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HomeMy WebLinkAbout10-16-08..~ r /~. ~? I - ~~ / ~ ~J' ~~ ~~ ~ _> =: _^ ~ '=~ _~ -~ --<-, _-~ v, .; ; -- ESTATE SETTLEMENT AGREEMENT =~ -"~^' T -,~:. _, _ _. ~-~ - ti J :_~ .. Y -- J THIS AGREEMENT, is made the ~ day of September, 2008, by and between ,Rebecca L. Oldt, Executrix of the Estate of Ronald J. Oldt, deceased (herein referred to as Executrix), and Rebecca L. Oldt, as the specific beneficiary of the said Estate, hereinafter collectively referred to as the "Beneficiary". In accordance with his desire that the administration of the Estate of Ronald J. Oldt be expedited, the parties hereto, in consideration of the mutual covenants herein expressed, and intending to be legally bound hereby, agreed that: 1. The Estate of Ronald J. Oldt, who died September 7, 2007, is now in the process of administration, Letters Testamentary having been duly granted to the Executrix, by the Register of Wills of Dauphin County, Pennsylvania on September 28, 2007. 2. Under the provisions of the decedent's Will, decedent gave all of the residue of his Estate as follows: one hundred percent (100%) to Rebecca L. Oldt, the Beneficiary. 3. In lieu of a formal Accounting, the Executrix has given the Beneficiary an informal Accounting and Schedule of Distribution. The Beneficiary waives the filing of an Accounting and Audit and accepts an informal accounting in lieu thereof. `X 4. Without intending to limit the rights or remedies of the Executrix, the parties further agree to indemnify the Executrix and save the Executrix harmless against all liability, loss, and expense (including, but not limited to, costs and counsel fees) which the Executrix may incur, whether due to the Executrix's negligence or otherwise, as a result of making the above described distributions without a Court audit. The parties, and each of them, hereby forever fully release, compromise, settle and discharge any and all claims, demands, actions or causes of action, legal or equitable, absolute or contingent, vested or hereafter to accrue, which any of them may have against any other party hereto or against the Estate of Ronald J. Oldt, deceased, or the Executrix thereof, by reason of any matter, cause or thing growing out of, or relating to any property or assets of the said Estate, or growing out of or relating to any act of the Executrix in her administration of said Estate, even if attributable to negligence, and agree that any period for the limitation of actions for the collection of any erroneous distribution or distributions shall commence only at such time as the Executrix shall have obtained actual knowledge of such erroneous distribution or distributions and that in no event shall the period for collection or any erroneous distribution or distributions be less than two (:~) years after the actual discovery thereof by the Executrix. 6. The parties agree to execute such additional releases as the Executrix may submit to them in order to confirm their discharge from any further liability to the parties in connection with the said Estate. 7. The foregoing provisions which apply to the Executrix shall apply also to any Executrix who may be appointed in connection with any ancillary administration which may be required in order to complete distributions in the Commonwealth of Pennsylvania. 8. This Agreement may be executed in multiple counterparts and, when so executed, shall be binding upon all the parties, and their respective heirs, next-of--kin, personal representatives, and assigns. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. WITNESS: ESTATE OF MARY ANN MILLER By: ~~ Rebecca L. Oldt, Executrix BENEFICIARY: Rebecca L. Oldt F:\Home\AHEWITT\DOCS\O-P\OLDT, REBECCA\ESTAGREE 090808.wpd ~GK j2m~J 1 ..s ~ ~~ ~U ~~ ~ `'~ °~ bd ~-~ r_'sr OFFIC,IA' SLAL ~ ,,,~~ E?ELIIvD~ RICHMOND