HomeMy WebLinkAbout05-13-09DECEDENT'S ESTATE
COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA
. ORPHANS' COURT DIVISION
ESTATE OF WILLIAM E. CLIFFORD_ _ ,DECEASED
No. 21-08-0088
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PETITION FOR ADNDICATION i '=__: , ~? --~
STATEMENT OF PROPOSED DISTRIBUTION :-' c„; ~ c..>
PURSUANT TO Pa. O.C. Rule 6.9 `~3 ~~'~ c~
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This form may be used in all cases involving the Audit of the Account of a Decedent's Estate. Ij~
space is insufficient, riders may be attached. Attach the spouse's election, if any; the papers
required under items 8-19 inclusive; and any instrument pertinent to the adjudication.
INCL UDE ATTACHMENTS AT THE BACK OF THIS FORM.
Name of Counsel: No V Otto III, Esquire
Supreme Court I.D. No.: 27763
Name of Law Firm: Martson Law Offices
Address: Ten East High Street, Carlisle, PA 17013
Telephone: 717-243-3341
Fax: 717-243-1850
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Form OC-0! rev. 10.13.06 Page 1 of 10
Estate of WILLIAM E. CLIFFORD
1. Name(s) and address(es) of Petitioner(s):
Name: M&T Bank, Jane F. Burke, VP Jane E. Clifford
Address: One West High Street
Carlisle, PA 17013
Deceased
500 Penn Valley Road
Narberth, PA 19072
Identify any executors or administrators who have not joined in the Petition for
Adjudication and Statement of Proposed Distribution and state reason:
[s this the first accounting by this fiduciary? ..................... ~ Yes ~ No
If not, identify prior accountings, the accounting periods covered, and the date of
adjudication of the prior accounting.
2. Decedent died on December 10, 2007
Letters Testamentary or ~ Letters of Administration were granted to Petitioner(s) on
Date of Will (ifappdicable): October 15, 2003
Date(s) of Codicil(s) (rf applicable): n/a
Date of probate (if different from date Letters granted): January 74. 2(1(1R
Was a bond required? Yes ~ No [f yes, state amount:
Are proofs of advertising of the grant of Letters attached? ......... ~ Yes ~ No
Dates of advertising of the grant of Letters: The Sentinels Feh_ A_ 1 ~ anri 23 2nnR
Cumberland Law Journal: February $, 15 and 22 2008
Form OC-01 rev. l0.13.06 Page 2 of 10
Estate of WILLIAM E. CLIFFORD
Deceased
8. Written notice of the Audit as required by Pa. O.C. Rules 6.3, 6.7 and 6.8 has been or will be
given to all parties in interest listed in item 9 below, all unpaid creditors and all claimants
listed in item 10 below. In addition, notice of any questions requiring Adjudication as
discussed in item 14 below has been or will be given to all persons affected thereby.
A. If Notice has been given, attach a copy of the Notice as well as a list of the names
and addresses of the parties receiving such Notice.
B. If Notice is yet to be given, a copy of the Notice as well as a list of the names and
addresses of the parties receiving such Notice shall be submitted at the Audit
together with a statement executed by a Petitioner or counsel certifying that such
notice has been given.
C. If any person entitled to Notice is not sui juris (e.g., minors or incapacitated
persons), Notice of the Audit has been or will be given to the appropriate
representative on such party's behalf as required by Pa. O.C. Rule 5.2.
D. If any charitable interest is involved, Notice of the Audit has been or will also be
given to the Attorney General as required under Pa. O.C. Rule 5.5. In addition, the
Attorney General's clearance certificate (or proof of service of Notice and a copy
of such Notice) must be submitted herewith or at the Audit.
List all parties (charitable and non-charitable) of whom Petitioner(s) has/have notice or
knowledge, having or claiming any interest in the estate as beneficiaries under the Will or
Codicil(s) or as intestate heirs if there is a complete or partial intestacy:
A. State each party's relationship to the decedent and the nature of each party's
interest(s):
Form OC-0/ rev. lOJ3.06 Page 4 of 10
Estate of WILLIAM E. CLIFFORD
Deceased
B. Identify each party who is not.sui juris (e.g., minors or incapacitated persons}.
For each such party, give date of birth, the name of each Guardian and how each
Guardian was appointed. If no Guardian has been appointed, identify the next of
kin of such party, giving the name, address and relationship of each.
C. State why a Petition for Guardian/Trustee Ad Litem has or has not been filed for
this Audit (see Pa. O.C. Rule 12.4).
D. If distribution is to be made to the personal representative of a deceased party,
state date of death, date and place of grant of Letters and type of Letters granted.
Form OC-0/ rer. /0.13.06 Page 5 of 10
Estate of WILLIAM E. CLIFFORD
Deceased
12. The amount of Pennsylvania Transfer Inheritance Tax and additional Pennsylvania Estate
Tax paid, the date(s) of payment(s), and the interest(s) upon which paid, are as follows:
Dare Pavmenr Interest
March 7, 2008
Sept. ] 0, 2008
80,000.00 4,210.53
50.78
13. On the date of death, was the decedent a fiduciary
(personal representative, trustee, guardian, agent under power
of attorney) or surety on the bond of a fiduciary? ................... ~ Yes ~ No
If yes, provide the name of the estate, indicate whether an account has been tiled and
confirmed absolutely and all awards performed, or, in the alternative, how the
decedent's estate will be discharged for the decedent's fiduciary administration of the
estate.
14. A. Describe in detail any questions requiring adjudication and state the position of the
Petitioner(s) as to each question:
N!A
B. Has notice of the question requiring adjudication been given
to the parties identified in Paragraph 9 above? .................. ~ Yes ~ No
15. If Petitioner(s) haslhave knowledge that a share has been assigned, renounced, disclaimed
or attached, provide a copy of the assignment, renunciation, disclaimer or attachment,
together with any relevant supporting documentation.
Form OC-0/ rev. (!1.13.(!4 Page 7 of 10
Estate of WILLIAM E. CLIFFORD
Deceased
16. Had the decedent been adjudicated an incapacitated person? .......... ~ Yes ~ No
If yes, attach a copy of the Order if available; otherwise state the Court, term, number,
date, and name of Hearing Judge.
] 7. A. List or attach a separate list of additional receipts and disbursements since the closing
date of the Account.
None
B. Has notice of the additional receipts and disbursements been
given to the parties identified in Paragraph 9 above? ............. ~ Yes ~ No
] 8. If a reserve is requested, state amount and purpose.
Amor~nt: 61,177.3 S
P„rP°se: Martson Law Offices--balance attorney fee of $9,000.00
M&T Bank, Executor Fee--$50,677.35
Closing Filing Costs--$1,500.00
If a reserve is requested for counsel fees, has notice of the
amount of fees to be paid from the reserve been given to the
parties in interest? ........ . ............................... Yes ~No
If so, attach a copy of the notice.
19. Is the Court being asked to direct
the filing of a Schedule of Distribution? .......................... Yes ~No
As to real estate only? ........................................ Yes ~No
Form OC-~l rev. ro. i3, n6 Page 8 of 10
Estate of WILLIAM E. CLIFFORD
Deceased
Wherefore, your Petitioner(s) ask(s) that distribution be awarded to the parties entitled
and suggest(s) that the distributive shares of income and principal (residuary shares being stated
in proportions, not amounts) are as follows:
A. Income:
Proposed Distribatee(s) AmounUProportion
M&T Bank and Jane E. Clifford, Co-Trustees 100%
Disclaimer Trust under Will of William E. Clifford
FBO Marie A. Clifford as per Item Five of Will
B. Principal:
Proposed Distribatee(sJ
M&T Bank and Jane E. Clifford, Co-Trustees
Disclaimer Trust under Will of William E. Clifford
FBO Marie A. Clifford as per Item Five of Wil{
Anrorart/Propor•f ion
100%
Submitted By:
(All petitioners must sign.
Add additional lines if necessary}:
Nam of Petitioner: M&T Bank, Jane F. Burke, VP
of Petitioner:
E. Clifford
For•n:OC-0! r•ev. /0.!3.06 Page 9 of 10
Estate of WILLIAM E. CLIFFORD
Verification of Petitioner
(Verification must be by at least one petitioner.)
The undersigned hereby verifies * [that he~she she
Deceased
of the above-named name of cotporatron M&T Bank and] that the facts set
forth in the foregoing Petition for Adjudication /Statement of Proposed Distribution which are
within the personal knowledge of the Petitioner are true, and as to facts based on the information
of others, the Petitioner, after diligent inquiry, believes them to be true; and that any false
statements herein are made subject to the penalties of 18 Pa. C.S. § 4904 (relating to unsworn
falsification to authorities).
Si nature of Petitioner
* Corporate petitioners must complete bracketed information.
Certification of Counsel
The undersigned counsel hereby certifies that the foregoing Petition for Adjudication/
Statement of Proposed Distribution is a true and accurate reproduction of the form Petition
authorized by the Supreme Court, and that no changes to the form have been made beyond the
responses herein.
Signature of ounsel for Petitioner
is true Vice President
Fornr 0001 rev. !0. /3.06 Page 10 of 10
PROOF OF PUBLICATION
State of Pennsylvania, County of Cumberland
Troy_ Whitesel, Classified Advertising Manager, of The Sentinel, of the
County and State aforesaid, being duly sworn, deposes and says that THE SENTINEL,
a newspaper of general circulation in the Borough of Carlisle, County and State
aforesaid, was established December 13,1881, since which date THE SENTINEL has
been regularly issued in said County, and that the printed notice or publication
attached hereto is exactly the same as was printed and published in the regular editions
and issues of THE SENTINEL on the following day(s):
February 9,16, 23, 2008
COPY OF NOTICE OF PUBLICATION
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Letters Teetamentary~~~~~~~rb
CLIFFORD, late of the Borough of Carlisle,
Cumbaliand County, Pennsylvania, deceased, have
been granted to the undersigned.
Alf persons knowing themselves to be indebted to the
saki Estate will make payment Immediately, and those.
having claims will present them for settlement to:
M &T Bank and
Jane E. Clifford
1 W,,High Street
P.O. Box 220
Carlisle, PA 17013
Attorney: No V. Otto, iii, Esquire
Manson Law Offices
Affiant further deposes that he/she is not
interested in the subject matter of the
aforesaid notice or advertisement, and that
all allegations in the foregoing statement
as to time, place and character of
publication are true.
e-~.
Sworn to and subscribed before me this
25th day of Februar.~.
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Notary Pu c
My commission expires: ~/~~~~
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Christina L. Wdfe, Notary Publ'~c
Carlisle Boro, Cumberland County
My Commission Expires Sept 1.2006
Member. Pennsylvania Association Of Notaries
PROOF OF PUBLICATION
State of Pennsylvania, County of Cumberland
Troy Whitesel, Classified Advertising Mana er of The Sentinel, of the
County and State aforesaid, being duly sworn, deposes and says that THE SENTINEL,
a newspaper of general circulation in the Borough of Carlisle, County and State
aforesaid, was established December 13,1881, since which date THE SENTINEL has
been regularly issued in said County, and that the printed notice or publication
attached hereto is exactly the same as was printed and published in the regular editions
and issues of THE SENTINEL on the following day(s):
February 9,16, 23, 2008
COPY OF NOTICE OF PUBLICATION
Letters Testament~~ry~~~~sYa o11~eL~x.°bre
CLIFFORD, Iatebt the Borough of Carlisle, ,
Cumberland County, Pennsylvania, deceased, have
been. granted to the undersigned.
Ail persons knowing themselves to be indebted to the
said Estate wilt make payment immediately, and'those
having claims will present them for settlement to:
M & T Bank and
Jane E. Ctilfbrd
1 W, high Street. -
P.O. Box 220 .
Carlisle, PA 17013
Attorney: No V. Otto, ill, Esquire
Manson Law Offfoeis .
Affiant further deposes that he/she is not
interested in the subject matter of the
aforesaid notice or advertisement, and that
all allegations in the foregoing statement
as to time, place and character of
publication are true.
,..~''
Sworn to and subscribed before me this
25th day of February, 2008.
i
Notary Pu c
My commission expires: ~~~/~~
COMMONWEALTH OF PENNSYLVANIA
NoAarfal Seal
Christina L. Wdfe, Notary Public
Carlisle 13oro, Cumberland County
My Commission Expires Sept 1.2008
Member. Pennsylvania Association Of Notaries
F:~FILESIDATAFILE1Esul< Planning\ 10590-h. will
LAST WILL AND TESTAMENT
I, WILLIAM E. CLIFFORD, of the Borough of Carlisle, Cumberland County,
Pennsylvania, being of sound and disposing mind and memory, do hereby make, publish and declare
this to be my Last Will and Testament, hereby revoking any and all former Wills or Codicils by me
made.
ITEM ONE
I direct that all my legally enforceable debts, funeral expenses, testamentary expenses and
all inheritance taxes shall be paid to the extent possible from the assets held or passing under ITEM
FIVE hereof as soon as practicable after my decease and as part of the administration of my estate.
ITEM TWO
In the event my spouse shall predecease or fail to survive me by thirty (30) days, then I give
such items of personalty as are itemized in a certain list attached hereto to the persons named
thereon, which list is signed and dated by me at the end thereof.
ITEM THREE
If my spouse, MARIE A. CLIFFORD, is living thirty (30) days after my death, then I give,
devise and bequeath all of my estate, both real and personal property, unto my said spouse,
absolutely. If my said spouse does not so survive me, then I give, devise and bequeath all the rest,
residue and remainder of my estate, both real and personal property, unto my Trustee to be held or
distributed by such Trustee under ITEM FNE hereof.
ITEM FOUR
In the event my said spouse shall disclaim all or any portion of any devise or bequest made
to my spouse under the foregoing ITEM THREE, then the amount otherwise payable shall be held
by my Trustee under ITEM FIVE hereof. For purposes of the Trust established under ITEM FNE
hereof, my said spouse shall not be deemed to have predeceased me by virtue of my said spouse's
exercise of the right to disclaim set forth herein.
~~
[Initials]
Page 1 of 7 Pages
ITEM FNE
RESIDUARY AND DISCLAIMER TRUST
I~iy Trustee shall hold the assets received under ITEMS THREE and FOUR hereof, if any,
for the following purposes:
A. My Trustee shall pay the net income, at least quarter-annually, to my spouse, MARIE
A. CLIFFORD, for life. In addition, my Trustee in my Trustee's sole discretion, may invade the
principal of the Trust for the proper and adequate support of my said spouse.
B. My Trustee shall further pay to my said spouse, annually, such sum from the principal
of the Trust as my said spouse may request in writing, provided, however, that said sum may not
exceed the greater of Five Thousand Dollars ($ 5,000.00) or five percent (5%) of the aggregate value,
at the time of said request, of the principal of the Trust hereunder.
C. Upon the death of my said spouse, or upon my death if my spouse shall not survive
me by thirty (30) days, my Trustee shall distribute the principal of the Trust to my children, PAUL
H. CLIFFORD and JANE E. CLIFFORD, in equal shares, absolutely.
D. In the event that either of my said children shall fail to survive my spouse and me, but
shall leave issue surviving, then such deceased child's share shall be held by my Trustee and the net
income therefrom shall be used for the support, maintenance and education of the issue of such
deceased child. My Trustee shall use as much of the principal as it shall deem desirable for said
purposes. My Trustee shall distribute absolutely the principal of such share of such deceased child
to the issue of such deceased child per stirpes as each shall attain the age oftwenty-five (25) years.
Izi the event that either of my said children shall fail to survive my spouse and me and not leave issue
surviving, then such deceased child's share shall be added to the shares of my other said child as if
originally a part thereof.
ITEM SIX
POWERS OF EXECUTORS AND TRUSTEES
In addition to the powers conferred by case law, by statute, and by other provisions hereof,
my Executors and Trustees and their successors, shall have the following discretionary powers
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[Initials]
Page 2 of 7 Pages
applicable to all property held by them which powers shall be effective without order of any court
and shall exist until final distribution.
A. To retain any property of any nature received by them for whatever period they shall
deem advisable;
B . To invest and reinvest all or any part of said property in such stocks, bonds, common
trust funds, securities, accounts, certificates of deposit (including, but not limited to, stocks, bonds,
common trust funds, securities, accounts or certificates of deposit of the Trustee) or other property,
real or personal, as in their discretion they shall deem proper, without regard to statutes limiting the
property which a fiduciary may purchase;
C. To sell, transfer, exchange or otherwise dispose of, any part of said property, for cash
or on terms, publicly or privately, or to lease, even for a term exceeding five (5) years or the duration
of any trust herein, without liability on the purchasers or lessees to see to the application of the
proceeds, and to give options for these purchases without the obligation to repudiate them in favor
of a higher offer;
D. To execute and deliver any deeds, leases, assignments or other instruments as may
be necessary to carry out the provisions of any trust hereunder;
E. To borrow money, including the right to borrow money from any bank and to
mortgage or pledge any asset of the estate as security;
F. To assume continuance ofthe status of anybeneficiarywith regard to death, mamage,
divorce, illness, incapacity and the like in the absence of information deemed reliable without
liability for disbursements made on such assumption;
G. To pay from the trust, or the income therefrom, all debts or claims against my estate,
or any taxes or similar charges on my estate;
H. To make any distribution hereunder either in kind or in money, or partially in kind
and partially in money. Distribution in kind shall be made at the market value of the property
distributed, and my Trustee, in my Trustee's absolute discretion, may cause the share distributed to
any distributee to be composed of property similar to or different from that distributed to any other
distributee;
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[Initials]
Page 3 of 7 Pages
I. To exercise any subscription right in connection with any security held hereunder, to
consent to or participate in any recapitalization, reorganization, consolidation or merger of any
corporation, company or association, the securities of which may be held hereunder, to delegate
authority with respect thereto, to deposit investments under agreements, to pay assessments, and
generally to exercise all rights of investors;
J. To invest in endowment, insurance or annuity policies on the lives of beneficiaries
of any trust hereunder;
K. To continue in any partnership, joint venture, joint ownership or other business
enterprise of which I am a part at the time of my death;
L. To compromise claims;
M. To continue for whatever period of time as they shall deem necessary any ownership
as a tenant in common or as a partner, in real estate or other property and to act as I could have done
had I been living;
N. To lend money to my estate or to any trust created hereunder or to purchase from the
estate or from any trust created hereunder, at the market value thereof at the time of purchase, any
securities or other property tendered to them by my estate or any trust created hereunder at any time
and from time to time within a period of nine (9) months after my death;
O. In the event that any amounts are payable hereunder or under any trust created
hereunder to a minor, or to a person otherwise under legal disability, or to a person not adjudicated
to be an incapacitated person, but who, by reason of illness or mental or physical disability is, in the
opinion of the fiduciary(ies) hereunder, unable to properly administer such amounts, such amounts
may be paid by the fiduciary(ies) hereunder in his, her or their sole discretion in any of the following
ways as he, she or they may deem best:
1. Directly to such beneficiary;
2. To a legally appointed guardian of such beneficiary for the benefit of such
beneficiary;
3. To a person having custody of such beneficiary for the benefit of such
beneficiary;
[Initials]
Page 4 of 7 Pages
ITEM NINE
WAVER OF BOND
I direct that my Executors and Trustees, and their successors, shall not be required to file any
bond in any jurisdiction to secure the faithful performance of their duties, nor shall they be required
to obtain any order or approval of any court for the exercise of any power or discretion set forth in
this Will.
N WITNESS WHEREOF I have hereunto set my hand and seal this l5~ day of
CfiC~ ~~ , 2003.
' (SEAL)
illiam E. Clifford
SIGNED, SEALED, PUBLISHED AND DECLARED by the above-named Testator, as and
for his Last Will and Testament, in the presence of us, who at his request, have hereunto subscribed
our am s i esses thereto, in the presence of the said Testator and of each other.
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COMMONWEALTH OF PENNSYLVANIA
SS.
COUNTY OF CUMBERLAND )
We, William E. Clifford, No V. Otto III, and %~~~ ~~~:~ .~ ~` , ~ ,
the Testator and the witnesses, respectively, whose names are signed to the foregoing instrument,
being first duly sworn, do hereby declare to the undersigned authority that the Testator signed and
executed the instrument as his last Will and that the Testator has signed willingly, and that the
Testator executed it as his free and voluntary act for the purposes therein expressed, and that each
of the witnesses, in the presence and hearing of the Testator, signed the Will as a witness and that
to the best ofhis/her knowledge the Testator was at that time eighteen years of age or older, of sound
mind and under no constraint or undue influence.
Witness
l
William E_ .Clifford, Testator
lj~ ~~
Witness
Subscribed, sworn to and acknowledged before me by William E. Clifford, the Testator, and
subscribed and sworn to before me by Iyyo V. Otto III and U tC,fo rr cc, ~- ~ D-Hz~ ,
the witnesses, this lay of 9~~f' , 2003.
NOTARIAL SEAL
CORRINE L. MYERS, NOTARY PUBLIC
CARLISLE BORN. COUNTY OF CUMBERLAND
MY COMMISSION EXPIRES MAY 27, 2007
No Public
Page 7 of 7 Pages
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MF:IFILES\Climts\ 10590 Clifford\ 10590.2.disclaimecrev
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ESTATE OF WILLIAM E. CLIFFORD. DECEASED ~ ~ ~ J f 1 T •'
f y ~,
. NO. 21-08-0088 ~ r ~" --- -~~
DISCLAIMER AND RENUNCIATION ~ - ~ ~ ~~ `~ `-`~
To: Jane E. Clifford and ~-
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Manufacturers and Traders Trust Company ~'=' ~
, ,
~-
Executors of the Estate of William E. Clifford `~
I, MARIE A. CLIFFORD, by her Agent, JANE E. CLIFFORD, appointed in Power of Attorney
dated July 17, 2003 (copy attached hereto), hereby exercise the rights granted to me in Chapter 62 of the
Probate, Estates and Fiduciaries Code (the "PEF Code"), and I hereby disclaim and renounce any interest
to which I may be entitled under Item Three of the Last Will and Testament of William E. Clifford dated
October 1 S, 2003, and under applicable law, to the following assets or proceeds from the sale thereof:
Probate Assets of Decedent: Date of Death Value
156 shares Prudential Financial @ 96.87 15,111.72
Accrued interest to 1 S6 shares Prudential Financial 179.00
M&T Brokerage Account No. AZD-280600 [see Estate
Valuation attached identified as File ID: 1OS90.2.M&T] 1,808,427.04
M&T Checking Account No. 2675049932 4,824.28
Total Probate Assets of Decedent 1,828,542.04
Decedent's one-half interest in Assets owned iointlY with Marie A. Clifford, spouse:
2000'shares Exxvn Mobil Corp @ 92.07 [184,140.00] 92,070.00
Mellon Account [see Estate Valuation attached identified
as File ID: 1OS90.2.mellon] 75,093.71
Portion of Stifel Nicolaus & Co [see Estate Valuation attached
identified as File ID: 1OS90.2.stifel] 72,916.38 240,080.09
Less portion of above funds used for estate expenses
M&T Bank, fee 50,677.35
Manson Law Offices, fee 25,000.00
Administration expenses ~ 1,400.00
Funeral expenses 7,494.00
PA Inheritance Tax 80,OS0.78 -164,622.13
TOTAL FUNDS DISCLAIMED 1,904,000.00
IN WITNESS WHEREOF, intending to be legally bound hereby and intending that this
Disclaimer and Renunciation shall be filed of record in the Office of the Clerk of the Orphans' Court
Division of the Court of Comrnon Pleas of Cumberland County, Pennsylvania, as, provided in Section
6204 of the PEF Code, I have hereunto set my hand and seal this :~T ' day of '~t~~'t~~ ~ , ~='<<`rY
r' ,J4 ~.
~Y~ne E. Clifford, Agei`t{ for
~Y~Iane A. Clifford ~~
COMMONWEALTH OF PENNSYLVANIA
ss.
COUNTY OF ~ f~-cl~c~~?~<<< ~ ) ,r
On this, the ~~~ day of ,%''`~--'~-~Lt' , 2008, before me, a Notary Public, the
undersigned officer, personally appeared Jane E. Clifford, known to me (or satisfactorily proven) to be
the person whose name is subscribed as agent for Marie A. Clifford, and acknowledged that she executed
the same as the free act of her principal for the purposes ther~ifi contained.
~ L,' ~
Notary Publi ~ '
COMMONWEALTH OF PENNlYLYAPNA
NOTARIAL SEAL ~ ~,
OYANNE J. GLASS, Notary Pubic
Oily of Philadelphia, Phila. County ~~ ~ c~
Corrrnaewn November 2,1010
F-..\FILES\D.47AFiLE`Estate PlanninQ110590-w.poa
POWER OF ATTORI~IEY ~ O i ~ ~I
MARIE A. CLIFFORD
to
WILLIAM E. CLIFFORD
or JANE E. CLIFFORD
NOTICE
THE PURPOSE OF THIS POWER OF ATTORNEYIS TO GIVE THE PERSON YOU
DESIGNATE (YOUR "AGENT') BROAD POWERS TOHANDLE YOUR PROPERTY, WHICH
MAY INCLUDE POWERS TO SELL OR OTHER WISE DISPOSE OF ANY REAL OR
PERSONAL PROPERTY WITHOUT AD VANCE NOTICE TO YOUOR APPRDVAL BY YOU.
THIS POWER OFATTORNEY DOES NOT IMPOSE A D UTY ON YO UR AGENT TO
EXERCISE GRANTED POWERS, B UT WHENPOWERS ARE EXERCISED, YO UR AGENT
MUST USED UE CARE TO ACT FOR YOUR BENEFITAND INACCORDANCE WITH THIS
POWER OFATTORNEY.
YOURAGENTMAYEXERCISE THEPOWERS GIVENHERE THROUGHOUT YOUR
LIFETIME, EVENAFTER YOUBECOMEINCAPACITATED, UNLESS YOUEXPRESSLY
LIMIT THE DURATION OF THESE POWERS OR YOUREVOKE THESE POWERS OR A
COURT ACTING ON YOUR BEHALF TERMINATES YOUR AGENT'S A UTHORITY.
YOUR AGENT MUST KEEP YOUR FUNDS SEPARATE FROM YOUR AGENT'S
FUNDS.
A COURT CAN TAKE AWAY THE POWERS OF YOUR AGENT IF IT FINDS YOUR
AGENT IS ~YOT ACTLYG PROPERLY.
THE POWERS AND DUTIES OF A1Y AGENT UjVDER A POWER OF ATTORNEY
ARE EXPLALVED ,tiIORE FULLY IN THE PENivSYLVA~VIA PROB:4TE, ESTATES A,YD
FIDUCIARIES CODE, 20 PA. GS. CHAPTER 56.
IF THERE ISA,~"YTHLVGABOL%T THIS FOR.tiI THAT YOL'DO ~~'OT U:~'DERSTA ND,
YOL'SHOL%LD ASKA LAWYER OF YOUR OjV,'~'CHOOSI,VG TO EXPL<~INIT TO YOG:
I HA VE READ OR H:9D E.YPLAL~ED TO.tiIE THIS NOTICE A.VD I U~~DERSTAND
ITS COIVTE,VTS.
~? i % / ~
Date: -/ , ~ ~ -><:~;-_ ~;.~ ~ ~ ! ,
~f n A Cl i fford -~
i~
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-1-
I, MARIE A. CLIFFORD, of 1001 Hillside Drive, Carlisle, PA,17013, hereby revoke any
general power of attorney that I have heretofore given to any person and do hereby appoint
WILLIAiVI E. CLIFFORD, of 1001 Hillside Drive, Carlisle, PA, 17013, or in the event he is
unable or unwilling to so act, I appoint my daughter, JANE E. CLIFFORD, of 500 Penn Valley
Road, Narberth, PA, 19072, as my agent ("my agent") with full power of substitution, forme and
in my name, to transact all my business and to manage all my property and affairs as I might do if
personally present, including but not limited to exercising the following powers.
Durable Power of Attorney
This power of attorney shall not be affected by my subsequent disability or incapacity. All
acts. done by my agent pursuant to this power during any period of my disability or incapacity shall
have the same effect and enure to my benefit and bind me and my successors in interest as if I were
competent and not disabled.
Powers of Agent
I hereby empower my agent to do any or all of the following, each of which is fully defined
and explained in Section 5603 of the Pennsylvania Probate, Estates and Fiduciaries Code, 20 Pa.
C.S. § 5603, to include, without limitation, all amplification of such powers as specified therein:
To make gifts for and on behalf of myself to any donees (including my agent) and in
such amounts as my agent may decide. [General gift power.]
In addition to the gifts authorized above, a gift made pursuant to such power maybe
for the tuition or medical care of any permissible donee to the extent that the gift is
excluded from the federal gift tax as a qualified transfer. My agent may consent,
pursuant to the Internal Revenue Code, to the splitting of gifts made by my spouse
to my issue or a spouse of my issue in any amount and to the splitting of gifts made
by my spouse to any other person in amounts not exceeding the aggregate annual gift
tax exclusion for both myself and my spouse under the Internal Revenue Code.
2. To create a trust for my benefit.
3. To make additions to an existing trust for my benefit.
4. To claim an elective share of the estate of my deceased spouse.
5. To disclaim any- interest in property.
6. To renounce f duciary positions.
7. To withdraw and receive the income or corpus of a trust.
-2-
8. To authorize my admission to a medical, nursing, residential or similar facility and
to enter into agreements for my Gaze.
9. To authorize medical and surgical procedures.
Z0. To engage in real property transactions.
11. To engage in tangible personal property transactions.
1 Z. To engage in stock, bond and other securities transactions.
13. To engage in commodity and option transactions.
]4. To engage in banking and financial transactions.
15. To borrow money.
16. To enter safe deposit boxes.
17. To engage in insurance transactions.
18. To engage in retirement plan transactions.
19. To handle interests in estates and trusts.
20. To pursue claims and litigation.
21. To receive government benefits.
22. To pursue tax matters.
23. To make an anatomical gift of all or part of my body.
24. To do all other things which my agent shall deem necessary and proper in order to
cant' out the foregoing powers which shall be construed as broadly as possible.
Reliance on Power
This power maybe accepted and relied upon by anyone to whom it is presented until such
person either receives written notice of revocation by me or a guardian or similar fiduciary of my
estate or has actual knowledge of my death.
Hold Harmless
All actions of my agent shall bind me and my heirs, distributees, legal representatives,
successors and assigns, and for the purpose of inducing anyone to act in accordance with the powers
I have granted herein, I hereby represent, warrant and agree that if this power of attorney is
-3 -
terminated or amended for any reason, I and my heirs, distributees, legal representatives, successors
and assigns will hold such party or parties harmless from any loss suffered or liability incurred by
such party or parties while acting in accordance with this power prior to that party's receipt of
written notice of any such termination or amendment.
Pennsylvania Law Governs
Questions pertaining to the validity, construction and powers created under this instrument
shall be determined in accordance with the/laws of the Commonwealth of Pennsylvania.
Signed this ~~_ day of ~ / _ , 2003.
WITNESS:
i~ , , ~ -~+f --
J /~ C"l
Marie A. Clifford
Social Security No.: U 3y /3 5
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
SS.
On this, the / 7 ~`" day of ~u~-- 2003, before, me, the
undersigned officer, personally appeared Marie . Cli ford, Principal, the person whose name is
subscribed to the within instrument, and acknowledged that she executed the same for the purposes
therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
,cG ~` ~~ (SEAL)
No ary Public '~
NOTARIAL SEAL
CORRINE L. MYERS, NOTARY PUBLIC
CARLISLE 80R0, CGUNTY OF CUhIBERLANO
MY CUPRMISSICN EXPIRES'r!AY 27, 2007
-4-
ACKNOWLEDGNIEVT BY AGENT
I, J?u'vE E. CLIFFORD, HAVE READ THE ATTACHED POWER OF ATTORNEY
AND AiV1 THE PERSON IDENTIFIED AS THE AGENT FOR THE PRINCIPAL. I
HEREBY ACKNOWLEDGE THAT IN THE ABSENCE OF A SPECIFIC PROVISION TO
THE CONTRARY IN THE POWER OF ATTORNEY OR IN THE PENNSYLVANIA
PROBATE, ESTATES Ai~1D FIDUCIARIES CODE, 20 PA. C.S, l O1,ET. SEQ., WHEN I ACT
AS AGENT:
1. I SHALL EXERCISE THE POWERS FOR THE BENEFIT OF THE
PRINCIPAL.
2. I SHALL KEEP THE ASSETS OF THE PRINCIPAL SEPARATE FRONT MY
ASSETS.
3. I SHALL EXERCISE REASONABLE CAUTION AND PRUDENCE.
Q. I SHALL KEEP A FULL AND ACCURATE RECORD OF ALL ACTIONS,
RECEIPTS AND DISBURSEMENTS ON BEHALF OF THE PRINCIPAL.
Date: ~ `/.~ ~" / '~ "~~ t -,
.~
J e E. Cliffor , ~, t
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
SS.
On this, the ~ day of ~`.~, ~ 2003, before, me, the
undersigned officer, personally appeared' Jane Cli ord, Agent, the person whose name is
subscribed to the within instrument, and acknowledged that she executed the same for the purposes
therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
--~, ~ , ~, / ,., (SEAL)
No ary Public
NOTAflIAL SEAL
CORR-NE L. MIYERS, NOTARY PUBLIC
CARLISLE BORO. COUNTY OF tUbiBERLANO
N1Y COM"~tIS~!0"! E,YPRES "~?AY ~i , ?_(?07
-~3-
Estate Valuation
Date of Death: 12/10/2007 Estate of: Will iam E Clifford
Valuation Date: 12/10/2007 Ac count: 10590.2
Processing Date: 09/04/2008 Report Type: Date of Death
Number of Securities: 20
File I D: 10590.2.M&T
Shares Security Mean and/or Div and Int Security
or Par Description High/Ask Low/Bid Adju stments Accruals Value
1) 25000 GNMA PASS-THRU X SINGLE FAMILY (36218EKB6)
OTC
Mat: 10/15/2017 10.0008 Fact: 0.01067239
12/10/2007 115.08297 A/B
115 .082974 307.05
Int: 12/01/2007 to 12/10/2007 0.67
Int: 11/2007, payable 12/15/2007 2.24
Prin: 11/2007, payable 12/15/2007 1.53
2) 25000 GNMA PASS-THRU X SINGLE FAMILY (36220XK87)
OTC
Mat: 07/15/2020 9.500 Fact: 0.00123031
12/10/2007 109.60515 A/B
109 .605150 33.71
Int: 12/01/2007 to 12/10/2007 0.07
Int: 11/2007, payable 12/15/2007 0.25
Pzin: 11/2007, payable 12/15/2007 0.34
3) 94 ALCATEL-LUCENT 1013904305)
SPONSORED ADR
NYSE
12/10/2007 8.20000 8.09000 H/L
8 .145000 765.63
4) 168 DPL INC (233293109)
NYSE
12/10/2007 31.00000 30.65000 H/L
30 .825000 5,178.60
5) 200 EXELON CORP (30161N101)
NYSE
12/10/2007 86.36000 85.01000 H/L
85 ,685000 17,137.00
61 5500 FEDERAL NATL MTG ASSN (313586109)
NYSE
12/10/2007 38.28000 36.07000 H/L
37. 175000 204,962.50
7) 50 FIRSTENERGY CORP (3379321071
NYSE '
12/10/2007 74.27000 73.36000 H/L
73. 815000 3,690.75
8) 4800 GENERAL ELECTRIC CO (369604103)
NYSE
12/10/2007 37.49000 37.05000 H/L
37. 270000 178,896.00
91 200 GLAXOSMITHKLINE PLC (37733W105)
NYSE
12/10/2007 53.57000 52.95000 H/L
53. 260000 10,652.00
Div: 0.53258 Ex: 10/31/2007 Rec: 11/02/2007 Pay: 01/10/2008 106.52
10) 501 OCCIDENTAL PETE CORP DEL (674599105)
flYSE
12/10/2007 73.08000 71.58000 H/L
72. 330000 36,237.33
Div: 0.25 Ex: 12/06/2007 Rec: 12/10/2007 Pay: 01/15/2008 125.25
11) 3500 PPL CORP {693517106)
NYSE
12/10/2007 54.29000 53.84000 H;'L
54. 065000 1s 5, 162.50
Div: 0.305 Ex: 12iC6/2C07 Rec: 12/10;2007 Pay: 01 /01;2008 762.50
Page 1
This report was produced with EstateVal, a prcduct of Estate Valuations & Pricing Systems, Inc. If you have questions,
please contact EVP Systems at (818) 313-6300. (Revisicn 6.4.1)
Date of Death: 12/10/2007
Valuation Date: 12/10/2007
Processing Date: 09/04/2008
Shares Security
or Par Description
Estate of: William E Clifford
Account: 10590.2
Report Type: Date of Death
Number of Securities: 20
File ID: 10590.2.M&T
Mean and/or Div and Int Security
High/Ask Low/Bid Adjustments Accruals Value
12) 73 PEPCO HOLDINus lrvu ~ u~iyllui)
NYSE
12/10/2007 29.31000 28.97000 H/L
29 .140000 2,127 .22
Div: 0.26 Ex: 12/06/2007 Rec: 12/10/2007 Pay: 12/31/2007 18.98
13) 15 PIPER JAFFRAY COS (724078100)
NYSE
12/10/2007 99.34000 47.23000 H/L
48 .285000 724 .27
14) 7200 RAYTHEON CO (755111507)
COM NEW
NYSE
12/10/2007 65.40000 64.61000 H/L
65 .005000 468,036 .00
151 600 SOUTHERN CO (842587107)
NYSE
12!10/2007 39.35000 38.86000 H/L
39 .105000 23,463 .00
16) 4000 SUNTRUST BKS INC (867914103)
NYSE
12/10/2007 71.55000 69.79000 H/L
70 .670000 282,680 .00
Div: 0.73 Ex: 11/28/2007 Rec: 11/30/2007 Pay: 12/1 9/2007 2,920.00
17) 2900 US BANCORP DEL (902973304)
COM NEW
NYSE
12/10/2007 33.87000 33.02000 H/L
33. 445000 80,268. 00
18) 649 WACHOVIA CORP NEW (929903102)
NYSE ,
12/10/2007 95.14000 43.09000 H/L
44. 110000 28,627. 39
Div: 0.69 Ex: 11/28/2007 Rec: 11/30/2007 Pay: 12/17/2007 415.36
19) 10000 WELLS FARGO & CO NEW (949746101)
NYSe ,
12/10/2007 32.90000 31.76000 H/L
32. 330000 323,300. 00
20) 250 PITTSBURGH & W VA RR (724819107)
ASE
1Z/07/2007 9.29000 9.21000 H/L
12/11/2007 9.11000 9.11000 H/L
9. 167500 2,291. 88
Div: 0.13 Ex: 12/05/2007 Rec: 12/07/2007 Pay: 12/28/2007 32.50
Total Value: $1,809,042.70
Total Accrual: $4,389.34
Total: $1,808,427.04
Page 2
This report was produced with EstateVal, a product cf Estate Valuatiens & Pricing Systems, inc. If you have quesr_ions,
please contact EVP Systems at {818) 313-6300. (Revision 6.4.1)
Estate Valuation
Date of Death: 12/10/2007
Valuation Date: 12/10/2007
Processirq Date: 09/04/2008
Estate of: William E. Clifford
Account: Mellon
Report Type: Date of Death
Number of Securities: 5
File ZD: 10590.2.mellon
Shares Security Mean andlor Div and Int Security
or Par Description High/Ask Low/Bid Adjustments Accruals Value
11 249 ALCATEL-LUCENT (013904305; ALUI
SPGNSORED ADR
NYSE
12/10/2007 8.20000 8.09000 H/L
8.14500f
2) 100 TERADATA CORP DEL (88076W103; TDC)
COM
NYSE
12/10{2007 26.86000 26.44000 H/L
26.65000C
3) 1950 JPMORGAN & CHASE & CO (46625H100; JPM)
COM
NYSE
12/10/2007 47.87000 46.55000 H/L
47.21004C
4) 100 NCR CORP NEW (62886E108; NCR)
COM
NYSE
12/10/2007 25.33000 24.31000 H/L
29.820000
5) 1465 VODAFONE GROUP PLC NEW (92857W209; VOD)
SPONS ADR NEW
NYSE
12/10/2007 37.70000 37.33000 H!L
37.515000
Div: 0.48761 Ex: 11/20/2007 Rec: 11J2312007 Pay: 02/01/2008
Total Value:
Total Acciual:
Total: $150,187.42
2,028.10
2,665.00
87,338.50
2,482.00
54,959.47
714.35
$149,973.07
$714.J5
Page 1
This report was produced with EstateVai, a prcduct of Estate Valuations ~ Pricing Systems, irc. If you have questions,
please can tact c^^/P Systems at (818) 313-6300. (Revision 6.4.1)
Estate Valuation
Date of Death: 12/10/2007
Valuation Date: 12/10/2007
Processing Date: 09/04/2008
Shares Security
or Par Description
1) 71 SPDR GOLD TRUST (863307104; GLD)
GOLD SHS
Pacific
12!1012007
2) 137 ISHARES INC (464286400; EHr2)
MSCI BRAZIL
Pacific
12/10/2007
3) 93 ISHARES INC (464286772; EWY)
MSCI S KOREA
Pacific
12/10/2007
4) 184 ISHARES INC (92923H608; E4JG)
MSCI GERMAN
Pacific
12/10/2007
5) 51 ISHARES TR (464287176; TIP)
US TIPS BD FD
Pacific
12/10/2007
61 159 ISHARES TR (464287242; LQD)
IBOXX INV CPBD
Pacific
12/10/2007
7) 304 ISHAAES TR (464287908; IVE)
SAP 500 VALUE
Pacific
lzrla/2oo7
el 47 ISHARE5 TR (464287432; TLT)
20+ YR TRS BD
Pacific
12/10/Z007
91 62 ISHARES TR (464287940; IEF)
7-10 YR TRS HD
Pacific
12/10/2007
10) 128 ISHARES TR (464287457; SHY)
1-3 YR TRS HD
Pacific
12/10!2007
11) 148 ISHARES TR (464287705; IJ.i)
S6P MIDCP VAi:U
Facific
12,'10/2007
12) 30 LSHARES TR (HYG}
HIGH YLD CORP
ASE
Estate of: William E. Clifford
Account: 10540.2
Repent Type: Date of Death
Number of Securities: 15
File ID: 10590.2.stifel
Mean and/or Div and Int Security
High(Ask LowlBid Adjustments Accruals Value
80.30000 79.13000 H/L
79.715000 5,659.77
85.96000 84.59000 H/L
85.275000 11,682.68
61.94000 67.29000 H/L
67.615000 6,288.19
36.58000 36.31000 H/L
36.445000 6,705.88
104.50000 103.99000 H/L
104.245000 5,316.49
104.56000 103.92000 H/L
104.240000 16,574.16
80.50160 79.61000 H/L
80.055800 24,336.96
91.69000 90.75000 H/L
91.220000 4,287.34
86.47000 85.93000 H/L
86.200000 5,394.40
82.21000 82.07000 H/L
82.140000 17,513.92
83.73000 92.77720 H!L
83.253610 12,321.53
12;10!2007 101.64000 100.73000 HIL
101.185000 3,035.55
Page 1
This report •eas produced with EstateVai, a prcduct of Estate Valuations & Pricing Systems, inc. If you have ~:estions,
please contact EVP Systems at (819} 313-6300. (Revision 6.9.1)
Cate of Death: 12/10/X07
Valuation Date: :2/10/ X07
Processirq Cate: G9/04;2CC8
Shares Security
cr Par C~scription
HighlASk La~1Bid
Estate of: William E. Clifford
Account: 10590.2
Repozt Type: Oate of Ceath
6;umber of Securities: 15
File ID: 1)590.2.stifei
yean and/or Civ and Int Security
Ad~ustrt:ents Accruals Value
13) 2A3 iSHARES TR {464288885; EFv}
MSCI GRW IDX
Pacific
12l1C12~G7 82.09CGG 81.1GG0 H/L
81.595GGG 23,091.36
1 a ) z 91 `b~E~I3.IARn jrD ED MID C~'P C~r~TH 66.3 ~ 65.92
66
135 245.2E
19
,rrsE . ,
C1l27(2CG6
Last price available on GI/27/2006
151 87] VANGUARC INDEX FDS (VUG)
GRCW"tH ETF
ASE
12/10/2007 66.46000 65.95000 H/L
66.205000 57,796.96
212,200.49
Total Value:
50.00
Total Accrual:
Total: $212,200.99
?;i;; _ ..
'..._ _•rFCrt d~iS _=_.red '.il _.. ~.. C.lt 2'.d_. ~•.•...__ ... ~_.-~' '.t:~1. _ .:S .-. '___ 3t..... _..... :_° fCl ...~.. _ `s`i.•.~,
. ..se c•7::_..__ cG. 5t=•iLS nt t.ii~i ?_--6..,,. :?e:V'___~' c.•i,11
Z , ~6~ , ~9g .qg
ra
r.,
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PA
ORPHANS' COURT DIVISION
FILE N0. 21-08-0088
ESTATE OF WILLIAM E. CLIFFORD
n ~ :~..,
r._ x, :~
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r-~ Z ~ ~ -,
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FIRST AND FINAL ACCOUNT OF
MANUFACTURERS AND TRADERS TRUST COMPANY AND
JANE E. CLIFFORD, CO-EXECUTORS
Date of Death: December 10, 2007
Date of Executor's Appointment:
January 24, 2008
Date of First Complete Advertisement:
Cumberland Law Journal
The Sentinel
February 8, 15 and 22, 2008
February 9, 16 and 23, 2008
Accounting for the period: December 10, 2007 to
April 1, 2009
Purpose of Account: The Co-Executors offer this Account to acquaint
interested parties with,the transactions that have occurred during the
Administration.
It is important that the Account be carefully examined. Requests for
additional information, questions or objections can be discussed with:
Jane F. Burke, Vice President
Manufacturers and Traders Trust Company
One West High Street
Carlisle, PA 17013
(717) 240-4504
Or
Martson Law Offices
Ten East High Street
Carlisle, PA 17013
- 1 -
SUMMARY OF ACCOUNT
PRINCIPAL
PAGES
Receipts
Net Loss on Sales or Disposition
Less Disbursements:
Funeral Expenses
Legal Fees
Federal State & Local Taxes
Administration - Misc. Exp.
Balance before Distributions
Principal Balance on Hand
For Information:
Changes in Holdings
INCOME
Receipts
Less Disbursements
Balance before Distributions
Income Balance on Hand
COMBINED BALANCE ON HAND
Proposed Principal Distributions
Proposed Income Distributions
Verification
3-5 $ 2,068,423.55
6-9 -211,287.70
$ 1,857,135.85
10 $ 7,494.00
10 16,314.18
10 80,000.00
10 62,387.35 -166,195.53
$ 1,690,940.32
11-12 $ 1,690,940.32
13-19
20-24 $ 40,075.43
25 -9,747.92
$ 30,327.51
26 $ 30,327.51
$ 1,721,267.83
27-28
29
30-31
- 2 -
PRINCIPAL RECEIPTS
Assets Listed in Inventory
(Valued as of Date of Death)
Bonds
$307.05 GNMA Pass-Thru X Single Family
10~ due 10/15/17 - Received from M&T
Securities Account
Interest accrued to 12/10/07
$33.71 GNMA Pass-Thru X Single Family
9.5~ due 7/15/20 - Received from M&T
Securities Account
Interest accrued to 12/10/07
Common Stocks
168 Shs. DPL Incorporated - Received
from M&T Securities Account
200 Shs. Exeleon Corporation - Received
from M&T Securities Account
5,500 Shs. Federal National Mortgage
Association - Received from M&T
Securities Account
50 Shs. First Energy, Corporation -
Received from M&T Securities Account
4,800 Shs. General Electric Company -
Received from M&T Securities Account
501 Shs. Occidental Pete Corporation -
Received from M&T Securities Account
Accrued Dividend
73 Shs. Pepco Holdings Incorporated -
Received from M&T Securities Account
Accrued Dividend
15 Shs. Piper Jaffray Companies
Incorporated - Received from M&T
Securities Account
FORWARD
- 3 -
$ 307.05
4.44
33.71
.66
5,178.60
17,137.00
204,462.50
3,690.75
178,896.00
36,237.33
125.25
2,127.22
18.98
724.27
$ 448,943.76
PRINCIPAL RECEIPTS (cont'd)
FORWARD
Common Stocks (cont'd
250 Shs. Pittsburgh & West Virginia Rail
Road - Received from M&T Securities
Account
Accrued Dividend '
2,500 Shs. PPL Corporation - Received
from M&T Securities Account
Accrued Dividend
156 Shs. Prudential Financial
Accrued Dividend
7,200 Shs. Raytheon Company - Received
from M&T Securities Account
600 Shs. Southern Company - Received
from M&T Securities Account
4,000 Shs. SunTrust Banks Incorporated -
Received from M&T Securities Account
Accrued Dividend
2,400 Shs. US Bancorp New - Received
from M&T Securities Account
649 Shs. Wachovia Corporation - Received
from M&T Securities Account
Accrued Dividend
10,000 Shs. Wells Fargo & Company -
Received from M&T Securities Account
Foreign Stocks
94 Shs. Alcatel-Lucent - Spon Adr -
Received from M&T Securities Account
200 Shs. GlaxoSmithKline PLC Sponsored
ADR - Received from M&T Securities
Account
Accrued Dividend
FORWARD
$ 448,943.76
2,291.88
32.50
135,162.50
762.50
15,111.72
179.40
468,036.00
23,463.00
282,680.00
2,920.00
80,268.00
28,627.39
415.36
323,300.00
765.63
10,652.00
106.52
$ 1,823,718.16
- 4 -
PRINCIPAL RECEIPTS (cont'd)
FORWARD
M&T Bank Checking Account #9843933939
SUBSEQUENT RECEIPTS
CASH:
03/10/08 Received from M&T Securities (Pershing)
- Addition to Account
04/22/08 USAA Insurance Refund
11/10/08 Pro-Rata Share of Stifel Nicolaus -
Addition to Account
STOCKS:
10/15/08 1,000 Shs. Exxon Mobil Corporation -
Received
10/30/08 124 Shs. Alcatel-Lucent - Spon Adr -
Received
10/30/08 50 Shs. Teradata Company - Received
10/30/08 925 Shs. J.P. Morgan Chase & Company -
Received
10/30/08 50 Shs. NCR Corporation - Received
10/30/08 732 Shs. Vodafone Group PLC Sponsored
' Adr - Received
TOTAL PRINCIPAL RECEIPTS
$ 75.02
106.00
72,916.38
$ 92,070.00
1,009.98
1,332.50
43,669.25
1,241.00
27,460.98
$ 1,823,718.16
4,824.28
$ 1,828,542.44
73,097.40
166,783.71
$ 2,068,423.55
------------------
------------------
- 5 -
PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS
GAIN LOSS
03/17/08 51.57 GNMA Pass-Thru X Single Family 100
due 10/15/17 - Paid down
Net Proceeds 1.57
Acquisition Value 1.83
03/17/08 $0.20 GNMA Pass-Thru X Single Family
9.5o due 7/15/20 - Paid down
Net Proceeds .2D
Acquisition Value 1.33
04/07/08 1,500 Shs. SunTrust Banks Incorporated
Net Proceeds 90,780.49
Acquisition Value 106,005.00
04/07/08 1,000 Shs. Wells Fargo & Company
Net Proceeds 31,131.82
Acquisition Value 32,330.00
04/10/08 2,400 Shs. US Bancorp New
Net Proceeds 80,570.42
Acquisition Value 80,268.00 $
04/15/08 $1.58 GNMA Pass-Thru X Single Family 10~
due 10/15/17 - Paid down
Net Proceeds 1.58
Acquisition Value 1.84
04/15/08 $0.20 GNMA Pass-Thru X Single Family
9.5$ due 7/15/20 - Paid down
Net Proceeds •20
Acquisition Value 1.33
05/07/08 1,500 Shs. SunTrust Banks Incorporated
Net Proceeds 89,924.49
Acquisition Value 106,005.00
05/15/08 $1.59 GNMA Pass-Thru X Single Family 10$
due 10/15/17 - Paid down
Net Proceeds 1.59
Acquisition Value 1.85
FORWARD $
$ .26
1.13
15,224.51
1,198.18
302.42
.26
1.13
16,080.51
.26
302.42 $ 32,506.24
- 6 -
PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont'd)
FORWARD
05/15/08 50.20 GNMA Pass-Thru X Single Family
9.5~ due 7/15/20 - Paid down
Net Proceeds •20
Acquisition Value 1.33
06/16/08 $1.61 GNMA Pass-Thru X Single Family 10$
due 10/15/17 - Paid down
Net Proceeds 1.61
Acquisition Value 1.88
06/16/08 50.20 GNMA Pass-Thru X Single Family
9.5% due 7/15/20 - Paid down
Net Proceeds •20
Acquisition Value 1.33
06/24/08 9,000 Shs. Wells Fargo & Company
Net Proceeds 224,548.79
Acquisition Value 290,970.00
06/30/08 156 Shs. Prudential Financial
GAIN LOSS
$ 302.42 $ 32,506.24
1.13
27
1.13
66,421.26
Net Proceeds 10,906.34
Acquisition Value 15.111.72 4,205.38
07/15/08 $1.62 GNMA Pass-Thru X Single Family lOg
due 10/15/17 - Paid down
Net Proceeds 1.62
Acquisition Value 1.89 .27
07/15/08 $0.21 GNMA Pass-Thru X Single Family
9.5~ due 7/15/20 - Paid down
Net Proceeds .21
Acquisition Value 1.40 1.19
08/15/08 $0.21 GNMA Pass-Thru X Single Family
9.5~ due 7/15/20 - Paid down
Net Proceeds •21
Acquisition Value 1.40 1.19
08/15/08 $1.64 GNMA Pass-Thru X Single Family 10~
due 10/15/17 - Paid down
Net Proceeds 1.64
Acquisition Value 1.91 .27
FORWARD $ 302.42 $ 103,138.33
- 7 -
PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont'd}
GAIN LOSS
FORWARD $ 302.42 $ 103,138.33
09/15/08 $1.65 GNMA Pass-Thru X Single Family 10~
due 10/15/17 - Paid down
Net Proceeds 1.65
Acquisition Value 1.92 .27
09/15/08 $0.20 GNMA Pass-Thru X Single Family
9.5~ due 7/15/20 - Paid down
Net Proceeds .20
Acquisition Value 1.33 1.13
10/15/08 $0.23 GNMA Pass-Thru X Single Family
9.5% due 7/15/20 - Paid down
Net Proceeds .23
Acquisition Value 1.53 1.30
10/15/08 $1.66 GNMA Pass-Thru X Single Family 10~
due 10/15/17 - Paid down
Net Proceeds 1.66
Acquisition Value 1.94 .28
11/17/08 $1.68 GNMA Pass-Thru X Single Family 10~
due 10/15/17 - Paid down
Net Proceeds 1.68
Acquisition Value 1.96 .28
11/17/08 $0.22 GNMA Pass-Thru X Single Family
9.5$ due 7/15/20 - Paid down
Net Proceeds .22
Acquisition Value 1.47 1.25
11/19/08 7,200 Shs. Raytheon Company
Net Proceeds 359,637.98
Acquisition Value 468,036.00 108,398.02
12/15/08 $1.69 GNMA Pass-Thru X Single Family 10~
due 10/15/17 - Paid down
Net Proceeds 1.69
Acquisition Value 1.97 .28
FORWARD $ 302.42 $ 211,541.14
- 8 -
PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS (cont'd)
FORWARD
12/15/08 $0.22 GNMA Pass-Thru X Single Family
9.5~ due 7/15/20 - Paid down
Net Proceeds .22
Acquisition Value 1.47
01/15/09 $0.21 GNMA Pass-Thru X Single Family
9.5~ due 7/15/20 - Paid down
Net Proceeds .21
Acquisition Value 1.40
01/15/09 $1.71 GNMA Pass-Thru X Single Family 10~
due 10/15/17 - Paid down
Net Proceeds 1.71
Acquisition Value 1.99
01/21/09 0.2159 Shs. Wells Fargo & Company
Net Proceeds 4.53
Acquisition Value 47.83
02/17/09 $1.72 GNMA Pass-Thru X Single Family 10~
due 10/15/17 - Paid down
Net Proceeds 1.72
Acquisition Value 2.01
02/17/09 $0.21 GNMA Pass-Thru X Single Family
9.5g due 7/15/20 - Paid down
Net Proceeds .21
Acquisition Value 1.40
03/16/09 $1.74 GNMA Pass-Thru X Single Family 10$
due 10/15/17 - Paid down
Net Proceeds 1.74
Acquisition Value 2.03
03/16/09 $0.21 GNMA Pass-Thru X Single Family
9.5$ due 7/15/20 - Paid down
Net Proceeds .21
Acquisition Value 1.40
TOTALS
NET LOSS TRANSFERRED TO SUMMARY
GAIN LOSS
$ 302.42 $ 211,541.14
1.25
1.19
28
43.30
29
1.19
29
1.19
$ 302.42 $
--------------- -
--------------- -
$ 211,287.70
---------------
---------------
211,590.12
- 9 -
DISBURSEMENTS OF PRINCIPAL
FUNERAL EXPENSES
Jane E. Clifford
04/11/08 Reimbursement of Funeral Expenses -
Stretch Funeral Services, Inc.
$ 7,494.00 $
7,494.00
LEGAL FEES
Martson Law Offices
09/26/08 Attorney Fee
16,314.18
16,314.18
FEDERAL STATE & LOCAL TAXES
Cumberland Countv Register of Wills
03/07/08 Pennsylvania Inheritance Tax Payment
ADMINISTRATION - MISC. EXPENSES
Cumberland Countv Register of Wills
01/22/08 Letters Testamentary
Cumberland Law Journal
01/28/08 Cost of Advertising and Proof of
Publication
RESERVES:
Manufacturers and Traders Trust Company
- Executor Fee
Martson Law Offices - Attorney Fee
(Balance Due)
Cumberland County Register of Wills -
Filing Fees
80,000.00
1,135.00
75.00
$ 50,677.35
9,000.00
1,500.00 61,177.35
80,000.00
62,387.35
TOTAL DISBURSEMENTS OF PRINCIPAL
$ 166,195.53
- 10 -
PRINCIPAL BALANCE ON HAND
FIDUCIARY
VALUE AT ACQUISITION
04/01/2009 VALUE
Bonds
$285.59 GNMA Pass-Thru X Single Family
10~ due 10/15/17 $ 265.69 $ 282.03
$30.99 GNMA Pass-Thru X Single Family
9.5$ due 7/15/20 2.57 15.59
Common Stocks
168 Shs. DPL Incorporated 3,786.72 5,178.60
200 Shs. Exeleon Corporation 9,078.00 17,137.00
1,000 Shs. Exxon Mobil Corporation 68,100.00 92,070.00
5,500 Shs. Federal National Mortgage
Association 3,850.00 204,462.50
50 Shs. First Energy Corporation 1,930.00 3,690.75
4,800 Shs. General Electric Company 48,528.00 178,896.00
925 Shs. J.P. Morgan Chase & Company 24,586.50 43,669.25
50 Shs. NCR Corporation 397.50 1,241.00
501 Shs. Occidental Pete Corporation 27,880.65 36,237.33
73 Shs. Pepco Holdings Incorporated 911.09 2.,127.22
15 Shs. Piper Jaffray Companies
Incorporated 386.85 724.27
250 Shs. Pittsburgh & West Virginia Rail
Road 2,685.00 2,291.88
2,500 Shs. PPL Corporation 71,775.00 135,162.50
600 Shs. Southern Company 18,372.00 23,463.00
1,000 Shs. SunTrust Banks Incorporated 11,740.00 70,670.00
FORWARD $ 294,275.52 $ 817,318.92
- 11 -
PRINCIPAL SAI,ANCE ON HAND (cont'd)
FORWARD $ 294,275.52 $
Common Stocks (cont'd)
50 Shs. Teradata Company
129 Shs. Wells Fargo & Company
Foreictn Stocks
218 Shs. Alcatel-Lucent - Spon Adr
200 Shs. GlaxoSmithKline PLC Sponsored
ADR
732 Shs. Vodafone Group PLC Sponsored
Adr
CASH (AUTOMATICALLY INVESTED)
811.00
1,836.96
405.48
6,214.00
12,751.44
$ 316,294.40 $
803,820.75
817,318.92
1, 332.50
28,579.56
1,775.61
10,652.00
27,460.98
887,119.57
803,820.75
TOTAL PRINCIPAL BALANCE ON HAND $ 1,120,115.15 $ 1,690,940.32
THE ABOVE CASH IS CURRENTLY INVESTED IN
MTB Money Market-Inst I Fund #420
- 12 -
CHANGES IN PRINCIPAL HOLDINGS
Alcatel-Lucent - Spon Adr
94 Shs. Inventoried
10/30/08 124 Shs. Received
218 Shs.
---------------------
---------------------
DPL Incorporated
168 Shs. Inventoried
---------------------
---------------------
Exeleon Corporation
200 Shs. Inventoried
---------------------
---------------------
Exxon Mobil Corporation
10/15/08 1,000 Shs. Received
Federal National Mortaaae Association
5,500 Shs. Inventoried
ACCOUNT
VALUE
$ 765.63
1,009.98
$ 1,775.61
------------------
------------------
$ 5,178.60
------------------
------------------
$ 17,137.00
------------------
------------------
$ 92,070.00
------------------
------------------
$ 204,462.50
- 13 -
CHANGES IN PRINCIPAL HOLDINGS (cont'd)
First Energy Corporation
50 Shs. Inventoried
---------------------
---------------------
General Electric Company
4,800 Shs. Inventoried
---------------------
---------------------
GlaxoSmithKline PLC Sponsored ADR
200 Shs. Inventoried
---------------------
---------------------
GNMA Pass-Thru X Single Family 10$ due
10/15/17
$307.05 Inventoried
03/17/08 $1.57 Paid down
$305.48
04/15/08 $1.58 Paid down
$303.90
05/15/08 $1.59 Paid down
$302.31
06/16!08 $1.61 Paid down
$300.70
07/15/08 $1.62 Paid down
$299.08
08/15/08 $1.64 Paid down
$297.44
09/15/08 $1.65 Paid down
$295.79
10/15/08 $1.66 Paid down
$294.13
ACCOUNT
VALUE
$ 3,690.75
------------------
------------------
$ 178,896.00
------------------
------------------
$ 10,652.00
------------------
-----------------
$ 307.05
1.83
$ 305.22
-1.84
$ 303.38
-1.85
$ 301.53
-1.88
$ 299.65
-i.oy
$ 297.76
- 1 7 1
$ 295.85
-1.92
$ 293.93
-1.94
$ 291.99
- 14 -
CHANGES IN PRINCIPAL HOLDINGS (cont'd]
ACCOUNT
VALUE
GNMA Pass-Thru X Sinale Family lOg due
10/15/17 (cont'd)
11/17/08 $1.68 Paid down $ -1.96
$292.45 $ 290.03
12/15/08 $1.69 Paid down -1.97
$290.76 $ 288.06
01/15/09 $1.71 Paid down -1.99
$289.05 $ 286.07
02/17/09 $1.72 Paid down -2.01
$287.33 $ 284.06
03/16/09 $1.74 Paid down -2.03
$285.59 $ 282.03
GNMA Pass-Thru X Sinale Family 9.5°s due
7 15 20
$33.71 Inventoried $ 33.71
03/17/08 $0.20 Paid down -1.33
$33.51 $ 32.38
04/15/08 $0.20 Paid down -1.33
$33.31 $ 31.05
05/15/08' $0.20 Paid down -1.33
"$33.11 $ 29.72
06/16/08 $0.20 Paid down -1.33
$32.91 $ 28.39
07/15/08 $0.21 Paid down -1.40
532.70 $ 26.99
08/15/08 50.21 Paid down -1.40
$32.49 $ 25.59
09/15/08 $0.20 Paid down -1.33
$32.29 $ 24.26
- 15 -
CHANGES IN PRINCIPAL HOLDINGS (cont'd)
ACCOUNT
VALUE
GNMA Pass-Thru X Sing le Family 9.5g due
7/15/20 (cont'd)
10/15/08 $0.23 Paid down $ -1.53
$32.06 $ 22.73
11/17/08 $0.22 Paid down -1.47
$31.84 $ 21.26
12/15/08 $0.22 Paid down -1.47
$31.62 $ 19.79
01/15/09 $0.21 Paid down -1.40
$31.41 $ 18.39
02/17/09 $0.21 Paid down -1.40
$31.20 $ 16.99
03/16/09 $0.21 Paid down -1.40
$30.99 $ 15.59
J.P. Morgan Chase & Company
• 10/30/08 925 Shs. Received $ 43,669.25
NCR Corporation
10/30/08 50 Shs. Received .$ 1,241.00
- 16 -
CHANGES IN PRINCIPAL HOLDINGS (cont'd)
Occidental Pete Corporation
501 Shs. Inventoried
---------------------
---------------------
Pepco Holdings Incorporated
73 Shs. Inventoried
---------------------
---------------------
Piper Jaffrav Companies Incorporated
15 Shs. Inventoried
--------------------
--------------------
Pittsburgh & West Virginia Rail Road
250 Shs. Inventoried
---------------------
---------------------
PPL Corporation
2,500 Shs. Inventoried
Prudential Financial
156 Shs. Inventoried
06/30/08 156 Shs. Sold
0 Shs.
ACCOUNT
VALUE
$ 36,237.33
------------------
------------------
$ 2,127.22
$ 724.27
------------------
------------------
$ 2,291.88
------------------
------------------
$ 135,162.50
$ 15,111.72
-15,111.72
$ 0.00
- 17 -
CHANGES IN PRINCIPAL HOLDINGS (cont'd)
ACCOUNT
VALUE
Raytheon Company
7,200 Shs. Inventoried $ 468,036.00
11/19/08 7,200 Shs. Sold -468,036.00
0 Shs. $ 0.00
Southern Compan y
600
---------------- Shs.
----- Inventoried $
---- 23,463.00
--------------
---------------
SunTrust Banks -----
Incor
porated -- --------------
4,000 Shs. Inventoried $ 282,680.00
04/07/08 1,500 Shs. Sold -106,005.00
2,500 Shs. $ 176,675.00
05/07/08 1,500 Shs. Sold -106,005.00
1,000 Shs. $ 70,670.00
----------------
Teradata Compan -----
y ---- --------------
10/30/08 50
-------------
---------------- Shs.
-----
----- Received $
----
---- 1,332.50
--------------
--------------
- 18 -
CHANGES 'IN PRINCIPAL HOLDINGS (cont'd)
US Bancorp New
2,400 Shs. Inventoried
04/10/08 2,400 Shs. Sold
0 Shs.
---------------------
---------------------
Vodafone Group PLC Sponsored Adr
10/30/08 732 Shs. Received
---------------------
---------------------
Wachovia Corporation
649 Shs. Inventoried
01/02/09 649 Shs. Delivered in merger to 129.2159
shares Wells Fargo & Company at a
rate of 0.1991 shares
0 Shs.
---------------------
---------------------
Wells Fargo & Compan y
10,000 Shs. Inventoried
04/07/08 1,000 Shs. Sold
9,000 Shs.
06/24/08 9,000 Shs. Sold
0 Shs.
01/02/09 129.2159 Shs. Received from merger of 649 shares
Wachovia Corporation
129.2159 Shs.
01/21/09 0.2159 Shs. Sold
129 Shs.
ACCOUNT
VALUE
$ 80,268.00
-80,268.00
S 0.00
------------------
------------------
$ 27,460.98
$ 28,627.39
-28,627.39
$ 0.00
------------------
------------------
$ 323,300.00
-32,330.00
$ 290,970.00
-290,970.00
$ 0.00
28,627.39
$ 28,627.39
-47.83
S 28,579.56
- 19 -
RECEIPTS OF INCOME
Blackrock LiQUid Fund Tempfund Class I
#24
05/01/08 Interest $ 157.12
06/03/08 Interest 460.93
07/02/08 Interest 582.31
08/09/08 Interest 989.91
09/03/08 Interest 990.66
10/02/08 Interest 989.24
11/09/08 Interest 1,099.94
12/02/08 Interest 1,363.69
01/05/09 Interest 1,460.24
02/02/09 Interest 1,089.76
03/02/09 Interest 725.82 $ 9,909.62
DPL Incorporated
06/02/08 Dividend 168 Shs. $ 46.20
09/02/08 Dividend 168 Shs. 46.20
12/01/08 Dividend 168 Shs. 46.20
03/02/09 Dividend 168 Shs. 97.88 186.48
Exeleon Corporation
06/10/08 Dividend 200 Shs. $ 100.00
09/10/08 Dividend 200 Shs. 100.00
12/10/08 Dividend 200 Shs. 105.00
03/10/09 Dividend 200 Shs. 105.00 410.00
Exxon Mobil Corporation
08/14/08 Dividend 2,000 Shs. $ 800.08
12/10/08 Dividend 1,000 Shs. 400.00
03/10/09 Dividend 1,000 Shs. 400.00 1,600.08
Federal National Mortgage Association
05/27/08 Dividend 5,500 Shs. $ 1,925.00
08/29/08 Dividend 5,500 Shs. 275.00 2,200.00
First Enerav Corporation
06/02/08 Dividend 50 Shs. $ 27.50
09/02/08 Dividend 50 Shs. 27.50
12/01/08 Dividend 50 Shs. 27.50
03/02/09 Dividend 50 Shs. 27.50 110.00
FORWARD $ 14,416.18
- 20 -
RECEIPTS OF INCOME (cont'd)
FORWARD $
General Electric Company
07/25/08 Dividend 4,800 Shs. $ 1,488.00
10/27/08 Dividend 4,800 Shs. 1,488.00
01/26/09 Dividend 4,800 Shs. 1,488.00
G1axoSmithKline PLC Sponsored ADR
12/10/07 Accrued Dividend $ -106.52
04/22/08 Accrued Dividend 106.52
07/11/08 Dividend 200 Shs. 103.71
10/09/08 Dividend 200 Shs. 103.82
01/09/09 Dividend 200 Shs. 94.96
GNMA Pass-Thru X Single Family 10°s due
10/15/17
12/10/07 Interest accrued to 12/10/07 $ -4.44
03/17/08 Interest $307.05 2.20
04/15/08 Interest $305.48 2.18
05/15/08 Interest $303.9 2.17
06/16/08 Interest $302.31 2.16
07/15/08 Interest $300.7 2.14
08/15/08 Interest $299.08 2.13
09/15/08 Interest $297.44 2.12
10/15/08 Interest $295.79 2.10
11/17/08 Interest $294.13 2.09
12/15/08 Interest $292.45 2.08
01/15/09 Interest $290.76 2.06
02/17/09 Interest $289.05 2.05
03/16/09 Interest $287.33 2.03
GNMA Pass-Thru X Sincrle Family 9.5$ due
7 15 20
14,416.18
4,464.00
302.49
23.07
12/10/07 Interest accrued to 12/10/07 $ -0.66
03/17/08 Interest $33.71 0.04
04/15/08 Interest 533.51 0.04
05/15/08 Interest $33.31 0.04
06/16/08 Interest $33.11 0.04
07/15/08 Interest $32.91 0.03
08/15/08 Interest $32.7 0.03
09/15/08 Interest $32.49 0.03
10/15/08 Interest $32.29 0.03
11/17/08 Interest $32.06 0.03
FORWARD $ -.35 $ 19,205.74
- 21 -
RECEIPTS OF INCOME (cont'd)
FORWARD $
GNMA Pass-Thru X Single Family 9.5$ due
7 15 20
(cont'd)
-.35 $ 19,205.74
12/15/08 Interest $31.84 0.03
01/15/09 Interest $31.62 0.02
02/17/09 Interest $31.41 0.02
03/16/09 Interest $31.20 0.02
J.P. Morg an Chase & Company
08/14/08 04/30/08 Dividend 925 Shs. $ 703.00
08/14/08 07/31/08 Dividend 925 Shs. 703.00
02/02/09 Dividend 925 Shs. 351.50
M&T Bank Checking Account #9843933939
02/04/08 Interest
MTB Money Market-Inst I Fund #420
02/01/08 Interest $ 1.20
03/03/08 Interest 10.47
04/01/08 Interest 19.53
05/01/08 Interest 77.23
Occidental Pete Corporation ~ ,
12/10/07 Accrued Dividend $ -125.25
04/15/08 Dividend 501 Shs. 125.25
07/15/08 Dividend 501 Shs. 160.32
10/15/08 Dividend 501 Shs. 160.32
01/15/09 Dividend 501 Shs. 160.32
Pepco Holdings Incorp orated
12/10/07 Accrued Divi dend $ -18.98
03/31/08 Dividend 73 Shs. 19.71
06/30/08 Dividend 73 Shs. 19.71
09/30/08 Dividend 73 Shs. 19.71
12/31/08 Dividend 73 Shs. 19.71
03/31/09 Dividend 73 Shs. 19.71
FORWARD
-.26
1,757.50
32
108.43
480.96
79.57
21,632.26
- 22 -
RECEIPTS OF INCOME (cont'd)
FORWARD $ 21,632.26
Pittsburgh & West Virginia Rail Road
12/10/07 Accrued Dividend $ -32.50
03/31/08 Dividend 250 Shs. 32.50
06/30/08 Dividend 250 Shs. 30.00
09/29/08 Dividend 250 Shs. 32.50
12/29/08 Dividend 250 Shs. 32.50
03/31/09 Dividend 250 Shs. 30.00 125.00
PPL Corporation
12/10/07 Accrued Dividend $ -762.50
04101/08 Dividend 2,500 Shs. 837.50
07/01/08 Dividend 2,500 Shs. 837.50
10/01/08 Dividend 2,500 Shs. 837.50
01/02/09 Dividend 2,500 Shs. 837.50
04/01/09 Dividend 2,500 Shs. 862.50 3,450.00
Prudential Financial
12/10/07 Accrued Dividend $ -179.40
09/22/08 Dividend 156 Shs. 179.40 .00
Raytheon Company
Q4/29/OS Dividend 7,200 Shs. $ 2,016.00
08/07/08 Dividend 7,200 Shs. 2,0.6.00
11/04J08 Dividend 7,200 Shs. 2,016.00 6,048.00
Southern Compan
06/06/08 Dividend 600 Shs. $ 252.00
09/08/08 Dividend 600 Shs. 252.00
12/08/08 Dividend 600 Shs. 252.00
03/06/09 Dividend 600 Shs. 252.00 1,008.00
SunTrust Banks Incorporated
12/10/07 Accrued Dividend $ -2,920.00
03/14/08 Dividend 4,000 Shs. 3,080.00
06/13/08 Dividend 1,000 Shs. 770.00
09/15/08 Dividend 1,000 Shs. 770.00
12/15/08 Dividend 1,000 Shs. 540.00
03/16/09 Dividend 1,000 Shs. 100.00 2,340.00
FORWARD $ 34,603.26
- 23 -
RECEIPTS OF INCOME (cont'd)
FORWARD
US Bancorp New
04/15/08 Dividend 2,400 Shs.
Vodafone Group PLC Sponsored Adr
09/14/08 Dividend 732 Shs.
02/09/09 Dividend 732 Shs.
Wachovia Corporation
$ 34,603.26
1,020.00
$ 1,468.24
257.15 1,725.39
12/10/07 Accrued Dividend
06/16/08 Dividend 649 Shs.
09/15/08 Dividend 649 Shs.
12/15/08 Dividend 649 Shs.
$ -415.36
243.38
32.45
32.45 -107.08
Wells Farcxo & Company
06/02/08 Dividend 9,000 Shs.
03/02/09 Dividend 129 Shs.
$ 2,790.00
43.86 2,833.86
TOTAL RECEIPTS OF INCOME
$ 40,075.43
---------------
---------------
- 24 -
DISBURSEMENTS OF INCOME
Manufacturers and Traders Trust Company
- Commission
02/15/08
03/17/08
04/15/08
05/15/08.
06/16/08
07/15/08
08/15/08
09/15/08
10/15/08
11/17/08
12/15/08
01/15/09
02/17/09
03/16/09
Internal Revenue Service
Federal Fiduciary Income Tax
03/06/09 Balance Due f/y/e 11/30/08
Pennsylvania Department of Revenue
State Fiduciary Income Tax
03/06/09 Balance Due f/y/e 11/30/08
TOTAL DISBURSEMENTS OF INCOME
$ 0.07
185.43
59.68
203.87
382.42
109.12
279.38
101.61
167.24
285.98
131.79
181.16
200.93
96.24 $
2,379.92
5,971.00
1,397.00
$ 9,747.92
--------------
--------------
- 25 -
INCOME SAI+ANCE ON PIAND
FIDUCIARY
VALUE AT ACQUISITION
04/01/2009 VALUE
CASH (AUTOMATICALLY INVESTED)
TOTAL INCOME BALANCE ON HAND
$ 30,327.51 $ 30,327.51
$ 30,327.51 $ 30,327.51
THE ABOVE CASH IS CURRENTLY INVESTED IN
MTB Money Market-Inst I Fund #420
- 26 -
PROPOSED PRINCIPAL DISTRIBUTION SCHEDULE
Market Value Fiduciary
as of Acquisition
04/01/2009 Value
M&T Bank and Jane E. Clifford
Co-Trustees Disclaimer Trust under
Will of William E. Clifford flb/o
Marie A. Clifford - Entire Residue
as per Item Five of the Will
$285.59 GNMA Pass-Thru X Single Family
10~ due 10/15/17
$30.99 GNMA Pass-Thru X Single Family
9.5~ due 7/15/20
168 Shs. DPL Incorporated
200 Shs. Exeleon Corporation
1,000 Shs. Exxon Mobil Corporation
5,500 Shs. Federal National Mortgage
Association
50 Shs. First Energy Corporation
4,800 Shs. General Electric Company
925 Shs. J.P. Morgan Chase & Company
50 Shs. NCR Corporation
501 Shs. Occidental Pete Corporation
73 Shs. Pepco Holdings Incorporated
15 Shs. Piper Jaffray Companies
Incorporated
250 Shs. Pittsburgh & West Virginia Rail
Road
2,500 Shs. PPL Corporation
600 Shs. Southern Company
FORWARD
$ 265.69 $ 282.03
2.57 15.59
3,786.72 5,178.60
9,078.00 17,137.00
68,100.00 92,070.00
3,850.00 204,462.50
1,930.00 3,690.75
48,528.00 178,896.00
24,586.50 43,669.25
397.50 1,241.00
27,880.65 36,237.33
911.04 2,127.22
386.85 724.27
2,685.00 2,291.88
71,775.00 135,162.50
18,372.00 23,463.00
$ 282,535.52 $ 746,648.92
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PROPOSED PRINCIPAL DISTRIBUTION SCHEDULE (cont'd)
FORWARD $ 282,535.52 $ 746,648.92
1,000 Shs. SunTrust Banks Incorporated
50 Shs. Teradata Company
129 Shs. Wells Fargo & Company
218 Shs. Alcatel-Lucent - Spon Adr
200 Shs. GlaxoSmithKline PLC Sponsored
ADR
732 Shs. Vodafone Group PLC Sponsored
Adr
Principal Cash
TOTAL
11,740.00 70,670.00
811.00 1,332.50
1,836.96 28,579.56
405.48 1,775.61
6,214.00 10,652.00
12,751.44 27,460.98
803,714.35 803,714.35
$ 1,120,008.75 S 1,690,833.92
S 1,120,008.75 $ 1,690,833.92
---------------- ----------------
---------------- ----------------
THE ABOVE CASH IS CURRENTLY INVESTED IN
MTB Money Market-Inst I Fund #920
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PROPOSED INCOME DISTRIBUTION SCHEDULE
Market Value Fiduciary
as of Acquisition
04/01/2009 Value
M&T Bank and Jane E. Clifford
Co-Trustees Disclaimer Trust under
Will of William E. Clifford f/b/o
Marie A. Clifford - Entire Residue
as per Item Five of the Will
Income Cash $ 30,327.51 $ 30,327.51
$ 30,327.51 $ 30,327.51
TOTAL $ 30,327.51 $ 30,327.51
THE ABOVE CASH IS CURRENTLY INVESTED IN
MTB Money Market-Inst I Fund #420
Manufacturers and Traders Trust Company
By
Co Executor of the Will of .
Wi liam E. Clifford, beceased
Jane E. Clifford
'r ,/'
By ~' ~ ~ r: ~// ,,
C Executor of Will of
illiam E. Clifford, Deceased
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VERIFICATION
MANUFACTURERS AND TRADERS TRUST COMPANY AND JANE E. CLIFFORD,
Co-Executors of the FTill of WILLIAM E. CLIFFORD, Ceceased, hereby declare
under oath that they have fully and faithfully discharged the duties of
their offices; that the foregoing First and Final Account is true and
correct and fully discloses all significant transactions occurring during
the accounting period; that all known claims against the Estate have been
paid in full; that, to their knowledge, there are no claims outstanding
against the Estate; that all taxes presently due from the Estate have been
paid; and that the grant of Letters Testamentary and the first complete
advertisement thereof occured more than four months before the filing of
the foregoing First and Final Account.
This statement is made subject to penalties of 18 Pa. C.S.A. Section
4904 relating to unsworn falsification to authorities.
Man facturers and Traders Trust Co
Dated: J ~~~ ~Q 1
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