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HomeMy WebLinkAbout08-29-08t ! _I REV-1500 EX (06-05) 15056041158 PA Department of Revenue OFFICIAL USE ONLY Bureau of Individual Taxes County Code Year File Number Po eox 2aosol INHERITANCE TAX RETURN 21 07 1128 Harrisburg, PA 17128-0601 RESIDENT DECEDENT ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death Date of Birth •242-1,2-0275 11302007 11291921 Decedent's Last Name MORROW Suffix Decedent's First Name PAUL (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name Spouse's Social Security Number - - THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS FILL IN APPROPRIATE BOXES BELOW MI M MI ^X 1. Original Return ^ 2. Supplemental Return ^ 3. Remainder Return (date of death ^ 4. Limited Estate ^ 4a. Future Interest Compromise (date of d th prior to 12-13-82) ^ 5, Federal Estate Tax Return Re uired ^X 6. Decedent Died Testate (Attach Copy of Will) 7. ^ ea after 12-12-82) Decedent Maintained a Livin Trust (Attach Copy of Trust) g q ~- 8. Total Number of Safe Deposit Boxes ^ 9. Litigation Proceeds Received ^ 10. Spousal Poverty Credit (date of death between 12-31-91 and 1-1-95) ^ 11. Election to tax under Sec. 9113(A) (Attach Sch. O) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number RICHARD C. SNELBAKER, ESQUIRE ru 717-697-8528 Firm Name If ( Applicable) %'; ~'=-~' , ~ -_C-1 SNELBAKER & BRENNEMAN, P. C. REGISTEROFiIVIJL~USEONL~°_ First line of address n ~ ,. ~_;, ~~ 44 WEST MAIN STREET I' ~ Second line of address .~; _ , r-• --. _,... P . 0 . BOX 318 T~~-~ ~' City or Post Office State ZIP Code s> tv DATE FILED ~ MECHANICSBURG PA 17055 -- -~ Correspondent's e-mail address: Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of prepar~+ rod~er than the personal representative is based on all information of which preparer has any knowledge. JIUIVHIUKL•-~JF F~FRS(IALGFCDlIAlcioi ~rn~'~ _ o~~ _ DRE CYNTHIA A. GORSKI, EXECUTRI) O~P~~ OTHER THAN REPRESENTATIVE Zq-C~~ E, CARL p q 17015 Y 15056041158 6M4647 3.000 Side 1 15056041158 [ ~ J 15056042159 REV-1500 EX Decedent's Social Security Number ~ecedent'sNameMORR01tl 242-12-0275 pA II RECAPITULATION M 1. Real estate (Schedule A) , .1. 2. Stocks and Bonds (Schedule B) . ~ ' ~ ~ .2. 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) . ~ • 0 0 3 4. Mortgages & Notes Receivable (Schedule D). 0.00 . .4. O o o 5. Cash, Bank Deposits 8 Miscellaneous Personal Property (Schedule E) • . 5 6. Jointl Owned Pr Y operty (Schedule F) ®Separate Billing Requested 48728.73 g. 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property 0 • 0 0 (Schedule G) ~ Separate Billing Requested 7. 8. Total Gross Assets (total Lines 1-7). 217661 • 69 .a. 266390.42 9. Funeral Expenses & Administrative Costs (Schedule H) . , ••..9. 9075.67 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I). . 10~ 11. Total Deductions (total Lines 9 & 10) . 2820.22 , •~11. 11895.89 12. Net Value of Estate (Line 8 minus Line 11) . 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which 12 254494.53 an election to tax has not been made (Schedule J) . . . 13. 0.00 14. Net Value Subject to Tax (Line 12 minus Line 13) . .. 14. 254494.53 TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) X .00_ 16. Amount of Line 14 taxable ~ ~ 0 0 15. 0 , 0 0 at lineal rate X .04.5 17. Amount of Line 14 taxable 2 5 4 4 9 4. 5 3 1 s. 114 5 2.2 5 at sibling rate X .12 18. Amount of Line 14 taxable ~ ~ 0 0 17 Q , D O at collateral rate X .15 ~ . nn 18. 19. TAX DUE . 19. 0.00 11452.25 20. FILL IN THE BOX IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT Side 2 L 15056042159 6M4646 2.000 15056042159 J ` REV-1505 EX Page 3 Decedent's Complete Address: Foie Number DECEDENTS NAME 112 8 STREET ADDRESS CITY Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) 2. Credits/Payments A. Spousal Poverty Credit 0 • 0 0 B. Prior Payments 9 0 0 0 0 C. Discount 4 5 0.0 0 STATE ZIP (1) 11452.25 3. Interest/Penalty if applicable Total Credits (A + g + C) (2) 9 4 5 0. 0 0 D. Interest 0 0 0 E. Penalty 0 • 0 0 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.resvFenalty (D + E) (3) 0.00 Fill in box on Page 2, Line 20 to request a refund. (4) 0 0 0 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAx DUE. (5) 2002.25 A. Enter the interest on the tax due. (5A) 0.0 0 B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (56) 2002.25 Make Check Payable to: REGISTER OF IMLLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a t f rans er and. a. retain the use or income of the property transferred; b r t i Yes ^ ^ . e a n the right to designate who shall use the property transferred or its income; ^ c. retain a reversionary interest; or . ~ d ^ . receive the promise for life of either payments ben fit , e s or care? 2. If death occurred after December 12, 1982, did decedent transfer ^ ^ property within one year of death without receiving adequate consideration? . ^ 3. Did decedent own an "in trust for" or a bl p ya e upon death bank account or security at his or her death? . 4. Did decedent own an Individual Reti ^ ^ rement Account, annuity, or other non-probate property which contains a beneficiary desi n t' ~ g a ion. 0 ^ IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is three (3) percent [72 P.S. §9116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero 0 [72 P.S. §9116 {a) (1.1) (ii)]. The statute does not -Yp~.,..+ a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. ()Percent For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for use of a natural parent, an adoptive parent, or a stepparent of the child is zero (O) percent [72 P.S. ~9116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half 4.5 72 P.S. §9116(1.2) [72 P.S. ~9116(a)(1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve 12 ( )Percent, except as noted in under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. ( )percent [72 P.S. F9116(a)(1.3)]. Asibling is defined, 6 M4671 1.000 ~ REV-1508 EX + (6.g8j COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDEM ESTATE OF SCHEDULE E CASH, BANK DEPOSITS, 8 MISC. PERSONAL PROPERTY Paul M. Morrow FILE NUMBER Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the ri ht 21 0 7 112 B g of survivorship must be disclosed on Schedule F. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1 AARP refund on membership 16.11 2 Bank of America checking account, #1428744541 2,969.31 Interest accrued to 11/30/2007 3 Blue Cross Insurance 0.09 refund unused insurance premium 66.80 4 Brooksville Healthcare refund from nursing home in Florida 290.00 5 Commerce Bank statement savings account, #627017742 19,162.54 6 Commerce Bank checking account, #537670580 1,124.43 Interest accrued to 11/30/2007 0.05 7 Commerce Bank checking, account #537669624 11,579.55 Interest accrued to 11/30/2007 0.48 8 Conseco refund unused premium on long term care insurance 2,310.00 9 Economic Stimulus Refund tax refund 600.00 10 Household goods retained by family - $3,452.00 3,927.00 household items sold - $475.00 11 Internal Revenue Service refund due the decedent on 2007 Final Individual Inco 3,714.00 me Tax Return 12 Lincoln Financial Group annuity payment due the decedent 609.23 13 Social Security Administration social security benefit 1,273.00 ~ Total from continuation schedules 1,086.14 TOTAL Also enter on line 5 Reca itulation $ 48 , 728.73 3wasgo i.ooo (If more space is needed, insert additional sheets of the same size) Estate of. Paul M. Morrow Schedule E (Page 2) Item No. Description - •s 14 Terminix refund due the decedent on terminated contract 15 West Shore EMS refund on ambulance services Total (Carry forward to main schedule) 242-12-02-75 Value at Date of Death 99.50 986.64 1,086.14 REV-1509 EX+t6-gg~ COMMONWEALTH OF PENNSYLVANIA INHERffANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHEDULE F JOINTLY OWNED PROPERTY Paul M. Morrow FILE NUMBER If an asset was made joint within one year of the decedent's date of death, it must be reported on Schedule G. 07 112 8 SURV KING JOM1T TENANT(S) NAME •-.e ADDRESS RELATIONSHIP TO DECEDEM A Pawelczyk, Nancy A 18500 Hannan, New Boston, MI 48164 Daughter JOINTLY-0WNED PROPERTY: RHN LETrER DATE FOR JOIN MADE NUMBER TENANT JOIN7 1 INCLUDE NAM E OF FINANC IAL INSTITUTION AND BANK ACCOUNT NUMBER OR SIMILAR IDENTIFYING NUMBER. ATTACH DEED FOR BB&T Certificate of deposit, #845612595 - $28,194.65 Certificate of deposit, #845856419 - $3,634.46 These accounts are jointly held with the Decedent's daughter Nancy A. Pawelczyk. Values are determined using the attached letter dated 5/21/07. The Executrix is unable to obtain date of death values. A separate billing should be sent to the joint owner for any taxes due. DATE OF DEATH VALUE OF ASSET 31,829.11 p OF DATEOF DEATH DECaS VALUE OF INTEREST DECEDENTS INTEREST 0.00 (IF more space is needed, insert adddional sheets of the same sizes) n 0 • 00 3W46AE 1.000 BB&T May 21, 2007 Re: Paul M Morrow Geraldine R, Morrow At the current time Paul Morrow has three accounts with our Financial Institution, listed below are account numbers, balances, and titling Branch Banking & Trust Co. 11234 Spring Hill Dr. Spring Hill, FL 34609 (352) 686-2775 of accounts. Account~,~ Type Acct. Balance Titling 0000845611548 Certificate 5,270.05 Joint: Paul M. Marrow Matures 08/14/2008 ~` ~~~~~ ~` ~~ '-f-~~C~: Q,r}'~~~ Geraldine R. Morrow ... 0000845612595 Certificate 28~1;94w65 Joint: Nancy A. Pawelczyk Matures 09/27/2003 Paul M. Morrow 0000845856429 Certificate 3,634.46 Joint: Nancy A. Pawelczyk Matures 07/25/2010 Paul M. Morrow If I can be of any further assistance you may write me at the address above. Thank u ,fit .'~~'" / L nda Trenchard Relationship Banker ~ REV-1510E~X+(6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE G INTER-VIVOS TRANSFERS 8~ MISC. NON-PROBATE PROPERTY 21 07 1128 This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes. DESCRIPTION OF PROPERTY ITEM INLYLDE7FENMAEOFTFETRANSFEREE,THEIRRELATIONSHIPTODECEDENTAND DATE OF DEATH %OFDECD'S EXCLUSION JMBE TFE DATE OFTRAt•SFER A7TPGFIq OOpy OF TFE DEED FOR REAL ES?ATE. TAXABLE VALUE OF ASSET INTEREST ~ iF°,,PPUCAaLE 1• American Equity Investment Life VALUE Insurance Company 11,797.94 100.0000 annuity account, #042311 0.00 11,787 94 2 Henry Ford Health System Pension Plan Post retirement Death Benefit 8,000.00 100.0000 (designated beneficiary is Cynthia Gorski). 3 Lincoln Financial Group 124,708.55 100.0000 annuity account, #97-5084352 (designated beneficiaries are Cynthia A. Gorski and Nancy A. Pawelczyk) 4 Lincoln Benefit Life Company annuity account, #LBF1127879 (designated beneficaries are Cynthia A. Gorski, Nancy A.Pawelczyk, Paula B. Morrow and Sherry G. Shields) 5 Lincoln Benefit Life Company annuity account, #LBF1172337 (designated beneficiaries are Cynthia A. Gorski, Nancy A.Pawelczyk, Paula B. Morrow and Sherry G. Shields) 45,630.0 0 100.0000 27,525.201100.0000 TOTAL (Also enter on line 7, Recapitulation) I $ 3W46AF 1.000 (If more space is needed, insert additional sheets of the same size) 0.00 8,000.00 0.00 124,708.55 0.00 0.00 45,630.00 27,525.20 217,661.69 REV-1511 EX+(10.06) ` SCHEDULE H COMMONWEALTH OF PENNSYLVANIA FUNERAL EXPENSES & INHERITANCE TAX RETURN ADMINISTRATIVE COSTS RESIDENT DECEDENT eerwr~ nr _ _ ~... r.. ~ yr FILE NUMBER Pa 1 M. Morrow 21 07 1128 Debts of decedent must be reported on Schedule I. ITEM - NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: ' `° ~, Malpezzi Funeral Home, Inc. funeral services 2,668.69 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions 2,400.00 Name of Personal Representative(s) Cynthia A Gorski Street Address 1363 Shuman Drive City Carlisle State PA Zip 17015 Year(s) Commission Paid: 2. Attorney Fees Snelbaker & Brenneman, P. C ° 2,960.00 3. Family Exemption: (If decedent's address is not the same as Gaimant's, attach explanation) Claimant 4. 5. 6. 7. 1 2 Street Address City State Zip Relationship of Claimant to Decedent Probate Fees Accountant's Fees Tax Return Preparer's Fees Cumberland Law Journal advertising Executrix notice Joseph James Jewelers appraisal fee Total from continuation schedules 140.00 50.00 75.00 95.40 686.58 TOTAL (Also enter on line 9, Recapitulation)_ I $ 9 , 075 67 ~wasA~ ~.ooo (If more space is needed, insert additional sheets of the same size) Estate of: Paul M. Morrow Schedule H Part 7 (Page 2) 3 Register of Wills 242-12-0275 short certificates 12.00 4 The Sentinel advertising Executrix notice 174.58 5 Reserve for filing fees, accountant fees, and other miscellaneous fees associated with the administration of the decedent's estate 500.00 Total (Carry forward to main schedule) 686.58 ' REV-1512LiX+112-03) COMMONWEALTH OF PENNSYLVANIA INI-ERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHEDULEI DEBTS OF DECEDENT, MORTGAGE LIABILITIES, 8~ LIENS FILE Report debts incurred by the decedent prior to death which remain d e unpaid as of the date of death, incl uding unreimbursed medical expense ITEM s. NUMBER DESCRIPTION VALUE AT DAT 1' Burrick, Azizhan Internal Medicine OF DEATH medical services 35.98 2 Commerce Bank payoff visa credit card 307.44 3 Country Meadows Community resident/nursing care 91.75 4 Dailey Harvey Optical medical expense 20.00 5 East Penn Ambulance ambulance service 74.96 6 Health South Rehab medical expenses 1,000.00 7 Jackson-Siegelbalm Gastroenterologist medical expenses 50.00 8 M. Atfeh medical services 146.94 9 Mobile X-Ray Imaging medical services 69.73 10 Prism-Health South Rehab medical services 20.00 11 Verizon phone service 1.29 12 Veteran's Administration return benefit paid in error to Commerce Bank i sav ngs account #627017742 on 11/30/07 (included in d t a e of death balance) 115.00 13 West Shore EMS ambulance services 887.13 3 W46AH 2.000 TOTAL (Also enter on line 10, Recal (If more space is needed, insert additional sheets of the same size) 2,820.2 REV-1513 EX+ (g_00) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHEDULE J BENEFICIARIES FILE (UMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY RELATIONSHIP TO DECEDENT I TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers Do Not List Trustee(s) under Sec. 9116 (a) (1.2)) 1 Cynthia A. Gorski 1363 Shuman Drive Carlisle, PA 17015 Henry Ford Health System Pension Plan Inventory Value: 6,000.00 Lincoln Financial Group Inventory Value: 62,354.28 Household goods Inventory Value: 792.00 Lincoln Benefit Life Company Inventory Value: 11,407.50 Lincoln Benefit Life Company Inventory Value: 6,881.30 AMOUNT OR SHARE OF ESTATE ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET II NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET 3W46AI 1.000 (If more space is needed, insert additional sheets of the same sizel $ 0 • 00 Estate of: Paul M. Morrow Schedule J Part 1 (Page 2) Item No. Description 1 35$ of Residue as beneficiary of Testamentary Trust: 15,833.57 2 Nancy A. Pawelczyk 18500 Hannan New Boston, MI 48164 Lincoln Financial Group Inventory Value: 62,354.28 Household goods Inventory Value: 2,600.00 Lincoln Benefit Life Company Inventory Value: 6,881.30 Lincoln Benefit Life Company Inventory Value: 11,407.50 35~ of Residue as beneficiary of Testamentary Trust: 15,833.57 3 Paula B. Morrow 795 Asbury Road Candler, NC 28715 Lincoln Benefit Life Company Inventory Value: 6,881.30 Lincoln Benefit Life Company Inventory Value: 11,407.50 15~ of Residue as beneficiary of Testamentary Trust: 6,785.82 4 Sherry G. Shields 710 Bryson Road Candler, NC 28715 Lincoln Benefit Life Company Inventory Value: 6,881.30 Lincoln Benefit Life Company Inventory Value: 11,407.50 15$ of Residue as beneficiary of Testamentary Trust: 6,785.82 242-12-0275 Relation Amount .~ro Daughter 105,268.64 Daughter 99,076.64 Daughter 25,074.62 Daughter 25,074.62 ~°~. LAST WILL AND TESTAMENT OF PAUL M. MORROW I, PAUL M. MORROW, a resident of the City of Spring Hill, Hernando County, Florida, do hereby make and declare this instrument to be my Last Will and Testament, hereby revoking any and all Wills and Codicils I formerly may have made, except the Revocable Trust referred to in herein, if the same is determined to be testamentary. ARTICLE I: DISPOSITION OF REM~,INS It is my desire that my body be disposed of i.n accordance with the wishes of my family. ARTICLE II' PAYMENT OF DEBTS TAXES AND_COSTS OF MTNISTRA ION A• I direct my Personal Representative to pay from my residuary estate, as soon as convenient and practical, and without proration or apportionment, all claims or debts which I am legally obligated to pay at my death, including the costs of any last illness and funeral expenses, all Federal and other estate, inheritance, generation-skipping transfer, and other death taxes, together with any interest and penalties thereon, which may be levied or assessed by the United States, any state or territory thereof, or by any foreign government or political subdivision thereof, by reason of my death with respect to property included in my gross estate for estate tax purposes, whether disposed of by this Will or not, and other costs of administration of my estate. I further direct that my Personal Representative, in his or her sole discretion, pay from my domiciliary estate all or any portion of the costs of ancillary administration or similar proceedings in other jurisdictions. B• In the event the assets of my residuary estate are insufficient to pay such claims or debts, such Federal and other estate, inheritance, generation-skipping transfer,, and other death taxes, and such other costs of administration, or in the judgment of my Personal Representative the property available for payment of said claims, debts, costs and taxes should not be sold in order to make such payments, I direct my Fersonal Representative to call upon they.,,-T. ustee of the MORRO~W~~FAMILY REVOCABLE LIVING TRUST, dated the ~; '~ day of ~'~` ~ 1991, to make payment of those items or to provide fun s to my Personal Representative for this purpose. 1 T_ICLE III• DISPOSITION OF TANGIBLE P~ .SONAL PROPER Y A. I give and devise all of my tangible personal not otherwise disposed of and owned by me at the time ofpmypdeath to the then acting Trustee of the MORROW FAMILY REVOCABLE LIVING TRUST, dated the `~~ ~~ day of ~, now exists or is hereafter amended from ime to~time?' as it property shall be added to and become a part of the Said that Trust to be held, administered and distributed by thecTrustee of that Trust according to the terms and provisions of the Trust Agreement. B• I direct my Personal Representative to pay from my residuary estate all storage, packing, shi insurance costs, customs or duties, or othe recharges nine dent oto the preservation and distribution of any of my tangible personal property. ARTICLE IV • DEVISE OF R-F'~r INDER A. I devise all of the rest, residue, and remainder of my estate and property which is not otherwise disposed of, of whatever nature, real, personal, or mixed, and wherever situated, to which I am legally or equitably entitled, includin the life insurance policies which are payable to my es ate and all lapsed legacies and devises, after the payment of any debts, taxes, and costs of administration as previously instructed herein, to the then acting ~~r~stee of the MO OW FAMILY REVOCABLE LIVING TRUST, dated the~_ day of exists or is hereafter amended f om time to time199 Said spropertw shall be added to and become a part of the principal of that Trusty to be held, administered and distributed by the Trustee of that Trust according to the terms and provisions of the Trust Agreement. However, this devise and bequest of my residuary estate does not include any property over which I may have a power of a The receipt by said Trustee under said Trust Agreementpshallmbeta full acquittance and discharge to my Personal Representative for the property so distributed. Upon distribution to the Trustee, the administration of my estate shall cease with respect to the assets passing to the Trustee, and the Trustee shall not be subject to the control of the court in which this Will is probated. B• If for any reason the above described Trust shall not be in existence at the time of my death, or if for any reason a court of competent jurisdiction shall declare such Trust to be ineffective for the disposition of assets of my estate or declare this testamentary transfer to the Trustee of said Trust to be ineffective, I devise my residuary estate to the Trustee named in said Trust instrument, to be held, managed and distributed in the same manner and for the same terms and provisions described therein, giving effect to all valid amendments of said Trust in effect at the date of my death, and for this purpose I incorporate 2 by reference the Trust instrument forth herein, into this Will. as it now exists, as though set ARTICLE V- SIML17'TANEOUS DEATH For purposes of this Will, my spouse shall be conclusively presumed to have survived me if the order of death of myself and my spouse cannot be established by proof. With respect to any other persons, a person shall not be deemed to survive me if such person dies within sixty (60) days after my death, nor to survive another if such person dies within sixty (60) days after the death of such other person. ARTICLE VI' APPOINTMENT OF PERSC)NAL ~pRESENTATIVE Representative of my est te.GEIRAn the EeventMGERALDIN the Personal unwilling or unable to serve as the Personal RepresentatM~eROthen I hereby appoint CYNTHIA A. GORSKI as the First Successor Personal Representative of my estate. In the event CYNTHIA A. GORSKI is unwilling or unable to serve as the Personal Representative, then I hereby appoint NANCY A. PAWELCZYK as the Second Successor Personal Representative of my estate. In the event NANCY A. PAWELCZYK is unwilling or unable to serve .as the Personal Representative, then I hereby appoint DAVID GORSKI as the Third Successor Personal representative of my estate. B. In the event ancillary administration. is required to dispose of any property which I may own at the time of my death with a situs outside of the State of Florida, I hereby nominate and appoint my Personal Representative herein -named as such Ancillary Personal Representative; however, if said Personal Representative is not qualified to act as Ancillary Personal Representative under the laws of the state of the situs of such property, I authorize my Personal Representative to designate an Ancillary Personal Representative. C• Waiver of Bond: No Personal Representative named in this Article shall be required to furnish any bond or other security in any jurisdiction for the performance of their duties. ARTICLE VII: POWERS OF' PERSONAL REPRESENTATIVE In addition to the powers and discretion elsewhere granted in this Will and those conferred by law, I Representative the power and authority to do any ofothe following as my Personal Representative, in his or her unrestricted judgment and discretion, shall deem advisable for the better management, preservation and distribution of the property of my estate: 3 ~~~ A. To take possession of property, to accept property from sources outside of my estate and to segregate it from other property owned or held by my Personal Representative. B. To carry on and manage, in all respects, and retain any business enterprise in which I may be engaged at the time of my death, including any partnership, land trust, or unincorporated business, with the full power and authority to operate or join in the operation of such business enterprise as a going concern, to form or reform a general or limited partnership, to incorporate and reincorporate, to liquidate, wind-up or sell, to merge, readjust, consolidate or reorganize, or to appoint by proxy or vote the shares of any business enterprise or any part thereof. C. To sell, transfer, exchange, partition, improve, give option upon, lease, or rent all or any part either of the real or personal property, or both, at any time belonging to my estate, at public or private sale, for cash or on terms and conditions acceptable to my Personal Representative. D. To borrow money and to pledge, mortgage, or otherwise belongingato my estate t of the real or personal property, or both, E. To pay, compromise, adjust, settle, compound, renew,. discharge, abandon, or submit to arbitration claims held by my Personal Representative and claims asserted against my Personal Representative, on whatever terms and conditions he or she deems advisable in his or her absolute discretion. F. To transfer any tangible personal property owned by me at my death to the then acting Trustee of the MORROW FAMILY REVOCABLE LIVING TRUST, dated the ,_ ~ _ day of - 1991. G. To use any of the settlement options named under policies of life insurance which may be owned by me or which may be payable to my estate or to my Personal Representative; provided, however, no Personal Representative who is the insured of any insurance policy held by my estate or any trust created hereunder, shall have the power to exercise any rights or have any incidents of ownership with respect to such policy, to assign the policy, to revoke an assignment, to pledge the policy for a loan, or to obtain from the insurer a loan against the surrender value of the policy. H. To exercise the election to take income tax deductions or estate tax deductions wherever the law permits such an election, in such manner as my Personal Representative, in his or her sole discretion shall determine after taking into account the total tax liability of the estate and the beneficiaries thereto. There shall be no reimbursement or adjustment of the account of the estate either as to income or principal or otherwise, or of the shares of 4 j.`~ ~,`: ~~; beneficiaries in income or principal, by reason of the exercise of that election by my Personal Representative; and such e1 ection shall be conclusive and binding upon all parties. I exonerate my Personal Representative from all liability for any such election and direct that no beneficiary shall have any claim against him or her or my estate for the exercise of my Personal Representative's judgment in this respect. '~"° I. Without duty to give or obtain consideration therefore, to join with my spouse or my spouse's estate in the filing of any Federal income tax return for any year for which I have not filed such return prior to my death, and consent to any gifts made by my spouse as being made half by me for the purposes of the Federal gift tax law, even though such action may result in additional liabilities for my estate; and any income and gift taxes due on such returns, and any deficiencies, interest or penalties thereon shall be allocated between my estate and my spouse or my spouse's estate or all to any of them, in such manner as my Personal Representative, in his or her sole discretion, sha:11 deem equitable and proper. J. To allocate the Generation Skipping Transfer Exemption, as that term is defined in the Code, to any property as to which I am the transferor, including any property transferred by me during my life as to which I did not make an allocation prior to my death, in such manner as the Trus„~ee of the MORROW, FAMILY REVOCABLE LIVING TRUST, dated the ~~_ day of _ ~~i,~~,~~,,~,~ 1991, in the Trustee's sole discretion, shall determine,: after taking into account the total tax liability of my estate and the beneficiaries thereof; provided, however, such allocation shall be made in accordance with Section 2653 of the Code. There shall be no reimbursement or adjustment of the shares of beneficiaries in income or principal by reason of the allocation. by my Personal Representative, and such allocation shall be conclusive and binding upon all parties. K. To do every other act or thing necessary or appropriate for the complete and final administration of my estate and distribution of the property of my estate to the beneficiaries and the Trustee of the MORRQW.FAMILY REVOCABLE LIVING TRUST, dated the ;:`~t~<. day of ~f~~'' p' 1991 . :~ ; w~ ARTICLE VIII DEFINITIONS Whenever used in this Will, unless the context of any passage requires otherwise: A. The term "Personal Representative" includes executor(s), executrix(ex), administrator(s), and administratrix(ex), as well as all their substitutes, alternatives and successors. 5 ~~~~'~, B. The term "tangible personal property" means any personal property of a tangible nature other than (i) money or its equivalent, in hand or on deposit, (ii) bearer securities or evidence of indebtedness, (iii) any life, health, or accident insurance policies, and (iv) personal property used in the operation of a trade or business or subject to a rental agreement or being o~"fered for rent as of the date of my death. C. The term "income" shall be as determined in accordance with the laws of the State of Florida as they now exist or as hereafter amended; provided, however, that income beneficiaries shall not be entitled to any additional income pursuant to the provisions of Section 738.12 of the Florida Statutes, as amended. D. The term "survive me" is construed to mean that the person referred to must survive me by sixty (60) days. If the person referred to dies within sixty (60) days of my death, reference to him shall be construed as if he had failed to survive me. E. The term "my spouse" means my wife, GERALDINE R. MORROW. F. The term "children" shall mean my descendants of the first degree. G. The terms "lineal descendants" or "issue" shall include my descendants of any generation, and includes persons conceived but not born as of the date of my death. H. Legally adopted children shall be deemed to be natural born children of their adoptive parents, and the terms of kinship or descent used herein shall be construed accordingly. I. The term "Code" shall refer to the Internal Revenue Code of 1986, as amended. ARTICLE IX: CONSTRUCTION OF WILL A. The headings and subheadings throughout this Will are used for convenience only and have no significance in the interpretation of the body of this instrument, and I direct that they be disregarded in construing the provisions of this Will. B. Throughout this Will, unless the context requires otherwise, the singular includes the plural, the plural includes the singular, the masculine includes the feminine, and the feminine includes the masculine. C. If any portion of this Last Will and Testament is held to be void or unenforceable, the balance of this Last Will and Testament shall nevertheless be carried into effect. 6 ~!/~' IN WITNESS WHEREOF, I have subscribed my name, affixed my seal and declared this instrument to be my Last Will and Testament consisti of typewri ten pages, in Hernando County, Florida, this ' '~ day of subscribi g Witnesses whom ~ have requested toe become attestine Witnesses hereto. 9 The foregoing instrument was signed, sealed, published and declared by PAUL M. MORROW, as Testator, as his Last Will and Testament in the presence of us, the undersigned, who, at his request and in his presence and in the presence of each other, have subscribed our na as witnesses ~ er the Testator has signed his name, this day of 1991. .~ 1 w1 ~ @ T'~ P .. Witness Witness ~~ . a. Witness STATE OF FLORIDA COUNTY OF HERNANDO +-~~ We PAUL M ~ , the Testator, and 4 9 '~ ~' ~~~ ~ ~ ,-~~ !`' ~ ,U~~~ ~ <<~ ~ :. MORROW ~ and ~, ~~ ~~~" ~':1 ~ ~p " ' the Witnesses, whose names are signed to the foregoing instrument, being first duly sworn, do hereby declare to the undersigned officer that the Testator, in the presence of Witnesses, signed the instrument as his Last Will and Testament, that he signed voluntarily and that each of the Witnesses, in the presence of the Testator and in the presence of each other, signed the Will as a Witness and that to the best of the knowledge of each 7 ,, 5~ ~r ~~; ~~~f Witness the Testator was at the time 18 or more years of age, of sound mind, and under no constraint or undue influence. PAUL M. MORRO~nT, Testator ~, r Witn ~~ //~~~~ -- ~P""~.n.- ~~.(' ~~ s -.I,-+G3--sue..-- Witness f ) n Witness Sworn to a,.d subscribed before me by PAUL M. MORRO~iV the Testator, and ac8~ ~ ~ r~i~~ti A11c'~~'~> ~_ ~ ~ ~ ~ ' r ~ P~, and T=~~~~~~+'~ ~, ~~+~-~~il~~~, the Witnesses, on this _ `" day of ~.. 1991. ~~ ~~ a ~a... Notary Public My Commission Expires: :~ ^ ~ S~a4e of wforid~ M~~ G~ram.:ixp_ C«rr~ o 8 THIS PAGE IS INTENTIONALLY LEFT BLANK ~j' r ''} ~~ ~~~ TH~ AGREEMENT made and entered into this ?~~~ day of _~~ 1991, in Hernando County, Florida, by and between PAUL M. MORROW and GERALDINE R. MORROW (hereinafter called the "Grantors"), of HERNANDO County, Florida, and PAUL M. MORROW and GERALDINE R. MORROW ~~~ hereinafter called the "Trustees"), of Hernando County, Florida, in consideration of the mutual promises and covenants contained herein, the Grantors hereby create a Trust for the uses and purposes and subject to the terms and conditions set forth herein. ARTICLE I: NAME OF TRUSTS FAMILY MEMBERS AND SURVIVORS A. NAME OF TRUST: This Trust shall, for. convenience, be known as the MORROW FAMILY REVOCABLE LIVING TRUST (hereinafter called "the Trust" ) and it shall be sufficient that it be referred to as such in any deed, assignment, bequest or devise. B. FAMILY MEMBERS: At the time of the execution of this Trust Agreement, Grantors' immediate family group consists of the Grantors PAUL M. MORROW and GERALDINE R. MORROW, and their two (2) children, CYNTHIA A. GORSKI and NANCY A. PAWELCZYK, the two ( 2 ) children of PAUL M. MORROW, SHERRY G. SHIELDS, and PAULA B. MORROW, the four (4) grandchildren of PAUL M. MORROW .and GERALDINE R. MORROW, ALITHEA M. GORSKI, JONATHAN R. GORSKI, BETHANY A. GORSKI, and STEPHEN P. PAWELCZYK, and the (3) grandchildren of PAUL M. MORROW, HEATHER SHIELDS, ANGELA SHIELDS, and WESLEY SHIELDS. C. COMMON DISASTER: 1. If the Grantors shall die simultaneously or in such circumstances as to render it impassible to determine who predeceased the other, each shall be presumed to have survived the other. If any beneficiary shall die simultaneously with the Grantor(s) as to render it impossible to determine who predeceased the other, the Grantor(s) shall be presumed to have survived such beneficiary and the provisions of this Trust Agreement shall be construed on that assumption, notwithstanding the provisions of any law establishing a different presumption or order of death or providing for survivorship for a fixed period as a condition of inheritance of property; except the above shall not apply to insurance policies owned by the Grantor(s) upon the life of another. Such policies shall be governed by the Uniform Simultaneous Death Statute, Section 732.601, of the Florida Statutes, as amended. 2. If any beneficiary shall die simultaneously with another beneficiary or in such circumstances as to render it impossible to determine who predeceased the other, and if the rights of one of them depend upon his or her having survived the other, the beneficiary whose rights depend upon such survivorship shall be presumed to have survived the other beneficiary and the f:' a ~r w.~ ~~ v ~'~'9~~- provisions hereof shall be construed upon that assumption. ARTICLE II• TRUST PROPERTY The Grantors for in and consideration of the covenants contained herein and Ten Dollars ($10.00) and other valuable consideration, hereby transfer, assign and deliver to the Trustee(s) the property listed in Schedule A, annexed hereto, and made a part hereof, to have and to hold the same and any cash, securities, insurance policies, or other real, personal, tangible, or intangible property, wherever located, which the Trustee(s) may hold or acquire, pursuant to any of the provisions hereof at any time hereafter, all of such property being hereinafter referred to as the "Trust Estate" , for the uses and purposes and upon the terms and conditions set forth herein. ARTICLE III• ADDITIONAL PROPERTY As long as this Agreement remains unrevoked, either the Grantor (s ) or any other person, with the consent of the Trustee (s) , may add other property to the Trust hereby created by transferring such property to the Trustee(s) hereunder by deed, assignment or other instrument of transfer or by bequest, devise or otherwise, and if so added, such property shall be covered by the provisions herein set forth the same as if originally included hereunder. ARTICLE IV• RIGHTS AND POWERS RESERVED BY GRANTORS During the lifetime of the Grantors and during the lifetime of the survivor of them, each Grantor shall individually have and possess, and hereby reserves the following rights and powers, to be exercised either independently or jointly, at any time and from time to time without the consent of the Trustee(s). The exercise of the following rights and powers shall be effective when delivered in writing to the Trustees} hereunder: A. REVOCATION: To revoke this Trust Agreement and the Trust established hereunder in whole or in part, whereupon the Trust Estate or the part thereof affected thereby shall be distributed by the Trustee(s) as the Grantor(s) or as the Grantor(s) shall direct in writing; B. AMENDMENT: To alter or amend this Trust Agreement in any and every particular; C. CHANGE OF TRUSTEE/BENEFICIARY: To change the identity and/or number of Trustees, Successor Trustees, or Beneficiaries hereunder; 2 n ~,~ r. D. WITHDRAWAL: To withdraw any and ail of the Trust property from the operation of this Trust Agreement; E. HOMESTEAD: To reside upon any real property placed in the Trust as his, her or their permanent residence during his, her, or their lives, it being the intent of this provision to grant to Grantor(s) the requisite beneficial interest and possessory right in and to such real property to comply with Section 196.041 of the Florida Statutes, as amended, such that said beneficial interest and possessory right constitute in all respects an "equitable title to real estate", as that term is used in Section 6, Article VII, of the Constitution of the State of Florida. Notwithstanding anything contained in this Trust Agreement to the contrary, the interest of Grantor(s) in any real property upon which the Grantor(s) reside pursuant to the provisions of this Trust shall be deemed to be an interest in real property, and not personal property; F. ACCOUNTS: To maintain, as Trustee(s),, checking and/or savings accounts in such banking institutions as the Grantor(s) direct. The Grantor(s) reserve the right at any time to withdraw by check or otherwise against such accounts from said institutions; G. INSURANCE: To retain all benefits, privileges, payments, dividends, surrender values, options and election rights in any life insurance policies, including the right at any time to change the beneficiaries, to pledge or assign the policy or its proceeds as collateral security for any loan which the Grantor(s) may obtain from any lender, including a Trustee hereunder individually, and to withdraw the policy if deposited with the Trustee(s), without any duty on the part of the Trustee(s) to see to its return; H. OTHER POWERS: To have all rights and powers granted to Trustees under the laws of Florida, in addition to the rights and powers granted elsewhere herein, and the Grantor(s), as Trustee(s), shall not be governed by fiduciary standards otherwise applicable to the investment, management and operation of the Trust Estate. Grantor(s) may advise and direct the actions of the Trustee(s) with respect to the investment, management and operation of the Trust Estate. ARTICLE V• INCOME AND PRINCIPAL DURING LIFETIME OF GRANTOR(S~ During the lifetime of the Grantors and during the lifetime of the survivor of them, the Trustee(s) shall collect and pay over to or apply for the benefit of the Grantor(s), the entire net income from the Trust Estate, in convenient installments, but not less than quarterly, and such amounts of principal of the Trust Estate as the Grantor(s) shall demand in writing from time to time, or, in the absence of a demand, as the Trustee(s), in the Trustee's 4,s`,..~ .3`.A ~{ ~~ ` ~ absolute discretion, deems necessary or desirable to provide for the proper health, maintenance,. and support of the Grantor(s) and those dependent upon the Grantor(s) for support. The provisions of Section ?33.810(2) of the Florida Statutes, as amended, or any successor statutes dealing with the distribution and the transfer of assets in kind to or for the benefit of a surviving spouse, shall not apply to this Trust Agreement. ARTICLE VI' PAYME_Nm OF DEBTS TAXES AND COSTS OF ADMINISTRATION A. ITEMS TO BE PAID: After the death. of each of the Grantors, the Trustee may, in the Trustee's sole discretion, pay all or such portion of the following items as the Personal Representative of the Grantor's estate may from time to time request. 1. Debts which the Grantor is legally obligated to pay at the time of Grantor's death; 2. Grantor's last illness and funeral expenses; 3. Miscellaneous taxes and costs of administration of the Grantor's estate; 4. Any estate, inheritance, generation-skipping transfer, succession and other death taxes, together with any interest and penalties thereon, which may be levied or assessed by the United States, any state or territory thereof, or by any foreign government or political subdivision thereof, by reason of the Grantar's death., with respect to property passing under the Grantor's Last Will and Testament, property held by the Trustee(s) under this Trust Agreement, or any other property. B. SOURCE: Said debts, expenses, costs and taxes may be paid from either principal or income of the Trust Estate. The Trustee is also authorized to lend, from the Trust Estate to the estate of either or both of the Grantors, sufficient funds, upon such terms as the Trustee deems advisable, to pay all or a portion of the above debts, expenses, costs and taxes; provided however that if the Trust owns at Grantor's death any United States Treasury Bonds, which can be redeemed at par value for the payment of Grantor's estate taxes, then the Trustee shall be required to use such Bonds to the extent necessary to pay estate taxes due as a result of the Grantor's death. C. EFFECT ON DISTRIBUTION: The foregoing directions need not postpone the distribution of the Trust Estate remaining upon the death of both of the Grantors as provided herein; however, the Trustee shall have the right to withhold and postpone distribution of any amount which may be necessary to pay in full such d ebts, 4 ~~"~ ~~z , l~ff ~~`~ ~~~, expenses, costs and taxes. If the amount so withheld is les s than what is required to pay such obligations in full, the additional amount required may be applied to the persons or trusts to whom the remaining Trust Estate was distributed at Grantor's death; if the amount so withheld exceeds what is required to pay said obligations in full , the excess shall be distributed to said persons or trusts . The additional amount to be paid by, or the excess to be distributed to, each said persons or trusts, whichever the case may be, shall be in proportion to the total amount to which each is respectfully entitled under the provisions of this Trust Agreement. ARTICLE VII: ADMINISTRATION AND DISTRIBUTION OF TRUST AFTER DEATH OF GRANTORS Upon the death of both of the Grantors, the Trust shall become irrevocable and the remaining Trust Estate, including additions made by bequest or devise under Grantors' Last Will and Testaments, shall be held in Trust to be administered by the Successor Trustee in accordance with the following terms and conditions: A. ASSEMBLE THE TRUST ESTATE: The Successor Trustee shall first assemble the Trust Estate. The Trustee shall receive the proceeds of any life insurance policies, retirement plans or other policies or plans payable to the Trustee or to the Trust, and shall have the authority to make any compromise or settlement with respect to such policies or plans that it deems expedient. No insurance company whose policies shall be deposited hereunder and who shall make payments of the proceeds thereof to the Successor Trustee shall be required to inquire into or take notice of any of the provisions of this Trust Agreement or to see t:o the application or disposition of the proceeds of such policies, and the Successor Trustee's receipt given to any such insurance company shall be effective to release and discharge it for any payment so made and shall be binding upon the beneficiaries of the Trust hereby created. B. PAYMENT OF DEBTS, EXPENSES, COSTS AND TAXES: The Successor Trustee shall then provide for the payment of debts, expenses, costs and taxes in accordance with Article VI of this Trust Agreement. C. DISTRIBUTION OF TRUST ESTATE: 1. The Successor Trustee shall finally distribute all of the remaining principal of and the accumulated undistributed income, if any, from the trust estate as follows: a. The residence and all contents and fixtures in or about said residence located at 8435 Blaine Road, Spring Hill, FL 34608, in equal shares,in fee simple and outright to CYNTHIA A. GORSKI and NANCY A. PAWELCZYK, as tenants in common. If either or 5 i"~ ,~`" h,*~ ~~~`i both fail to survive the Grantors, to such beneficiary's lawful lineal descendants, per stirpes. b. All other principal and accumulated, undistributed income from the trust estate shall be distributed, outright in the following percentages: CYNTHIA A GORSKI (35%), NANCY A. PAWELCZYK (35%), SHERRY G. SHIELDS (150), and PAULA B. MORROW (15%) if such beneficiaries survive the Grantors. If any beneficiaries shall not survive the Grantors, the said deceased beneficiary's share shall be distributed to that beneficiary's lawful lineal descendants, per stirpes. ARTICLE VIII• TRUSTEES' POWERS, DUTIES SUCCESSION AND RESIGNATION A. APPOINTMENT OF TRUSTEE: Z. The Grantors hereby appoint themselves, PAUL M. MORROW and GERALDINE R. MORROW, as Trustees of the Trust created hereunder. 2. If either of the Trustees, PAUL M. MORROW or GERALDINE R. MORROW, shall be or become unwilling or unable to serve as Trustees to the Trust, as determined by the provisions herein, then the remaining or surviving Grantor shall then continue to serve as sole Trustee during the period in which the other is unwilling or unable to serve. 3. If both the Trustees, PAUL M. MORROW and GERALDINE R. MORROW, shall be or become unwilling or unable to serve as Trustees to the Trust, as determined by the provisions herein, then CYNTHIA A. GORSKI and NANCY A. PAWELCZYK shall serve as Co- Successor Trustees to the Trust during the period in which both PAUL M. MORROW and GERALDINE R. MORROW are unwilling or unable to serve. 4. If either of the Co-Successor Trustees, CYNTHIA A. GORSKI or NANCY A. PAWELCZYK, shall be or become unwilling or unable to serve as Trustee to the Trust, as determined by the provisions herein, then the remaining Co-Successor Trustee shall serve as Successor Trustee to the Trust during the time the other Co-Successor Trustee is unwilling or unable to serve. 5. In the event that both of the Co-Successor Trustees shall be or become unwilling or unable to serve as Trustees to the Trust, as determined by the provisions herein, then DAVID GORSKI shall serve as the next Successor Trustee to the Trust during the time the other previous Successor Trustees are unwilling or unable to serve. B. INABILITY OF TRUSTEE TO SERVE: Any person acting or 6 d. R, 8~u PG 12 5 0 ./~~: f ! 2'~ f"jam. named to act in a Trustee capacity shall be considered unable to act or continue to act, and shall cease to act as Trustee when the person's regularly attending physician has certified that such person does not have the physical and/or mental capacity to manage his or her financial affairs. If such person's regularly attending physician shall subsequently certify that such person has regained ~• the physical and/or mental capacity to manage his or her own financial affairs, such person shall resume hi.s or her Trustee responsibilities upon delivery of his or her written request to the Successor Trustee then serving. No further act upon the part of the Trustee or any Court shall be necessary to vest in a Successor Trustee fiduciary powers, duties, supervision and management of the Trust and third parties are protected in relying upon the statement of such regularly attending physician without any further act or notice. C. SUCCESSION OF TRUSTEES: 1. Any Successor Trustee shall accept the position by written instrument and shall assume the duties thereof immediately upon delivery of the instrument to the other Trustee then serving or, if no Trustee is then serving, to each competent adult beneficiary, or the parent or guardian of a minor or otherwise incompetent beneficiary, without the necessity of any other act, conveyance or transfer. 2. The title to the Trust Estate shall vest forthwith in any Successor Trustee as Trustee acting pursuant to the foregoing provisions hereof, but any resigning or removed Trustee shall execute all instruments and do all acts necessary to vest such title in any successor Trustee without court accounting. ,a, Successor Trustee shall have no duty to examine the accounts, records and acts of the previous Trustee(s) and shall in no way or manner be responsible for any act or omission on the part of the previous Trustee(s). 3. Each Successor Trustee shall have, exercise and enjoy all the rights, privileges and powers, both discretionary and ministerial, as are herein given to the original Trustee(s) and shall incur all of the duties and obligations imposed upon the said original Trustee(s), except for those rights, pawers, duties and obligations specifically given to the Grantors as Trustees. D. WAIVER OF BOND: No individual Trustee or Successor Trustee appointed hereunder shall be required to furnish any bond or other security in any jurisdiction for the performance of their duties as such. E. TRUSTEE'S DECISIONS, RESIGNATIONS, AND ABSENCES: 1. All actions by the Trustee(s) shall be taken only by unanimous decision of the Trustee(s) then serving, except that 7 // la. ~.i during the Grantors' lifetimes each of the Grantors may act as Trustee without the approval or consent of any other Trustee then serving. 2. Any Trustee may resign by delivering written resignation to the other Trustee(s) then serving or, if none is then serving, to each competent adult beneficiary or the parent or guardian of a minor or otherwise incompetent beneficiary. 3. An individual Trustee may authorize, in writing, the other Trustee{s) then serving to administer the Trust and act in his or her name and in his or her behalf either for a specified period of time or during any temporary absence or~incapacity; provided, however, no Trustee in such event shall. be authorized to exercise any power or discretion which such Trustee is expressly prohibited from exercising by any provisions of this Trust Agreement. F. TRUSTEE POWERS: In addition to the powers and discretion elsewhere granted herein and those conferred by l.aw, I(We} give to my(our) Trustee(s) or Successor Trustee(s) the power and authority to do any of the following as my(our) Trustee(s), in his or her unrestricted judgment and discretion, shall deem advisable for the better management, preservation and distribution of the property of the Trust Estate without resort to any person or Court for further authority: 1. To accept and take possession of property attached hereto, any property added to the Trust Estate from time to time, and property from sources outside of the Trust Estate, including any other trusts which may have been created during my(our) lifetime(s), to keep it safely, and to segregate it from other property held by the Trustee(s), without liability for any increase or decrease in value and without regard to whether such property is productive of income. The Trustee is further authorized to take such action as is necessary to render liquid my Trust Estate, in whole or in part, for its subsequent distribution. 2. To retain or acquire and hold unproductive property in trust without the requirement that such property yield any specified amount of income. To this effect, the provisions of Section 738.12 of the Florida Statutes, as amended, or any other statute governing unproductive or underproductive property held in trust, are hereby waived and the Trustee (s ) is (are. } hereby relieved of the obligations imposed by such statutes. 3. To carry on and manage, in all respects, any business enterprise in which I(we) may be engaged at the time of my(our) death, including any partnership, land trust, ar unincorporated business, with the full power and authority to operate or join in the operation of such business enterprise as a going concern, to form or reform a general or limited partnership, to incorporate and 8 J'~~~' reincorporate, and to liquidate, wind-up, merge, readjust or sell any business enterprise or any part thereof. 4. To sell, transfer, exchange, partition, improve, give option upon, lease, or rent, at any time, all o.r any part of the real or personal property, or both at any time belonging to my(our) estate(s), at public or private sale, for cash or on terms acceptable to my(our) Trustee(s). 5. To borrow money and to pledge, mortgage, or otherwise encumber all or any part of the real or personal property, or both, belonging to my(our) estate(s). To pay, compromise, adjust, settle, compound, renew, discharge, abandon, or submit to arbitration claims held by my (our) Trustee(s) and claims asserted against my(our) Trustee(s), on whatever terms and conditions he or she deems advisable in his or her absolute discretion. 6. To pay, compromise, adjust, settle, compound, renew, discharge, abandon, or submit to arbitration claims held by my(our) Trustee(s) and claims asserted against my(our) Trustee(s), on whatever terms and conditions he or she deems advisable in his or her absolute discretion. 7. To make distribution to the beneficiaries or other named individuals or entities under the Trust ~~reated hereunder either in kind, if specifically directed herein, or otherwise, and to distribute to any beneficiary under the Trust an undivided interest in any property in the Trust Estate. 8. To use any of the settlement options named under policies of life insurance which may be owned by the Trust created hereunder or which may be payable to the Trust. 9. To employ attorneys, accountants, investment advisors, appraisers, and other professional assistants for the administration, management and disposition of the Trust Estate. 10. To allocate charges, expenses, receipts and disbursements between income and principal in his or her sole discretion. To this effect, the provisions of Section 738.13 of the Florida Statutes, as amended, or any other statute governing the allocation of charges against the income and principal of trust property are hereby waived and the Trustee(s) is(are) relieved of the obligations of such statutes. 11. In the exercise of all discretion and powers, the Trustee is authorized to favor the then income beneficiary(ies), even where such acts or omissions work to the detriment of the principal beneficiary(ies}. To this effect, the Trustee is authorized to invest the Trust Funds with an emphasis on the production of a reasonably high level of income, to the exclusion of growth, favoring the interests of the income beneficiary(ies), and the Trustee is relieved of liability for favoring the income 9 i:.~ M f47 F~'" ~~/ beneficiary(ies). G. ACCOUNTING: The Trustee, other than the Grantor(s), shall prepare an account for each taxable year of the Trust, and, whenever a Trustee ceases to serve, an account shall be prepared from the time of the last prior accounting through the end of the period of service. The 'T'rustee shall keep each account available for inspection by and may deliver copies to the beneficiary(ies) eligible within the period covered thereby to receive benefits from the Trust; provided, however, that anything contained herein or in any law contrary notwithstanding, during the lifetime of the Grantor(s) and during the lifetime of the survivor of them, the Trustee shall not disclose any information concerning the Trust, its terms, operations, or assets to any beneficiary other than the Grantor(s), unless the Grantor(s) consent(s) thereto in writing. The written approval of an account by such a beneficiary, or by his or her parent or guardian if such beneficiary is incompetent, shall be final and binding as to all matters stated therein or shown thereby upon that beneficiary and upon all persons then or thereafter claiming any interest through him or her in the income or principal of the Trust. Any Trustee or Successor Trustee shall become responsible for the Trust Estate only when, as and if the same shall be received by it and, in determining such estate, such Trustee shall only be responsible to make a reasonable inquiry from the records of the prior Trustee(s) which are made available. No person serving as Trustee or Successor Trustee shall be obligated to examine the accounts and actions of any previous Trustee or any Personal Representative of either of the Grantors' estates. No Trustee shall be liable for any act or omission unless the same be due to such Trustee's own default. H. COMPENSATION: The Trustee, other than the Grantor(s), shall be entitled to reasonable compensation for services rendered hereunder and shall also be reimbursed for all reasonable expenses incurred in the management and protection of t:he Trust Estate; provided, however, that with respect to any corporate Trustee, compensation is authorized and shall be paid in accordance with such Trustee's regularly published schedule of` fees in effect during the time services are rendered by it as Trustee. Any additional duties and responsibilities due to acquisition of additional trust property or the transfer into the Trust of additional property shall be considered in determining the amount of compensation, but it shall not exceed the amount allowed by law at the time compensation becomes payable. ARTICLE IX: GENERAL PROVISIONS The provisions of this Article shall apply to any and all Trusts established hereunder, unless otherwise provided herein: A. NOTICE TO TRUSTEE(s) OF BENEFICIARY STATUS: Until the 10 ~, ~' ~~~~`~ Trustee shall receive written notice of any birth, marriage, death or other event upon which the right to distribution of the income or principal of any trust may depend, the Trustee(s) shall incur no liability for distributions made in good faith to persons whose interests may have been affected by that event. ••~B. RELIANCE BY THIRD PARTIES: No grantee, purchaser, or other third person dealing with the Trustee(s) while the Trustee(s) is(are) purporting to act in such capacity under any power or authority granted the Trustee(s) herein need inquire into the initial existence of facts upon which the purported power or authority depends or into the continued existence of the power, the expediency of the transaction, or the proper application of the proceeds or other consideration and certification of this Paragraph by said Trustee(s) shall be sufficient evidence upon which the grantee, purchaser, or other person dealing with the Trustee { s ) may rely. C. SITUS OF TRUST AND GOVERNING LAW: This Trust Agreement has been accepted by the Trustee(s) in the State of Florida., County of Hernando, and this Trust Agreement and t:he Trust created hereunder shall be construed and regulated and all rights under it shall be governed by the laws of the State of Florida. D. FREQUENCY OF INCOME DISTRIBUTION: Unless otherwise specifically indicated under the terms of the Trust, any distribution of income required to be made under any Trust created herein shall be made in at least quarterly installments. E. LIFETIME GIFTS: Any gifts of property, real, personal, tangible, intangible, or otherwise, which either or both of the Grantors may have made or may make during their lives, if any, before or after the execution of this Trust Agreement, to any person (s) , shal l not be deemed to be an advancement or satisf action to be applied against any share of any beneficiary of the Trust, and shall not be taken into account in connection with the Trust. F. RESTRAINT ON ALIENATION: No income or principal payable to or held for any beneficiary shall, while in the possession of the Trustee(s), be alienated, disposed of, or encumbered in any manner other than by Trustee action authorized hereby. Throughout the duration of the Trust, no beneficiary thereof shall have the power, voluntarily or involuntarily, to sell, alienate, convey, assign, transfer, mortgage, pledge or otherwise dispose of or encumber any principal or income thereof or any interest whatever therein until physical distribution or payment ie; made to him, and no interest of any beneficiary in or claim to any trust asset or benefits shall be subject to the claims of any of his creditors or to judgment, levy, execution, sequestratic>n, garnishment, attachment, bankruptcy or other insolvency proceedings, or any other legal or equitable process. Nothing in this paragraph shall interfere with the exercise of any right or power reserved to the 11 Grantor(s) or expressly given herein to the Trustee(s) or any beneficiary(ies). G. RULE AGAINST PERPETUITIES: In the event the interest of any beneficiary of any trust created hereunder shall violate the Florida Uniform Statutory Rule Against Perpetuities as determined under Section 689.225 of the Florida Statutes, as amended, the terms of such Trust shall be construed to require such interest to vest within the time period specified far a valid interest under such statutory provision. In the event it is impossible to construe the terms of the Trust to require such. interest to vest within the time period specified for a valid interest under such statutory provision, then the Trust shall terminate within the time period specified for a valid interest under such provision. Upon such termination, the property held in such. trust shall be distributed, free from Trust, to the then income beneficiary{ies) thereof, in accordance with their respective interest{s) in the Trust. ARTICLE X: DEFINITIONS Whenever used in this Trust Agreement, unless the context of any passage thereof requires otherwise: A. The term "Grantors" refers to PAUL M. MORROW and GERALDINE R. MORROW. The term "survivor of them" used in conjunction with the term Grantors refers to the last of the Grantors to die. B. The terms "Trustee" and "Trustees" refer to the single, multiple, Substitute Trustees, Co-Trustees, or Successor Trustees who at any time may be appointed and are acting in a fiduciary capacity under the terms of this Trust Agreement. C. The term "Trust Estate" refers to the property itemized and described in Schedule A attached hereto, which the Grantor(s) acknowledge(s) he or she has transferred, delivered, assigned and conveyed to the Trustee(s), together with all other property that hereafter may be transferred, assigned, conveyed, bequeathed or devised to the Trustee(s) or the Trust by the Grantor(s) or any other person, including the proceeds from any insurance policies which are payable to the Trustee(s) or the Trust.. D. The term "income" shall be as determined in accordance with the laws of the State of Florida as they now exist or as hereafter amended; provided, however, that income beneficiaries shall not be entitled to any additional income pursuant to the provisions of Section 738.12 of the Florida Statutes, as amended. 12 i.' E. ....~ ~, ' ~ ~'4 ~~~ E. The term "proper health" shall be construed to include all medical, dental, hospital, drug and nursing costs, as well as all expenses or invalidism costs of medically prescribed equipment and travel. F. The term "proper maintenance and support" shall mean,ethe maintenance and support of the income beneficiary(ies) in accordance with their accustomed manner of living. G. The terms "lineal descendants" and "issue" shal 1 mean descendants by blood and persons conceived but not yet born. H. The terms "child" and "children" shall :mean the Grantors' descendants of the first degree, CYNTHIA A. GORSKI, NANCY A. PAWELCZYK, SHERRY G. SHIELDS and PAULA B. MORROW and the terms "grandchild" and "grandchildren" shall mean HEATHER SHIELDS, ANGELA SHIELDS, WESLEY SHIELDS, ALITHEA M. GORSKI, JONATHAN R. GORSKI, BETHANY A. GORSKI, and STEPHEN P. PAWELCZYK. I. Legally adopted children shall be deemed to be natural born children of their adoptive parents, and terms of kinship or descent used herein shall be construed accordingly. J. The term "Code" shall refer to the Internal Revenue Code of 1986, as amended. X~: CONSTRUCTION OF TRUST A. HEADINGS: The headings and subheadings used throughout this Trust Agreement are used for convenience only and have no significance in the interpretation of the body of this Trust Agreement, and they shall be disregarded in construing the provisions of this Trust Agreement. B. NUMBER/GENDER: Throughout this Trust Agreement, unless the context requires otherwise, the singular includes the plural, the plural includes the singular, the masculine includes the feminine, and the feminine includes the masculine. C. SEVERABILITY: If any portion of this Trust Agreement is held to be void or unenforceable, the balance of this Trust Agreement shall nevertheless be carried into effect. IN WITNESS WHEREOF, we have hereunto subscribed our names and affixed our seals, and declared this instrument to be our Revocable Living Trust Agreement, consisting of 16 typewritten pages including Schedule A attached hereto., in Hernando County, Florida, 13 ~-~ ~~ ,. `~/ this ~- day of F ~ , 1991, in the presence of the subscribing witnessed whom we have requested to become attesting witnesses hereto. P~ ~ l'- ~~~~~~ ~'~~~ / ' ( ~V .f`N~~t ~ .~S ~Y~~ PAUL: M. MOR OW, Grantor GERALDINE R. ran The foregoing instrument and Schedule A were on the date thereof signed, published and declared by PAUL M. MORROW and GERALDINE R. MORROW as Grantors, to be their Revocable Living Trust Agreement, in our presence and in the presence of each other this day of 1991, and we have hereunto signed our names and addresses~as attesting witnesses. a- Witne~ Witness Witness Acceptance by Trustees: The undersigned hereby trusts imposed by the foregoing Revocable Living Trust and agree to serve as Trustees upon the terms and therein set forth, ( ~ ~ ff~ ,/tai .~ f ~ r.~ Witness --~ Witness ~(~, Witness t accept the Agreement conditions ~^.~ ~' T ~ ~ ~r PAUL M. MORROW, Trustee .~-_ L.-r 6 ..~ t -.G ..^ s_,,,,_.,~ .r d' GERALDINE R.YMORROW, Trustee 14 `~ ' ~,~ ._ ~1 ~~` ~. STATE OF FLORIDA: COUNTY OF HERNANDC7:° ",.,. We , PAU, f , M . MORROW and GERALDINE Rr. MORROW , the Grantors , and y . r ;,. _ ~~~ /~~ ~,*~~kl~ and L ~ '' ~ ,~-~, the Witnesses, whose names are signed to the attache or foregoing instrument, being first duly sworn, do hereby declare to the undersigned officer that the Grantors, in the presence of Witnesses, signed the instrument and Schedule A as their Revocable Living Trust Agreement, that they signed voluntarily and that each of the Witnesses, in the presence of the Grantors and in the presence of each other, signed the Revocable Living Trust Agreement as a Witness and that to the best of the knowledge of each Witness the Grantors were, at the time, 18 or more years of age, of sound mind, and under no constraint or undue influence. PAUI~ M. MORROW, Gr a ntor ~ _ ' GERALDINE R. MORR04~~,- Grantor ,~--- . i ; ~~ YF ~: e _ ~.4 Witness ~~~- ~ ~~ Witness -{ ) ~ ( j Witness W Subscribed and sworn before me by PAUL M. ,MORROW and. GERALDINE R . MORROW , .;the , Grantors , an ; ~~~4'~~r -, ~' ~ € ~ °~~v ~° ~ ~ d,R , f d ~. p r f c.., Y:S ~ ~__~~-~ ~+~ . ~.W ~, .. ,and ,.~' ~~.~~ ~ . ~+ ,1k ~ ~ ~~ the Witnesses, on this ~ ` day of ~'?t~~-~~ 1991. ~ ~ NOT~,R'`y PUBLIC My Commission Expires: h S,atc, ut y ~a~ u~:s My Go~am. c.,p. Lec ?! C: 15 a r7 %-a f ji`~ F !~ ~~~ SCHEDULE "A" SCHEDULE OF PROPERTY TRANSFERRED TO THE TRUSTEE(S) PURSUANT TO THIS REVOCABLE LIVING TRUST AGREEMENT *Cash in the Amount of $10.00 °x` s ~F Approved on this (~ _ day of '~~ ~~~~~ 1991. ~. -, / ~_ Le'Yj`~""_....? 88 F ! • ~ ~. ~ ~~};~~/ 71/"'~~~,r,.~4"' t.~nr.•l f ~ ~~ F ..~,., ^'$ ~ fit .'''- R.. PAUL M. MORRb W, Grantor ;,: „ , `, '"~ ,,,: ~ ~'.~'~ ~.m ..,. ,~~ ~ ,,. .._;~ ,s ~:.. f' ~~.~,-,, ,ter . :. ,~ GERALDINE R. MORRO~1; Grantor 16 ~° iy~ LI i ASSIGNMENT WHEREAS, PAUL M. MORROW and GERALDINE R. MORROW, the Grantors, have this date entered into a Revocable Living Trust Agreement (the "Trust") containing various estate planning and distribution contingencies, and WHEREAS, the Grantors do hereby wish to transfer and assign to the Trust all of the Grantors' furnishings, furniture and all other personal property and effects now or hereafter owned by the Grantors. NOW, THEREFORE, it is agreed as follows: 1. All of the personal property and effects of the undersigned Grantors are hereby assigned to and transferred to the Trust, including, without limitation, all of the Grantors' furniture, appliances, furnishings, antiques, art work, china, silverware, glassware, jewelry, books, papers, cantracts, accounts receivable, wearing apparel, fixtures and all other chattels of every kind whatsoever, now and hereafter owned or acquired by the Grantors, before and after the date of this assignment; 2. No special writing or memorandum shall be required for the transfer made hereunder to be effective or enforceable in any Court of competent jurisdiction in the state in which the Grantors reside. IN WITNESS WHEREOF, the undersigned dated the ~`' day of _~~'~ '" ~ , into this Assignment dated and effecti. a as Witnesses: - r~ -~ ~ ... a"~ . _~. C- r ...`s "~~~/ /'.mow. r ~ STATE OF FLORIDA COUNTY OF HERNANDO Grantors of the Trust, 1991, do Y~r.~by enter of the _ _ day of PAUL M. MO ©W, Grantor r y r ~ _ ~r GERALDINE R. MORROW,! Grantor SWORN TO AND SUBSCRIBED before me by~,PAUL M. .MORROW and GERALDINE R. MORROW, Grantors and :fit' 'r 'i ~ ~v'~k~~`a r~ , ~"L ~~u ~°~ ~~~,~~v„~^s and ~~~~~.~ ~~a-~~., ~r't~d~i as witnesses this ~~. ~~' day of . .~ ~ ., .. NOTARY ;1'~UBLIC My Commission Expires: ~n date ur ~ l.~r d~ ' .~ ~ Mu comm. rxp us_ 1°..~.., 'i PROPERTY TRANSFERRED INTO MORROW REVOCABLE LIVING TRUST DATE OF TRANSFER DESCRIPTION OF PROPERTY LOCATION OF PROPERTY ..b ~~ TRUST MINUTES SIGNATURE SIGNATURE DATE SIGNATURE DATE SIGNATURE SIGNATURE DATE SIGNATURE SIGNATURE DATE SIGNATURE r ~ ~ } TRUST MINU'.PES SIGNATURE SIGNATURE DATE SIGNATURE DATE SIGNATURE SIGNATURE DATE SIGNATURE SIGNATURE DATE SIGNATURE