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HomeMy WebLinkAbout01-23-0915056041046 REV-1500 EX (05-04) flFFIC1AL 11SE ONLY PA Department of Revenue Coun Code Year File Number Bureau of Individual Taxes ~ h' Dept. 280601 INHERITANCE TAX RETURN Harrisburg, PA 17128-0601 RESIDENT DECEDENT 2 1 0 8 0 1 0 8 5 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death Date of Birth 1 0 2 7 2 0 0 8 0 5 1 :5 1 '9 3 3 Decedent's Last Name Suffix Decedent's First Name MI M a r i n a c c i S r L o u i s G (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 O 2. Supplemental Return O 3. Remainder Return (date of death prior to 12-13-82) O 4. Limited Estate O 4a. Future Interest Com romise date of p ( O 5. Federal Estate Tax Return Required death after 12-12-82) ~ 6. Decedent Died Testate O 7. Decedent Maintained a Living Trust ~ 8. Total Number of Safe Deposit Boxes (Attach Copy of Will) (Attach Copy of Trust) O 9. Litigation Proceeds Received O 10. Spousal Poverty Credit (date of death O 11. Election to tax under Sec. 9113(A) between 12-31-91 and 1-1-95) (Attach Sch. O) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephc~ Number ~ A n t h o n y L~ D e L u c a E s q u i `r e 7 1 7 2~~`-,-,- 8 6~ 4 {_~ ~ ;; Firm Name (If Applicable) t ~- ~ REGISTEfR ~F~N~S US LY '_. ~'j First line of address ~~~t _, ~; I_ CJ ~ ..p 1 1 3 F r o n t S t r e e t ~ ,~ - v °i Second line of address - -- _ ,; ~ P O B o x 3 5 8 C~ City or Post Office State ZIP Code DATE FILED B o i l i n g S p r'i n g s P A 1 7 0 0 7 Correspondent's a-mail address Under penalties of , I declare at I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, corre and mplete. De aration preparer other than the p al representative is based o information of which preparer has any knowledge. SIGNAT O Ef~N RES N L FOR FILING RETlJ.~2 /~ ~/ ~f / D•p/TE SIGNATURE OF P E ARER OTH N RE RE TIVE DATE '~ r ~ ~~(r~L~d~~~ f~~CL-~G~ ~ t~~?'C~Lt~f~ / ~i~/ ~© 9' ~• Y rNcf S+t~/~a.f Y.'r' /!'ice/. Side 1 15056041046 15056041046 J .J 15056042047 REV-1500 EX Decedent's Social Security Number Louis G. Marinacci, Sr." ' s Name: Decedent RECAPITULATION 1. Real estate (Schedule A) ............................................. 1. 2 8 8, 0 0 0. 0 0 2. Stocks and Bonds (Schedule B) ...................................... . 2. 1 0 0, 1 3 3 2 0 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) .... . 3. 0 0 0 4. 9 9 ( ) ............................ Mort a es & Notes Receivable Schedule D 4. . ~ 0 ~ 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ....... . 5. 4 3 , 5 6 4 7 2 6. Jointly Owned Property (Schedule F) O Separate Billing Requested ...... . 6. 1 3 2, 1 0 5 2 7 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property 0 • 0 0 (Schedule G) O Separate Billing Requested....... . 7. 8. Total Gross Assets (total Lines 1-7) ................................... . 8. 5 6 3, 8 0 3. 1 9 9. Funeral Expenses & Administrative Costs (Schedule H) .................... . 9. 4 3 , 6 4 3 • 5 8 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) ............... . 10. 2 , 7 $ 7 • 4 7 11. Total Deductions (total Lines 9 & 10) .................................. . 11. 4 6 , 4 3 1 . 0 5 12. Net Value of Estate (Line 8 minus Line 11) ............................. . 12. 5 1 7 , 3 7 2 1 4 13. Charitable and Governmental Bequests/Sec 9113 Trusts for evhich 0 • 0 0 an election to tax has not been made (Schedule J) ....................... . 13. 14. Net Value Subject to Tax (Line 12 minus Line 13) ....................... . 14. 5 1 '] , 3 7 ~ 1 4 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 .0_ • 15. • 16. Amount of Line 14 taxable at lineal rate x .o ~5 5 1 7, 3 7 2 1 4 16. 2 3, 2 8 1 -• 7 5 17. Amount of Line 14 taxable • 17 • at sibling rate X .12 . 18. Amount of Line 14 taxable ' 18 • at collateral rate X .15 . 19 2 3, 2 8 1 :. 7 5 19. TAX DUE ................... ................................... .. . 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT O Side 2 15056042047 15056042047 REV-1500 E:C Page 3 Decedent's Complete Address: File Number 21_08-01085 DECEDENT'S NAME Louis G. Marinacci, Sr. STREET ADDRESS 70 S. Pin Oak Drive CITY goilin S rin s g P 9 ~ 'STATE PA ~, ZIP 1 7007 Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) (1) $ 2 3 , 2 81.7 5 2. Credits/Payments A. Spousal Poverty Credit - 0 - B. Prior Payments _ 0 _ C. Discount 1, 1 6 4.0 9 1, 1 6 4.0 9 Total Credits (A + B + C) (2) 3. Interest/Penalty if applicable D. Interest - 0 E. Penalty _ 0 - Total Interest/Penalty (D + E) (3) - 0 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in oval on Page 2, Line 20 to request a refund. (4) _ _ _ 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 2 2 , 1 1 7 . 6 6 A. Enter the interest on the tax due. (5A) - 0 - B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (56) 2 2 , 1 1 7. 6 6 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 transferretl :.......................................................................................... ^ b. retain the right to designate who shall use the property transferred or its income : ............................................ ^ (~ c. retain a reversionary interest; or .......................................................................................................................... ^ X^ tl. receive the promise for life of either payments, benefits or care? ...................................................................... ^ 2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? .............................................................................................................. ^ 3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? .............. ^ 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which contains a beneficiary designation? ........................................................................................................................ ^ 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 I;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. For 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 natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. §9116(a)(1.2)]. The 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, except 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. REV-'1502 EX+ (6-98) SCHEDULE A COMMONWEALTH OF PENNSYLVANIA REAL ESTATE INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Louis G. Marinacci, Sr. 21-08-01085 Ail real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. Real property which is jointly-owned with right of survivorship must be disclosed on Schedule F. (it more space is needed, insert additional sheets of the same size) REV 1503 EX+ (6-98) SCHEDULE B COMMONWEALTH OF PENNSYLVANIA STOCKS & BONDS INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Louis G. Marinacci, Sr. 21-08-01085 All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM NUMBER VALUE AT DATE DESCRIPTION OF DEATH ~~ 1,229.2781 shares of Dominion Resources Common Stock at $34.43 per share $42,324.04 2. 534.316 shares of Dreyfus S&P 500 Index Fund 12,941.13 @ $24.22 per share. 3. 268.808 shares of Dreyfus Disciplined Stock 5,158.42 Fund @ $19.19 per share 4. 7,340.038 shares of Oppenheimer Equity Fund, 39,709.61 Inc A @ $5.41 per share TOTAL (Also enter on line 2, Recapitulation) I$ 1 0 0, 1 3 3. 2 0 (If more space Is needed, Insert addrGOnal sheets of the same size) REV-1507 EX+ (1-97) SCHEDULE D COMMONWEALTH OF PENNSYLVANIA MORTGAGES & NOTES INHERITANCE TAX RETURN RECEIVABLE RESIDENT DECEDENT ESTATE OF FILE NUMBER Louis G. Marinacci, Sr. 21-08-01085 All property jointly-owned with right of survivorship must be disclosed on Schedule F. (ir more space is needed, insert additional sheets of the same size) • REV-1508 EX+~1-97) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY ESTATE OF FILE NUMBER Louis G. Marinacci, Sr. 21-08-01085 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 VALUE AT DATE NUMBER DESCRIPTION OF DEATH ~~ Savings Account #223914-00, at Members 1st Federal $279.60 Credit Union. 2. Checking account, #223914-11, at Members 1st Federal 3,680.33 Credit Union 3. Certificate of Deposit, #223914-45, at Members 1st 914.71 Federal Credit Union. 4. Miscellaneous items of personal property including 18,026.00 1997 Frontier Nissan with extended cab and 2003 Honda Odessey. See attached appraisal. 5. Certificate of Deposit, #4356882-56-5, at 20 664.08 Pentagon Federal Credit Union TOTAL (Also enter on line 5, Recapitulation) I $ 4 3 , 5 6 4 . 7 2 (If more space is needed, insert additional sheets of the same size) REV4509 EX•. 11-971 SCHEDULEF COMMONWEALTH OF PENNSYLVANIA JOINTLY-OWNED PROPERTY INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Louis G. Marinacci, Sr. 21-08-01085 If an asset was made joint within one year of the decedent's date of death, it must be reported on Schedule G. SURVIVING JOINT TENANT(S) NAME I ADDRESS I RELATIONSHIP TO DECEDENT A. LOU1S G. Marinacci, Jr~ 975 Wharf Road Arnold, Maryland 21012 B. C. JOINTLY-OWNED PROPERTY: Son ITEM NUMBER LETTER FOR JOINT TENANT DATE MADE JOINT DESCRIPTION OF PROPERTY Include name of financial institution and bank account number or similar identifying number. Attach deed for jointly-held real estate. DATE OF DEATH VALUE OF ASSET % OF DECD'S INTEREST DATE OF DEATH VALUE OF DECEDENT'S INTEREST 1. A. 10/25 02 1,650.934 shares of USAA Income $18,044.71 0$ $9,022.35 Fund, #40-40901966709, @ $10.93 per share 2. A. 10/25 02 1,961.208 shares of USAA GNMA Trust @ $9.53 per share 18,751.99 0~ 9,375.99 Plus accrued dividend of $61.68. 3. A. 1/16/ 8 Certificate of Deposit, #223914-4 7,053.76 0$ 7 053 76 at Members 1st Federal Credit Unio , . 4. A. 3/8/0 Certificate of Deposit, 223914-44, 65,055.40 0~ 65 055 40 at Members 1st Federal Credit Union , . 5. A. 8/13/ 8 Certificate of Deposit, #223914-4 21,174.36 50$ 21 174 36 at Members 1st Federal Credit Unio , . 6. A. /23/ 7 Certificate of Deposit, #223914-7 11,442.06 50~ 5 721 03 at Members 1st Federal Credit Unio , . 7. A. /6/0 Certificate of Deposit, #223914-73 10,652.21 50$ 5 326 10 at Members 1st Federal Credit Unio , . 8. A. 3/23 01 Checking Account #115-8993-0, 18,752.56 50$ 9 376.28 at USAA Federal Savings Rank , TOTAL (Also enter on line 6, Recapitulation) l a 1 3 2, 1 0 5. 2 7 (If more space is needed, insert additional sheets of the same size) FjEV-1510 EX+11-~97) - COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN ESTATE OF SCHEDULE G INTER-VIVOS TRANSFERS 8~ MISC. NON-PROBATE PROPERTY Louis G. Marinacci, Sr. FILE NUMBER 21-OS-01085 This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes. ITEM NUMBER DESCRIPTION OF PROPERTY INCLUDE THE NAME OF THETRANSFEREE, THEIRRELATIONSHIPTODECEDENTANOTHEDATEOFTRANSFER. ATTACH A COPY OF 7HE DEED FOR REAL ESTATE. DATE OF DEATH VALUE OF ASSET % OF DECD'S INTEREST EXCLUSION IF APPLICABLE TAXABLE VALUE 1. NONE -0- TOTAL (Also enter on line 7, Recapitulation) I $ - 0 - (If more space is needed, insert additional sheets of the same size) EV-1511 EX+ (12-99) ,~ SCHEDULE N COMMONWEALTH OF PENNSYLVANIA FUNERAL EXPENSES & INHERITANCE TAX RETURN ADMINISTRATIVE COSTS RESIDENT DECEDENT ESTATE OF FILE NUMBER Louis G. Marinacci, Sr. 21-08-01085 Debts of decedent must be reported on Schedule I. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: ~~ Hollinger Funeral Home & Crematory Inc. $4 435.00 501 N. Baltimore Avenue Mount Holly Springs, PA 17065 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Name of Personal Representative(s) LOU 1 S G . Marinacci , Jr . 1 9 , 1 3 6. 0 0 Social Security Number(s)/EIN Number of Personal Representative(s) Street Address 9 7 5 Wharf Road City_ Arnold, State MD zip 21012 Year(s) Commission Paid: 2 0 0 9 2. Attorney Fees Anthony L. DeLuca, Esquire 18,000.00 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 398.00 5. Accountant's Fees 5 0 0. 0 0 6. Tax Return Preparer's Fees 5 0 0. 0 0 ~. Legal Advertising - Cumberland Law Journal 75.00 8. Legal Advertising - The Sentinel 174.58 9. Diversified Appraisal Services - Appraisal of 325.00 real estate 10. Roy D. Gottshall, Auctioneer - Appraisal of 100.00 Personal Property. TOTAL (Also enter on line 9, Recapitulation) $ 4 3 , 6 4 3 . 5 8 (If more space is needed, insert additional sheets of the same size) REV-1592 EX+ (12-03) COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE 1 DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS ESTATE OF FILE NUMBER Louis G. Marinacci, Sr. 21-08-01085 Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH ~. Embarq - Telephone $25.40 2. Met-Ed - Electric 79.00 3. UGI - Gas 65.00 4. . Comcast - Cable 201.58 5. The Patriot News - Newspaper 123.50 6. South Middleton Township Fire Co. 50.00 7. Otterbein United Methodist Church - Service 325.00 8. Tanger Appliances - Appliance 1,217.99 9. Loyal Bible Class - Church 700.00 TOTAL (Also enter on line 10, Recapitulation) $ I 2 , 7 8 7 . 4 7 (If more space is needed, insert additional sheets of the same size) REV=1513 EX+ (9-00) SCHEDULE J COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Louis G. Marinacci, Sr. FILE NUMBER 21-08-01085 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE I TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under Sec. 9116 (a) (1.2)] 1. Pamela Clarks Daughter 20$ 10 A N. Hollywood Dr. Surfside Beach, SC 29575 2 Jennifer J. Marinacci Daughter 20~ 56 W. North St. Carlisle, PA 17013 3 Karen Kallimani Daughter 20$ 216 South School St. Mt. Prospect, IL 60056 4 Deborah Marinacci Daughter 20~ 2226 Fairview Ave. Lynchburg, VA 24501 5 Louis G. Marinacci, Jr. Son 20$ 975 Wharf Road Arnold, MD 21012 ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 TH ROUGH 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 1 NONE 1. B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART I[ - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ - ~ - (If more space is needed, insert additional sheets of the same size) LAST WILL AND TESTAMENT OF LOUIS G. MARINACCI I, LOUIS G. MARINACCI, a resident of the Commonwealth of Pennsylvania, make, publish and declare this to be my Last Will and Testament, revoking all wills and codicils at any time heretofore made by me. I am retired from the military service of the United States. FIRST: I direct that the expenses of my last illness and funeral and the expenses of the administration of my estate shall be paid from my residuary estate without apportionment. I direct that all estate, inheritance and similar taxes payable with respect to property included in my estate, whether or not passing under this will, and any interest or penalties thereon, shall be appcrtioned among the people interested in my estate in the manner provided by law in the absence of a contrary direction in this will. SECOND: I give all my real estate, and all rights that I have under any related insurance policies, in equal shares to those of my children (LOUIS G. MARINACCI, JR., PAMELA M. CLARKS, KAREN S. KALLIMANI, JENNIFER J. MARINACCI and DEBORAH A. MARINACCI) who survive me and to the issue who survive me of those of my children who shall not survive me, per stirpes. THIRD: I give all tangible personal property owned by me at the time of my death, including without limitation personal effects, clothing, jewelry, furniture, furnishings, household goods, automobiles and other vehicles, together with all insurance policies relating thereto, to those of my children (LOUIS G. MARINACCI, JR., PAMELA M. CLARKS, KAREN S. KALLIMANI, JENNIFER J. MARINACCI and DEBORAH A. MARINACCI) who survive me, in substantially equal shares, to be divided among them as they shall agree, or if they cannot agree, as my Executor shall determine. FOURTH: I give all the rest, residue and remainder of my property and estate, both real and personal, of whatever kind and wherever located, that I own or to which I shall be in any manner entitled at the time of my death (collectively referred to as my "residuary estate"), as follows: (a) To those of my children (LOUIS G. MARINACCI, JR., PAMELA M. CLARKS, KAREN S. KALLIMANI, JENNIFER J. MARINACCI and DEBORAH A. MARINACCI) who survive me and to the issue who survive me of those of my children who shall not survive me, per stirpes. (b) If no issue of mine survives me, I give my residuary estate to those who would take from me as if I were Bien to die without a will, unmarried and the absolute owner of my residuary estate, and a resident of the Commonwealth of Pennsylvania. FIFTH: If any property of my estate vests in absolut., ownership i:. a minor or incompetent, my Executor, at any time and without court authorization, may: distribute the whole or any part of such property to the beneficiary; or use the whole or any part for the health, education, maintenance and support of the beneficiary; or distribute the whole or any part to a guardian, committee or other legal representative of the beneficiary, or to a custodian for the beneficiary under any gifts to minors or transfers to minors act, or to the person or persons with whom the beneficiary resides. Evidence of any such distribution or the receipt therefor executed by the person to whom the distribution is made shall be a full discharge of my Executor from any liability with respect thereto, even though my Executor may be such person. If such beneficiary is a minor, my Executor may defer the distribution of the whole or any part of such property until the beneficiary attains the age of eighteen (18) years, and may hold the same as a separate fund for the beneficiary with all of the powers described in Article SEVENTH hereof. If the beneficiary dies before attaining said age, any balance shall be paid and distributed to the estate of the beneficiary. SIXTH: I appoint my son, LOUIS G. MARINACCI, JR., to be my Executor. If my son, LOUIS G. MARINACCI, JR., shall fail to qualify for ariy reason as my Executor, or having qualified shall die, resign or cease to act for any reason as my Executor, I appoint my daughter, PAIti1ELA M. CL.4RKF as my Executor. I direct that no Executor shall be required to file or furnish any bond, surety or other security in any jurisdiction. SEVENTH: I grant to my Executor all powers conferred on executors under the Pennsylvania Probate, Estates and Fiduciaries Code, as amended, or any successor thereto, and all powers conferred upon executors wherever my Executor may act. I also grant to my Executor power to retain, sell at public or private sale, exchange, grant options on, invest and reinvest, and otherwise deal with any kind of property, real or personal, for cash or on credit; to hold, manage, insure, repair, improve, demolish, divide, and otherwise deal with and dispose of any property; to borrow money and mortgage, encumber or pledge any property to secure loans; to pay any legacy or distribute, divide or partition property in cash or in kind, or partly in kind, and to allocate different kinds of property, disproportionate amounts of property and undivided interests in property among any parts, funds or shares, and to determine the fair valuation of the property so allocated, with or without regard to tax basis; to determine what property shall receive basis increases pursuant to Section 1022(b) and (c) of the Internal Revenue Code and the amount of such increases and to make such determinations without regard to any duty of impartiality as between different beneficiaries; to exercise all powers of an absolute owner of property; to compromise and release claims with or without consideration; and to employ attorneys, accountants and other persons for services or advice. The term "Executor" wherever used herein shall mean the executors, executor, executrix or administrator in office from time to time. EIGHTH: I direct that for purposes of this will a b,°,neficiary shall be deemed to predecease me unless such beneficiary survives me by more than thirty days. NINTH: No disposition, charge or encumbrance on any income or principal of my estate by any beneficiary thereof shall be valid or binding upon my Executor. No beneficiary shall have the right to assign, transfer, pledge, encumber, anticipate or otherwise dispose of any such income or principal until the same shall be paid to such beneficiary by my Executor. No such income or principal shall be subject in any manner to any claim of any voluntary or involuntary creditor of any beneficiary or liable to attachment, execution or other legal or equitable process prior to its actual receipt by the beneficiary. TENTH: If any beneficiary under this will shall contest, obstruct or otherwise resist the probate hereof, or start or join in any proceeding tending to avoid or set aside any provision of this will, such beneficiary thereby shall forfeit all bequests and rights conferred upon such beneficiary hereunder, and this will shall be given effect in all respects as if such beneficiary had predeceased me. ELEVENTH: I have served in the Armed Forces of the United States. I therefore request that my Executor make appropriate inquiries to ascertain whether there are any benefits to which I, my dependents or my heirs may be entitled by virtue of any military affiliation. I specifically request that my Executor consult with a retired affairs officer at the nearest military installation, the Department of Veterans Affairs, and the Social Security Administration. This document was prepared under the authority of 10 U.S.C. § 1044 and implementing military regulations and instructions, by Captain Victoria Ko, United States Army, who is licensed to practice law in the State cf 1Vew Ycrk. IN WITNESS WHEREOF, I, LO~;iIS G. MA~2INACCI, sign my name and publish and declare this instrument as my last will and testament this ~ day of ~~, 2005. ,,~ i 1 /' !~ LOUIS G. MARINACCI The foregoing instrument was signed, published and declared by LOUIS G. MARINACCI, the above-named Testator, to be his last will and testament in our presence, all being present at the same time, and we, 2 .< , n ~~ at his request and in his presence and in the presence of each other, have subscn`bed 'aur names as witnesses on the date abcve written. ~J having an address at 9 having an address at C',,4ac-!~ ~ ~'i9~ i 7oi z 3 , E yy COMMONWEALTH OF PENNSYLVANIA, COUNTY OF CUMBERLAND, ss. We, the Testator and the witnesses, whose names are signed to the attached or foregoing instrument, being first duly sworn, do hereby declare to the undersigned authority that the Testator, LOUIS G. MARINACCI, signed and executed said instrument as his last will and testament in the presence and hearing of the witnesses, and that he had signed willingly, and that he executed it as his free and voluntary act and deed for the purposes therein expressed, and that each of the witnesses at the request of the Testator, in the presence and hearing of the Testator and each other, signed the will as witness, and that to the best of his or her knowledge the Testator was at the time at least eighteen years of age or emancipated, of sound mind and under no constraint, duress, fraud or undue influence. ,. LOUIS G. MARINACCI 7 Testator ,/'~ 11l ` print: ~ ~ ~~~ / r ~--- Witness print: Es ~erC ~'~' ~C~ Witness Subscribed, sworn to and acknowledged before me by the saic~LOUIS MARINACCI, Testator, and subscribed and sworn to before me by the above-named witnesses, this ~ day of , 2005. Ya ~~ rotary Public My commission expires on~'r~~, d~ ~%4' ~' COMMONWEALI"H OF PENNSYLVANIA Notarial Seal E3eity S. Kistler, Notary Public Carlisle Boro, Cumberland County My Commis ,ion Expires May 14, 2009 Member, Pennsylvania Association of Notaries n ti;': ;, ~'4i ~• APPRAISAL REPORT 70 SOUTH PIN OAK DRIVE BOILING SPRINGS, PENNA. PREPARED FOR THE ESTATE OF LOUIS G. MARINACCI BY LARRY E. FOOTE DIVERSIFIED APPRAISAL SERVICES 35 EAST HIGH STREET, SUITE 101 CARLISLE, PENNSYLVANIA 17013-3052 (717) 249-2758 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS LOCATION: 70 South Pin Oak Drive Boiling Springs, Pennsylvania TAX PARCEL NUMBER: 40-10-0636-104 IMPROVEMENTS: Two-story detached single-family dwelling. PROPERTY RIGHTS: Fee simple interest. OWNERSHIP HISTORY: The subject property is deeded to Louis G. and Betty M. Marinacci. The property was purchased on October 2, 1990 for a reported consideration of $159,900 and ownership transferred on deed reference 34-U-691. SCOPE OF THE ASSIGNMENT: The scope of the assignment included an analysis of the subject's area, an inspection of the subject property, an estimation of the property's highest and best use, consideration of all three approaches to value, and the application of those relevant to the valuation of the subject. OBJECTIVE: To estimate the market value of the subject property as unencumbered. EFFECTIVE DATE: October 27, 2008. HIGHEST AND BEST USE: Continued use as asingle-family residence. COST APPROACH: N.A. SALES APPROACH: $288,000 INCOME APPROACH: N.A. FINAL VALUE CONCLUSION: $288,000 2 ,~, ~ r .~ ~ ~~/ ~~ ~,,.~ ~.s~ / ltd ,;/~,J _,a~er `.rm;A~~a s ... ~ 7F / ~ ~" ~ ~ ~! , Iw"~.. 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