HomeMy WebLinkAbout10-21-08IN THE COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA
ORPHANS' COURT DIVISION
ESTATE OF FRANCIS ALBERT PINK, DECEASED
FILE N0.2007-00683
FAMILY AGREEMENT AND FINAL RELEASE
THIS AGREEMENT by and between STUART B. PINK, as Administrator of the Estate
of FRANCIS ALBERT PINK, Deceased, and JUDITH ANNE GORRA, DIANE M. COX,
STUART B. PINK, CAROLE F. PINK, SCOTT W. PINK and MELISSA MARTIN,
individually.
WHEREAS, FRANCIS ALBERT PINK, late of Carlisle Borough, Cumberland County,
Pennsylvania, died intestate on Apri129, 2007;
WHEREAS, STUART B. PINK was duly appointed as Administrator of the Estate of
Francis Albert Pink, Deceased, by the Register of Wills of Cumberland County on July 18, 2007,
at the above number and term;
WHEREAS, FRANCIS ALBERT PINK is survived by issue JUDITH ANNE
GORRA, DIANE M. COX, STUART B. PINK, CAROLE F. PINK, SCOTT W. PINK and
MELISSA MARTIN;
~~
WHEREAS, the parties in interest pursuant to the Pennsylvania rules of intestate
~` - `',~
(20 Pa. C.S.A. §2101) are: ~ `= ~ ~;
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1. Judith Anne Gorra, daughter , , -~ -''~'
2. Diane M. Cox, daughter =~, -=+
3. Stuart B. Pink, son ~`
4. Carole F. Pink, daughter
5. Scott W. Pink, son
6. Melissa Martin, daughter
Page 1 of 9
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WHEREAS, JUDITH ANNE GORRA, DIANE M. COX, STUART B. PINK,
CAROLE F. PINK, SCOTT W. PINK and MELISSA MARTIN aze entitled to the residuary
estate IN EQUAL SHARES;
WHEREAS, each of the parties to this Agreement have been furnished with a complete
listing of the estate assets, receipts and disbursements as set forth on the Statement of Account as
attached hereto and mazked as Exhibit A;
WHEREAS, it is the desire of the parties to this Agreement that administration of this
estate be completed and accomplished without a formal accounting to the Orphans' Court
Division of the Court of Common Pleas of Cumberland County, it being the desire of the parties
to avoid the expense, delay and publicity of a formal accounting;
WHEREAS, the parties to this Agreement each acknowledge to have received a Schedule
of Distribution attached hereto and mazked as Exhibit A.
NOW, THEREFORE, WITNESSETH, in consideration of the mutual promises,
covenants and agreements recited herein, the parties do agree as follows:
1. STUART B. PINK, Administrator, does hereby state that he has fully and
faithfully dischazged the duties of his office, and the Statement of Account (Exhibit A) is true
and correct and fully discloses all significant transactions during the accounting period. He
further states that all known claims against the Estate have been paid in full, and to the best of his
knowledge there aze no claims outstanding against the Estate, and all taxes presently due from
the Estate have been paid.
Page 2 of 9
2. Each of the parties to this Agreement does hereby release and forever discharge
the said Administrator, STUART B. PINK, his heirs, executors, administrators and assigns,
JAN L. BROWN & ASSOCIATES, attorneys at law, and JAN L. BROWN, ESQUIRE from
any and all liability which may from time to time arise in connection with their service as
Administrator and Attorneys of the Estate of Francis Albert Pink, Deceased. The parties do
further agree to indemnify and hold them harmless from any and all liability which may arise
against the estate from creditors or claimants.
3. Each of the parties does hereby acknowledge receipt of the assets described on the
Schedule of Distribution attached hereto.
4. Each of the parties acknowledges that this Agreement shall be indexed and
recorded in the estate proceedings and that the terms hereof shall be binding upon their respective
heirs, successors, administrators and assigns.
5. Each of the parties do further agree with each other and the aforesaid
Administrator that should any liability come due to the estate of the said decedent after the
signing of this Agreement and distributions to beneficiaries, each will contribute pro rata his/her
share of the estate to satisfy any and all claims, demands, suits or causes of action which maybe
successfully prosecuted against the said estate or the aforesaid Administrator after the signing,
sealing and delivery of this Agreement.
6. This Agreement shall be governed by the laws of the Commonwealth of
Pennsylvania.
Page 3 of 9
IN WITNESS WHEREOF, I have hereunto set my hand and seal this o? G ~ day of
~Gt° bar , 2007.
wITNESS:
-~- ~~ ~_
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STUART B. PINK, Administrator and Beneficiary
COMMONWEALTH OF PENNSYLVANIA .
SS:
COUNTY OF DAUPHIN
On this the 2.~J day of OefD,be~ , 2007 before me, a Notary Public,
the undersigned officer, personally appeared STUART B. PINK, known to me or satisfactorily
proven to be the person whose name is subscribed to the within instrument, and acknowledged
that he executed the same for the purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
N ary Public
col~oNw~cn~ of PEnnsnvANu
NOtARIAI SEAL
lOW R PAXiON TWPNDA~ PN p~p~r
MY COMMISSION EXPIRES MARCH 29 2004
Page 4 of 9
IN WITNESS WHEREOF, I have hereunto set my hand and seal this I s~ day of
/y ow~M.f~.~ , 2007.
WITNESS:
~~ ~ixe
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~~. ~-~~~r~ H ANNE GORRA, Beneficiary c-rC,-c vaz2aZ~l
STATE OF CONNECTICUT
SS:
COUNTY OF
~~ } -
On this the / day of Ny v~~ fir' , 2007 before me, a Notary
Public, the undersigned officer, personally appeared JUDITH ANNE GORRA, known to me or
satisfactorily proven to be 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.
Notary Public DEBRA P. TELMAN
NOTARY PUB I 1-Dq
MY COMti~iSSION EXPIRES
Page 5 of 9
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IN WITNESS WHEREOF, I have hereunto set my hand and seal this J day of
~r/t~y~,o ~, 2007.
Z
DIANE M. COX, Beneficiary
STATE OF NEW YORK
~_v SS:
COUNTY OF
On this the ~ _ day of ~ ~ r ~ , 2007 before me, a Notary
Public, the undersigned officer, personally appeared DIANE M. COX, known to me or
satisfactorily proven to be 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 sr y hand and official seal.
Notary Public
GARY C. BALCOM
Notary Public, State of Newyork
Qualified in Aliegany County
My Commission Expires Nov. 30, ~~ ~
Page 6 of 9
IN WITNESS WHEREOF, I have hereunto set my hand and seal this. ~ ~ day of
(J 07.
WITNESS:
CAROLE F. PINK, Beneficiary
STATE OF NEW FORK
SS:
COUNTY OF ~ r I ,~
On this the ~~ day of ~ ~ .2007 before. me, a Notary
Public, the undersigned officer, personally appeared. CAROLE F. PINK,. lmown to me or
satisfactorily proven to be 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.
.Notary Public
ERfC Ft. BERGER
Notary Public, State of New YOrI(
.Qualified in Ene County.
b1y t:ommisssion Expires •._ •' ~t~ 3' ~~
c ~
Page 7 of 9'
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 31 sf da of
Y
C'I`O ~ r , 2007.
WITNESS:
~3a~~ rn~,Q,.r,
STATE OF CALIFORNIA l
COUNTY OF S (~ (!XGU1'l P.l~t C O
W. ~.~k
SCOTT W. PINK, Beneficiary
SS:
on this the __~ 1___ day of 6 ~0 ~Q~-"' , 2007 before me, a Notary
Public, the undersigned officer, personally appeared SCOTT W. PINK, known to me or
satisfactorily proven to be the person whose name is subscribed to the within instrument, and
acknowledged that he executed the same for the purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
~W~,A IC 8 RGENS
Ca~nrNWort~r i4d4427
~otarv Puc~Mc - CaNfomia _
ScSCramento County
My r'~xnn, Fxpir~s Apr 20 2Q08
Notary Public
Page 8 of 9
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 2 day of
~~V2w1 ~ v , 2007.
wITNESS:
~~' v `~
MELISSA MARTIN, Beneficiary
COMMONWEALTH OF MASSACHUSETTS
SS:
COUNTY OF ~ ~ .
On this the ~ da of Y U
-(.~ Y , 2007 before me, a Notary
Public, the undersigned officer, personally appeared MELISSA MARTIN, known to me or
satisfactorily proven to be 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. '
~~ a
Notary Public r
RHONN~A D.Y FBg MBARD
Commonwealth of Massachusetts
My Commission Expires
Septemt~er 21, 2012
Page 9 of 9
ESTATE OF FRANCIS ALBERT PINK
DATE OF DEATH APRIL 29, 2007
SUMMARY STATEMENT OF ACCOUNT
Assets -Schedule A
Income -Schedule B
Principal Increases/Decreases -Schedule C
Disbursements -Schedule D
Assets Available for Distribution
Distributions to Beneficiaries -Schedule E
Balance reserved for contingencies*
$ 211,269.53
$ 3,105.76
$ 3, 703.28
$ (26,076.83)
$ 192,001.74
$ 180,000.00
$ 12,001.74
*The reserve balance may increase or decrease based on receipt of additional
assets/income, presentation of an obligation and/or payment of additional charges. The
reserve will be distributed to the residuary beneficiaries after payment of any additional
obligations. After final distribution is made, the residuary beneficiaries agree to pay
further liabilities of the decedent in the future.
Period 4/29/07-10/23/07 Exhibit A
ESTATE OF FRANCIS ALBERT PINK
ASSETS
SCHEDULE A
DESCRIPTION VALUE AT
DATE OF DEATH
SECURITIES/BONDS
American Funds Grth Fund of Amer F (GFAFX); 632.065 shs ~ $34.76/sh $ 21
970
58
Davis Opportunity Y (DGOYX); 390.594 shs @ $29.16/sh $ ,
.
11
389
72
Julius Baer International Equity A (BJBIX); 337.461 shs @ $46.83/sh $ ,
.
15
803
30
Royce Premier Inv (RYPRX); 564.724 shs @ $19.83/sh $ ,
.
11
198
48
T. Rowe Price Equity Income (PRFDX); 782.264 shs @ $31.01/sh $ ,
.
24 258
01
Third Avenue Real Estate Value (TAREX); 282.349 shs @ $37.09/sh $ .
10472
32
Vanguard Short-Term Investment-Grade (VFSTX); 5,911.542 shs @ $10.59/sh $ .
62
603
23
Wells Fargo Advantage Ultra S/T Inc Inv (STADX); 2,935.532 shs @ 9.1/sh $ ,
.
26,713.34
CASH
M&T Bank Checking 1411810202 $ 12
428
97
M&T Bank Market Adv 15004211211624 $ ,
.
2
548 73
Multi-Financial Securities Corp Acct 08Z-086848; cash $ ,
6
105
36
Multi-Financial Securities Corp Acct 08Z-086848; cr for che
k
t ,
.
c
no
negotiated $ 2,500.00
REIMBURSEMENTS/REFUNDS
Kinetic Imaging; Account 7679932 refund $ 121
41
Sarah A Todd Memorial Home; credit balance refund $ .
290
81
United States Treasury; 1040 refund for 12/06 $ .
2,865.27
$ 211,269.53
Period 4/29/07-10/23/07
ESTATE OF FRANCIS ALBERT PINK
INCOME
SCHEDULE B
DESCRIPTION
Interest Income
Citizens Bank Money Market 621434-939-9 (estate account)
M&T Bank Market Adv 15004211211624
Multi-Financial Securities Corp Acct 08Z-086848
Dividend Income
Vanguard Short-Term Investment-Grade; 5/1//07
Wells Fargo Advantage Ultra SR Inc Inv; 5/2/07
Vanguard Short-Term Investment-Grade; 6/1//07
Wells Fargo Advantage Ultra SR Inc Inv; 6/4/07
T. Rowe Price Equity Income; 6/29/07
Vanguard Short-Term Investment-Grade; 7/2/07
Wells Fargo Advantage Ultra S/T Inc Inv; 7/3/07
Vanguard Short-Term Investment-Grade; 7/20/07
Wells Fargo Advantage Ultra S/T Inc Inv; 7/24/07
investment Activity/Reinvestment
$ 1,499.93
$ 16.85
$ 115.30
$ 249.76
$ 112.54
$ 258.67
$ 117.84
$ 117.34
$ 253.16
$ 120.42
$ 159.02
$ 84.93
$ 3,105.76
5/1/2007 Vanguard Short-Term Investment-Grade; 23.54 shs @ $10.61 $ 249.76
5/2/2007 Wells Fargo Advantage Ultra SR Inc Inv; 12.367 shs @ $9.10 $ 112.54
6/1/2007 Vanguard Short-Term Investment-Grade; 24.542 shs @ $10.54 $ 258.67
6/4/2007 Wells Fargo Advantage Ultra SR Inc Inv; 12.964 shs (d~ $9.09 $ 117.84
6/29/2007 T. Rowe Price Equity Income; 3.751 shs @ $31.282 $ 117.34
7/2/2007 Vanguard Short-Term Investment-Grade; 24.065 shs @ $10.52 $ 253.16
7/3/2007 Wells Fargo Advantage Ultra S/T Inc Inv; 13.248 shs @ $9.09 $ 120.42
Period 4/29/07-10/23/07
ESTATE OF FRANCIS ALBERT PINK
PRINCIPAL INCREASES/DECREASES
SCHEDULE C
DATE DESCRIPTION AMOUNT
7/24/07 Sold American Funds Grth Fund of Amer F; 632.065 shares
Sales Price $ 23,443.29
Estate Value $ 21,970.58
7/24/07 Sold Davis Opportunity Y; 390.594 shares
Sales Price $ 12,108.41
Estate Value $ 11,389.72
7/20/07 Sold Julius Baer International Equity A; 337.461 shares
Sales Price $ 16,940.54
Estate Value $ 15,803.30
7/20/07 Sold Royce Premier Inv; 564.724 shares
Sales Price $ 11,853.56
Estate Value $ 11,198.48
7/20/07 Sold T. Rowe Price Equity Income; 786.015 shares
Sales Price $ 25,113.18
Estate Value $ 24,375.35
7/24/07 Sold Third Avenue Real Estate Value; 282.349 shares
Sales Price $ 9,989.51
Estate Value $ 10,472.32
7/20/07 Sold Vanguard Short-Term Investment-Grade; 5983.689 shares
Sales Price $ 62,888.58
Estate Value $ 63,364.82
7/24/07 Sold Wells Fargo Advantage Ultra S/T Inc Inv; 2974.111 shares
Sales Price $ 27,004.92
Estate Value $ 27,064.14
GAIN/LOSS
$ 1,472.71
$ 718.69
$ 1,137.24
$ 655.08
$ 737.83
$ (482.81)
$ (476.24)
$ (59.22)
$ 3,703.28
Period 4/29/07-10/23/07
ESTATE OF FRANCIS ALBERT PINK
DISBURSEMENTS
SCHEDULE D
DESCRIPTION
CATEGORY AMOUNT
Malpeui Funeral Home
Funerallunchoen Funeral $ 285.28
The Register of Wills, Cumberland County; probate fees Funeral $ 1,000.00
Jan L Brown & Associates; legal fee Adm $ 416.00
Cumberland Law Journal; legal advertising Adm $ 6,338.00
The Sentinel; legal advertising Adm $ 75.00
M&T Bank; bank charges Adm $ 206.50
Multi-Financial Securities Corp; advisory fees Adm $ 44.85
Accountant; 1040 & 1041 income tax preparation fee (estimate) Adm
Adm $ 351.33
Checks written predeath and cashed postdeath $ 500.00
American Express Debt $ 520.00
Bryce Arndt DDS Debt $ 840.91
Elite Staffing Services Inc; date of service 12/29/06-1/19/07 Debt $ 1,164.86
Millennium Pharmacy Systems Inc Debt $ 5,555.25
Pharmerica Debt $ 120.58
Pinnacle Health Hospitals Debt $ 70.E
Silver Spring Ambulance Debt $ 300.00
Register of Wills Agent; Inheritance Tax Debt $ 17.27
Tax $ 8,270.56
$ 26,076.83
Period 4/29/07-10/23/07
ESTATE OF FRANCIS ALBERT PINK
DISTRIBUTION TO BENEFICIARIES
ACCORDING TO INTESTATE SUCCESSION (20 Pa.C.S.A. § 2101 et seq.)
SCHEDULE E
Judith Anne Gorra, daughter, 1/6 residuary estate
Cash distribution on or about 10/29/07
Diane M Cox, daughter, 1/6 residuary estate
Cash distribution on or about 10/29/07
Stuart B Pink, son, 1/6 residuary estate
Cash distribution on or about 10/29/07
Carole F Pink, daughter, 1/6 residuary estate
Cash distribution on or about 10/29/07
Scott W Pink, son, 1/6 residuary estate
Cash distribution on or about 10/29/07
Melissa Martin, daughter, 1/6 residuary estate
Cash distribution on or about 10/29/07
$ 30,000.00
$ 30,000.00
$ 30,000.00
$ 30,000.00
$ 30,000.00
$ 30,000.00
$ 180,000.00
$ 180,000.00
Period 4/29/07-10/23/07