HomeMy WebLinkAbout12-29-08FAMILY SETTLEMENT AND FINAL RELEASE ~_,
ESTATE OF ELIZABETH F. KING <-~ - .
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KNOW ALL MEN BY THESE PRESENTS, that Elizabeth F. King, ;late 'the
Borough of Camp Hill, Cumberland County, Pennsylvania, deceased, died:. testate on
July 9, 2008, having first made her Last Will and Testament, which was d~:rt~r execed
on June 20, 1996 and probated in the Office of the Register of Wills of,Cumber~and
County, on August 1, 2008, at File No. 21-08-0800.
WHEREAS, the said Elizabeth F. King, by the aforesaid Last Will and Testament,
named William J. King as Executor of said Last Will and Testament;
WHEREAS, Letters Testamentary on the Estate of the said decedent were duly
issued by the Register of Wills of Cumberland County, Pennsylvania, to the said
Executor, hereinafter called personal representative;
WHEREAS, the personal representative has gathered the assets of the Estate of
the said decedent and the assets consist of personal and real property with the total
value of $16,479.83 as set forth in Exhibit "A", which is a copy of the Pennsylvania
Inheritance Tax Return filed and approved by said personal representative, and which is
attached hereto and made a part hereof, and marked Exhibit "A";
WHEREAS, the debts and deductions, including the payment of inheritance tax
in the said Estate, which has now been paid, leave a balance for distribution of
$8,221.89, also as set forth in the statement of said personal representative, which is
attached hereto and marked Exhibit "B";
WHEREAS, the balance for distribution as shown in the said statement marked
Exhibit "B" has been reduced to cash and has been distributed as herein indicated in
accordance with the terms of the Last Will and Testament of the said Decedent;
NOW, THEREFORE, William J. King Ledger, being the sole heir under the Last
Will and Testament of the said decedent, and being that person entitled to inherit under
said Last Will and Testament, does hereby acknowledge that he has this day had and
received from the aforesaid personal representative, in full satisfaction and payment of
all sums of money, legacies, bequests, and devises as are given, devised and
bequeathed to him by the said Last Will and Testament, the amount due him under said
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~_ast Will and Testament, which amount he has received this day or prior to this day;
and, he does hereby stipulate that in order to avoid the expense and time involved in
the filing of a formal account and schedule of distribution, he agrees that no account is
necessary and he does hereby agree that he does 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.
THEREFORE, he does hereby remise, release, quitclaim and forever discharge
the said personal representative, William J. King, her heirs, executors, administrators
and assigned, of and from the said estate and from all actions, suits, payments,
accounts, reckonings, claims, and demands whatsoever for or by reason thereof, or for
any other use, matter, cause or thing whatsoever, touching upon the Estate of the said
decedent, and he does further hereby covenant and agree that should any liability come
clue to the estate of the said decedent after the signing of this Agreement, he does
hereby covenant and agree with the aforesaid personal representative, that he will
satisfy any and all claims, demands, suits or causes of action which may be
successfully prosecuted against the said Estate or the aforesaid personal representative
after the signing, sealing and delivery of this Family Settlement Agreement and Final
Release.
IN WITNESS WHEREOF, he has hereunto set his hand and seal the day and
year noted below.
O w
Date Wit ess s ~ William J. King
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
NOTICE OF INHERITANCE TAX
BUREAU 01= INDIVIDUAL TAXES ApPRAISEMENT, ALLOWANCE OR DISALLOWANCE
INHERITANCE TAX DIVISION
PO BOX 280601 OF DEDUCTIONS AND ASSESSMENT OF TAX
HARRISBURG PA 17128-0601 REV-1547 EX AFP (06-05)
DATE 12-15-2008
ESTATE OF KING ELIZABETH F
DATE OF DEATH 07-09-2008
FILE NUMBER 21 08-0800
COUNTY CUMBERLAND
IRON TURD ACN 101
TURD LAW OFCS APPEAL DATE: 02-13-2009
28 S P ITT ST (See revevse side under Objections)
CARLISLE PA 17013 Amount Remitted
MAKE CHECK PAYABLE AND REMIT PAYMENT T0:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
CUT ALCING THIS LINE
----------------------- ~) RETAIN LOWER PORTION FOR YOUR RECORDS ~
--------------------------------
REV-15417 EX AFP C03-051 ------------------------------------
NOTICE OF INHERITANCE TAX ApPRAISEMENT, ALLOWANCE OR
DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
ESTATE OF KING ELIZABETH F FILE N0. 21 08-0800 ACN 101 DATE 12-15-2008
TAX RETURN WAS: C X) ACCEPTED AS FILED C ) CHANGED
RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE
APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN
1. Real Estate (Schedule A) (1) .00 NOTE: To insure proper
2. Stocks and Bonds (Schedule B) (2) .00 credit to your account,
3.
Closely Held Stock/Partnership Interest (Schedule C)
C3) submit
.00 the upper portion
of thi s form with your
4. Mortgages/Notes Receivable (Schedule D) C4) .00 tax pa yment.
5. Cash/Bank Deposits/Misc. Personal Property (Schedule E) (5) 16,479.83
6. Jointly Owned Property (Schedule F) (6) .00
7. Transfers (Schedule G) (7) .00
8. Total Assets (B) 16,479.83
APPROVED DEDUCTIONS AND EXEMPTIONS:
6,449.96
9. Funeral Expenses/Adm. Costs/Misc. Expenses (Schedule H) (9)
10. Debts/Mortgage Liabilities/Liens (Schedule I) ( 10) 1.44 0.8 0
11. Total Deductions (11) 7.890.76
12. Net Value of Tax Return (12) 8,589.07
13. Charitable/Governmental Bequests; Non-elected 9113 Trust s (Sc hedule J) (13) .00
14. Net Value of Estate Subject to Tax (14) 8,589.07
NOTE: If an assessment was issued previously, lines 14, 15 and/or 16, 17, 18 and 19 will
reflect figures that include the total of ALL retu rns assessed to date.
ASSESSMENT OF TAX:
15. Amount of Line 14 at Spousal rate (15) .00 X 00 _ .00
16. Amount of Line 14 taxable at Lineal/Class A rate C16) 8,589.07 X 045 _ 386.51
17. Amount of Line 14 at Sibling rate (17) .00 X 12 _ .00
18. Amount of Line 14 taxable at Collateral/Class B rate (18) .00 X 15 _ .00
19. Principal Tax Due (19)= 386.51
TAY rQG'nTTC.
PAYMENT
DATE RECEIPT
NUMBER DISCOUNT C+)
INTEREST/PEN PAID (-)
AMOUNT PAID
09-08-2008 CD010239 19.33 367.18
EXHIBIT TOTAL TAX CREDIT 386.51
'~ n ~~ BALANCE OF TAX DUE , 00
µ INTEREST AND PEN. .00
TOTAL DUE .00
IF PAID AFTER DATE INDICATED, SEE REVERSE C IF TOTAL DUE IS LESS THAN S1, NO PAYMENT IS REQUIRED.
FOR G4LCULATION OF ADDITIONAL INTEREST. IF TOTAL DUE IS REFLECTED AS A "CREDIT" (CR), YOU MAY BE DUE
A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRLICTTONS )
--.I REV-1500 15056041147
EX (06-05) OFFICIAL USE ONLY
PA Department of Revenue County Code Year File Number
Bureau of Individual Taxes INHERITANCE TAX RETURN
PO BOX280601 21 0 8 0 0 8 0 0
Harrisburg, PA 17128-0601 t RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death Date of Birth
203058593 07092008 07181917
Decedent's Last Name Suffix Decedent's First Name MI
KING ELIZABETH F
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name MI
Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL_ IN APPROPRIATE OVALS BELOW
® 1. Original Return ^ 2. Supplemental Return ^ 3. Remainder Return (date of death
prior to 12-13-82)
4. Limited Estate qa Future Interest Compromise ^ 5. Federal Estate Tax Return Required
^ ^ (date of death after 12-12-82)
B Decedent Died Testate ^ ~ Decedent Maintained a Living Trust Q 8. Total Number of Safe Deposit Boxes
® (Attach Copy of Will) (Attach Copy of Trust)
^ 9. Litigation Proceeds Received ^ 10 between 12-31 91 a d't;di tgesjf death ^ 11. Election to tax under Sec. 9113(A)
(Attach Sch. O)
CORRESPONDENT -THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
R.ON TURD 7172459688
Firm Name (If Applicable)
T'URO LAW OFFICES . REGISTER OF WILLS USE ONLY
First line of address
-_..,
2' 8 S . PITT ST .
Second line of address
DATE FILED
City or Post Office State ZIP Code `.; ~-~ ~
CARLISLE PA 17013 ~~~ ~ !''-'`
~~ ~ i-~~~
Correspondent's a-mail address: x"
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief,
it is true, correct and complete. Declaration of preparer other than the personal representative Is based on all information of which preparer has any knowledge.
SIGNATURE OF P SON RESPONSIBLE FOR FILING RETURN DATE
~" i ,qo. /~ ~ _ . ~ William J. King ~ ~,~„~,w ~~y ~
ADDRESS ~ '' `
;t81 orth 19th Street, Cam ill, PA 17011
SIGN UR F R OTHER ~ EPRESEN E ~A
/f Ron Turo /~ 1-S ~(~~
28 S. Pitt St., Carlisle, PA 17013
Side 1
L~ 15056041147 15056041147
REV-1500 EX
15056042148
~ecedenrsName KING, ELIZABETH F
RECAPITULATION
1. Real Estate (Schedule A) .... ................................................................................... 1.
2. Stocks and Bonds (Schedule B) ............................................................................... 2.
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C).......... 3.
4. Mortgages & Notes Receivable (Schedule D) .......................................................... 4.
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ................ 5.
6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested ............. 6.
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G) ^ Separate Billing Requested ............. 7.
8. Total Gross Assets (total Lines 1-7)...... ........................................................ g.
9. Funeral Expenses & Administrative Costs (Schedule H) ......................................... 9.
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) ............................... . 10.
11. Total Deductions (total Lines 9 & 10) ..................................................................... . 11.
12. Net Value of Estate (Line 8 minus Line 11) ............................................................ . 12.
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made (Schedule J) ................................................. 13.
14. Net Value Subject to Tax (Line 12 minus Line 13) ................................................ . 14
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 .00 15.
16. Amount of Line 14 taxable
at lineal rate X .045 8, 5 8 9 0 7 16.
17. Amount of Line 14 taxable
at sibling rate X .12 17.
18. Amount of Line 14 taxable
at collateral rate X .15 18.
19. Tax Due.. .................. .............. ...................................................................... . 19.
Decedent's Social Security Number
203058593
16,479.83
16,479.83
6,449.96
1,440.80
7,890.76
8,589.07
8,589.07
386.51
386.51
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT.
Side 2
L_ 15056042148 15056042148
REV-1500 EX Page 3
Decedent's Complete Address:
File Number 21 - 08 - 00800
King, Elizabeth F
- _ __ __ __
STREET ADDRESS
381 North 19th Street
CITY
Camp Hill
- __
'STATE ZIP
PA 17011
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. CreditslPayments
A. Spousal Poverty Credit
B Prior Payments __
C Discount 19.33
Total Credits (A + B + C)
3. Interest/Penalty if applicable
p. Interest
E. Penalty
__-__ ___
Total Interest/Penalty (D + E)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Check 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.
g. Enter the total of Line 5 + 5A. This is the BALANCE DUE.
(1) 386.51
(2) 19.33
(3) 0.00
(4)
(5) 367.18
(5A)
(5B) 367.18
Make Check Payable to: REGISTER OF WILLS, 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;...._ ............................................_............................_ ~ i '~ x_
b. retain the right to dreysignate who shall use the property transferred or its income :.......:..........:................. ~ _; ~ x
c. retain a reversions interest; or ................. ........... ~, '; x I
d. receive the promise for life of either payments, benefits or care? ......................................._.__....__........ i I I x
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without
receiving adequate consideration? ..............................._................................__.................................................. L- ' x
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death?......... ', ~
~x
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation?.......... ...................... ....................................................._..................... ~ -- I x I
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. §9116 (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.
Fur 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 the use of a
n;3turai parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. §9116 (a) (1.2)].
Tihe 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,
e:ccept 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.
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
COMMONWEALTH DF RENNSYLVANIA ~ PERSONAL PROPERTY
INHERITANCE TAX RETURN '~
RESIDENT DECEDENT
_ ____
FILE NUMBER
ESTATE OF King, Elizabeth F 21 - 08 - 00800
Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of
survivorship must be disclosed on schedule F.
ITEM DESCRIPTION VALUE AT DATE OF
NUMBER DEATH
1 Diocese of Harrisburg -Savings Acct.., JTen w/ William J. King - 50°/D Interest 14,061.20
2 Sovereign Bank Checking Acct. No. 1051069564 Jt w/ William J. King - 50% Int. 2,418.63
__ __
_ -
TGTAL (Also enter on Line 5, Recapitulation) 16,479.83
SCHEDULE H
FUNERAL D(PENSES 8~
COMMONWEALTH OF PENNSYLVANIA ~+ ~/~ ~+^~+~+ I
INHERITANCE TAX RETURN ~~INIJT I~1~E l~W 1 J
RESIDENT DECEDENT ~,
_ --- ___ - _ _I FILE NUMBER
ESTATE OF King, Elizabeth F ! _ 21 - 08 - 00800
Debts of decedent must be reported on Schedule I.
ITEM
NUMBEf2 'FUNERAL EXPENSES: DESCRIPTION AMOUNT
A. 1 'Neill Funeral Home, Inc. 4,882.37
B. 'ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
Social Security Number(s) / EIN Number of Personal Representative(s):
Street Address
', City State Zip
Year(s) Commission paid
2 Attorney s Fees Turo Law Offices
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 Register of Wills
Cumberland Law Journal
5. Accountant's Fees
6. Tax Return Preparer's Fees
7. I Other Administrative Costs
1 Custom Graphic Technologies, Inc. -Cards & Envelopes
500.00
141.00
75.00
166.60
684.99
- __
-- -_-
TOTAL (Also enter on line 9, Recapitulation) 6,449.96
SCHEDULEI
DEBTS OF DECEDENT, MORTGAGE
COMMONWEALTH OE PENNSYLVANIA LIABILITIES, & LIENS
INHERITANCE TAX RETURN
RESIDENT DECEDENT
_-_.
FILE NUMBER
ESTATE OF King, Elizabeth F '' 21 - os - oosoo
Include unreimbursed medical expenses.
ITEM _ __
NUMBER
1 West Shore EMS - ALS
2 Borough of Camp Hill -Sewer Service
3 Verizon
4 Michael Longenecker -lawn care
`.i UGI
Ei Pennsylvania American Water Co.
_ --_ - __
- _ - ___ __
TOTAL (Also enter on Line 10, Recapitulation] 1,440.80
REV-t5t3 EX+(9-00(
v SCHEDULE)
COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE C)F King, Elizabeth F 'FILE NUMBER
21 - 08 - 00800
RELATIONSHIP TO SHARE OF ESTATE AMOUNT OF ESTATE
NUMBEF: NAME AND ADDRESS OF PERSON(S) ', DECEDENT (Words) ($$$)
RECEIVING PROPERTY Do Not fist Trustee(s)
___
I. 'TAXABLE DISTRIBUTIONS [include outright spousal ',
distnbubons, and transfers
under Sec. 9116 (a) (1.2)]
1 William J. King 'Son 'All 16,479.83
381 N. 19th Street
Camp Hill, PA 17011
~,
Enter dollar amounts for distributions shown above on lines 15 through 18, as appropriate, on Rev 1500 cover sheet
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 I
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET 0.00
EXHIBIT "B"
GROSS ESTATE NET OF TAX
I IARII ITIF~
$ 16,112.65
A. Neill Funeral Home, Inc. $ 4,882.37
B. Turo Law Offices 500.00
C. Register of Wills 141.00
D. Cumberland Law Journal 75.00
E. The Sentinel -Legal 166.60
F. Custom Graphic Technologies, Inc. 684.99
G. West Shore EMS - ALS 842.95
H. Borough of Camp Hill -Sewer Service 52.50
I. Verizon 24.32
J. Michael Longenecker -Lawn Care 50.00
K. UGI 50.06
L. Pennsylvania American Water Co. 420.97
TOTAL LIABILITIES $ 7,890.76
AMOUNT REMAINING TO BE DISTRIBUTED $ 8,221.89
DISTRIBUTIONS:
William J. King $ 8,221.89
TOTAL DISTRIBUTIONS $ 8,221.89