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HomeMy WebLinkAbout09-10-08 (3)#F:\FILFS\Clienis\10590 Clifford\10590.2.dislaimecrev t• ESTATE OF WILLIAM E. CLIFFORD, DECEASED n N0.21-08-0088 n C O ao _~ -1-a t'_ r-t --" -~ cn E , i =~ cTi DISCLAIMER AND RENUNCIATION __ ~ z c~ -v t _a~i t 7 C,, _? {:,- : ~~ r ~'` ~' M _ ` o To: Jane E. Clifford and : cn - ~ ~ ~ Manufacturers and Traders Trust Company ~, ~ ; f ~1 ~~ 11 ~Jtw Executors of the Estate of William E. Clifford ,; c. -( j ~' ~~< r-~ ,_ -+ I, MARIE A. CLIFFORD, by her Agent, JANE E. CLIFFORD, appointed in Povier of Atto~ey ~~ dated July 17, 2003 (copy attached hereto), hereby exercise the rights granted to me in Chapter 62 ofthe Probate, Estates and Fiduciaries Code (the "PEF Code"), and I hereby disclaim and renounce any interest to which I may be entitled under Item Three of the Last Will and Testament of William E. Clifford dated October 15, 2003, and under applicable law, to the following assets or proceeds from the sale thereof Probate Assets of Decedent: Date of Death Value 156 shares Prudential Financial @ 96.87 15,111.72 Accrued interest to 156 shares Prudential Financial 179.00 M&T Brokerage Account No. AZD-280600 [see Estate Valuation attached identified as File ID: 10590.2.M&T] 1,808,427.04 M&T Checking Account No. 2675049932 4,824.28 Total Probate Assets of Decedent 1,828,542.04 Decedent's one-half interest in Assets owned jointly with Marie A Clifford spouse: 2000 shares Exxon Mobil Corp @ 92.07 [ 184,140.00] 92,070.00 Mellon Account [see Estate Valuation attached identified as File ID: 10590.2.mellon] 75,093.71 Portion of Stifel Nicolaus & Co [see Estate Valuation attached identified as File ID: 10590.2.stifel] 72,916.38 240,080.09 Less portion of above funds used for estate expenses M&T Bank, fee 50,677.35 Manson Law Offices, fee 25,000.00 Administration expenses 1,400.00 Funeral expenses 7,494.00 PA Inheritance Tax 80,050.78 -164,622.13 TOTAL FUNDS DISCLAIMED 1,904,000.00 IN WITNESS WHEREOF, intending to be legally bound hereby and intending that this Disclaimer and Renunciation shall be filed of record in the Office of the Clerk of the Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania, as provided in Section 6204 of the PEF Code, I have hereunto set my hand and seal this ~ day of ~~ , ~e~ , C~ ,~ e E. Cli ord, A for arie A. Clifford COMMONWEALTH OF PENNSYLVANIA ) ss. COUNTY OF ~/.Li-~~ .~ / ) / On this, the ~ day of //~~~/ , 2008, before me, a Notary Public, the undersigned officer, personally appeared Jane E. Clifford, known to me (or satisfactorily proven) to be the person whose name is subscribed as agent for Marie A. Clifford, and acknowledged that she executed the same as the free act of her principal for the purposes ther ' contained. t~ ~ /~ 9yv~ Not Publi co~oNws~m of PE~arsr~.y~- NOTARIAL SEAL DYANNE J. GLASS, Notaq-Pubic (~/ C.~n~ior~'Novwnb~c~2 2010 1 F:\FILES\DATAFILE\Estaze PlanningU0590-w.poa POWER OF ATTORNEY ~ O p ~~ MARIE A. CLIFFORD to WILLIAM E. CLIFFORD or JANE E. CLIFFORD NOTICE THE PURPOSE OF THIS POWER OFATTORNEYIS TO GIVE THE PERSON YOU DESIGNATE (YOUR "AGENT') BROADPOWERS TOHANDLE YOUR PROPERTY, WHICH MAY INCLUDE POWERS TO SELL OR OTHERWISE DISPOSE OF ANY REAL OR PERSONAL PROPERTY WITHOUTADVANCE NOTICE TO YOUOR APPROVAL BY YOU. THIS POWER OFATTORNEYDOES NOT IMPOSE A DUTY ON YOUR AGENT TO EXERCISE GRANTED POWERS, BUT WHENPOWERSARE EXERCISED, YOUR AGENT MUST USEDUE CARE TOACTFOR YOUR BENEFITAND INACCORDANCE WITHTHIS POWER OFATTORNEY. YOURAGENTMAYEXERCISE THEPOWERS GIVENHERETHROUGHOUT YOUR LIFETIME, EVENAFTER YOUBECOME INCAPACITATED, UNLESS YOUEXPRESSLY LIMIT THE DURATION OF THESE POWERS OR YOUREVOKE THESE POWERS OR A COURT ACTING ON YOUR BEHALF TERMINATES YOUR AGENT'S A UTHORITY. YOUR AGENT MUST KEEP YOUR FUNDS SEPARATE FROM YOUR AGENT'S FUNDS. A COURT CAN TAKEAWAY THE POWERS OF YOUR AGENT IF IT FINDS YOUR AGENT IS NOT ACTING PROPERLY. THE POWERS AND DUTIES OF AN AGENT UNDER A POWER OF ATTORNEY ARE EXPLAINED MORE FULLYIN THE PENNSYLVANIA PROBATE, ESTATES AND FIDUCIARIES CODE, 20 PA. C.S. CHAPTER 56. IF THEREISANYTHINGABOUT THISFORM THAT YOUDONOT UNDERSTAND, YOU SHOULD ASK A LA WYER OF YOUR OWN CHOOSING TO EXPLAIN IT TO YOU. I HA VE READ OR HAD EXPLAINED TO ME THIS NOTICE AND I UNDERSTAND ITS CONTENTS. Date: o Mane A. Clifford r -1- i' I, MARIE A. CLIFFORD, of 1001 Hillside Drive, Carlisle, PA, 17013, hereby revoke any general power of attorney that I have heretofore given to any person and do hereby appoint WILLIAM E. CLIFFORD, of 1001 Hillside Drive, Cazlisle, PA, 17013, or in the event he is unable or unwilling to so act, I appoint my daughter, JANE E. CLIFFORD, of 500 Penn Valley Road, Nazberth, PA, 19072, as my agent ("my agent") with full power of substitution, forme and in my name, to transact all my business and to manage all my property and affairs as I might do if personally present, including but not limited to exercising the following powers. Durable Power of Attorney This power of attorney shall not be affected by my subsequent disability or incapacity. All acts done by my agent pursuant to this power during any period of my disability or incapacity shall have the same effect and enure to my benefit and bind me and my successors in interest as if I were competent and not disabled. Powers of Agent I hereby empower my agent to do any or all of the following, each of which is fully defined and explained in Section 5603 of the Pennsylvania Probate, Estates and Fiduciaries Code, 20 Pa. C.S. § 5603, to include, without limitation, all amplification of such powers as specified therein: 1. To make gifts for and on behalf of myself to any donees (including my agent) and in such amounts as my agent may decide. [General gift power.] In addition to the gifts authorized above, a gift made pursuant to such power maybe for the tuition or medical care of any permissible donee to the extent that the gift is excluded from the federal gift tax as a qualified transfer. My agent may consent, pursuant to the Internal Revenue Code, to the splitting of gifts made by my spouse to my issue or a spouse of my issue in any amount and to the splitting of gifts made by my spouse to any other person in amounts not exceeding the aggregate annual gift tax exclusion for both myself and my spouse under the Internal Revenue Code. 2. To create a trust for my benefit. 3. To make additions to an existing trust for my benefit. 4. To claim an elective share of the estate of my deceased spouse. 5. To disclaim any interest in property. 6. To renounce fiduciary positions. 7. To withdraw and receive the income or corpus of a trust. -2- 8. To authorize my admission to a medical, nursing, residential or similar facility and to enter into agreements for my care. 9. To authorize medical and surgical procedures. 10. To engage in real property transactions. 11. To engage in tangible personal property transactions. 12. To engage in stock, bond and other securities transactions. 13. To engage in commodity and option transactions. 14. To engage in banking and financial transactions. 15. To borrow money. 16. To enter safe deposit boxes. 17. To engage in insurance transactions. 18. To engage in retirement plan transactions. 19. To handle interests in estates and trusts. 20. To pursue claims and litigation. 21. To receive government benefits. 22. To pursue tax matters. 23. To make an anatomical gift of all or part of my body. 24. To do all other things which my agent shall deem necessary and proper in order to carry out the foregoing powers which shall be construed as broadly as possible. Reliance on Power This power maybe accepted and relied upon by anyone to whom it is presented until such person either receives written notice of revocation by me or a guardian or similar fiduciary of my estate or has actual knowledge of my death. Hold Harmless All actions of my agent shall bind me and my heirs, distributees, legal representatives, successors and assigns, and for the purpose of inducing anyone to act in accordance with the powers I have granted herein, I hereby represent, warrant and agree that if this power of attorney is -3- terminated or amended for any reason, I and my heirs, distributees, legal representatives, successors and assigns will hold such party or parties harmless from any loss suffered or liability incurred by such party or parties while acting in accordance with this power prior to that party's receipt of written notice of any such termination or amendment. Pennsylvania Law Governs Questions pertaining to the validity, construction and powers created under this instrument shall be determined in accordance with the laws of the Commonwealth of Pennsylvania. Signed this ~ day of , 2003. WITNESS: ~/~ /~ Marie A. Clifford COMMONWEALTH OF PENNSYLVANIA Social Security No.:~o 03 5-~ .~-~ COUNTY OF CUMBERLAND SS. On this, the / 7 `~`'' day of 2003, before, me, the undersigned officer, personally appeared Marie tY. Cli ord, Principal, the person whose name is subscribed to the within instrument, and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. (SEAL) No ary Public NOTARIAL SEAL CORRINE L. MYERS, NOTARY PUBLIC CARLISLE BORO, COUNTY OF CUMBERLAND MY COMMISSION EXPIRES MAY 27, 2007 -4- ACKNOWLEDGMENT BY AGENT I, JANE E. CLIFFORD, HAVE READ THE ATTACHED POWER OF ATTORNEY AND AM THE PERSON IDENTIFIED AS THE AGENT FOR THE PRINCIPAL. I HEREBY ACKNOWLEDGE THAT IN THE ABSENCE OF A SPECIFIC PROVISION TO THE CONTRARY IN THE POWER OF ATTORNEY OR IN THE PENNSYLVANIA PROBATE, ESTATES AND FIDUCIARIES CODE, 20 PA. C.S. l O1,ET. SEQ., WHEN I ACT AS AGENT: 1. I SHALL EXERCISE THE POWERS FOR THE BENEFIT OF THE PRINCIPAL. 2. I SHALL KEEP THE ASSETS OF THE PRINCIPAL SEPARATE FROM MY ASSETS. 3. I SHALL EXERCISE REASONABLE CAUTION AND PRUDENCE. 4. I SHALL KEEP A FULL AND ACCURATE RECORD OF ALL ACTIONS, RECEIPTS AND DISBURSEMENTS ON BEHALF OF THE PRINCIPAL. Date: ~~ ~ / ^~.~~ J E. Cliffor , t COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND SS On this, the ~ day of , 2003, before, me, the undersigned officer, personally appeared Jane ~ Cli ord, Agent, the person whose name is subscribed to the within instrument, and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. (SEAL) No ary Public NOTARIAL CORRINE L. MYERS, NOTARY PUBLIC CARLISLE BORO, COUNTY OF CUMBERLAND MY COMMISSION EXPIRES MAY 27, 2007 -6- Estate Valuation Date of Death: 12/10/2007 Estate of: Will iam E Clifford Valuation Date: 12/10/2007 Ac count: 10590.2 Processing Date: 09/04/2008 Report Type: Date of Death Number of Securities: 20 File I D: 10590.2.M&T Shares Security Mean and/or Div and Int Security or Par Description High/Ask Low/Bid Adjustments Accruals Value 1) 25000 GNMA PASS-THRU X SINGLE FAMILY (36218EKB6) OTC Mat: 10/15/2017 10.000 Fact: 0.01067239 12/10/2007 115.08297 A/B 115.082974 307.05 Int: 12/01/2007 to 12/10/2007 0,67 Int: 11/2007, payable 12/15/2007 2,24 Prin: 11/2007, payable 12/15/2007 1.53 2) 25000 GNMA PASS-THRU X SINGLE FAMILY (36220XK87) OTC Mat: 07/15/2020 9.5008 Fact: 0.00123031 12/10/2007 109.60515 A/B 109.605150 33.71 Int: 12/01/2007 to 12/10/2007 0,07 Int: 11/2007, payable 12/15/2007 0.25 Prin: 11/2007, payable 12/15/2007 0.34 3) 94 ALCATEL-LUCENT (013904305) SPONSORED ADR NYSE 12/10/2007 8.20000 8.09000 H/L 8.145000 765.63 41 168 DPL INC (233293109) NYSE 12/10/2007 31.00000 30.65000 H/L 30.825000 5,178.60 5) 200 EXELON CORP (30161N101) NYSE 12/10/2007 86.36000 85.01000 H/L 85.685000 17,137.00 6) 5500 FEDERAL NATL MTG ASSN (313586109) NYSE 12/10/2007 38.28000 36.07000 H/L 37.175000 204,462.50 7) 50 FIRSTENERGY CORP (337932107) NYSE 12/10/2007 74.27000 73.36000 H/L 73.815000 3,690.75 8) 4800 GENERAL ELECTRIC CO (369604103) NYSE 12/10/2007 37.49000 37.05000 H/L 37.270000 178,896.00 9) 200 GLAXOSMITHKLINE PLC (37733W105) NYSE 12/10/2007 53.57000 52.95000 H/L 53.260000 10,652.00 Div: 0.53258 Ex: 10/31/2007 Rec: 11/02/2007 Pay: 01/10/2008 106.52 10) 501 OCCIDENTAL PETE CORP DEL (674599105) NYSE 12/10/2007 73.08000 71.58000 H/L 72.330000 36,237.33 Div: 0.25 Ex: 12/06/2007 Rec: 12/10/2007 Pay: 01/ 15/2008 125.25 11) 2500 PPL CORP (693517106) NYSE 12/10/2007 59.29000 53.84000 H/L 54.065000 135,162.50 Div: 0.305 Ex: 12/06/2007 Rec: 12/10/2007 Pay: 01 /01/2008 762.50 Page 1 This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300. (Revision 6.4.1) Date of Death: 12/10/2007 Estate of: William E Clifford Valuation Date: 12/10/2007 Account: 10590.2 Processin Date: 09/04/2008 g Report Type: Date of Death Number of Securities: 20 File ID: 10590.2.M&T Shares Security Mean and/or Div and Int Security or Par Description High/Ask Low/Bid Adjustments Accruals Value 12) 73 PEPCO HOLDINGS INC (713291102) NYSE 12/10/2007 29.31000 28.97000 H/L 29.140000 2,127.22 Div: 0.26 Ex: 12/06/2007 Rec: 12/10/2007 Pay: 12/31/2007 18.98 13) 15 PIPER JAFFRAY COS (724078100) NYSE 12/10/2007 49.34000 47.23000 H/L 48.285000 724.27 14) 7200 RAYTHEON CO (755111507) COM NEW NYSE 12/10/2007 65.40000 64.61000 H/L 65.005000 468,036.00 15) 600 SOUTHERN CO (842587107) NYSE 12/10/2007 39.35000 38.86000 H/L 39.105000 23,463.00 16) 4000 SUNTRUST BKS INC (867914103) NYSE 12/10/2007 71.55000 69.79000 H/L 70.670000 282,680.00 Div: 0.73 Ex: 11/28/2007 Rec: 11/30/2007 Pay: 12/14/2007 2,920.00 17) 2400 US BANCORP DEL (902973304) COM NEW NYSE 12/10/2007 33.87000 33.02000 H/L 33.445000 80,268.00 181 649 WACHOVIA CORP NEW (929903102) NYSE 12/10/2007 45.14000 43.08000 H/L 44.110000 28,627.39 Div: 0.64 Ex: 11/28/2007 Rec: 11/30/2007 Pay: 12/17/2007 415.36 19) 10000 WELLS FARGO & CO NEW (949746101) NYSE 12/10/2007 32.90000 31.76000 H/L 32.330000 323,300.00 20) 250 PITTSBURGH & W VA RR (729819107) ASE 12/07/2007 9.24000 9.21000 H/L 12/11/2007 9.11000 9.11000 H/L 9.167500 2,291.88 Div: 0.13 Ex: 12/05/2007 Rec: 12/07/2007 Pay: 12/28/2007 32.50 Total Value: $1,804,042.70 Total Accrual: $4,384.34 Total: $1,808,427.04 Page 2 This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300. (Revision 6.4.1) Estate Valuation Date of Death: 12/10/2007 Estate of: William E. Clifford Valuation Date: 12/10/2007 Account: Mellon Processing Date: 09/04/2008 Report Type: Date of Death Number of Securities: 5 File ID: 10590.2.mellon Shares Security Mean and/or Div and Int Security or Par Description High/Ask Low/Bid Adjustments Accruals Value 11 249 ALCATEL-LUCENT (013904305; ALU) SPONSORED ADR NYSE 12/10/2007 8.20000 8.09000 H/L 8.145000 2,028.10 2) 100 TERADATA CORP DEL (88076W103; TDC) COM NYSE 12/10/2007 26.86000 26.44000 H/L 26.650000 2,665.00 3) 1850 JPMORGAN & CHASE & CO (46625H100; JPM) COM NYSE 12/10/2007 47.87000 46.55000 H/L 47.210000 87,338.50 4) 100 NCR CORP NEW (62886E108; NCR) COM NYSE 12/10/2007 25.33000 24.31000 H/L 24.820000 2,482.00 5) 1465 VODAFONE GROUP PLC NEW (92857W209; VOD) SPONS ADR NEW NYSE 12/10/2007 37.70000 37.33000 H/L Div: 0.48761 Ex: 11/20/2007 Rec: 11/23/2007 Pay: 02/01/2008 37.515000 54,959.47 714.35 Total Value: Total Accrual: $149,473.07 Total: $150,187.42 $714.35 Page 1 This report was produced with EstateVal, a product of Estate Valuations & Pricinq Systems, Inc. If you have questions, please contact EVP Systema at (818) 313-6300. (Revision 6.4.1) Estate Valuation Date of Death: 12/10/2007 Valuation Date: 12/10/2007 Es tate of: William E. Clifford Processing Date: 09/04/2008 Account: 10590.2 Report Type: Date of Death Number of Securities: 15 File ID: 10590.2.stifel Shares Security or Par Description High/Ask Low/Bid Mean and/or Adjustments Div and Int Security A l ccrua s Value 1) 71 SPDR GOLD TRUST (863307109; GLD) GOLD SHS Pacific 12/10/2007 80.30000 79.13000 H/L 79.715000 5,659.77 2) 137 ISHARES INC (469286400; EWZ) MSCI BRAZIL Pacific 12/10/2007 85.96000 84.59000 H/L 85.275000 11,682.68 3) 93 ISHARES INC (464286772; EWY) MSCI S KOREA Pacific 12/10/2007 67.94000 67.29000 H/L 67.615000 6,288.19 4) 184 ISHARES INC (92923H608; EWG) MSCI GERMAN Pacific 12/10/2007 36.58000 36.31000 H/L 36.445000 6,705.88 5) 51 ISHARES TR (464287176; TIP) US TIPS BD FD Pacific 12/10/2007 104.50000 103.99000 H/L 104.245000 5,316.49 6) 159 ISHARES TR (464287242; LQD) IBOXX INV CPBD Pacific 12/10/2007 104.56000 103.92000 H/L 104.240000 16,574.16 7) 304 ISHARES TR (464287408; IVE) S&P 500 VALUE Pacific 12/10/2007 80.50160 79.61000 H/L 80.055800 24,336.96 8) 47 ISHARES TR (464287432; TLT) 20+ YR TRS BD Pacific 12/10/2007 91.69000 90.75000 H/L 91.220000 4,287.34 9) 62 ISHARES TR (464287440; IEF) 7-10 YR TRS BD Pacific 12/10/2007 86.47000 85.93000 H/L 86.200000 5,344.40 10) 128 ISHARES TR (464287457; SHY) 1-3 YR TRS BD Pacific 12/10/2007 82.21000 82.07000 H/L 82.140000 10,513.92 11) 148 ISHARES TR (464287705; IJJ) S6P MIDCP VALU Pacific 12/10/2007 83.73000 82.77720 H/L 83.253600 12,321.53 12) 30 ISHARES TR (HYG) HIGH YLD CORP ASE 12/10/2007 101.64000 100.73000 H/L 1 01.185000 3,035.55 Paqe 1 This report was produced with EstateVal, a product of l Estate Valuations & Pricing Systems, Inc. If you have questions p ease contact EVP Systems at (818) 313- 6300. (Revision 6.4.1) , Date of Death: 12/10/2007 Valuation Date: 12/10/2007 Es tate of: William E. Clifford Processing Date: 09/04/2008 Account: 10590.2 Report Type: Date of Death Number of Securities: 15 Shares Security File ID: 10590.2.stifel or Par Description Nigh/Ask Low/Bid Mean and/or Div and Int Security Adjustments Accruals Value 13) 283 ISHARES TR (464288885; EFG) -~- MSCI GRW IDX Pacific 12/10/2007 82.09000 81.10000 H/L 14 ) 2 91 O~~) 11~ '~ MID ~~ ~1H 81.595000 23,091.38 C 66.35 65.92 NxsE o1/z7/zoo6 66.135 19,245.28 Last price available on 01/27/2006 15) 873 VANGUARD INDEX FDS IWG) GROWTH ETF ASE 12/10/2007 66.46000 65.95000 H/L 66.205000 57,796.96 Total Value: Total Accrual: 212,200.99 Total: $212,200.99 so.oo Page 2 ':his report •aas produced with EstateVal, a product of Estate Valuations k Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 31~-63 G0. (Revision 6.4.1)