HomeMy WebLinkAbout09-21-09 (3)1505607121
REV-1500 EX (06-05) OFFICIAL USE ONLY
PA Department of Revenue
Bureau of Individual Taxes County Code Year File Number
PO sox 280801 INHERITANCE TAX RETURN 2 1 0 9 0 2 5 5
Harrisburg PA 17128-0801 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death Date of Birth
1 7 9 2 0 0 8 2 5 0 2 1 5 2 0 0 9 0 7 1 6 1 9 2 7
Decedent's Last Name Suffix Decedent's First Name MI
C H A S E E D N A S
(If Applicable) Enter Surviving Spouse's Information Beiow
Spouse's Last Name Suffix Spouse's First Name MI
C H A S E R O D N E Y
Spouse's Social Security Number
l ,a O y~ ~ ~
l TH{S RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
a 1. Original Return ~ 2. Supplemental Return ~ 3. Remainder Return (date of death
prior to 12-13-82)
4. Limited Estate ~ 4a. Future Interest Compromise (date of ~ 5. Federal Estate Tax Return Required
death after 12-12-82)
Q 6. Decedent Died Testate ~ 7. Decedent Maintained a Living Trust 8. Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust)
9. Litigation Proceeds Received ~ 10. Spousal Poverty Credit (date of death ~ 11. Election to tax under Sec. 9113(A)
between 12-31-91 and 1-1-95) (Attach Sch. O)
CORRESPONDENT -THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED T0:
Name Daytime Telephone Number
J A C Q U E L I N E A K E L L Y ? 1 7 5 4 1 5 5 5 0
Firm Name (If Applicable)
J A N L B R O W N & A S S O C I A T E
First line of address
8 4 5 S I R T H O M A S C O U R T
Second line of address
S U I T E 1 2
Gity or Post Office
H A R R I S B U R G
State ZIP Code
it REGISTER OF WILLS USE ONLY
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Correspondent's a-mail address:JACKIEJL6 _VERIZON.NET
Under pens of perjury, I declare that I have examined this return, induding accompanying schedules and statements, and to the best of my knowledge and
it is true, co a d ra ' n of eparer o r than the'personal representative is based on all information of which preparer has any knowledge.
CIrNATt E P R I FOR F NG RETURN _ DAT _
ADDRESS
3609 WEYMOUTH DRIVE MECHANICSBURG PA 17050
SIGNATURE OF PREPARER OTHER TH~1~1 REPRESENTATIVE .. ~ DAVE
845 S~2R THOMAS COURT, STE 12 HARRISBURG PA 17109
PLEASE USE ORIGINAL FORM ONLY
Side 1
1505607121 1505607121
1505607221
REV-1500 EX
Decedent's Social Security Number
decedent's Name: E D N A S• CHASE 1 7 9 2 0 0 8 2 5
RECAPITULATION
1. Real estate (Schedule A) ...................................... .. 1.
5
9
5
6
5.
0
0
2. Stocks and Bonds (Schedule B) ................................ .. 2.
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ... .. 3.
4. Mortgages & Notes Receivable (Schedule D) ...................... .. 4.
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ..... .. 5. 1 1 8 . 3 1
6. Jointly Owned Property (Schedule F) ~ Separate Billing Requested .... ... 6. 2 1 . 7 6
7. Inter-Vivos Transfers & Miscellaneous Ng~-Probate Property 6 0 D 1 5 9 2
(Schedule G) UX Separate Billing Requested .... ... 7. .
8. Total Gross Assets (total Lines 1-7) ........................ ... 8. 1 1 9 7 2 0. 9 9
9. Funeral Expenses & Administrative Costs (Schedule H) ............. ... 9. 8 1 6 8 . 7 6
10. Debts of Decedent, Mort a e Liabilities, & Liens Schedule I
9 9 ( ) ......... 10.
... 3 3 D 5 8. 3 3
11. Total Deductions (total Lines 9 & 10) ........................ ... 11. 4 1 2 2 7. 0 9
12. Net Vatue of Estate (Line 8 minus Line 11) ...................... ... 12. 7 8 4 9 3 . 9 0
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which 1 9 9 3 3 D
an election to tax has not been made (Schedule J) ............... ... 13. .
14. Net Vafue Subject to Tax (Line 12 minus Line 13) ............... ... 14. 7 6 5 D 0 . 6 0
TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
transfers under Sec. 9116
16. Amount of tine 14 taxable
7 6 5 0 0
6
D
at lineal rate X .045 . 16.
17. Amount of Line 14 taxable 0 D 0
at sibling rate X .12 17.
18. Amount of Line 14 taxable
D
D
D
at collateral rate X .15 18.
19. Tax Due ................................................ 19.
20. FILL 1N THE OVAL 1F YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
0. 0 0
3 4 4 2. 5 3
0. D 0
0. D 0
3 4 4 2. 5 3
a
Side 2
15056D7221 1505607221 J
rzEV-1500 EX Page 3
Decedent's Complete Address:
File Number
21 09 0255
DECEDENTS NAME
EDNA S. CHASE _________ ___ _ ______ __ _ ____
STREET ADDRESS
2100 Bentcreek Boulevard
- -- --
CITY STATE ZIP
Mechanicsbur PA 17050
Tax Payments and Credits:
1. Tax Due (Page 2 Line 19)
2. Credits/Payments
A, Spousal Poverty Credit
B. Prior Payments
C. Discount
Interest/Penalty if applicable
D. Interest
E. Penalty
Total lnteresUPenalty (D + E )
If Line 2 is greater than Line 1 + Line 3, enter the difference, This is the OVERPAYMENT.
Fill in oval on Page 2, Line 20 to request a refund.
If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE.
A. Enter the interest on the tax due.
(1) 3,442.53
Total Credits (A + B + C) (2)
0.00
(3) 0.00
(4) 0.00
(5) 3,442.53
(5A)
B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (5B) 3,442.53
Make Check Payable fo: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred : ............................................................... ....... ^
b. retain the right to designate who shall use the property transferred or its income; O
::::::::::::::::::::::::
c. retain a reversionary interest; or ............................................................ :::::::
d. receive the promise for life of either payments, benefits or care? ................................................ ^
....... 0
2. ff death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? ................................................................................ ....... ^
3. 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? ........................................................................................... ....... 0 ^
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 does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure 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 childtwenty-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(0)(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(0)(1)1•
The tax rate imposed on the net value of transfers to or for the use of the decedents siblings is twelve (12) percent ['12 P.S. §9116(0)(1.3)]. Asibling is defined, under
Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
REV-1502 EX + (6-98)
SCHEDULE A
COMMONWEALTH OF PENNSYLVANIA REAL ESTATE
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
FILE
EDNA S. CHASE 21 09 0255
All rest properly owned soley or as a tenant In common must be reported at fair market value. Fair market value is defined as the price at which property would be
exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts.
Real property which is jointlyowned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. Real property located at 242 E. Union Street, Bethlehem, PA 59,565.00
owned as tenants in common with daughter, Victoria J. Sweet
See attached tax assessment: FMV= $33,000 x 3.61 (CLR) _ $119,130/2 = $59,565
TOTAL (Also enter on line 1,
(If more space is needed, insert additional sheets of the same size)
REV-1508 EX + (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
DESCRIPTION
EDNA S. CHASE 21 09 0255
Include the proceeds of lifiyation and the date the proceeds were received by the estate.
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM
NUMBER
Fifth Third Bank
Checking Account 0700606899
FILE NUMBER
VALUE AT DATE
OF DEATH
118.31
TOTAL (Also enter on line 5, Recapitulation) I $
(If more space is needed, insert additional sheets of the same size)
REV-1508 EX + (6-88)
SCHEDULE F
COMMONWEALTH OF PENNSYLVANIA JOINTLY-OWNED PROPERTY
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ATE
EDNA S. CHASE 21 09 0255
K an asset was made joint within one year of the decedent's date of death, it must be reported on Schedule G.
SURVIVING JOINT TENANT(S) NAME
A. Deborah McHugh 13609 Weymouth Drive
Mechanicsburg, PA 17050
ADDRESS RELATIONSHIP TO DECEDENT
daughter
B
C
JOINTLY-OWNED PROPERTY:
ITEM
NUMBER LETTER
FOR JOINT
TENANT DATE
MADE
JOINT DESCRIPTION OF PROPERTY
INCLUDE NAME OF FINANCIAL INSTITUTION AND BANK ACCOUNT NUMBER OR SIMILAR
IDENTIFYING NUMBER. ATTACH DEED FOR JOINTLY-HELD REAL ESTATE.
DATE OF DEATH
VALUE OF ASSET %OF
DECD'S
INTEREST DATE OF DEATH
VALUE OF
DECEDENT'S INTEREST
1. A. 5/2006 M8~T Bank 43.51 50. 21.76
Checking Account 9841209019
TOTAL (Also enter on line 6, Recapitulation) , 3 21.76
(If more space is needed, insert additional sheets of the same size)
REV-1510 EX + (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
SCHEDULE G
INTER•VIVOS TRANSFERS ~
MISC. NON-PROBATE PROPERTY
FILE
EDNA S. CHASE 21 09 0255
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes.
ITEM
NUMBER DESCRIPTION OF PROPERTY
INCLUDE THE NAME OF THE TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT ANp
THE DATE OFTftANSFER.ATTACHACOFYOFTHEOEEDFORREALESTATE.
DATE OF DEATH
VALUE OF ASSET
% OF DECD'S
INTEREST
EXCLUSION
(IFAF'PLICAELE)
TAXABLE
VALUE
1. Edna S Chase Revocable Living Trust dtd 12/2011996 10,100.84 100. 10,100.84
Trust Estate is comprised of the following:
Morgan Stanley Bank Dep Acct 604-074357-322: $8,975.84
IRA distributions received after death: $1,125
4 charities are specific beneficiaries of the Trust; 3 daughters,
Deborah McHugh, Cynthia Horan, Victoria Sweet are benef
of the residue
2. Morgan Stanley IRA No. 604-074381-322 49,915.08 100. 49,915.08
daughter, Deborah McHugh, is beneficiary
TOTAL (Also enter on fine 7 RecapituVation) ~ $ 60,015.92
(If more space is needed, insert additional sheets of the same size)
REV-1511 EX + (10-06)
SCHEDULE H
COMMONWEALTH OF PENNSYLVANIA FUNERAL EXPENSES ~
INHERITANCE TAX RETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
EDNA S. CHASE 21 09 0255
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. Neill Funeral Home 29822
2. Reverand William Murphy; funeral service 300.00
3. St. Stephen's Episcopal Cathedral; burial plot 1,000.00
4. St. Stephen's Episcopal Cathedral; flowers 150.00
B. ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
Name of Personal Representative (s)
Street Address
cry State Zip
Year(s) Commission Paid:
2 Attorney Fees Jan L. Brown & Associates 5,500.00
3, Family Exemption: (If decedent's address is not the same as claimants, attach explanation)
Claimant
SVeet Address
Chy State Zip
Relationship of Claimant to Decedent
4. Probate Fees Register of Wills, Cumberland County 149.00
5 Acxountant's Fees Parks & Company 250.00
6. ~ Tax Return Preparer's Fees
7. Register of Wills, Guardianship Final Report filing fee 15.00
8. Cumberland Law Journal; legal advertising 75.00
9. The Sentinel; legal advertising 187.54
10. Register of Wills; account fee 165.00
11. Register of Wills; additional short certs 4.00
12. Register of Wills; additional probate fees 45.00
13. Register of Wills; filing fees for Inventory and Inheritance Tax Return 30.00
TOTAL (Also enter on line 9, Recapitulation) S $.168.7E
(If more space is needed, insert additional sheets of the same size)
REV-1512 EX + (12-03)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
1TE OF
SCHEDULE 1
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, & LIENS
FILE NUMBER
EDNA S. CHASE 21 09 0255
Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. Alert Pharmacy; outstanding medical bill 57.09
2. Washington Mutual; Loan No. 5003302857 27,769.97
Date of death balance: $27,769.97
3. Pennsylvania Housing Finance Agency; Account No. HE0001457480 5,231.27
Date of death balance: $5,231.27
TOTAL (Also enter on line 10, Recapitulation) I $
(If more space is needed, insert additional sheets of the same size)
SCHEDULE J
COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
EDNA S. CHASE 21 09 0255
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS [indude outright spousal distributions, and transfers under
Sec. 9116 (a) (1.2)]
1. Deborah McHugh Lineal 49,936.84
3609 Weymouth Drive Sch F & G
Mechanicsburg, PA 17050
2. Cynthia Horan Lineal 0.00
46 verett Street
Manchester, NH 03104
3. Victoria Sweet Lineal 26,563.76
242 E. Union Boulevard Sch A less applicable
Bethlehem, PA 18018 debt
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
1. A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
8. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1. Suncoast Seabird Sanctuary, lnc (pro rated amount) 362.42
18328 Gulf Boulevard
Indian Shores, FL 33785
2. Church of the Good Shepherd (pro rated amount) 543.62
639 Edgewater Drive
Dunedin, FL 34698
3. St. Mary's Episcopal Church (pro rated amount) 543.63
100 W. Windsor St., PO Box 13685
Reading, PA 19612
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET S 1 993.30
(If more space is needed, insert additional sheets of the same size)
Continuation of REV-1500 Inheritance Tax Return Resident Decedent
EDNA S. CHASE 21 09 0255
Decedent's Name Page 1 File Number
Schedule J -Beneficiaries - 2B
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
4. Trinity Episcopal Church (pro rated amount) 543.63
44 East Market Street
Bethlehem, PA 18018
SUBTOTAL SCHEDULE J•26
543.63
ATTACHMENT TO REV-1500
ESTATE OF
EDNA S. CHASE
FILE NUMBER
21 09 4255
Attorney's fees as shown on Schedule H are reasonable in amount considering the legal
time required and expense involved in these matters, specifically the work involved with probate,
estate administration and trust administration.
Separate billing is requested for each beneficiary's applicable share of tax as illustrated
below with the chart. Because Victoria Sweet received the real property (Schedule A) as a
specific bequest under the Will, she also assumes the debt (mortgages) on the property, which
reduces her tax liability as shown on the chart below. The only other taxable property is charged
against Deborah McHugh as she is the beneficiary of the IRA and surviving joint owner of they
small joint account. The remaining property is comprised of Schedule E and Schedule G (Trust
property) property. After the administrative costs are deducted, the remaining Schedule E and
Trust residue is specifically bequeathed to four separate charities in a pro-rated amount and is
therefore taxed at zero percent.
Applicable inheritance tax liability has been computed as follows:
Assets
Beneficia Received Less Debts Subtotals Tax
Deborah McHugh $49,936.84 $49,936.84 $2,247.16
SchF&G
Victoria Sweet $59,565.00 -$33,001.24 $26,563.76 $1,195.37
(Sch A)
Charities $1,993.30 $1,993.30 $0.00
(pro rated portion
of Trust residue
& Sch E
$111,495.14 -$33,001.24 $78,493.90 $3,442.53
Separate billing is requested for the property received by Deborah McHugh and Victoria
Sweet. Billing addresses are set forth below for purposes of sending a bill to Victoria Sweet. A
gill should not need to be sent to Deborah McHugh because she has attached a check to this
return in the amount of $2,247.16 for her applicable share of the taxes.
Pro a Owner Inheritance Tax Due
Deborah McHugh $2,247.16
3609 Weymouth Drive
Mechanicsbur , PA 17050
Victoria Sweet $1,195.37
242 E. Union Boulevard
Bethlehem, PA 18018
-~-
LAST WILL AND TESTAMENT
OF
EDNA 8. CHASE
Introductory Clause. I, Edna S. Chase, a resident of and
domiciled in the County of Pinellas and State of Florida, do hereby
make, publish and declare this to be my Last Will and Testament,
hereby revoking all Wills and Codicils at any time heretofore made
by me.
I am married to Rodney H. Chase.
I have three living children: Cynthia Horan, born May 14,
1949; Deborah McHugh, born December 5, 1951; and Victoria Sweet,
born April 16, 1954.
ARTICLE I.
General Bectuest of Personal and Household Effects With a
Mandatary Memorandum. I give and bequeath all my personal and
household effects of every kind including but not limited to
furniture, appliances, furnishings, pictures, silverware, china,
glass, books, jewelry, wearing apparel, boats, automobiles, and
other vehicles, and all policies of fire, burglary, property
damage, and other insurance on or in connection with the use of
this property, as follows:
A. I may leave written memoranda disposing of certain items
of my tangible personal property. Any such item of tangible
personal property shall pass according to the terms of such
memoranda in existence at the time of my death. If no such written
memoranda is found or identified by my Personal Representative
within ninety {90) days after my Personal Representative's
qualification, it shall be conclusively presumed that there is no
such memoranda and any subsequently discovered memoranda shall be
ineffective. Any property given and devised to a beneficiary who
is not living at the time of my death and for whom no effective
alternate provision has been made shall pass according to the
provisions of the following paragraph, and not pursuant to any
anti-lapse statute.
B.
memoranda
property,
effects of
survive m
bequeath
In default of such memoranda, or to the extent such
do not completely or effectively dispose of such
I give and bequeath the rest of my personal and household
every kind to my husband, Rodney H. Chase, if he shall
e. If my husband sha1~3 not survive me, I give and
all this property to my children surviving me, in
PECAREK & HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 1
approximately equal shares; provided, however, the issue of a
deceased child surviving me shall take per stirpes the share their
parent would have taken had he or she survived me. If any
beneficiary hereunder is a minor, my Personal Representative may
distribute such minor's share to such minor or for such minor's use
to any person with whom such minor is residing or who has the care
or control of such minor without further responsibility and the
receipt of the person to whom it is distributed shall be a complete
discharge of my Personal Representative. The cost of packing and
shipping such property shall be charged against my estate as an
expense of administration.
ARTICLE II.
Devise of Real Property. If at the time of my death I own an
interest in real property commonly known as 242 East Union
Boulevard, Bethlehem, Pennsylvania, I give all of my interest in
said real property to my daughter, Victoria Sweet. If my said
daughter shall predecease me, this devise shall lapse and said
property shall pass as part of the residue of my estate under
Article III.
ARTICLE III.
Pour-Over Gift to Trustee of Testatrix's Inter Vivos Trust.
I give, devise and bequeath all the rest, residue and remainder of
my property of every kind and description (including lapsed
legacies and devises), wherever situate and whether acquired before
or after the execution of this Will, to the successor Trustee under
that certain Trust Agreement between me as Settlor and me as
Trustee executed prior to the execution of this Will on
~~G~tYtBE~.- ~.~ 1996. My Trustee shall add the property
bequeathed and devised by this Article to the principal of the
above Trust and shall hold, administer and distribute the property
in accordance with the provisions of the Trust Agreement, including
any amendments thereto made before my death.
ARTICLE IV.
Namincx the Personal Representative, Personal Representative
Succession, Personal Representative's Fees and Other Matters. The
provisions for naming the Personal Representative, Personal
Representative succession, Personal Representative's fees and other
matters are set forth below:
A. Naming an Individual Personal Representative. I hereby
nominate, constitute, and appoint as Personal Representative of
this my Last Will and Testament my husband, Rodney H. Chase, and
direct that he shall serve without._._~nd.
B. Naming Individual Successor or Substitute Personal
Representative. If my individual Personal Representative -should
PECAREK & HERMAN, CHARTERED LARGO, FLORIDA C813) 584-$161 Page 2
fail to qualify as Personal Representative hereunder, or for any
reason should cease to act in such capacity, the successor or
substitute Personal Representative who shall also serve without
bond shall be the next person willing to serve from the list below
in the order named:
Deborah McHugh
Cynthia Horan
Victoria Sweet
C. Fee Schedule for Individual Personal Representatiyg. For
`' . .
its services as Personal Representative, the indivi>~.
Representative shall receive reasonable vbntpens~t~~~~ --~
services rendered and reimbursement for reasonable expenses.
ARTICLE V.
Definition of Personal Representative. Whenever the word
"Personal Representative" or any modifying or substituted pronoun
therefor is used in this my Will, such words and respective
pronouns shall include both the singular and the plural, the
masculine, feminine and neuter gender thereof, and shall apply
equally to the Personal Representative named herein and to any
successor or substitute Personal Representative acting hereunder,
and such successor or substitute Personal Representative shall
possess all the rights, powers and duties, authority and
responsibility conferred upon the Personal Representative
originally named herein.
ARTICLE VI.
Powers for Personal Representative. By way of illustration
and not of limitation and in addition to any inherent, implied or
statutory powers granted to Personal Representatives generally, my
Personal Representative is specifically authorized and empowered
with respect to any property, real or personal, at any tip held ,
under any provision. of this my Will; to allot;- allovate '~ietw~eh
principal and income, assign, borrow, buy, care for, collect,
compromise claims, contract with respect to, continue any business
of mine, convey, convert, deal with, dispose of, enter into,
exchange, hold, improve, incorporate any business of mine, invest,
lease, manage, mortgage, grant and exercise options with respect
to, take possession of, pledge, receive, release, repair, sell, sue
for, to make distributions or divisions in cash or in kind or
partly in each without regard to the income tax basis of such
asset, and in general, to exercise all the powers in the management
of my Estate which any individual could exercise in the management
of similar property owned in his or her own right, upon such terms
and conditions as to my Personal Representative may seem best, and
to execute and deliver any and alb instruments and to do all act$
which my Personal Representative 7may deem proper or necessary to
carry out the purposes of this my Will, without being limited in
PECAREK & HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 3
any way by the specific grants of power made, and without the
necessity of a court order.
ARTICLE VII.
Discretion Granted to Personal Representative in Reference to
Tax Matters. My Personal Representative as the fiduciary of my
estate shall have the discretion, but shall not be required when
allocating receipts of my estate between income and principal, to
make adjustments in the rights of any beneficiaries, or among the
principal and income accounts to compensate for the consequences of
any tax decision or election, or of any investmex~x~~; ;pr
administrative decision, that my Personal Representative~;bef]~~es
has had the effect, directly or indirectly, of preferring ane
beneficiary or group of beneficiaries over others; provided,
however, my Personal Representative shall not exercise its
discretion in a manner which would cause the loss or reduction of
the marital deduction as may be herein provided. In determining
the state or federal estate and income tax liabilities of my
estate, my Personal Representative shall have discretion to select
the valuation date and to determine whether any or all of the
allowable administration expenses in my estate shall be used as
state or federal estate tax deductions or as state or federal
income tax deductions and shall have the discretion to file a joint
income tax return with my husband.
Tes 'monium Clause. IN WITNESS WHEREOF, I have hereunto set
my hand and affixed my seal this o.2~ day of "~~-~/nP,~/1 ,
1996.
~~. ~ Ca~~-~.~~ tSEAL~
Edna S. Chase
Attestation Clause. The foregoing-Will was this .Z ~ day of
sTjECEn~B~~ 1996, signed, sealed, published and declared by
the Testatrix as and far her Last Will and Testament in our presence,
and we, at her request and in her presence, and in the presence of
each other, have hereunto subscribed our names as witnesses on the
above date.
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PECAREK 8 HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 4
PROOF OF WILL
State of Florida
Self-Proving Affidavit
County of Pinellas
We, Edna 5. Chase, and ~~YSAi3R and
the Testatrix and. the w~. " ` -"~"
res ly,' 'e names are signed to the attached orb _
instrument, being. first duly ..sworn, do hereby declare to ~ e
undersigned authority that the Testatrix signed and executed the
instrument as her Last Will and that she had signed willingly (or
willingly directed another to sign for her), and that she executed
it as her free and voluntary act for the purposes therein
expressed, and that each of the witnesses, in the presence and
hearing of the Testatrix, and in the presence of each other, signed
the Will as witness and to the best of our knowledge the Testatrix
was at that time eighteen years of age or older, of sound mind, and
under no constraint or undue influence.
Edna S. Chase
i mess _ - ,
~' ;
~~ , - ~
`~
Witn ss
Subscribed, sworn to, and acknowledged before me by Edna S.
Chase, the Testatrix, who produced her Florida Driver License as
identification, and subscribed and sworn to before me by
~..i.t~X SAtd~ al . ~~
witnesses, who are personally kl'
~~~1}1 ~~1? , 1996.
1C~ 1~AL NOTARY SEAL
~',7TAI~Y I'UBL1C STATE OF FLORIDA
CC~V1W155JON NO. CC297924
:w, \,~Y: Cp~iMIS5I()!V EXP. [ILY 15,1997
t'
FIRST AMENDMENT AND RESTATEMENT
OF TRIIST
OF EDNA S. CHASE DATED DECEMBER 20, 1996
Introductory Clause. This First Amendment and Restatement of
Trust Agreement executed in duplicate by Edna S. Chase, hereinafter
referred to as the Settlor and the said Edna S. Chase, hereinafter
referred to as the Trustee.
WHEREAS, the Settlor and the Trustee entered into a Trust
Agreement dated December 20, 1996, hereinafter called the Trust
Agreement, and
WHEREAS, Article IV of the Trust Agreement provided that the
Settlor reserved the right to amend in any manner or revoke in
whole or in part the Trust Agreement, and
WHEREAS, the Settlor is desirous of modifying and amending the
Trust Agreement and the Trustee is agreeable to the modifications
and amendments contained herein,
NOW, THEREFORE, IT IS AGREED that the entire Trust Agreement
(except Schedule A which is not modified hereby) as modified and
amended will read as follows:
ARTICLE I.
Trustee Succession if Settlor Dies or Becomes Incapacitated.
If the Settlor dies or is adjudicated to be incompetent or in the
event that the Settlor is not adjudicated incompetent, but by
reason of illness or mental or physical disability is, in the
opinion of two licensed physicians, unable to properly handle the
Settlor's own affairs, then and in that event the Trustee named
below shall immediately become the Trustee under this Trust
Agreement. The Settlor names the following as successor Trustee:
Rodney H. Chase
Third parties may rely on an affidavit by the Trustee named above
stating that the successor Trustee is now acting as Trustee
hereunder.
ARTICLE II.
Description of Property T>~ansferred. The Settlor upon
original execution of this Trust Agreement paid over, assigned,
granted, conveyed, transferred and delivered, unto the Trustee
certain property described in Schedule A, annexed hereto and made
~J
PECAREK & HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 1
a part hereof. This property and any other property that may be
received or which has been received by the Trustee hereunder, as
invested and reinvested (hereinafter referred to as the "Trust
Estate"), shall be held, administered and distributed by the
Trustee as hereinafter set forth.
ARTICLE III.
Provisions for Settlor and Settlor's Husband During Settlor's
Lifetime. The Trustee shall hold, manage, invest and reinvest the
Trust Estate (if any requires such management and investment) and
shall collect the income, if any, therefrom and shall dispose of
the net income and principal as follows:
(1) During the lifetime of the Settlor, the Trustee shall pay
to or apply for the benefit of the Settlor all the net income from
this Trust.
(2) During the lifetime of the Settlor, the Trustee may pay
to or apply for the benefit of the Settlor such sums from the
principal of this Trust as in its sole discretion shall be
necessary or advisable from time to time for the medical care,
education, support and maintenance in reasonable comfort of the
Settlor, taking into consideration to the extent the Trustee deems
advisable, any other income or resources of the Settlor known to
the Trustee.
(3) In the event that the Settlor is adjudicated to be
incompetent or in the event that the Settlor is not adjudicated
incompetent, but by reason of illness or mental or physical
disability is, in the opinion of the Trustee, unable to properly
handle the Settlor's own affairs, then and in that event the
Trustee may during the Settlor's lifetime, in addition to the
payments of income and principal for the benefit of the Settlor,
pay to or apply for the benefit of the Settlor's husband, Rodney H.
Chase, such sums from the net income and from the principal of this
Trust as in its sole discretion shall be necessary or advisable
from time to time for the medical care, education, support and
maintenance in reasonable comfort of the Settlor's husband, taking
into consideration to the extent the Trustee deems advisable, any
other income or resources of the Settlor's husband known to the
Trustee.
ARTICLE IV.
Settlor's Rights to Amend, Change or Revoke the Trust
Agreement. The Settlor may, by signed instruments delivered to the
Trustee during the Settlor's life: (1) withdraw property from this
Trust in any amount and at any time upon giving reasonable notice
in writing to the Trustee; (2) add other property to the Trust; (3j
change the beneficiaries, their respective shares and the plan of
distribution; (4) amend this Trust Agreement in any other respect;
~ -~ • ~
(5) revoke this Trust in its entirety or any provision therein;
provided, however, the duties or responsibilities of the Trustee
shall not be enlarged without the Trustee's consent nor without
satisfactory adjustment of the Trustee's compensation.
ARTICLE O.
Discretionary Provisions for Trustee to Deal with Settlor's
Estate and Make Payment of Debts and Taxes. After the Settlor's
death, the Trustee, if in its discretion it deems it advisable, may
pay all or any part of the Settlor's funeral expenses, legally
enforceable claims against the Settlor or the Settlox-'s~
reasonable expenses of administration of the Settl~~~ t
allowances by court order tathaw depend~:nt.upnn ~~~,
estate, inheritance, succession, death or similar taxes payable by
reason of the Settlor's death, together with any interest thereon
or other additions thereto, without reimbursement from the
Settlor's personal representatives, from any beneficiary of
insurance upon the Settlor's life, or from any other person. All
such payments, except of interest, shall be charged generally
against the principal of the Trust Estate includable in the
Settlor's estate for Federal estate tax purposes and any interest
so, paid shall be charged generally against the income thereof;
provided, however, any such payments of estate, inheritance,
succession, death or similar taxes (except generation-skipping
transfer taxes) and the deductions allowed on the Settlor's federal
estate tax return under sections 2053 and 2054 shall be charged
against the principal constituting the Trust Estate and any
interest so paid shall be charged against the income thereof. If
such share or trust was created as a fraction, then such taxes and
deductions thus paid shall reduce the numerator of that share or
trust and the Trust Estate, thus likewise reducing the denominator
of the fraction. The Trustee may make such payments directly or
may pay over the amounts thereof to the personal representatives of
the Settlor's estate. Written statements by the personal
representatives of such sums due and payable by the estate shall be
sufficient evidence of their amount and propriety for
protection of the Trustee and the Trus=tee shall be rte,; ~;°
see to the application of any such payments. The Trustee shall pay
over to the personal representatives of the Settlor's estate all
obligations of the United States Government held hereunder which
may be redeemed at par in payment of federal estate taxes.
ARTICLE VI.
-z ~~
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°-~_
Trust Estate to the Beneficiaries Named. Upon the death of
the Settlor, the Trust Estate (which shall include any property
which may be added from the Setrtlor's general estate) shall be
held, administered and distributed as follows: --
A. If at the time of the Settlor's death, the Settlor is `~
survived by her husband, Rodney H. Chase, then and in such event
~~ .~ .
cECAREK & HERMAN. CHARTERED LARGO, FLORIDA (813) 584-8161 Page 3
the Trustee shall retain as an asset of this trust all interest
owned by the Settlor and/or this Trust at the time of the Settlor's
death in that certain condominium apartment, commonly known as 311-
A Carver Drive, Bethlehem, Pennsylvania. The Settlor's husband
shall be allowed the rent free use of said condominium, provided
however, he shall be responsible for all costs, taxes, maintenance,
repairs, and expenses in connection with said condominium. Upon
the Settlor's husband's death, all of the interest in said
condominium which is then owned by this trust shall be distributed
in fee and in equal shares to the 5ettlor's children, Cynthia
Horan, Deborah McHugh, and Victoria Sweet. If any of the Settlor's
said children shall not be then living, such deceased child's share
shall pass to her then living descendants,. per stirpes, ~ '~,} a.I
if none to the Settlor s then livin descendants, per s~ ~f '""
• ' g ~ rm
the Settlor's husband directs that said condominium be sold, this
trust's share of the net proceeds of sale shall be distributed to
the Settlor's then living descendants, per stirpes.
B. If at the time of the Settlor's death, the Settlor is
survived by her husband, Rodney H. Chase, then and in such event
the Trustee shall retain as an asset of this trust all interest
owned by the Settlor and/or this Trust at the time of the Settlor's
death in that certain mobile home located at 106 Royal Palm Circle,
Largo, Florida, together with the share of stock in the mobile home
park owners' association. The Settlor's husband shall be allowed
the rent free use of said mobile home, provided however, he shall
be responsible for all park rent and fees, costs, taxes,
maintenance, repairs, and expenses in connection with said mobile
home. Upon the Settlor's husband's death, all of the interest in
said mobile home and park. owners' association stock which is then
owned by this trust shall be distributed in. fee and in equal shares
to the Settlor's children, Cynthia Horan, Deborah McHugh, and
Victoria Sweet. If any of the Settlor's said children shall not be
then living, such deceased child's share shall pass to her then
living descendants, per stirpes, if any, and if -none, to the
Settlor's then living descendants, per stirpes. If the Settlor's
husband directs that said mobile home be sold, this trust's share
of the net proceeds of sale shall be distributed to the settlar~s
then living descendants, per stirpes.
C. Cash bequests shall be distributed to the
organizations listed below in the amount indicated for each:
1. The sum of Fifteen Hundred Dollars ($1,500.00)
shall be distributed to the Church of the Good Shepherd
(Episcopal), located in Dunedin, Florida.
2. The sum of One Thousand Dollars ($1,000.00)
shall be distributed to the Suncoast Seabird Sanctuary, Inc.,
located in Redington Shores, Florida.
{_.
PECAREK & HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 4
__ _ _.
3. The sum of One Thousand Five Hundred Dollars
($1,500.00) shall be distributed to Trinity Episcopal Church,
Bethlehem, Pennsylvania.
4. The sum of One Thousand Five Hundred Dollars
($1,500.00) shall be distributed to St. Mary's Episcopal Church,
Reading, Pennsylvania.
D. All of the rest, residue and remainder of the Trust
Estate shall be distributed outright, free of trust, and in equal
shares to the Settlor's daughters, Cynthia Horan, Deborah McHugh,
and Victoria Sweet. If any of the Settlor's said daughters shall
predecease the Settlor, such deceased daughter's share shall be
distributed to such deceased daughter's then living descendants,
per stirpes, if any, and if none, to the Settlor's then living
descendants, per stirpes.
ARTICLE VII.
Trustee Succession, Trustee's Fees and Other Matters. The
provisions for naming the Trustee, Trustee succession, Trustee's
fees and other matters are set forth below:
A. Naming Individual Successor or Substitute Trustee. If
the initial successor individual Trustee should fail to qualify as
Trustee hereunder, or for any reason should cease to act in such
capacity, the successor or substitute Trustee who shall also serve
without bond shall be the next person willing to serve from the
list below in the order named:
Deborah McHugh
Cynthia Horan
Victoria Sweet
B. Fee Schedule for Individual Trustee. For its services as
Trustee, the individual Trustee shall receive reasonable
compensation for the services rendered and reimbursement for
reasonable expenses.
C. Limitations on Trustees. No person who at any time is
acting as Trustee hereunder shall have any power or obligation to
participate in any discretionary authority which the Settlor has
given to the Trustee to pay principal or income to such person, or
for his or her benefit or in relief of his or her legal
obligations; provided, however, if an individual trustee (who is
also a beneficiary) is the sole trustee or at any time is acting as
the sole trustee, and such trustee has discretion to invade
principal for himself or herself and such discretionary authority
is limited by an ascertainable standard, then such trustee may
invade principal (if limited by such standard) for himself or
herself but not in relief of his .or her legal obligations.
~~~ ~` .
PECAREK 8 HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 5
ARTICLE VIII.
Definition of Trustee. Whenever the word "Trustee" or any
modifying or substituted pronoun therefor is used in this Trust,
such words and respective pronouns shall include both the singular
and the plural, the masculine, feminine and neuter gender thereof,
and shall apply equally to the Trustee named herein and to any
successor or substitute Trustee acting hereunder, and such
successor or substitute Trustee shall have all the rights, powers
and duties, authority and responsibility conferred upon the Trustee
originally named herein.
ARTICLE I8.
Powers for Trustee. The Trustee is authorized in its
fiduciary discretion (which shall be subject to the standard of
reasonableness and good faith to all beneficiaries) with respect to
any property, real or personal, at any time held under any
provision of this Trust Agreement and without authorization by any
court and in addition to any other rights, powers, authority and
privileges granted by any other provision of this Trust Agreement
or by statute or general rules of law:
A. To retain in the form received any property or undivided
interests in property donated to, or otherwise acquired as a part
of the Trust Estate, including residential property and shares of
the Trustee's own stock, regardless of any lack of diversification,
risk or nonproductivity, as long as it deems advisable, and to
exchange any such security or property for other securities or
properties and to retain such items received in exchange, although
such property represents a large percentage of the total property
of the Trust Estate or even the entirety thereof.
B. To invest and reinvest all or any part of the Trust
Estate in any property and undivided interests in property,
wherever located, including bonds, debentures, notes, secured or
unsecured, stocks of corporations regardless of class, interests in
limited partnerships, real estate or any interest in real estate
whether or not productive at the time of investment, interests in
trusts, investment trusts, whether of the open and/or closed fund
types, and participation in common, collective or pooled trust
funds of the Trustee, insurance contracts on the life of any
beneficiary or annuity contracts for any benef iciary, without being
limited by any statute or rule of law concerning investments by
fiduciaries.
C. To sell or dispose of or grant options to purchase any
property, real or personal, constituting a part of the Trust
Estate, for cash or upon credit, to exchange any property of the
Trust Estate for other property, at such times and upon such terms
and conditions as it may deem best, and no person dealing with i~
shall be bound to see to the application of any monies paid.
~--~~~'
PECAREK & HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page b
D. To hold any securities or other property in its own name
as Trustee, in its own name, in the name of a nominee (with or
without disclosure of any fiduciary relationship) or in bearer
form.
E. To keep, at any time and from time to time, all or any
portion of the Trust Estate in cash and uninvested for such period
or periods of time as it may deem advisable, without liability for
any loss in income by reason thereof.
F. To sell or exercise stock subscription or conversion
rights.
G. To refrain from voting or to vote shares- of stogy whic~i ~
are a part of the Trust Estate at shareholders' meetings in person
or by special, limited, or general proxy and in general to exercise
all the rights, powers and privileges of an owner in respect to any
securities constituting a part of the Trust Estate.
H. To participate in any plan of reorganization or
consolidation or merger involving any company or companies whose
stock or other securities shall be part of the Trust Estate, and to
deposit such stock or other securities under any plan of
reorganization or with any protective committee and to delegate to
such committee discretionary power with relation thereto, to pay a
proportionate part of the expenses of such committee and any
assessments levied under any such plan, to accept and retain new
securities received by the Trustee pursuant to any such plan, to
exercise all conversion, subscription, voting and other rights, of
whatsoever nature pertaining to such property, and to pay any
amount or amounts of money as it may deem advisable in connection
therewith.
I. To borrow money and to encumber, mortgage or pledge any
asset of the Trust Estate for a term within or extending beyond the
term of the trust, in connection with the exercise of any power
vested in the Trustee.
J. To enter for any purpose into a lease as lessor or lessee
with or without option to purchase or renew for a term within or
extending beyond the term of the trust.
K. To subdivide, develop, or dedicate real property to
public use or to make or obtain the vacation of plats and adjust
boundaries, to adjust differences in valuation on exchange or
partition by giving or receiving consideration, and to dedicate
easements to public use without consideration.
L. To make ordinary or extraordinary repairs or alterations
in buildings or other structures, to demolish any improvements, to
raze existing or erect new partyrwalls or buildings.
~~ ~~
PECAREK 8 HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 7
. •~.y.
M. To continue and operate any business owned by the Settlor
at the Settlor's death and to do any and all things deemed needful
or appropriate by the Trustee, including the power to incorporate
the business and to put additional capital into the business, for
such time as it shall deem advisable, without liability for loss
resulting from the continuance or operation of the business except
for its own negligence; and to close out, liquidate or sell the
business at such time and upon such terms as it shall deem best.
N. To collect, receive, and receipt for rents, issues,
profits, and income of the Trust Estate.
O. To insure the assets of the Trust Estate ag~t ;~=`~
or loss and the Trustee against liability with respect to th;#.i`d
persons.
P. In buying and selling assets, in lending and borrowing
money, and in all other transactions, irrespective of the occupancy
by the same person of dual positions, to deal with itself in its
separate, or any fiduciary capacity.
Q. To compromise, adjust, arbitrate, sue on or defend,
abandon, or otherwise deal with and settle claims in favor of or
against the Trust Estate as the Trustee shall deem best.
R. To employ and compensate agents,~accountants, investment
advisers, brokers, attorneys-in-fact, attorneys-at-law, tax
specialists, realtors, and other assistants and advisors deemed by
the Trustee needful for the proper administration of the Trust
Estate, and to do so without liability for any neglect, omission,
misconduct, or default of any such agent or professional
representative provided such person was selected and retained with
reasonable care.
S. To determine what shall be fairly and equitably charged
or credited to income and what to principal.
T. To hold and retain the principal of the Trust Estate
undivided until actual division shall become necessary in order to
make distributions; to hold, manage, invest, and account for the
several shares or parts thereof by appropriate entries on the
Trustee's books of account; and to allocate to each share or part
of share its proportionate part of all receipts and expenses;
provided, however, the carrying of several trusts as one shall not
defer the vesting in title or in p~session of any share or part of
share thereof.
U. To make payment in cash or in kind, or partly in cash and_~
partly in kind upon any division or distribution of the trust
Estate (includinct the satisfaction of any pecuniary distribution)
•~-C~-
PECAREK & HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 8
without regard to the income tax basis of any specific property
allocated to any beneficiary and to value and appraise any asset
and to distribute such asset in kind at its appraised value; and
when dividing fractional interests in property among several
beneficiaries to allocate entire interests in some property to one
beneficiary and entire interests in other property to another
beneficiary or beneficiaries .
V. In general, to exercise all powers in the management of
the Trust Estate which any individual could exercise in his or her
own right, upon such terms and conditions as it may reasonably deem
best, and to do all acts which it may deem reasonably necessary or
proper to carry out the purposes of this Trust Agree~pn~~ ' ~~: ~ ~° V r,
~~: .z, a .. ` ;,~.
W. To purchase property, real or personal, from the
Settlor's general estate upon such terms and conditions as to price
and terms of payment as the Settlor's personal representatives and
the Trustee shall agree, to hold the property so purchased as a
part of the Trust Estate although it may not qualify as an
authorized trust investment except for this provision, and to
dispose of such property as and when the Trustee shall deem
advisable. The fact that the Settlor's personal representatives
and the Trustee are the same shall in no way affect the validity of
this provision.
X. To lend funds to the Settlor's general estate upon such
terms and conditions as to interest rates, maturities, and security
as the Settlor's personal representatives and the Trustee shall
agree, the fact that they may be the same in no way affecting the
validity of this provision.
Y. To receive property bequeathed, devised or donated to the
Trustee by the Settlor or any other person; to receive the proceeds
of any insurance policy which names the Trustee as beneficiary; to
execute all necessary receipts and releases to Personal
Representatives, donors, insurance companies and other parties
adding property to the Trust Estate.
Z. To combine assets of two or more trusts if the prbvsioris
and terms of each trust are substantially identical, and to
administer them as a single trust, if the Trustee reasonably
determines that the administration as a single trust is consistent
with the Settlor's intent, and facilitates the trust's
administration without defeating or impairing the interests of the
beneficiaries.
AA. To divide any trust into separate shares or separate
trusts or to create separate trusts if the Trustee reasonably deems
it appropriate and the division or creation is consistent with the
Settlor's intent, and facilitates the trust's administration
without defeating or impairing thee-interests of the beneficiaries..
wy =~ C
PECAREK & HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 9
. Y.:
:, ,,, _.
~.~~_'
AB. To divide property in any trust being held hereunder with
an inclusion ratio, as defined in section 2642(a)(1} of the
Internal Revenue Code of 1986, as from time to time amended or
under similar future legislation, of neither one nor zero into two
separate trusts representing two fractional shares of the property
being divided, one to have an inclusion ratio of one and the other
to have an inclusion ratio of zero, to create trusts to receive
property with an inclusion ratio of either one or zero and if this
cannot be done to refuse to accept property which does not have a
matching inclusion ratio to the receiving trust's ratio, all as the
Trustee in its sole discretion deems best.
AC. If the Trustee shall act as the Personal SFr-~
of the Settlor's estate, to elect to; alioae ~,any~ ~;~ ~~
the Settlor's generation-skipping transfer exemption provided-for
in Code section 2631 or under similar future legislation, in effect
at the time of the Settlor's death, to any portion or all of any
other trusts or bequests in the Settlor's Will or any other
transfer which the Settlor is the transferror for purposes of the
generation-skipping tax. Generally, the Settlor anticipates that
the Settlor's Personal Representative will elect to allocate this
exemption first to direct skips as defined in Code section 2612,
then in such other manner as the Trustee deems appropriate, unless
it would be inadvisable based on all the circumstances at the time
of making the allocation; and to make the special election under
section 2652(a}(3) of the Code to the extent the Settlor's Personal
Representative deems in the best interest of the Settlor's estate.
ARTICLE %.
Trustee's Discretion in Makinq Payments to a Person IInder Aqe
Twenty-one, Incompetent, or Incapacitated Person. In case the
income or principal payment under any trust created hereunder or
any share thereof shall become payable to a person under the age of
Twenty-one (21), or to a person under legal disability, or to a
person not adjudicated incompetent, but who, by reason of illness
or mental or physical disability, is, in the opinion of the Trustee
unable properly to administer such amounts, then such amounta~~.~:
be paid out by the Trustee in such of the follow ways as t2Y
Trustee deems best: (1) directly to the beneficiary; (2) to the
legally appointed guardian of the beneficiary; (3) to some relative
or friend for the medical care, education, support and maintenance
in reasonable comfort of the beneficiary; (4) by the Trustee using
such amounts directly for the beneficiary's care, support and
education; (5) to a custodian for the beneficiary under the
Uniform Gifts or Transfers to Minors Act.
ARTICLE %I.
r P
Power of Trustee to Resign Duriaq Settlor's Lifetime.. Any
Trustee may resign this trusteeship during the Settlor's lifetime
by giving the Settlor Thirty (30) days notice in writing delivered -
~~' ~ =al ` C'-
PECAREK & HERMAH, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 10
to the Settlor in person or mailed to the Settlor's last known
address, the resignation to become effective as hereinafter
provided. Upon receipt of such notice, the Settlor shall appoint
a successor Trustee. Upon the failure of the Settlor to appoint a
successor Trustee who accepts the trust within Thirty (30) days
from the time notice was delivered in person or mailed to the
Settlor, the Trustee may resign to the court having jurisdiction
over this trust, which court may, if it deems advisable, accept the
resignation and appoint a successor Trustee which shall be an
individual as successor to an individual trustee or a bank or trust
company qualified to do business in the state of the Settlor's
domicile as successor to a corporate trustee. Upon the appointment
of and acceptance by the successor Trustee, the original Trustee
shall pay over, deliver, assign, transfer or convey to such
successor Trustee the Trust Estate and make a full and proper
accounting to the Settlor, whereupon its resignation shall become
effective. The substitute or successor Trustee upon acceptance of
this trust and the Trust Estate shall succeed to and have all the
rights, powers and duties, authority and responsibility conferred
upon the Trustee originally named herein.
ARTICLE %II.
Settlor During Lifetime to Designate Substitute or Successor
Trustee. The Settlor during the Settlor's lifetime may name a
substitute or successor Trustee by delivery to any Trustee herein
a notice naming the successor or substitute Trustee and indicating
an intent to replace the Trustee named. Upon receipt of such
notice the Trustee named shall pay over, deliver, assign, transfer
or convey to such substitute or successor Trustee (which accepts
the appointment as trustee), the Trust Estate and make a full and
proper accounting to the Settlor, whereupon the Trustee named shall
be discharged and have no further responsibility under this Trust
Agreement. Upon the failure of the Trustee to make such conveyance
the Settlor may apply to the court having jurisdiction of this
trust and such court may compel the conveyance by the Trustee. The
substitute or successor Trustee upon acceptance of this trust and
the Trust Estate shall succeed to and possess all the rights,
powers and duties, authority and responsibility conferred upon the
Trustee originally named herein.
ARTICLE XIII.
Definition of Words Relating to the Interni°al Revenue Code. As
used herein, the words "gross estate," "adjusted gross estate,"
"taxable estate," "unified credit," "state death tax credit,"
"maximum marital deduction," "marital deduction," "pass," and any
other word or words which from the context in which it or they are
used refer to the Internal Revenue Code shall have the same meaning
as such words have for the purposes of applying the Internal
Revenue Code to the Settlor's estate. For purposes of this Trust,
Agreement, the Settlor's "available generation-skipping transfer
~ rte;,
PECAREK 8 HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 11
exemption" means the generation-skipping transfer tax exemption
provided in section 2631 of the Internal Revenue Code of 1986, as
amended, in effect at the time of the Settlor's death reduced by
the aggregate of (1) the amount, if any, of the Settlor's exemption
allocated to lifetime transfers of the Settlor by the Settlor or by
operation of law, and (2) the amount, if any, the Settlor has
specifically allocated to other property of the Settlor's gross
estate for federal estate tax purposes. For purposes of this Trust
Agreement if at the time of the Settlor's death the Settlor has
made gifts with an inclusion ratio of greater than zero for which
the gift tax return due date has not expired (including extensions)
and the Settlor has not yet filed a return, it shall be deemed that
the Settlor's generation-skipping transfer exemption has been
allocated to these transfers to the extent necessary {and possible)
to exempt the transfer(s) from generation-skipping transfer tax.
Reference to sections of the Internal Revenue Code and to the
Internal Revenue Code shall refer to the Internal Revenue Code
amended to the date of the Settlor's death.
ARTICLE %IV.
State Law to Govern. This Trust Agreement and the trusts
created hereby shall be construed, regulated and governed by and in
accordance with the laws of the State of Florida.
ARTICLE XV.
Spendthrift Provision. Except as otherwise provided herein,
all payments of principal and income payable, or to become payable,
to the beneficiary of any trust created hereunder shall not be
subject to anticipation, assignment, pledge, sale or transfer in
any manner, nor shall any beneficiary have the power to anticipate
or encumber such interest, nor shall such interest, while in the
possession of the fiduciary hereunder, be liable for, or subject
to, the debts, contracts, obligations, liabilities or torts of any
beneficiary.
Testimonium Clause. IN WI ~,,ES~-S~,WHEREOF, the Settlor/Trustee
has set her hand and seal this - '~,, --- day of `) ' ~ ,
1997.
y ' i
Li i.
Edna S. Chase, Settlor/Trustee
Attestation Clause. The ftoregoing document was signed and
declared by the Settlor/Trustee as her First Amendment and
restatement oiL Trust Agreement, in our presence, ana we, at ner
~~.,~ . ~_
PECAREK 8 HERMAN, CHARTERED LARGO, FLORIDA (813) 584-8161 Page 12
request, and in her presence, and in the presence of each other,
have subscribed our names as witnesses, on the above date.
(~'
TE OF FLORIDA
COUNTY OF PINELLAS
r. r,,
of c ';~ ~.~,~1'~,_,~ '~~ Q ~~ Florida
of ~ /y=-~ G:C=~' Florida
The fo going ' nstrument was acknowledged before me this
~_ day of , 1997, by Edna S. Chase, who
produced her Florida Driver License as identification.
f~l
~ _.
_ N y Public
JOHN H PECAREK
NOTARY PUBLIC STATE OF FLORIDA j
C:UMMI55IUN NO. CC291924
MY COMMISSION EXP JULY 151997
r ~~ -~. .
PECAREK & HERMAN, CHARTERED lARGO~ FLORIDA (813) 584-8761 rayd ~.>
PARID: P6NE16 23 8 0204
CHASE EDNA SWEET ET AL
Parcel
Street/Road
Property Location
Valuation Neighbofiood
GIS PIN
School District
Utilities
Topography
Municipality
Parent Parcel
land Area
Land Use Code
Classification
Parcel ID
Homestead /Farmstead
Approved?
Owner
Name(s)
242 E UNION BLVD
c'~~
2
Page 1 of 2
PAVED/SIDEWALK
242 UNION BLVD
0408
4762-04-9386-1337
BETHLEHEM SCHOOL DIST
ALL PUBLIC
LEVEL
BETHLEHEM CITY
.0468
Single Family, Residential
Residential
P6NE1 B 23 8 0204
CHASE EDNA SWEET ET AL
Mailing Address 242 E UNION BLVD
City,State,Zip Code BETHLEHEM PA 18018
Northampton County
S81eS 1 of 3
Date Recorded 01-MAY-1981
Sale Price $1
Deed Book and Page -
Type LAND 8 BUILDING
Sales History
Date Recorded Type Sale Price Deed Book and Page
06/01!1990 LAND & BUILDING $77,000 803 - 000231
05/01/1989 LAND 8 BUILDING $39,900 -
05/01/1981 LAND 8 BUILDING $1 _
Building
Buikling Style 1/2 DOUBLE
Year Built 1900
Square Feet of Living Area 1305
Finished Basement 0
Exterior Wall Material ALUMINUMNINYL SIDING
Basement FULL
Total Rms/BedmtslBaths/Half Bath s 5/3/1/0
Card 1
Number of Fireplaces (Masonry) 0
Central Heat/Air Cond CENTRAL
Heating Fuel Type GAS
Physical Condition AV
Parcel Dwelling Units 1
Condo Level
Condolfownhouse Type
Heating System Type WARM AIR
Grade C
Number of Fireplaces (Prefab) 0
Values
Current Land
Current Building
Current Total
Exemption/Exclusion Type
Assessment
-~
-- No Data --
3~~ x3~~~
~~~~ ~3~
1
$24,700 rr __ p
$65,900 ~~ `~G~ ~ ~ I
$33,000
~~ . i~
:~: ~
4~ .,
~.~ -^-
'i
DEED ~' '~
~/~~ ;.
,~ ;
THIS INDENTURE, Made the C~"ilay of June in the year of our Lord
one thousand nine hundred and ninety (1990).
BETWEEN DAVID B. SMITH and JUDITH C. SMITH, husband and wife, and
JACK L. SIiITH and PATRICIA SNITH, husband and wife, of the City of
Easton, County of Northampton and Commonwealth of Pennsylvania,
hereinafter called the "GRANTORS^, parties of the first part;
ANO
EDNA SWEET CRASS, married, and VICTORIA J. SWEET, single, of the
City of Bethlehem, County of Northampton and Commonwealth of
Pennsylvania, as tenants in common and not as joint tenants with the
right of survivorship, hereinafter called the "GRANTEES^, parties of
the second part: •
WITNFSSETH, That the said parties of the first part, for and in
consideration of the sum of Seventy-seven Thousand and 00/100
(S77,000.00) DOLLARS and other good and lawful consideration, well and
truly paid by the said parties of the second part to the said parties
of the first part, at and before the enseaiing and delivery of these
presents, the receipt whereof is hereby acknowledged, have granted,
~,~ bargained, sold, aliened, enfeoffed, released, conveyed and confirmed
and by these presents do grant, bargain, sell, alien, enfeotf, release,
convey and confino unto the said parties of the second part, their
heirs and assigns.
ALL THAT CERTAIN messuage, tenement and lot or piece of ground
situate on the south side of East Union Street, now known as Union
Boulevard, in the City of Bethlehem, County oP Northampton and
Commonwealth of Pennsylvania, and known as No. 242 East Union
Boulevard, bounded and described as follows, to wit:
BEGINNING at a point on the southern line of East Union Boulevard
two hundred sixty foet (260') West of the intersection of the building
lines of Linden and East Union Boulevard; thence westwardly along East
Union Boulevard twenty feet (20') to a point; thence in a southwardly
direction at right angles to East Union Boulevard one hundred two feet
(102') to a point; thence eestwardly and parallel to Bast Union
Boulevard twenty feet (20') to a point; thence northwardly at right
angles to East Union Boulevard one hundred two feet (102') to a point,
the place of beginning.
CONTAINING in front on said East Union Boulevard twenty feet (20')
and in depth oP equal width ono hundred two feet (102'). The within
described premises being the western half of a double .frame dwelling,
the Eastern boundary line being a partition or party wall dividing
these premises from those on the East and known as No_ 2~4 East Union
Boulevard.
•.• ~~:.-:,,,.:.:~ ,.::. ,•, v~..... REALTY TRANSFER TAX PAID
^ ~•` STATE )'7U
... ic.u:irFa arzrrt~ _: ~~~; i ' ~. tl (!I -= •a.c,. 770 ~
•~ ra:luc:~ ' _ i_ )CIPALITY Cl~ t _
•~~_ 803 "~ _`- 231
IT BEING THE SANE PREMISES which Nark A. Folger and Michael F.
Folger, Attorneys-in-Fact for Clara A. Folger, by Geed dated April 27,
1989 and recorded in the Office of the Recorder of Deeds in and [or the
County of Northawipton at Easton, Pennsylvania in Deed Sook Voluae 768,
Page 245, did grant and convey unto David B. Smith and Jack L. Smith.
The wives of David B. Saith and Jack L. Smith, Judith C. Smith and
Patricia Smith, respectively, join in this conveyance to transfer their
entire right, title and interest, if any there be, in and to the
subject promises.
ALSO KNOWN AS NORTHAMPTON COUNTY UNIFORM PARCEL IDENTIFIER:
MAP P6NElB BLOCK 23 LOT 8 ,~ ry
TOGETHER with all and singular, the buildings, improvements,
woods, ways, rights, liberties, privileges, hereditaments and
appurtenances, to the sane belonging, or in any also appertaining, and
the reversion and reversions; reaainder and remainders, rents, issues,
and profits thereof, and of every part and parcel thereof:
And also. all the estate, right, title, interest, property,
possession, claim and dews»d whatsoever, both in law and equity, of the
said parties of the first part, of, in, and to the said preaises, with
the appurtenances:
TO HAVE AND TO HOLD the said premises, with all and singular the
appurtenances unto the said parties of the second pact, their heirs and
assigns, to the only proper use, benefit and bahoof of the said parties
of the second part, their heirs and assigns forever,
ANO the said parties of the first part, their hairs, executors
and administrators, do by these presents, covenant, grant and agree,
to and with the said parties of the second part, their heirs and
assigns forever, that they the said parties of the first part, their
heirs, all and singular the hereditamenta and preaises herein above
described and granted, or mentioned and intended so to be, with the
appurtenances, unto the said parties oP the second part, their heirs
and assigns, against then the said parties of the first part, their
heirs, and against all and every other person or persons, whossoever
lawfully claiming or to claim the ease or any part thereof, by, from,
or under them, or any of them
SHALL AND WILL SPECIALLY WARRANT and forever DEFEND.
ZN WITNESS WHEREOF, the said parties of the first part to these
presents hereunto set their hands and seals. Dated the day and year
First above written.
r.~_ 803 ~'r' 232
•~./
~icnED, SEALED AND DELIVERED )
IN THE PRBSENCE O S )
Jam'
Gy ~ r ~, ~L
~ , (SEAL)
Dav d B. Smith
''~ ~ ~ ~` (SEAL)
J ck L. with
' (SEAL)
J dith C. Smith
~Q~ie.~-c-(.v ~r~_i~/~ (SEAL)
Patricia Smith
RECEIVED, the day of the date of the above Indenture of the above
named
STATE OF PENNSYLVANIA )
SS:
COUNTY OF NORTHAMPTON )
~L'
On the ~ day of June, 1990, before me, the subscriber, a Notary
Public, in and Por said State and County, the undersigned officer,
personally appeared David H. Smith, Jack L. Smith, Judith C. Smith and
Patricia Snfth, known to me (or satisfactorily proven) to be the
persons whose names are subscribed to the within instrument, and
acknowledged that they executed the same for the purposes therein
contained, and desired the same might be recorded as such.
IN WITNESS WF[EREOF, I hereunto set my hand and official seal.
.+
i .'
Apt @E K
fi.:':, .
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The address of the within-namec2 Grantee tt ~ ~ ,.;,,.. ;~., .•
is ;~._~t 2 ~2>~ V~~ov) ~~v ~~P~~~Yj]Ilr ~~
~l/~~ ~ l~'~l~ I
on behalf the Grant
•~~= 803 '=~= 233