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Home My WebLink About07-15-08 (2)~{ I~ ~.a~~ ~~ ~. ~l ~~ IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PA.n ~~' ORPHANS' COURT DIVISION ^O c_~. E~,~'~ N0. 21-07- 0487 `rte ,.;,-~ ~ - ~~ ' ~ ~ .3 4, ,•,~j _ _: ~ ~\ ~.~ /. \.. ,~1 ~_,,,/ ESTATE OF MIR IAM E. HOOVER, DECEASED ` -~ ~~ -~"` _ `~~ _____________ ______ _________________ ~ ._ _ -rt --------- -1 FIRST AND FINAL ACCOUNT OF `"a MANUFACTURERS AND TR ADERS TRUST COMPANY, EXECUTOR Date of Death: April 20, 2007 Date of Executor's Appointment: May 16, 2007 Date of First Complete Advertisement: The Sentinel: Cumberland Law Journal: May 28, June 4 & 11, 2007 June 8 & 15, 2007 Accounting for the period: April 20, 2007 to June 30, 2008 Purpose of Account: The Executor offers this Account to acquaint interested parties with the transactions that have occurred during the Administration. It is important that the Account be carefully examined. Requests for additional information, questions or objections can be discussed with: David C. Gority Manufacturers and Traders Trust Company 1 West High Street Carlisle, PA 17013 (717) 240-4505 Or Robert G. Frey, Esquire 5 South Hanover Street Carlisle, PA 17013 - 1 - SUMT~tARY OF ACCOUNT PRINCIPAL PAGES Receipts Net Loss on Sales or Disposition Less Disbursements: Funeral Expenses Debts of Decedent Federal State & Local Taxes Administration - Misc. Exp. Balance before Distributions Principal Balance on Hand For Information: Changes in Holdings INCOME Receipts Less Disbursements Balance before Distributions Distributions to Beneficiaries Income Balance on Hand COMBINED BALANCE ON HAND Proposed Principal Distributions Proposed Income Distributions Verification 3-4 $ 1,259,539.94 5 -1,010.74 $ 1,258,529.20 6 $ 8,054.90 6-7 19,613.97 7 680.00 7-8 62,024.42 -90,373.29 S 1,168,155.91 9 $ 1,168,155.91 10 11-12 $ 41,162.30 13 -1,787.70 $ 39,374.60 14 -20,000.00 15 $ 19,374.60 $ 1,187,530.51 ------------------ ------------------ 16 17 18 - 2 - PRINCIPAL RECEIPTS Assets Listed in Inventory (Valued as of Date of Death) Real Estate 25$ Interest School Road, County, PA 25~ Interest School Road, County, PA - Hoover Estate in 80 North Dickinson Dickinson Twp., Cumberland in 80 North Dickinson Dickinson Twp., Cumberland Received from Catherine P. Common Stocks 539 Shs. M & T Bank Corporation M & T Bank Portfolio Architect Account #201012969 Allstate Advantage Plus Annuity Allstate Advantage Plus Annuity Lincoln National Life Insurance Annuity - Payment Payable Prior to Date of Death Lincoln National Life Insurance Annuity Western Southern Annuity M & T Brokerage Account Money Market M & T Bank Checking Account #836982 - Date of Death Value Interest accrued to 04/20/07 M & T Bank Savings Account #15004212115049 - Date of Death Value FORWARD $ 325,092.29 325,092.30 61,082.18 58,379.85 $ 769,646.62 35,935.46 31,127.82 150.00 39,568.27 66,434.54 6,980.61 33,156.50 1.37 38,690.79 $ 1,021,641.98 - 3 - PRINCIPAL RECEIPTS (cont'd) FORWARD Received from Catherine P. Hoover Estate - Final Distribution Received from Catherine P. Hoover Estate - Income Distribution Valued as of Date of Death Refund of Highmark Blue Shield Premium SUBSEQUENT RECEIPTS CASH: 06/30/08 2007 Economic Stimulus Payment TOTAL PRINCIPAL RECEIPTS $ 1,021,641.98 233,530.98 3,808.68 258.30 $ 1,259,239.94 300.00 $ 1,259,539.94 - 4 - PRINCIPAL GAINS OR L033ES ON 3ALE3 OR OTHER DISPOSITIONS GAIN LOSS 08/22/07 539 Shs. M & T Bank Corporation Net Proceeds 60,071.44 Acquisition Value 61,082.18 $ 1,010.74 08/28/07 M & T Bank Portfolio Architect Account #201012969 Net Proceeds 58,379.85 Acquisition Value 58,379.85 09/28/07 50~ Interest in 80 North Dickinson School Road, Dickinson Twp., Cumberland County, PA Net Proceeds 650,184.59 Acquisition Value 650,184.59 TOTALS $ .00 $ 1,010.79 NET LOSS TRANSFERRED TO SUMMARY $ 1,010.74 --------------- --------------- - 5 - DISBURSEMENTS OF PRINCIPAL FUNERAL EXPENSES Carlisle Memorial Service, Inc. 10/04/07 Funeral Expense - Balance Due on Monument for Catherine and Miriam Hoover $ 1,500.00 Hoffman-Roth Funeral Home 05/23/07 Funeral Expense 6,554.90 $ DEBTS OF DECEDENT Alert Pharmacy Service 05/23/07 Prescription Drug Expense 4.64 Capital Area Health Associates 05/23/07 Medical Expense 131.00 Carolyn R. McOuillen, Tax Collector 08/28/07 School Real Estate Tax - Balance Due on 80 North Dickinson School Rd, Carlisle, PA 1,072.89 Gilbert Landscaping, LLC 10/15/07 Final Lawn Care 52.47 Marsh Advantage America 10/04/07 Master Trust Insurance Premium $ 1,686.50 10/19/07 Reimbursement of Unused Master Trust Insurance Premium -443.50 1,293.00 Met-Ed 10/29/07 Electricity Expense 5,gg Messiah Village 05/22/07 Nursing Home Expense - February & March, 2007 $ 13,441.20 05/23/07 Nursing Home Expense - April 1 - 16, 2007 3,601.00 17,042.20 FORWARD 8,054.90 $ 19,552.03 $ 8,054.90 - 6 - DISBURSEMENTS OF PRINCIPAL (cont'd) FORWARD $ 19,552.03 $ DEBTS OF DECEDENT (cont'd) NCO Financial Systems 10/31/07 Balance Due on Account Verizon 05/22/07 Telephone Expense FEDERAL STATE & LOCAL TAXES Internal Revenue Service 04/08/08 2007 Individual Income Tax - Balance Due Pennsylvania Deot of Revenue 04/08/08 2007 Individual Income Tax - Balance Due ADMINISTRATION - MISC. EXPENSES Cumberland County Register of Wills 05/16/07 Probate Costs - Letters Testamentary and 6 Short Certificates $ 714.00 12/27/07 Filing Fee - PA Inheritance Tax Return 15.00 12/27/07 Additional Probate Costs 150.00 Cumberland Law Journal 05/23/07 Cost of Advertising and Proof of Publication Smith, Elliot, Kearns & Comoanv LLC 05/15/08 Tax Preparation Fee The Sentinel 06/19/07 Cost of Advertising and Proof of Publication 46.21 8,054.90 15.73 19,613.97 38.00 642.00 680.00 879.00 75.00 340.00 130.42 FORWARD $ 1,424.42 $ 28,348.87 - 7 - DI3BUR3EMENT3 OF PRINCIPAL (oont'd) FORWARD $ ADMINISTRATION - MISC. EXPENSES (cont'd) RESERVES: Robert G. Frey, Esquire - Attorney Fee Manufacturers & Traders Trust Co. - Executor Fee Cumberland County Register of Wills - Filing Fee TOTAL DISBURSEMENTS OF PRINCIPAL $ 20,000.00 39,600.00 1,424.92 $ 1,000.00 60,600.00 28,348.87 62,029.42 S 90,373.29 --------------- --------------- - 8 - PRINCIPAL BALANCE ON HAND FIDUCIARY VALUE AT ACQUISITION 05/28/2008 VALUE CASH (AUTOMATICALLY INVESTED) $ 1,168,155.91 $ 1,168,155.91 TOTAL PRINCIPAL BALANCE ON HAND $ 1,168,155.91 $ 1,168,155.91 THE ABOVE CASH IS CURRENTLY INVESTED IN MTB Money Market-Inst I Fund #420 - 9 - CHANGES IN PRINCIPAL HOLDINGS ACCOUNT VALUE 50~ Interest in 80 North Dickinson School Road, Dickinson Two., Cumberland County, PA 0 Held as of Date of Death $ 325,092.29 0 Held as of Date of Death 325,092.30 09/28/07 Sold -650,189.59 0 S 0.00 ------------------ ------------------ M & T Bank Corporation 539 Shs. Held as of Date of Death $ 61,082.18 08/22/07 539 Shs. Sold -61,082.18 0 Shs. $ 0.00 M & T Bank Portfolio Architect Account #201012969 0 Shs. Held as of Date of Death $ 58,379.85 08/28/07 Sold -58,379.85 0 Shs. $ 0.00 --------------------- --------------------- ------------------ ------------------ - 10 - RECEIPTS OF INCOME Cash 05/22/07 Annuity Payment posted after Date of Death to M&T Checking Account Estate of Catherine P. Hoover 05/22/07 Final Income Distribution Hoover Farm - Co-Owner Share of Rent 08/07/07 Rental Income M & T Bank Checking Account #836982 05/22/07 Interest 05/22/07 Final Interest M & T Bank Corporation 07/13/07 Dividend 539 Shs. M & T Bank Portfolio Architect Account #201012969 10/01/07 Interest 11/14/07 Interest 12/27/07 Interest 01/03/08 Interest M & T Bank Savings Account #15004212115049 05/16/07 Interest M & T Brokerage Account Monev Market 07/13/07 Interest MTB Monev Market-Inst I-Fund #420 06/01/07 Interest 07/02/07 Interest 08/01/07 Interest 09/09/07 Interest 10/01/07 Interest FORWARD S 0.60 0.03 $ 13.32 90.19 0.07 0.23 103.81 39.46 99.78 $ 257.72 7,635.89 812.50 .63 323.40 $ 95.11 205.11 556.90 796.30 1,928.33 $ 3,081.75 $ - 11 - 9,268.19 RECEIPTS OF INCOME (cont'd) FORWARD S 3,081.75 $ 9,268.14 MTB Monev Market-Inst I-Fund #420 (cont'd) 11/01/07 Interest 12/03/07 Interest 01/02/08 Interest 02/01/08 Interest 03/03/08 Interest 04/01/08 Interest 05/01/08 Interest 06/02/08 Interest 4,012.87 4,307.42 4,679.27 4,952.66 3,574.46 3,000.31 2,982.76 2,302.66 31,894.16 TOTAL RECEIPTS OF INCOME $ 41,162.30 --------------- --------------- - 12 - DISBURSEMENTS OF INCOME Manufacturers and Traders Trust Comoanv 11/15/07 Commission 12/17/07 Commission 01/15/08 Commission 02/15/08 Commission 03/17/08 Commission 09/15/08 Commission 05/15/08 Commission 06/16/08 Commission Catherine P. Hoover Estate 11/16/07 To Cover Fees TOTAL DISBURSEMENTS OF INCOME $ 240.77 258.45 280.76 267.16 214.96 180.02 148.97 138.16 $ 1,728.75 58.95 $ 1,787.70 -------------- -------------- - 13 - DISTRIBUTIONS OF INCOME TO BENEFICIARIES Carlisle Area Health & Wellness Fdn 12/28/07 Distribution S 20,000.00 TOTAL DISTRIBUTIONS OF INCOME TO BENEFICIARIES $ 20,000.00 --------------- --------------- - 14 - INCOME BALANCE ON HAND CASH (AUTOMATICALLY INVESTED) FIDUCIARY VALUE AT ACQUISITION 05/28/2008 VALUE $ 19,374.60 $ 19,374.60 TOTAL INCOME BALANCE ON HAND $ 19,374.60 $ 19,379.60 ------------------ ------------------ ------------------ ------------------ THE ABOVE CASH IS CURRENTLY INVESTED IN MTB Money Market-Inst I Fund #420 - 15 - PROPOSED PRINCIPAL DISTRIBUTION SCHEDULE Market Value Fiduciary as of Acquisition 05/28/2008 Value Carlisle Area Health & Wellness Foundation - Entire Residue as per Paragraph 3 of the Will MTB Money Market-Inst I-Fund #920 - Principal Cash S 1,168,155.91 $ 1,168,155.91 $ 1,168,155.91 S 1,168,155.91 TOTAL $ 1,168,155.91 $ 1,168,155.91 ---------------- ---------------- ---------------- ---------------- - 16 - PROPOSED INCOME DISTRIBUTION SCHEDULE Market Value Fiduciary as of Acquisition 05/28/2008 Value Carlisle Area Health & Wellness Foundation - Entire Residue as per Paragraph 3 of the Will MTB Money Market-Inst I-Fund #420 - Income Cash S 19,374.60 S 19,374.60 $ 19,374.60 S 19,379.60 TOTAL $ 19,374.60 $ 19,374.60 ---------------- ---------------- ---------------- ---------------- - 17 - VERIFICATION MANUFACTURERS AND TRADERS TRUST COMPANY, Executor of the Will of MIRIAM E. HOOVER, Deceased, hereby declares under oath that it has fully and faithfully discharged the duties of its office; that the foregoing First and Final Account is true and correct and fully discloses all significant transactions occurring during the accounting period; that all known claims against the Estate have been paid in full; that, to its knowledge, there are no claims outstanding against the Estate; that all taxes presently due from the Estate have been paid; and that the grant of Letters Testamentary and the first complete advertisement thereof occured more than four months before the filing of the foregoing First and Final Account. This statement is made subject to penalties of 18 Pa. C.S.A. Section 4909 relating to unsworn falsification to authorities. l.. Man acturers and rad rs Trust Company Dated: ~~ Subscribed and sworn to by before me this~day of (.L 2008. ~~.~.~,, Notary Public GG~(Ji1viONWEALTH OF PENNSYLVANIA Notarial Seal Gwendolyn E. Killian, Notary Public Carlisle Boro, Cumberland County My Commission Expires Nov. 22, 2008 Member, Pennsylvania Association Of Notaries - 18 -