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Home My WebLink About07-25-03 FIRST AND PARTIAL ACCOUNT OF LAWRENCE C HULL, EXECUTOR FOR THE ESTATE OF HERBERT L HULL, DECEASED LATE OF CAMP HILL BOROUGH, CUMBERLAND COUNTY, PENNSYLVANIA File Number Date of Death Date of Executor's Appointment Account Stated To 21-02-00515 October 29,2001 June 28, 2002 July 10, 2003 Purpose of Account Lawrence C Hull, Executor, offers this Account to acquaint interested parties with the transactions that have occurred during his admtmstration to the Account date mdmated The Account also indicates the proposed distribution of the estate Dates of Advertisement Cumberland Law Journal July 19th &; July 26th & August 2ha, 2002 The Patriot News July 23ra & 30th & August 6th, 2002 It is important that the Account be carefully examined/l~equests for addltlOn~ ! information or questions or objections can be discussed~ ~ ~. ~ ce C Hull, Executor 5235 Meadowbrook Drive, Mechamcsburg, PA 17050 (71~ 55453t~4916. ~ ~t S~tt M ~'~i~er, 'L~ra - 3~117 Chestnut Street Camp Hill, PA 17011 (717) 761-5800 SUMMAKY OF ACCOUNT Proposed D~stnbut~on to Beneficiaries Current Value Fiduciary Acqmsmon Value Principal Receipts Income from Dividends & Interest Net Income from Comm Bldg after D~stnbutlon Net Gmn on Sale of Securities to Date Net Gain on Sale of Corem Bldg - Estimated Total SPECIFIC BEQUESTS DEBTS OF DECEDENT FUNERAL EXPENSES ADMINISTRATIVE EXPENSES FEES & COMMISSIONS FEDERAL AND STATE TAXES Balance before Proposed Distributions Distributions PRINCIPAL BALANCE ON HAND $40,000 00 6,521 29 10,083 00 45,303 81 86,239 34 662,336 83 850,484 27 $ 1,903,885 00 12,500 00 4,734 00 4,000 00 1,925,119 00 1,074,634 73 1,074,634 73 0 O0 RECEIPTS OF PRINCIPAL Assets Listed In Inventory (Valued as of Date of Death) Cash Commerce Bank Checkmg Acct $39,751 00 Tangtble Personal Property 1993 Lincoln Continental 1992 Chevrolet Suburban Personal Property-Lycommg County Personal Property-Fa~rvtew Rd Hunttng& Fishing Trophies-Fmrvtew Rd Personal Property-Lake Meade Cap Realty Investors IV Ltd Partn ML Media Partnership Share of Wmake Lodge 3,300 00 2,500 00 9,680 00 7,639 00 15,691 00 4,974 00 330 00 7,080 00 2,000 00 Stocks & Bonds 2297 Sh Wachovm Bank Comm Stk ~29 54/Sh 67,853 00 2281 Sh Alhant Energy Comm Stk ~29 39/Sh 67,039 00 5096 643 Sh MFS Global Eqty Fd A - ~17 95 91,485 00 25 5 Sh MFS Mum Income Fd-A ~8 45 215 00 1474 047 Sh Fidelity Fund @24 10 35,525 00 124 Sh W~sc Public Svc Corp Comm Stk ~33 78 4,189 00 68 Sh General Motors Corp Comm Stk ~43 41 2,952 00 20 Sh New England Utilities Comm Stk ~17 85 357 00 24 EDS Corp Comm Stk ~64 06 1,537 00 480 Sh [BM Corp Comm Stk ~109 31 52,469 00 3097 Sh PA Commerce Bancorp Comm Stk ~33 88 104,926 00 250 North Penn PA G/O Schl Dlst Mum Bds Gl06 25 26,563 00 250 Bangor PA G/O Area Schl Dmt Mum Bds ~102 30 25,575 O0 200 Phfla Pa Auth Ind Dev Mum Bds ~ 96 50 19,300 00 1078 353 Sh Scudder Managed Mum Bd Fd CIA ~9 21 9,932 00 100 State of FL Bd of Educ Capital Outlay Bds ~100 10,000 00 F~duc~ary Acqmslt~on Value $39,751 00 $53,194 O0 200 PA I-hgher Ed U of PA Rev Bds ~100 00 1661 Sh M-L CMA Tax Exempt Fd (~1 00 170 Sh AT&T Comm Stock ~31 54 Real Estate Smgle Family Dwelling, 2820 Fmrv~ew Rd, Camp Hill, PA 17011 Single Family Dwelhng, 386 Lake Meade Dr E Berhn, PA S~ngle Family Dwelhng, 149 03 Acres ~n Jackson Twp, Lycom~ng County PA Stngle Family Dwelhng, 304 Aprd Dr Camp Hill, PA 17011 2 02 Acres, Susquehanna Twp, Dauphin County PA Lot No 3 m phase 1 ofi81/83 Bus Complex Commercml Bufl&ng Erected Thereon 2570 Interstate Dr, Harrisburg PA 20,000 00 1,661 00 5,362 00 178,000 00 158,000 00 164,000 00 124,000 00 640,000 O0 $546,940 00 $1,264,000 00 TOTAL INVENTORY $1.903_885.00 $1.903.885.00 INCOME AND EXPENSES - COMMERCIAL BUILDING Rental Income from Trane Company Less Real Estate Taxes 20,792 60 Insurance 2,309 00 Repmrs 209 73 Net Income Income Distributions to Residuary Beneficmnes Tracy Hull 3/6/03 34,000 00 Marcia Hull 3/6/03 34,000 00 Lawrence Hull 3/6/03 34,000 00 Net Income after Distributions Plus Rent Due from Trane Co Expense Reimbursements Due from Trane Co 22,410 00 23,101 60 Estimated Income Before Distributions Estimated Income D~stnbutmns to Res Beneficiaries Tracy Hull 41,941 76 Marcm Hull 41,941 76 Lawrence Hull 41,941 75 Net Income After D~stnbutions $205,625 00 23,311 33 $182,313 67 102,000 00 80,313 67 45,511 60 125,825 27 125,825 27 SPEC~IC BEQUESTS Ruth Landrum Marcia Blowney Betty Khtaman Mavis Kn:ch $10,000 00 10,000 00 10,000 00 10,000 00 Total $40,000 00 DEBTS OF DECEDENT Uncleared Checks drawn on Commerce Bank Ck Acct West Shore Country Club - Unpmd Bill Universal Credit Card Balance FUNERAL EXPENSES Myers-Hamer Funeral Home Rolhng Green Cemetery 4,708 68 1,750 59 62 02 $6,521 29 8,048 O0 2,035 O0 $10,083 O0 ADMINISTRATIVE EXPENSES Settlement Costs on sale of Personal Residence Cumberland Law Journal-Legal Advertising Duty's Locksmith- Open File Cabinet National T~re & Battery - T~res for Lincoln L B Sm~th-Repmrs & Insp For Lincoln Umted Refrigeration - Gauges & Hoses A/C - Home Department of Health - Death Certs Emerald Auctmn & Appra~sal-Appramal of Personal Property The Patriot News Co - Legal Advertising V~tal Records - Death Certs Register of Wills - Short Certs Commonwealth of PA - Auto Reg Johns Hopkins Umv Hosp - Medical Exp Cumberland Law Journal - Legal Advemsmg Scott M Dinner Esq -Mtscellaneous Expenses Travelers Ins - Auto Ins Mark Heckman, Apprmser - Apprmsal of Lake Meade Mark Heckman, Appraiser - Appraisal of 304 April Dr Mtscellaneous Expenses, 2820 Fmrv~ew Rd Jerry Graham- Lawn Care 410 00 Tony M~kula - Cleanup & Moving 865 00 PPL - Electricity 497 56 PAWC - Water 57 75 UGI - Gas 47 00 AT&T & Venzon - Telephone 203 37 Miscellaneous Expenses, Lake Meade Jerry Graham - Lawn Care 65 00 John R Lerow, T C - RE Taxes 2766 60 Adams Electric - Electricity 1537 42 L M Mum Auth - Sewer & Water 194 00 L M Prop Owners - H O Dues & Mmnt 1950 20 Duty's Locksmith - Secumy 84 27 H~nson's Appl - Repmrs 108 65 Dayne Rowland - Repairs 150 00 M~scellaneous Expenses, 304 Aprd Drive Jerry Graham - Lawn Care & Snow Removal 1110 00 Mmhael Hartzog, T C -RE Taxes 635 45 Foremost Insurance-H O Insurance 530 00 Borough of Camp Htll- Sewer 127 46 Margaret Destefano - Repairs 641 98 Cumberland County Tax Bur - R E Taxes 1720 25 UGI - Gas 119 23 M~scellaneous Expenses, Lycom~ng County $14,816 O0 75 O0 45 O0 597 34 665 37 100 44 150 O0 2,212 50 96 91 18 O0 30 O0 36 O0 82 05 75 O0 162 38 370 32 375 O0 300 O0 2,080 68 6,856 14 4,884 37 Tony Mlkula - Lawn Care 498 00 Shane English - Lawn Care 415 00 Gene Baumgard, T C - RE Taxes 650 45 Tn County Rec Elect -Electricity 582 25 Agway Energy - Fuel Otl 1183 08 Montour- Od Svs - Fuel Oil 500 00 CTCO - Telephone 60 00 Kllhan Fireplace Center - Repairs 845 88 Travelers Insurance - H O Ins 1238 00 Liberty Fire Co - Membership 25 00 Plankenhom Stationery - Signs 82 68 Brevard County, Florida- Real Estate Taxes 6,080 34 5,194 97 $45,303 81 FEES & COMMISSIONS Lawrence C Hull, Executor Fee Scott M Dinner Esq, Attorney Fees Charles F Sullivan CPA CFP Preparation of Fed Estate Tax Ret & PA Inh Tx Ret Preparation of 2001 Fed, State & Local Inc Tx Ret Preparation of 2002 Fed & State Fldumary Returns Steven W Fahnestock CPA Preparation of Fed Estate Tax Ret & PA Inh Tx Ret Preparation of 2002 Fed & State Fiduciary Returns Cumberland County Register of Wills - Probate Fees Tucker, Arensberg & Swartz, Attorney Fees FEDERAL AND STATE TAXES PA Inheritance Tax' PA Dept of Revenue - Interest Federal Estate Tax PA Dept of Revenue - 2001 Income Tax 2002 Income Tax West Shore Tax Bureau - 2001 Earned Income Tax 2001 Federal Income Tax Refund 2002 Federal Income Tax 2003 Federal Income Tax Est Payments $35,000 00 21,200 00 17,500 00 3,750 00 3,000 00 750 00 500 00 937 00 3,602 34 $86,239 34 $128,578 12 400 96 526,912 75 138 O0 578 O0 60 O0 (648 00) 4,211 00 2,106 00 $662,336 83 PROPOSED DISTRIBUTIONS Dept of Treasury - balance of Federal Estate Tax L~abfllty Dept of Treasury - interest on Federal Estate Tax (est) Dept of Treasury - tentaUve unpatd g~ft tax L~abfl~ty (1997 through 2001) and interest (est) Lawrence C Hull, Tracy A Hull and Marcm M Hull, Co-trustees f/b/o Naomt Stahlnecker (remmnder ofpecumary legacy) Lawrence C Hull, Tracy A Hull and Marcia M Hull, Co-trustees f/b/o Margaret R DeStefano (remainder ofpecumary legacy) Lawrence C Hull, Tracy A Hull and Marcia M Hull, Co-trustees f/b/o Margaret R DeStefano (house/car mmntenance reserve) Lawrence C Hull, Personal RepresentaUve (est balance of commissions due) Scott M D~nner, Esqmre (est balance of counsel fees due) Charles F Sulhvan CPA (est balance of professional fees) Lawrence C Hull and Marcia M Hull, Co-trustees f/b/o Tracy A Hull Lawrence C Hull Marcm M Hull $273,713 00 22,500 00 25,750 00 5,000 O0 80,000 O0 48,000 00 25,000 00 12,500 00 7,500 00 191,557 00' 191,557 00' 191,557 00' $1,074,634 00 *Note proposed distributions to the residuary beneficiaries are subject to pro-rata adjustments for values of ~n-kmd properttes to be received and the resolutton of the Tltusvtlle, FL real estate matter Lawrence C Hull, Executor under the will of Herbert L Hull, deceased, hereby declares under oath (penalties of perJury) that he has fully and faithfully d~scharged the duties of his office, that the foregoing First and Partial Account is true and correct and fully discloses all significant transactions occurring during t~~od ~j/~ / Lawrence C Hull Executor Subscribed and sworn to by Lawrence C Hull before me this ~u~X~day of'-V~,..~5_, 2003 Notary Public COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND SS August 26, 2003 I, Donna M Otto, Register for probate of Wills and granting Letters of Administration for the County of Cumberland, in the Commonwealth of Pennsylvania, do hereby certify the foregoing to be true and accurate copies of the First and Final Account of Lawrence C Hull, Executor of the Estate of Herbert L Hull, Late of Camp Hill Borough, Cumberland County, Pennsylvania, Deceased as the same were passed and advertised and remain on file and of record in this office 1N TESTIMONY WHEREOF, I have hereunto set my hand and official seal the date above Donna M Otto, Re~ter~Wills NOW TO WIT, August 26,2003, came into Court Lawrence C Hull, Executor and presented an account and statement of proposed distribution, which were examined, passed, approved, and confirmed with a balance in his hands of$ 1,074~634 73 and the accountant was directed to distribute said balance in accordance with the statement of distribution filed Donna M Otto~ Clerk of the Orp~s' ~oturt COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND SS I, Donna M Otto, Clerk of the Orphans' Court, in and for said County, do hereby certify the foregoing to be a true copy of the account and statement of proposed distribution of Lawrence C Hull, Executor as full and entire as the same remain on file and record in this office IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Carlisle, this 26thday of August,20 03 Donna M Otto, Clerk of the Ot(~an~ourt IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION THE ESTATE of HERBERT L HULL, -- Deceased No 2002 - 00515 ORDER AND NOW, this __ day of ., 2003, upon consideration of the witlun ObJections of Tracy A Hull to the F~rst and Part, al Account of Lawrence C Hull, Executor of the Estate of Herbert L Hull. IT IS HEREBY ORDERED THAT (1) the Executor shall withdraw his First and Partial Account and resubmit a First and Partial Account stated to August 31, 2003, ~n substantial conformity with the "Model Account" format and the Umform Fidumary Accounting Pnnmples incorporated m Supreme Court Orphans' Court Rule 6 1 by the next filing deadline following this Order' (2) the Executor and his attorney are denied any compensation for the time expended In prepanng and filing the withdrawn account, (3) the Executor shall submit the following documentation to the Court and to the Objectant within twenty (20) days following tins Order (i) copies of detailed bllhng statements for the legal services provided by Scott Dinner, Esquire, including a chronologncal hst of the services performed by the attorney and reflecUng the time expended and specific tasks performed by the timekeeper on the respective dates and the bilhng rate of the timekeeper; (ii) copies of detailed bflhng statements for the accounting services prowded to the Estate by Charles F. Sullivan, C.P.A, lncludmg a chronologncal list of the servmes performed by him and reflecting the t~me expended and specific tasks performed by the timekeeper on the respective dates and the billing rate of the timekeeper, (111) a detailed statement of the services performed on behalf of the Estate of Herbert L Hull by Lawrence C Hull, as executor, providing a chronological hst of such services, the amount of time expended and the task(s) performed on each given date, and the billing rate charged by Lawrence C Hull for such services, (4) following the filing of a resubmitted First and F~nal Account as set forth above, a heanng shall be held at a date to be determined, on the reasonableness of the claimed attorney's and tax accountant's fees and executor's commissions, the proper interpretation of the residuary clause of the decedent's wall and such other issues of dispute that may be revealed by a proper accotmt~ng of the administration of this Estate By the Court J Lawrence C Hull, Executor under the will of Herbert L Hull, deceased, hereby declares under oath (penalties of perjury) that he has fully and fmthfully d~scharged the duties of h~s office, that the foregoing F~rst and Partial Account ~s tree and correct and fully d,scloses all s~gn,ficant transactions occumng dunng ~~d ~ ~ ~ / Lawrence C Hull Executor Subscribed and sworn to by Lawrence C Hull before me this ~q~v,, day of--3-~ ~ , 2003 Notary Pubhc ~