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Home My WebLink About10-21-0815056041158 ~~~"~ SOU EX (06-05) OFFICIAL USE ONLY PA Department of Revenue Bureau of Individual Taxes County Code Year File Number Po eox 2soso~ INHERITANCE TAX RETURN 2 ~+ D 8 -~ Harrisburg, PA 1 7 1 28-06 0'1 RESIDENT DECEDENT G8G 1 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death Date of Birth 178-22-0163 083D20D8 D4151928 Decedent's Last Name SMITH Suffix Decedent's First Name FRANCIS MI s (If Applicable) Enter Surviving Spouse's Information Below Spouse's last Name Suffix Spouse's First Name Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE - - REGISTER OF WILLS FILL IN APPROPRIATE BOXES BELOW MI ^X 1. Original Return ^ 2. Supplements! Return ^ 3. Remainder Return (date of death prior to 12-13-82) ^ 4, Limited Estate ^ 4a. Future Interest Compromise (date of ^ 5. Federal Estate Tax Return Required death after 12-12-82) ^X 6. Decedent Died Testate ^ 7. Decedent Maintained a Living Trust ~. 8. Total Number of Safe Deposit Boxes ^ (Attach Copy of Wili) ^ 10 {Attach Copy of Trust) t f d th dit l P rt d C ^ 11 Election to tax under Sec 9113(A) 9. Litigation Proceeds Received . { ea re e o ove y a Spousa . . between 12-31-91 and 1-1-95) (Attach Sch. O) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFtDENT1Al TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number JOHN D• SHERIDAN, ESQ- 717-54D-~7~7D "J Firm Name (If Applicable) SERRATELLI, SCHIFFMAN, BROWN & CALHOON, P•C• First line of address Second line of address 2D8D LiNGLESTOWN ROAD, SUITE 2D1 City or Post Office State ZIP Code HARRISBURG PA 17110 Side 1 15 0 5 6 0 4115 8 6M4647 3.000 REGISTER r~ LLS USE Y -~-~ --i T"' fJ __ _., _.._ CO - " (~ DATE FILED ""1 15056041158 Correspondent's a-mail address: J S H E R I D A N a~ S S B C -LAW • C O M Under penalties of perjury, I declare that 1 have examined this return, including accompanying schedules and. statements, and to the best of my knowtedge and belief, it is true, correct and complete. Declaration of preparer other than the personal represehtative is based on all informallon of which preparer has any knowledge. Estate of FRANCIS B. SMITH Executors (Page 1) Name Nadine A. Craver Address 1781 N. Meadow Drive 178-22-0163 Mechanicsburg, PA 17055- Tax ID 204-46-3080 J 15056042159 REV-1500 EX Decedent's Social Security Number 178-22-0],63 oe~edenr5 Names M I T H F R A N T C g RE CAPITULATION 1. Real estate (Schedule A) 1, 0•DO 2. Stocks and Bonds (Schedule B) . 2. ~ 8 • D 0 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) . 3, O • O O 4. Mortgages & Notes Receivable (Schedule D). 4. D • D 0 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E). 5. ], 5 D • D 0 6. Jointly Owned Property (Schedule F) ~ Separate Billing Requested 6. 313 6 7 • D 0 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) ~ Separate Billing Requested 7. 2 9 5 417 • D 0 8. Total Gross Assets (total Lines 1-7). ............. .... 8. 3 2 6 9 7 2. 0 0 9. Funeral Expenses & Administrative Costs (Schedule H) . 9. 1181 4 • D 0 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I). 10. 2 O 4 D 1 • D 0 1 1. Total Deductions (total Lines 9 & 10) . 1 1. 3 2 215 • 0 D 12. Net Value of Estate (Line 8 minus Line 11) 12. 2 9 4 7 5 7 • D D 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) . 13. 0 • 0 D 14. Net Value Subject to Tax (Line 12 minus Line 13) 14. ~ 9 4 7 5 7 • 0 D TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1 2) X 0~ . . 0 , D 0 15. D.DD 16. Amount of Line 14 taxable at lineal ratex.o45 294757 •00 16. 13264 • 00 17. Amount of Line 14 taxable at sibling rate X .12 D• O D 17• D• D D 18. Amount of Line 14 taxable at collateral rate X .15 O D D 18 0.OD 19. TAX DUE 19. 13264 DO 20. FILL IN THE BOX IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT Side 2 15D56042159 6M46482.D00 15056042159 REV-1500 EX Page 3 Decedent's Complete Address File Number ~~ nn n~~~ DECEDENTS NAME SMITH FRANCIS g STREET ADDRESS 1 MEADOW DRIVE CU~1BERLAND CITY STATE ZIP MECHANICSBURG Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) 2. Credits/Payments A. Spousal Poverty Credit Q . Q Q B. Prior Payments L 2 6 01 • 0 0 C. Discount 6 6 3. 0 0 3. Interest/Penalty if applicable D. Interest 0 . Q 0 E. Penalty Q . Q Q (1> 13264 • 00 Total Credits (A + B + C) {2) ]i 3 2 [~ 4 . Q 0 Total InteresUPenalty (D + E) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in box on Page 2, Line 20 to request a refund. 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DuE A. Enter the interest on the tax due. (3) 0 • 0 0 (4) (5) 0 • 0 0 (5A) 0- B. Enter the total of Line 5 + 5A This is the BALANCE DUE. (5B) 0 • 0 0 Make Check Payable to: REGISTER OFWILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred; ^ X^ b. retain the right to designate who shall use the property transferred or its income; ^ c. retain a reversionary interest; or ^ d. receive the promise for life of either payments, benefits or care? ^ 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? . ^ 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? ^ 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ~ ^ IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is three (3) percent [72 P.S. X9116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent [72 P.S. §9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for use of a natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent (72 P.S. §9116(a)(1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in 72 P.S. §9116(1.2) [72 P.S. §9116(a)(1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. ~9116(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. sMas>> i o00 Attaclunent to Form 1500 Estate of Francis B. Smith Calculation of Taxable Estate The only probate assets of the Estate are a Series E Savings Bond ($38.00) and Household Personal property of $150.00. Expenses in this Estate exceed the probate estate ($32,215.00 - $188.00 = $32,207.00), leaving no residuary for payment of expenses. Since the beneficiaries, excluding the surviving spouse, have paid or have agreed to pay all costs and expenses, the taxable amount received from the Wachovia account by the three children has been reduced by $32,207.00. REV-1503 EX + (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER FFZANCIS B. SMITH 21 08 0712 All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION _ OF DEATH 1. 50 Par Series EE Savings Bond SCHEDULE Q STOCKS & BONDS 38 TOTAL (Also enter on line 2, Recapitulation) I $ 38 3wasss ~ o00 (If more space is needed, insert additional sheets of the same size) REV-1508 EX+ (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF FILE NUMBER FRANCIS B. SMITH 21 06 0712 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointlyowned with the right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1 Household Personal Property (The decedent was a resident in a nursing home prior to death and had limited personal property. An appraisal was not warranted.) 150 TOTAL Also enter on line 5, Reca itulation $ 150 3wa6AD 1.000 (If more space is needed, insert additional sheets of the same size) REV-1509 EX+(6-98) SCHEDULE F COMMONWEALTH OFPENNSYLVANtA JOINTLY-OWNED PROPERTY INHERITANCE TAX RETURN RESIDENT DECED(Nf ESTATE OF FILE NUMBER FRANCIS B. SMITH 21 08 0712 If an asset was made joint within one year of the decedent's date of death, it m ust be reported on Schedule G. SURVIVING JOINTTENANl(S) NAME ADDRESS RELATIONSHIP TO DECEDENT A Craver, Nadine A 1781 N. Meadown Drive, Mechanicsburg, PA 17055 Daughter JOINTLY-OWNED PROPERTY: ~~ NUMBER I-ErTER FOR JOIN TENANT DATE MADE JOINT DESCRIPTION OF F'ROPH~TY INCLUDE NAME OF FINANC W-INSTITUTION AND BANK ACCOUNT NUMBER OR SIMILAR IDENTIFYING NUMBER. ATTACH DEED FOR JOINTLY-HELD REAL ESTATE. DATE OF DEATH VALUEOFASSET oho OF DECD'S INTEREST DATE OF DEATH VALUE OF DECEDENTS INTEREST 1 A 6/5/2006 PNC Checking #50-0064-3826 5,011 50.0000 2,506 2 A 6/5/2006 PNC Money Market #50-0499-4869 57,721 50.0000 28,861 TOTAL (Also enter on line 6 Recaoitulation~ ~ $ 31, 3 6 7 (If more space is needed, insert additional sheets of the same size) 3W46AE 1.000 REV-7510 EX i (6-98) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE G INTER-VIVOS TRANSFERS & MISC. NON-PROBATE PROPERTY ESTATE OF FILE NUMBER FRANCIS B. SMITH 21 08 0712 This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes. ITEM NUMBE DESCRIPTION OF PROPERTY WO.LOETFEN4MEOFTFETRANSFEREE,THEIRRELATIONSMPTODECEDEMAnD R TI-EDATEOFTRAISFER.gTiAOigCOpyOFTHEDEEDFORREALESTATE. DATE OF DEATH VALUE OF ASSET %OFDECD~S INTEREST EXCLUSION IF APPLICABLE TAXABLE VALUE 1. Wachovia Securities Individual Retirement Account #7835-1654 Beneficiaries: I Ellen Nebre, Daughter Nadine Craver, Daughter Janice LeClainche, Daughter 295,417 100.0000 0 295,417 TOTAL (Also enter on line 7, Recapitulation) $ 295 417 (If more space is needed, insert additional sheets of the same size) 3W46AF 1.000 REV-1511 EX+ (10-06) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES & ADMINISTRATIVE COSTS ESTATE OF FILE NUMBER FRANCIS B. SMITH 21 08 0712 Debts of decedent must be reported on Schedule I. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: ~ Malpezzi Funeral Home 4,267 2 Gravemarker 2,500 Total from continuation schedules 399 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Name of Personal Representative(s) Street Address City State Zip _ Year(s) Commission Paid: 2. Attorney Fees 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) Claimant Street Address City State Zip Relationship of Claimant to Decedent 4. Probate Fees 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. 1 Cumberland Law Journal (Estate Advertisement) 2 The Sentinel (Estate Advertisement) Total from continuation schedules . 4,000 73 75 150 350 TOTAL {Also enter on line 9 Recapitulation) ~ $ 11 814 7VJ46AG 1.000 (If more space is needed, insert additional sheets of the same size) Estate of: FRANCIS B. SMITH Schedule H Part 1 (Page 2) Item No. Description 3 Funeral Luncheon/Dinner Total (Carry forward to main schedule) 21 08 0712 Amount 399 399 Estate of: FRANCIS B. SMITH 21 O8 0712 Schedule H Part 7 (Page 2) 3 Nadine Craver (Executrix Mileage Costs) 350 Total (Carry forward to main schedule) 350 REV-1512 EX + (12-03) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULEI DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS ESTATE OF FILE NUMBER FRANCIS B. SMITH 21 08 0712 Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses. ITEM NUMBER DESCRIPTION VALUE AT DATE OF DEATH 1' 1/2 of 2008 Federal Income Tax Liability 15 456 2 1/2 of 2008 Pa. Income Tax Liability 1,400 3 PPL Retirement Plan (Reimbursement of September Pension Check) 2,134 4 Social Security Administration (Return of September Social Security Payment) 1,411 3W46AH 2000 TOTAL (Also enter on line 10 Recapitulation) $ I 20 401 (If more space 1s needed, insert additional sheets of the same size) REV-1513 EX+(g-00) SCHEDULE J COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER FRANCIS B. SMITH 21 08 0712 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] 1 Ellen Frances Nebre 1138 147th Place, N.E. Bellevue, WA 98007 Wachovia Securities Individual Retirement Account #7835-1654 Beneficiaries: Ellen Nebre, Daughter Nadine Craver, Daughter Janice LeClainche, Daughter Inventory Value: 98,474 less costs = $87,796 Daughter 87,796 ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 T HROUGH 18, AS APPROPRIATE, O N REV-1500 COVER SHEEP II NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART 11 -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ 0 3W46AI 1.000 ~~~ iiwre space Is neeaea, Insert adtlmonal sheets of the same size) Estate of: FRANCIS B. SMITH Schedule J Part 1 (Page 2) 21 08 0712 Item No. Description Relation Amount 2 Janice L. LeClainche 8601 S.E. Somerset Island Way Jupiter, FL 33458 Wachovia Securities Individual Retirement Account #7835-1654 Beneficiaries: Ellen Nebre, Daughter Nadine Craver, Daughter Janice LeClainche, Daughter Inventory Value: 98,471 less costs = 87,796 Daughter 87,796 3 Nadine A. Craver 1781 N. Meadown Drive Mechanicsburg, PA 17055 PNC Checking #50-0064-3826 Inventory Value: $2,506 PNC Money Market #50-0499-4869 Inventory Value: $28,862 Wachovia Securities Individual Retirement Account #7835-1654 Beneficiaries: Ellen Nebre, Daughter Nadine Craver, Daughter Janice LeClainche, Daughter Inventory Value: 98,462 Less Costs = 87,797 Daughter 119,165 LAST WILL AND TESTAMENT KNOW ALL MEN BY THESE PRESENTS, that I, FRANCIS B. SMITH, currently residing in Mechanicsburg, Cumberland County, Commonwealth of Pennsylvania, being in good health and of sound and disposing memory do hereby make, declare and publish this as my Last Will and Testament, hereby revoking all former Wills and Codicils heretofore made by me. FIRST: I direct that all of my debts not barred by the statute of limitations, expenses of my last illness, funeral expenses, costs of administration and claims allowed in the administration of my estate shall be paid by my Executor hereinafter named, from my estate as soon after my decease as shall be found convenient. SECOND: I bequeath my automobiles, household and personal effects and other tangible personalty of like nature (not including cash or securities), together with any existing insurance thereon, to my wife, MARY LEE SMITH, if she survives me by thirty days. Should my wife not be living on the thirty-first day after my death, I bequeath such tangible personalty and insurance thereon to such of my children as are living on the thirty first day after my death, to be divided among them by my Executor with due regard for their personal preferences in as nearly equal shares as practical. Any such article allotted to a minor may, as my Executor thinks advisable, either be delivered to the minor or any person to hold for the minor, or be sold and the proceeds paid to the Trustee as hereinafter provided in ARTICLE FOURTH hereof. THIRD: If my wife, MARY LEE SMITH, survives me (and I direct that for the purpose of this Item THIRD she shall be deemed to have survived me unless it appears unmistakable that she predeceased me) and if the federal estate tax due because of my death will be reduced by making this gift for her benefit, I devise and bequeath to my wife, MARY LEE SMITH, L~`~N ,, absolutely, the least amount (based upon values as finally determined for federal estate tax purposes) as shall be needed for the federal estate tax unlimited marital deduction to reduce the federal estate tax to the lowest possible figure after full use of all other deductions and credits allowable in calculating the federal estate tax, except that such amount shall be calculated without regard to the augmenting of my taxable estate by reason of generation-skipping transfers and without regard for any credit for state death taxes that would not otherwise be payable. Accordingly, I direct that: A. If the marital deduction or any similar benefit is allowable with respect to any property, including property held by entireties, which my wife has received prior to my death or at my death will receive otherwise that pursuant to this ITEM T'IiIRD, the value of such properly shall be taken into consideration in calculating the size of the gift under this ITEM THIlZD. B. No property ineligible for the marital deduction or any similar benefit shall be distributed to this gift for my wife, MARY LEE SMITH, pursuant to this ITEM THIItD. C. Either cash or investments or both maybe allocated to the gift under this ITEM THIRD. D. Any property allocated under this ITEM THIIZD in kind shall be valued at the value at which it is finally included in my gross estate for federal estate tax purposes, provided that the aggregate market value thereof on the date of allocation (plus the value as finally determined for federal estate tax purposes of all other property qualifying for the marital deduction) is at least equal to the dollar value of the marital deduction as finally determined for federal estate tax purposes. _ .; E. If any provision of my Will shall result in depriving my estate of the marital deduction for federal estate tax purposes, such provision is hereby revoked and my Will shall be read as if any portion thereof inconsistent with allowance of the marital deduction for federal estate tax purposes is null and void. FOURTH: I devise and bequeath the residue of my estate of every nature and whatever situate, including property over which I shall have any power of appointment other than such power given to me in any will or inter vivos trust of my wife, to the Trustee hereinafter named, IN TRUST, for the following uses and purposes: A. To pay the net income therefrom to my wife, MARY LEE SMITH, for and during her lifetime. B. As much of the principal of this trust as Trustee in its sole discretion may from time to time think advisable for the support of my wife or for the support of my children or during illness or emergency, shall either be paid to her or them or else applied directly for her or their benefit by the Trustee after taking into account her or their other readily available assets and sources of income and support. C. Trustee may apply the net income of this trust for the support of my wife, MARY LEE SMITH, should she by reason of age, illness or any other cause in the opinion of the Trustee be incapable of disbursing it. D. Upon the death of my wife, MARY LEE SMITH, the then-remaining principal and any undistributed income shall be distributed as follows: _., ,, - , My residence at 1781 North Meadow Drive, Mechanicsburg, Cumberland County, Pennsylvania, together with any insurance policies on such real property, to my daughter, NADINE ANN GRAVER, if such residence is still owned by me at the time of my death. If my daughter, NADINE ANN GRAVER does not survive me, then my residence shall be sold and the proceeds shall be added to and distributed as part of the residue under Subparagraph D. 4 below. 2. The sum of One Hundred Thousand ($100,000.00) Dollars to my daughter, ELLEN F. SMITH NEBRE, if the distribution of my residence to my daughter, NADINE ANN GRAVER, under Subparagraph D. 1 is completed. 3. The sum of One Hundred Thousand ($100,000.00) Dollars to my daughter, JANICE L. LeCLAINCHE, if the distribution of my residence to my daughter, NADINE ANN GRAVER, under Subparagraph D. 1 is completed. 4. The remaining trust property shall be divided into as many shares as shall be necessary to create one equal share for each of my then living daughters, and one equal share for each of my deceased daughters who has then living descendants. The share of each of my daughters shall be distributed as follows: a. Distribution of the Trust Share for NADINE ANN GRAVER. The Trust Share for NADINE ANN GRAVER shall be distributed to her outright if she survives me. If my daughter, NADINE ANN GRAVER, does not survive me, her Trust Share shall be held IN TRUST for her son, PHILIP MISTRETTA N, and administered and distributed as follows: 1. Distributions of Net Income My Trustee, in its sole and absolute discretion, shall apply to, or for the benefit of PHILIP MISTRETTA, N as much of the net income from his trust share as my Trustee deems advisable for the health, education and maintenance of PHII.IP MISTRETTA, IV. Any net income not distributed shall be added to principal and held under the provisions that follow. 2. Distributions of Principal My Trustee, in its sole and absolute discretion, shall apply to, or for the benefit of, PHILIP MISTRETTA, IV as much of the principal from his trust share as my Trustee deems advisable for the health, education and maintenance of PHILIP MISTRETTA, IV. 3. Guidelines for Discretionary Distributions With regard to my Trustee's discretionary authority over the distribution of income or principal to PHILIP MISTRETTA, N, it is my desire that my Trustee be liberal in exercising such discretion. I also desire that my Trustee give assistance to PHILIP NIISTRETTA, N for: The purchase. of a residence. The purchase, establishment, or continuance of a business or professional practice. Any other extraordinary opportunity or expense deemed by my Trustee to be in the best interests of PHILIP MISTRETTA, IV. ~~ ;, _~ i ' -~ In making discretionary distributions to PHILIP MISTRETTA, N, my Trustee shall be mindful of, and take into consideration to the extent it deems necessary, any additional sources of income and principal available to PHILIP MISTRETTA, IV, which arise outside of this agreement and are known to my Trustee. It is my express desire that my Trustee take into consideration the future probable needs of PHII.Il' MISTRETTA, N prior to making any discretionary distributions hereunder. I would ask that my Trustee, before making distributions to PHILIl' MISTRETTA, N, remind him of the long-term income tax deferral advantage of retaining funds inside any retirement plan. Further, I would also ask that my Trustee, before making distributions to PHII.]P MISTRETTA, IV, remind him of any long- term advantages of retaining assets in his trust share. When exercising discretionary authority, my Trustee shall act in accordance with any written, signed and dated Letter of Instruction to my Trustee left by me leaving instructions for the care of my grandchild. Any Letter of Instruction to my Trustee shall be incorporated by reference into this agreement. If my state law does not allow the incorporation by reference of a letter of instruction to be a binding inclusion to this agreement, I request that my Trustee be morally bound to act in accordance with any provisions I might leave in a Letter of Instruction to my Trustee. Should I leave multiple letters of instruction which conflict as to the instructions, that letter which is last dated shall control as to those provisions which are in conflict. 4. Distribution on the Death of PHILIP MISTRETTA, N PHILIP MISTRETTA, N shall have the limited testamentary power to appoint to or for the benefit of his descendants the entire principal and any accrued and undistributed net income of his trust share as it exists at his death. PHILIP MISTRETTA, IV shall exercise this limited power of appointment by a valid last will and testament, a valid living trust agreement, or any other notarized written instrument signed by PHILIP MISTRETTA, IV. In exercising this limited power of appointment, PHILIP MISTRETTA, N shall specifically refer to this power. PHII.,IP MISTRETTA, IV shall have the sole and exclusive right to exercise this limited power of appointment. PHILIP MISTRETTA, IV may make distributions among his descendants in equal or unequal amounts, and on such terms and conditions, either outright or in trust, as he shall determine. To the extent this limited power of appointment is not exercised, my Trustee shall distribute the remaining trust property to the then living descendants of PHILIP MISTRETTA, N, per stirpes. If PHILIP MISTRETTA, IV has no then living descendants, my Trustee shall distribute the balance of the trust property to my then living descendants, per stirpes. This power shall not be exercised in favor of my grandson's estate, the creditors of my grandson's estate, or in any manner which would result in any economic benefit to my grandson. b. Distribution of the Trust Share for JAI~iICE L. LeCLAINCHE. The Trust Share for JAIVICE L. LeCLAINCHE shall be distributed to her outright if she survives me. If my daughter, JAIVICE L. LeCLAINCHE, does not survive me, her Trust Share shall be held IN SEPARATE TRUSTS for each of her children, and administered and distributed as follows: 1. Distributions of Net Income My Trustee, in its sole and absolute discretion, shall apply to, or for the benefit of each child of JANICE L. LeCLAINCHE as much of the net income from his or her trust share as my Trustee deems advisable for the health, education and maintenance of each child of JANICE L. LeCLAJ,NCHE. Any net income not distributed shall be added to principal and held under the provisions that follow. 2. Distributions of Principal My Trustee, in its sole and absolute discretion, shall apply to, or for the benefit of each child of JANICE L. LeCLAINCHE as much of the principal from his or her trust share as my Trustee deems advisable for the health, education and maintenance of each child of JANICE L. LeCLAINCHE. 3. Guidelines for Discretionary Distributions With regard to my Trustee's discretionary authority over the distribution of income or principal to the children of JANICE L. LeCLAINCHE, it is my desire that my Trustee be liberal in exercising such discretion. I also desire that my Trustee give assistance to the children of JANICE L. LeCLAINCHE for: The purchase of a residence. The purchase, establishment, or continuance of a business or professional practice. Any other extraordinary opportunity or expense deemed by my Trustee to be in the best interests of the children of JANICE L. LeCLAINCHE. ., In making discretionary distributions to the children of JAlvICE L. LeCLAINCHE, my Trustee shall be mindful of, and take into consideration to the extent it deems necessary, any additional sources of income and principal available to the children of JANICE L. LeCLAINCHE, which arise outside of this agreement and are known to my Trustee. It is my express desire that my Trustee take into consideration the future probable needs of the children of JANICE L. LeCLAINCHE prior to making any discretionary distributions hereunder. I would ask that my Trustee, before making distributions to the children of JANICE L. LeCLAINCHE, remind them of the long- term income tax deferral advantage of retaining funds inside any retirement plan. Further, I would also ask that my Trustee, before making distributions to the children of JAlVICE L. LeCLAINCHE, remind them of any long-term advantages of retaining assets in their trust share. When exercising discretionary authority, my Trustee shall act in accordance with any written, signed and dated Letter of Instruction to my Trustee left by me leaving instructions for the care of my grandchildren. Any Letter of Instruction to my Trustee shall be incorporated by reference into this agreement. If my state law does not allow the incorporation by reference of a letter of instruction to be a binding inclusion to this agreement, I request that my Trustee be morally bound to act in accordance with any provisions I might leave in a Letter of Instruction to my Trustee. Should I leave multiple letters of instruction which conflict as to the instructions, that letter which is last dated shall control as to those provisions which are in conflict. 4. Termination of Trust. When a child of JAIVICE L. LeCLAINCHE attains the age of twenty-five (25) years, my Trustee shall distribute the entire balance of his or her trust to said child, and such trust shall terminate. 5. Distribution on the Death of a child of JANICE L. LeCLAINCHE. Each child of JAI~TICE L. LeCLAINCHE shall have the limited testamentary power to appoint to or for the benefit of his or her descendants the entire principal and any accrued and undistributed net income of his or her trust share. as it exists at his or her death. Each child of JANiCE L. LeCLAINCHE shall exercise this limited power of appointment by a valid last will and testament, a valid living trust agreement, or any other notarized written instrument signed by such child of JANICE L. LeCLAINCHE. In exercising this limited power of appointment, each child of JANICE L. LeCLAINCHE shall specifically refer to this power. Each child of JANICE L. LeCLAINCHE shall have the sole and exclusive right to exercise this limited power of appointment. Each child of JAIVICE L. LeCLAINCHE may make distributions among his or her descendants in equal or unequal amounts, and on such terms and conditions, either outright or in trust, as he or she shall determine. To the extent this limited power of appointment is not exercised, my Trustee shall distribute the remaining trust property to the then living descendants of such child of JArTICE L. LeCLAINCHE, per stirpes. If a child of JAlvICE L. LeCLAINCHE has no then living descendants, my Trustee shall distribute the balance of his or her trust property to my then living descendants, per stirpes. This power shall not be exercised in favor of my grandchildren's estates, the creditors of my grandchildren's estate, or in any manner which would result in any economic benefit to my grandchildren. r - .. _. ~....._. ~_~. 10 c. Distribution of the Trust Share for ELLEN F. SMITH NEBRE. The Trust Share for ELLEN F. SMITH NEBRE shall be distributed to her outright if she survives me. If my daughter, ELLEN F. SMITH NEBRE, does not survive me, her Trust Share shall be held IN TRUST for her children, and administered and distributed as follows: 1. Distributions of Net Income My Trustee, in its sole and absolute discretion, shall apply to, or for the benefit of each child of ELLEN F. SMITH NEBRE as much of the net income from his or her trust share as my Trustee deems advisable for the health, education and maintenance of each child of ELLEN F. SMITH NEBRE. Any net income not distributed shall be added to principal and held under the provisions that follow. 2. Distributions of Principal My Trustee, in its sole and absolute discretion, shall apply to, or for the benefit of each child of ELLEN F. SMITH NEBRE as much of the principal from his or her trust share as my Trustee deems advisable for the health, education and maintenance of each child of ELLEN F. SMITH NEBRE. 3. Guidelines for Discretionary Distributions With regard to my Trustee's discretionary authority over the distribution of income or principal to the children of ELLEN F. SMITH NEBRE, it is my desire that my Trustee be liberal in exercising such discretion. I also desire that my Trustee give assistance to the children of ELLEN F. SMITH NEBRE for: The purchase of a residence. The purchase, establishment, or continuance of a business or professional practice. Any other extraordinary opportunity or expense deemed by my Trustee to be in the best interests of the children of ELLEN F. SMITH NEBRE. In making discretionary distributions to the children of ELLEN F. SMITH NEBRE, my Trustee shall be mindful of, and take into consideration to the extent it deems necessary, any additional sources of income and principal available to the children of ELLEN F. SMITH NEBRE, which arise outside of this agreement and are known to my Trustee. It is my express desire that my Trustee take into consideration the future probable needs of the children of ELLEN F. SM~TH NEBRE prior to making any discretionary distributions hereunder. I would ask that my Trustee, before making distributions to the children of ELLEN F. SMITH NEBRE, remind him of the long- term income tax deferral advantage of retaining funds inside any retirement plan. Further, I would also ask that my Trustee; before making distributions to the children of ELLEN F. SMITH NEBRE, remind them of any long-term advantages of retaining assets in his trust share. When exercising discretionary authority, my Trustee shall act in accordance with any written, signed and dated Letter of Instruction to my Trustee left by me leaving instructions for the care of my grandchildren. Any Letter of Instruction to my Trustee shall be incorporated by reference into this agreement. ~ ~ If my state law does not allow the incorporation by reference of a letter of instruction to be a binding inclusion to this agreement, I request that my Trustee be morally bound to act in accordance with any provisions I might leave in a Letter of Instruction to my Trustee. Should I leave multiple letters of instruction which conflict as to the instructions, that letter which is last dated shall control as to those provisions which are in conflict. 4. Termination of Trust. When a child of ELLEN F. SMITH NEBRE attains the age of twenty-five (25) years, my Trustee shall distribute the entire balance of his or her trust to said child, and such trust shall terminate 5. Distribution on the Death of a child of ELLEN F. SMITH NFRRF Each child of ELLEN F. SMITH NEBRE shall have the limited testamentary power to appoint to or for the benefit of his or her descendants the entire principal and any accrued and undistributed net income of his or her trust share as it exists at his or her death. Each child of ELLEN F. SMITH NEBRE shall exercise this limited power of appointment by a valid last will and testament, a valid living trust agreement, or any other notarized written instrument signed by such child of ELLEN F. SMITH NEBRE. In exercising this limited power of appointment, each child of ELLEN F. SMITH NEBRE shall specifically refer to this power. Each child of ELLEN F. SMI I'H NEBRE shall have the sole and exclusive right to exercise this limited power of appointment. Each child of ELLEN F. SMITH NEBRE may make distributions among his or her descendants in equal or unequal amounts, and on such terms and conditions, either outright or in trust, as he or she shall determine. To the extent this limited power of appointment is not exercised, my Trustee shall distribute the remaining trust property to the then living descendants of such child of ELLEN F. SMITH NEBRE, per stirpes. ~_- ;~-* tL~,ti. ~~; r j 4 . "-~'i-rim-Ui, 13 If a child of ELLEN F. SMITH NEBRE has no then living descendants, my Trustee shall distribute the balance of his or her trust property to my then living descendants, per stirpes. This power shall not be exercised in favor of my grandchildren's estate, the creditors of my grandchildren's estate, or in any manner which would result in any economic benefit to my grandchildren. FIFTH: All federal, state and other death taxes payable because of my death, with respect to the property fomvng my gross estate for tax purposes, whether or not passing under this will, including any interest or penalty imposed in connection with such tax, shall be considered a part of the expense of the administration of my estate and shall be paid from my residuary estate under ITEM FOURTH without apportionment of right of reimbursement. All such taxes on present or future interest shall be paid at such time or times as my executor or my Trustee may think proper, • regardless of whether such taxes are then due. SIXTH: The interests of the beneficiaries hereunder shall not be subject to anticipation or to voluntary or involuntary alienation. SEVENTH: I hereby nominate, constitute, and appoint my wife, MARY LEE SMITH, as Executor of this, my Last Will and Testament. In the event that my wife, MARY LEE SMITH shall predecease me, or be unwilling or unable to act as my Executor, as aforesaid, then I nominate, constitute and appoint my daughter, JANICE L. LeCLAINCHE, without the necessity for posting security regardless of state of residence as Executor of this, my Last Will and Testament. All references to the Executor herein shall be applicable to said substitute Executor. EIGHTH: I hereby nominate, constitute and appoint my daughter, ELLEN F. SMITH NEBRE, as Trustee of the trusts created by this, my Last Will and Testament without the necessity for posting security regardless of state of residence. In the event that my daughter, ELLEN F. SMITH NEBRE, is unable or unwilling to act as Trustee, then I nominate, constitute and appoint my daughter, JANICE L. LeCLAINCHE as Trustee. r- _ r--' '~ NINTH: My Executor and Trustee shall have, in addition to the powers and authority conferred upon them by law, the following additional powers and authority: To sell at public or private sale, exchange, transfer, partition, give options upon, lease, mortgage, pledge or otherwise dispose of any property, real or personal, at any time constituting a portion of my estate, and upon such terms and conditions as the Executor and Trustee shall deem wise. 2. To invest any money at any time in such bonds, stocks, notes, real estate, mortgages, life insurance, annuities or other securities, or such property, real or personal, as the Executor or Trustee shall deem wise, without being limited by any statutes or rule of law regarding investments by the Executor or Trustee. 3. To retain, without incurring any liability, as investments, any property awned by me at the time of my death, as long as my Executor or Trustee may deem it wise, and even though such property is not the kind of property an Executor or Trustee would purchase as an investment; and even though to retain such property might violate sound diversification principles. 4. To cause any security or.other property which may constitute a portion of my estate to be issued, held or registered in their own name, or in the name of a nominee, or in such form that title will pass by delivery. 5. To consent to the reorganization, consolidation, readjustment of the fmancial structure, or sale of the assets of any corporation or other organization, the securities of which constitute a portion of my estate, and to take any action with reference to such securities which, in the opinion of the Executor or Trustee is necessary to obtain the benefit of any such reorganization, consolidation, readjustment or sale; to exercise any conversion privilege or ~._. ~ ~ , ,,,- ~~ - ;' Lam:. ~"-~ ; ~Ivt~c,v~~ti 15 subscription right given to my Executor or Trustee as owner of any securities constituting a portion of my estate resulting from any reorganization, consolidation, readjustment, sale, conversion or subscription. 6. To pay all costs, taxes, charges and expenses in connection with the administration of my estate, including such compensations to Executor or Trustee which shall be in accordance with established fees throughout the period of administration of my estate. 7. To determine what is "income" and what is "principal" hereunder, and their decision thereon shall be final; and to purchase securities at a premium or discount, and to apply or charge said premium or discount against income or principal as the Executor or Trustee may determine. 8. The Executor and Trustee may make payments to or on behalf of any person who is the beneficiary hereunder but in no event, however, shall payments be made to any creditor or other such person because of anticipation of payment by the beneficiary, and any such claim made by way of anticipation by the beneficiary shall be of no validity or legal effect. 9. To borrow money from any person, firm or corporation, including any corporation acting as an Executor or Trustee hereunder, for the purpose of protecting and preserving or improving my estate hereunder; to execute promissory notes or other obligations for amounts so borrowed. 10. To employ legal counsel, accountants, brokers, investment advisors, custodians, managers and other agents and employees and to pay reasonable compensation out of my estate or any funds held hereunder to which said compensation is attributable. 11. To carry on any business owned or controlled by me at my death for whatever period of time they shall think proper, and they shall have the power to do any and all things they deem necessary or appropriate, including the power to close out, liquidate or sell the business at such time and upon such terms as they shall deem best. ~ _ . ~J~a~,~,~`'' ~ ~i.Zi ., ,_~v'~'t~-ate 16 1 Z. To do all other acts in their judgment necessary or desirable for the proper and advantageous management, investment and distribution of my estate. TENTH: I direct that all transfer and inheritance taxes, state or federal, assessed because of my death, whether the funds, property or insurance proceeds to which such taxes are attributable pass under this Will or not, shall be paid out of my residuary estate; that my Executor pay, or provide for payment of all such taxes at such time, or times, and in such manner as my Executor deems best. IN WTINESS WHEREOF, I, FRANCIS B. SMITH, the Testator to this, my Last Will and Testament, typewritten on 18 sheets of paper which I have identified at the bottom of each page by my signature, hereunto set my hand and seal the ~ ~ day of ~~ ~ ~= M~ ~. ~' 2003. ,r,~:~~,.~-ems _ ~`t~t~,~ FRA CIS B. SMITH -'~ The preceding instrument consisting of this and seventeen other typewritten pages, each identified by the signature of the Testator, FRANCIS B. SMITH, this day and date thereof signed, published and declared by FRANCIS B. SMITH, the Testator therein named, as and for his Last Will, in the presence of us who, at his request, in his presence, and in the presence of each other have subscribed our names as witnesses. ,-,~ ,.} U t ~l. / l 17 COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND SS I, FRANCIS B. SMITH., Testator whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my Last Will; that I signed it willingly; and that I signed it as my free and voluntary act for the purposes therein expressed. ' ~' CLV ~1.~} ~ i't.C. F 7VCIS B. SMITH Sworn or affirmed to and acknowledged before me by FRANCIS B. SMITH, Testator, the j~~ day of ~~~~~ , 2003. ~~ CL~~ (SEAL) COMMONWEALTH OF PENNSYZVANIA SS .Notary. Public ..._._. ,...._._t.._._W......_..._.. t~iotariaf Sea! Michael Cherewka, Notary Public Wormleysburg Boro, Curberland County My Commission L;<pires Feb. 5, 2005 ~Aember, Pen:-.~; •~~ .-. - ?:aocistion oT Notaries COUNTY OF CUMBERLAND We 1._..~st,~ G, La t~c.`r~ and ~ f f~~~ m . tt,1 t ~l !~ -- the witnesses whose names are signed to the attached or foregoing instrument, being duly qualified according to law, do depose and say that we were present and saw Testator sign and execute the instrument as his Last Will; that he signed willingly and that he executed it as his free and voluntary act for the purposes therein expressed; that each of us in the hearing and sight of the Testator signed the Will as witnesses; and that to the best of our knowledge the Testator was at that time eighteen or more years of age, of sound mind and under no constraint or undue influence. J ~ 1~ j /~ ~ {1- V `j~r~ /y n {//'II ~~ ~~ Sworn or affirmed to and subscribed to before me by L~~~t ~ ~ ~:; ~c_c1'~ and f~ ~ A ~ ~ /~!; - ~~;~ 1 LNG N~ witnesses, this fir day of ~F1~~21~`c;•t_ , 2003. (SEAL) ~~~a,/~~-ct.~~._. Notary Puhlic -._-.--_~.~. Notarial Seal Michael Cherewka, Notary Public 18 Wormleysburg L3oro, Cumberland County My Commission Expires Feb. 5, 2005 anomhar Por:nc~n,: ,..:.. -:':::;i~i;pn Oi N(?tafies