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HomeMy WebLinkAbout01-05-09 (2)LAW OFFICES BERNETICH, HATZELL &PASCU, LLC JOHN D. BERNETICH JR. JAMES L. HATZELL* PAUL PASCU MEMBERS OF N.J. AND PA. BARS ALSO MEMBER OF FL. BAR 2 KINGS HIGHWAY WEST, SUITE 101 HADDONFIELD, NEW JERSEY 08033 TELEPHONE: (856) 795-3535 FACSIMILE: 1856) 795-3322 WEBSITE: WW'W.ESTATEPLANLAWYER.COM E-MAIL: JHATZELL@ESTATEPLANLAWYER.COM January 2, 2009 Cumberland County Register of Wills 1 Courthouse Square Carlisle, PA 17013 RE: ELEANOR D. MCKENDRY; DATE OF DEATH DECEMBER 20, 2008 Dear Sir or Madam: Enclosed please find the following: 1. Last Will and Testament of Eleanor D. McKendry 2. Estate Information Sheet ;. Petition for Probate and Grant of Letters 4. Death Certificate 5. Check in the amount of $480.00 Also please note that the Personal Representative is requesting a Commission to take Oath in Burlington County New Jersey. The Office is located at 49 Rancocas Road, Room 102, Mount Holly, New Jersey 08060. The Probate Clerk who will administer the Oath is Christine Lamb. If you have any questions concerning this matter, please contact me. Sincerely, Enclosures c: Carolyn J. McKendry Bernetich, Hatzell & Pascu, LL.C BY~ James` at 11 OCAL REGISTRAR'S CERTIFICATION IOF DEATH WARNING: It is illegal to duplicate this copy by photostat or photograph. !~~c f1Tr thi~> certifiratr, 5(T.OO rrr"'%"' ~ ~ This i~• ttT certify that the informltion hire gi~ren i~ /,,,I~,P~ZH (lF pfiy~ rc~rlccll~~ r(~pied i'r(~n~ an (>r)glnal C~ttiirirate o~F Death ~~c'~~~~~ ~~r-~ duly tiled ~~~ith me as 1_u~al Rey (su-ar. "The ori~ainal I~~ ~ - ` ~~ rel~tilicate ~~iil he fr>r~~~arde(1 tr the State Vital. !~°' _~' ~a; Re~urds Oifi~c liar pc:l-manent filing. 4dl - FAQ- _ ... ~ ~~ ~} ,,,„~ ~ (,~ ~` .r ~~,,,,Y Date l,~stled Certificatir>n i~umhc•r ~="- L,~cal Rc;ri,tilrnr r ~ ~ -~ c=am "'~7 _ ~ ~.a -- _7 ' _`~n ._ 1 ;?) t - t _ _ -: ,. ~,' T _ , _ _,~ _. ~ = r } "-~ , REV uzu3c COMMONWEALTH OF PENNSYLVANIA • DEPARTMENT OF HEALTH • VITAL RECORDS G ti ur"gleiii" CERTIFICATE OF DEATH CK INK See instructions and exam les on reverse P ~ STATE FILE NUMBER r t. Name d Deceoere (F+rd. mbtlie. last, suMlx) 2. Sax 7. Social Security Number 4. Dale of Deam (Mmm, day. year) 2008 0 December 20 , nor D. McKendr Female 199 - 14 -:132 5 Age (last BinMayl Under I year Under 1 day 6. Data of BiM (Monm, day, year) 7. &n ace (City aM siaN or loreign caxdry) Ba. Place d Death (Check ditty one) Abnlru bdfs 4wrs Nmures HOSplal'. Dmel'. 82 Yrs February 20, 1926 ilkes-Barre, Pennsylvania ICIInDallenl ^EfllOulpabenl ^DOA ^Nursiny Home ^Rasaenc0 ^Dlner $peniy W So County d Deam & City, Eao, Twp. d Death g. Was Decedent d Hispar IC QigmT ~NO ~ Yes 10. Race' Amer'ICan Y+dan Black. Wnlia, ek Bd. F2Cady Name (g not nsUlutbn, glue svea and number) Cumberland East Pennsboro 01 yes, speciy Cuban, ISPetrM White Holy Spirit Hospital IAexaan. Puerto Reran. ,dc) 11 Dece4nl s Usual Ccc torn IKUq of work done d,m mo,l of wwbn life. Do n01 dale retired 12. Was Detected ever in me 13. Decedenl'S Educatan ISpeciry Dory nlghesl grade comphted) 14. ManWl galas'. Merited Never Mamed. 15 Sumving Spouse III wile, give naiden name) Drvorceo (specryl W+~~ Kind of Wwk ttmd d Business t U+aistry ~ U. S. Armed Forces? Elementary 7 SecoMary (OI21 Cdlege (I ~4 or 5,) Widowed S ^rea No 4 Is oecedenfaMa4mgAbbessc~reel cAydown,aNh tit,edae) Detedenra Drdoeceded Lower Allen Stale PA Uve ro a t 7c ~ Yes DacedaM Uva1 in Twp Atl l Res+den e I7a 5225 Wilson Lane . ua u T°wn~''°' 17d C] Nn.oaJadam~ixadwnnin l y c m berland C A 17055 oa y n. um ,~wal umasa cnyr BCro 1B Father's Name {First. mores Nsl, suPox) 19. Mdhei s Name (fiKl, mldtlle, maiden sumarre) Gertrude Wendel Thomas Dennis 20a InWmanfs Name (Type I PrmU 206. InlomrarrYs Maikn9 Address (SIr6e1, dry / town, style, :p cotls PA 17055 259 Acorn Cou(t Mechanicsburg Dennis McKend , 21a Method of Disposnan i [] Gemation [] Donation 216. Date d Dislasilron (MOMh, day, year) 21c. Plxe of Dispositan (Name of cemetery, crematory a atlrer Plata) 21 d. Catalan (City i lawn, stale, tip cads) ,~ Band ~ Removal ham stale I Was Cremation or Donation AWhaized Whitemarsh Memorial Park Ambler, PA 1 9002 ~~ ^ Diner ~ Spn:rry: (6Y Medkal Esaminar I CoronerT ^Yes December 26, 2008 ~ 22a. Sgnawro A Funeral 5eryr~ Lke)tsee la rson actmG as such) ( 22b. License Number 22c. Name am Address d FaclYly 37 East Main Street Mechanicsburg, PA 17055 I - ~~' - 12662-L nc. Myers Funeral Home, Complete Hems 23a< oNy wean tedrykg Ta eta ball my ktwwledge, deatn acwted at ma irate, dale and Dhca stated. ISgnawre and site) 230. lkense Num6el 23c. Data sgned IMmm, day. yearj pnyaaan is Mi dvd4ade al bins d Beam 10 Gerdy cause d Beam sm t b Nl tl b 2 26 2/. Tune of Deam 25. DaN Pr aed Dead (Morin, day, year) 26 Was Case Relerled ro Medal Exaraner r Carmer hr a Reasm Omer man Cremaum or DmalanT mus e Canp y per (lams 1 e h r1 ` • ~ f~ c OD D ^Yas ~40 wow prwauw-es deat .0,x7 M p ece r ~1/ CAUSE OF DEATH (Sae Inetrudlone endl examples) r Approxaale hlenal: Pan It. Eruer amar am011K3B1 corrdilans convauma Jegp,3lp, 217. Dq Ta6aan the CmvarM h Deam? ~ Item 27 Pan r. Enter me g6dal-L.llYLllla - daaases, Inyras a canpkcabans -mat daeclly caused tits dealfi. DO NOT ede( lermmel events such as c'ardac rarest, I Onsal to Deam dA not resubmg n me wrderlprp cause pvm a Pan I. ~ Yes ~ PrcOably Wry arrest. « vedrauW tiprghian wilnoui stowing me eticbgy. tort ody me cause on each line i raspu a ~7i, ~ Unknown /~ F t~ • ~ • A rrah: 29 F ~ t k --_ ~~ ,~n 1 i ' ~~~\ r pSEdeaN)°iseasea ` xl~iESSCIb •e~ Q r~VKiA I~IYC.• a -~ ` . a ~'N ant Nw aSl ear l r , Duero (a as a consequence d)-. D Y O preg w ^ Preynanl at Uma d deem Sequeaary bsl tmdlans, B any, b. ~ h b IM cause 6sled m kris a. ~ ^ Nor pregrwni, but preyed antra A2 days Due to (w as a wnsequence oQ: Eder Bye UNDERLYING CAUSE d deem Idsease Ot rlywy mat ialialed rite °- evm6 reaudrg u+ death) UST Due to (or as a wnsequence olj: ^ Not preyanl, C•A pregnant 43 tlaYS to 1 yem before deem d ^ Urarawn A pregnant wtdkn me past year . 30a Was an Awapsy 3W. Ware Autopsy Frdings 31 Manner of Deatn 32a. DaN d Iryury IMmm, day yearl 326. Describe How Inryry Occmetl 32c. PNCe d Injtay. Hone Farm, Street Factory, Oeae Bu4dxq. ea. lSpeciry) Pen°rmad? AvagabN Prior to Compleual d Cause of Dsam7 ~Nawial ^ Humiada Accidem [] Penrkng Invesbgalion 32d. Tune d Injury 32e. Iryury al W°MT 32f. a TranspaNlion Inj ry (Speciyl 32g. Lacalion d Injury (Brea, my r sown, 5lalel Yes ~NO ~ Yes ~ No ^ Could Not be Delaminad [] $ d ^Yes ^ No ^ Onva (Operaiw []Passenger C]Pedaaran wcv e M []rnner arty 33a Comfier Icncck weY are) 330. Sgnatwe aMJTrJ'e d Cato/r/~/ Q • Cettrlying D6YUCian IPnysalan ceNtyng cause of loam wnm, andher pliysiuan Ms pronounced death aixl completed Item 23) _ _ _ ~ e to tla cause(s) and manner as slaNd m o ttsd d ri t d k d 4 - y~' ii y(~ n A~ /~ • Q /// rrr ~ \.J~/ ~ ~ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ccu u te Ma n•y rrowN ge, r ea To deem era cemiya to cause d death) ronounnn sican Dom n lei Ph i M U i 33c. Lcense Nwraa 33d. DaN Signed (Mmlh, day. year) ^ g p g car rq Id ys en 1 y • Prorounc ng sr ry To dN Wal of my knowNdge, deem acurrad N the lime, date, and Dlace, aM due to the cauasls) erd manner as stmed_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ~ A O ~ ~ 1 1 ~ _ ~ s r] 1 l ~ Z • Z ~ - p g • WdKel Exemew amaorot On Ure Wals of a 'NINn and 1 a investigation, In my opinan, dealn occurted al Ins brae, dale, and place, and due l0 ma causats) and rMnror ea styled ^ :1/ Name era Addre of Person Who CmrpNled Cause d Deam (llem 271 Type / PrW L ~ O~~ ~ 35 R ,sv a ar0 n IL I~ I I~1 I~ 1 7 Date Filed (Mmm. day earl ~ ~L z~ '8 / ~ ~ ~ Ei'113 F•Tr xeA(e )o- . . - ju L~M{~r o , D+eposnronPelrnltNn ~~y irb~ LAST WILL AND TESTAMENT OF ELEANOR D. MCKENDR.Y t~-a t^-~ '"' `;"" -r} r~ ~~ r ~ l i =_~ ` '-~ -- .,_ ~ -. _-_, ' = :~ ;,.: ~~z -, ---, ~- : - _.. _ , --,="j •• J ,,., ~;;, I, ELEANOR D. MCKENDRY, now of 107 Jefferson Avenue, Stratford, New Jersey 08084, declare this to be my Last Will and Testament anal hereby revoke any and all other Wills and Codicils previously made by me. ARTICLE I PAYMENT OF EXPENSES AND DEBTS I direct my Personal Representative to pay my funer;~l expenses, the expenses of my last illness, my administrative expenses, and all of my just debts, except for the payment of any debt secured by a mortgage or similar encumbrance on real prope-rty owned by me at my death. ARTICLE II SPECIFIC BEQUESTS (A) Personal Effects. I give all clothing, jewelry, household goods, personal effects, automobiles, and all other tangible personal property (not including cash on hand or on deposit) owned by me at the time of my death as follows: (1) I may dispose of certain items of my tangible personal property by a Kulzer & DiPadova A Professional Corporation 76 Euclid Avenue Haddonfield, NJ OR033 separate written statement prepared pursuant to New Jersey law. I direct that my Personal { Representative honor the dispositions set forth in any such statement. I give the remainder of my ~ tangible personal property, or, if I have not prepared a separate written statement then I give all ~ of my tangible personal property as described below. (2) If my husband, GEORGE W. MCKENDRY, survives me, then I give him all of my tangible personal property. (3) If my husband, GEORGE W. MCKENDRY, does not survive me, then I give all of my tangible personal property to my children, TIENNIS G. MCKENDRY and CAROLYN J. MCKENDRY to be divided between them as they may agree, of if they fail to agree then in equal shares. (4) I direct that any expenses incurred in safeguarding and delivering such property to be paid from my estate as administration expenses thereof. (B) Life Insurance. If I predecease my husband, GE;ORGE W. MCKENDRY, and at the time of my death I am the owner of any life insurance policy or policies on his life, then I give and bequeath to my said husband all of my rights in and to any such life insurance policies. However, if my said husband should disclaim any said policy., then I give such policy to my children, in equal shares as tenants in common. ARTICLE III RESIDUE I give all the residue of my estate, real and personal, to m:~ Trustee, to hold and distribute, along with any other assets which maybe added hereto, as follows: (A) If my husband, GEORGE W. MCKENDRY, survives me: (1) Marital Gift. If my husband, GEORGE w. MCKENDRY, survives me, Kulzer & DiPadova .4 Professional Coiporadon 76 Euclid Avenue Haddonfield, NJ OR033 then my Trustee shall set aside an amount, (hereinafter called_ the "Marital Gift" as defined below). Said Marital Gift shall be distributed outright and free of trust to my husband, GEORGE W. MCKENDRY. (2) Notwithstanding the above provisions, if' my husband, GEORGE W. MCKENDRY, so chooses, then any asset which may be allocable to or otherwise distributable under this Marital Gift may be disclaimed, and such asset or assets shall not pass to or under the 2 terms of the Marital Gift, but instead shall pass to and be distributed under the terms of the Disclaimer Trust below. (3) The balance of the residue of my estate shall be held in a separate trust (hereinafter referred to as the "By-Pass Trust") and distributed. for the benefit of my husband, GEORGE W. MCKENDRY, pursuant to the terms of the By-P'ass Trust, below. (B) After the death of my husband, or after my death. if my husband does not survive me, I give all the residue of my estate, real and personal, together with any amounts which may be added hereto from any other trust created under this Last Will and Testament, or elsewhere, (hereinafter the "Residue") to my Trustee. The Trustee shall divide the Residue into equal shares so that there will be one share for each of my children, DENNIS G. MCKENDRY and CAROLYN J. MCKENDRY, provided that the respective child is then-living or is survived by then-living issue. (1) If a child is then-living, such share shall bf~ distributed outright and free of trust to such child. (2) If a child is not then-living but is survived by then-living issue, then such share shall be further divided into equal shares, per stirpes and :>uch share shall be held in trust for such child's then-living issue pursuant to the terms of the Descendant's Trust, below. (3) If no child of mine nor any issue of any deceased child of mine are then Kinzer & DiPadova .4 Professional Cocporarion 76 Euclid Avenue Haddonfield, NJ OR033 living, the Trustee shall distribute any remaining amount as follows: (a) Fifty (50%) percent to my heirs as if I had died unmarried and intestate under the laws of the State of New Jersey; (b) Fifty (50%) percent to the heirs of my husband as if he had died unmarried and intestate under the laws of the State of New Jersey, 3 ARTICLE IV DISCLAIMER TRUST Any amounts passing to this trust (hereinafter referred to as the "Disclaimer Trust") shall be held, managed and invested as a separate trust, and shall be distributed as follows: (A) The Trustee shall pay all of the income from the Disclaimer Trust in convenient installments, but not less frequently than quarter-annually, to my husband, GEORGE W. MCKENDRY, during his lifetime. (B) In addition, the Trustee shall pay, from the principal of this Disclaimer Trust, to or for the benefit of my husband, such amounts as shall be necessary from time to time for his medical care, maintenance and support in reasonable comfort, taking into consideration other resources available to him for such purposes from all sources known to the Trustee. (1) To the extent that any qualified retirement plan or individual retirement account (IRA) benefits are payable to this Disclaimer Trust for the benefit of my husband, GEORGE W. MCKENDRY, I hereby identify my husband, GEORGE W. MCKENDRY, in accordance with Proposed Treasury Regulation Section 1.401(a)(9)-1, D-5, as the designated beneficiary with respect to the Disclaimer Trust's interest in benefits payable to the Trustee hereof from such qualified retirement plan or IRA. (2) Upon the death of my husband, any balance remaining in this Disclaimer Kulzer & DiPadova A Pro kssional Corporation 76 Euclid Avenue Haddonfield, NJ OR033 Trust shall be kept as a separate trust and shall be distributed pursuant to the terms of Article III, above. ARTICLE V BY-PASS TRUST (A) Any amounts passing to this trust (hereinafter referred to as the "By-Pass Trust"} shall be held, managed and invested as a separate trust, and shall be distributed as follows: 4 (1) The Trustee shall pay all of the income from this By-Pass Trust in convenient installments, but not less frequently than quarter-annually, to husband, GEORGE W. MCKENDRY, during his lifetime. (2) In addition, the Trustee shall, from time to time, pay to or for the benefit of my husband, GEORGE W. MCKENDRY, as much of the principal as is necessary for his health, maintenance, and support in reasonable comfort. In making such payments, Trustee may take into account his income from other sources and personal assets. Any such payments may be made either to him or applied directly for his benefit. (3) In addition, my husband, GEORGE W. MCKENDRY, shall have the right in each calendar year to withdraw from the principal of this By-Pass Trust up to five thousand ($5,000.00) dollars at any time and, in addition, if he is living on December 31 of a year, to withdraw up to five (5%) percent of the fair market value of such principal determined on December 31 of that year; the amount subject to withdrawal as of December 31 shall be ~ reduced by any prior withdrawals under this subparagraph during that year, and any such rights of withdrawal for a particular year shall lapse if not exercised during that year. (B) After the death of my husband, GEORGE W. MCKENDRY, the balance remaining in this By-Pass trust shall be distributed pursuant to Article III(B), above. (C) During his lifetime, my husband, GEORGE W. MCKENDRY, shall have the Kulzer & DiPadova A Professional Corporation 76 Euclid Avenue Haddonfield, NJ OR033 power at any time and from time to time to appoint as much, or all, of the principal of this By- ~ Pass Trust to my issue, or any of them, in whatever proportions rie may designate, provided that this special power of appointment is not exercisable to the extent it would relieve my husband of ~ any obligation of support or to any other extent which would cause inclusion of this By-Pass ~ Trust in my husband's estate for tax purposes. 5 (D) Notwithstanding the above provisions, my husband, GEORGE W. MC.KENDRY, shall have the right in his Last Will and Testament, and by specific reference to this special power of appointment, to direct the distribution of the balance, if any, of this By-Pass Trust remaining at the time of his death, in such proportions and either outright or in trust as herein provided, as he shall direct, but only to my children and their issue, or any of them. (E) My husband, while acting as fiduciary hereunder shall not have any powers which would cause inclusion of this By-Pass Trust in his gross estate for tax purposes. ARTICLE VI DESCENDANT'S TRUST Any trust established pursuant to Article III that is managed according to the terms of this Article (hereinafter referred to as the "Descendant's Trust") shall be held, managed, invested and distributed as follows: (A) So long as any of the beneficiaries of this Trust are under age Twenty-Two (22): (1) As much of the net income and principal as Trustee may from time to time think desirable shall be paid to or for the benefit of such one or more of my beneficiaries in such amounts or proportions as Trustee may from time to time think appropriate. (2) Any net income not so distributed shall be; accumulated and from time to time and added to principal. (B) Once the youngest beneficiary of a trust established pursuant to Article III that is Kulzer & DiPadova .4 Professional Corporation 7ti Euclid Avenue Haddonfield, N1 08033 managed according to the terms of this Article attains the age of Twenty-Two (22) or upon the funding of such trust if all of the beneficiaries have already attainf;d Twenty-Two (22): (1) The net income from each share shall be paid in convenient installments, but at least quarter-annually, to or for the benefit of such beneficiary. 6 (2) In addition to the payment of income, the Trustee shall pay to or apply for the benefit of such beneficiary such sums from the principal of such beneficiary's share as the Trustee considers necessary or desirable from time to time for the medical care, support, maintenance, and education (including, but not limited to, college and postgraduate education) of such beneficiary, taking into consideration all other income available to such beneficiary for such purposes from all sources known to the Trustee. It is my intention that this Trust shall not constitute a disincentive for a beneficiary to be a productive citizen. However, for purposes of distribution under this paragraph, the word "maintenance" shall lie deemed to include reasonable needs in the Trustee's discretion for investment in a business, initiation of a professional practice, the purchase of a home, or other similar financial needs in the Trustee's discretion. (C) When a beneficiary reaches the age of Twenty-Eight (28) years, or upon the Kulzer & DiPadova .4 Professional Co~pora~ion 7G Euclid Avenue Haddonfield, NJ OR033 setting up of this share if such beneficiary has then reached such age, such beneficiary shall have the right to withdraw up to thirty-three (33%) percent in value of the principal of such beneficiary's share then held thereunder; when a beneficiary of amine reaches the age of Thirty- Three (33) years, or upon the setting up of this share if such beneficiary has then reached such age, such beneficiary shall have the right to withdraw up to fifty (SO%) percent in value of the principal of such beneficiary's share then held thereunder; an~~ when a beneficiary of mine reaches the age of Thirty-Eight (38) years, or upon the setting up of this share if such beneficiary has then reached such age, such beneficiary shall have the right to withdraw the entire balance of such beneficiary's share. The amount subject to withdrawal before a beneficiary reaches the age for withdrawal of the entire balance shall be based on the marke-t value of the principal of that beneficiary's share at the time of such beneficiary's first request. after reaching each particular age. 7 (D) In the event of the death of a beneficiary of mine prior to complete distribution of such beneficiary's share, or at the time such share is created if such beneficiary is not then living, then such share shall be distributed pursuant to Article III(B), above. ARTICLE VII DEFINITION OF MARITAL GIFT The Marital Gift is that amount, if any, equal to the minimum amount necessary to reduce the federal estate tax to zero, or as close thereto as possible, b.~ utilizing the marital deduction available under the federal estate tax law in effect at the time of my death, but only after taking into account all credits for federal estate tax purposes available to my estate and all other assets which pass to my husband under this Will or otherwise and which qualify for the marital deduction. Notwithstanding the foregoing provision, any crediit for state death taxes shall be taken into account only to the extent that state death taxes are not increased thereby. It is intended that this Marital Gift shall be treated as a pecuniary bequest. All assets Kulzer & DiPadova .4 Professional Corporation 76 Euclid Avenue Haddonfield, NJ OR033 distributed under this Marital Gift shall be assets which qualify for the marital deduction under Federal estate tax law and shall be valued as of the date or dates l~f distribution of such assets. It is my intention that this Marital Gift shall qualify for the federal estate tax marital deduction and I direct that all provisions of this Will shall be construed and applied in a manner that will not impair the qualification of this Marital Gift for marital deduction purposes under the Internal Revenue Code of 1985, as amended (hereinafter referred to as the "Code"), and I further direct that insofar as any provisions of this Will may adversely affect the qualification of said Marital Gift for marital deduction purposes, such provisions shall be disregarded. 8 ARTICLE VIII SIMULTANEOUS DEATH For purposes of this Will, my husband shall be deemed to survive me if the order of our deaths is not clear. ARTICLE IX PROTECTIVE PROVISIONS The interests of the beneficiaries hereunder shall be free from anticipation, voluntary or involuntary alienation, assignment, pledge or obligation, and shall not be subject to attachment, execution or to other legal process. ARTICLE X MINORITY AND DISABILIT`~ Except as otherwise provided herein, if any income or p~~incipal becomes payable to any Ku(zer & DiPadova A Professional Corpora ion 76 Euclid Avenue Haddonfield, N1 Oft033 beneficiary who is a minor, or to a beneficiary who in the sole judgment of the Fiduciary responsible for making such distribution is legally incapacitated., then such amount shall vest in such beneficiary, but shall be held in a separate trust account for such beneficiary by the Trustee during such period of minority or incapacity; and the Trustee shall apply as much of the income and principal as the Trustee deems necessary for the health, maintenance, education, and support in reasonable comfort of said beneficiary. Such amounts maybe applied directly, or maybe paid to said beneficiary's guardian, to said beneficiary's custodian under a Uniform Transfer to Minor.'s Act, or similar applicable law of any state, or to any person or organization for the benefit of such minor or incapacitated beneficiary. Any income and principal not so expended or distributed by the Trustee shall be retained by the Trustee and paid to the beneficiary upon such beneficiary's attainment of the age of majority or upon termination of the incapacity, as the case maybe, or earlier if the Trustee deems it advisable. In the event the beneficiary dies while still a 9 minor or while still incapacitated, any principal and income remaining shall be paid over to such beneficiary's estate. For purposes of this Will, a person shall be deemed to be a "minor" so long as such person is under the age of twenty-one (21) years, any st~~tute now or hereafter in force to the contrary notwithstanding. ARTICLE XI FIDUCIARY'S POWERS My Fiduciaries shall have the following powers in addition to those vested in them by Kulzer & DiPadova A Professional Corporation 76 Euclid Avenue Haddonfield. N] OR033 law and by any provision of this Will, all of which shall be exercised in a fiduciary capacity for the best interests of the beneficiaries hereunder, and none of which may be applied in any manner which would cause disqualification of any marital deduction for tax purposes: (A) To retain any investment in their discretion, anti to make such investment and reinvestment and in such proportions, without regard to statutes limiting the property which the Fiduciary may purchase, as the appropriate fiduciary shall consider beneficial to my estate or to any trust established hereunder, as the case maybe; provided, however, in the event any property qualifying for the marital deduction for tax purposes shall be or become unproductive or under productive of income, the Fiduciary shall, at the written direction of my spouse, dispose of such property and invest the proceeds in property which shall be productive of a reasonable income. (B) To (1) participate in any merger or reorganization affecting securities held hereunder at any time; (2) deposit stocks under voting agreements; (3) exercise any option to subscribe for stocks, bonds or debentures; and (4) grant proxies,, discretionary or otherwise, to vote shares of stock. (C) To manage, operate, repair, alter or improve real estate or other property, and to lease real estate and other property upon such terms and for ~~uch period as the appropriate fiduciary may deem advisable. (D) To sell, and to grant options for the sale of, any real or personal property at public or private sale for such prices and upon such terms, including thc; granting of a purchase money mortgage or purchase money security interest for all or any portion of the purchase price, with or without subordination, as the appropriate fiduciary may think ~~roper, without liability on the purchasers to see to the application of the purchase money. (E) To borrow money from any source without liability on the part of the lenders to see to the application thereof. 10 (F) To register securities and other property held b5r the appropriate fiduciary in the name of a nominee or in bearer form. (G) To compromise claims by or against my estate or any trust established hereunder, without order of Court or consent of any beneficiary. (H) To make any distributions in cash or in kind. Kulzer & DiPadova A Professional Corporation 76 Euclid Avenue Haddonfield, NJ OR033 (I) The Fiduciary is authorized to employ attorneys, accountants, investment advisors, specialists and such other agents as the Fiduciary sh;~ll deem necessary or desirable. The Fiduciary shall have the authority to appoint an investment manager or managers to manage all or any part of the assets of the trust, and to delegate to said. manager investment discretion. Such appointment shall include power to acquire and dispose o:F such assets and to perform any act of administration, whether or not discretionary. The Fiduciary may charge the compensation of such attorneys, accountants, investment advisors, investment managers, specialists and other agents and any other expenses against the trust. (J) To execute and deliver all instruments of writing necessary or appropriate for the exercise of the appropriate fiduciary's powers. (K) I authorize my Personal Representative to exercise such options as may be available in determining and paying death taxes with respect, to my estate as my Personal Representative shall deem appropriate. (L) To join with my spouse or my spouse's estate in the filing of any Federal income tax return for any year for which I have not filed such return prior to my death, and to consent to any gifts made by my spouse as being made one-half by me for tax purposes; any income or gift tax due on such return and any deficiencies, penalties or refi~nds thereon shall be allocated between my estate and my spouse and my spouse's estate or to any of them in such manner as my Personal Representative may determine; and my Personal Representative may take such action even though it may result in additional liabilities for my estate. (M) After my spouse is not living, for convenience of administration and investment, (1) the Fiduciary is authorized to hold the several shares which rr~ay be established hereunder for any of my issue as a common fund, dividing the income proportionately among them, and, to assign undivided interests to the shares, and to make joint investments of the funds belonging to them; and (2) the Fiduciary may consolidate any such separate share with any other trust or trusts created by me or any member of my family by Will or otherwise. (N) If, after my spouse is not living, in the Fiduciary's discretion, it is impractical or uneconomical to administer any fund held hereunder as a trust, then the Fiduciary may, without further responsibility, pay the fund to the person, or to the legal representatives of said person, who is then entitled to receive income therefrom. (O) If an election to do so is provided by law, my Personal Representative may claim any expenses of administration of my estate as income tax or estate tax deductions, or partly for each, to the extent that in the discretion of said Personal Representative such action will achieve an ovf;rall reduction in the income taxes and inheritance, estate and other death taxes for the ~t benefit of my estate and of the beneficiaries thereof. I further direct that no compensating adjustments, as between income and principal accounts or in thf; amount to be distributed to any beneficiary, shall be required or made as a result of such actions. Kulzer & DiPadova A Professional Corporation 7G Euclid Avenue Haddonfield, NJ OR033 (P) To deal with the stock of any close corporation, any partnership, or any other business interests, hereunder, and in so dealing (1) to disregard any principle of investment diversification and to retain any part or all of such interest as long as necessary or appropriate; (2) to sell any part or all of such interest at such time or times, for such prices, to such persons (including persons who are fiduciaries or beneficiaries hereunder) and on such terms and conditions as may be desirable; (3) to do anything that may sef;m advisable with respect to the operation or liquidation of any such business or any change in the purpose, nature or structure of any such business; (4) to delegate authority to any director, stockholder, manager, agent, partner or employee, and to approve payment from the business of adequate compensation to any such person; (5) to borrow money from the banking department of any corporate fiduciary regardless of any rule of law with respect to conflict of interest; (6) to make additional investments in any such business if such action seems desirable for the best interests of the beneficiaries hereof; and, (7) in short, I intend that in making decisions hereunder, the Fiduciary shall have the same freedom of action that I now have. (Q) To allocate any portion of my exemption under Section 2631(a) of the Code to any property as to which I am the transferor, including property transferred by me during life to which I did not make an allocation before my death. In exercising this power, my Personal Representative shall not be required to treat different family branches in the same manner. (R) To divide property in any trust with an inclusion ratio (as defined in Section 2642(a)(1) of the Code) of neither one nor zero into two separate trusts representing two fractional shares, one with an inclusion ratio of one and the other with an inclusion ratio of zero. (S) In my fiduciaries discretion, to periodically inspect, review and monitor, or require the inspection, review and monitoring of any and all prof>erty held in my estate or in any trust created under my Will for the purpose of determining compliance with any law, rule or regulation affecting such property, and for all expenses of such inspection, review and monitoring to be paid from the income or principal of the trust or estate. (T) To take any and all action the Fiduciary shall reasonably deem necessary, in the Fiduciary's sole discretion, to prevent, abate, "clean up," or othf;rwise respond to any actual or threatened violation of any federal, state or local law, rule or ordinance affecting any property held in my estate or in any trust created under my Will related to the generation, use, treatment, storage, disposal, release, discharge, or contamination by any materials or substances that are prohibited or regulated by federal, state or local law or that are known to pose a hazard to the environment or human health. Such actions may be taken prior to the initiation of enforcement action by a federal, state or local agency. My Fiduciary shall obtain an estimate of the cost of such response to such violation or contamination and shall notify the beneficiaries of my estate or trust of the estimated costs of such response. Such beneficiaries shall have the right to pay for such response costs or to authorize payment of such costs by the Fiduciary from estate or trust assets. If the beneficiaries of my estate or trust for any reason fail to pay for or authorize payment of such costs from trust or estate assets, the Fiduciary shall nonetheless be entitled to 12 use trust or estate assets to pay such costs or, in the Fiduciary's sole discretion, to resign in accordance with the provisions herein regarding the resignation of a fiduciary. (U) To disclaim any power which, in the sole discretion of the Fiduciary, will or may cause the Fiduciary to be considered an "owner" or "operator" of property held in this Will, under the provisions of the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), as amended from time to time, or which shall otherwise cause the Fiduciary to incur liability under CERCLA or any other federal, state or local law, rule or regulation. The power to disclaim as contained in this section shall apply to any power, whether actually set forth in this Will instrument, incorporated by reference herein, or granted or implied by any statute or rule of law. ARTICLE XII DEATH TAXES (A) Except as provided in subparagraphs (2) and (31 below, all death taxes payable with respect to property passing under this Will shall be paid out of my residuary estate, without apportionment. (1) Pursuant to the provision of the Marital Trust hereof, my Personal Representative has been given the discretion to make or not to make the election provided for in Section 2056(b)(7) of the Internal Revenue Code of 1986, as amended, with respect to all or part of the Marital Trust. If the portion of the Marital Trust with respect to which such election was not made shall be subject to any death taxes, then any such taxes attributable to such portion shall be paid therefrom. (2) If the Disclaimer Trust is established pursuant to Article III, and if any Kulzer & DiPadova A Professional Corporation 76 Euclid Avenue Haddonfield. NJ OR033 portion of such Disclaimer Trust shall be subject to any death taxes, then any such taxes attributable to such portion shall be paid therefrom. (3) Pursuant to Article II hereof, certain property has been bequeathed to my husband, GEORGE W. MCKENDRY. If any such property shall be subject to death taxes, then any such taxes attributable to such property shall be paid therefrom. 13 (B) All death taxes payable with respect to property Massing other than under this Will and (i) included in my gross estate for Federal estate tax purposes by reason of Section 2035, 203Ei, 2037, 2038, 2039, 2040, 2041, 2042, 2043 and/or any other section of the Code, or (ii) subject to death taxes by reason of any applicable state, city or municipal law, shall be paid out of such property. (C) The death taxes attributable to the property referred in subparagraphs (2) and (3) of Paragraph (A) above shall be a pro rata portion of the total of such taxes payable by my estate with respect to property passing under this Will. (D) The death taxes attributable to the property referred to in paragraph (B) hereof shall be the amount by which the total of such taxes payable exceeds the total of such taxes which would have been payable had such property not been subjf;ct to death taxes, the same to be allocated among the various interests in such property pro rata. (E) When used in this Will, the term "death taxes" shall be deemed to include all taxes payable by reason of property passing upon my death, whether labeled estate taxes, inheritance taxes, death taxes, succession taxes, transfer taxes, or otherwise, and whether imposed by the federal government, any state, city or municipality, or otherwise, including interest and penalties thereon. (F) Nothing contained herein shall be deemed to be a direction that my estate not Kuizer & DiPadova A Professional Corporation 76 Euclid Avenue Haddonfield. NJ OR033 recover from the recipient of property included in my gross estate by reason of Section 2044 of the Code, the amount specified in Section 2207A of the Code. ARTICLE XIII APPOINTMENT OF PERSONAL REPRESENTATIVE I appoint my husband, GEORGE W. MCKENDRY as ;;ole Personal Representative of this my Last Will and Testament. In the event that GEORGE 'W. MCKENDRY shall fail to 14 serve for any reason, then I appoint CAROLYN J. MCKENDRY as sole Personal Representative of this my Last Will and Testament. In the event that CAROLYN J. MCKENDRY shall fail to serve for any reason, then I appoint DENNIS G. MCKENDRY as successor Personal Representative. ARTICLE XIV APPOINTMENT OF TRUSTEE I appoint my husband, GEORGE W. MCKENDRY as sole Trustee of this my Last Will and Testament. In the event that GEORGE W. MCKENDRY shall fail to serve for any reason, then I appoint CAROLYN J. MCKENDRY as sole Trustee of this my Last Will and Testament. In the event that CAROLYN J. MCKENDRY shall fail to serve for any reason, then I appoint DENNIS G. MCKENDRY as successor Trustee. ARTICLE XV WAIVER OF BOND I direct that any fiduciary acting hereunder shall not be required to enter bond or other security in any court or jurisdiction in which said fiduciary maybe called upon to act. ARTICLE XVI DEFINITIONS The term "Trustee," "Personal Representative," "Fiduciary," and any word used to Kulzer & DiPadova A Professional Corporation 76 Euclid Avenue Haddonfield, NJ OR033 indicate the Trustee, Personal Representative, or any other person or organization, shall be deemed to apply to the singular or plural and to the appropriate gender as the case maybe. IS IN WITNESS WHEREOF, I have hereunto set my hand and seal to this, my Last Will ~,t, and Testament, on this ~ <~ day of ~:~ ~ ~~"~-~~- i , 1999. ELEANOR D. MCKENDRY Kulzer & DiPadova A Professional Corporation 76 Euclid Avenue Haddonfield, NJ OR033 SIGNED, SEALED, PUBLISHED AND DECLARED by the above named Testatrix as and for her Last Will and Testament, in the presence of us, who, at her request, and in her presence and in the presence of each other, have hereunder subscribed our names as witnesses. N Ct ~hl~~5t~ ~ ~y`ol Address :/ Na e Add ss 16 I, ELEANOR D. MCKENDRY, the Testatrix, sign rrly name to this instrument this ~~ y t~..t --~ . 199, and being duly sworn, do -, ~ da of ~. C..c _~ hereby declare to the undersigned authority that I sign and execute this instrument as my Last Will and that I sign it willingly (or willingly direct another to sign for me), that I execute it as my free and voluntary act for the purposes therein expressed, and that I am eighteen years of age or older, of sound mind, and under no constraint or undue influence. r~ ~'. , _~_ ELEANOR D. MCI~ENDRY We, /{? 2~<< and ~ ' Q the witnesses, sign our names to this instrument, and, being duly worn, do hereby de are to the undersigned authority that she signs and executes this instrument as her last Will and that she signs it willingly (or willingly directs another to sign for her), and that each of us, in the presence and hearing of the Testatrix hereby signs this Will as witness to the Testatrix's signing, and that to the best of our knowledge the Testatrix is eighteen years of ag;e or older, of sound mind, and under no constraint or undue influence. W ESS /" ~~ ~1,~1~!~CJ • WIT ES STATE OF NEW JERSEY COUNTY OF CAMDEN Kulzer & DiPadova A Professional Corporation 76 Euclid Avenue Haddonfield, NJ 08033 Subscribed, sworn to and acknowledged before me by Eleanor D. McKendry, the Testatrix, and subscribed and sworn to before me by the above-named witnesses this ~~~ day of (' , 1999. ~l1'~ ~~~ 17