAL RELEASE ~I -l This Agreement entered into this /- day of ..J ~ , 2008, by PHYLLIS L. BAUMGARDENR his named Executrix, the sister of the decedent and his only named and lawful heir under his will probated before the Cumberland County Register of Wills on June 9, 2006 with Letters Testamentary issued to the above Docket, being the residuary legatees of this Estate. For purposes of this Agreement, the term "Executrix" is used when PHYLLIS L. BAUMGARDNER is referred to in her fiduciary capacity and the term" Legatees" or the individual legatee's first name shall be used otherwise. Background 1. John N. Mower (hereinafter "Decedent"), died June 4, 2006, a resident of Mechanicsburg Borough, Cumberland County, Pennsylvania, leaving a will dated January 26, 1981. 2. Decedent's will was admitted to probate by the Register of Wills of Cumberland County on June 9, 2006 and Letters Testamentary were issued to Phyllis L. Baumgardner as Executrix. 3. The Executrix advertised the grant of Letters Testamentary, prepared and filed an Inventory of Decedent's property and prepared and filed a Pennsylvania Inheritance Tax Return and federal and state income tax returns. (..) \D . ~.J~ ~;:"i 4. The Executrix has paid all the taxes and has received a tax clearance statement from the Pennsylvania Department of Revenue, Inheritance Tax Division. To Executrix's and Legatees' knowledge and belief, no further unpaid claims exist against the Estate, absolute or contingent, upon which any action may be asserted 5. The Executrix has completed her administration of the Estate. The Decedent's Estate's assets were in large majority investment instruments. 6. The Estate Inventory, filed May 21,2007, at the Office of the Register of Wills of Cumberland County, is attached hereto, as Exhibit "A" which accurately reflects the value of all Estate assets at the date of Decedent's demise. Agreement IN CONSIDERATION of the willingness of the Executrix to terminate the Estate in accordance with the terms of the will with the protection afforded her by formal adjudication of an Executrix's account, PHYLLIS L. BAUMGARDNER, the undersigned sole beneficiary, individually and respect to her heirs, personal representatives, successors and assigns, do hereby: 1. Acknowledge that I have read this Agreement and represent that the facts set forth above are true and correct to the best of my knowledge, information and belief. I further acknowledge that I am familiar with all terms of the will and were provided by a true and correct copy of the probated will by Executrix; 2. Waive the filing of a formal account of the administration of this Estate, with respect to income and principal thereof, in any Court which may have jurisdiction, and, in particular, the Court of Common Pleas, Orphan's Division, Cumberland County, Pennsylvania; 3. Declare that I have examined the Inventory attached hereto and all other accounts and statements relative to the assets of this Estate, and find them true and correct in all particulars; understand that all administration costs and attorney fees have been paid; accept and approve these distributions and payments as if it had been prepared, submitted and fully audited, adjudicated and confirmed absolutely by such court which may have jurisdiction over this Estate; and as if, the balance of principal and income had been awarded by said Court in accordance with this Agreement and the Inventory; 4. Warrant that I know of no outstanding and unpaid claims against the Estate and approve the distribution of the balance of principal and income on the attached Inventory as set forth above; 5 Absolutely and irrevocably release and discharge Phyllis L. Baumgardner, Executrix of the Estate, her personal representatives, heirs, successors and assigns, from any and all actions, liabilities, claims, and demands, including specifically, but not limited to, liability arising in connection with any mistake of fact or law, or negligent or careless act or omission, in connection with the administration of the Estate and distribution of assets shown in the Inventory, without a formal court hearing and adjudication; 6. Agree to refund to the Executrix such part or all of the distributive share which has been distributed which may at any time be determined to have been an erroneous distribution regardless of the cause of such error, even if attributable to negligence; 7. Agree that any period of Limitation of actions for the collection of any erroneous distribution shall commence only at such time as Executrix has obtained actual knowledge of such erroneous distribution and that, in no event, shall the obligation to collect any erroneous distribution start earlier than the actual discovery thereof by Executrix; 8. With respect to any distributions of income or principal, upon execution of this Agreement, agree to indemnify and hold harmless the Executrix, her personal representatives, heirs, successors and assigns, from any liability, loss or expense (including, but not limited to, attorney's fees), arising from any cause whatsoever, which may be incurred by the Executrix as a result of the administration of these Estate or distribution in accordance to this Agreement including, but not limited to, any liability for federal estate tax, Pennsylvania Inheritance tax, or other estate taxes and any federal or state income taxes, together with any interest or costs incidental thereto, relating in way to the Estate and also including, but not limited to, any assets, received or payments or distributions made by reason of any negligence or mistake of fact or law; 9. Understand that this Agreement may be signed in counterpart originals, all of which together shall be deemed to constitute one original; and 10. Agree that this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. IN WITNESS WEREOF, we ~ to be bound hereby and have signed this Agreement this l- day of -:) f .u...~, 2008. Wimess: ~owL In re: Estate of John N. Mower, Decedent IN THE COURT of COMMON PLEAS ORPHANS DNISION, CUMBERLAND COUNTY, PENNSYLVANIA No. 2106-0511 Decree AND NOW, this day of ,2008 upon due consideration of the Petition of the above Estate's Executrix, Phyllis L. Baumgardner, by and through her attorney, John M. Glace, Esquire, it is hereby ORDERED and DECREED that, pursuant to Family Agreement the Estate shall be deemed settled and that Phyllis L. Baumgardner, Executrix, shall be hereby discharged from her duties as Executrix and she is released from future liability as Executrix. BY THE COURT, REV-1502 EX+ (6-98) . COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE A REAL ESTATE ESTATE OF ,JOHN N MOWER FILE NUMBER 2106-0511 All real property owned solely or as a tenant In common must be reported at 'air market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property which Is Jointly-owned with rIght of S,urvlvorshlp must be disclosed on Schedule F. ITEM NUMBER 1. DESCRIPTION VALUE AT DATE OF DEATH Two bedroom condominium located at 128 W. Portland Ave. Mechanicsburg, PA 17055 $74,500.00 TOTAL (Also enter on line 1, Recapitulation) $ 74 , 500 . 00 (If more space is needed, insert additional sheets of the same size) ~Q'~,- COMMONWEAlTH OF PENNSYLVANIA INHERITANCE TAX RETURN 51 NT ~ SCHEDULE B STOCKS & BONDS ESTATEOF 21-06-0511 John N. Mower FILE NUMBER AI property jolntly~.ah right of IUMvOrshlp must be disclosed on Schedule F. ITEM . NUMBER 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 47. 15.00 200.00 50.00 400.00 1,900.00 100.00 100.00 73.00 400.00 340.00 194.00 60.00 100.00 100.00 100.00 26.00 300.00 42.00 40.00 2,490.00 200.00 1,200.00 100.0-0 400.00 200.00 700.00 100.00 1,000.00 100.00 137.00 100~00 200.00 50.00 200.00 100.00 1,200.00 50.00 100.00 4,000.00 235.00 5,000.00 129.00 100.00 2,150.00 47.00 5.00 1,000.00 -VALUE AT DATE OF DEATH ~219.00 1,651.00 593.75 15,136.00 65,635.50 7,136.00 4,526.00 4,903.78 28,428.00 12,726.20 6,414.61 2,952.90 2,016.00 2,902.50 5,201.50 1,703.42 3 , 80,,2 .50 642.60 1,792.00 82,656.00 16,510.00 67,344.00 960.50 31,716.00 3,961.00 30,562.00 5,169.00 2,540.00 5,230.50 9,897.57 2,263.00 28,007.00 1,919.25 19,986.00 1,400.50 46,224.00 2,678.25 6,468.50 122,020.00 5,857.38 23,875.00 2,845.10 6,961.50 57,329.75 1,150.80 .04 27,400.00 DESCRIPTION Shares AGR AHO AV BAX BLS BP BUD CAH CAT CBRL CMCSA CMX CSCO CVS DCX DEG EMC EP EW GE HSC HSY HT . IBM JLG KO LLY LU MET MO MSFT NC NCR NOC ORCL PENN PG PPG PPL PTV RAD SOY SUN T TEN TFRY TYC " " " " " " " " " " " " " II II " " II " " " " " " II TOTAL (Also enter on Une 2, Recapitulation) $ (If more space is needed. insert additional sheets of the same size) REV-15113 Ex + (1-97) SCHEDULE B STOCKS & BONDS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE Of JOH~ ~ MOWER FILE NUMBER 2'106-0511 All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 48. 400.00 Shares UGI $9,618.00 49. 100.00 " UPS 8,033.00 50. 1,134.00 " VVC 30,459.24 5l. 1,332.00 " VZ 42,284.34 52. 100.00 " WMK 4,132.50 53. 200.00 " WMT 9,502.00 54. 50.00 " XOM 3,042.50 55. 100.00 XRX 1,388.50 56. 7.89 BLS 266.44 57. 187.75 GE 6,370.35 58. 1,877.08 FKUTX 22,937.91 59. 9.74 P~C 621.07 60. 52.39 MSFT 1,157.82 TOTAL (Also enter on line 2, Recapitulation) $ 9 1 9 , 411 . 57 (If more space is needed. insert additional sheets of the same size) ~'~..~* COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIOEm" DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF JOHN N MOWER FILE NUMBER 2106-0511 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jolntly-owned with the right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. 2. 3. 4. 5. Misc. home furnature, sold at auction. Guns Mise home furnishings 1998 (?) Lincoln IRA fixtures and other items $442.00 1,225.00 1,725.00 5,900.00 36,441.00 TOTAL (Also enter on line 5, Recapitulation) $ 44 508 00 I . (If more space is needed, insert additional sheets of the same size) REV-I509 EX. (1-2'1 SCHEDULE F JOINTLY-OWNED PROPERTY COMMONWEALTH OF PENNSYi..VANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF JOHN N MOWER FILE NUMBER 2106-0511 If an asset was made joint within one year of the decedenfs date of death,lt must be reported on Schedule G. SURVIVING JOINT TENANT(S) NAME ADDRESS RELATIONSHIP TO DECEDENT A. PHYLLIS L BAUMGARDNER 508 BRIGHTON PLACE MECHANICSBURG, PA 17055 SISTER B. c. JOINTLY-OWNEO PROPERTY: lETTER DATE DESCRIPTION OF PROPERTY %OF DATE OF DEATH ITEM FOR JOil'IT MADE Include name of financial institution and bank account number or similar idenlilying number. Attach DATE OF DEATH DECO'S VALUE OF NUMBER TENANT JOINT deed for joinUy-held real estate. VALUE OF ASSET INTEREST DECEDENT'S INTEREST 1. A. 1995 Members 1st Federal Credit Union $214,128.58 50 $107,064. Acct # 36 2. Citizen'S Bank 8,442.63 50 4,221. Acct.# 610089-425-8 TOT AL\(Also enter on line 6, Recapitulation) $111,285.60 2S 31 (If more space is needed, insert additional sheets of the same size)