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HomeMy WebLinkAbout10-17-08OB - I09 ?9~(i~ ~C- ~ 7 F'F~ 3• Zlt FAMILY SETTLEMENT AGREEMENT ;. IN THE ESTATE OF LENA E. DEROSA, DECEASED t~~f ~ ~., ~ ' -~-`yT ~;" _ ~ ~. vv AGREEMENT executed this 13 ~ day of Q ~i'~ b e~ , 2008, by and between ANTHONY CARL DEROSA, Executor of the Estate of LENA E. DEROSA, deceased, and ANTHONY CARL DEROSA, GEORGE T. SCARO and VICTOR SCARO, heirs and beneficiaries of the Estate of LENA E. DEROSA. WHEREAS, LENA E. DEROSA, late of North Middleton Township, Cumberland County, Pennsylvania, died on January 1, 2008, having left a Last Will and Testament dated December 12, 2001. WHEREAS, on January 30, 2008, the Register of Wills in and for the County of Cumberland, Commonwealth of Pennsylvania, did constitute and appoint ANTHONY CARL DEROSA, as Executor of the Estate of LENA E. DEROSA, in Estate Number 21-08-0109 upon the probating of the aforesaid Last Wiil and Testament, and WHEREAS, the Executor has proceeded with the administration of said Estate consisting of assets in the amount of $106,790.06, plus non-probate assets of $2,785.24, less disbursements in the amount of $25,867.55, and less in-kind distributions of non-probate assets in the amount of $2,785.24, leaving a principal balance on hand of $80,027.51, as set forth in the First and Final Account, a true and correct copy is attached hereto and made part hereof as Exhibit "A", and WHEREAS, the only parties in interest in said Estate are the above-named parties, and WHEREAS, said parties in interest desire that the Executor shall not be required to file an Account with the Orphan's Court of Cumberland County, Pennsylvania, and that the net estate of the decedent shall be distributed without the necessity of filing a formal Account to avoid the expense, delay and publicity of a formal accounting, but should instead be distributed in accordance with the Executor's Proposed Schedule of Distribution, a true and correct copy of which is attached hereto and made a part hereof as Exhibit "B". NOW THEREFORE, in consideration of the mutual promises, covenants and agreements recited herein, the above-named heirs and beneficiaries of the Estate of LENA E. DEROSA do hereby mutually agree as follows: 1. The parties hereto, and each of them, agree and acknowledge that they have fully and carefully examined the First and Final Account of ANTHONY CARL DEROSA, Executor for the Estate of LENA E. DEROSA, deceased, and Proposed Schedule of Distribution relating thereto, and find them to be true and correct, and acceptable to the parties hereto and each of them, and further that each of them has received a copy of this Family Settlement and Final Release and of said Account and Proposed Schedule of Distribution. 2. The parties hereto hereby agree that in order to avoid the expense, delay and publicity involved in the filing of a formal Account and Schedule of Distribution, no accounting to the Court is necessary and we do hereby agree that we do consent to distribution being made without the filing of an Account and Schedule of Distribution, the •~ same to be with the same force and effect as if they had been filed and confirmed by the Orphan's Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania. 3. The parties hereby remise, release, quitclaim and forever discharge the Estate of LENA E. DEROSA, and ANTHONY CARL DEROSA, Executor, his heirs, Executors, administrators and assigns, from all manner of acts, suits, claims, accountings, debts and demands whatsoever which we or any of us or our legal representatives or assigns may at any time hereafter have against said Executor, estate, or assets thereof, touching or concerning the Estate of the Decedent. 4. The parties hereto covenant and agree that they will contribute their share of the Estate to satisfy all claims, debts, demands, suits or cause of action which may be successfully brought against the Estate or the Executor after the execution of this Family Settlement and Final Release. 5. The parties hereto hereby agree that they will at all times in the future and wherever necessary, appropriate or convenient, made, execute and deliver to said Executor, and/or to the other party or persons, any and all instruments, documents, conveyances, deeds, releases or other instruments of any kind necessary or convenient to carry out the intention of this Family Settlement and Final Release. 6. This Family Settlement and Final Release constitutes the entire understanding among the parties hereto, and each of them acknowledges that no representations or statements of any kind, written or oral, have been made to them or any of them prior hereto by the Executor or any other person or party upon his behalf. 7. It is further the intent of this Family Settlement Agreement to recognize the fact that the Executor, Anthony Carl DeRosa, as well as legal counsel for the estate, exerted extreme efforts attempting to locate the disinherited child, Raymond N. Scaro, including a wide array of Internet searches and searches with government entities. The Executor and legal counsel for the estate are left with no additional resources to investigate in order to determine the location or whereabouts of Raymond N. Scaro, or if he is even alive. None of the beneficiaries named herein have had any contact with Raymond N. Scaro for several decades. These said heirs reaffirm that they have no knowledge of the whereabouts of Raymond N. Scaro through execution of this Family Settlement Agreement. It is further noted that the purpose in attempting to locate Raymond N. Scaro is to advise him of the death of the Decedent herein and to advise him that the Last Will and Testament probated in this matter disinherits him from any receipt of benefits from this estate. 8. This Family Settlement and Final Release shall inure to the benefit and shall bind the parties hereto, and each of them, their heirs, Executors, administrators, successors and assigns. 9. This Family Settlement and Final Release shall be governed by the laws of the Commonwealth of Pennsylvania. IN WITNESS WHEREOF, the parties hereto have hereunto set their respective hands and seals the day and year first above written. WITNE SETH: Date THON CARL DEROSA Executor ~ ~~ a~ ~ e ,~~~. Date ANTHO CARL DEROSA Individually as heir and beneficiary ~! 0 Date GEORGE T. SCARO Individually as heir and Beneficiary Date VICTOR SCARO Individually as heir and beneficiary FIRST AND FINAL ACCOUNT OF ANTHONY CARL DEROSA, EXECUTOR OF THE ESTATE OF LENA E. DEROSA, Deceased Date of Death: January 1, 2008 Date of Executor's Appointment January 30, 2008 Accounting for the Period of January 30, 2008 to September , 2008 Purpose of Account: ANTHONY CARL DEROSA, Executor of the Estate of LENA E. DEROSA, offers this Account to acquaint interested parties with the transactions that have occurred during his administration of the Estate for the accounting period indicated above. The Account also indicates the proposed distribution of the Estate. It is important that the Account be carefully examined. Request for additional information or questions or objections can be discussed with: Bradley L. Griff~e, Esquire GRIFFIE & ASSOCIATES 200 North Hanover Street Carlisle, PA 17013 (717) 243-5551 (800) 347-5552 EXHIBIT "A" SUMMARY OF ACCOUNT Principal -Total Assets $109,575.30 Less Disbursements of Principal (-) 25,867.55 Non-probate assets previously distributed (T) 2,785.24 TOTAL Cash Available for Distribution $80,922.51 RECEIPTS OF PRINCIPAL REAL ESTATE 1208 Pheasant Drive South Carlisle, Cumberland County, PA ........................ $ 105.000.00 SUBTOTAL ..............................................................$105,000.00 PERSONAL PROPERTY 1. Household furnishings (appraised) ................ 895.00 SUBTOTAL ..................................................................$895.00 ADDITIONAL RECEIPTS 1. Highmark Insurance premium refund.....$221.40 2. Comcast refund .............................. $ 28.45 3. Highmark Insurance reimbursement.......$ 4.12 for medical expenses 4. State Farm Home Owners refund...........$ 68.67 5. Tax proration at Real Estate Settlement...$522.10 6. West Shore ALS refund ..................... 50.32 SUBTOTAL ................................................................... 895.06 TOTAL PRINCIPAL of probate Estate before adjustments ..............$106,790.06 JOINTLY-OWNED PROPERTY 1. Sovereign Bank ...................................$799.24 Checking Account No. 41098463 (Joint with Anthony C. DeRosa) (100% attributable to estate) 2. Sovereign Bank ..................................$188.13 Savings Account No. 1694003888 (Joint with Anthony C. DeRosa} (50% attributable to estate) 3. Sovereign Bank ..................................$1,122.57 Checking Account No. 2891031474 (Joint with Janet A. DeRosa) (50% attributable to estate) 4. Sovereign Bank ................................... 675.30 Certificate of Deposit No. 2895279954 SUBTOTAL ..............................................................$2,785.24 GAINS AND LOSSES ON SALES AND OTHER DISTRIBUTIONS GAINS: None LOSSES: None NET ADJUSTMENT FOR GAINS AND LOSSES .................(-)$.00 Total principal of Estate with all adjustments ............................$109,575.30 DISBURSEMENTS OF PRINCIPAL Orrstown Bank Account No. 103007708 DEBTS OF DECEDENT Comcast (Cable) ............................................................... $ 33.91 Walmart (Credit Card) .......................................................... $ 304.18 North :Middleton Water Authority ......................................... $ 79.90 Forest Park Health Center (Transportation) ........................... $ 50.00 West Shore EMS (Ambulance) .................................. $ 130.48 PPL Electric Utilities ............................................. ..$ 128.24 Spring Road Family Practice (medical) ........................ .$ 54.84 Cumberland Pathology Associates (medical) ................. . $ 18.62 Embarq .............................................................. $ 34.02 West Shore EMS (ambulance) ...................................$ 288.52 SUBTOTAL :.................................................$ 1,122.71 FUNERAL EXPENSES Ewing Brothers Funeral Home, Inc .................................... $ 7,311.72 SUBTOTAL :................................................ $ 7,311.72 ADMINISTRATION EXPENSES 1. Attorney's fees to GRIFFIE & ASSOCIATES .................... $ 3,000.00 2. Probate Fees .......................................................................... $ 328.00 3. Advertising -The Sentinel ................................................... $ 150.64 4. Advertising -Cumberland Law Journal ............................... $ 75.00 5. Nassau County Board of Election ......................................... $ 5.00 6. State Farm Homeowner's Insurance ..................................... $ 81.75 7. Realtor's Commission ........................................................... $ 6,300.00 8. Notary Fees ........................................................................... $ 10.00 9. Realty Transfer Tax .............................................................. $ 1,050.00 10. North Middleton Water Authority ........................................ $ 138.71 11. Marshall Electric (Electrical repairs) .................................... $ 654.57 12. PPL Electric Utilities ............................................................ $ 55.64 13. Real Estate Taxes ................................................................. $ 302.60 14. Linden Hall (Personal property appraisal) ............................ $ 125.00 15. Memorial Solutions (Headstone) .......................................... $ 481.00 16. Anthony C. DeRosa Executor's Expenses ...................... $ 494.31 17. Beam's Carpet, Inc. (Flooring repairs) .......................... $ 65.60 SUBTOTAL: $ 13,317.82 POST DEATH CHECKS PROCESSED FOR DECEDENT'S ACCOUNT Beam's Carpet, Inc. (Flooring repairs) 383.94 TAXES Pennsylvania Inheritance Tax $3,927.74 Less Discount - 196.39 SUBTOTAL: TOTAL DISBURSEMENTS OF PRINCIPAL NON-PROBATE ASSETS PREVIOUSLY DISTRIBUTED 1. Sovereign Bank ...................................$799.24 Checking Account No. 41098463 (Joint with Anthony C. DeRosa) (100% attributable to estate) 2. Sovereign Bank ..................................$188.13 Savings Account No. 1694003888 (Joint with Anthony C. DeRosa) (50% attributable to estate) 3. Sovereign Bank .................................. $1,122.57 Checking Account No. 2891031474 (Joint with Janet A. DeRosa) (50% attributable to estate) 4. Sovereign Bank ................................... $675.30 Certificate of Deposit No. 2895279954 SUBTOTAL: IN KIND DISTRIBUTIONS Personal Property (Anthony C. DeRosa) $ 895.00 SUBTOTAL: $2,785.24 $895.00 $383.94 $3,731.35 $25,867.55 INTERIM DISBURSEMENTS TO BENEFICIARIES None TOTAL DISBURSEMENT AND DISTRIBUTIONS $ 29,547.79 Total Principal of Estate with Adjustments $109,575.30 Total Disbursements and Distributions $ 29,547.79 Net available estate assets $80,027.51 PROPOSED SCHEDULE OF DISTRIBUTION Assets for Distribution Cash on Hand ....................................................................... $80,027.51 TOTAL: $ 80,027.51 Net Cash on Hand Distributed as Follows: ANTHONY CARL DeROSA .............................................. $26,079.17 GEORGE T. SCARO ........................................................... $26,974.17 VICTOR SCARO .................................................$26,974.17 TOTAL CASH DISBURSEMENT: $ 80,027.51 EXHIBIT "B"