HomeMy WebLinkAbout09-10-08 (3)IN RE: ESTATE OF ELIZABETH W. IN THE COURT OF COMMON PLEAS OF
PENNINGTON, DECEASED CUMBERLAND COUNTY, PENNSYLVANIA
ORPHANS' COURT DIVISIOl ~.., ,
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APPROVAL OF ACCOUNT, RECEIPT, RELEASE AND INDEMNTFI~ATION C " ' "~
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WHEREAS, Elizabeth W. Pennington (the "Decedent") died January 16, 2005,
leaving a Will which was duly probated by the Register of Wills of Cumberland County on January
28, 2005; and
WHEREAS, Decedent's daughter, Cynthia Clippinger, was duly appointed as
Executrix of Decedent's Estate (the "Executrix"); and
WHEREAS, during her lifetime, Decedent entered into The Elizabeth W.
Pennington Revocable Trust dated September 28, 1982, which was replaced in toto by The Third
Amended and Restated Elizabeth W. Pennington Revocable Trust under Agreement dated June 2,
2002, as amended by instrument dated March 21, 2004 (the "Trust"); and
WHEREAS, Decedent served as Trustee of the Trust until her death, whereupon
Fred A. Pennington, Jr., Sherill T. Moyer and James R. Clippinger became successor Trustees (the
"Trustees"); and
WHEREAS, Decedent's Will provides that her household and personal articles be
distributed to her children, Fred A. Pennington, Jr. and Cynthia Clippinger, in equal shares, and
further devises and bequeaths her residuary estate to the then Trustee of The Elizabeth W.
689554.1 \
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Pennington Revocable Agreement of Trust dated September 28, 1982, as amended (the
"Beneficiary"); and
WHEREAS, the grant of Letters has been duly advertised, all creditors and death
taxes have been paid, and administration of the Estate is complete; and
WHEREAS, the Executrix and the Trustees, as Beneficiary, desire that the Estate
assets be distributed without the formality of an accounting filed in the Orphans' Court Division in
order to save the expense, publicity and delay of a court accounting; and
WHEREAS, the Executrix is willing to make such distributions upon receipt of a
proper approval of account, receipt, release and indemnification, which it is the purpose of this
Agreement to provide.
NOW THEREFORE, the undersigned Trustees of The Elizabeth W. Pennington
Revocable Trust (the "Trustees") solely in their capacity as Trustees and Cynthia Clippinger and
Fred A. Pennington, Jr. as the beneficiaries of the remainder of that Trust (the `"Trust
Beneficiaries"):
State that they have examined the First and Final Accounting of Decedent's
Estate attached hereto as Exhibit "A" (the "Account") and approve the transactions set forth therein
(and the administration of the Estate generally) as though they were contained in a formal
Accounting which had been confirmed absolutely by the Court having jurisdiction over the Estate.
2. State that they have examined all distributions reported in the Account and
approve the distributions therein as though they were ordered by the Court having jurisdiction over
the Estate.
-a-
Waive the filing of the Account in any Court and agree that any Court
having jurisdiction over the Estate may confirm the Account in the form attached hereto.
4. Hereby acknowledge receipt from the Executrix of the assets shown as being
or proposed to be distributed to them in the said Account in absolute payment of and in full
satisfaction of the Trust's interest under Decedent's Will.
Do hereby absolutely and irrevocably release, remise, quitclaim and forever
discharge the said Executrix, her heirs, personal representatives and assigns, of and from all actions,
suits, payments, accounts, reckonings, claims and demands whatsoever for or by reason of her
actions as Executrix.
6. Do hereby absolutely and irrevocably release the Executrix from filing any
Account, Petition for Distribution or other document with the Orphans' Court of Cumberland
County, Pennsylvania, or in any other jurisdiction in connection with the Estate of the said
Decedent.
7. Hereby agree that if, at any time in the future, the said Executrix receives
any demand or claim for any amount claimed to be due and owing from her, as Executrix, and
approves said demand or claim, the Beneficiary and/or Trust Beneficiaries shall, at the request of
the said Executrix, pay to the said Executrix the amount of any such demand or claim, or if it has
been paid by the said Executrix, then reimburse her for the amount paid by her, provided that the
amount of such requested payment or reimbursement shall not exceed the total of the assets paid or
distributed by said Executrix to the Beneficiary and/or Trust Beneficiaries as set forth in the
attached Account.
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8. Hereby agree to indemnify the Executrix, her heirs, personal representatives
and assigns, and hold her harmless, to the extent of the Estate assets received by them from and
against any and all claims, loss, liability or damage (including legal fees and costs) which she may
suffer or to which she maybe subjected by reason of the administration of the Estate or the
distribution of the assets of the Estate to the Beneficiary and/or the Trust Beneficiaries without
having formal approval of the Orphans' Court of Cumberland County, Pennsylvania, or any other
jurisdiction.
9. Does hereby agree that this Agreement maybe signed and acknowledged by the
parties hereto in counterparts and a complete set of executed counterparts, containing the signatures
of all parties, shall constitute an original and complete instrument.
IN WITNESS WHEREOF, the undersigned have hereunto set their hands and seals
this ~ l day of , 2008.
WITNESS:
~ `_.
Fred A. Pennington, Jr., Co-Trustee and Trust
Beneficiary
Sherill T. Moyer Co-Trustee
James R. Clippinger Co-Trustee
Cynthia Clippinger, Trust Beneficiary
- 4 -
8. Hereby agree to indemnify the Executrix, her heirs, personal representatives
and assigns, and hold her harmless, to the extent of the Estate assets received by them from and
against any and all claims, loss, liability or damage (including legal fees and costs) which she may
suffer or to which she maybe subjected by reason of the administration of the Estate or the
distribution of the assets of the Estate to the Beneficiary and/or the Trust Beneficiaries without
having formal approval of the Orphans' Court of Cumberland County, Pennsylvania, or any other
jurisdiction.
9. Does hereby agree that this Agreement maybe signed and acknowledged by the
parties hereto in counterparts and a complete set of executed counterparts, containing the signatures
of all parties, shall constitute an original and complete instrument.
IN WITNESS WHEREOF, the undersigned have hereunto set their hands and seals
this o~~~ day of , 2008.
WITNESS:
Fre e Jr., Co-Trustee and Trust
Be fici
f'.
/. ~~~
S ~ T. Moyer Co- tee
James R. Clippinger Co-Trustee
Cynthia Clippinger, Trust Beneficiary
- 4 -
Hereby agree to indemnify the Executrix, her heirs, personal representatives
and assigns, and hold her harmless, to the extent of the Estate assets received by them from and
against any and all claims, loss, liability or damage (including legal fees and costs) which she may
suffer or to which she maybe subjected by reason of the administration of the Estate or the
distribution of the assets of the Estate to the Beneficiary and/or the Trust Beneficiaries without
having formal approval of the Orphans' Court of Cumberland County, Pennsylvania, or any other
jurisdiction.
9. Does hereby agree that this Agreement maybe signed and acknowledged by the
parties hereto in counterparts and a complete set of executed counterparts, containing the signatures
of all parties, shall constitute an original and complete instrument.
IN WITNESS WHEREOF, the undersigned have hereunto set their hands and seals
this '~-+ ~. day of ~ v N ~ , 2008.
WITNESS:
Fred A. Pennington, Jr., Co-Trustee and Trust
Beneficiary
Sherill T.1~Diover Co-Trustee
James R. Cli~t~a~~~r Co-Trustee
Cynthia Clippinger, Trust Beneficiary
- 4 -
8. Hereby agree to indemnify the Executrix, her heirs, personal representatives
and assigns, and hold her harmless, to the extent of the Estate assets received by them from and
against any and all claims, loss, liability or damage (including legal fees and costs) which she may
suffer or to which she maybe subjected by reason of the administration of the Estate or the
distribution of the assets of the Estate to the Beneficiary and/or the Trust Beneficiaries without
having formal approval of the Orphans' Court of Cumberland County, Pennsylvania, or any other
jurisdiction.
9. Does hereby agree that this Agreement maybe signed and acknowledged by the
parties hereto in counterparts and a complete set of executed counterparts, containing the signatures
of all parties, shall constitute an original and complete instrument.
IN WITNESS WHEREOF, the undersigned have hereunto set their hands and seals
this ~ day of , 2008.
WITNESS:
Fred A. Pennington, Jr., Co-Trustee and Trust
Beneficiary
Sherill T. Moyer Co-Trustee
James R. Clippinger Co-Trustee
~ ~ -
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Cyn ~ a Clippinger, Tr~is~Ben ciary
- 4 -
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF ~ r~ ~ ~~ N ~ ti
SS:
On this, the 3 ti > day of ~ ~ N £ , 2008, before me, a Notary
Public, personally appeared FRED A. PENNINGTON, JR., Trustee aforesaid, known to me (or
satisfactorily proven) to be the person whose name is subscribed to the within instrument, and
acknowledged that he executed the foregoing Receipt and Release for the purposes therein
contained.
WITNESS my hand and notarial seal.
Notary Pub '
My Commission Expires:
(SEAL)
COMMON1NEq~TH OF PENN$1'IVANIA
Nofarle,--' gad "'_'
Nancy 1. Bresici, Notary Publb
~ CSQuehsnna 71Np„ Dauphin CpuMy
miulor, Expir.. t~aroh ~e, zo~2
Member, Pennsylvania Association of Notaries
- 5 -
COMMONWEALTH OF PENNSYLVANIA
SS:
COUNTY OF )
On this, the ~,~~ day of ~ , 2008, before me, a Notary
Public, personally appeared SHERILL T. MOYER, stee aforesaid, known to me (or
satisfactorily proven) to be the person whose name is subscribed to the within instrument, and
acknowledged that he executed the foregoing Receipt and Release for the purposes therein
contained.
WITNESS my hand and notarial seal.
Public
y Commission Expires:
(SEAL)
BALTH QF PENNSYLVANIA
Notarial Sea!
Yvorxie E3. Durham, Notary Pubtic
City Of F+arrisbur[}, Dauphin County
lVly Cnmrni.~ion ~..xp?rRs Auq. 20.2009
~fltap~^hG~.r +"~C;TIYdtW}a' vt ~Ci`a"(: 9?. S~", r~# ..y..rE"!T!@S
- 6 -
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF ~ A U P+~ i ~
SS:
On this, the -F-{-~ day of ~~ c,1 i~~ , 2008, before me, a Notary
Public, personally appeared JAMES R. CLIPPINGER, Trustee aforesaid, known to me (or
satisfactorily proven) to be the person whose name is subscribed to the within instrument, and
acknowledged that he executed the foregoing Receipt and Release for the purposes therein
contained.
WITNESS my hand and notarial seal.
~Ch, ~~~~~~~,
Notary Publ
My Commission Expires:
(SEAL)
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Nancy L. Breaki, Notary PubNc
Susquehanna Twp., Dauphin County
My Commission Expit~es Maroh 18, 2012
Member, Pennsylvania Aasociatbn of Notaries
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COMMONWEALTH OF PENNSYLVANIA
COUNTY OF ~ r~ U P ~t ~ /~~
SS:
On this, the ~~~- ~ day of ~~U cLi ~ , 2008, before me, a Notary
Public, personally appeared CYNTHIA CLIPPINGER, known to me (or satisfactorily proven) to be
the person whose name is subscribed to the within instrument, and acknowledged that she executed
the foregoing Receipt and Release for the purposes therein contained.
WITNESS my hand and notarial seal.
,~ ~~ ~~~ ~
Notary Public
My Commission Expires:
(SEAL)
COMMONWEALTH OF PENNSYLVANIA
Notarial Ssal
Nancy L. Bnpkl, Notary Publ~
Susquehanna TWp., Dauphin County
My Commission Exptrsa March 18, 2012
Member, Pennsylvania Assodation of Notaries
689519.2
1N THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
ORPHANS' COURT DIVISION
N0.2105-089
FIIZST AND FINAL ACCOUNTING OF
CYNTHIA CLIPPINGER, EXECUTRIX
For
ESTATE OF ELIZABETH W. PENNINGTON, Deceased
Date of Death:
Date of Appointment:
Date of First Complete
Advertisement:
Accounting for the Period:
January 16, 2005
January 28, 2005
February 18, 2005
January 16, 2005 to May 9, 2008
Purpose of Account: Cynthia Clippinger offers this account to acquaint interested parties with the transactions
that have occurred.
The account also indicates the proposed distribution of the Estate assets.
It is important that the account be carefully examined. Requests for additional information, or questions, or
objections, can be discussed with:
Stanley A. Smith, Esquire
- Rhoads & Sinon LLP
One South Market Square, 12~' Floor
P.O. Box 1146
Hamsburg, PA 17108-1146
(717) 233-5731
EXHIBIT "A"
658151.1
Estate of Elizabeth W Pennington
Summary of Account
Principal Page
Principal Receipts 2
Net Gain on Sales or Other Dispositions 6
Less Disbursements:
Debts of Decedent
Funeral Expenses
Administrative Expenses
Federal & State Taxes
Fees & Commissions
Balance Before Distributions
Less Amounts to Beneficiaries
Total Distributions
Principal Balance On Hand
For Information:
Investments Made
Unpaid Expenses
Unrealized Gains and Losses
Income
Receipts
Net Gain on Sales or Other Dispositions
Less Disbursements:
Administrative Expenses
Federal & State Taxes
Balance Before Distributions
Less Amounts to Beneficiaries
Total Distributions
Income Balance on Hand
For Information:
Investments Made
Unpaid Expenses
Unrealized Gains and Losses
Combined Balance on Hand
12
$ 3,507,649.94
224,748.02
$ 3,732,397.96
2,452,887.14
$ 1,279,510.82
35 $ 1,279,510.82
37
38
$ 1,279,510.82
$ 0.00
43 $ 70,199.54
47 0.00
$ 70,199.54
48
$ 12,919.07
4.00
1 ,9~7
$ 57,276.47
49 $ 57,276.47
$ 57,276.47
50 $ 0.00
51
$ 15,560.30
13,294.40
225,119.91
2,086,412.53
$ 0.00
Estate of Elizabeth W Pennington
Principal Receipts
Cash and Cash Equivalents
Merrill Lynch CMA PA Municipal
Money Fund
Total Cash and Cash Equivalents
No. of
Shares Stocks
13 Denison Mines, Inc.
2 Forte Res Inc.
Total Stocks
No. of
Shares Mutual Funds
423.122 Merrill Lynch Global Allocation CL
I
744.657 Merrill Lynch FL Muni Bond Fund
A
2,547 Munienhanced FD Inc.
Total Mutual Funds
Tangible Personal Property
Household furniture and furnishings
and personal articles
Total Tangible Personal Property
Miscellaneous
4 $50 American Express Travelers
Cheques
Allmerica Financial Life Insurance
and Annuity Company, annuity
payments:
Check dated 1/10/2005, $1,284.12;
check dated 1/11/2005, $270
Inventory Value
01/16/2005
$ 6,731.34
12.22
2.85
$ 6,871.50
7,729.54
27,885.83
$ 60,174.00
$ 200.00
1,554.12
$ 6,731.34
15.07
42,486.87
60,174.00
(2)
Principal Receipts (Continued)
Miscellaneous
Income checks from decedent's
revocable trust account issued before
death: MFS Muncipal High Income
Fund-A, $23.56; MFS Municipal
High Income Fund-A, $23.56;
Raymond James, $786.50; Raymond
James, $508.75
PA Department of Revenue, refund
for overpayment of 2004 income
taxes
Refund, State Farm Mutual
Automobile Insurance Company
Verizon, refund, telephone service at
Messiah Village
Total Miscellaneous
Real Property
Residence and outbuildings situate
on 15.902 acres of real property,
known as 2421 Mt. Allen Drive,
Lower Allen Township, Cumberland
County, PA.
3.5 acres of vacant land adjoining
residence on Mt. Allen Drive, Upper
Allen Township, Cumberland
County, PA.
Total Real Property
Total Inventory
Receipts Subsequent to Inventory
01/16/2005
Citizens Bank Acct. #6100905292
Contribution to the Estate by joint
owner, Cynthia Clippinger
Inventory Value
01/16/2005
$ 1,342.37
346.00
55.41
15.71
$ 1,200,000.00
100,000.00
$ 111,035.53
$ 3,513.61
1,300,000.00
$ 1,412,920.89
(3)
Principal Receipts (Continued)
Receipts Subsequent to Inventory
01/16/2005
Citizens Checking Acct.
#6100716856
Contribution to the Estate by joint
owner, Cynthia Clippinger
02/16/2005
Allmerica Financial, annuity check
issued after death
10/04/2005
State Farm Mutual Automobile
Insurance Company, refund, ins. on
1957 Willys Jeep
10/11/2005
Elizabeth W. Pennington Revocable
Trust, transfer from Fulton Account
to pay death taxes
10/12/2005
Fred A. Pennington Residuary Trust,
contribution of Trust's portion of
Federal Estate Tax
10/14/2005
Fred A. Pennington Residuary Trust,
loan from Hershey Trust Account per
Note dated October 14, 2005
04/12/2006
Fred A. Pennington SR. QTIP Trust,
accumulated and accrued income to
date of death of Elizabeth W.
Pennington _
04/12/2006
Fred A. Pennington Sr. Residuary
Trust, income accumulated and
accrued to date of death of Elizabeth
W. Pennington
05/31/2006
Verizon, refund, service at residence
11 /03/2006
Elizabeth Pennington Trust, deposit
of funds from Fulton Bank account
$ 37,276.11
1,284.12
62.84
926,500.00
881,054.55
129,648.56
613.20
2,849.05
3.54
4,279.55
(4)
Principal Receipts (Continued)
Receipts Subsequent to Inventory
03/21/2007
Refund, State Farm Mutual
Automobile Insurance Company $ 122.00
Total Receipts Subsequent to Inventory
Total Receipts of Principal
~ 2.094.729.05
$ 3,507,649.94
(5)
Estate of Elizabeth W Pennington
Gains and Losses on Sales or Other Dispositions of Principal
Net Gain Net Loss
02/16/2005 Redemption
4 $50 American Express Travelers
Cheques
Net Proceeds
Inventory Value
$ 200.00
200.00
02/16/2005 Collection
Allmerica Financial Life Insurance
and Annuity Company, annuity
payments:
Check dated 1/10/2005, $1,284.12;
check dated 1/11/2005, $270
Net Proceeds
Inventory Value
02/16/2005 Collection
Income checks from decedent's
revocable trust account issued
before death: MFS Muncipal High
Income Fund-A, $23.56; MFS
Municipal High Income Fund-A,
$23.56; Raymond James, $786.50;
Raymond James, $508.75
Net Proceeds
Inventory Value
$ 1,554.12
1,554.12
$ 1,342.37
1,342.37
02/16/2005 Collection
Citizens Bank Acct. #6100905292
Contribution to the Estate by joint
owner, Cynthia Clippinger
Net Proceeds -
InventoryValue
$ 111,035.53
111,035.53
02/16/2005 Collection
Citizens Checking Acct.
#6100716856
Contribution to the Estate by joint
owner, Cynthia Clippinger
Net Proceeds
Inventory Value
$ 26,710.85
26,710.85
02/23/2005 Collection
Alhnerica Financial, annuity check
issued after death
(6)
Gains and Losses on Sales or Other Dispositions of Principal (Continued)
Net Gain Net Loss
Net Proceeds
Inventory Value
02/23/2005 Collection
Verizon, refund, telephone service
at Messiah Village
Net Proceeds
Inventory Value
03/10/2005 Sale
423.122 Shares
Merrill Lynch Global Allocation CL
I
Net Proceeds
Inventory V slue
03/10/2005 Sale
744.657 Units
Merrill Lynch FL Muni Bond Fund
A
Inventory Value
Net Proceeds
03/10/2005 Sale
1,547 Shares
Munienhanced FD Inc.
Inventory Value
Net Proceeds
03/10/2005 Sale
1,000 Shares
Munienhanced FD Inc.
Inventory Value
Net Proceeds
06/03/2005 Collection
PA Department of Revenue, refund
for overpayment of 2004 income
taxes
Net Proceeds
Inventory Value
06/03/2005 Sale
Refund, State Farm Mutual
Automobile Insurance Company
$ 1,284.12
1,284.12
$ 15.71
15.71
$ 7,166.57
6,871.50
$ 7,729.54
7,724.19
$ 16,937.33
16,726.20
$ 10,948.50
10,805.48
$ 346.00
346.00
(7)
$ 295.07
$ 5.35
211.13
143.02
Gains and Losses on Sales or Other Dispositions of Principal (Continued)
Net Gain Net Loss
Net Proceeds
Inventory Value
$ 55.41
55.41
07/22/2005 Sale
Household furniture and furnishings
and personal articles
Sale of farm items as follows: 2
tractors 2,000 and 3,000; bush hog
300; front plow 100; sickle bar 200;
ditch witch 100; chipper 200; blade
100
Net Proceeds
Inventory Value
$ 6,000.00
6,000.00
07/22/2005 Sale
Household furniture and furnishings
and personal articles
Sale of mower
Net Proceeds
Inventory V alue
$ 1,000.00
1,000.00
09/23/2005 Sale
Household furniture and furnishings
and personal articles
Sale of 1957 Willys, $3,500; Golf
cart, $200; Roll of wire, $50;
Skidloader backhoe, $300
Net Proceeds
Inventory Value
$ 4,050.00
4,050.00
10/04/2005 Collection
State Farm Mutual Automobile
Insurance Company, refund, ins. on
1957 Willys Jeep
Net Proceeds
Inventory Value
10/12/2005 Collection
Elizabeth W. Pennington Revocable
Trust, transfer from Fulton Account
to pay death taxes
Net Proceeds
Inventory Value
$ 62.84
62.84
$ 926,500.00
926,500.00
10/12/2005 Retired as Worthless
(8)
Gains and Losses on Sales or Other Dispositions of Principal (Continued)
2 Shares
Forte Res Inc.
Inventory Value $ 2.85
Net Proceeds 0.00
10/12/2005 Collection
Fred A. Pennington Residuary
Trust, loan from Hershey Trust
Account per Note dated October 14,
2005
Net Proceeds $ 129,648.56
Inventory Value 129,648.56
10/12/2005 Collection
Fred A. Pennington Residuary
Trust, contribution of Trust's portion
of Federal Estate Tax
Net Proceeds
Inventory Value
11/17/2005 Sale
13 Shares
Denison Mines, Inc.
Net Proceeds
Inventory Value
12/15/2005 Sale
Household furniture and furnishings
and personal articles
Sale of bobcat, mower, and rototiller
to Harvey Cressler
Net Proceeds _
Inventory Value
12/15/2005 Sale
Household furniture and furnishings
and personal articles
Sale of farm equipment
Net Proceeds
Inventory Value
04/12/2006 Collection
Fred A. Pennington SR. QT1P Trust,
accumulated and accrued income to
date of death of Elizabeth W.
$ 881,054.55
881,054.55
$ 102.76
12.22 $
$ 1,350.00
1,350.00
$ 535.00
535.00
(9)
Net Gain Net Loss
$ 2.85
90.54
Gains and Losses on Sales or Other Dispositions of Principal (Continued)
Net Gain
Pennington
Net Proceeds $ 613.20
Inventory Value 613.20
04/12/2006 Collection
Fred A. Pennington Sr. Residuary
Trust, income accumulated and
accrued to date of death of Elizabeth
W. Pennington
Net Proceeds
Inventory Value
$ 2,849.05
2,849.05
05/31/2006 Collection
Verizon, refund, service at residence
Net Proceeds
Inventory Value
$ 3.54
3.54
11/03/2006 Collection
Elizabeth Pennington Trust, deposit
of funds from Fulton Bank account
Net Proceeds
Inventory Value
$ 4,279.55
4,279.55
02/08/2007 Sale
Residence and outbuildings situate
on 15.902 acres of real property,
known as 2421 Mt. Allen Drive,
Lower Allen Township,
Cumberland County, PA.
$1,497,6001ess net credits and
expenses of $80,286.12
(See also 4/17/2007 entry below,
refund of escrowed funds)
Net Proceeds
Inventory Value
$ 1,417,313.88
1,200,000.00 $ 217,313.88
03/21/2007 Collection
Refund, State Farm Mutual
Automobile Insurance Company
Net Proceeds
Inventory Value
$ 122.00
122.00
04/17/2007 Sale
Residence and outbuildings situate
on 15.902 acres of real property,
(10)
Net Loss
Gains and Losses on Sales or Other Dispositions of Principal (Continued)
Net Gain
Net Loss
known as 2421 Mt. Allen Drive,
Lower Allen Township,
Cumberland County, PA.
Refund of funds escrowed at sale of
residence. Add into sale proceeds at
2/08/2007 entry above)
Net Proceeds
Inventory Value
Total Gains and Losses
$ 7,410.88
0.00 $ 7,410.88
362.35
Net Gain
$ 225,110.37 $
$ 224,748.02
(11)
Estate of Elizabeth W Pennington
Disbursements of Principal
Date Paid Amount Paid
Debts of Decedent
01/25/2005 Checks clearing after death $ 10,565.26
02/16/2005 Cynthia Clippinger 458.51
Reimbursement, household
expenses at decedent's
residence
Check Number 0096
02/16/2005 Messiah Village, final bill 3,028.80
Check Number 093
03/14/2005 Cynthia Clippinger, 2.73
reimbursement for payment of
balance due to Alert Pharmacy
Check Number 113
04/07/2005 United States Treasury 1,242.00
2004 Federal Income Tax
Check Number 129
04/07/2005 WESTAB 102.00
20041oca1 tax
Check Number 130
05/04/2005 Pulmonary and Critical Care 110.00
Medicine Associates, P.C.
Balance due
Check Number 138
04/11/2006 Cynthia Clippinger, 51.00
reimbursement for payment of
fmal PA personal income tax
Check Number 247
Total Debts of Decedent $ 15,560.30
Funeral Expenses
(12)
Disbursements of Principal (Continued)
Date Paid
Funeral Expenses
02/16/2005 Cynthia Clippinger
Reimbursement, funeral
luncheon
Check Number 0096
02/16/2005 Malpezzi Funeral Home
Funeral and burial expenses
Check Number 0094
Total Funeral Expenses
Administration Expenses
02/16/2005 State Auto Insurance
Companies
Homeowners' insurance, Policy
#HPA9849370
Check Number 0095
02/25/2005 AT&T, phone 766-2996D,
residence
Check Number 101
02/25/2005 AT&T, phone 766-6204,
residence
Check Number 102
02/25/2005 PPL, service to residence
Check Number 103
03/04/2005 ADT Security Services, service
to residence
Check Number 104
03/04/2005 Verizon, Acct. #766-2996,
service to residence
Check Number 106
03/04/2005 Verizon, Acct. #766-6204,
service to residence
Check Number 105
Amount Paid
$ 2,992.50
10,301.90
$ 13,294.40
$ 2,307.00
12.34
12.34
148.16
110.97
34.31
24.07
(13)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
03/10/2005 Marlin Yohn, Sr., Treasurer
Real estate taxes
Check Number 111
03/10/2005 Marlin Yohn, Sr., Treasurer
Real estate taxes
Check Number 109
03/10/2005 Secco Home Services, Inc.
Repair work on furnace at
residence
Check Number 107
03/14/2005 Cynthia Clippinger
Reimbursement, Lester Erb,
fuel oil for residence
Check Number 113
03/23/2005 Hobbie Auctions
Appraisal, personal and
household articles
Check Number 114
03/30/2005 AT&T, phone 766-2996D,
residence
Check Number 116
03/30/2005 AT&T, phone 766-6204,
residence
Check Number 117
03/30/2005 PPL, service to residence
Check Number 115
04/07/2005 Lester Erb, Incorporated
Fuel oil, residence
Check Number 120
Amount Paid
$ 102.3 5
1,737.92
585.63
1,834.68
675.00
14.88
14.88
117.22
1,021.05
(14)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
04/07/2005 Verizon, Acct. #766-2996,
service to residence
Check Number 118
04/07/2005 Verizon, Acct. #766-6204,
service to residence
Check Number 119
04/12/2005 RSR Appraisers & Analysts
Appraisal, residence (2421 Mt.
Allen Drive) and vacant lot
Check Number 123
04/12/2005 RSR Appraisers & Analysts
Appraisal, 39 acre tract
Check Number 121
04/12/2005 RSR Appraisers & Analysts
Appraisal, 28 Dewberry Street,
Harrisburg
Check Number 124
04/12/2005 RSR Appraisers & Analysts
Appraisal, 234 Liberty Street &
Willow, Harrisburg
Check Number 125
04/22/2005 AT&T, phone 766-2996D,
residence
Check Number 133 _
04/22/2005 AT&T, phone 766-6204,
residence
Check Number 132
04/29/2005 Verizon, Acct. #766-2996,
service to residence
Check Number 136
Amount Paid
29.08
23.48
1,000.00
1,500.00
2,500.00
2,500.00
15.55
15.55
31.45
(15)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
04/29/2005 Verizon, Acct. #766-6204,
service to residence
Check Number 134
05/03/2005 PPL, service to residence
Check Number 137
05/12/2005 Cynthia Clippinger
Reimbursement, Lester Erb,
fuel oil for residence
Check Number 139
05/24/2005 AT&T, phone 766-2996D,
residence
Check Number 142
05/24/2005 AT&T, phone 766-6204,
residence
Check Number 141
05/24/2005 PPL, service to residence
Check Number 140
05/31/2005 ADT Security Services, service
to residence
Check Number 146
05/31/2005 Greenleaf Environmental
Chemical disposal services
Check Number 145
05/31/2005 Verizon, Acct. #766-2996,
service to residence
Cheek Number 147
05/31/2005 Verizon, Acct. #766-6204,
service to residence
Check Number 148
Amount Paid
23.91
62.85
723.01
15.55
15.55
52.91
110.97
1,862.00
29.25
23.89
(16)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
06/07/2005 Clearwater Pool Care, Inc.
Pool maintenance at residence
Check Number 149
06/07/2005 Cynthia Clippinger
Reimbursement, Lester Erb,
fuel oil for residence
Check Number 151
06/07/2005 State Farm
Insurance on 1957 Willys Jeep
Check Number 150
06/28/2005 AT&T, phone 766-2996D,
residence
Check Number 158
06/28/2005 AT&T, phone 766-6204,
residence
Check Number 157
06/28/2005 Commonwealth of
Pennsylvania
Registration renewal for 1957
Willys Jeep
Check Number 154
06/28/2005 Davis Country Living_
Expenses at residence
Check Number 153
06/28/2005 PPL, service to residence
Check Number 152
06/28/2005 Verizon, Acct. #766-2996,
service to residence
Check Number 156
Amount Paid
$ 353.64
453.43
114.25
15.55
15.55
60.00
19.60
123.60
29.35
(17)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
06/28/2005 Verizon, Acct. #766-6204,
service to residence
Check Number 155
07/13/2005 Clearwater Pool Care, Inc.
Pool maintenance at residence
Check Number 181
07/13/2005 Marlin Yohn, Sr., Treasurer
Real estate taxes, residence
Check Number 160
07/13/2005 Marlin Yohn, Sr., Treasurer
Real estate taxes, vacant land
Check Number 161
07/22/2005 Linden A. Shoffner
Painting, labor and materials
Check Number 162
07/26/2005 Cynthia Clippinger
Reimbursement, rental of
dumpster
Check Number 163
07/28/2005 AT&T, phone 766-2996D,
residence
Check Number 167 _
07/28/2005 AT&T, phone 766-6204,
residence
Check Number 168
07/28/2005 PPL, service to residence
Check Number 166
07/28/2005 Verizon, Acct. #766-2996,
service to residence
Check Number 165
Amount Paid
$ 23.89
215.30
9,194.93
507.72
1,250.00
1,450.00
15.45
15.45
158.00
23.55
(18)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
07/28/2005 Verizon, Acct. #766-6204,
service to residence
Check Number 164
08/08/2005 Clearwater Pool Care, Inc.
Pool maintenance at residence
Check Number 169
08/23/2005 AT&T, phone 766-2996D,
residence
Check Number 170
08/23/2005 AT&T, phone 766-6204,
residence
Check Number 171
08/23/2005 PPL, service to residence
Check Number 172
08/31/2005 ADT Security Services, service
to residence
Check Number 173
08/31/2005 Verizon, Acct. #766-2996,
service to residence
Check Number 174 _
08/31/2005 Verizon, Acct. #766-6204,
service to residence
Check Number 175
09/12/2005 Brown Schultz Sheridan &
Fritz
Progress billing, appraisal of
Andrew S. McCreath
Invoice 323373
Check Number 178
Amount Paid
$ 30.23
238.17
15.45
31.09
142.01
110.97
29.04
23.67
2,500.00
(19)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
09/12/2005 Brown Schultz Sheridan &
Fritz
Progress billing, appraisal of
Milfred Corporation
Invoice 323372
Check Number 178
09/20/2005 AT&T, phone 766-2996D,
residence
Check Number 182
09/20/2005 Clearwater Pool Care, Inc.
Pool maintenance at residence
Check Number 179
09/20/2005 PPL, service to residence
Check Number 172
09/30/2005 Cynthia, reimb SECCO
10/04/2005 Clearwater Pool Care, Inc.
Pool maintenance at residence
Check Number 185
10/04/2005 Verizon, Acct. #766-2996,
service to residence
Check Number 188 .
10/04/2005 Verizon, Acct. #766-6204,
service to residence
Check Number 187
10/07/2005 Cynthia Clippinger
Reimbursement, Lester Erb,
fuel oil for residence
Check Number 151
10/20/2005 Register of Wills
Additional probate fees due
Amount Paid
2,500.00
15.46
306.90
146.09
687.00
240.72
29.04
23.67
526.93
300.00
(20)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
11/07/2005 AT&T, phone 766-2996D,
residence
Check Number 199
11/07/2005 AT&T, phone 766-6204,
residence
Check Number 200
11/07/2005 Brown Schultz Sheridan &
Fritz
Final billing, appraisal of
Milfred Corporation
Invoice 324700
Check Number 177
11/07/2005 Brown Schultz Sheridan &
Fritz
Final billing, appraisal of
Andrew S. McCreath
Invoice 324702
Check Number 178
11/07/2005 PPL, service to residence
Check Number 180
11/07/2005 Verizon, Acct. #766-2996,
service to residence
Check Number 201
11/07/2005 Verizon, Acct. #766-6204,
service to residence
Check Number 202
11/29/2005 ADT Security Services, service
to residence
Check Number 206
11/29/2005 AT&T, phone 766-2996D,
residence
Check Number 208
Amount Paid
15.46
15.47
1,000.00
4,000.00
53.58
29.88
23.69
110.97
15.46
(21)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
11/29/2005 AT&T, phone 766-6204,
residence
Check Number 207
11/29/2005 PPL, service to residence
Check Number 180
11/29/2005 Secco Home Services, Inc.
Repair work on furnace in
greenhouse
12/06/2005 Cynthia Clippinger
Reimbursement, payment to
Suburban Energy
12/06/2005 Verizon, Acct. #766-2996,
service to residence
Check Number 212
12/06/2005 Verizon, Acct. #766-6204,
service to residence
Check Number 211
12/13/2005 Cynthia Clippinger
Reimbursement, SECCO
(additional service to
greenhouse furnace) 268.28;
Dell Barr, snow plowing
serices on Friday, Dec. 9 to
open driveway, 75
Check Number 215
12/29/2005 AT&T, phone 766-2996D,
residence
Check Number 217
Amount Paid
15.46
51.91
273.23
171.99
29.05
23.68
343.28
15.45
(22)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
12/29/2005 AT&T, phone 766-6204,
residence
Check Number 216
12/29/2005 PPL, service to residence
Check Number 218
12/29/2005 Verizon, Acct. #766-2996,
service to residence
Check Number 219
12/29/2005 Verizon, Acct. #766-6204,
service to residence
Check Number 220
01/06/2006 Cynthia Clippinger,
reimbursement for payment to
SECCO and Winding Hill
Veterinarian
Check Number 221
01/09/2006 Cynthia Clippinger
Reimbursement, Lester Erb,
fuel oil for residence and
greenhouse
Check Number 222
01/25/2006 AT&T, phone 766-2996D,
residence
Check Number 225
01/25/2006 AT&T, phone 766-6204,
residence
Check Number 224
01/25/2006 PPL, service to residence
Check Number 223
Amount Paid
15.46
66.82
31.62
23.68
149.15
1,590.63
15.43
15.46
91.70
(23)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
02/07/2006 Cynthia Clippinger
Reimbursement, Lester Erb,
fuel oil for residence
Check Number 228
02/07/2006 Verizon, Acct. #766-2996,
service to residence
Check Number 227
02/07/2006 Verizon, Acct. #766-6204,
service to residence
Check Number 226
02/15/2006 Tom Stevenson Generator
Services, repairs to generator
Check Number 229
02/16/2006 State Auto Insurance
Companies
Homeowners' insurance policy
#HPA9849370
Check Number 230
02/24/2006 ADT Security Services, service
to residence
Check Number 231
02/24/2006 PPL, service to residence
Check Number 232
02/27/2006 AT&T, phone 766-2996D,
residence
Check Number 234
02/27/2006 AT&T, phone 766-6204,
residence
Check Number 233
Amount Paid
817.02
31.66
23.68
968.67
2,477.00
110.97
63.75
15.46
15.46
(24)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
03/02/2006 Fred A. Pennington, Jr.,
reimbursement for estate
expenses: repair of leaf blower
and cash advance for trash
disposal
Check Number 238
03/02/2006 Jack Whitey, trash disposal at
Diller's
Check Number 237
03/02/2006 Verizon, Acct. #766-2996,
service to residence
Check Number 236
03/02/2006 Verizon, Acct. #766-6204,
service to residence
Check Number 235
03/07/2006 Verizon, Acct. #766-6204,
service to residence
Check Number 341
03/13/2006 Cynthia Clippinger
Reimbursement, Lester Erb,
fuel oil for residence
Check Number 241
03/13/2006 Marlin Yohn, Sr., Treasurer
Real estate taxes, vacant land
Check Number 239
03/13/2006 Marlin Yohn, Sr., Treasurer
Real estate taxes, residence
Check Number 240
03/22/2006 AT&T, phone 766-6204,
residence
Check Number 242
Amount Paid
225.00
200.00
31.23
23.68
38.13
853.20
143.53
2,599.38
15.46
(25)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
03/27/2006 Dietzel Brothers
Check Number 243
03/28/2006 AT&T, phone 766-2996D,
residence
Check Number 244
03/28/2006 PPL, service to residence
Check Number 245
04/03/2006 Verizon, Acct. #766-2996,
service to residence
Check Number 246
04/11/2006 Cynthia Clippinger
Reimbursement, Lester Erb,
fuel oil for residence
Check Number 247
05/01/2006 Cynthia Clippinger,
reimbursement for payment to
PP&L
Check Number 251
05/02/2006 AT&T, phone 766-2996D,
residence
Check Number 252 .
05/02/2006 Verizon, Acct. #766-2996,
service to residence
Check Number 253
05/08/2006 Cynthia Clippinger,
reimbursement for purchase of
gas weed Wacker for farm
Check Number 254
Amount Paid
660.00
15.46
64.98
29.64
1,087.54
69.01
15.54
31.66
212.00
(26)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
05/08/2006 Cynthia Clippinger
Reimbursement, Lester Erb,
fuel oil for residence
Check Number 254
05/23/2006 AT&T, phone 766-2996D,
residence
Check Number 257
05/23/2006 Cynthia Clippinger,
reimbursement for payment of
work done by Jack Whitley
Check Number 255
05/23/2006 Cynthia Clippinger,
reimbursement for payment to
J. Trimmer for removal of 2
trees at farm
Check Number 256
05/23/2006 Davis Country Living
Equipment for farm
Check Number 258
05/24/2006 PPL, service to residence
Check Number 259
06/01/2006 ADT Security Services, service
to residence
Check Number 261
06/01/2006 Cycle Chem of Lewisberry,
Inc., pesticide disposal
Check Number 263
06/01/2006 Fred A. Pennington, Jr., lawn
care
Check Number 260
Amount Paid
613.66
15.61
131.10
800.00
57.49
52.88
110.97
2,281.00
500.00
(27)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
06/01/2006 Verizon, Acct. #766-2996,
service to residence
Check Number 262
06/14/2006 Citizens Bank, maintenance fee
06/22/2006 AT&T, phone 766-2996D,
residence
Check Number 264
06/22/2006 PPL, service to residence
Check Number 265
07/11/2006 Marlin Yohn, Sr., Treasurer
Real estate taxes, residence
Check Number 267
07/11/2006 Marlin Yohn, Sr., Treasurer
Real estate taxes, 3 1/2 acre
vacant lot
Check Number 266
07/17/2006 Citizens Bank, maintenance fee
07/19/2006 Clarke American, estate checks
08/03/2006 AT&T, phone 766-2996D,
residence
Check Number 271
08/03/2006 PPL, service to residence
Check Number 268
08/03/2006 Verizon, Acct. #766-2996,
service to residence
Check Number 270
Amount Paid
29.59
20.00
15.16
51.22
9,194.93
507.72
20.00
6.73
15.76
46.58
61.55
(28)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
08/07/2006 Cycle Chem of Lewisberry,
Inc., pesticide disposal
Check Number 272
08/07/2006 Lester Erb, Incorporated
Fuel oil, residence
Check Number 273
08/14/2006 Citizens Bank, maintenance fee
08/24/2006 ADT Security Services, service
to residence
Check Number 275
08/24/2006 PPL, service to residence
Check Number 276
08/31/2006 AT&T, phone 766-2996D,
residence
Check Number 274
09/07/2006 Verizon, Acct. #766-2996,
service to residence
Check Number 277
09/15/2006 Citizens Bank, maintenance fee
09/21/2006 PPL, service to residence
Check Number 278
10/02/2006 AT&T, phone 766-2996D,
residence
Check Number 279
10/16/2006 Citizens Bank, maintenance fee
Amount Paid
$ 2,281.00
292.00
20.00
114.84
50.08
15.75
32.01
20.00
42.26
16.97
20.00
(29)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
10/25/2006 PPL, service to residence
Check Number 280
10/25/2006 Suburban Energy Services
Check Number 281
11/08/2006 F. M. Berkheimer, Inc., low
temp thermostats at residence
Check Number 282
11/14/2006 Citizens Bank, maintenance fee
11/22/2006 S&W Petroleum Services, Inc.,
disposal of oil tank
Check Number 283
11/27/2006 PPL, service to residence
Check Number 284
12/07/2006 AT&T, phone 766-2996D,
residence
Check Number 285
12/07/2006 Verizon, Acct. #766-2996,
service to residence
Check Number 286
12/14/2006 Citizens Bank, maintenance fee
12/18/2006 James Clippinger,
reimbursement, trash removal
services
Check Number 287
12/29/2006 ADT Security Services, service
to residence
Check Number 288
Amount Paid
$ 49.63
326.00
97.38
20.00
159.00
99.90
17.33
38.25
20.00
448.00
114.84
(30)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
12/29/2006 AT&T, phone 766-2996D,
residence
Check Number 290
12/29/2006 PPL, service to residence
Check Number 289
01/04/2007 Cynthia Clippinger
Reimbursement, Lester Erb,
fuel oil for residence
Check Number 291
01/04/2007 Verizon, Acct. #766-2996,
service to residence
Check Number 292
01/06/2007 Citizens Bank, maintenance fee
01/23/2007 AT&T, phone 766-2996D,
residence
Check Number 293
01/23/2007 Cynthia Clippinger,
reimbursement for payment to
Gibbs Plumbing for work at
farm (replace oil filter, check
burner & boiler)
Check Number 294
01/25/2007 PPL, service to residence
Check Number 295
02/08/2007 Verizon, Acct. #766-2996,
service to residence
Check Number 296
Amount Paid
23.49
153.78
1,288.21
34.30
20.00
16.84
100.00
289.37
33.77
(31)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
02/13/2007 Tom Stevenson Generator
Services, repairs to generator
Check Number 299
02/15/2007 PPL, service to residence
Check Number 300
02/22/2007 Citizens Bank, overdraft fee
02/26/2007 Citizens Bank, overdraft fee
02/28/2007 Rhoads & Sinon LLP
Reserve for expenses and filing
fees
Check Number 92
03/07/2007 AT&T, phone 766-2996D,
residence
Check Number 342
03/07/2007 Clarke American, estate checks
05/25/2007 Miscellaneous expense
Check Number 107
06/20/2007 Marlin Yohn, Sr., Treasurer
Real estate taxes, 3 1/2 acre
vacant lot
Check Number 108
07/18/2007 Marlin Yohn, Sr., Treasurer
Real estate taxes, 3 1/2 acre
vacant lot (Mechanicsburg
School District)
09/18/2007 Fred A. Pennington, Sr.
Residuary Trust, repay loan to
estate
Check Number 110
Amount Paid
$ 507.74
260.10
35.00
35.00
2,303.12
3.28
14.03
121.26
147.01
524.73
129,648.56
(32)
Disbursements of Principal (Continued)
Date Paid
Administration Expenses
03/15/2008 Marlin Yohn, Sr., Treasurer
Real estate taxes, 3 1/2 acre
vacant lot (Mechanicsburg
School District)
Check Number 111
05/09/2008 RESERVED: Rhoads & Sinon
LLP, reimbursement for final
costs and expenses
05/09/2008 RESERVED: Escrowed funds
to beheld for future
disbursement
Total Administration Expenses
Federal and State Taxes
04/12/2005 Register of Wills, Agent
Payment on account of PA
Inheritance Tax
Check Number 128
10/15/2005 Register of Wills, Agent
PA Inheritance Tax, balance
due
10/15/2005 United States Treasury
Federal Estate Tax
04/12/2006 Pennsylvania Department of
Revenue
Fiduciary income tax f/p/e
12/30/2005
Check Number 249
04/12/2006 United States Treasury
Fiduciary income tax f/p/e
12/30/2005
Check Number 248
04/12/2008 PA Department of Revenue
2007 PA-41
Check Number 113
Amount Paid
147.01
335.00
10,000.00
$ 225,119.91
$ 120,000.00
8,373.57
1,919,508.82
712.00
2,035.86
5,180.00
(33)
Disbursements of Principal (Continued)
Date Paid Amount Paid
Federal and State Taxes
04/12/2008 United States Treasury $ 30,602.28
Fiduciary Income Taxes f/p/e
12/31 /2007
Check Number 112
Total Federal and State Taxes $ 2,086,412.53
Fees and Commissions
02/28/2007 Rhoads &Sinon LLP $ 75,000.00
Attorneys' fees
Check Number 92
05/09/2008 RESERVED: Rhoads &Sinon 17,500.00
LLP, attorneys' fees, final bill
05/09/2008 RESERVED: 20,000.00
Cynthia Clippinger, Executrix'
fees
Total Fees and Commissions $ 112,500.00
Total Disbursements of Principal $ 2,452,887.14
(34)
Estate of Elizabeth W Pennington
Distributions of Principal to Beneficiaries
Distribution Value
Pursuant to "ARTICLE IV(A)"
of the Trust, the following
distributions were made to:
Cynthia Clippinger
02/16/2007 Cash
03/21/2007 Cash
04/17/2007 Cash
Total To Or For Beneficiary
Pursuant to "ARTICLE V(A)"
of the Trust, the following
distributions were made to:
Fred A. Pennington, Jr.
02/16/2007 Cash
03/21/2007 Cash
04/17/2007 Cash
Total To Or For Beneficiary
Pursuant to "ITEM III" Under the
Will, the following distributions
were made to:
Fred A. Pennington, Jr.
12/20/2005 Household furniture and furnishings
and personal articles
Total To Or For Beneficiary
Cynthia Clippinger
12/20/2005 Household furniture and furnishings
and personal articles
Total To Or For Beneficiary
$ 25,000.00
25,000.00
3,705.44
$ 53,705.44
$ 53,705.44
$ 25,000.00
25,000.00
3,705.44
$ 53,705.44
$ 53,705.44
$ 23,619.50
$ 23,619.50
$ 23,619.50
$ 23,619.50
$ 23,619.50
$ 23,619.50
(35)
Distributions of Principal to Beneficiaries (Continued)
Distribution Value
Pursuant to "ITEM IV" Under the
Will, the following distributions
were made to:
The Elizabeth W. Pennington
Revocable Trust U/A dated 9/28/82,
as restated and amended
05/09/2008 3.5 acres of vacant land adjoining $ 100,000.00
residence on Mt. Allen Drive, Upper
Allen Township, Cumberland
County, PA.
$ 100,000.00
05/09/2008 Cash 1,360.31
05/09/2008 Cash 1,023,500.63
$ 1,024,860.94
Total To Or For Beneficiary
Total Distributions of Principal to Beneficiaries
Total Distributions of Principal
$ 1,124,860.94
$ 1,279,510.82
$ 1,279,510.82
(36)
Estate of Elizabeth W Pennington
Principal Balance On Hand
Inventory Value
Total Balance on Hand
0.00
(37)
Estate of Elizabeth W Pennington
Information Schedules -Principal
Inventory
Value
Exchanges and Stock Distributions
4 $50 American Express Travelers Cheques
01/16/2005 Received
02/16/2005 Redeemed
Allmerica Financial, annuity check issued after death
02/16/2005 Received
02/23/2005 Collected
Allmerica Financial Life Insurance and Annuity Company, annuity
payments:
Check dated 1/10/2005, $1,284.12; check dated 1/11/2005, $270
01/16/2005 Received
02/16/2005
Collected
Income checks from decedent's revocable trust account issued before death:
MFS Muncipal High Income Fund-A, $23.56; MFS Municipal High Income
Fund-A, $23.56; Raymond James, $786.50; Raymond James, $508.75
01/16/2005
02/16/2005
Received
Collected
Denison Mines, Inc.
01/16/2005 13 Shs. Received
11/17/2005 (13) Shs. Sold
200.00
(200.00)
1,284.12
(1,284.12)
1,554.12
(1,554.12)
1,342.37
(1,342.37)
12.22
(12.22)
(38)
Information Schedules -Principal (Continued)
Inventory
Value
Exchanges and Stock Distributions
Elizabeth W. Pennington Revocable Trust, transfer from Fulton Account to
pay death taxes
10/11/2005 Received
10/12/2005 Collected
Fred A. Pennington SR. QTIP Trust, accumulated and accrued income to
date of death of Elizabeth W. Pennington
04/12/2006 Received
04/12/2006 Collected
Fred A. Pennington Sr. Residuary Trust, income accumulated and accrued
to date of death of Elizabeth W. Pennington
04/12/2006 Received
04/12/2006 Collected
Forte Res Inc.
01/16/2005 2 Shs. Received
10/12/2005 (2) Shs. Retired as worthless
Fred A. Pennington Residuary Trust, loan from Hershel Trust Account per
Note dated October 14, 2005
10/12/2005 Collected
10/14/2005 Received
$ 926,500.00
(926,500.00)
613.20
(613.20)
2,849.05
(2,849.05)
2.85
(2.85)
(129,648.56)
129,648.56
(39)
Information Schedules -Principal (Continued)
Inventory
Value
Exchanges and Stock Distributions
Merrill Lynch Global Allocation CL I
01/16/2005 423.122 Shs. Received
03/10/2005 (423.122) Shs. Sold
Merrill Lynch FL Muni Bond Fund A
01/16/2005 744.657 Uts. Received
03/10/2005 (744.657) Uts. Sold
Munienhanced FD Inc.
01/16/2005 2,547 Shs. Received
03/10/2005 (1,547) Shs. Sold
1,000 Shs. On Hand
03/10/2005 (1,000) Shs. Sold
State Farm Mutual Automobile Insurance Company, refund, ins. on 1957
Willys Jeep
10/04/2005 Received
10/04/2005 Collected
PA Department of Revenue, refund for overpayment of 2004 income taxes
01/16/2005 Received
06/03/2005 Collected
Refund, State Farm Mutual Automobile Insurance Company
01/16/2005 Received
06/03/2005 Sold
03/21/2007 Received
On Hand
03/21 /2007 Collected
Verizon, refund, service at residence
05/31/2006 Received
05/31/2006 Collected
$ 6,871.50
(6,871.50)
7,729.54
(7,729.54)
27,885.83
(16,937.33)
$ 10,948.50
(10,948.50)
62.84
(62.84)
346.00
(346.00)
55.41
(55.41)
122.00
$ 122.00
(122.00)
3.54
(3.54)
(40)
Information Schedules -Principal (Continued)
Inventory
Value
Exchanges and Stock Distributions
Residence and outbuildings situate on 15.902 acres of real property, known
as 2421 Mt. Allen Drive, Lower Allen Township, Cumberland County, PA.
O1 / 16/2005 Received
02/08/2007
04/ 17/2007
Sold
$1,497,6001ess net credits
and expenses of $80,286.12
(See also 4/17/2007 entry
below, refund of escrowed
funds)
Sold
Refund of funds escrowed
at sale of residence. Add
into sale proceeds at
2/08/2007 entry above)
Fred A. Pennington Residuary Trust, contribution of Trust's portion of
Federal Estate Tax
10/12/2005 Received
10/12/2005 Collected
Household furniture and furnishings and personal articles
01/16/2005 Received
Valued per attached
appraisal
07/22/2005 Sold
Sale of farm items as
follows: 2 tractors 2,000
and 3,000; bush hog 300;
front plow 100; sickle bar
200; ditch witch 100;
chipper 200; blade 100
On Hand
07/22/2005 Sold
Sale of mower
On Hand
$ 1,200,000.00
(1,200,000.00)
0.00
881,054.55
(881,054.55)
60,174.00
(6,000.00)
$ 54,174.00
(1,000.00)
$ 53,174.00
(41)
Information Schedules -Principal (Continued)
Inventory
Value
Exchanges and Stock Distributions
Household furniture and furnishings and personal articles
09/23/2005 Sold $ (4,050.00)
Sale of 1957 Willys,
$3,500; Golf cart, $200;
Roll of wire, $50;
Skidloader backhoe, $300
On Hand $ 49,124.00
12/15/2005 Sold (1,350.00)
Sale of bobcat, mower, and
rototiller to Harvey Cressler
On Hand $ 47,774.00
12/15/2005 Sold (535.00)
Sale of farm equipment
On Hand $ 47,239.00
12/20/2005 Distribution (23,619.50)
To Cynthia Clippinger
12/20/2005 Distribution (23,619.50)
To Fred A. Pennington, Jr.
Elizabeth Pennington Trust, deposit of fun ds from Fulton Bank account
11/03/2006 Received 4,279.55
11/03/2006 Collected (4,279.55)
3.5 acres of vacant land adjoining residence on Mt. Allen Drive, Upper
Allen Township, Cumberland County, PA.
01/16/2005 - Received 100,000.00
05/09/2008 Distribution (100,000.00)
To The Elizabeth W.
Pennington Revocable
Trust U/A dated 9/28/82, as
restated and amended
Verizon, refund, telephone service at Messiah Village
01/16/2005 Received 15.71
02/23/2005 Collected (15.71)
(42)
Estate of Elizabeth W Pennington
Receipts of Income
Income Collected
Income checks from decedent's revocable
trust account issued before death: MFS
Muncipal High Income Fund-A, $23.56;
MFS Municipal High Income Fund-A,
$23.56; Raymond James, $786.50;
Raymond James, $508.75
02/23/2005 Check dated 1/28/2005
643.81
Citizens Bank Acct. #6100905292
Contribution to the Estate by joint
owner, Cynthia Clippinger
02/ 16/2005 Interest $ 151.94
$ 643.81
151.94
Citizens Bank Estate Checking Acct.
#6206800354
06/14/2005 Interest $ 15.13
07/15/2005 Interest 29.20
08/15/2005 Interest 23.46
09/15/2005 Interest 26.12
10/17/2005 Interest 343.50
11/15/2005 Interest 26.52
12/14/2005 Interest - 23.12
01/17/2006 Interest 27.52
02/ 14/2006 Interest 21.57
03/14/2006 Interest 19.16
04/ 14/2006 Interest 17.20
05/12/2006 Interest 14.99
06/14/2006 Interest 15.15
(43)
Receipts of Income (Continued)
Citizens Bank l
#6206800354
07/17/2006
08/14/2006
09/15/2006
10/16/2006
11/14/2006
12/14/2006
O 1 / 16/2007
01/29/2007
estate Checking Acct.
Interest
Interest
Interest
Interest
Interest
Interest
Interest
Interest
Citizens Checking Acct. #6100716856
Contribution to the Estate by joint
owner, Cynthia Clippinger
O 1 /31 /2005 Interest
Citizens Bank l
#621631-314-6
03/05/2007
04/04/2007
05/03/2007
06/05/2007
07/05/2007
08/03/2007
09/03/2007
10/03/2007
11/03/2007
12/03/2007
01/04/2008
Money Market Acct.
Interest
Interest
Interest
Interest .
Interest
Interest
Interest
Interest
Interest
Interest
Interest
12.90
1.05
0.21
0.17
0.37
0.91
0.81
0.17
26.36
2,274.48
4,651.20
4,401.28
4,964.09
4,534.87
4,398.48
5,173.23
3,718.15
3,957.39
3,562.01
3,534.91
$ 619.23
26.36
(44)
Receipts of Income (Continued)
Citizens Bank Money Market Acct.
#621631-314-6
02/03/2008 Interest $ 3,739.15
03/03/2008 Interest 2,754.94
04/03/2008 Interest 2,165.55
05/03/2008 Interest 1,968.89
Elizabeth W. Pennington Revocable
Trust
04/25/2008 Final income on Raymond $ 12.07
James Trust brokerage account
Interest on sale of residence
due to postponement of settlement
01/29/2007 Miscellaneous Income $ 12,546.88
Merrill Lynch CMA PA Municipal
Money Fund
01/28/2005 Dividend $ 5.56
02/14/2005 Dividend 3.26
11/19/2005 Dividend 5.15
Merrill Lynch FL Muni Bond Fund A
01/24/2005 Dividend on 744.657 Units $ 33.23
02/22/2005 Dividend on 744.657 Units 27.52
03/23/2005 Dividend on 744.657 Units 15.17
$ 55,798.62
12.07
12,546.88
13.97
75.92
Munienhanced FD Inc.
01/28/2005 Dividend on 2,547 Shares $ 155.37
02/25/2005 Dividend on 2,547 Shares 155.37
(45)
Receipts of Income (Continued)
Munienhanced FD Inc.
310.74
Total Income Collected
Total Income Received
$ 70,199.54
$ 70,199.54
(46)
Estate of Elizabeth W Pennington
Gains and Losses on Sales or Other Dispositions of Income
Net Gain
02/16/2005 Collection
Citizens Checking Acct.
#6100716856
Contribution to the Estate by joint
owner, Cynthia Clippinger
Net Proceeds
Inventory Value
Total Gains and Losses
No Gain or Loss
26.36
26.36
Net Loss
$ 0.00 $ 0.00
(47)
$ 0.00
Estate of Elizabeth W Pennington
Disbursements of Income
Date Paid
Administration Expenses
02/08/2007 Milfred Corporation
Pro rated share of January
interest due to postponement of
sale of residence
Check Number 298
09/18/2007 Fred A. Pennington, Sr.
Residuary Trust, repay loan to
estate
Interest on loan
Check Number 110
Total Administration Expenses
Federal and State Taxes
03/26/2007 PA Department of Revenue
2006 PA-41
Check Number 305
Total Federal and State Taxes
Total Disbursements of Income
Amount Paid
2,760.31
10,158.76
$ 12,919.07
4.00
$ 4.00
$ 12,923.07
(48)
Estate of Elizabeth W Pennington
Distributions of Income to Beneficiaries
Distribution Value
Pursuant to "ITEM IV" Under the
Will, the following distributions
were made to:
The Elizabeth W. Pennington
Revocable Trust U/A dated 9/28/82,
as restated and amended
05/09/2008 Cash
05/09/2008 Cash
Total To Or For Beneficiary
Total Distributions of Income to Beneficiaries
8.24
57,268.23
$ 57,276.47
Total Distributions of Income
$ 57,276.47
$ 57,276.47
$ 57,276.47
(49)
Estate of Elizabeth W Pennington
Income Balance On Hand
Inventory Value
Total Balance on Hand
0.00
(50)
Estate of Elizabeth W Pennington
Information Schedules -Income
Inventory
Value
Exchanges and Stock Distributions
(51)
VERIFICATION FOR ACCOUNTING
CYNTHIA CLIPPINGER, Executrix under the Will of ELIZABETH W. PENNINGTON,
Deceased, hereby declares under oath that she has fully and faithfully discharged the duties of her 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
her 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 occurred
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 4904 relating to unsworn
falsification to authorities.
/~
Dated:_ _~I'ie~ ~ ~ll~
~-
~.- 7
Cynthia Clippi ~ er, E cutrix
v