The URL can be used to link to this page

Home My WebLink About02-09-09IN THE MATTER OF THE ESTATE IN THE COURT OF COMMON PLEAS ~, OF MARY E. GLASER, OF CUMBERLAND COUNTY, P~FNNSYLV~iIA_ -, DECEASED ORPHANS ' COURT D:CVISIO~=~ -~ -za .-. ~ , NO. 2007-01019 ;~: PA NO. 21-07-O10:L9 ~;~`~.~ -- - c,> ,,~ .._~~_,.4 ^~ i ESTATE SETTLEMENT AGREEMENT ' `_~ ~;~ ,~,-~ f, ~ w THIS AGREEMENT, made this ~ day of ~~ Q(,{` 2009. WITNESSETH: THE CIRCUMSTANCES leading up to the execution of this Agreement are as follows: 1. MARY E. GLASER (the ~~Decedent"), died gestate on August 15, 2007, and Judith A. Krebs was duly qualified with the Register of Wills of Cumberland County, Pennsylvania, as the Executrix (the "Executrix") of the Decedent's probate estate (t1-~e "Estate") 2. The Decedent's Last Will and Testament (the "Will") provides for the distribution of the Decedeni~'s estate equally to her children, JUDITH A. KREBS and DAVID L. GLASER.. 3. David L. Glaser is the Decedent's surviving son and Judith A. Krebs is the Decedent's surviving daughtE~r (collectively, the "Beneficiaries"). The Beneficiaries desire the Executrix to settle the Estate informally in order to avoid the expense and delay involved with the formal adjudication of a First and Final Account by the Orphans' Court Division of the Court= of Common Pleas of Cumberland County, Pennsylvania (the "Court"). ~~x 4. The Beneficiaries desire to forever set~le and compromise any and all claims and rights which they may possess, now or hereafter, in the Estate and to confirm their acceptance of the Informal Account (the "Account") , attached heret=o as Exhibit "A" and incorporated herein by this reference, and the Schedule of Proposed Distribution (the "Schedule"), attached hereto as Exhibit "B" and incorporated herein by this reference. `Phe Beneficiaries desire that the distributions, as set forth on E<~hibit "B," be i.n full satisfaction of their rights in the Estate. 5. The Beneficiaries wish to release the Executrix and to indemnify her against any and all claims that may be asserted against the Estate or the Executrix after the date hereof. 6. The Executrix is willing to settle the Estate informally in consideration, of the indemnifications hereinafter provided by the Beneficiaries. NOW THEREFORE, in consideration of_ the forego=ing and intending to be legally bound, jointly and severally, the Beneficiar_i.es, for themselves, their successors and assigns: 1. Represent and warrant that they have read and. understand this Agreement and confirm that the facts set forth above are true and correct, to the best of their knowledge, information and belief. 2. Declare that they have sufficient information to make an informed waiver of their right to a formal accounting with the Court, and do hereby waive the filing and audi_tinq of the same. 3. Acknowledge that the distributive share or amount set forth on the Schedule shall be in fu11 satisfaction of. their respective entitlements under the Will. 4. Release, remise, quitclaim and forever discharge the Executrix, her heirs, personal representatives, successors and assigns, from and against all claims that they, as legatees of the Estate and in connection with the Estate, had, now have or may in the future have in connection with the Estate.. 5. Agree to refund, on demand, all or any part of any aforesaid distribution, which has been determined by the Executrix, or by the Court, or by any court. of competent jurisdiction, to have been improperly made. 6. Agree to indemnify and hold harmless the= Executriix, her heirs, personal representatives, successors and assigns, from and against any and all claims, loss, liability or damage (whe~her or not related to the negligence of the Executrix:) that may hereafter be asserted against the Estate or against the Executrix. 7. Agree to execute such other or additional documents as may be necessary to effectuate the agreements set forth. herein. 8. Acknowledge that this Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. 9. Consent to the Court exercising personal jurisdiction over them in any suit or action arising cut of the enforcement of this Agreement. IN WITNESS WHEREOF, the Beneficiaries have read and agreed to the terms and conditions set forth in this Estate Settlement Agreement and intending to be legally bound. hereby placed their hands and seals. ~~% ~ ~~~ WITNESS ~,. o ,~~ WITNESS JUDI`PH A. KREBS ~~ DAVID L. LASER COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF CUMBERLAND On this, the ~_ day of I ~ r(~ 2009, before me, the undersigned officer, personally appeared JUDITH A. KR BS, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and ackncwledged that she executed the same in the capacities and for the purposes therein contained. IN WITNESS WHEREOF, I hereunder set my hand a d official seal. ~~ Notary Public Cc51iAMONWEALTrI OF P~ ENNSYLVANIA [~~ Notefial3eal j Leola M. Gould, Notary Public gE Lower Allen Twp.„ Cumberland County My Commission Expires Apri129, 2012 nAember PennsNl~~ania Associaton of Notaries COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF CUMBERLAND On this, the _~ day of ~~~ ~~ 20C9, before me, the undersigned officer, personally appeared DAVID ~ GLASER, 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 in the capacities and for the purposes therein contained. IN WITNESS WHEREOF, I hereunder seT_ my hand a official seal. ~~_,_ ___ Notary Public COMMQNW~ALTFi G1F PENNSYi.VANIA j ~ Notarial Seal 91 Leola M. Go~dd, Notary Public Lower Allen Twp., Cumberland County j My Commission Expires April 29, 2012 Member. Penns~laania Association of Notaries INFORMAL ACCOUNT ESTATE OF MARY E. GLASER ITEM VALLfE AT DEATH ASSETS: Stocks & Bonds Cash, Bank deposits & financial accounts Total DEBITS: Funeral & Administration Expenses Debts, mortgages liabilities and liens Inheritance Tax Total Net Value of Estate at time of Death $ 328,733.10 $ 33, 522.63 $ 3E2,255.73 $ 16,901.41 $ 17,670.59 $ 1.4,745.77 $ 49,326.77 $ 312,928.96 The value of the stocks, bonds, cash and bank deposits has fluctuated during the administration of the estate and a final value will be determined at the time of actual distribution. A PROPOSED DISTRIBUTION OF A.SSE'.CS OF ESTATE OF MARY E. GLASER BENEFICIARY SHARE Judith A. Krebs 50a David L. G]_aser 50 0 Total 1000