HomeMy WebLinkAbout09-09-08IN RE:
ESTATE OF SUSAN LYDIA HARVEY,
DECEASED
IN THE COURT' OF COMMON PLEAS
CUMBERLAND CO., PENNSYLVANIA
ORPHANS' COURT DIVI~IQN ~ .~
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IT AND FINAL RELEASE~~ ~' -=.
IRVEY. DECEASED =,,~ '~' ~;;~
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KNOW ALL MEN BY THESE PRESENTS, that:
WHEREAS, Susan Lydia Harvey, late of Carlisle Borough, Cumberland County,
Pennsylvania, died testate on December 29, 2007:
WHEREAS, Letters Testamentary on the Estate of the Decedent, were duly issued by
Glenda Famer Strasbaugh, the Register of Wills of Cumberland County to the Executor, William H.
Harvey on January 29, 2008;
WHEREAS, the Executor has gathered the assets of the Estate of the Decedent and the
assets consist of personal property with a total liquidation value of $73,788.28 as set forth in the
Statement of Account which is attached hereto and marked Exhibit "A' ;
WHEREAS, the Executor has paid the debts of the Estate in the total amount of
$31,459.61, as set forth in the Statement of Account;
WHEREAS, in the Decedent's Last Will and Testament dated July 9, 1980, the Decedent
left her Estate to be divided equally among her four children, William H. Harvey, Agnes Schneider,
Lillian Hall and Paul Harvey, Jr.;
WHEREAS, the Executor and the residuary beneficiaries have agreed to treat as Estate
assets and to include in the Statement of Account for equal distribution among all four residuary
beneficiaries the following assets co-owned by the Decedent and the persons indicated below:
1. Wachovia Bank, NA, Certificate of Deposit No. 247412041075509, co-owned with
William H. Harvey, with a liquidation value of $2,813.60;
2. 823 shares of First Energy Corp. stock, co-owned with William H. Harvey, with a
liquidation value of $56,693.18;
3. Citizens Bank Checking Account No. 610068-154-8, co-owned with Agnes
Schneider, with a liquidation value of $6,644.29;
4. Citizens Bank Checking Account No. 621819-047-5, co-owned with Agnes
Schneider, with a liquidation value of $5,750.47.
WHEREAS, between the date of the Decedent's death on December 29, 2007 and the
date of the liquidation of the two Citizens Bank Checking Accounts on February 11, 2008, Agnes
Schneider deposited into one of the Accounts a $225.00 refund from United Health Care and the
following amounts were removed from the Checking Accounts for the following reasons:
1. $5.55 paid 12/29/07 to American Diagnostic for Decedent's medical services;
2. $240.00 paid 12/31/07 to Rolling Green Cemetery Company for Decedent's burial;
3. $1,166.30 removed 1/4/08 by Social Security as an overpayment; and
4. $10,713.55 paid 1/21/08 to Neill Funeral Home for Decedent's funeral.
The aforementioned asset and debts are not included on the Statement of Account, since the
monies have been accounted for in the liquidation values of the Citizens Bank Checking Accounts;
WHEREAS, the residuary beneficiaries agree that the Estate shall be financially
responsible for all income tax liabilities or accountant's fees incurred by Agnes Schneider and
William H. Harvey resulting from their liquidation of the assets co-owned with the Decedent and in
consideration for their decision to allow the assets to be divided equally among all four residuary
beneficiaries. Monies to cover the tax liabilities and accountant's fees for William H. Harvey and
Agnes Schneider shall be included in the monies to be held in Reserve;
WHEREAS, at the time of her death, the Decedent owned a Citizens Investment Services
Account No. L7C031887 with a date of death balance of $252,718.15, which Account was payable
on death, in equal shares to the Decedent's four children. The monies in the Account have been
distributed directly to each of the four signators of this Agreement and therefore the Citizens
Investment Services Account is not included as an asset on the Statement of Account;
WHEREAS, the amount of $8,000.00 has been reserved and will be placed in the non-
interest bearing escrow account at Purcell, Krug & Haller in order to address any outstanding debts
that may be owed by the Estate, including, but not limited to, additional attorney's fees, accountant
fees for preparation of the 2008 Estate Income Tax Returns and payment of the Estate income tax
liabilities for 2008; and any tax liabilities or accountant fees incurred by Agnes Schneider and
William H. Harvey for their 2008 liquidation of the assets identified in Paragraph 6 of this
Agreement. Once counsel for the Estate determines that the reserved funds are not needed, the
balance remaining from the reserve will be distributed equally among the four residuary
beneficiaries;
WHEREAS, the balance for cash distribution is the amount of $34,328.67, which will be
distributed in accordance with the Statement of Distribution which is attached hereto and
marked Exhibit "B";
WHEREAS, William H. Harvey, Agnes Schneider, Lillian Hall and Paul Harvey, Jr.
acknowledge that they have had an opportunity to have this Family Settlement Agreement and
Final Release reviewed by outside counsel and state that they have waived such right
voluntarily, knowingly and intelligently, without any influence being exerted upon them by the
persons or entities being released.
NOW, THEREFORE, we, William H. Harvey, Agnes Schneider, Lillian Hall and Paul
Harvey, Jr., as the four residuary beneficiaries of the assets of the Estate of Susan Lydia
Harvey, do hereby acknowledge that we have received the liquidated proceeds of all assets due
us by virtue of the Decedent's Last Will and Testament, as set forth on the Statement of
Distribution attached hereto and marked Exhibit "B".
AND, we do hereby stipulate that in order to avoid the expense and time involved in the
filing of a formal account and proposed schedule of distribution, we agree that no formal
account is necessary to be filed with the Cumberland County Register of Wills and we consent
to distribution being made without the formal filing of an account and schedule of distribution.
This Family Settlement Agreement and Final Release will be with the same force and effect as if
the document had been filed and confirmed by the Cumberland County Orphans' Court Division.
THEREFORE, we do hereby release, indemnify and forever discharge and hold
harmless William H. Harvey, the Executor and Jill M. Wineka, Esquire, and the law firm of
Purcell, Krug & Haller, the Attorneys for the Estate, their assigns, executors and administrators,
from all actions, suits, payments, accounts, and claims whatsoever, touching upon the Estate of
the Decedent. We also agree that should any liability come due the Estate after the signing of
this Agreement which exceeds the amount of $8,000.00 being held in reserve, we agree that we
shall equally share the financial responsibility for satisfying any and all fees, taxes, liabilities,
claims, demands, suits or causes of action which may be successfully prosecuted or assessed
against the Estate after the signing, sealing and delivery of this Family Settlement Agreement
and Final Release, along with any income tax liabilities or accountant's fees incurred by Agnes
Schneider and William H. Harvey as it relates to their decision to share equally the assets co-
owned by the Decedent.
The parties acknowledge that this Family Settlement Agreement and Final Release will
be signed and notarized separately by each of the four beneficiaries. The four original
signatures will be attached to the original Family Settlement Agreement and Final Release and
filed of record with the Cumberland County Orphans' Court.
IN WITNESS WHEREOF, I have set my hand and seal to the Family Settlement
Agreement and Final Release on the dates as indicated below.
WITNESS:
William .Harvey
Date:
COMMONWEALTH OF PENNSYLVANIA
~o ~~ ss:
COUNTY OF
sr
On this, the ~~ day of ~ ~ F ~ r r 2008, before me, a Notary
Public, the undersigned officer, personally appeared William H. Harvey, known to me (or
satisfactorily proven) to be the person who name is subscribed to the within instrument, and
acknowledged that he executed this Family Settlement Agreement and Final Release for the
purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
COMMONWEALTH OF PENNSYLVANIA (SEAL)
~ Notary Public
PaUrctia A Gordon, Notary Public
Fairview Twp., York County
My Commissbn Expires,lt~y 31,2009
Member, Pennsylvania Association of Notarfes My Commission Expires: 7 ~3 1 ~~
IN WITNESS WHEREOF, I have set my hand and seal to the Family Settlement
Agreement and Final Release on the dates as indicated below.
WITNESS:
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF ~~r~~-
Agnes Schneider
date: O~''~ a3 / ~-~8
ss:
On this, the oC3 day of 1'1 (s'~~-(]~~ 2008, before me, a Notary
Public, the undersigned officer, personally appeared Agnes Schneider, known to me (or
satisfactorily proven) to be the person who name is subscribed to the within instrument, and
acknowledged that she executed this Family Settlement Agreement and Final Release for the
purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
COMMONWEAL:IH Ur Yl~Nivs'iCLV;
Notarial Seal
Denise M. Chubb, Notary PubNc
Commiss~ro ~ ~ Cooney
My F~iros Od. 31,2009
w Q
`"~-~' (SEAL)
Notary Public
Memtrer, Pen~ea•-rP' ;., r° wnts~rier~
My Commission Expires: ~ p ~3 l l ~c~
IN WITNESS WHEREOF, I have set my hand and seal to the Family Settlement
Agreement and Final Release on the dates as indicated below.
STATE OF MARYLAND
COUNTY OF ~on~9am~-~'~(
Lillian Hall
Date:
ss: ~lgl--~o~ ~'~ ~.o
On this, the ~ day of - 2008, before me, a Notary
Public, the undersigned officer, personally appeared Lillian Hall, known to me (or satisfactorily
proven) to be the person who name is subscribed to the within instrument, and acknowledged
that she executed this Family Settlement Agreement and Final Release for the purposes therein
contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
(SEAL)
otary lic
My Commission Expires:
HANNA ATSEBHA
i, Notary Public
Montgomery Co., MD
My Comm. Exps. July 18, 2010
IN WITNESS WHEREOF, I have set my hand and seal to the Family Settlement
Agreement and Final Release on the dates as indicated below.
~~jE ~ ,
C__// .-_....
Paul Harvey; Jr.
Date: ~ ~ OZ d0 U
STATE OF TEXAS
_ p ss:
COUNTY OF (~~" ~~~
On this, the ~ day of ~ 2008, before me, a Notary
Public, the undersigned officer, personally appeared Paul Harvey, Jr., known to me (or
satisfactorily proven) to be the person who name is subscribed to the within instrument, and
acknowledged that he executed this Family Settlement Agreement and Final Release for the
purposes therein contained.
!N WITNESS WHEREOF, I hereon±o set my hand and official seal.
%~ (SEAL)
N tary Publi
My Commission Expires: i~CLl~1(~+
~'' ~4~ ~ 'rrF13 ?,. ALVAREZ
=+i~ r'- fv''i t,;~~t~,>SiON EXPIRES
~'~#,'.~;„;:~' J~'~taiy 31,2012
STATEMENT OF ACCOUNT
ASSETS:
.361 share of FirstEnergy Corp. @ $69.6469/share $ 25.14
United Health Care -refund 225.00
AARP -refund 32.50
Highmark -refund 295'82
First Energy Corp. -dividends 452.65
First Energy Corp. -dividend .20
Citizens Bank Checking Acct. No. 610068-154-8 -liquidation value 6,644.29
Citizens Bank Checking Acct. No. 621819-047-5 -liquidation value 5,750.47
823 shares of FirstEnergy Corp. stock @ $68.8860 -liquidation value 56,693.18
Wachovia Bank Certificate of Deposit #247412041075509 -liquidation value 2,813.60
Estate Checking Account -interest earned from 2/11/08 to 6/30/08 21.48
Estate Money Market Account -interest earned from 4/8/08 to 6/30/08 259.48
PA Dept. of Revenue -refund of inheritance taxes 574.47
TOTAL ASSETS $~
DEBTS:
Register of Wills -probate fees $ 325.00
Register of Wills -automation fee, JCP fee Short Certificates 47.00
Cumberland Law Journal -advertising 75.00
The Sentinel -advertising 174.58
Register of Wills - PA Inheritance Tax Return filing fee 15.00
Register of Wills -Inventory filing fee 15.00
EXHIBIT "A"
MCHS Carlisle -nursing home expenses 2,064.00
PA Department of Revenue - 2007 Income Taxes 207.00
Register of Wills, Agent -Inheritance taxes 12,000.00
Samuel Thuma, CPA -accountant fees for 2007 Person Income Tax Returns 325.00
William H. Harvey -Personal Representative's Commission 8,900.00
Purcell, Krug & Haller -attorney's fees from 1/04/08 to 4/08/08 5,360.00
Purcell, Krug & Haller -regular/certified mail postage; overnight mail postage to
04/08/08 44.03
Estate Checking Account -service charges from 2/11/08 to 6/30/08 6.00
Estate Money Market Account -monthly maintenance fees from 4/8/08 to
6/30/08 32.00
Register of Wills -fee to file Family Settlement Agreement and Final Release 20.00
Purcell, Krug & Haller -attorney's fees from 4/9/08 to 8/7/08 1,850.00
TOTAL DEBTS ~~
STATEMENT OF DISTRIBUTION
TOTAL GROSS ASSETS:
TOTAL GROSS DEBTS:
NET AMOUNT AVAILABLE FOR DISTRIBUTION
Reserve
BALANCE FOR CASH DISTRIBUTION
William H. Harvey
Agnes Schneider
Lillian Hall
Paul Harvey, Jr.
EXHIBIT "B"
$73,788.28
$31,459.61
$ 8,000.00
$8, 582.17
$8, 582.17
$8, 582.17
$8,582.16