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Home My WebLink About07-17-09 (2)--~ REV-1500 1505607120 PA Department of Revenue EX (06-05) OFFICIAL USE ONLY Bureau of Individual Taxes county Cone veer Flle Number PO 80X.280601 INHERITANCE TAX RETURN Harrisburg, PA 17128-0601 RESIDENT DECEDENT 21 0 B 10 8 4 ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death Date of Birth 10202008 09091926 Decedent's Last Name Suffix Decedent's First Name MI FRITZ RICHARD M (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS FILL IN APPROPRIATE OVALS BELOW ® 1. Original Return ^ 2. Supplemental Return ^ 3. Remaintler Retum (tlate of death ^ 4. Limped Estate ^ qa Future Interest Compromise prior to 12-13-82) (sate or deem aver 12-1242) ^ 5. Fetlerel Estate Tax Retum Required ® 6. oecoaent Dlea Testate (Anern Copy of wn) ® ~ Decetlent Malmainee a Living Truet (Attach copy a rruaq 0 8. Total Number of Safe Deposit Boxes ^ 9. Litigation Proceeds Receivetl ^ 10. Spousal Poverty Cretllt (tlata MOeeth between 12.31-91 en01-1-95) ^ 11. Election t0 tax under Sec. 9113(A) (Attach Sch. O) CORRESPONDENT -THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: dame RICHARD E. CONNELL ESQ. Daytime Telephone Number 7172328731 Firrn Name (If Applicable) BALL, MURREN First line of address 2303 MARKET Second line of address City or Post Office CAMP HILL & CONNELL STREET Correspondent's a-mail adtlress: COnnBll 2303 Market Street, Hill, PA 17011 State ZIP Code PA 17011 c-law.net nn, inclutling axompanying schedules and i the personal representative is based on all y~Kathryn L. Bogdan PA 17055 Richard E. Connell Esq. I_ Side 1 1505607120 REGISTER tMIJLLSUS~NLY T L ~~ ~ C- 7~rn- r' ' n r r-' ~_ n -t _ :... cri Zr ~.. n' r r^~ O T 715. r -~~~ c_ wtTE FILED -' '' r co `-a 1V or my .r has ~~\~- 1505607120 J as \ `~~~ J 1505607220 REV-1500 EX ox,a,m•:Name: FRITZ, RICHARD M RECAPITULATION -- 1. Real Estate (Schedule A) .......................................................................................... 1. 2. Stocks and Bonds (Schedule B) ............................................................................... 2. 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C).......... 3. 4. Mortgages 8 Notes Receivable (Schedule ............. 4. 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ................ 5. 6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested ............. 6. 7. Inter-Vivos Transfers 8 Miscellaneous Non-Probate Property (Schedule G) ^ Separate Billing Requested ............. 7. 8. Total Gross Assets (total Lines 1-7) ....................................................................... g, 9. Funeral Expenses & Administrative Costs (Schedule H).. s. 10. Debts of Decedent, Mortgage Liabilities, 8 Liens (Schedule I) ................................ 1p. 11. Total Deductions (total Lines 9 8 10) ...................................................................... 11. 12. Net Value of Estate (Line 8 minus Line 11) ................................. . 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which 12 an election to tax has not been made (Schedule J) ................................................. 13. Decedent's Social Security Number 69,429.08 1,037,655.50 1,107,084.58 17,561.46 371.09 17,932.55 1,089,152.03 14 . Net Value Subject to Tax (Line 12 minus Line 13) ..... ......................................... TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES ... 14. 1 , 0 8 9 , 15 2 . 0 3 - 15. Amount of Line 14 taxable at the spousal tax rate or , transfers under Sec. 9116 (a)(1.2)X .00 16. Amount of Line 14 taxable 15. 17. at lineal rate X .045 1, 0 8 9, 15 2. 0 3 Amount of Line 14 taxable 16. 4 9 , 011.8 4 at sibling rate X .1p 18. Amount of Line 14 taxable 17. at collateral rate X .15 18. 19. Tax Due ............................ ........................................................................................ . 19. 49,011,84 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT . 1505607220 Side 2 1505607220 J REV-1500 EX Page 3 Decedent's Complete Address: Fritz, Richard M 1526 Saint James Circle File Number 21.08 - 1084 AA@ChBniCebUr9 STATE ZIP PA 17055 Tax Payments and Credits: 1. Tax Due (Page 1 Line 19) 2. Credits/Payments (1) 49,011.84 A. Spousal Poverty Credit e. Prior Payments 50,000.00 C. Discount _2,450.59 3. InteresVPenaltyifapplicable Total Credits (A+g+C) (2) 52,450.59 D. Interest E. Penalty Total lnteresVPenalty (D+E) (3) 0.00 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Check box on Page 2 Line 20 to request a refund (4i 3, 438.75 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. q. Enter the interest on the tax due. (5) ___ B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (SA) - (5B) Q.OQ Make Check Payab/e to: REG/STER OF WILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: a. retain the use or income of the ro P Party transferredl Yes Nc .................................................................................. b. retain the right to designate who shall use the property transferred or its income :.................................... c. retain a reversionary interest; or ......................... x ........... d. receive the promise for life of either payments, benefits or cera? .............................................................. 2. If death occurred after December 12 1982 did d ^ r x , , ecetlent transfer property wfihin one year of death without receiving adequate consideration? ...................._. ...................................................... Did decedent own an "in trust for" or payable upon death bank account or security at his or her death?......... 4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which ^ contains a beneficiary designation? ...................................... . IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is three (3) percent [72 P.S. §9116 (a) (1.1) (i)]. For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent [72 P.S. §9116 (a) (1.1) (ii)]. The statute d9es not exempt a transfer to a surviving spouse from tax, and the statutory requirements for tlisclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. §9116 (a) (1.2)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in 72 P.S. §9116 1.2) [72 P.S. §9116 (a) (1)]. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve 12 sibling is defined under Section 9102, as an individual who has at least one parent in common with the(decedentnwh7ethe by blood(or adoption. COMAONWENLTN OF pENNBYLVlWIq INHERRgNCE TRX RETURN REEIpENT pECEOENT ESTATE OF Fritr, Richard M SCHEDULE E CASH, BANK DEPOSITS, & MISC. PERSONAL PROPERTY FILE NUMBER 21 - 08 - 1084 Include the pproceeds of litigation and the date the proceeds were received by the estate. All property Jolntlyowned with the right of survivorship must be disclosed on schedule F. ITEM __ NUMBER DESCRIPTION VALUE AT DATE OF 1 First Bank of Virginia DEATH Account Number - 900447949 10,769.86 (Certificate of Deposit) 2 ~ Commerce Bank AccountNumber-537217598 $52,687.51 58,159.22 Account Number - 537412124 $ 5,471.71 3 Personal possessions 500.00 TOTAL (Also enter on Line 5, Recapitulation) 89,429.08 COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF Fritr, Richard M SCHEDULE G INTER-VIVOS TRANSFERS & MISC. NON-PROBATE PROPERTY I me scneawe must be completed and filed If the answer to T- ITEM DESCRIPTION OF PROPERTY ' NUMBER I°U°°a Me named °te Irenelerea, Melr reletpnehip to °ecetleM I _. _ _ erM the Cele of trenaM. Attach a copy of the OeeO for real estele. -_. 1 A.G. Edwards/Wachovia Securities Richard M. Fritr Trust U/A Dated February 3, 1995 AccountNumber-2839-5593 $372,527.69 Dividend and Interest Accruals $ 576.26 (Copy of Trust Attached) 2 i A.G. Edwards/Wachovia Securities Lois M. Fritz Trust U/A/ Dated Februa ~ ry 3, 1995 Account Number - 2839-5683 (Copy of Trust Attached) I This Trust was reported on the Inheritance Tax Return filed for Lois M. Fritr (DOD 2/7/08) and was listed for the spousal distribution under Section 9113. The 1/2 i share of the Lois M. Fritr Trust for her children was not distributed until after Mr. Fritr's death. Therefore, j the date of death value of the asset reflected Mrs. Fritr's entire Trust and not simply Mr. Fritr's spousal j share. As a result, the asset value for his estate is halved to reflect the value of his spousal distribution in her Trust on the date of his death. ~ FILE NUMBER 21 - 08 - 1084 any of questions 1 through 4 on page 2 Is DATE OF DEATH %OF EXCLUSION VALUE OF ASSE7 DECD'S INTEREST (IF APPLICABLE) i 373,103.95 ~ 100% 452,619.88 50% 3 ' A.G. Edwards Wachovia/Securities j Richard M. Fritz j 221,961.86 100% Rollover IRA Account Number - 2839-0805 $221,510.36 I Divident 8 Interest Accrual $ 471.501 TOTAL (Also enter on Ilns 7. Recao~fnlarl....~ TAXABLE VALUE 373,103.95 226, 309.94 221,981.86 COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHEDULE G MISCTNON~PROBATE PROPERTY continued Fritz, Richard M 1 ms scneauie must be completed and filed If the answer to ITEM I DESCRIPTION OF PROPERTY NUMBER InGUtle Iha name d tM irarulere6, °lelr relalioneNP b °ecetlent -.- - _-. and IM Fate of Irenafer. Atlach a coPY °f tM Eee° for real estela. 4 A. G. Edwards/Wachovia Securities Richard M. Fritz Rollover IRA Account Number - 2839-0832 INTER VIVOS GIFTS within one year of death (Schedule Attached) FILE NUMBER 21 - 08 - 1084 any of questions 1 through 4 on page 2 Is yes. DATE OF DEATH %OF EXCLUSION VALUE OF ASSET DECO'S TAXABLE VALUE IPREREST OF APPLICABLE) 4,259.75 100% 4,259.75 212,000.00 i 100% I 212,000.00 Page 2 of Schedule G COMADNWFJ~.TN aF PENNBYLVPNl4 INNERITPNCE TPX RETURN RE8IDENT DECEDENT S(~,IDIA.E H AF~E~'E~ES& ~•p~ 1 r~~ ESTATE OF Fritz, Richard M FILE NUMBER Debts of decedent must be reported on Schedule I. 21 - OS - 1084 ITEM _ NUMBER FUNERAL EXPENSES: DESCRIPTION -~ AMOUNT A• 1 Malpezzi Funeral Home - 3,118.51 2 Funeral dinner 1, 348.36 B• ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Social Security Number(s) / EIN Number of Personal Representative(s): Street Address City State Zip Year(s) Commission paid z. Attorney's Fees Ball, Murren & Connell 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation) 4,699.50 Claimant Street Address City State Zip Relationship of Claimant to Decedent 4. I Probate Fees 5. I Accountant's Fees Boyer & Ritter - 2008 Income Tax Preparation 1,845.00 6. Tax Return Preparer's Fees 7. i Other Administrative COSts 1 Reimbursement ofout-of-pocket expenses to executrix 659.23 TOTAL (Also enter on line 9, Recapitulation) 17,561.48 C sd,~e H p ~ COMMONWEALTH OF PENNSYLVANIA Funeral E>tpertse~ p{ -- INHERITANCE TA%RETURN ~~ _ RESIDENT DECEDENT ESTATE OF Fritz, Richard M FILE NUMBER 2 Postage, office supplies 21 - 08 - 1084 561.94 3 i Reimbursement for costs advanced to BMC ~ ~ 328.92 4 ~ Reserve for final accounting 1,500.00 5 Reserve for attorney fees and costs of distribution ~ 3, 500.00 Page 2 of Schedule H SCHEDULEI DEBTS OF DECEDENT, MORTGAGE CDNNpNWEgLTN OF PENN8YLVPNW LIABILITIES, ~ LIENS INNERfTANDE TN(RETDRN RE&DENT DECEDENT ESTATE OF Fritr, Richard M ~ FILE NUMBER 21 - 08 - 1 nRe Include unreimbursed medlcalexpenses. ITEM NUMBER 1 I PA Department of Revenue 1. (payment of 2008 tax underpayment) 2. (payment of 2008 tax) DESCRIPTION $ 67.09 $304.00 TOTAL (Also enter on Line 10, Recapitulation) AMOUNT 371.09 371.09 REV-1671 EX* (8-08) COMMONWEALTH Of PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF SCHEDULE) BENEFICIARIES FILE NUMBER ~ 21 - 08 - 1084 ',ELATIONSHIP TO SHARE OF ESTATE AMOUNT OF ESTATE DECEDENT (Words) ($$$) Do Not List Tiun~q -.- -_~- NUMBER ~ NAME AND ADDRESS OF PERSON(S) ______ _~____. RECEIVING PROPERTY I, (TAXABLE DISTRIBUTIONS[include outright spousal distributions and transfers under Sec. $116 (a) (1.2)] 1 I Mrs. Kathryn L. Bogdan 1526 Saint James Circle Mechanicsburg, PA 17055 Mrs. Maryanne M. Busch 1380 Ivanhoe Road Ludington, MI 49431 Daughter Daughter Son one-fourth one-fourth one-fourth for distributions shown above on lines II. through 18, as appropriate, on Rev 1500 cover sheet rvurv- I ARABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE Fritz, Richard M Mr. Richard A. Fritz P.O. Box 1391 Petersburg, AK 99833 B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER ~.~~ REVd81J EX+ (8-00( COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE) BENEFICIARIES continued ESTATE OF Fritr, Richard M NUMBE~ NAME AND ADDRESS OF PERSON(S) ___ I __ RECEIVING PROPERTY I, ~i T"-ARABLE DISTRIBUTIONS [include outright s ousel distributions and Pransfers under Sec. $116 (a) (1.2)j 4 i Mr. David J. Fritr (at Mc Fritr's request, his address is not to be j listed) 5 6 7 In Trust for Lisa M. Fritr (Trustee, Lorraine Parker 218 Nausauket Road i Warwick, RI) In Trust for Adam N. Fritz (Trustee, Lorraine Parker, 218 Nausauket Road Warwick, RI) Mr. Joshua D. Fritr 6705 Deerview Trace Durham, NC 27712 Son Granddaughter Grandson Grandson FILE NUMBER 21 - 08 - 1084 TO SHARE OF ESTATE c one-eighth one-twenty-fourth one-twenty-fourth one-twenty-fourth rOF ($$$) Page 2 of Schedule J FtitRimdv STATE OF NORTH CAROLINA RICHARD ~ FRITZ COUNTY OF MOORS WII.L I, RICHARD M. FRIT2, of Moore County, North CaroGtra, do make, publish, and declare this to be my last will and I hereby revoke al! wills and codicils heretofore made by me. As of the date of this will, I declare that I am married, that my spouse's name is LOIS M. FRITZ; and that we have four (4) childrpt: KATHRYN L. BOGDAN, MARYANNE M. BUSCH, RICHARD A FRITZ and DAV>b J. FRITZ. ARTICLE I Pavmetk ofF..r,.~.~, --,~ n-'-•- . All my debts, heahh care expenses, ~~ expanses and the administration a of my estate shall be paid out of my residuary estate. ARTICLE II ravmem of ~ rArn Tarns. All death taxes shall be paid out of that portion of my for which no marital or chsritab[e deduai ~~~ estate on is allowed in the federal estate tax proceeding my estate as an administration expense and shall not be ~g to cheBad against or recovered trorrr raci ient or beneficiary of the property taxed. ~ P ARTICLE III Bequest of Tan~le Peril Pmn..- other tangible persona! property to~~~, 11l~ ~ P effects, automobiles and all of my mY Pouse, LOIS M FRITZ, if living at my ~~ or if ary spouse Predeceases me, io shares of equal value to my children surviving tne. However, it is my Precatory wish that certain items be redistributed in accordance with any handwritten instructions I may leatve. The costs of safeguarding, insuring, packing, storing and delivering my tan®'61e personal Property to arty beneficiary under this Article shall be paid from my estate as expenses ofaMtinistration. ARTICLE IV ~• - r •~ not ~~ rvivlna. If my spouse does not survive me, I diraa my Personal RePreseruative to set! any residence owned by me at the time of my death and add the net Proceeds of such sale to my residuary estate. My Personal Represpuativr; shall }~~ ~ absolute authority to determine what rral and personal property may constitute my residence as used in the Preceding sentence and all parties, including err}, thud ply pug may ~Y thereon. My Personal ~Pr~ntative shall have a reasonable time in which to accomplish the sale. I give and devise such residence to my Personal Representative for this Purpose. My Personal Representatne is also authorized to sell said residence to any b~te8t~ary hereunder, including a bateSaary serving as Personal Represartative_ ARTICLE V . I give my residuary estate. being ell the rest, residue and remainder of property which I may own at the time of my death. but without exercising any power of I may have, to the Tnrstee a appointment over property which 3, t99S and ~ under that d 'on of trust previously executed by me on Febnrary re9tated on the ~,_ day of 'f 2003, to be added to and disposed of as part of the trusts created under the provisioraz of that treat instrurnern, inchuiing arty amendmerns to it in effect at the titre of my loth. ARTICLE VI Persona! Rer~nt,m~-,, I hp;~y ~~~t ~ LOIS M. FRTfZ, ay personal sanative, to sarve without bond. If she should predeaeese me, fail to qualify m• cease to serve, 8ppwnl t mY daughter. KATHRYN L. BOGDAN, as Persatal Representative, to serve without bond. If she should Pradaxese me, fail to qualify or cease to save, I appoint my son, RICHARD A. FRITZ, as Personal Repreaetagtl~,e, to serve without bond. My Personal Rep>esgnative shall have Sell authority to demand such amoturts from the Tnutee of the treat referaaced above as mY Personal or in pert of my bequests and devises, debts, ~~ ~~ for the payatent in whole will, and the estate, inhetitancx and similar taxes ~'~ Provided for in this payable by reason of my death, subject. however, to arty limitations set forth in said Trust Agreement. I also authorize my Pmsonal Representative to designate is writing such paaora or pins to act as Personal Representative in airy other state in which it shall be necessary to probate this will; and to pay administration expenses in wnnection with any real or tangible personal property not situated in North Carolina at the time ofmy death which are payabk under the laws ofthejurisdiction(s) where such Property is situated. ARTICLE VII • Powers emamexated in North Carolina taataal Statutes §32-27 are hereby incorporated by reti;raatx and grained to my Personal Representative, subject to the restrictions of North Carolina Geraea'al Statutes §32-26. MY Personal Represaatative shall have the power to make divisions or distributions in money or in kind or partly in each, Pro rata or non-Pro rata, whenever required or permitted to divide or distribute all or part of my estate; in dividing or distributing arty asset of my estate that is income in respect of a decedent' °n' P~'~ Reprenattative may take into account the income tax liabil' asset, both to mnnn+l9P the 1t1COmC taX On my estate and the ben ~ a830t~18ted `~''~' the amourN rncdved by ~ ber~ci efieaary and to consider the after--tax °tY ard, ~ ~g enY such divisions or dispibupons, the judgment of my Personal Representative in the selection and valwtion of the assets to be divided or distributed shall be binding and conclusive. Ihi WITNESS WI~REOF, I, RICHARD M FRITH dte testator, sign my name to this ingtrtmtent this .~ day of J1~e t! 2003, and being first duly sworn, do hereby declare to the uttdusagned authority that I sign and execute this ir~uuntpn as my last will and the I sign it willingly, that I execute it as ray tiee and vohuttary act far the age or okkr, of sound PmP~ theran ' and that I am eighteen years of mind, and order m or undue in8uenoe. I y~~~~ RI D M ; ~ . ~S~') ~'~ 1d2~.rrl~ ,~,if std .1~~~~ ~. BUZAS the ' rtmtes to this inauttment, being Srst duly sworn, and do ~ siga ow te$tatar ' ~ hereby detdare to the urdersigrted authority ~ the ~ executes this umatt as ~ ~ ~ std that he ' in the p and hearing oftt~ testntor s~ >t ', and that each of us, the beat ofour ' ~5' ~ this ~ ~ t~+itrttss to the tesUUOr's signing, and to koovvledge the testator is eighteen yeas ofage or older, of sound rttind, and under no oorurJSirk or io6vence. W Mme Co~mtY, North Carolina ~~~\ _ Moore County, North Carolina STATE OF NORTH CAROLINA COUNTY OF MOORS en~sat~bed, swum to and admowled before me by RIt~7ARD M FRiTZ, the testator, and this der ~~-~~ 2CJ03. ~1~ ~ i~ My NOTAiIr os~ ~IDLIC FritRimdv STATE OF NORTH CAROLINA RICHARD M. FRITZ COUNTY OF MOORS FIRST AMENDMENT AND COMPLETE RESTATEMENT OF TRUST On February 3, 1995, I, RICHARD M. FRITZ, signed a trust instrument with myself as Trustee. Article II provides that I may from time to time amend or revoke the trust instrument in whole or in part by sited instruments delivered to the Trustee during my life. I hereby amend the trust instrument in its entirety by substituting the following for Articles I through XII thereof. I. Tru~t,Na~++~P. This instrument, and the initial trust hereby evidenced, as from time to time amended, may be designated as set out in this Article or a similar caption: RICHARD M. FRITZ TRUST RICHARD M. FRTTZ, TRUSTEE U/A DTD February 3, 1995 and Completely Restated ~(!oa/ ! ~ ~ , 2003. II• l3eservation of Rights. I shall have the right from time to time hereafter to add to the trust estate hereby created, by will or otherwise, other property acceptable to the Tntstce. I reserve the right to alter, amend or revoke this ageemerrt in whole or in part at such time as I may see fit by written instrument delivered to the Trustee (or, if I am serving as the initial Trustce, by written instrument filed with the trust records). III. Payments During Gran+nr~ Life. I, 8S Trustee, shall receive, hold, and all property received hereunder and shall rn~Be and invest any of income and principal as I may from time to t~imerequest and such additional amounts of in me and principal as I or a successor Trustee may, in the case of my incapacity or resignation, from time to time deem necessary or advisable for my comfort, maintenance, support and pleasures Any income not so paid shall be accumulated and annually or more often, if convenient, added to principal and invested. IV. Trust ontinuation .'L~Pr C~rnn+nrc nPS+>, e ~ rv7~7na. Upon my death, if my spouse survives me, the Trustee shall set aside and hold as a separate trust referred to as the "Family Trust" a pecuniary sum equal to the largest amount, if arty, that can pass under this paragraph free of federal estate tax in the federal estate tax proceeding relating to my estate by reason of (i) the unified credit and (ii) the state death tax credit to the extent that use of the state death tax credit does not require an increase in state death taxes paid which are computed by reference to the state death tax credit. In [ij determining the largest amount that can pass free of federal estate tax the Trustee shall take account of (i) the value of property passing to beneficiaries in any manner other than pursuant to this paragraph which is includible in my gross estate but which does not qualify for the marital or charitable deduction in computing my federal estate tax, and (ri") all charges to principal that are not allowed as deductions in computing such tax. In making the computations to determine arty amount hereunder, the final determination of values for federal estate tax purposes shall control. The Trustee shall distribute the remaining portion of the trust, if arty, to my spouse. A. The RICHARD M. FRiTZ FAMII,Y TRUST shall be administered as follows: 1. One-half (1/2) of the trust shall be apportioned into four (4) equal shares so that one share is apportioned for each of my four clv'Idren. The shares apportioned for KATHRYN L. BOGDAN, MARYANNE M. BUSCH and RICHARD A. FRITZ shall be distributed outright to them, or if any of them is then deceased, such deceased child's share shall be distributed to such child's issue, gg~ , The share apportioned for DAVID J. FRITZ shall be distributed to his children then living, in equal shares. 2• One-half (1/2) of the trust shall be held in trust, and during the lifetime of my spouse, the net income derived from the trust estate shall be paid over to my spouse, LOIS M. FRITZ, or applied for her benefit in monthly or quarterly installments. The Trustce may at any time pay to or for the benefit of my spouse so much of the principal, whether the whole or in a lesser amount, as the Trustee may in her discretion determine to be necegsaq+ for my spouse's health, support in reasonable comfort, or maintenance. Should this power in the Tnrstce to make distributions of principal to herself as benefi- ciary need to be exercised, then, in that event, my alternatively named fiduciary shall become Co- Trustce at that time and alone exercise discretion as to principal invasion. Upon my spouse's death, the trust estate shall be distributed to such appointees among my children and their issue as my spouse may appoint by her last will by specific reference to this power. This power may not be exeresed in favor of my spouse, my spouse's estate, my spouse's creditors, or the creditors of my spouse's estate. To the extent this limited power of appointment is not effectively exercised, ~Y unappointed property shall be administered and distributed as follows: (a) One-fourth (I/4) to my daughter, KATHRYN L. BOGDAN, if she is then living, or to her issue, p~,r std, if she is then deceased. N) One-fourth (l/4) to my daughter, MARyANNB M. BUSCH, ifshe is then living, or to her issue, pgr sti~~. , if she is then deceased. (c) One-fourth (1/4) to my son, RICHARD A FRITZ, if he is then living, or to his issue, pgr stir, if he is then deceased. (d) One-fourth (l/4) to be administered in trust for the benefit of DAVID J. FRITZ and his children as follows: (i) one-half (1/2) outright to the children of DAVID J. FRITZ, in equal shares. [2) Ci) one-half (1/2) outright to my son, DAVID J. FRITZ; however, if DAVID is not located by the Trustee within one year after the trust is distributable then this half shall then be distributed to DAVID's children then living, in equal shares. V• S,~use Not Surviving. Upon my death if my spouse does not survive me, the trust shall be distributed as set forth in subparagraph 2(a) through 2(d) ofArticle IV above ~• _Tnist fo_ r Be~.y Under Aoe T_ w~~~ If in accordance with the Foregoing provisions of this trust agreemem a share of trust property is reached the age of twenty-five (25), such share shall vest in su~ benefieiaryt t but shalfinot be dist bated to such beneficiary, but, instead, the Trustee shall be authorized to hold such share in trust for the benefit of the beneficiary as follows: 1 • Uriul the beneficiary reaches the age of twenty-five (25) or sooner dies, the Trustee may distribute all or any portion of the net income and principal of the trust to the beneficiary in such amounts and at such times as the Trustee, in its discretion, may determine to be necessary or advisable for such beneficiary's comfort, rtraintenance, education and general welfare. 2. When the beneficiary reaches the age oftwenty--five (25), the Trustee shall distribute the then remaining principal and undistributed income to the beneficiary. If the beneficiary dies before ~~8 Bch age, then upon the death of the beneficary, the Trustee shall distribute the then remaining prtnapal and undistributed income to the estate of the beneficiary, Notwithstanding the foregoing, the Trustee may disdibute a baieficiary's share under this Article to a custodian the Trustee appoints under the North Carolina Uniform Transfers to Minors Act, or such similar uniform act of the beneficiary's jurisdiction. ~• Powers of Tructr~ I • grant to the Trustee the contimring, absolute, discretionary power to deal with arty property, real or personal, held in any trust, as freely as I might in the handling of my own affairs. Such power may be exercised independently without prior or subsequent approval of any judicial authority, and no person dealing with the Trustee shall be required to inquire into the propriety of any of its actions. The Tnistee is authorized to appoint agents (including attorneys-in-faa) and delegate its discretionary authority to such agems. Without in any way limiting the generality of the foregoing, the powers enumerated in North Carolina General Statutes §32-27 are hereby incorporated by reference and granted to the Trustee, subject to the restrictions of General Statutes §32-26. In addition, the Trustee shall have the power to permit any person having any interest in the income of any trust created hereunder to occupy any real property forming part of such trust upon such terms as the Trustee shall deem proper, whether rent free, or in consideration of the payment of taxes, insurance, maintenance and ordinary repairs, or otherwise. [3j VIII. Pavmen_ t nfR~uParQ T~ Q ,,,,~ F . Ifmy Personal Representative shall sums for the payment in whole or in art of guest P my bequests and devises, debts, administration and funeral expenses, estate, inheritance and similar taxes the Trustee shall pay to the Personal Representative any and all such sums. IX. Succes. r T ~~ees. Upon my death, resignation, or incapacity as initial Trustee, my spouse, LOIS M. FRITZ, shall serve as successor Trustee. Should she fail to become successor Trustee for any reason or cease to act in that capacity, my daughter, KATHRYN L. BOGDAN, shall serve in her stead. Shand she fail to become successor Trustee for any reason or cease to act in that capacity, my son' RICHARD A. FRITZ, shall serve in her stead. Any Trustee acting hergrnder may nominate a successor Trustee. A successor Trustee shall have no duties under this agreement until said successor Trustee shall have actual knowledge or have received notice of the death, resignation or incapacity of the predecessor Tnrstee. X• ~untinaa. The Trustee shall not be required to file with any court periodic accounting with respect to any trust created herein. ~' mventory or XI. Governing Imo. This bust is created under, it is overned and adrmmstered according to the laws of the State of North Caro • ~' and it is to.be construed silos of this trust shall change to another jurisdiction, the laws of the new si ~ the ~~~~~ if the thereafter govern the construction and administration of this trust. ~• Presumption of 6,nr;. If any beneficiary under this trust and I should die under such circumstauces that there is uncertainty as to which person predeceased the other, it shall be conclusively Presumed for the purposes of this trust that such beneficiary predeceased me, except that it shall be conclusively presumed that my spouse, LOIS M. FRTfZ, survived me. IN WITNESS WHEREOF, I have duly executed this Amendment and Complete Restatement of Trust on this 1~ day of t~ f p ~/ 2003, and attached my seal hereto. r ` ~ ~ (SEAL) ~ M. FRIT' (Grantor & Initial Trust e) [4J STATE OF NORTH CAROLINA COUNTY OF MOORS I' YAR{(n YAU(, Notary Public of the County and State aforesai RICHARD M~FRi'f `as Grantor and initial Trustee, personal d+ ~ify that ged the ex on of he foregoing instrument, Witness ~ }~dbefore ~ s~day o ~l this day of p 2003. ~P My commission expires: / ~ ~-_ [5] FritLomdv STATE OF NORTH CAROLINA LOIS M. FRTTZ COUNTY OF MOORS FIRST AMENDMENT AND COMPLETE RESTATEMENT OF TRUST On February 3, 1995, I, LOIS M. FRITZ, signed a trust instrument with myself as Trustee. Article R provides that I may from time to time amend or revoke the trust instrument in whole or in part by signed instruments delivered to the Trustee during my life. I hereby amend the trust instrument in its entirety by substituting the following for Articles I through XI thereof. I• ~. This instrument, and the initial trust hereby evidenced, as from time to time amended, may be designated as set out in this Article or a similar caption: LOIS IvL FRITZ TRUST LOTS M. FRTfZ, TRUSTEE U/A DTD February 3, 1995 and Co pletely Restated sf~l~Mfft.P /~~_ 2003. u• B~a~rs+ation of Ri t . I shall have the right from time to time hereafter tq add to the trust estate hereby created, by will or otherwise, other property acceptable to the Trustee. I reserve the right to alter, amend or revoke this agreement in whole or in part at such time as I may see fit by written instrument delivered to the Trustee (or, if I am serving as the initial Trustee, by written instrument filed with the trust records). IN• s~urina C.rn~r.,rg r 'r , I, ~ Trustee, shall receive hold and all Property received hereunder and shall pay to or for my benefit during my lifetmem su hd ramountany of income and principal as I may from time to time request and such additional amounts of income and principal as I or a successor Trustee may, in the case of my incapacity or resignation, from time to time deem necessary or advisable for my comfort, maintenance, support and pleasures. Arty income not so Pard shall be accumulated and annually or more often, if convenient, added to principal and invested. IV. Trust Continuation After Oraer~re Death Snn„aP a tin spouse survives me, the Trustee shall set aside and hold as a se Up°D ~' death, if my Trost" a Pecuniary sum equal to the largest amount, if any, that cantpass undr a h~ to as the "Family federal estate tax in the federal estate tax roceedi Paragraph free of P ng relating to my estate by reason of (i) the unified credit and (ii) the state death tax credit to the extent that use of the state death tax credit does not require an increase in state death taxes paid which are computed by reference to the state death tax credit. In [1] determining the largest amount that can pass free of federal estate tax the Trustee shall take account of (i) the value of property passing to beneficiaries in any manner other than pursuant to this paragraph which is includible in my gross estate but which does not qualify for the marital or charitable deduction in computing my federal estate tax, and (ii) all charges to principal that are not allowed as deductions in computing such tax. In making the computations to determine any amount hereunder, the final determination of values for federal estate tax purposes shall control. The Trustce shall distribute the remaining portion of the trust, if any, to my spouse, A. The LOIS M. FRITZ FAMII.Y TRUST shall be administered as follows: 1 • One-half (1/2) of the trust shall be apportioned into four (4) equal shares so that one share is apportioned for each of my four children. The shares apportioned for KATHRYN L. BOGDAN, MARYANNE M. BUSCH and RICHARD A. FRITZ shall be distributed outright to them, or if any of them is then deceased, such deceased child's share shall be distributed to such child's issue, pgf ;throes, The share apportioned for DAVID J. FRITZ shall be distributed to his children then living, in equal shares. 2. One-half (l /2) of the trust shall be held in trust, and during the lifetime of my spouse, the net income derived from the trust estate shall be paid over to my spouse, RICHARD M. FRITZ, or applied for his benefit in monthly or quarterly installments. The Trustce may at any time pay to or for the benefit of my spouse so much of the principal, whether the whole or in a lesser amount, as the Trustee may in his discretion determine to be necessary for my spouse's health, support in reasonable comfort, or maintenance. Should this power in the Trustee to make distributions of principal to himself as beneficiary need to be exercised, then, in that evem, my alternatively named fiduciary shall become Co-Trustee at that time and atone exercise discretion as to principal invasion. Upon my spouse's death, the trust estate shall be distributed to such appointees among my children and their issue as my spouse may appoint by his last will by specific reference to this power. This power may not be exercised hn favor of my spouse, my spouse's estate, my spouse's creditors, or the creditors of my spouse's estate. To the extent this limited power of appointment is not effectively exercised, any unappointed property strap be administered and distributed as follows: (a) One-fourth (1 /4) to my daughter, KATHRYN L. BOGDAN, if she is then living, or to her issue, pgE sti , if she hs then deceased, N) One-fourth (1/4) to my daughter, MARYANNE M. BUSCH, if she is then living, or to her issue, ~s<troes• if she is then deceased. (c) One-fourth (1/4) to my son, RICHARD A FRITZ, if he is then living, or to his issue, pgr is iroe_c, if he is then deceased: (d) One-fourth (1/4) to be administered in trust for the benefit of DAVID J. FRTfZ and his children as follows: (i) one-half (1/2) outright to the children of DAVID J. FRITZ, in equal shares. [2j (ii) one-half (1/2) outright to my son, DAVID J. FRITZ; however, if DAVID is not located by the Trustee within one year after the trust is distributable then this half shall then be distributed to DAVID's children then living, in equal shares. V. Spouse Not Surviving. Upon my death if my spouse does not survive me, the trust shall be distributed as set forth in subparagraph 2(a) through 2(d) of Article IV above. VI. Trust forBeneficiarv I nd r Age Tw~ya~, provisions of this trust agreement a share of trust roe If rn accordance w,th the foregoing reached the age of twenty-five (25), such share shall vestt in such beneficiaryt but shall not be distributed to such beneficiary, but, instead, the Tnustee shall be authorized to hold such share in trust for the benefit of the beneficiary as follows: 1 • Until the beneficiary reaches the age of twenty-five (25) or sooner dies, the Trustee may distribute all or arty portion of the net income and principal of the trust to the beneficiary in such amounts and at such rimes as the Trustee, in its discretion, may determine to be necessary or advisable for such beneficiary's comfort, maintenance, education and general welfare. 2• When the beneficiary reaches the age of twenty-five (25), the Trustee shall distribute the then remaining Principal and undistributed income to the beneficary. If the beneficiary dies before reaching such age, then upon the death of the beneficiary, the Trustee shat! distribute the then remaining principal and undistributed income to the estate of the beneficiary. Notwithstanding the foregoing, the Tntstee may distribute a beneficiary's share under. this Article to a wstod~an the Trustee appoints under the North Carolina Uniform Transfers to Minors Act, or such similar uniform act of the beneficiaryrs jurisdiction. VII. Powers of Trustee, I grant to the Trustee the continuing, absolute, discretionary power to deal with any property, real or personal, held in any trust, as freely as I might in the handling of my own affairs. Such power may be exercised independently without prior or subsequent approval of any judicial authority, and no person dealing with the Tnustee shall be required to inquire into the propriety of any of its actions. The Trustee is authorized to appoint agents (including attorneys-in-fact) and delegate its discretionary authority to such agents. Without in any way limiting the generality of the foregoing, the powers enumerated in North Carolina General Statutes §32-27 are hereby incorporated by reference and granted to the Trustee, subject to the restrictions of General Statutes §32_26. In addition, the Trustee shall have the power to permit any person }raving any interest in the income of any trust created hereunder to occupy arty real property forming part of such trust upon such terms as the Trustee shall deem proper, whether rent free, or in consideration of the payment of taxes, rnsurar-ce, maintenance and ordinary repairs, or otherwise. [3] VIII. Payment of BgquPCrc Taxec anrt F If my Personal Representative shall request sums for the payment in whole or in part of my bequests and devises, debts, administration and funeral expenses, estate, inheritance and similar taxes the Trustee shall pay to the Personal Representative any and all such sums. IX. S rp a r Try tees. Upon my death, resignation, or incapacity as initial Trustee, my daughter, KATHRYN L. BOGDAN, shall serve as successor Trustee. Should she fail to become successor Trustee for any reason or cease to act in that capacity, my son, RICHARD A. FRTTZ, shall serve in her stead. Any Trustee ailing hereunder may nominate a successor Trustee. A successor Trustee shall have no duties under this agreement until said successor Trustee shall have actual knowledge or have received notice of the death, resignation or incapacity of the predecessor Trustee. X• ~. The Trustee shall not be required to file with any court any inventory or periodic accounting with respect to any trust created herein. XI. Govern~in¢ r~ai. This host is created under, it is governed and administered according to the laws of the State of North Caroli ~ and it is to be construed silos ofttus xrust shall change to another jurisdiction, the laws of thennewrsitus ofhhe trust~shall ~~ thereafter govern the construction and administration of this trust. IN WITNESS WHEREOF, I have duty executed this Amendment and Complete Restatement of Trust on this ~,~ day of_ 2003, and attached my seal hereto. STATE OF NORTH CAROLINA COUNTY OF MOORE Luis M. RITZ!(SEAT,) (Grantor & Initial Trustee) I' ~G ~ ~ oumy and State aforesai LOIS M. FRITZ, as Grantor/~an~~ ial TrNirsi~ ~blic of the C ~ ~~, ~ edged the exewdon of the fo ce, personally appeared before me this day and acknowl- regoing instrun-ent. Witness my hand and offic,' or seal, this day of~ il/K~.P 2003. ~ T "-'"r ~~~ My commission er~ires: D. NOTAgy ea• Pl/BU C f41 NOV-q-2008 10:57q FROM: ST. JOSEPH CHURCH 7)795-9123 70:2322142 p y,9 GIFTING BY RICHARD M. FRITZ OCTOBER 2007 -OCTOBER 2008 Lnw ONFICEB BALL, MURREN Bt CONNELL 2909 MARI~T 6?REET CAMP Hn,i„ PENNSYLVANIA 17011 PHILIP J. MURREN (717) 292-8791 RICHARD E. CONNELL FACSIMILE (717) 292-2142 WIWAM BENTLEY BALL TERESA R' MCCORMACIC (1 B I61 SSY) - THOMAS A. GPPER - MAILING ADDRESS: P.O. SO% 11 OS HAaalsavaa, PENNBYLYANIA 17108-1108 HAND DELIVERED July 17, 2009 Glenda Farner Strasbaugh ~p Register of Wills ~~ n ~ r ( f~ ;~ Cumberland County Courthouse ,~?~, ; _ ~'; , One Courthouse Square = v5X -,+ s, Cazlisle, PA 17013 °ocl~.l p, 5;; ~~ 3 .-. '-Tl RE: Estate of Richard M. Fritz a-' "' Date of Death: 10-20-08 cn ro ,, Will No. 2008-1084 Our File No. 2758.3 Deaz Ms. Farner Strasbaugh: Enclosed please find, in duplicate, the Inheritance Tax Return and Inventory for Richard M. Fritz. Please date-stamp the additional copies of the Return and Inventory for our records. Also enclosed, please find a check in the amount of $30 for the filing of the Return and Inventory. Very ly yours, Richard E. Connell REC/hmp Enclosures cc: Mrs. Kathryn L. Bogdan (w/enclosures)