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Home My WebLink About07-25-03 (2) FIRST AND PARTIAL ACCOUNT OF LAWRENCE C HULL, EXECUTOR FOR THE ESTATE OF HERBERT L HULL, DECEASED LATE OF CAMP H1LL 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 indicated The Account also indicates the proposed distnbutlon of the estate Dates of Advertisement Cumberland Law Journal July 19th & July 26th & August 2ha, 2002 The Patriot News July 23ra & 30th & August 6~h, 2002 -/3 It is Important that the Account be carefully exatmned~¢uests for addg, lonal information or questions or objections can be discussed t awrence C Hull, Executor 5235 Meadowbrook Drive, Mechamcsburg, PA 17050 3117 Chestnut Street Camp Hill, PA 17011 (717) 761-5800 SUMMARY OF ACCOUNT Proposed Distribution to Beneficmnes Cu~em Va~e F~ducmry Acqmsit~on Value Pnnc~pal Receipts Income from Dtwdends & Interest Net Income from Comm Bldg after Dmtnbut~on Net Gain on Sale of Securities to Date Net Gain on Sale ofComm Bldg - Estimated Total SPECIFIC BEQUESTS DEBTS OF DECEDENT FUNERAL EXPENSES ADMINISTRATIVE EXPENSES FEES & COMMISSIONS FEDERAL AND STATE TAXES Balance before Proposed D~stnbutlons D~stnbuUons 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 Checking Acct $39,751 00 Tangible Personal Property 1993 Lincoln Continental 1992 Chevrolet Suburban Personal Property-Lycomlng County Personal Property-Fatrvlew Rd Hunting & Fishing Trophtes-Falrvlew Rd Personal Property-Lake Meade Cap Realty Investors IV Ltd Partn ML Media Partnership Share of Wmake Lodge 3,300 O0 2,500 O0 9,680 O0 7,639 O0 15,691 O0 4,974 O0 330 O0 7,080 O0 2,000 00 Stocks & Bonds 2297 Sh Wachoma Bank Comm Stk ~29 54/Sh 2281 Sh Alhant Energy Comm Stk ~29 39/Sh 5096 643 Sh MFS Global Eqty Fd A - ~17 95 25 5 Sh MFS Mum Income Fd-A ~8 45 1474 047 Sh Fidelity Fund ~24 10 124 ShWlsc Public Svc Corp Comm Stk ~33 78 68 Sh General Motors Corp Corem Stk ~43 41 20 Sh New England Utilities Comm Stk ~17 85 24 EDS Corp Comm Stk ~64 06 480 Sh IBM Corp Comm Stk ~109 31 3097 Sh PA Commerce Bancorp Comm Stk ~33 88 250 North Penn PA G/O Schl D,st Mum Bds ~106 25 67,853 O0 67,039 O0 91,485 O0 215 O0 35,525 O0 4,189 O0 2,952 O0 357 O0 1,537 O0 52,469 O0 104,926 O0 26,563 O0 250 Bangor PA G/O Area Schl Dlst Munl Bds ~I02 30 25,575 00 200 Phda 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 Fiduciary Acquisition Value $39,751 O0 $53,194 00 200 PA Ittgher Ed U of PA Rev Bds ~100 00 1661 Sh M-L CMA Tax Exempt Fd ~1 00 170 Sh AT&T Corem Stock ~31 54 Real Estate Single Family Dwellmg, 2820 Fmrwew Rd, Camp Hill, PA 17011 Single Family Dwellmg, 386 Lake Meade Dr E Berlin, PA Single Farmly Dwellmg, 149 03 Acres m Jackson Twp, Lycom~ng County PA Single Family Dwelling, 304 April Dr Camp Hall, PA 17011 2 02 Acres, Susquehanna Twp, Dauphin County PA Lot No 3 m phase 1 ofi81/83 Bus Complex Commercial Bmld~ng Erected Thereon 2570 Inters,tate Dr, Hamsburg PA 20,000 00 1,661 00 5,362 00 178,000 O0 158,000 O0 164,000 O0 124,000 O0 640,000 O0 $546,940 O0 $1,264,000 O0 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 Repairs 209 73 Net Income Income D~stnbutlons to Residuary Beneficiaries 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 Reambursements Due from Trane Co 22,410 00 23,101 60 Estimated Income Before Distributions Estmaated Income Distributions to Res Beneficiaries Tracy Hull 41,941 76 Marcia Hull 41,941 76 Lawrence Hull 41,941 75 Net Income After Distributions $205,625 00 23,311 33 $182,313 67 102,000 00 80,313 67 45,511 60 125,825 27 125,825 27 SPECIFIC BEQUESTS Ruth Landrum Marcia Blowney Betty Khtaman Mavis Kirch $10,000 00 10,000 00 I0,000 00 10,000 00 Total $40,000 O0 DEBTS OF DECEDENT Uncleared Checks drawn on Commerce Bank Ck Acct West Shore Country Club - Unpaid B~II Universal Credit Card Balance 4,708 68 1,750 59 62 02. $6,521 29 FUNERAL EXPENSES Myers-Harner Funeral Home Rolhng Green Cemetery 8,048 00 2,035 00 $10,083 00 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-R~pmrs & Insp For L~ncoln Umted Refrigeration - Gauges & Hoses A/C - Home Department of Health- Death Certs Emerald Auction & Apprmsal-Apprmsal of Personal Property The Patriot News Co - Legal Advertlsmg 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 Advertising Scott M Dinner Esq - M~scellaneous Expenses Travelers Ins - Auto Ins Mark Heckman, Apprmser - Apprmsal of Lake Meade Mark Heckman, Appraiser - Apprmsal of 304 April Dr Mxscellaneous Expenses, 2820 Fmrvmw Rd Jerry Graham- Lawn Care 410 00 Tony M~kula - Cleanup & Mowng 865 00 PPL - Electricity 497 56 PAWC - Water 57 75 UGI - Gas 47 00 AT&T & Verlzon - Telephone 203 37 M~scellaneous 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 Muni Auth - Sewer & Water 194 00 L M Prop Owners - H 0 Dues & Mamt 1950 20 Duty's Locksmith - Secumy 84 27 I-hnson's Appl - Repmrs 108 65 Dayne Rowland - Repmrs 150 00 M~scellaneous Expenses, 304 April Drive Jerry Graham - Lawn Care & Snow Removal 1110 00 Mtchael Hartzog, T C -RE Taxes 635 45 Foremost Insurance - H O Insurance 530 00 Borough of Camp Hill - Sewer 127 46 Margaret Destefano - Repmrs 641 98 Cumberland County Tax Bur - R E Taxes 1720 25 UGI - Gas 119 23 Mxscellaneous Expenses, Lycoming County $14,816 00 75 00 45 00 597 34 665 37 100 44 150 00 2,212 50 96 91 18 00 30 00 36 00 82 05 75 00 162 38 370 32 375 00 300 00 2,080 68 6,856 14 4,88437 Tony Mlkula - Lawn Care Shane English - Lawn Care Gene Baumgard, T C - RE Taxes Tn County Rec Elect - Electricity Agway Energy - Fuel Od Montour - Od Svs - Fuel Oil CTCO - Telephone Kdhan F~replace Center - Repmrs Travelers Insurance - H O Ins Liberty Fire Co - Membership Plankenhom Stationery - Signs Brevard County, Florida- Real Estate Taxes 498 415 650 582 1183 5OO 60 845 1238 25 82 O0 O0 45 25 O8 O0 O0 88 O0 O0 68 6,080 34 5~194 97 $45,303 81 FEES & COMMISSIONS Lawrence C Hull, Executor Fee Scott M Dinner Esq, Attorney Fees Charles F Sulhvan CPA CFP Preparation of Fed Estate Tax Ret & PA Inh Tx Ret Preparataon of 2001 Fed, State & Local Inc Tx Ret Preparation of 2002 Fed & State F~ducxary Returns Steven W Fahnestock CPA Preparation of Fed Estate Tax Ret & PA Inh Tx Ret Preparation of 2002 Fed & State F~duc~ary Returns Cumberland County Register ofW~lls - 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 O0 21,200 O0 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 Liability Dept of Treasury - interest on Federal Estate Tax (est) Dept of Treasury - tentative unpmd gift tax Liability (1997 through 2001) and interest (est) Lawrence C Hull, Tracy A Hull and Marcia M Hull, Co-trustees ffb/o Naom~ Stahlnecker (remainder ofpecumary legacy) Lawrence C Hull, Tracy A Hull and Marcm M Hull, Co-trustees ffo/o Margaret R DeStefano (remainder of pecuniary 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 Representative (est balance of commissions due) Scott M Dinner, Esqmre (est balance of counsel fees due) Charles F Sullivan CPA (est balance of professional fees) Lawrence C Hull and Marcia M Hull, Co-trustees f/b/o Tracy A Hull Lawrence C Hull Marcia M Hull $273,713 O0 22,500 O0 25,750 O0 5,000 00 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 d~stribut~ons to the residuary beneficiaries are subject to pro-rata adjustments for values of m-kind properties to be received and the resolution of the Tituswlle, FL real estate matter