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Home My WebLink About11-26-08IN THE MATTER OF THE ESTATE OF JEANNETTE HULL STEVENS, DECEASED REGISTER OF WILLS IN AND FOR CUMBERLAND COUNTY, PENNSYLVANIA File No. 2008 - 001 19 "' ',='~~ FAMILY SETTLEMENT AGREEMENT ~~•~ ~~ N .:: ~ i CTS _ !%.~.: ~~ ~ -,l..7 -s~ =~ ~=~ l THIS AGREEMENT, made this 30~" day of September 2008, ___, _ y'- , ~a ' ; rrr WITNESSETH: THE CIRCUMSTANCES leading up to the execution of this Agreement are as follows: 1. Jeannette Hull Stevens (the "Decedent"), a widow, died testate on January 18, 2008, and Holly S. Handley duly qualified with the Register of Wills of Cumberland County, Pennsylvania, as Executrix (the "Executor") of her probate Estate (the "Estate") 2. Paragraph IV of the Will provides as follows: "I devise and bequeath all the rest, residue and remainder of my estate of whatever nature and wherever situate unto my two children, Holly Stevens Handley and George Myron Stevens, in equal shares." 3. Holly Stevens Handley and George Myron Stevens (the Beneficiaries") desire the Executor to settle the Estate informally in order to avoid the expense and delay involved with the formal adjudication of a First and Final Account by the Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania (the "Court"). 4. 'Che Beneficiaries desire to forever settle and compromise any and all claims and rights which they may possess, now or hereafter, in the Estate and to confirm their acceptance of the Informal Account (the "Account") which is attached hereto as Exhibit "A" and incorporated herein ~~ by this reference. The Beneficiaries desire that the terms of the Account be in full satisfaction of their rights in the Estate. 5. The Beneficiaries wish to release the Executor and to indemnify her against any and all claims that may be asserted against the Estate or the Executor after the date hereof. 6. The Executor is willing to settle the Estate informally in consideration of the indemnifications hereinafter provided by the Beneficiaries. NOW, THEREFORE, in consideration of the foregoing and intending to be legally bound, jointly and severally, the Beneficiaries, for themselves, their heirs, personal representatives, successors and assigns: Represent and warrant that they have read and understand this Agreement and confirm that the facts set forth above are true and correct, to the best of their knowledge, information, and belief. 2. Acknowledge receipt of a copy of the Account. 3. Declare that they have had the opportunity to review the Account and based upon an examination (or on their decision not to make such an examination), they are satisfied that they have sufficient information to make an informed waiver of their right to a formal accounting with the Court, and do hereby waive the filing and auditing of the same. 4. Accept the Account, examined or not, as if the same had been duly filed with and audited, adjudicated, and confirmed absolutely by the Court. 5 . Acknowledge that the distributive share or amount received shall be in full satisfaction of their respective entitlements under the Will, and acknowledge that they have each received their respective shares. 6. Release, remise, quitclaim and forever discharge the Executor, her heirs, personal representatives, successors and assigns, from and against all claims that they, as residuary legatees and heirs had, now have, or may in the future have, in connection with the Estate. -2- 7. Agree to refund on demand, all or any part of any aforesaid distribution, which has been determined by the Executor, or by the Court, or by any court of competent jurisdiction to have been improperly made. 8. Agree to indemnify and hold harmless the Executor, her heirs, personal representatives, successors and assigns, from and against any and all claims, loss, liability or damage (whether or not related to the negligence of the Executor) that may hereafter be asserted against the Estate or against the Executor. 9. Consent to the Court exercising personal jurisdiction over them in any suitor action arising out of the enforcement of this Agreement. IN WITNESS WHEREOF, and intending to be legally bound, the Beneficiaries have placed their hands and seals on the attached Consents to this Estate Settlement Agreement. -3- CONSENT TO ESTATE SETTLEMENT AGREEMENT I, Holly S. Handley, hereby consent to and join in the Estate Settlement Agreement relating to the Estate of Jeannette Hull Stevens, deceased, a copy of which Estate Settlement Agreement has been provided to me. ~'~ a g- Date COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND Holly S. Handley ss: On this, the ~ day of September 2008, before me, the undersigned officer, personally appeared Holly S. Handley, 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 in the capacities and for the purposes therein contained. IN WITNESS WHEREOF, I hereunder set rr NOTARIAL q ._e..,.~`°'~ EILEEN A METHENY YORK C~Ty -Y Public YORK COUNTY MY Commisslon Ex~~res Ao~ ?0 20T ? -4- r ~ CONSENT TO ESTATE SETTLEMENT AGREEMENT I, George Myron Stevens, hereby consent to and join in the Estate Settlement Agreement relating to the Estate of Jeannette Hull Stevens, deceased, a copy of which Estate Settlement Agree- ment has been provided to me. -3~-v~ Date eo a My n Stevens COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND ss: On this, the 3 0 day of September 2008, before me, the undersigned officer, personally appeared George Myron Stevens, 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 in the capacities and :for the purposes therein contained. IN WITNESS WHEREOF, I hereunder set my hand and official seal. ~ , Notary Public ~, ~r-~ DANIEL N. OERIN, Attorney at Law • = ~ `} Notary PubC~c, State ~ Ohfo My oommfasiOn has no e~iration ~,g~ dame. Sedbn 147.03 R.C. d N O O V O D~ N O C H G1 Q ~ ~ N _~ W O d ~ c E O d O 7 N w O .~ N W 0 00 z~ ~ ~ c c c c c c W ~ ~ ~ ~ ~ ~ ~ O U U U U U U o ~ v, c a a a a a a => = a~ ~ ~ ~ ~ ~ ~ a~ c ~ ~ c ~ . ~ ~ ~ ~ N V ~ N W W W W W W . C O ~ ~ ~ ~ ~ ~ ~ ~ U U U U U U U ~ Z Z Z c ~ Z Z Z N 0 0 0 0 0 0 ~ N N N N ~ Z fn ~ :~ N ~ ~ 0 0 0 • 0 0 0 ~ ~ ~ ~ ~ ~ ~ ~ d O Cfl N Q~ ~ ~ ti ~ O N O 0 M 0 O 0 O ~f! ~ ~ ~ ' ~ N ++ O ~ M O ~+ ~ N 00 C N O N O O O O M r N N 00 O M 00 M = M O N ~ d O M N 00 L ~ M 00 ; Q ~ O V ~ ~ ~ ~ ~ ~ ~ ~ ~ t~ O 00 M M N r ~C O ~f ti ~ ~ (O N O O ~ N O O N 1~ ~ O to C ~ ~ tD O O OO O C7 ~ (O I~ ~t O O O ~ N M ~ N C 0 0 ~ M Oro Q O ~ ~ CO r Q N Q 6c} E!-} E9 EA Ef} ~} ~} 6F} EF3 EA J J ~ a ~ ~ O ~ ~ m m N ~ N C M ~ (~ ~ O ~ •~ ~ LL Y E M M a Y Z ~ Z *k ~ ~ ~a o ~ ~ v ~ > H U U N L f C t6 a ~ ~ Q ~= ~ ~~ o o ~ U ' ~ N ~ ~ ~ c o U U Y c o ~ E ~ U > > ~ m ~ ~ U U ~ m 'a~ ~ ~ m U U o ~ ~ cn > ~ U U ~ ~ ~ ~ ~ Z m m C7 ~ O ~ O 'fit r r N r O r M M O O N M O r 69 H Q W ~ N ~ ~ _m 2 ~ F- F"' _N ~ ~ LL ~ O ~ W N ~ ~ a a O O N rn cd a Q H DO 2 X W Estate of Jeannette Hull Stevens, Deceased Debts and Deductions Paid from the Estate Estate Debt and Costs of Administration Amount Paid Funeral & Related Ex enses -Auer Memorial Home Probate Fees to Cumberland Coun Recorder of Deeds $ $ 2,837.31 330.00 2007 Personal IncomeTax Pre aration to Gift & Associates $ 190.00 Total Administrative Costs and Debts aid on behalf of Estate Attorne Fees aid to or to be aid to Pecht & Associates $ $ 2,324.11 4,500.00 Personal Re resentative Commission $ 4,000..00 Penns Ivania Inheritance Taxes aid to De artment of Revenue $ 5,033.76 TOTAL $ 19,215.18 EXHIBIT A -Page 2 ,... Estate of Jeannette Hull Stevens, Deceased Summary of Distribution of Assets Asset Name Current Value** Distribution to Holly Distribution to George Nuveen Munici al Value Fund $ 43,241.62 $ 21,620.81 $ 21,620.81 Southern Com an Stock $ 39,581.28 $ 19,790.64 $ 19,790.64 Investment Accounts Balance to be Distributed $ 82,822.90 $ 41,411.45 $ 41,411.45 Assets Deposited to Estate Account Value when Deposited Distribution to Holly Distribution to George Belco CCU Certificate #53073 $ 10,074.74 Belco CCU Certificate #53074 $ 5,036.47 Genworth Financial LTC Polic Check $ 130.26 MidFirst Bank CD $ 20.00 O enheimer Mone Market Funds li uidated 8/8/08 $ 2,827.03 US IRS Stimulus Check $ 300.00 Estate Account Total Deposits $ 18,388.50 Less Debts and Costs paid and due $19,215.18 Estate Account Balance to be Distributed ($826.68) ($413.34) ($413.34) Account Category Asset Value Distribution to Holly Distribution to George Investment Accounts Balance to be Distributed $ 82,822.90 $ 41,411.45 $ 41,411.45 Estate Account Balance to be Distributed ($826.68) ($413.34) ($413.34) Total Assets to be Distributed *i V..1...._ n.._a.._a_ ~_n_. n--__-- _. . _ -- _. $ 81,996.22 $ 40,998.11 $ 40,998.11 ^•--- ••--•~-.-•~ ~ .•~. ~+..... vn .a~uc w vaiuc aaacaaCU 7/LVlVB EXHIBIT A -Page 3