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Home My WebLink About10-10-08 IN RE: ESTATE OF WILLIAM DEAN MATTER, Deceased IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION ,~., -; _r`~ s-, _ ~:. N0.2007-00710 ~= ._: ---~ _ ,~ ESTATE SETTLEMENT AND .~W - RECEIPT AND RELEASE AGREEMENT - ~~ _ .. cn C.I3 THIS SETTLEMENT AGREEMENT (the "Agreement") made this ~ day of September, 2008, by and between, Jane W. Kohn, Executor (the "Executor") of the Estate of William Dean Matter (the "Estate"), and Colonial Park United Methodist Church, as sole beneficiary of the Estate (the "Beneficiary"). The Executor and Beneficiary are sometimes referred to in this Agreement as the "Parties". In accordance with their desire that administration of the Estate be terminated without further expense and delay, the Parties, in consideration of the mutual covenants herein expressed, and intending to be legally bound hereby agree that: 1. The Estate of William Dean Matter, who died April 10, 2007, is now in the process of administration. Letters Testamentary were duly granted to the Executor by the Register of Wills of Cumberland County, Pennsylvania on July 27, 2007. 2. The Parties acknowledge that the Executor has received the Assets of the Estate (the "Assets") and paid all claims against the Estate set forth in the Accounting of the Executor, a copy of which is attached hereto and made a part hereof as Exhibit A. The Attorney General for the 1 ~~ Commonwealth of Pennsylvania has performed a parens patriae review of the Accounting and has no objections. A copy of the letter dated September 5, 2008 from the Office of the Attorney General is attached hereto and made a part hereof as Exhibit B. The Parties approve the said Accounting in its entirety. 3. The decedent's Will provides for the entire residuary assets of the Estate to be distributed to the Beneficiary. 4. The Beneficiary hereto agrees that the remaining Assets have or shall be distributed according to the Will, as set forth in the Schedule of Distribution of the attached Account. Without intending to limit the rights or remedies of the Beneficiary, the Beneficiary agree to indemnify the Executor save her harmless from and against all liability, loss, and expense (including, but not limited to, costs and counsel fees) which the Executor may incur, as a result of making the above described distributions according to the terms of the Will. 5. The Beneficiary hereto agrees to refund to the said Estate a pro rata share of any amount up to the amount of its respective distribution which may be necessary in the future to discharge any and all liabilities of the Estate heretofore undisclosed or unasserted that may arise and come to the attention of the Executor. 6. The Beneficiary hereby forever fully releases, compromises, settles and discharges any and all claims, demands, actions or causes of action, legal or equitable, absolute or contingent, vested or hereafter to accrue, which it may have against the Executor or against the Estate by reason of any matter, cause or thing growing out of or relating to any Assets, or growing out of or relating to any act of the Executor in the administration of the Estate, and agrees that any period for the limitation of actions for the collection of any erroneous distribution or distributions shall commence 2 only at such time as the Executor shall have obtained actual knowledge of such erroneous distribution or distributions and that in no event shall the period for collection of any erroneous distribution or distributions be less than two (2) years after the actual discovery thereof by the Executor. 7. The Beneficiary confirms that on or about this day it has received the distribution of the Residuary Assets in accordance with the terms and conditions of this Agreement. 8. Any release which applies to the Executor shall apply also to any fiduciary who may have been or may be appointed in connection with any ancillary administration. 9. This Agreement may be executed in multiple counterparts and, when so executed, shall be binding upon the Parties, and their respective heirs, next of kin, personal representatives and assigns. 10. The officer executing this Agreement on behalf of the Beneficiary is authorized to do so. INTENDING TO BE LEGALLY BOUND, the Parties have hereunto set their hands and seals the day and year first above written. ,- Jane .Kohn, Executo of the Estate of William Dean Matter Attestation: ~~ (Assistant) Secretary COLOI~L P UNITED METHODIST t7~.( 3 SUMMARY OF ACCOUNT Estate of William Dean Matter, Deceased For the period of April 10. 2007 through Auaust 28 2008 PAGES PRINCIPAL Receipts: This Account 3 32,679.06 Net Gain (or Loss) on Sales or Other Dispositions 4 0.00 32,679.06 Less Disbursements: Debts of Decedent 5 27,443.08 Funeral Expenses 5 67.53 Administration Expenses 5 428.56 Federal, State ~ Local Taxes 0.00 Commissions 0.00 Fees 6 2,237.50 Family Exemption 0.00 30,176.67 Balance Before Distributions 2,502.39 Transfer to (from) Principal 0.00 Distributions to Beneficiaries .0.00 Principal Balance on Hand - 2,502.39 For Information: Investments Made Changes in Holdings - INCOME Receipts This Account 0.00 Net Gain (or Loss) on Sales 0.00 or Other Dispositions 0.00 Less Disbursements 0.00 Balance Before Distributions 0.00 Transfer to (from) Income 0.00 Distributions to Beneficiaries 0.00 Income Balance on Hand 0.00 For Information: Investments Made Changes in Holdings COMBINED BALANCE ON HAND 2,502.39 Signature 7 E IBIT Verification g -2- SCHEDULE A RECEIPTS OF PRINCIPAL Assets Listed in Inventory (Valued as of Date of Death) Cash CNA -reimbursement for insurance premium IRS - 2006 income tax refund M & T Bank checking account # 58277668 - valued per letter dated August 23, 2007 Patriot News -reimbursement for subscription The Church of God Home, Inc. -security deposit Total Cash Personal Property Fiduciary Acquisition Value 5,200.50 212.00 22,149.42 100.00 4,929.00 32,590.92 Personal property -valued per sale price 88.14 Total Personal Property Total Receipts Total Receipts of Principal 88.14 32,679.06 32,679.06 -3- SCHEDULE B GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS -PRINCIPAL Gain Loss 11/29/2007 Personal property Net Proceeds 88.14 Fiduciary Acquisition Value -88.14 0.00 TOTAL GAINS AND LOSSES/PRINCIPAL LESS LOSS NET GAIN OR LOSS 0.00 0.00 -4- SCHEDULE C DISBURSEMENTS OF PRINCIPAL Debts of Decedent The Church of God Home. Inc. 04/11 /2007 04/20/2007 04/30/2007 06/11 /2007 08/09/2007 check written before death & cashed in after death check written before death ~ cashed in after death unreimbursed nursing home bill unreimbursed nursing home bill unreimbursed nursing home bill 12,000.00 8,000.00 4,929.00 212.00 2,302.08 Total Debts of Decedent Funeral Expenses Jesse H. Geisale Funeral Home. Inc. 04/10/2007 funeral services 67.53 27,443.08 27,443.08 Total Funeral Expenses Administration Expenses Cumberland Law Journal 01/14/2008 estate notice advertisement fee 75.00 67.53 67.53 75.00 -5- SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued Resister of Wills. Cumberland Count 07/27/2007 probate fee 81.00 01/14/2008 filing fee for Return 8~ Inventory 30.00 01/14/2008 additional probate fee 60.00 171.00 The Sentinel 01/14/2008 estate notice advertisement fee 182.56 182.56 Total Miscellaneous Administrative Expenses 428.56 Fees James, Smith, Dietterick & Connelly. LLP 01/14/2008 attorney fees for estate administration 2,237.50 Total Fees TOTAL DISBURSEMENTS OF PRINCIPAL 2,237.50 2,237.50 30,176.67 -6- Estate of William Dean Matter SCHEDULE OF PROPOSED DISTRIBUTION Balance Estate Checking Account IRS stimulus check Less: 2007 1040 Less: James, Smith, Dietterick & Connelly, LLP - attorney fees for administration Balance Cross Point United Methodist Church - 100% of the residue 2,502.39 300.00 -523.00 -762.50 1,516.89 1,516.89 •. a. COMMONWEALTH OF PENNSYLVANIA OFFICE OF ATTORNEY GENERAL TOM CORBETT ATTORNEY GENERAL September 5, 2008 Charitable Trusts and Organizations Section 14th Flr., Strawberry Sq. Harrisburg, PA 17120 Phone: (717) 783-2853 Facsimile: (717) 787-1190 Edward P. Seeber, Esquire JAMES SMITH DIETTERICK & CONNELLY LLP Suite 204 5020 Ritter Road Mechanicsburg, PA 17055 Re: Estate of William Dean Matter/ No. 21-07-0710 Dear Mr. Seeber: This will acknowledge receipt of your notice under Supreme Court Orphans' Court Rule 5.5 regarding the above-captioned matter. I have reviewed the First and Final Accounting of Jane W. Kohn, as Executor for the Estate of William Dean Matter, Deceased and have no objection At your earliest convenience, kindly forward an executed copy of the receipt and release signed on behalf of the charity. Please be advised that the above review was made pursuant to the ap rens a~ trice fancticn of this office and has no beari^g on any mat#er ;,unrelated there±o. Se further advised that this no objection is based on the information submitted to the Office of Attorney General and therefore is conditioned upon its accuracy submissions or omissions. Very truly yours, ~~~_ John L. Downing Deputy Attorney General JLD/srh EXHIBIT ~l..J