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Home My WebLink About06-24-08 n ;~., <- ~ 0 ~ ~ ~' \~~ -c3 -t~ ~ . n ~ ~~ ~ ~ .=> ~~ . _ r._ --~ _ ~ _ `GJJ,~ ~`, ~ -, r-~; ;, ~~ ~-5. _~, - . _- FAMILY SETTLEMENT AND FINAL RELEASE ~ ~', `=' ~_ ~. IN -~ .__.. ESTATE OF LESLIE RICHARD SHOAP, DECEASED KNOW ALL MEN BY THESE PRESENTS, that WHEREAS, Leslie Richard Shoap, late of Shippensburg, Cumberland County, Pennsylvania, deceased, died testate on December 8, 2;006, having first made his last will and testament, which was duly executed on October 4, 1995, and is duly recorded with the Register of Wills in Cumberland County, Pennsylvania; WHEREAS, the said Leslie Richard Shoap, by the aforesaid last will and testament, named John Kenneth Shoap as Executor of said last will and testament; WHEREAS, letters testamentary on the estate of the said decedent were duly issued on December 21, 2006 by the Register of Wills of Cumberland County, Pennsylvania, to the said Executor, hereinafter called personal representative; WHEREAS, the said personal representative has gathered the assets of the estate of the said decedent and the assets consist of both real property and personal property, to a total value •of $8,241,995, as set forth in Exhibit A, which is a statement of account of the said personal representative, and which is attached hereto and made a part hereof, and marked Exhibit A; WHEREAS, the debts and deductions, including the payment of inheritance tax in the said estate, amount to $3,354,863, leaving a balance for distribution. of $4,887,133, also as set forth in the statement of the said personal representative, which is attached hereto and marked Exhibit A; WHEREAS, the balance for distribution as shown in the said statement marked Exhibit A has been distributed as herein indicated in accordance with the terms of the last will and testament of the said decedent; NOW, THEREFORE, KNOW YE, that we, John Kenneth Shoap, Donald Ray Shoap, Kenneth Edmund Shoap, Richard Lee Shoap, Lindsey Elizabeth Shoap, and Matthew Brian Shoap, being all of the heirs under the last will and testament of the said decedent, and being those persons entitled to inherit under said last will and testament, do hereby, each of us, acknowledge that we have received from the aforesaid personal representative, in full satisfaction and payment of all sum or sums of money, Legacies, bequests, and devises as are given, devised and bequeathed to each of us respectively by the said last will and testament, the amounts due us under said last will and testament, which amounts we acknowledge having received, and which amounts are in the amount set opposite our respective names in the table and schedule of distribution in said statement attached hereto and marked Exhibit A; AND, each of us does hereby stipulate that in order to avoid the expense and time involved in the filing of a formal account and schedule of distribution, we each agree that no account 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 Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania. THEREFORE, we and each of us do hereby remise, release, quitclaim and forever discharge the said personal representative, John Kenneth Shoap, heirs, executors, and administrators and assigns, of and from the said estate and from all actions, suits, payments, accounts, reckonings, claims, and demands whatsoever for or by reason thereof, or for any other use, matter, cause or thing whatsoever touching upon the estate of the said decedent, and each of us do further hereby covenant and agree that should any liability come due to the estate of the said decedent after the signing of this agreement, we and each of us do hereby covenant and agree with each other and the aforesaid personal representative that we will contribute pro rata our share of the estate to satisfy any and all claims, demands, suits, or causes of action which may be successfully prosecuted against the said estate or the aforesaid personal representative after the signing, sealing and delivery of this family settlement agreement and final release. FURTHER, it is agreed by each party to this Agreement and Release that: a. This Agreement and Release shall be indexed and recorded in the estate proceedings and that the terms hereof shall be binding upon each party's respective heirs, successors, ;administrators and assigns; b. This Agreement and Release shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania; c. The parties hereto agree to execute such other or additional documents as may be necessary to effectuate the agreements set forth herein; d. This Agreement and Release may be executed in separate counterparts and when duly executed by all parties hereto, shall constitute a single agreement bonding upon all such parties; EXHIBIT A COURT OF COMMON PLEASE OF CUMBERLAND COUNTY ORPHANS' COURT DIVISION SCHEDULE OF DISTRIBUTION ESTATE OF LESLIE RICHARD SHOAP ESTATE NO. 2006-01135 Balance of principal on date of death as shown by Estate Inventory: Personalty: $7,969937 Real Estate: $123,000 GROSS ESTATE ON DATE OF DEATH $8,092,937 Income of estate subsequent to date of death: Interest income: $18,026 Dividend income: $48,110 Capital gain: $82,922 TOTAL INCOME AFTER DEATH $149,058 GROSS ESTATE VALUE FOR DISTRIBUTION $8,241,995 Deductions and estate tax: Funeral/administration expenses: $ 12,359 Attorney's Fees: $ 20,000 United States Estate Tax: $2,359,941 Pennsylvania Inheritance Tax: $ 923,1 S9 Fiduciary income tax: $ 20,594 State fiduciary income tax: $ 4,578 Local Tax (fiduciary return): $ 1,082 Misc. itemized deductions (fiduciary return) $ 12,549 Exemption (fiduciary return) $ 600 TOTAL DEDUCTIONS: $3,354,862 TOTAL NET ESTATE: $4,887,133 Which is awarded as follows: ADVANCED DISTRIBUTIONS T'o John Kenneth Shoap: 7500 shares Altria/ MO $636,975.00 5200 shares Kraft Foods/ KFT $ 5,218.50 1500 shares General Electric/ GE $ 52,770.00 1230 shares Pfizer/ PFE $ 30,743.85 600 shares Walgreen/WAG $ 26,073.00 576 shares W.R. Wrigley/ WWY $ 30,113.50 861 shares AT&T/ T $ 17,469.00 TOTAL $799,362.85 To Donald Ray Shoap: 7500 shares Altria/ MO $636,975.00 5200 shares Kraft Foods/ KFT $ 5,218.50 1500 shares General Electric/ GE $ 52,770.00 1230 shares Pfizer/ PFE $ 30,743.85 600 shares Walgreen/WAG $ 26,073.00 576 shares W.R. Wrigley/ WWY $ 30,113.50 861 shares AT&T/ T $ 17,469.00 'COTAL $799,362.85 'To Kenneth Edmund Shoap: $ 50,000 'To Richard Lee Shoap: $ 50,000 'To Lindsey Elizabeth Shoap: $ 50,000 'To Matthew Brian Shoap: $ 50,000 'To John Kenneth Shoap: 50% of the residual net estate: $1,544,203.60 To Donald Ray Shoap: 50% of the residual net estate: $1,544,203.60 TOTAL DISTRIBUTION: $4,887,133 IN WITNESS WHEREOF, we have hereunto set our hands and seals this ~~ day of vc , 2008. ,/ L Kenneth Edmund Shoa ~6~~ p STATE OF PENNSYLVANIA SS COUNTY OF cum~U'ia:mod On this, the I I +~ day of n.~arc%, , 2008, before me, a Notary Public, the undersigned officer, personally appeared Kenneth Edmund Shoap, (known to me/satisfactorily proven) to be one of the persons whose names are subscribed to the within Family Settlement and Final 1Zelease in the Estate of Leslie Richard Shoap, Deceased, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. COMMONWEALTH OF PENNSYLVANIA ~ Notarial Seal }\j tart' Pu 11C Jamie L. McCrea, Notary Public Chambersburg i3oro, Franklin County My Commission Expires Nov.14, 2010 :My commission expires N ~J i y , ZO i ~ Member, Pennsylvania Association of Notaries [maintain my office in 1=rc:~r~~.i~n Co~~~-I-y Ll~. IN WITNESS WHEREOF, we have hereunto set our hands and seals this ~~ clay of ~ ! 2008. Donald Ray Shoa STATE OF ~/o~2r12 a, SS CUUNTY OF 7~OG. ~ On this, the ~ q~' day of ~, 2008, before me, a Notary Public, the undersigned officer, personally appeared Donald Ray Shoap, (known to me/satisfactorily proven) to be one of 1:he persons whose names are subscribed to the within Family Settlement and Final Release in the Estate of Leslie Richard Shoap, Deceased, and acknowledged he they executed the same for the purposes therein contained. TN WTTNF,SS WHEREOF. I hereunto set my hand and official seal. ~~ "" ~,: JO ANN COPPERMAN ''; MY COMMISSION # DD740884 EXPIRES December 10, 2011 153 fbrideNote 9e+v'r..*:~eM I mai'~nt~~'n my office in My commission expires iz~i%~i IN WITNESS WHEREOF, we have hereunto set our hands and seals this day of Dec... , 2007. 1 `~~I ti Lindsey Eli eth Shoap STATE OF ~~~ ~ 5~~ ~ ~, ~ ~ SS COUNTY OF ~~" ~+--^~~ s '~ lv~h =C 0 On this, the ~T ~Liay of ~ ~ c -~, 2007, before me, a Notary Public, the undersigned officer, personally appeared Lindsey Elizabeth Shoap, (known to me/satisfactorily proven) to be one of the persons whose names are subscribed to the within Family Settlement and Final Rf;lease in the Estate of Leslie Richard Shoap, Deceased, and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ~~~. Notary Public Niy commission expires - '..''~.,._~+' PENNSYLVANIA "~'; , :aria! Sea! '~;^{'Q, Notary Public -' ~ ~ -'ror Franklin County I malritairi my Office iri ,_ ~ _ r, ~".xpires Apr. 23, 2008 ~~ °-:~~Gigti~;~ of Notaries IN WITNESS WHEREOF, we have hereunto set our hands and seals this _ Z ~~ clay of 1~`~1 ~~, 2008. ~-Qv l~ and Lee Shoap Ma ew nan. ap STATE OF PENNSYLVANIA SS COUNTY OF FRANKLIN On this, the ~ 1 ~ day of ,~Yy~~ ; 2008, before me, a Notary Public, the undersigned officer, personally appeared Richard Lee Shoap and Matthew Brian Shoap, (known to me/satisfactorily proven) to be the persons whose names are subscribed to the within Family Settlement and Final Release in the Estate of Leslie Richard Shoap, Deceased, and acknowledged that they executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. `'Notary Public ~~ My commission expires COMMONWEALTH pF pENNSYLVAN~A NQfari~~l t;~a! Linda 1. it rtr,~. ,~,~tar}= ~'uhlic Cii'la7~fib€?rSdUry e-i,,rY, r'']'aC!!ffrn County I maintain my office in My corntnlsaion Expires Apr. 23, Zoos Member, Pennsylvania Association of Notaries IN WITNESS WHEREOF, we have hereunto set our hands and seals this .~ 7 /~ day of ~_, 2008. hn. Kennet Shoap STATE OF PENNSYLVANIA SS COUNTY OF On this, the 27~ day of ~ • , 2008, before me, a Notary Public, the undersigned officer, personally appeared John Kenneth Shoap, (known to me/satisfactorily proven) to be one of the persons whose names are subscribed to the within Family Settlement and Final Release in 'the Estate of Leslie Richard Shoap, Deceased, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ~~ COMA~ONWEAlTH OF PFNNSYLVA~ li:'~ o ary Public Atallrlel3~ai JeneAe L Men,, T+lotault PubNc My commission expires MD~0.C~rrbeAendCamY ~yCamt~aion Exp(tps June 14.2010 fiber, Pennsylvania Association of Noianes I maintain my office in 'j7 ~ K1r+C~ T• S-~cPPE Nsv~,i ~ ~~ ~~~7