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HomeMy WebLinkAbout06-26-09 (2)IN RE: : IN THE COURT OF COMMON PLEAS ESTATE OF :CUMBERLAND COUNTY, PENNSYLVANIA PHYLLIS B. FRANTZ, :ORPHANS' COURT DIVISION DECEASED :ESTATE #2008-00674 ESTATE SETTLEMENT AGREEMENT ESTATE OF PHYLLIS B. FRANTZ AGREEMENT executed this day of , 2009, by and between Robert W. Frantz, Kristen G. Edwards, David E. Smith and Suzanne K. Smith, beneficiaries and Robert W. Frantz, Executor of the Estate of Phyllis B. Frantz. WITNESSETH: WHEREAS, Phyllis B. Frantz, died on May 14, 2008, having first made and published her Last Will and Testament, wherein she named Robert W. Frantz, Executor. Letters Testamentary were issued by the Cumberland County Register of Wills on June 24, 2008; and WHEREAS, the Executor, represented by Leonard Tintner, Esquire, and Boswell, Tintner & Piccola, has proceeded with the administration of said estate, and has paid all proper bills and debts for the estate and has prepared an Inventory and a Pennsylvania Inheritance Tax Return, which documents have been filed with the Register of Wills of Cumberland County on November 10, 2008. March 30, 2009; and Said return was accepted as ~~on rt ~ r-'~n "~- -~.~~ ~l ~ n~ ~7~ t~ ~ J~ :~: -~ ---i hJ a co tv -- _, g f-~ l ' > i ~ <: >' :~ ~:_ -, ;q WHEREAS, the Executor and the heirs have examined the income and expense statements for the estate pertinent to the estate assets, income earned and expense paid during the course of the administration. NOW THEREFORE, the parties hereto intending to be legally bound hereby, mutually agree, as follows: 1. Pennsylvania Inheritance Tax. The parties hereto, and each of them, agree and acknowledge that they have fully and carefully examined the Pennsylvania Inheritance Tax Return form relating thereto, and finds them to be true and correct, and acceptable to the parties hereto and each of them, and further that they have received a copy of these documents. 2. Release and Discharge. The parties hereto do hereby release, remise and forever discharge the Estate of Phyllis B. Frantz, the Executor and the attorney for the Estate, of and from all manner of acts, suits, claims, accounts, accountings, debts, dues and demands whatsoever which they or their legal representatives or assigns may at any time hereafter have, against the Executor, the said Estate or the assets thereof, from, for, touching or concerning any of the assets and property of the said Estate and/or any claim or interest thereto or therein, and the administration, management, collection, sale or distribution of any of the said assets and for or on account of any money, interest, income, assets or proceeds out of the same, from the time of the death of the said decedent to and including the date of this Agreement and release. 3. Distribution. The beneficiaries under the Last Will & Testament agrees to distribution as mentioned aforesaid. (a) Taxes. The Pennsylvania Inheritance Tax return was filed on November 10, 2008. Said return was accepted as filed on March 30, 2009. (b) Creditors' claims. All claims of the creditors, as known to the Executor have bee Joint Accounts -All accounts that were ~o~tly owned with the Decedent been properly assigned to the joint nts. This instrument is a full and final Family Settlement Agreement by and between the parties hereto, both fiduciary and individual, all of the same having been arrived at, concluded, and executed after a full and complete disclosure of the estate assets, the obligations, and the rights of the parties and of all the parties to, and each of them, agree to abide by these terms. 5. Requirement to execute documents. All of the parties to, and each of them, agree that they will at all times in the future and whenever necessary, appropriate or convenient, make, execute and deliver to the said Executor and to the other party or persons, any and all instruments, documents, conveyances, deeds, releases or other instruments of any kind necessary or convenient to carry out the intention of this Agreement and/or to permit, assist and enable the Administration to fulfill his duties with reference to the said estate and all of the assets and obligations. 6. Entire agreement. This Agreement constitutes the entire understanding among these parties to, and each of them acknowledges that no representations or statements of any kind, written or oral, have been made to them or any of them previously by the Executrix, or by any other person or party upon his behalf. 7. Heirs. This Agreement shall enure to the benefit of and shall be binding upon, these parties to, and each of them, their heirs, executors, administrators, successors and assigns. 8. Counterparts. This Agreement may be signed in counterparts, which means each party may execute a separate copy. IN WITNESS WHEREOF, these parties to have hereunto set their respective hands and seals the day and year first above written. In the presence of: ROBERT W. FRANTZ, EXECUTOR ROBERT W. FRANTZ, BENEFICIARY 8. Counterparts. This Agreement may be signed in counterparts, which means each party may execute a separate copy. IN WITNESS WHEREOF, these parties to have hereunto set their respective hands and seals the day and year first above written. In the presence of: KRISTEN G. EDWARDS, BENEFICIARY 8. Counterparts. This Agreement may be signed in counterparts, which means each party may execute a separate copy. IN WITNESS WHEREOF, these parties to have hereunto set their respective hands and seals the day and year first above written. In the presence of: DAVID E. SMITH, BENEFICIARY 8. Counterparts. This Agreement may be signed in counterparts, which means each party may execute a separate copy. IN WITNESS WHEREOF, these parties to have hereunto set their respective hands and seals the day and year first above written. In the presence of: SUZANNE K. SMITH, BENEFICIARY ESTATE OF PHYLLIS B. FRANTZ ESTATE DISTRIBUTION BALANCE AVAILABLE FOR DISTRIBUTION - $131,988.60 1. Robert W. Frantz -Pursuant to Item 3 (1) - 40% of residue subject to distribution 2. David E. Smith Suzanne K. Smith Kristen G. Edwards -pursuant to Item 3 (2-4) 20% of estate subject to distribution $52,795.44 $26,397.72 each 6. Entire agreement. This Agreement constitutes the entire understanding among these parties to, and each of them acknowledges that no representations or statements of any kind, written or oral, have been made to them or any of them previously by the Executrix, or by any other person or party upon his behalf. 7. Heirs. This Agreement shall enure to the benefit of and shah be binding upon, these parties to, and each of them, their heirs, executors, administrators, successors and assigns. 8. Counterparts. This Agreement may be signed in counterparts, which means each party may execute a separate copy. IN WITNESS WHEREOF, these parties to have hereunto set their respective hands and seals the day and year first above wriften. In the presence of: R BER W. FRANTZ, ~ ' EXECUTOR OBERT W. FRANTZ, BENEFICIARY Counterpart:. This Agreement may be signed in counterparts, which means each party may execute a separate copy. IN WITNESS WHEREOF. these parties to have hereunte~ set their respective hands and seals the day and year first above written. in tine presence of: KRISTEN G. EDWARDS, BE:NEFI~IARY i' i 1' . i I' 8. Counteroarts. This Agreement may tie signed in counterparts, which means each party may execute a separate copy. 1N WITNESS WHEREOF, these parties to have hereunto set their respective hands and seals the day and year first above written. In the presence of: DAVID E. SMITH, BENEFICIARY Z0 3Sdd N~JIS3Q HlIWS I~WG TbiE9Bb8bZT tb~LT 600Z/EZ/90 t3_ Countvmarts. This Agreement may tie signed in counterparts, which means each parry may execute a separate copy. 1N WITNESS WHEREOF, these parties to have hereunto set their respective hands and seats the day and year first above written. Ir- the prosonce of: S NE K. SIVI ,BENEFICIARY TO 3~tid N~JIS3Q HlIWS l~Wtf TbTE98b8bZT Zb~LT 6002/EZ/90