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HomeMy WebLinkAbout02-04-09IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION ESTATE OF GENEVIEVE L. MARTIN, DECEASED FILE N0.2008-00755 FAMILY AGREEMENT AND FINAL RELEASE THIS AGREEMENT by and between STEPHEN F. J. MARTIN, as Executor of the Estate of GENEVIEVE L. MARTIN, Deceased, and STEPHEN F. J. MARTIN and ARTHUR J. MARTIN, JR., as beneficiaries. WHEREAS, GENEVIEVE L. MARTIN, late of Cumberland County, Pennsylvania, died testate on July 7, 2008, having first made her Last Will and Testament dated January 2, 2008, which instrument was admitted to probate and is recorded in Cumberland County Courthouse, Register of Wills, File No. 2008-00755; WHEREAS, STEPHEN F. J. MARTIN has been duly appointed as Executor of the Estate of Genevieve L. Martin, Deceased, and ~ .~ o `~ :< WHEREAS h :. ~~~ a , t e parties in interest are: ~~ _ . 1. Stephen F. J. Martin, son; and ~? ~? a,, t = ~--3 2. Arthur J. Martin, Jr., son ~ ~ --- " '~ -r C ~ WHEREAS, pursuant to Article IV of the Last Will and Testament , STEP EN F. ~ ~ ..- ~ ~r MARTIN is entitled to a specific bequest of decedent's personal property, limited to jewelry, household items, furniture and photographs. WHEREAS, pursuant to Article V of the Last Will and Testament, S MARTIN is entitled to seventy-five percent (75%) of the residuary estate; but not F. J. _l WHEREAS, pursuant to Article V of the Last Will and Testament, ARTH R J. MARTIN, JR. is entitled to twenty-five percent (25%) of the residuary estate; WHEREAS, each of the parties to this Agreement have been furnished wi a complete Statement of Account as attached hereto and marked as Exhibit A; WHEREAS, it is the desire of the parties to this Agreement that administr tion of this estate be completed and accomplished without a formal accounting to the Orphan 'Court Division of the Court of Common Pleas of Cumberland County, it being the desir of the parties to avoid the expense, delay and publicity of a formal accounting; NOW, THEREFORE, WITNESSETH, in consideration of the mutual nro isec_ covenants and agreements recited herein, the parties do agree as follows: 1. STEPHEN F. J. MARTIN, Executor, does hereby state that he ha fully and faithfully discharged the duties of his office, and the Statement of Account (Exhibi A) is true and correct and fully discloses all significant transactions during the accounting pe 'od. He further states that all known claims against the Estate have been paid in full, and to the best of his knowledge there are no claims outstanding against the Estate, and all taxes the Estate have been paid. 2. Each of the parties to this Agreement does hereby release and the said Executor, STEPHEN F. J. MARTIN, his heirs, executors, administrators JAN L. BROWN & ASSOCIATES, attorneys at law, and JAN L. BROWN, ESI any and all liability which may from time to time arise in connection with their ser Executor and Attorneys of the Estate of Genevieve L. Martin. The parties do furth~ indemnify and hold them harmless from any and all liability which may arise again from creditors or claimants. due from discharge id assigns, DIRE from :e as agree to the Estate 2 3. Each of the parties does hereby acknowledge receipt of the assets described on the distribution schedule. 4. Each of the parties acknowledges that this Agreement shall be inde ed and recorded in the estate proceedings and that the terms hereof shall be binding upon their respective heirs, successors, administrators and assigns. 5. Each of the parties do further agree with each other and the aforesa d Executor that should any liability come due to the estate of the said decedent after the signing of this Agreement, each will contribute pro rata his share of the estate to satisfy any and all claims, demands, suits or causes of action which maybe successfully prosecuted against t or the aforesaid Executor after the signing, sealing and delivery of this Agreement. 6. This Agreement shall be governed by the laws of the Commonweal Pennsylvania. ~I 3 said estate h of IN WITNESS WHEREOF, I have hereunto set my hand and seal this ~~_ da of Y December, 2008. WITNESS: B COMMONWEALTH OF PENNSYLVANIA COUNTY OF DAUPHIN ---/-~ ~ / F. J. MARTIN, Executor nd SS: On this the o? 9 * day of December, 2008 before me, a Notary Public, the undersigned officer, personally appeared STEPHEN F. J. MARTIN, known to me satisfactorily proven to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ~' NOTARIAL ~At ~„~,.o~. /)1~(ou.~. ,U ' ~ ~~ ~ ~ ~ E~ COQ Notary Public 4 IN WITNESS WHEREOF, I have hereunto set my hand and seal this /.5 T,y day of December, 2008. WITNESS: THUR J. M ., Benefici y STATE OF NEW JERSEY SS: COUNTY OF ~ ~Imb ~~ . On this the 1~ ~ /~ day of December, 2008 before me, a Notary Public, the undersigned officer, personally appeared ARTHUR J. MARTIN, JR., known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Public MARTHA A. SLEMMER'. NOTARY PUBLIC OF NEW 1E~SEY MY COMMISSION EXPIRES JULYI,6, 2009 5 ESTATE OF GENEVIEVE L. MARTIN DATE OF DEATH DEATH JULY 7, 2008 SUMMARY STATEMENT OF ACCOUNT ACCOUNTING PERIOD 07/07/2008-12/11/2008 Assets - Schedule A $ '~ 291 668.28 Income - Schedule B $ ', , 2,431.92 Disbursements - Schedule C $ I (39,925.06 Assets Available for Distribution $ ~' ' 254,175.14 Distributions to Beneficiaries - Schedule D i $ ~~, 242.175.14 Balance reserved for contingencies' $ ~'~, 12,000.00 1The reserve balance will increase or decrease based on receipt of addition I assets/income, presentation of an obligation and/or payment of additional c arges. The reserve will be distributed to the residuary beneficiaries after applicable adju tments. After final distribution is made, the residuary beneficiaries agree to reimburse the personal representative if called upon to pay further liabilities of the decedent in the f ture. Period 7/7/08-12/11/08 Exhibit A ESTATE OF GENEVIEVE L. MARTIN ASSETS SCHEDULE A DESCRIPTION CASH Franklin Bank Checking Account No. 02000018560 Franklin Bank Savings Account No. 02020001162 Franklin Bank Certificate of Deposit No. 02460000183 Franklin Bank Certificate of Deposit No. 02460000184 PSECU Regular Shares, S01 PSECU Certificate of Deposit, C53 PSECU Certificate of Deposit, C54 Northern Trust Western-Southern Life Account No. 9800141181 REIMBURSEMENTS/REFUNDS/REBATES United States Treasury, stimulus payment Erie Insurance Group, premium refund Country Meadows Associates, refund Verizon, credit balance refund TANGIBLE PROPERTY Household goods & personal effects DA' V LUE AT f OF DEATH 3,851.77 7,701.11 55,188.51 55,188.52 8,608.44 54,295.35 54,295.35 38,563.27 $ 1,200.00 $ 107.00 $ 665.12 $ 3.84 $ 12,000.00 $ 291,668.28 Period 7/7/08-12/11/08 ESTATE OF GENEVIEVE L. MARTIN INCOME SCHEDULE B DESCRIPTION Interest Income Citizens Bank, estate money market account through 11/30/08 Franklin Bank Checking Account No. 02000018560 Franklin Bank Savings Account No. 02020001162 Franklin Bank Certificate of Deposit No. 02460000183 Franklin Bank Certificate of Deposit No. 02460000184 PSECU; post death interest Northern Trust, Western Southern Life Acct. 9800141181 TOTAL INCOME $ 1,62 .46 $ .09 $ .72 $ 19 .81 $ 19 .81 $ 36 .44 $ 2 .59 $ 2,43 .92 Period 7/7/08-12/11/08 ESTATE OF GENEVIEVE L. MARTIN DISBURSEMENTS SCHEDULE C DESCRIPTION CATEGORY Neill Funeral Home Funeral $ Pealers Funeral $ Minister honorarium Funeral $ The Lincoln Monument Co Funeral $ Jan L Brown & Associates; legal fee Adm $ Register of Wills-Probate Fees Adm $ Parks & Company; 1040 & 1041 preparation (estimate) Adm $ Cumberland Law Journal Adm $ The Patriot-News, legal advertising Adm $ Country Meadows (written pre-death cashed post-death) Debt $ Discover Card, outstanding balance Debt $ GM Card, outstanding balance Debt $ K of C Life Premium, premium Debt $ Susquehanna Internal Medicine Debt $ United States Treasury, Form 1040, tax year 2007 Debt $ Verizon (written pre-death cashed post-death) Debt $ Verizon, final bill Debt $ West Shore EMS, ambulance service for 6/21/08 Debt $ Pennsylvania Inheritance Tax Tax $ 1OUNT 0 684.49 874.45 100.00 1 900.00 8 934.00 410.00 500.00 75.00 318.12 2 984.00 10.00 40.00 23.08 20.86 822.00 50.95 14.76 646.30 11,517.05 $ 39,'925.06 Period 7/7/08-12/11/08 ESTATE OF GENEVIEVE L. MARTIN DISTRIBUTIONS TO BENEFICIARIES ACCORDING TO TERMS OF WILL DATED JANUARY 2, 2008 SCHEDULE D Stephen F. J. Martin, specific bequest according to Article IV Household goods & personal effects $ 12,000.00 Stephen F. J. Martin, son, 75% residuary estate Cash distribution on or after 12/15/08 $ 172,631.36 Arthur J. Martin, Jr., son, 25% residuary estate Cash distribution on or after 12/15/08 $ 57,543.78 242,175.14 175.14 Period 7/7/08-12/11/08 JAN L. BROWN 8~ ASSOCIATES ATTORNEYS AND COUNSELORS AT LAW JAN L. BROWN, ESQUIRE' JACQUELINE A. KELLY, ESQUIRE 'ADMITTED IN PA AND DISTRICT OF COLUMBIA OLDE ENGLISH GAP 845 SIR THOMAS CQI.IRT SUITE 12 HARRISBURG, PA 17109 EMAIL: jlbassoc@verizon.net www.janbrownlaw.com TELEPHONE (717) 541-5550 FACSIMILE (717) 541-9223 February 3, 2009 Register of Wills Cumberland County Courthouse One Courthouse Square Carlisle, PA 17013 Re: Estate of Genevieve L. Martin Estate No. 21-08-755 Gentlemen or Ladies: ~I BRENDA F. KEP~IART, LEGAL ASSISTANT PAULA K. WHITt~, LEGAL ASSISTANT JUDITH A. EBEF~SOLE, ADMINISTRATIVE ASSISTANT I~ ~, II Enclosed please find the Family Settlement Agreement for filing with the Register of Wills/Clerk of the Orphans' Court together with Check 1004 in the amount of $24 to cover the filing fee. Please time stamp and return our file copy of this document. A return envelope is provided. If you have any questions, feel free to contact this office. Sincerely, ~,~ Jan L. Brown ~ © bfk ~~ _ -*~ ' Enclosure ~;~ n ~ ~- ~~' , , ~~~. - ~ .t' ~x I , ~ Z - ~: x 0