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HomeMy WebLinkAbout05-30-08FAMILY SETTLEMENT AGREEMENT IN THF, ESTATF, OF ANNA E. MENTZER, llECEASEll ~~,iu'7 - '1/y AUREEMI?NT executed the day- and year herealter written by and between DOROTHY A. O'HARA and KUSSELh E. ML'NTLER, Co-Ixecutors of the Estate of ANNfI Is. rya MENZTER, deceased, and DOROTHY A. O'IIARA and RUSSELL 1 MEN~ZER, hei~~ and ~~ beneficiaries of the Estate ofANNA E. MENTLL'R. ~~ -~ _;~; - ~-- -- w - - c~ - _- WIII~;RI:AS, ANNA E. MENT/.ER, laic ot~the Borough of Carlisle, Cumljcr~d C~atnty,`~~ ~. . _. Pennsylvania, died on April 5, 2007, having Iclt a Last Will and '1'esta.ment dated~~ebruar3; 27, - _~ 1994; ~~~~c- WHEREAS, on August 8, 2007, the Register of Wills in and for the County ot~ Cumberland, Commonwealth of Pennsylvania, did constitute and appoint DOROTHY A. O'HARA and RUSSELL E. MENTIL'R, as Co-Executors of the Estate of ANNA E. MENTLF.R in PA Estate Number 21-07-0714 and Cumberland Counr.y estate no. 2007-00714 upon the probating of the aforesaid Last Will and "testament, and WHEREAS, the Co-Executors have proceeded with the administration of said 1?state consisti~lg of assets in the amount of $63,372.78, less disbursements of principal of $13,9 X2.41, less in kind distributions of non-probate assets totaling $8,000.00, creating an insolvency that was paid from the Co-I?xecutor, Dorothy O'Hara's separate funds in the amount of $8,559.63, leaving no funds to distribute to beneficiaries, as set forth in the First and Final Account, a true and correct copy ofwhich is attached hereto and made part hereof as Exhibit "A", and WHF_,RF,AS, the only parties in interest in said I?state arc the above-named parties, and WHEREAS. said parties in interest desire that the Co-Executors shall not be reduired to file an Account with the Orphans Court of Cumberland County, Pennsylvania, and that the net estate of the decedent shall be distributed without the necessity of Tiling a formal Account to avoid the expense, delay and publicity of a lormal accounting, but should instead be distributed in accordance with the Co-Executors' Proposed Schedule of Distribution, a true and correct copy of which is attached hereto and made a part hereof as Exhibit "B". ~t"1 NOW THEREFORE, in consideration of the mutual promises, covenants and agreements recited herein, the above-named heirs and beneficiaries of the Estate of ANNA E. MENTZER does hereby mutually agree as follows: 1. The parties hereto, and each of them, agree and acknowledge that they have fully and carefully examined the First and Final Account of DOROTHY A. O'HARA rend RUSSELL E. MENZTER, Co-Fxxecutors for the Estate ofANNA L. MENZTER, deceased, and Proposed Schedule of Distribution relating thereto, both of which are attached hereto, and find them to be true and correct, and acceptable to the parties hereto and each of them, and further that each of them has received a copy of this Family Settlement and Final Release and of said Account and Proposed Schedule of Distribution. 2. The parties hereto hereby agree that in order to avoid the expense, delay and publicity involved in the filing of a formal Account and Schedule of Distribution. no accounting to the Court is necessary and we do hereby agree that we do consent to distribution being made without the filing of an Account and Schedule of Distribution. the same to be with the same force and effect as if they had been filed and confirmed by the Orphan's Court Division of the Court of Common Pleas of Adams County, Pennsylvania. 3. The parties hereby remise, release, quitclaim and forever discharge the Estate of ANNA E. MENZTER, and DOROTHY O'IIARA and RUSSIiLL MENZTER, Co- Executor, their heirs, executors, administrators and assigns, from all manner of acts, suits, claims, accountings, debts and demands whatsoever which we or any of us or our Icgal representatives or assigns may at any time hereafter have against said Co-Executors, the estate, or assets thereof, touching or concerning the I?state of the Decedent. 4. "fhe parties hereto covenant and agree that they will contribute their share of the Estate to satisfy all claims, debts, demands, suits or cause of action which may be successfully brought against the Estate or the Co-Executors after the execution of this Family Settlement and Final Release. 5. The parties hereto hereby agree that they will at all times in the future and wherever necessary, appropriate or convenient, made, execute and deliver to said Co- Executors, and/or to the other party or persons, any and all instruments, documents, conveyances, deeds, releases or other instruments of any kind necessary or convenient to carry out the intention of this Family Settlement and Final Release. 6. This Family Settlement and Final Release constitutes the entire understanding among the parties hereto, and each of them acknowledges that no representations or statements of any kind, written or oral, have been made to them or any of them prior hereto by the Co-Executors or any other person or party upon their behalf. 7. This Family Settlement and Final Release shall inure to the benefit and shall bind the parties hereto, and each of them, their heirs, executors, administrators, successors and assigns. 8. This Family Settlement and Final Release shall be governed by the laws of the Commonwealth of Pennsylvania. IN WITNESS WHEREOF, the parties hereto have hereunto set their respective hands and seals the day and year first above written. r Date DOROTHxi4. O'HARA Co-Executor ~~~,~ ~~ Date RIISS~LL .E. MF.NTLE Co-Executor Date DOROTIIYA':~O'IIARA Individually as heir and beneficiary Date RUSSELL ~E. MLN TE Individually as heir and beneficiary WITNESSI?TH: FIRST AND FINAL ACCOUNT OF DOROTHY A. O'HARA and RUSSELL E. MENZTER, CO-EXECUTORS OF THE ESTATE OF ANNA E. MENZTER, Deceased Date of Death: Apri 1 5, 2007 Date of Executors' Appointment August 8, 2007 Accounting for the Period of'April 15, 2007 to Jun~c , 2008 Purpose of Account: DOROTHY A. O'HARA and R U,SSELL E. MEN7TEK, Co-Executors of the Estate of ANNA E. MENZTER, offer this Account to acquaint interested parties with the transactions that have occurred during their administration of the Estate for the accounting period indicated above. The Account also indicates the proposed distribution of the Estate. It is important that the Account be carefully examined. Request for additional information or questions or objections can be discussed with: Bradley L. Griffie, Esquire GRIFFIE & ~ SSOCIA TES 200 North Ilanover Street Carlisle, PA 17013 (717) 243-5551 (800) 347-5552 ~~xxlsrr ~°n~~ SUMMARY OF ACCOUNT Principal -Total Assets Less Disbursements of Principal Less in Kind Distributions of Non-probate asset Personal contribution from Co-Executor Dorothy O'Hara 63,372.'78 $ (-) 13,932.41 $ (-) 58,000.00 8,559.63 TOTAL Cash Available for Distribution $ 0.00 RFCFIPTS OF PRINCIPAL CASH and BANK ACCOUNTS M&T Bank Checking Account #6173334 ..................................$2,065.78 Subtotal PERSONAL PROPERTY $2,065.78 Personal property auctioned ............................................. $3,307.00 Subtotal $3,307.00 NON-PROBATE PROPERTY REAL ESTATE Subtotal Jointly owned with Dorothy A. O'llara as joint tenants with the right of survivorship 262 Arch Street Carlisle, PA 17013 Total Value $116,000.00 Taxable value to estate ..................... $58.000.00 $58,000.00 TOTAL ASSETS ACCOUNTED FOR: $63,372.78 DISBURSEMENTS OF PRINCIPAL DEBTS OF DECEDENT Borough of Carlisle (water and sewer) ..............................$1.8.86 UGI (Gas Service) ......................................................................$148.33 PHAR America (prescription) ...................................................$148.81 SUBTOTAL: $ 316.00 FUNERAL EXPENSES Hoffman-Roth Funeral Ilome, Inc .........................................$ 8,152.10 SUBTOTAL: $8,152.10 ADMINISTRATION EXPENSES Attorneys fees to GRIFFIF, & ASSOCIAI'ES .......................$ 2,000.00 Probate Fees ...........................................................................$ 2'.07.00 Advertising -The Sentinel ..................................................$ 158.62 Advertising -Cumberland Law Journal ................................$ 75.00 Cost of auctioning personal property .........................................$E~32.50 Borough of Carlisle (water and sewer) ........................................x',18.86 PPL Electric Utilities ...................................................................~'~ 16.91 SUBTOTAL: PENNSYLVANIA INHERITANCE TAX Tax paid ........................................................... TOTAL DISBURSEMENTS $ 3,108.89 ...............$ 2,355.42 $ 2,671.42 IN KIND DISTRIBUTIONS Non-probate assets retained by .............................................$58,000.00 Joint owner, Dorothy A. O'Hara 262 Arch Street Carlisle, PA 17013 PROPOSED SCHEDULE OF DISTRIBU7CION Assets for Distribution Cash on Hand .................................................................................,$0.00 TOTAL: $ 0.00 No cash on hand or other estate assets are available (or distribution. Estate was insolvent and debts were paid through personal contribution of Dorothy A. O'Hara. No distribution will be made to heirs. b;XHIBIT "[3"