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IN RE: : IN THE COURT OF COMMON PLEAS
ESTATE OF WARREN F. MOGEL, :CUMBERLAND COUNTY,
DECEASED :PENNSYLVANIA
ORPHANS' COURT DIVISION
No. 0368 Year 2005
FAMILY SETTLEMENT AGREEMENT ~? r='
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THIS AGREEMENT, dated this 14t'' day of April, 2008, ~ ~- ~ '~''
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I. THE CIRCUMSTANCES leading up to the execution of this Agreement {$~-re
as follows:
1. Warren F. Mogel (the "Decedent") died testate on March 31, 2005, a
domiciliary of Cumberland County, Pennsylvania.
2. The Decedent was survived by his wife, Jean L. Mogel; three children,
namely, Robert W. Mogel ("Robert"), Todd S. Mogel ("Todd") and Jill E. Morell
("Jill"); and, various grandchildren.
3. On April 20, 2005, Todd and Jill submitted for probate the Decedent's
Last Will and Testament, dated December 19, 1996, (the "Will") to the Register of
Wills of Cumberland County, Pennsylvania (the "Register"). At that time, the
Register granted Letters Testamentary to Todd and Jill, who duly qualified as
Executors of the Decedent's probate estate. A true and correct copy of the Will is
attached hereto as Exhibit "A," and is incorporated herein by reference.
4. Pursuant to Item I of the Will, the Decedent bequeathed his tangible
personal property to Jean.
5. Pursuant to Item II of the Will, the Decedent bequeathed the balance
of his probate estate to the Trustees of Trust created under that certain Agreement
of Trust which the Decedent signed and dated December 19, 1996, and thereafter
amended on January 9, 2002 (collectively, the "Trust Agreement"). Pursuant to
Paragraph 22 of the Trust Agreement, the Decedent, during his lifetime, could
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amend and/or revoke the Trust Agreement in whole or in part. A true and correct
copy of the Trust Agreement is attached hereto as Exhibit "B," and is incorporated
herein by reference.
6. The Decedent was the sole Trustee of the Trust from December 19,
1999 through March 31, 2005. Pursuant to Paragraph 19 of the Trust Agreement,
Todd and Jill (collectively, the "Trustee") became the Trustees of the Trust upon the
death of the Decedent.
7. Pursuant to Paragraph 2 of the Trust Agreement, upon the death of
the Decedent, "[a]11 the rest, reside and remainder of the Trust property shall be
paid and/or distributed to ... Jean, subject to Jean's right to disclaim, as follows:".
8. Pursuant to Paragraph 5 of the Trust Agreement, the Trustee is
directed to hold that amount not disclaimed by Jean, in a remainder trust, for the
following purposes:
(a) to pay the income of the Trust to Jean in, at least, quarter-annual
installments;
(b) to pay principal of the Trust to Jean, as the Trustee, in the
Trustee's discretion, determines is reasonably necessary to permit
Jean to maintain her ususal and normal standard of living or to meet
the costs of any illness or accident which may affect her; and,
(c) upon the death of Jean:
(i) to pay the Executors of Jean's Estate the accrued but
undistributed income of the Trust and any death taxes payable
by reason of the inclusion of part or all of the Trust property in
Jean L. Mogel's estate; and,
(ii) to pay then remaining trust property to Robert, Todd, and
Jill, per stirpes.
9. The Decedent, individually, owned stock in PNC Financial Services
Group, Inc. (the "Stock") which was held in certificate form. The Decedent also held
in an investment account with Oppenheimer cash and a mutual fund known as
Seligam New Tech Fund, Inc. The Stock is the primary asset of the Decedent's
probate estate.
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10. The Decedent owed $19,984.98 to Brookside Mobile Home Park, Inc.
(the "Corporation") (the "Loan"). There is no Promissory Note or collateral for this
Loan. However, the Loan is carried on the books of the Corporation.
11. The property of the Trust consisted of encumbered, unimproved real
property commonly known as 7920 Chapel Hill Road, Spring Township, Berks
County, Pennsylvania (the "Real Estate") and 5 units (or, a .0083333% interest) in a
limited partnership known First Capital Institutional Real Estate, LTD. The Real
Estate appraised at $550,000 for death tax purposes. The face value of the
Mortgage was $92,054.45. It is thought the above described limited partnership
interest has little or no value.
12. The Executors and Trustee retained the law firm of Rupp and Meikle
to assist them with the estate and trust administrations. Herbert G. Rupp, Esq.
became ill, and was admitted to a nursing home. His son, Richard C. Rupp, Esq.,
assumed legal representation of the Executors and Trustee. Nevertheless, Richard
C. Rupp, Esq. failed to effectively assist the Executors and Trustee in their fiduciary
duties and failed to timely deliver the estate and trust files to the Executors and
Trustee after being notified that his services were terminated.
13. Upon receiving and reviewing the files the firm of Rupp and Meikle
delivered to the Executors and Trustee, the Executors promptly filed the
Pennsylvania Inheritance Tax Return, which, by then, was significantly delinquent.
Therefore, the Executors elected to defer the Pennsylvania Inheritance Tax on the
Decedent's Trust until the death of Jean. The Commonwealth of Pennsylvania has
accepted the Pennsylvania Inheritance Tax Return as filed. A true and correct copy
of the Commonwealth's Appraisement/Assessment of Pennsylvania Inheritance Tax
is attached hereto as Exhibit "C," and is incorporated herein by reference.
14. The Executors have sold some of the Stock in order to satisfy the
Decedent's debts and funeral expenses, estate administration expenses, the
Pennsylvania Inheritance Tax due on transfers the Decedent made within 1 year of
his death, and in order to make interim cash distributions to the Trust.
15. The Trustee has made income distributions to Jean. The Trustee has
also made discretionary principal distributions to Jean, which the Trustee
determined were reasonably necessary to permit Jean to maintain her ususal and
normal standard of living.
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16. On June 8, 2006, the Trustee entered into a Sales Agreement with Jed
C. Kerns and Vicki C. Kerns (the "Kerns") concerning the subdivision of the Real
Estate and the sale of approximately 13 acres more or less to the Kerns for the sum
of $250,000. The Trustee agreed to pay one-half of such subdivision costs as
percolation and probe tests necessary for the installation of on lot sewage systems,
surveys cots and township fees, provided the same did not exceed $20,000.
17. In and around October 2006, the Trustee timbered the Real Estate,
and received $20,410 from Weaber Incorporated in exchanged thereof. The Trustee
used $19,513.30 of the sale proceeds to pay for road improvements Spring Township
required for subdivision approval.
18. In and around October/November of 2007, Spring Township approved
the proposed subdivision of the Real Property, creating 7 lots.
19. On November 30, 2007, the Trustee sold a portion of the Real Estate (4
lots) to the Kerns; paid $20,000 for the above described subdivision costs; paid
$2,500 in realty transfer taxes; paid $17,500 in realtor commissions; paid
approximately $640.00 in miscellaneous settlement charges; and, satisfied, in full,
the mortgage on the Real Estate ($92,054.45). The Trustee also paid about
$9,600.00 to Berks County Tax Claim Bureau in rollback taxes for rescinding the
Clean and Green covenant on the Real Estate.
20. The fair market value of the remaining Stock has declined over the
last several months due to market conditions. The Executors and Trustee do not
wish the Executors to sell the remaining Stock in order to satisfy the Loan and the
remaining estate administration expenses. The Trustee is willing to pay the Loan
and the remaining estate administration expenses in exchange for receiving the
remaining Stock.
21. The Executors have prepared a First and Final Account of their
administration of the Decedent's probate estate for the period beginning March 31,
2005 and ending February 29, 2009 (the "Executors' Account") in order to disclose
their fiduciary transactions during the accounting period. A true and correct copy of
the Executors' Account is attached hereto as Exhibit "D," and is incorporated herein
by reference.
22. The Executors are willing to finalize the estate administration without
the delay, formality and cost of a court confirmed accounting and to distribute the
remaining assets as set forth on the proposed Schedule of Distribution, provided
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Jean, Robert, Todd and Jill provide the Executors with satisfactory release,
refunding and indemnification protections. A true and correct copy of the Schedule
of Distribution is attached hereto as Exhibit "E," and is incorporated herein by
reference.
23. The Trustee has prepared a First and Interim Account of their
administration of the Trust for the period beginning March 31, 2005 and ending
March 31, 2008 (the "Trustee's First Interim Account") in order to disclose their
fiduciary transactions during the accounting period. A true and correct copy of the
Trustee's Interim Account is attached hereto as Exhibit "F," and is incorporated
herein by reference.
24. The Trustee is willing to pay the Decedent's Loan and the remaining
estate administration expenses (including, but not limited to attorneys' fees) and to
accept the remaining Stock and estate assets without the formality and cost of a
court confirmed accounting provided Jean, Robert, Todd and Jill provide the
Trustee with satisfactory release, refunding, and indemnification protections.
NOW THEREFORE, in consideration of the foregoing, and intending to be
legally bound hereby, Jean, Robert, Todd, and Jill, individually and severally, but
not jointly, as the present and remainder beneficiaries of the Decedent's Trust, for
themselves, their heirs, personal representatives, successors, and assigns, hereby do
as follows, to wit:
A. Represent, warrant and agree that they:
(i) Have read and understand this Agreement and confirm the fact set
forth above are true, correct and complete to the best of their
knowledge, information and belief, and hereby approve the same for all
purposes;
(ii) Acknowledges that they sought the advice of an attorney, prior to
executing this Agreement or have voluntarily chosen not to consult
with an attorney;
(iii) Have entered into this Agreement of their own free will and choice
without any compulsion, duress or undue influence from anyone.
B. Declare that they have had the opportunity to examine the Executors'
Account and the Trustee's First Interim Account, which are attached
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here to as Exhibit "D" and "F", an incorporated herein by reference,
and based upon such examination (or their decision not to make such
an examination), they are satisfied that they have sufficient
information to make an informed waiver of their right to formal
accountings and do hereby waive the filing and auditing of the same.
C. Approve the Trustee's payment of the remaining estate administration
expenses and Loan.
D. Approve the Executors' Account, including but not limited to the
interim income and principal distributions to the Trust as set forth
therein, examined or not, as if the same had been duly filed with and
audited, adjudicated and confirmed absolutely by the Orphans' Court
Division of the Court of Common Pleas of Cumberland County,
Pennsylvania (the "Court").
E. Approve the Executors' Schedule of Distribution, which is attached
hereto as Exhibit "E," and incorporated herein by reference; direct the
Trustee to pay the Loan and the remaining estate administration
expenses; and, direct the Executor to distribute the remaining Stock
and cash to the Trustee in accordance therewith.
F. Approve the Trustee's First Interim Account (including, but not limited
to, the income and principal distributions to Jean, the sale of timber,
the subdivision of the Real Estate and all the costs associated
therewith, and the above described sale of a portion of the Real Estate
to the Kerns) examined or not, as if the same had been duly filed with
and audited, adjudicated and confirmed absolutely by the Court.
G. To the extent of the distributions set forth in the Executors' Account,
the Schedule of Distributions, and the Trustee's First and Interim
Account, absolutely, unconditionally and irrevocable release, remise
and forever discharge Todd and Jill, individually, and in their
fiduciary capacities as Executors of the Decedent's probate estate and
as Trustee of the Decedent's Trust, from any and all manner of action,
causes of action, suits, liens, debts, dues, sums of money, accounts,
reckonings, bonds, bills, covenants, contracts, controversies,
agreements, promises, claims, demands, losses and expenses
whatsoever, in any way arising from or concerning the Decedent's
probate estate and the Decedent's Trust, including any and all
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expenditures and distributions made in accordance with the Executors'
Account and Schedule of Distribution and the Trustee's First and
Interim Account, or otherwise in accordance with this Agreement.
H. To the extent of the distributions set forth in the Executors' Account,
the Schedule of Distributions, and the Trustee's First and Interim
Account, agree to indemnify and hold harmless Todd and Jill,
individually, and in the fiduciary capacities set forth above, with
respect to any and all matters or liabilities which they may be
subjected by reason of joining in this Agreement, and in carrying out
the provision hereof.
I. Agree this Agreement is intended to compromise and settle disputed
claims, including, without limitations, claims and defenses asserted in
connection with the creation, administration and distribution of the
Decedent's probate estate and the Decedent's Trust or either of them.
J. Agree that this Agreement constitutes the entire understanding
between the Executors, Trustee, Jean, Robert, Todd, and Jill
(individually and collectively, the "Parties") concerning the subject
matter hereof, and supersedes any and all prior written agreements
and any and all prior or contemporaneous oral agreements or
understanding relating to the subject matter hereof.
K. Agree that this Agreement may not be amended, modified, superseded,
canceled, renewed or extended, nor may any term or condition hereof
be waived, except by a written instrument or document signed by all
the parties hereto or, in the case of a waiver, signed by the party
sought to be charged therewith. No waiver by any party of the breach
of any provision hereof shall be deemed to constitute a waiver of any
continuing or subsequent breach of such provision or any other
provision hereof. Except as otherwise provided herein, the rights and
remedies expressly granted hereunder shall be cumulative with
respect to, and shall not be deemed to exclude, any other rights and
remedies to which any party shall be entitled at law or in equity.
L. Agree that this Agreement shall be binding upon and inure to the
benefit of the Parties and their respective heirs, successors, assigns,
personal representatives, and those who may hereafter claim through
any of the Parties.
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M. Pursuant to 20 Pa.C.S. §3504, in the event of any litigation concerning
this Agreement, the Court shall be requested to waive appointment of
a guardian and/or trustee ad Iltem to represent the interest of any
minor, unborn or unascertained beneficiaries.
N. Agree that this Agreement shall be governed by and construed in
accordance with the laws of the Commonwealth of Pennsylvania,
without regard to choice-of--law provisions. The Court shall have
exclusive jurisdiction over any action to enforce or interpret the terms
of this Agreement. Jean, Robert, Todd, and Jill hereby consent to the
Court exercising personal jurisdiction over each of them in any action
or suit arising out of the enforcement of this Agreement.
O. Agree that any references to person or things shall be deemed to refer
to such persons or things in the singular or plural and in the
masculine, feminine or neuter gender as the context shall require.
P. Agree that this Agreement shall be deemed to be severable, so that if
any provision hereof shall be determined by a court of competent
jurisdiction to be invalid or unenforceable, the remaining provisions
hereof shall continue to remain valid and enforceable in accordance
with their terms.
Q. Agree that this Agreement may be executed in multiple counterparts,
each of which may contain the signatures of one or more of the Parties,
all of which, taken together, shall constitute one and the same
document.
IN WITNESS WHEREOF, the Parties have placed their hands and seals on
the attached Consents to Family Settlement Agreement, with the same to be
effective for all purposes as the date first above written.
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IN RE: : IN THE COURT OF COMMON PLEAS
ESTATE OF WARREN F. MOGEL, :CUMBERLAND COUNTY,
DECEASED :PENNSYLVANIA
ORPHANS' COURT DIVISION
No. 0368 Year 2005
CONSENT TO FAMILY SETTLEMENT AGREEMENT
TODD S. MOGEL, individually and in his fiduciary capacities set forth in the
Agreement, hereby consents to the Family Settlement Agreement (the
"Agreement'), and acknowledges that a copy of the Agreement, including all
Exhibits thereto, has been provided to him.
COMMONWEALTH O/F PENNSYLVANIA
COUNTY OF C~~~~r~~
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TODD S. MOGEL, in ividually and in
his fiduciary capacities set forth in the
Agreement
On this, the ~_ day of ~~ / , 2008, before me, the
undersigned officer, personally appeared TODD S. MOGEL, known to me (or
satisfactorily proven) to be the person whose name is subscribed to the within
instrument, and acknowledged that he executed the same, in the capacities
indicated, as his free and voluntary act for the purposes expressed therein.
IN WITNESS WHEREOF, I have set my hand and official seal.
____--
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COMMOfvWEt~.i.:l i-i `~= F~NNSYLVANI,~
Notarial Seal
Jay M. Zimmerman, Notary Public
Page -9- upper Allen Twp., Cumberland County
My Commission Expires Mar. i 6, 2010
Member. P~nns~~=~~~~`ni~ A~sor~ation of Notaries
IN RE: : IN THE COURT OF COMMON PLEAS
ESTATE OF WARREN F. MOGEL, :CUMBERLAND COUNTY,
DECEASED :PENNSYLVANIA
ORPHANS' COURT DIVISION
No. 0368 Year 2005
CONSENT TO FAMILY SETTLEMENT AGREEMENT
JILL E. MORELL, individually and in her fiduciary capacities set forth in
the Agreement, hereby consents to the Family Settlement Agreement (the
"Agreement'), and acknowledges that a copy of the Agreement, including all
Exhibits thereto, has been provided to her.
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF ~G1/~OEr~~,+ o~
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JILL ORELL, individually and in
her fiduciary capacities set forth in the
Agreement
On this, the ~ day of ~.or/ ~ , 2008, before me, the
undersigned officer, personally appeared JILL E. MORELL, known to me (or
satisfactorily proven) to be the person whose name is subscribed to the within
instrument, and acknowledged that she executed the same, in the capacities
indicated, as her free and voluntary act for the purposes expressed therein.
IN WITNESS WHEREOF, I have set my hand and official seal.
o ry P 11C COMMOPvWEALTH ~~~ PENNSYLVANIA
Notarial Seal
Jay M. Zimmerman, Notary Public
Upper Allen Twp., Cumberland County
Page - IO- My Commission Expires Mar, t Ei, 2010
Member, ~'ennsy!vania Association of Notaries
i
IN RE:
ESTATE OF WARREN F. MOGEL,
DECEASED
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY,
PENNSYLVANIA
ORPHANS' COURT DIVISION
No. 0368 Year 2005
CONSENT TO FAMILY SETTLEMENT AGREEMENT
ROBERT W. MOGEL, hereby consents to the Family Settlement Agreement
(the "Agreement'), and acknowledges that a copy of the Agreement, including all
Exhibits thereto, has been provided to him.
ROBERT W. MOGEL
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF ~,r'~~~-~5
On this, the_ day of t ~ .> 6 1 , 2008, before me, the
undersigned officer, personally appeared ROBERT W. MOGEL, known to me (or
satisfactorily proven) to be the person whose name is subscribed to the within
instrument, and acknowledged that he executed the same as his free and voluntary
act for the purposes expressed therein.
IN WITNESS WHEREOF, I have set my hand and official seal.
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IN RE: : IN THE COURT OF COMMON PLEAS
ESTATE OF WARREN F. MOGEL, :CUMBERLAND COUNTY,
DECEASED :PENNSYLVANIA
ORPHANS' COURT DIVISION
No. 0368 Year 2005
CONSENT TO FAMILY SETTLEMENT AGREEMENT
JEAN L. MOGEL, hereby consents to the Family Settlement Agreement (the
"Agreement'), and acknowledges that a copy of the Agreement, including all
Exhibits thereto, has been provided to her
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J L. MOGEL
STATE OF ~. ~~~~`'-`
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COUNTY OF "G~-~~~~~~~
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On this, the ~'` ~ day of ~ ~~~ , 2008, before me, the
„n.~ArcignPrl officer, personally appea.re~. JEAN L. MOCTEL, known to mP (or
satisfactorily proven) to be the person whose name is subscribed to the within
instrument, and acknowledged that she executed the same, as her free and
voluntary act for the purposes expressed therein.
IN WITNESS WHEREOF, I have set my hand and official seal.
,~~~
_-~~.
Page -12- ~ ~ KIM R. HEATH
~~`"0.Y P"B ~~~ Nota Public -State of Florida
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'. ; ;My Commission Expires Feb 23, 20GF:
vl Pd; Commission # DD 394927
~''~0... ~~'~ Bonded By National Notary Assn.
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REGISTER OF WILLS
CUMBERLAND Caounty, Pennsylvania
•
CERTIFIC~4TE OF GRANT OF LETTERS
No . 2005- 00368 PA No . 21- 05- 0368
Estate Of : WARREN F MOGEL
(First, Middle, Lastl
Late Of : UPPER ALLEN TOWNSHIP
CUMBERLAND COUNTY
Deceased
Social Security No: 179-14-7677
WHEREAS, 071 the 20th day of April 2005 an instrument dated
December 19t.h :_996 was admitted to probate as the last will of
WARREN F MOGEL
(First, Midd/e, Lastl
Late of UPPER ALLEN TOWNSH/P, CUMBERLAND County,
who died on the 3lst day of March 2005 and,
WHEREAS, a true copy of the will as probated is annexed hereto.
THEREFORE, I, GLENDA EARNER STRASBAUGH Register of Wills in and
for CUMBERLAND County, in the Commonwealth of Pennsylvania, hereby
certify that I have this day granted Letters TESTAMENTARY to:
TODD S MOGEL and JILL E MORELL
who have du1_y qualified as EXECUTOR(R/X1
and have agreed to administer the estate according to Iaw, aII of which
fully appears of record in my office at CUMBERLAND COUNTY COURT HOUSE,
CARLISLE, PENNSYLVANIA.
IN TESTIi'~IONY WHEREOF, I have hereunto set my hand and affixed the seal
of my office on the 20th day of April 2005.
**NO'TE** ALL NAMES ABOVE APPEAR (FIRST, MIDDLE, LAST)
LAW OFFICES
'` - , RUPP AND MEIKLE ,
`'°'~ A PRc9PH99f@~IAL CORPORATION'
THE WAGNER BUILDING -SUITE 303
355 NORTH 21ST STREET
CAMP HILL, PA 170ll
•
LAST WILL AND TESTAMENT
OF
WARREN F. MODEL
I, WARREN F. MODEL, of 7 West Winding Hill Road, Mechanicsburg, Pennsylvania,
17055, being of sound and disposing mind and memory, do hereby make, publish and declare this
for and as my Last Will and Testament hereby revoking any and all Wills or Codicils by me at
any time heretofore made.
• ITEM I - I am married to JEAN L. MODEL, and all references to my wife in this
Will are to her. I have three children: TODD S. MODEL, JILL E. MORELL and ROBERT W.
MODEL, and they are described in this Will as "my children".
ITEM II - I give my tangible personal property and all insurances thereon to my wife,
JEAN L. MODEL, or if my wife does not survive me, I give my said property to my children
who are living at my death to be divided equally among them as they determine or if they are
unable to agree, as my Executor shall determine, after consulting the wishes of my children. I
have complete confidence that my wife or my Executor will honor any written instructions that
I may leave with regard to said tangible personal property. Any such property not so distributed
should be sold and the proceeds added to my residuary estate and pass as hereafter described.
•
ITEM III - All the rest, residue and remainder of my Estate, real, personal and mixed
I give to the Trustee of the Trust created under a Trust Agreement dated December ~_
1996, by and between me, WARREN F. MOGEL as Grantor and WARREN F. MOGEL, as
Trustee, to be held, administered, and distributed pursuant to the provisions of that Trust
Instrument as a part of the Trusts created thereby.
ITEM IV - If my wife and I should die under such circumstances as would render it
doubtful whether my wife or I died first, then it shall be conclusively presumed for the purposes
of this my Will that my wife predeceased me.
•
ITEM V - I name as my Co-Executors, my son, TODD S. MOGEL and my daughter,
JILL E. MORELL. In the event my son Todd and daughter Jill predecease me, or in the event
they refuse to accept the appointment, I name my son, ROBERT W. MOGEL, as Executor of
my Last Will and Testament.
(1) I give to my Executor-Executrix named in this Will or any Codicil
hereto or to any substitute Executor-Executrix the power to sell real estate and all of the powers
now applicable by law to fiduciaries in the Commonwealth of Pennsylvania and in particular to
•
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the Pennsylvania Probate Estates and Fiduciaries Code as effective and in effect on the date hereof
during the administration and until the completion of the distribution of my Estate.
(2) In determining the Federal Estate and income tax liabilities of my
Estate, my Executor-Executrix shall have discretion to select the valuation date and to determine
whether any or all of the allowable administration expenses in my estate shall be used as Federal
Estate Tax deductions or as Federal Income Tax deductions and shall have the discretion to file
a joint income tax return with my wife.
(3) If there be any property located outside the Commonwealth of
• Pennsylvania, in which I may have an interest at the time of my death, which cannot be
conveniently administered as provided herein, then I authorize, but do not require, my Executrix-
Executor to appoint a Bank or Trust Company with trust powers, to administer such property
according to the terms of this Will.
ITEM VI - No interest of any beneficiary under this Will, or any Codicil hereto, shall
be subject to anticipation or to voluntary or involuntary alienation.
ITEM VII - All estate, inheritance, succession and other death taxes imposed or payable
by reason of my death and interest and penalties thereon with respect to all property comprising
• 3
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my gross estate for death tax purposes, whether or not such property passes under this Will, shall
be paid out of the residue of my estate, after collecting from my Trustee(s) of my Revocable
Trust, the share of such taxes applicable to the assets of my Revocable Trust, as if such taxes were
expenses of administration. I authorize my Executrix-Executor to pay all such taxes at such time
or times as deemed advisable.
ITEM VIII - Wherever appearing herein, masculine terms shall be understood to be
feminine and feminine terms shall be understood to be masculine, singular terms shall be
understood to be plural and plural terms shall be understood to be singular, all as the context may
require.
•
IN WITNESS WHEREOF, I have hereunto set my hand and seal this ~~ day of
December 1996.
WARREN F. M EL
Witnesses:
• 4
•
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF ~~~~'~' ~~%~r~
. SS .
WE, WARREN F. MOGEL, ==-~ c~,~ ~ /(u~j>, ~~ ,and
/~)~ C~hC~CG~ G ~~,0~ ,the Testator and the witnesses, respectively,
whose names are signed to the attached or foregoing will, being first duly sworn, do hereby
declare to the undersigned authority that the Testator signed and executed the instrument as his
Last Will and Testament and that he had signed willingly (or willingly directed another to sign
for him), and that he executed it as his free and voluntary act for the purposes therein expressed,
and that each of the witnesses, in the presence and hearing of the Testator, signed the Will as
witness and to the best of his or her knowledge the Testator was at the time eighteen (18) year of
• age or older, of sound mind, and under no constraint or undue influence.
WARREN F. M GEL, T for
T SS
,vGl~
WITNESS
Subscribed, sworn to, and acknowledged before me by WARREN F. MOGEL, the
Testator, and subscribed and sworn to before me by ~~~z~ C~ /nom ~ ~,~ and
/~'~C/~~~~ ~' ~(~;.~~~~ ,witnesses, this / g f~ day of December, 19~ .
L~ ~ (,~~~~ ~- ~~~~-tip
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AMENDMENT TO WARREN F. MOGEL REVOCABLE TRUST AGREEMENT DATED
DECEMBER 19, 1996
This Amendment to the Warren F. Mogel Revocable Trust Agreement dated
December 19, 1996 is made this `i~p-- day of January, 2002, by and between
Warren F. Mogel, Grantor, and Warren F. Mogel, Trustee, as follows:
Paragraphs 2,3, 4 and 5 are deleted in their entirety and the following
paragraphs 2, 3, 4 and 5 are substituted therefor:
2. All of the rest, reside and remainder of the Trust property shall be paid
and/or distributed to the Grantor's wife, Jean L. Mogel, subjecF to
Jean's right to disclaim, as follows:
3. The Grantor's wife, Jean L. Mogel, may disclaim a dollar amount from
the above rest, residue and remainder distribution into the Credit-
Shelter (By-Pass) Trust hereinafter set forth as Paragraph 4.
4. My Trustees shall hold this disclaimed amount IN TRUST (the By-Pass
Trust) during the life of the Grantor's wife, Jean, or until the earlier
termination of the Trust, for the following purposes:
(a) To pay to or apply for the benefit of the Grantor's wife,
Jean, all of the net income from the Bypass Trust in
convenient installments, but at least annually, as my
Trustees in their sole discretion shall determine, but
primarily for the medical care, support and maintenance in
reasonable comfort of the Grantor's said wife, or to meet
the costs of any illness or accident which may affect her.
(b) To pay to or apply for the benefit of the Grantor's wife,
Jean, such sums from the principal of the Bypass Trust as
my Trustees in their sole discretion shall determine to be
necessary or advisable from time to time for the medical
care, support and maintenance in reasonable comfort of
the Grantor's wife, Jean, taking into consideration to the
extent my Trustees deem advisable, any other income or
resources of the Grantor's wife, Jean, known to my
Trustees. My Trustees may not invade principal for the
benefit of the Grantor's wife, Jean, however, until they are
reasonably satisfied that her other assets have been
substantially depleted.
'.
(c) At the death of the Grantor's wife, Jean, to pay any
principal remaining to the Grantor's children in equal
shares. In the event a child of the Grantor predeceases
the Grantor or in the event a child of the Grantor dies
during the term of this Trust without children
(grandchildren of the Grantor) his or her share shall be
divided equally between the remaining children. In the
event a child of the Grantor predeceases the Grantor or in
the event a child of the Grantor dies during the term of
this Trust and leaves children surviving him or her, his or
her share shall continue in trust for the children surviving
him or her (grandchildren of the Grantor).
(d) The principal shall be held, invested and reinvested,
preferably in tax-free municipal bonds.
5. The Trustee shall hold the amount not disclaimed by the Grantor's wife,
Jean, in a remainder trust, for the following purposes:
(a) To pay the income to the Grantor's wife, Jean, in
convenient installments at least quarter-annually.
(b) To pay to the Grantor's wife, Jean, at any time or times
such sums from or any part or all of the principal as the
Trustees may, in their sole discretion, determine to be
reasonably necessary to permit her to maintain her usual
and normal standard of living or to meet the costs of any
illness or accident which may affect her.
(c) Upon the death of Grantor's wife, Jean, to pay to the
Executors of the Grantor's wife's estate all income accrued
but undistributed at the date of the Grantor's wife's death.
The Trustees shall then dispose of the remaining principal
of the trust as follows: to pay to the Executors of the
Grantor's estate, out of the trust, an amount equal to the
estate, inheritance, transfer, succession or other death
taxes ("death taxes") federal, state and other, payable by
reason of the inclusion of part or all of the trust property in
her estate. Such payment shall be equal to the amount by
which (1) the total of such death taxes paid by Grantor's
2
wife's estate exceeds (2) the total death taxes which would
have been payable if such part or all of the trust property
had not been included in his estate. The determination by
Grantor's wife`s Executor(s) of the amount payable
hereunder shall be final; the Trustees shall pay such
amount promptly upon written request of Grantor's wife's
Executor(s). The final determination of the amount due
hereunder shall be based upon the values as finally
determined for federal estate tax purposes in Grantor's
wife's estate. After payment of the amount finally
determined to be due hereunder, Grantor's Trustees shall
be discharged from any further liability with respect to
such payment. Grantor's wife may waive her estate's right
to payment under this subparagraph by a will, executed
after Grantor's death, in which she specifically refers to the
right to payment hereby given to her estate.
(d) At the death of the Grantor's wife, Jean, to pay any
principal remaining to the Grantor's children in equal
shares. In the event a child of the Grantor predeceases
the Grantor or in the event a child of the Grantor dies
during the term of this Trust without children
(grandchildren of the Grantor) his or her share shall be
divided among the remaining children. In the event a
child of the Grantor predeceases the Grantor or in the
event a child of the Grantor dies during the term of this
Trust and leaves children surviving him or her, his or her
share shall continue in trust for the children surviving him
or her (grandchildren of the Grantor).
(e) The principal shall be held, invested and reinvested,
preferably in tax-free municipal bonds.
Except as amended hereinabove, the Revocable Trust of December 19, 199b is
ratified and continued in effect.
IN WITNESS WHEREOF, the parties have hereunto set their hands and seals,
this ~ day of January, 2002.
Witness:
i ~' V~
.~_
WARREN F. MO EL, Grantor
~~
WARREN F. MO EL, Tr stee
4
L
COMMONWEALTH OF PENNSYLVANIA
SS.
COUNTY OF CUMBERLAND
On this, the ~1 day of January, 2002, before me, a Notary Public,
personal{y appeared Warren F. Mogel, Grantor, known to me (or satisfactorily
proven) to be the person whose name is subscribed to the foregoing instrument and
also acknowledged that he executed the same for the purposes therein contained.
IN WITNESS WHEREOF, I have hereunto set my hand and official seal.
NOTARY PUB IC
NOTARIAL SEAL
BARBARA J. KOCHER, Notary Public
(NOTARY SEAL) Camp Hill Boro, Cumberland County
My Commission Expires Oct. 22, 2005
My Commission Expires:
MEAAORY TRANSMI SS I ON REPORT
TIME 04-21-2008 16:37
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873
FAX
COVER SHEET
635 N. 12"' Street ~~ Suite 400 ~ Lemoyne, PA 17043
(717) 612-5800 - Main # -~ (717) 612-5805 - Fax #
DATE April 21, 2008
To Gregory S_ Ghen, Esq.
FAX: X610) 670-6310
Faorvt Stephanie Kleinfelter, Esquire
PHONE (717) 901-7786 FAX: (717) 612-5805
No. Sheets Being Sent: 6 Including Cover Sheet
RE: Warren F_ Mogel Revocable Trust
Amendment Dated 01/09/2002
Dear Gregory,
[ have attached for your records a copy of the above referenced Amendment.
Stephanie
.3® Any problems with this telecopy, please contact Kelly at (717) 612-5809 OO
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• C:1WP601VYILLSIMOGFI.WAR.TRT DECEIVER 18, 1996 C~ ~
Y ~ ~ ~
THIS AGREEMENT made this -~ day of December, 1996, by and between
WARREN F. MOGEL of 7 West Winding Hill Road, Mechanicsburg, Pennsylvania, hereinafter
referred to as the "Grantor" and WARREN F. MOGEL, hereinafter referred to as the "Trustee" .
1. The Grantor hereby transfers to the Trustee the property listed in Schedule A
annexed hereto, IN TRUST, for the following purposes:
(a) To pay the income to the Grantor inconvenient installments at least quarter-
annually.
(b) To pay the Grantor, at any time or times during his life, such sums from
or any part or all of the principal as he may request in a written instrument
delivered to the Trustee.
(c) To pay to the Grantor, at any time or times during his life, such sums from
or any part or all of the principal as the Trustee may, in his discretion,
determine to be reasonably necessary for his support, maintenance, comfort or
other benefit, or to meet the costs of any illness or accident which may affect him.
(d) Upon the death of the Grantor, to pay the then remaining principal, if any,
as the Grantor may appoint in favor of his estate or in favor of others, such power
to be exercisable by him in a will in which he expressly refers to this power.
(e) If or to the extent to which the Grantor fails effectively to exercise the
power granted to him in (d) above, to dispose of the principal, if any, remaining
on his death as provided in paragraph 3, if the Grantor's wife, Jean L. Mogel,
survives the Grantor. If the Grantor's wife does not survive him, such principal
shall be paid to the Grantor's issue surviving him.
2. Upon the Grantor's death, the Trustees shall pay to the Grantor's estate an amount
equal to the trust's fair share, determined as provided below, of all estate, inheritance and other
death taxes (including any interest thereon and penalties with respect thereto), federal, state and
other, imposed by reason of the Grantor's death in respect of property held by the trust or
otherwise. The trust's fair share of such taxes shall be determined by the executors or
administrators for each tax separately and, for each tax, shall be the proportion of the tax which
the value of the property held by the trust in respect to which the tax is imposed bears to the value
2
~ ~
of all property in respect to which the tax is imposed. A tax shall not be considered imposed in
respect to property to the extent of any deduction, credit, exemption or exclusion allowed in
respect to such property. The determination by the executors or administrators of the amount
payable under this article shall be final, and the Trustees shall pay such sums without making
inquiry into their accuracy. Upon making payment of the amounts determined, the Trustees shall
be discharged from any liability with respect to such payments and from further accountability
therefor. Such payments shall be made out of the principal of the trust. If the Grantor's wife,
Jean L. Mogel, survives the Grantor, in no event shall such payments be made out of Share B as
defined in (b) of paragraph 3 of this agreement.
3. If the Grantor's wife, Jean L. Mogel, survives the Grantor, any property directed
to be disposed of pursuant to the provisions of this article shall be divided into two shares, herein
respectively designated as "Share A" and "Share B", which shall be constituted as follows:
(a) Share A shall consist of a sum equal to the largest amount, if any, which
can pass free of federal estate tax in the Grantor's estate by reason of the unified
credit against federal estate tax allowable to the Grantor's estate and the state death
tax credit allowable to the Grantor's estate (provided that use of this credit does not
result in increasing the amount of state death taxes paid), reduced by the aggregate
of (1) any items passing outside of this agreement which are required to be
3
included in the Grantor's gross estate and which do not qualify for the federal
estate tax marital or charitable deductions, (2) the amount of any administration
expenses of the Grantor's estate which are clauned as income tax rather than as
estate tax deductions, and (3) the amount of any state death taxes payable by the
Grantor's estate, including the trust's fair share of such taxes payable under
Paragraph 2 hereof.
(b) Share B shall consist of the balance of the property directed to be disposed
of pursuant to the provisions of this paragraph.
Share A shall be disposed of as provided in paragraph 4, and Share B as provided in
paragraph 5.
4. The Trustees shall hold Share A, during the life of the Grantor's wife, Jean L.
Mogel, for the following purposes:
(a) In the discretion of the Trustees, to pay any part or all of the income to, or
accumulate any part or all of such income for the benefit of, any one or more of
the Grantor's wife and his issue in any degree, or add any part or all of such
income to the principal of the trust.
4
(b) To pay to any one or more of the Grantor's wife and his issue in any degree
at any time or tunes such sums from or any part or all of the principal as the
Trustees may, in their discretion, determine to be reasonably necessary to permit
the person to whom the distribution is made to maintain her usual and normal
standard of living, or to meet the costs of any illness or accident which may affect
such person; except that no amount shall be paid to the Grantor's wife from the
principal of Share A until the principal Share of B, disposed of pursuant to
paragraph 5, has been completely exhausted.
(c) At the death of the Grantor's wife to pay any principal remaining to the
Grantor's children in equal shares. In the event a child of the Grantor predeceases
the Grantor or in the event a child of the Grantor dies during the term of this Trust
without children (grandchildren of the Grantor) his or her share shall be divided
equally between the remaining children. In the event a child of the Grantor
predeceases the Grantor or in the event a child of the Grantor dies during the term
of this Trust and leaves children surviving him or her, his or her share shall
continue in trust for the children surviving him or her (grandchildren of the
Grantor).
5
•
(d) The principal shall be held, invested and reinvested, preferably in tax-free
municipal bonds.
5. The Trustees shall hold Share B IN TRUST, during the life of the Grantor's wife,
Jean L. Mogel, for the following purposes:
(a) To pay the income to her in convenient installments at least quarter-
annually.
(b) To pay to her at any time or times such sums from or any part or all of the
principal as the Trustees may, in their sole discretion, determine to be reasonably
necessary to permit her to maintain her usual and normal standard of living or to
meet the costs of any illness or accident which may affect her.
(c) Upon the death of Grantor's wife, Jean L. Mogel, to pay to the Executors
of the Grantor's wife's estate all income accrued but undistributed at the date of
the Grantor's wife's death. The Trustee shall then dispose of the the remaining
principal of the trust as follows: to pay the Executors of the Grantor's estate, out
of the trust, an amount equal to the estate, inheritance, transfer, succession or other
death taxes ("death taxes") federal, state and other, payable by reason of the
6
inclusion of part or all of the trust property in her estate. Such payment shall be
equal to the amount by which (1) the total of such death taxes paid by Grantor's
wife's estate exceeds (2) the total death taxes which would have been payable if
such part or all of the trust property had not been included in her estate. The
determination by Grantor's wife's Executor(s) of the amount payable hereunder
shall be final; the Trustees shall pay such amount promptly upon written request
of Grantor's wife's Executor(s). The final determination of the amount due
hereunder shall be based upon the values as finally determined for federal estate
tax purposes in Grantor's wife's estate. After payment of the amount finally
determined to be due hereunder, Grantor's Trustee(s) shall be discharged from any
further liability with respect to such payment. Grantor's wife may waive her
estate's right to payment under this subparagraph by a will, executed after my
death, in which she specifically refers to the right to payment hereby given to her
estate.
(d) At the death of the Grantor's wife to pay any principal remaining to the
Grantor's children in equal shares. In the event a child of the Grantor predeceases
the Grantor or in the event a child of the Grantor dies during the term of this Trust
without children (grandchildren of the Grantor) his or her share shall be divided
among the remaining children. In the event a child of the Grantor predeceases the
7
~~ w ~ ~ !
Grantor or in the event a child of the Grantor dies during the term of this Trust and
leaves children surviving him or her, his or her share shall continue in trust for the
children surviving him or her (grandchildren of the Grantor).
e. The principal shall be held, invested and reinvested, preferably in tax-free
municipal bonds.
6. A separate trust shall be established for each person who has not attained age 30
and for each disabled person.
7. If under the terms of other provisions of this trust, any money or other property
is required to be distributed to a person who is a minor or who is otherwise under a disability
(such as incompetency), such money or other property shall not be so distributed, but instead shall
be held by the Trustees, IN TRUST, for the following purposes:
(a) During the period of minority or other disability, the Trustees shall pay to
the minor or other person under a disability any part or all of the income or
principal as the Trustees may, in their discretion, determine to be reasonably
necessary for such person's support, maintenance, education, or health or to meet
the costs of any illness or accident affecting such person.
8
(b) During the period of minority or other disability, the Trustees may
accumulate any part of the income not disposed of pursuant to (a) of this
paragraph, or they may add such income to principal.
(c) During the period after the person attains majority, but has not attained 30
years of age, the respective income shall be paid to such person at least semi-
annually.
(d) When a minor attains the age of 30 years or when the disabled person's
disability terminates, the Trustees shall pay all respective remaining property to the
person who has attained age 30 or whose disability has terminated, or in the event
such person has died before attaining age 30 or without termination of the
disability, the Trustees shall distribute such property to such person's estate.
8. Any property which the Trustees are authorized to pay to a person who is a minor
or otherwise under a disability, may, in the discretion of the Trustees, be paid for the benefit of
such person to a guardian or to another individual who is not under a disability with whom the
minor or otherwise disabled person resides. If the Trustees obtain a receipt for any payment made
in accordance with this provision, such receipt shall fully discharge them from liability with
respect to such payment and from further accountability therefor.
9
~ ~
9. Whenever the Trustees are directed or authorized to make payments to a person,
the Trustees are authorized, in their discretion, to apply such payments to or for the use of such
person.
10. Any income which has been accumulated by the Trustees for the benefit of a
specified person may be paid to such person at any time prior to the termination of the trust which
earned the income and shall be paid to such person upon such termination. In the event that such
person dies prior to the termination of such trust, any such accumulated income shall be paid to
his or her estate.
11. Wherever the Trustees, except Warren L. Mogel, are given the discretionary
power to make payments from the principal of a trust, no Trustee who is a potential recipient of
such a payment may exercise his or her discretion in his or her own favor.
12. The Trustees, in exercising any discretionary powers given to them under any
provisions of this trust, need not take into consideration any other assets or income owned by or
available to the person to whom a discretionary payment is under consideration, except that the
Trustees shall be prohibited from making any payment in reimbursement to any governmental
entity which may have incurred expense for the benefit of a beneficiary, and the Trustees shall
not pay any obligation of a beneficiary which obligation is otherwise payable by any governmental
10
• +
entity or pursuant to any governmental program of reimbursement or payment. It is the Grantor's
primary purpose in creating the trusts provided for in this agreement to benefit the beneficiaries
of the income and not to preserve the principal for the benefit of the remaindermen; this purpose
shall be carried out in determining any questions which may arise between the interests of the
beneficiaries of the income and the interests of the beneficiaries of the remainders.
13. The word "issue" as used in this agreement (i) shall mean issue per stirpes and (ii)
shall include those born after the date of this agreement. The word "minor" as used in this
agreement shall mean a person under the age of majority in the jurisdiction in which such person
is domiciled, and the word "minority" shall mean that period before such person attains the age
of majority. The words "Trustee" and "Trustees" apply to and include not only the Trustees
named herein to act in the first instance, but also, unless otherwise specifically provided, any
additional or successor Trustee. The word "discretion" means "sole, exclusive and
unrestricted discretion." Unless the context otherwise requires, the masculine shall be deemed
to include the feminine and neuter, and the use of the singular and plural shall be interchangeable.
14. Without limiting the authority which the Trustees would otherwise have pursuant
to law or pursuant to other provisions of this agreement, they are hereby vested with the following
discretionary powers which they shall have until the final distribution of all assets in their hands:
11
• •
(a) To retain for as long a period of time as they may consider advisable or
proper any property which may at any time be in their hands.
(b) To sell at public or private sale or to exchange any property which may at
any time be in their hands, without application to court, on any terms which they
may consider advisable or proper, including terms involving an extension of credit
for any period of time and with or without security.
(c) To invest in or otherwise acquire any property, without being bound by any
provision of law restricting investments by trustees, including but not limited to
common and preferred stocks, secured and unsecured obligations, mutual and
common funds, other securities, mortgages, and interests and options in any of the
foregoing.
(d) To acquire and retain property without regard to any principles of
diversification.
(e) To acquire, exercise, sell or abandon conversion, subscription and other
rights and options in connection with securities or any other property, and to grant
options for any period of time.
12
•
(f) To operate, repair, alter, improve, insure, grant options upon, mortgage,
partition, or lease for any period of time any real property or interest in real
property which at any time forms part of any trust herein created.
(g) To employ and pay investment advisers, accountants, attorneys,
bookkeepers, clerks, stenographers and other assistants.
(h) To borrow money for any purpose, including but not limited to the payment
of taxes; this power (except with respect to the Share B trust for the benefit of the
Grantor's wife) to include the power to borrow from income for the benefit of
principal or from principal for the benefit of income, with or without interest, and
to pledge or mortgage property as security for money borrowed.
(i) To lend money or other property to any person, corporation, partnership,
trust or other entity, including a beneficiary hereunder.
(j) To make any division or distribution hereunder in kind or in cash or partly
in each.
13
•
(k) To determine, in case of reasonable doubt on their part, whether any
property coming into their hands constitutes income or principal, and whether any
payment or expenditure made by them shall be charged to income or to principal,
but any distribution by a corporation or association made to the Trustees (except
to the Trustees of the Share B trust for the benefit of the Grantor's wife) in the
shares of the distributing corporation or association, whether in the form of a stock
split or stock dividend, shall be allocated wholly to principal.
(1) To place the assets of the trust or any part of them in one or more bank,
brokerage, custodian or other accounts with any banks, trust companies, or stock
brokerage firms, and to pay the cost of maintaining such accounts.
(m) To maintain bank, brokerage, custodian and other accounts under the title
of WARREN F. MOGEL REVOCABLE TRUST, or in the name of the Trustees
or any of them, followed by the words "SPECIAL ACCOUNT"
(n) To keep property of the trust in any convenient place of safekeeping,
without limitation, provided that such property is at all times earmarked as being
the property of the trust.
14
•
(o) To delegate to any one of the Trustees, or to others, any nondiscretionary
power, including but not limited to the power, singly or with others, to sign
checks, withdrawal slips, instructions for the receipt or delivery of securities or
other property, and instructions for the payment or receipt of money, and the
power, singly or with others, to have access to any safe deposit box or other place
where property of any trust created pursuant to this agreement is deposited.
15. No Trustee shall be required to furnish any bond, undertaking or other security for
the faithful discharge of his duties as Trustee, nor shall any Trustee be required to file any interim
account of his proceedings in any court in any jurisdiction in which he may be called upon to act.
No Trustee shall be responsible or liable for the manner in which any discretion is exercised
pursuant hereto, or for any misinterpretation of this agreement, or for any act or omission of any
other Trustee, or, unless his conduct amounts to fraud or willful misconduct, for any act or
omission of his own.
16. Any person, including the Grantor, may, at any time and from time to time, add
additional property by will or otherwise to the trust, providing such property is acceptable to the
Trustees. Any property so added shall become a part of the trust estate and be subject in all
respects to the terms and conditions of this agreement.
15
•
17. Any statement sent by registered mail or delivered by any Trustee to, or any release
to a Trustee signed by any beneficiary who is living and of full age and sound mind, or any
statement so sent or delivered to, or any release signed on behalf of any beneficiary by the
executor or administrator of any beneficiary if the beneficiary is not living, or a parent, guardian
or committee of a beneficiary who is living but not of full age and sound mind, shall conclusively
discharge the Trustees from any and every claim and demand of any such beneficiary with respect
to any matter contained in such statement or release, except with respect to any matters in such
statement as to which written objection is made to and received by the Trustee rendering the
statement within sixty days after the statement has been sent or delivered. Any such release, if
given with respect to all matters relating to the trust and the administration thereof, with or
without formal or informal accounting or the rendition of any statement shall conclusively
discharge such Trustee from all claims of the beneficiary by whom or on whose behalf the release
was signed, and from all claims of the then living descendants of such beneficiary having no
interest in the trust conflicting with that of such beneficiary, and from all claims of such
beneficiary's unborn issue, with respect to all matters relating to the trust or the administration
thereof, including claims which were not disclosed to or not known by such beneficiary or the
person signing the release on such beneficiary's behalf.
16
18. A Trustee may resign by executing and acknowledging a written resignation and
delivering it to an acting Trustee, if there is a Trustee acting, or if not, the Grantor if he is then
living, or if not, to the then income beneficiary of the trust.
19. The successor Trustees shall be Jill E. Morell and Todd S. Mogel, or the survivor
of them.
The Grantor shall have power to remove any Trustee and to designate additional Trustees
or successor Trustees. Any designation shall be revocable at any time prior to the qualification
of the person so designated.
After the death of the Grantor, the Trustee or Trustees acting from time to time shall have
the power to designate additional Trustees to serve with them or successor Trustees to serve upon
the occurrence of a further vacancy if the successors named herein or designated as provided
herein are unable to act. The powers provided for by this paragraph shall include the power to
designate different Trustees for different trusts created herein.
The Trustees acting from time to time shall have the power to deliver any or all of the
assets of the trust to any Trustee or Trustees then acting in any jurisdiction. This power shall
include the power to administer separate trusts created herein as separate entities with different
17
Trustees in different jurisdictions. It is the Grantor's intention that if the assets of the trust are
delivered to another jurisdiction, they be administered in and subject to the laws of that
jurisdiction.
Each of the powers granted by this paragraph shall be exercisable by a written and
acknowledged instrument. A designation shall become effective upon the delivery thereof to the
person so designated and the qualification of such person in the manner hereinafter provided. A
revocation of a designation shall become effective upon delivery thereof to the person whose
designation is revoked, except that a revocation to be effective need not be delivered to the person
designated if the designation has not been delivered to such person. A removal shall become
effective upon the delivery of the instrument of removal to the Trustee so removed.
Additional and successor Trustees shall be vested with all the discretion, authority, rights
and immunities and be subject to all of the duties of Trustees named pursuant to this agreement.
20. Any additional or successor Trustee shall qualify by delivering a written and
acknowledged acceptance of the trust to an acting Trustee, if there is a Trustee acting, or if not
to the Grantor, if he is then living, or if not to the then income beneficiary of the trust.
18
21. Warren F. Mogel hereby accepts the trust and agrees to execute the same as
Trustee to the best of his ability.
22. The trust shall be revocable by the Grantor, at any time, and either in whole or in
part. The Grantor may, in addition, amend or modify this agreement, at any time, in any way
whatever. Any such revocation, amendment or modification shall be made by a written and
acknowledged instrument delivered to the acting Trustees. After the death of the Grantor, the
trust cannot be revoked or amended, and no part of the income or principal of the trust can be
transferred, pledged or otherwise alienated by any beneficiary, or become subject to the debts of
any beneficiary.
23. Unless the governing law has been changed by removal of assets to another
jurisdiction, this agreement and each trust created hereunder shall be construed and r~:gulated by
the laws of the Commonwealth of Pennsylvania.
IN WITNESS WHEREOF, the parties have executed this agreement as of the day and year
first above written.
WARREN F. M EL, G~ for
v
WARREN F. OG ,Trustee
19
COMMONWEALTH OF PENNSYLVANIA
SS.
COUNTY OF Cr,~rr, flu ~/'"~-- .
•
On this, the ~ y day of December, 1996, before me, a Notary Public, personally
appeared Warren F. Mogel, Grantor, known to me (or satisfactorily proven) to be the person
whose name is subscribed to the foregoing instrument and also acknowledged that he executed the
same for the purposes therein contained.
IN WITNESS WHEREOF, I have hereunto set my hand and off cial seal.
(NOTARY SEAL)
~;'
NOTARY PUBLIC /
NG1Ti;~lkl SEA1
My Commission Expires L~{(~HANN yCH~uSSeR, No/ery ~~~~
Camp NHI Boro. Cumberland CouMp, P
My Commission Expires Nov 1 S. 1994
20
.~ ~ ~ ~
WARREN F. MOGEL
REVOCABLE TRUST AGREEMENT
SCHEDULE "A"
~'~~1~--4,6 ~ ~ oo ~-
BUREAU OF INDIVIDUAL TAXES
INHERITANCE TAX DIVISION
PO BOX 280601
HARRISBURG PA 17128-0601
COMMONWEALTH OF PENNSYL~A
DEPARTMENT OF REVENU
INHERITANCE TAX
STATEMENT OF ACCOUNT
STEPHANIE KLEINFELTER
KEEPER ETAL
635 N 12TH ST STE 400
LEMOYNE PA 17043
REV-1607 EX AfP (03-05)
DATE 01-22-2008
ESTATE OF MOGEL WARREN F
DATE OF DEATH 03-31-2005
FILE NUMBER 21 05-0368
COUNTY CUMBERLAND
ACN 101
Amount Remitted
MAKE CHECK PAYABLE AND REMIT PAYMENT T0:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
NOTE: To insure proper credit to your account, submit the upper portion of this form with your tax payment.
CUT ALONG THIS LINE -- RETAIN LOWER PORTION FOR YOUR RECORDS !--
---------------------------------------------------------------------------
REV-1607 EX AFP C03-05) *** INHERITANCE TAX STATEMENT OF ACCOUNT ***
ESTATE OF MOGEL WARREN F FILE N0. 21 05-0368 ACN 101 DATE 01-22-2008
THIS STATEMENT IS PROVIDED TO ADVISE OF THE CURRENT STATUS OF THE STATED ACN IN THE NAMED ESTATE. SHOWN BELOW
IS A SUMMARY OF THE PRINCIPAL TAX DUE, APPLICATION OF ALL PAYMENTS, THE CURRENT BALANCE, AND, IF APPLICABLE,
A PROJECTED INTEREST FIGURE.
DATE OF LAST ASSESSMENT OR RECORD ADJUSTMENT: 12-17-2007
PRINCIPAL TAX DUE:
PAYMENTS CTAX CREDITS):
1,222.56
PAYMENT
DATE RECEIPT
NUMBER DISCOUNT C+)
INTEREST/PEN PAID (-) AMOUNT PAID
09-14-2007 CD008689 145.84- 1,368.40
12-28-2007 CD009128 8.65- 8.65
TOTAL TAX CREDIT
BALANCE OF TAX DUE
INTEREST AND PEN.
* IF PAID AFTER THIS DATE, SEE REVERSE I TOTAL DUE
SIDE FOR CALCULATION OF ADDITIONAL INTEREST.
C IF TOTAL DUE IS LE S`6 THAN S1,
NO PAYMENT IS REQUIRED.
IF TOTAL DUE IS REFLECTED AS A "CREDIT" CCR),
vnn uwv ar nnr w nrrn.~„ ..rr .,rvr....r ....,r ..~ ~... .. .-,..... ~,, ., -.......-..-_--"- _
1,222.56
.00
.00
.00
• COMMONWEALTH OF PENNSYLV~-
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
INHERITANCE TAX DIVISION
PO BOX 280601
HARRISBURG PA 17128-0601
STEPHANIE KLEINFELTER
KEEPER ETAL
635 N 12TH ST STE 400
LEMOYNE PA 17043
NOTICE OF INHERITANCE TAX
APPRAISEMENT, ALLOWANCE OR DISALLOWANCE
OF DEDUCTIONS AND ASSESSMENT OF TAX
REV-1547 EX AFP C06-05)
DATE 12-24-2007
ESTATE OF MOGEL WARREN F
DATE OF DEATH 03-31-2005
FILE NUMBER 21 05-0368
COUNTY CUMBERLAND
ACN 101
APPEAL DATE: 02-22-2008
(See reverse side under Objections)
Amount Remitted
MAKE CHECK PAYABLE AND REMIT PAYMENT T0:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
CUT ALONG THIS LINE --- RETAIN LOWER PORTION FOR YOUR RECORDS ~
-------------------------------------------------------------------------------------------
REV-1547 EX AFP C03-05) NOTICE OF INHERITANCE TAX APPRAISEMENT, ALLOWANCE OR
DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
ESTATE OF MOGEL WARREN F FILE N0. 21 05-0368 ACN 101 DATE 12-24-2007
TAX RETURN WAS: C X) ACCEPTED AS FILED ( ) CHANGED
RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE
APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN
1. Real Estate (Schedule A) (1) .00 NOTE: To insure proper
credit to Your account,
2. Stocks and Bonds (Schedule B7 C2) 133,218.32
3. Closely Held Stock/Partnership Interest (Schedule C) (3) .DO submit the upper portion
of this form with your
4. Mortgages/Notes Receivable (Schedule D) C4) .00 tax payment.
5. Cash/Bank Deposits/Misc. Personal Property (Schedule E) C5) .00
6. Jointly Owned Property (Schedule F) C6) .00
7. Transfers (Schedule G) [7) 577,868.00
8. Total Assets CS) 711 , 086.32
APPROVED DEDUCTIONS AND EXEMPTIONS:
46,481 .00
9. Funeral Expenses/Adm. Costs/Misc. Expenses (Schedule H) (9)
10. Debts/Mortgage Liabilities/Liens (Schedule I) C10) 214 .74
11. Total Deductions (11) 46.695.74
12. Net Value of Tax Return C12) 664,390.58
13. Charitable/Governmental Bequests; Non-elected 9113 Trus ts (Schedule J) C13) .00
14. Net Value of Estate Subject to Tax C14) 664,390.58
NOTE: If an assessment was issued previously, lines 14, 15 and/or 16, 17, 18 and 19 will
reflect figures that include the total of ALL returns assessed to date.
ASSESSMENT OF TAX:
15. Amount of Line 14 at Spousal rate C15) 637,222.58 X OD = .00
16. Amount of Line 14 taxable at Lineal/Class A rate (16) 27, 168.00 X 045 = 1,222.56
17. Amount of Line 14 at Sibling rate (17) .0 0 X 12 = .00
18. Amount of Line 14 taxable at Collateral/Class B rate C18) .00 X 15 _ .00
19. Principal Tax Due C19)= 1,222.56
rex rQCnrrc.
PAYMENT
DATE RECEIPT
NUMBER DISCOUNT C+)
INTEREST/PEN PAID C-)
AMOUNT PAID
09-14-2007 CD008689 145.84- 1,368.40
BALANCE OF UNPAID INTEREST/PENALTY AS OF
~ IF PAID AFTER DATE INDICATED, SEE REVERSE
FOR CALCULATION OF ADDITIONAL INTEREST.
09-15-2007 TOTAL TAX CREDIT 1,222.56
BALANCE DF TAX DUE .DO
INTEREST AND PEN. 8.65
TOTAL DUE 8.65
( IF TOTAL DUE IS LESS THAN 81, NO PAYMENT IS REgUIRED.
IF TOTAL DUE IS REFLECTED AS A "CREDIT" CCR), YOU MAY BE DUE
• SUMMARY OF ACCOUNT
Estate of Warren F. Mogel
For Period 3/31/2005 Through 02/29/2008
Principal
Receipts
Net Gain (or Loss) on Sales or Other Dispositions
Other Receipts
Less Disbursements
Administration Expenses (Prin)
Fees and Commissions (Prin)
Funeral Expenses (Prin)
Other Expenses (Prin)
~___
1-2
3
4
4
5
5
$ 1,928.46
28,866.50
15,638.00
32,353.38
Fiduciary
Acquisition
Value
$ 149,188.10
5,936.17
0.00
.p I JJ, I L'+.G I
78,786.34
Balance before Distributions
Distributions to Beneficiaries
Principal Balance on Hand
For Information:
Changes in Investment Holdings
6
7
8
•v , ~,~~, .~~
17,350.88
$ 58,987.05
Income
Receipts
Less Disbursements
Administration Expenses
Balance before Distributions
Distributions to Beneficiaries
Income Balance on Hand
Combined Balance on Hand
9-12
13
14
$ 13,344.16
60.00
.p I J,LO°F. ~ V
4,910.36
$ 8,373.80
m '.-~ .,..., .,
RECEIPTS OF PRINCIPAL
Estate of Warren F. Mogel
As of 02/29/2008
Assets Listed in Inventory
(Valued as of date of death)
Money Market Accounts
Oppenheimer -Advantage Primary Liq. Fund $ 6,784.12
Miscellaneous Deposit Oppenheimer Account $ 235.90
Common Stocks
Page 1
Fiduciary
Acquisition
Value
$ 7,020.02
PNC Financial Services Group, Inc. 133,218.32
2,581 Units
Mutual Funds
Seligman New Tech Fd Inc. 1,449.76
499.916 Units
TOTAL INVENTORY $ 141,688.10
• RECEIPTS OF PRINCIPAL ~ Page 2
Estate of Warren F. Mogel
As of 02/29/2008
Receipts Subsequent to Inventory
(Valued when received)
06/06/2005 Cash Advance From Jean Mogel $ 7,500.00
TOTAL RECEIPTS SUBSEQUENT TO INVENTORY $ 7,500.00
SUMMARY
Totallnventory $ 141,688.10
Total Receipts Subsequent To Inventory 7,500.00
TOTAL RECEIPTS OF PRINCIPAL $ 149,188.10
GAINS At~LOSSES ON SALES OR OTHER~SPOSITIONS
Estate of Warren F. Mogel
For Period 3/31/2005 Through 02/29/2008
10/28/2005 Sale of 846 Shares Of PNC Financial Services
846 Units
Net Proceeds $ 49,833.85
Fiduciary Acquisition Value d~ ~~~ ~Q
Net Gain
10/28/2005 Sale of 3 Shares Of PNC Financial Services
3 Units
Net Proceeds $
Fiduciary Acquisition Value
Net Gain
12/10/2007 Sold 499.916 Shares Seligman New Tech Fd, Inc.
499.916 Units
Net Proceeds $
Fiduciary Acquisition Value
Net Loss
Total Gains and Losses
Less Loss
Net Gain
172.43
154.85
Gain
$ 6,167.56
17.58
49.99
7QR QR
6,185.14
(~4R 971
5,936.1 ~
Page 3
Loss
~dR A7
248.97
DISBURSEMENTS OF PRINCIP~
Estate of Warren F. Mogel
For Period 3/31/2005 Through 02/29/2008
Administration Expenses (Prin)
06/06/2005 Cumberland County Law Journal -Legal Advertisement $ 75.00
06/07/2005 Register of Wills -Short Certficates 8.00
06/21/2005 M&T Bank -Charge For Deluxe Checks 12.50
07/07/2005 Jason Stacknick -Real Estate Search 75.00
07/20/2005 Appraisal of Car 100.00
07/21/2005 Appraisal of FL Condominium (owned tenants by the
entireties) 300.00
07/21/2005 Century 21 -Appraisal of Unimproved Real Estate
Located In Berks County, Pennsylvania (owned by
Revocable Trust) 640.00
07/22/2005 Notary Fee 5.00
08/18/2005 Apex Appraisal, Inc. -Appraisal of Pennsylvania
Residence 300.00
09/22/2006 Wachovia Securities -Annual Investment Fee 60.00
01/17/2008 Keefer Wood Allen & Rahal, LLP
-Miscellaneous Disbursements (i.e., photocopy charges,
postage, filing fees, telecopier charges, etc.) 256.20
02/08/2008 M&T Bank -Charges For Duplicate Statements 65.00
02/22/2008 Keefer Wood Allen & Rahal, LLP
Miscellaneous Disbursements (i.e., postage, photocopy
charges, telecopier charges. etc.) 31.76
Fees and Commissions (Prin)
06/06/2005 Rupp and Meikle -Retainer To Commence Litigation $ 3,500.00
11/03/2005 Rupp and Meikle -Legal Fees 10,000.00
11/03/2005 Rupp and Meikle -Legal Fees 3,500.00
01/17/2008 Keefer Wood Allen & Rahsl, LLP -Legal Fees 9,204.50
02/22/2008 Keefer Wood Allen & Rahal, LLP -Legal Fees 2,662.00
Page 4
$ 1,928.46
28,866.50
• DISBURSEMENTS OF PRINCIP~
Estate of Warren F. Mogel
For Period 3/31/2005 Through 02/29/2008
Funeral Expenses (Prin)
11/03/2005 Rolling Green Cemetary $ 4,138.00
11/16/2005 Jean L. Mogel
- Parital Payment Of Advanced Funeral Expenses
Malpezzi Funeral Home $7,845
Sun Clty Center Funeral Home $1,440
Rolling Green Cemetery Lot $2,215
01/12/2006 Jean L. Mogel
- Parital Payment Of Advanced Funeral Expenses
Malpezzi Funeral Home $7,845
Sun Clty Center Funeral Home $1,440
Rolling Green Cemetery Lot $2,215
Other Expenses (Prin)
11/09/2005 Jean L. Mogel
- Partial Payment Of Cash Advanced The Estate
11/16/2005 Jean L. Mogel -Family Exemption
12/11 /2005 Jean L. Mogel
- Partial Payment of Cash Advanced The Estate
(Paid Life Insurance Premium To Mass Mutual On Behalf
Of Jean L. Mogel)
01/03/2007 Jean L. Mogel
- Partial Payment of Cash Advanced The Estate
(Paid Life Insurance Premium To Mass Mutual On Behalf
Of Jean L. Mogel)
03/09/2007 Jean L. Mogel
- Partial Payment of Cash Advanced The Estate
(Paid Life Insurance Premium To Mass Mutual On Behalf
Of Jean L. Mogel)
09/14/2007 Register of Wills, Agent -Pennsylvania Inheritance Tax
02/29/2008 Brookside Mobile Home Park, Inc.
- Decedent's Loan(s)
3,000.00
8,500.00
$ 238.76
3,500.00
3,627.12
1,820.56
1,813.56
1,368.40
19,984.98
Page 5
$ 15,638.00
32,353.38
TOTAL DISBURSEMENTS OF PRINCIPAL $ 78,786.34
DISTR~UTIONS OF PRINCIPAL TO BENEFICIARIES Page 6
Estate of Warren F. Mogel
For Period 3/31 /2005 Through 02/29/2008
To: Warren F. Mogel Trust U/A Dtd 12/19/1996
Interim Residual Distribution
11 /09/2005 Cash $ 1,891.09
01/12/2006 Cash 1,389.40
04/17/2006 Cash 14,070.39
Total for Warren F. Mogel Trust U/A Dtd 12/19/1996 $17,350.88
TOTAL DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES $ 17,350.88
• PRINCIPAL BALANCE ON HAN~
Estate of Warren F. Mogel
As of 02/29/2008
Checking Accounts
Estate's Checking Account
Money Market Accounts
Estate's Wachovia Securities Money Market Account
Oppenheimer -Advantage Primary Liq. Fund
Common Stocks
PNC Financial Services Group, Inc.
1,732 Units
Less: Income balance on hand
PRINCIPAL BALANCE ON HAND
Current Carrying
Value Value
$(30,269.00) $(30,269.00)
8,162.80 8,162.80
69.87 69.87
106,396.76 89,397.18
$ 84,360.43 $ 67,360.85
8.373.80 8.373.80
$ 75,986.63 $ 58,987.05
Page 7
INFORMATION SCHEDULES
Estate of Warren F. Mogel
For Period 3/31 /2005 Through 02/29/2008
Changes in Investment Holdings
PNC Financial Services Group, Inc. $ 133,218.32
10/28/2005 Sale of 846 Shares Of PNC Financial Services
846 Units (43,666.29)
10/28/2005 Sale of 3 Shares Of PNC Financial Services
3 Units (154.851
Seligman New Tech Fd Inc. $ 1,449.76
12/26/2006 Seligman New Tech Fd, Inc. Liquidating Interest (99.98)
07/31/2007 Seligman New Tech Fd Inc.
2007 Form 1099 Shows $1,050.82 in Cash Liquidations
and 08/31/07 Oppenheimer Statements Shows $874.85
in Dividends (874.85)
12/10/2007 Seligman New Tech Fd Inc.
2007 Form 1099 Shows $1,050.82 in Cash Liquidations
and 12/31/07 Oppenheimer Statements Shows $175.97
in Dividends (175.97)
12/10/2007 Sold 499.916 Shares Seligman New Tech Fd, Inc.
499.916 Units (~9~i 9F1
Page 8
$ 89,397.18
0.00
RECEIPTS OF INCOME
Estate of Warren F. Mogel
For Period 3/31/2005 Through 02/29/2008
Dividends
Oppenheimer -Advantage Primary Liq. Fund
09/30/2005 Dividends
10/21/2005 Dividends
11/18/2005 Dividends
12/16/2005 Dividends
12/30/2005 Dividends
01/20/2006 Dividends
02/17/2006 Dividends
03/17/2006 Dividends
04/21 /2006 Dividends
05/19/2006 Dividends
06/12/2006 Dividends
07/21/2006 Dividends
08/18/2006 Dividends
09/22/2006 Dividends
12/31/2006 Dividends
01/19/2007 Dividends
02!16/2007 Dividends
03/16/2007 Dividends
04/20/2007 Dividends
05/18/2007 Dividends
06/25/2007 Dividends
07/20/2007 Dividends
08/17/2007 Dividends
15.45
18.72
16.13
17.17
10.23
12.39
19.03
19.73
25.64
21.55
19.08
0.03
0.04
0.05
0.15
0.02
0.04
0.04
0.05
0.04
0.05
0.04
0.04
Page 9
RECEIPTS OF INCOME
Estate of Warren F. Mogel
For Period 3/31 /2005 Through 02/29/2008
08/31/2007 Dividends
09/21/2007 Dividends
10/19/2007 Dividends
11/16/2007 Dividends
12/21/2007 Dividends
12/31/2007 Dividends
PNC Financial Services Group, Inc.
04/24/2005 Dividends
(Depoisted In Estate's Checking Account 08/31/05)
07/24/2005 Dividends
(Depoisted In Estate's Checking Account 08/31/05)
10/24/2005 Dividends
01/24/2006 Dividends
04/24/2006 Dividends
07/24/2006 Dividends
10/24/2006 Dividends
01/24/2007 Dividends
04/24/2007 Dividends
07/24/2007 Dividends
10/24/2007 Dividends
01/24/2008 Dividends
0.22
0.05
0.04
0.04
0.05
n ns
1 yFi.14
1,290.50
1,290.50
1,290.50
866.00
952.60
952.60
952.60
952.60
1,091.16
1,091.16
1,091.16
1,091.16
12,912.54
Page 10
Total Dividends $ 13,108.68
RECEIPTS OF INCOME
Estate of Warren F. Mogel
For Period 3/31/2005 Through 02/29/2008
Interest
Wachovia Securities Money Market Account
11/30/2005 Interest Income
12/30/2005 Interest Income
01/31/2006 Interest Income
02/28/2006 Interest Income
03/31/2006 Interest Income
04/28/2006 Interest Income
05/31/2006 Interest Income
06/30/2006 Interest Income
07/31/2006 Interest Income
08/31/2006 Interest Income
09/29/2006 Interest Income
10/31/2006 Interest Income
11/30/2006 Interest Income
12/29/2006 Interest Income
01/31/2007 Interest Income
02/28/2007 Interest Income
03/30/2007 Interest Income
04/30/2007 Interest Income
05/31/2007 Interest Income
06/29/2007 Interest Income
07/31/2007 Interest Income
08/31/2007 Interest Income
09/28/2007 Interest Income
59.50
51.10
33.44
13.58
16.59
9.33
1.11
1.08
1.35
2.17
2.09
1.72
2.35
2.43
2.49
2.20
2.33
2.33
2.93
2.83
3.08
3.58
3.21
Page 11
10/31/2007 Interest Income
11/30/2007 Interest Income
12/31/2007 Interest Income
01/31/2008 Interest Income
2/29/2008 Interest Income
Total Interest
TOTAL RECEIPTS OF INCOME
RECEIPTS OF INCOME
Estate of Warren F. Mogel
For Period 3/31 /2005 Through 02/29/2008
2.90
2.91
3.00
2.28
1 .ri7
1~b.4tf
Page 12
7~~ dR
$ 13,344.16
• DISBURSEMENTS OF INCOM~ Page 13
Estate of Warren F. Mogel
For Period 3/31/2005 Through 02/29/2008
Administration Expenses
09/21/2007 Wachovia Securities -Annual Investment Fee
60.00
TOTAL DISBURSEMENTS OF INCOME $ 60.00
DIST~BUTIONS OF INCOME TO BENE~IAIRIES Page 14
Estate of Warren F. Mogel
For Period 3/31/2005 Through 02/29/2008
To: Warren F. Mogel Trust U/A Dtd 12/19/1996
Income Distribution
11 /09/2005 Cash $ 3,870.15
01 /12/2006 Cash 110.60
04/17/2006 Cash 929.61
Total for Warren F. Mogel Trust U/A Dtd 12/19/1996
$4,910.36
TOTAL DISTRIBUTIONS OF INCOME TO BENEFICIARIES $ 4,910.36
EXHIBIT E
• BALANCE ON HAN~
Current Carrying
Value Value
Checking Accounts
Estate's Checking Account $(30,269.00) ${30,269.00)
Money Market Accounts
Estate's Wachovia Securities Money Market Account 8,162.E30 8,162.80
Oppenheimer -Advantage Primary Liq. Fund 69.1:37 69.87
Common Stocks
PNC Financial Services Group, Inc. 106,396.76 89,397.18
1,732 Units
$ 84,360.43 $ 67,360.85
EXHIBIT F
SUMMARY OF ACCOUNT
The Trust U/A Of Warren F. Mogel
For Period 12/19/1996 Through 03/31/2008
Fiduciary
Acquisition
Page Value
Principal
Receipts 1-2 $ 568,079.05
Net Gain (or Loss) on Sales or Other Dispositions 3-4 (60,770.76)
Other Receipts 0.00
$ 507,308.29
Less Disbursements
Administration Expenses (Prin) 5 $ 39,680.75
Other Expenses (Prin) 5 92,054.45
131,735.20
Balance before Distributions $ 375,573.09
Distributions to Beneficiaries 6 17,350.88
Principal Balance on Hand 7 $ 358,222.21
For Information:
Investments Made 8
Changes in Investment Holdings 8-10
Income
Receipts 11 $ 4,910.36
Less Disbursements
Other Taxes 12 6,369.57
Balance before Distributions $ (1,459.21)
Distributions to Beneficiaries 13 4,910.36
Income Balance on Hand $ (6,369.57)
Combined Balance on Hand ~ 351.852f4
RECEIPTS OF PRINCIPAL •
The Trust U/A Of Warren F. Mogel
As of 03/31 /2008
Assets Listed in Inventory
(Valued as of date received)
Other Real Property
Unimproved Real Property Commonly Known As 7920
Chapel Hill Road, Spring Township, Berks County,
Pennsylvania 19608
Deed Book 2954 Page 273
Appraised Value
Miscellaneous Property
5 Units in First Capital Institutional Real Estate, Ltd-1
(a .0083333% interest)
TOTAL INVENTORY
Page 1
Fiduciary
Acquisition
Value
$ 550,000.00
$ 700.00
$ 550,700.00
RECEIPTS OF PRINCIPAL • Page 2
The Trust U/A Of Warren F. Mogel
As of 03/31 /2008
Receipts Subsequent to Inventory
(Valued when received)
11/09/2005 Interim Residual Distribution From The Estate of Warren
F. Mogel $ 1,891.09
01/12/2006 Second Interim Residual Distribution FromThe Estate Of
Warren F. Mogel $ 1,389.40
04/17/2006 Third Interim Residual Distribution From The Estate Of
Warren F. Mogel $ 14,070.39
11 /30/2007 Refund Of Prepayment Of Real Estate Taxes
Paid By Kerns At Settlement $ 28.17
TOTAL RECEIPTS SUBSEQUENT TO INVENTORY $ 17,379.05
SUMMARY
Totallnventory $ 550,700.00
Total Receipts Subsequent To Inventory 17,379.05
TOTAL RECEIPTS OF PRINCIPAL $ 568,079.05
GAINS A~LOSSES ON SALES OR OTHER 61SP(~SITIONS
The Trust U/A Of Warren F. Mogel
For Period 12/19/1996 Through 03/31 /2008
10/02/2006 Timber Sale Proceeds
Net Proceeds $ 20,410.00
Fiduciary Acquisition Value 0.00
Net Gain
11/30/2007 Gross Sale Proceeds $64,725
Less
Realtor Commissions ($4,530.75)
Realty Transfer Tax ($647.25)
Miscellaneous Closing Costs ($165.37)
Clean & Green Costs ($1,383.80)
Net Sale Proceeds $57,997.83
Net Proceeds $ 57,997.83
Fiduciary Acquisition Value 79,025.00
Net Loss
11/30/2007 Gross Sale Proceeds $65,600
Less
Realtor Commissions ($4,592)
Realty Transfer Tax ($650.60)
Miscellaneous Closing Costs ($167.61)
Clean & Green Costs ($1,402.33)
Net Sale Proceeds $58,787.46
Net Proceeds $ 58,787.46
Fiduciary Acquisition Value 80,083.00
Net Loss
11/30/2007 Gross Sale Proceeds $62,125
Less
Realtor Commissions ($4,348.75)
Realty Transfer Tax ($621.25)
Miscellaneous Closing Costs ($158.73)
Clean & Green Costs ($1,328.23)
Net Sale Proceeds $55,668.04
Net Proceeds $ 55,668.04
Fiduciary Acquisition Value 75,851.00
Net Loss
11/30/2007 Gross Sale Proceeds $57,550
Less
Realtor Commissions ($4,028.50)
Gain
$ 20,410.00
Page 3
Loss
$ 21,027.17
21,295.54
20,182.96
GAINS AN~LOSSES ON SALES OR OTHER DISPOSITIONS
Page 4
The Trust U/A Of Warren F. Mogel
For Period 12/19/1996 Through 03/31/2008
Realty Transfer Tax ($575.50)
Miscellaneous Closing Costs ($147.04)
Clean & Green Costs ($1,230.05)
Net Sale Proceeds $51,568.91
Gain
Loss
Net Proceeds $ 51,568.91
Fiduciary Acquisition Value 70,244.00
Net Loss
Total Gains and Losses
Less Gain
18,675.09
20,410.00 81,180.76
20,410.00
Net Loss $ 60,770.76
DISBURSEMENTS OF PRINCIP~
The Trust U/A Of Warren F. Mogel
For Period 12/19/1996 Through 03/31/2008
Administration Expenses (Prin)
08/22/2007 Berks County Real Property Taxes
11/29/2007 Spring Township -Road Improvement For Subdivision Of
Berks County Real Estate
11/30/2007 1/2 of Various Subdivision Costs/Improvements
12/31/2007 Notary Fee
02/27/2008 Vicki Kerns -Additional Subdivision Costs
Other Expenses (Prin)
11/30/2007 Tammac Corporations
- Face Value of Mortgage On Berks County Real Estate
TOTAL DISBURSEMENTS OF PRINCIPAL
$ 45.45
19,513.30
20,000.00
10.00
~~~nn
Page 5
$ 39,680.75
a~ n~a as
131, (~b.1U
DISTR~UTIONS OF PRINCIPAL TO BENEFICIi~RIES
The Trust U/A Of Warren F. Mogel
For Period 12/19/1996 Through 03/31/2008
To: Jean L. Mogel
Discretionary Principal Distribution Reasonably Necessary
For Usual & Normal Standard Of Living
11 /09/2005 Cash $ 1,891.09
01/12/2006 Cash 1,389.40
04/17/2006 Cash 14,070.39
Total for Jean L. Mogel
Page 6
$17,350.88
TOTAL DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES $ 17,350.88
• PRINCIPAL BALANCE ON HAN~
The Trust U/A Of Warren F. Mogel
As of 03/31 /2008
Current Carrying
Value Value
Checking Accounts
Trust Money Market/Checking Account $106,355.(14 $106,355.64
Other Real Property
Subdivided Lot 4, Spring Township, Berks County,
Pennsylvania 75,534.00 75,534.00
Subdivided Lot 5, Spring Township, Berks County,
Pennsylvania 78,601.00 78,601.00
Subdivided Lot 6, Spring Township, Berks County,
Pennsylvania 90,662.00 90,662.00
Miscellaneous Property
5 Units in First Capital Institutional Real Estate, Ltd-1
(a .0083333% interest) 700.00 700.00
$351,852.(14 $351,852.64
Less: Income balance on hand (6,369.fi7) (6,369.57)
PRINCIPAL BALANCE ON HAND $358,222.:?1 $358,222.21
Page 7
• INFORMATION SCHEDULES
The Trust U/A Of Warren F. Mogel
For Period 12/19/1996 Through 03/31/2008
Investments Made
Subdivided Lot 1, Spring Township, Berks County, PA
11/30/2007 Subdivided Lot 1, Spring Township, Berks County,
Pennsylvania
Subdivided Lot 2, Spring Township, Berks County, PA
11/30/2007 Subdivided Lot 2, Spring Township, Berks County,
Pennsylvania
Subdivided Lot 3, Spring Township, Berks County, PA
11/30/2007 Subdivided Lot 3, Spring Township, Berks County,
Pennsylvania
Subdivided Lot 4, Spring Township, Berks County,
11/30/2007 Subdivided Lot 4, Spring Township, Berks County,
Pennsylvania
Subdivided Lot 5, Spring Township, Berks County,
11/30/2007 Subdivided Lot 5, Spring Township, Berks County,
Pennsylvania
Subdivided Lot 6, Spring Township, Berks County,
11/30/2007 Subdivided Lot 6, Spring Township, Berks County,
Pennsylvania
Subdivided Lot 7, Spring Township, Berks County,
11/30/2007 Subdivided Lot 7, Spring Township, Berks County,
Pennsylvania
Changes in Investment Holdings
Berks County Real Property
11/30/2007 Subdivided Lot 1, Spring Township, Berks County,
Pennsylvania
11/30/2007 Subdivided Lot 2, Spring Township, Berks County,
Pennsylvania
11/30/2007 Subdivided Lot 3, Spring Township, Berks County,
Pennsylvania
$ 550,000.00
(79,025.00)
(80,083.00)
(75,851.00)
Page 8
$ 79,025.00
$ 80,083.00
$ 75,851.00
$ 75,534.00
$ 78,601.00
$ 90,662.00
$ 70,244.00
• INFORMATION SCHEDULES
The Trust U/A Of Warren F. Mogel
For Period 12/19/1996 Through 03/31/2008
11/30/2007 Subdivided Lot 4, Spring Township, Berks County,
Pennsylvania $ (75,534.00)
11/30/2007 Subdivided Lot 5, Spring Township, Berks County,
Pennsylvania $ (78,601.00)
11/30/2007 Subdivided Lot 6, Spring Township, Berks County,
Pennsylvania $ (90,662.00)
11/30/2007 Subdivided Lot 7, Spring Township, Berks County,
Pennsylvania $ (70,244.00)
Subdivided Lot 1, Spring Township, Berks County, PA $ 79,025.00
11/30/2007 Gross Sale Proceeds $64,725
Less
Realtor Commissions ($4,530.75)
Realty Transfer Tax ($647.25)
Miscellaneous Closing Costs ($165.37)
Clean & Green Costs ($1,383.80)
Net Sale Proceeds $57,997.83 (79,025.00)
Subdivided Lot 2, Spring Township, Berks County, PA $ 80,083.00
11/30/2007 Gross Sale Proceeds $65,600
Less
Realtor Commissions ($4,592)
Realty Transfer Tax ($650.60)
Miscellaneous Closing Costs ($167.61)
Clean & Green Costs ($1,402.33)
Net Sale Proceeds $58,787.46 (80,083.00)
Subdivided Lot 3, Spring Township, Berks County, PA $ 75,851.00
11/30/2007 Gross Sale Proceeds $62,125
Less
Realtor Commissions ($4,348.75)
Realty Transfer Tax ($621.25)
Miscellaneous Closing Costs ($158.73)
Clean & Green Costs ($1,328.23)
Net Sale Proceeds $55,668.04 (75,851.00)
Page 9
0.00
0.00
0.00
0.00
INFORMATION SCHEDULES
The Trust U/A Of Warren F. Mogel
For Period 12/19/1996 Through 03/31/2008
Subdivided Lot 7, Spring Township, Berks County,
11/30/2007 Gross Sale Proceeds $57,550
Less
Realtor Commissions ($4,028.50)
Realty Transfer Tax ($575.50)
Miscellaneous Closing Costs ($147.04)
Clean & Green Costs ($1,230.05)
Net Sale Proceeds $51,568.91
Refund Of Prepayment Of Real Estate Taxes
11/30/2007 Refund of Taxes Paid by Kerns At Settlement
$ 70,244.00
(70,244.00)
$ 28.17
(28.17)
Page 10
$ 0.00
0.00
RECEIPTS OF INCOME
The Trust U/A Of Warren F. Mogel
For Period 12/19/1996 Through 03/31/2008
Other Income
Interim Residual Distribution From The Estate
11/09/2005 Income Distribution From The Estate of Warren F. Mogel
01/12/2006 Income Distribution From The Estate of Warren F. Mogel
04/17/2006 Income Distribution From The Estate of Warren F. Mogel
Total Other Income
TOTAL RECEIPTS OF INCOME
3,870.15
110.60
Q7Q F1
4,910.36
Page 11
$ 4,910.36
$ 4,910.36
DISBURSEMENTS OF INCOM~ Page 12
The Trust U/A Of Warren F. Mogel
For Period 12/19/1996 Through 03/31/2008
Other Taxes
11 /30/2007 Berks County Tax Claim Bureau
Rescission Of Clean and Green Taxes On Lot 4 $ 1,322.68
11/30/2007 Berks County Tax Claim Bureau
Rescission Of Clean and Green Taxes On Lot 5 1,376.40
11/30/2007 Berks County Tax Claim Bureau
Rescission Of Clean and Green Taxes On Lot 6 1,587.58
03/24/2008 Lillian B. Cransey, Tax Collector
- Real Property Taxes Spring Township, Berks County
- Retained 3 Lots 2,082.91
$ 6,369.57
TOTAL DISBURSEMENTS OF INCOME $ 6,369.57
DIS~BUTIONS OF INCOME TO BENE~IARIES Page 13
The Trust U/A Of Warren F. Mogel
For Period 12/19/1996 Through 03/31/2008
To: Jean L. Mogel
Mandatory Income Distribution
11!09/2005 Cash $ 3,870.15
01/12/2006 Cash 110.60
04/17/2006 Cash 929.61
Total for Jean L. Mogel $4,910.36
TOTAL DISTRIBUTIONS OF INCOME TO BENEFICIARIES $ 4,910.36