HomeMy WebLinkAbout09-02-09~"~_~ -~~-~~-o5iy
FINAL FAMILY SETTLEMENT AND FINAL RELEASE
IN
ESTATE OF DOLORES M. KELLY
KNOW ALL MEN BY THESE PRESENTS, that WHEREAS, DOLORES M. KELLY,
late of 117 North 34`h Street, Camp Hill, Cumberland County, Pennsylvania, deceased, dieid
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testate on May 4, 2008; ~ _
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WHEREAS, letters testamentary for the estate of the said decedent were dtil~4/y, issued on - -
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May 9, 2008, by the Register of Wills of Cumberland County, Pennsylvania, to KE~I'H A. -.~~
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KELLY, Executor, hereinafter called personal representative, for the Estate of DOLORES ~1.
KELLY, Number 2008-00518;
WHERF,AS, said personal representative has gathered the assets of the Estate of said
decedent in regard to real property known as 117 North 34`'' Street, Camp Hill, Cumberland
County, Pennsylvania;
WHEREAS, said personal representative has gathered the assets of the Estate of said
decedent in regard to personal property, and together with the aforesaid real property, the value
of the Estate was determined to be $279,640.74;
WHEREAS, the heirs, Keith A. Kelly, James M. Kelly, Keith A. Kelly as parental
custodian of granddaughter Ava Elizabeth Kelly, James M. Kelly previously as parental
custodian of granddaughter Carrie Ann Kelly, and Carrie Ann Kelly, an adult individual now
eighteen years of age, agree to allow, authorize or otherwise permit the personal representative to
disburse assets for this Final Family Settlement and Final Release, which follows from prior
disbursements and agreements; namely a Partial Family Settlement Agreement and Final Release
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dated for June 17, 2008, and a Second Partial Family Settlement Agreement and Final Release
dated for August 27, 2008;
WHEREAS, the debts and taxes of the Estate have been paid and an Inheritance Tax
Return was filed by Bill Wire, CPA, on or about January 29, 2009;
It is hereby stipulated that the heirs agree to disburse assets as set forth below.
NOW THEREFORE, KNOW YE, that we, Keith A. Kelly, James M. Kelly, Keith A.
Kelly as parental custodian of granddaughter Ava Elizabeth Kelly, and Carrie Ann Kelly, the
named heirs of the Estate of DOLORES M. KELLY, and being those persons entitled to inherit
under the Will of DOLORES M. KELLY, do hereby, each of us, acknowledge that we authorize
the personal representative to disburse the personal property assets of this Estate.
AND, each of us do hereby stipulate that in order to avoid the expense and time involved
in the filing of a formal account and schedule of distribution, we each agree that no account is
necessary and we do hereby agree that we consent to distribution being made by a family
settlement agreement without the filing of an account and schedule of distribution, the same to be
with the same force and ei:fect as if they had been filed and confirmed by the Orphans Court
Division of the Court of Common Pleas, Cumberland County Branch.
AND, we stipulate further the following:
1. That the expenses of administering the estate have been paid in the amount of
$7,500.00 for the attorney for the Estate, while the Executor has agreed to receive no
compensation.
2. That each granddaughter, Ava Elizabeth Kelly and Carne Ann Kelly, through
her respective parental custodian, has received an advance sum of $50,000.00 with a 4.5% tax
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return of $2,250.00 for a net amount of $47,750.00, distributed previously pursuant to the Partial
Family Settlement and Final Release, which is incorporated herein by reference.
3. That additional expenses of concluding the estate are still outstanding,
including but not limited to, the fee for filing this document and filing final income tax returns,
as may be needed, for the year 2009 to the federal government and the state government; and
recognizing that the Inheritance Tax due in Pennsylvania has been paid, and a return filed by Bill
Wire, CPA, on or about January 29, 2009.
4. That $12,000.00 was paid to the Commonwealth of Pennsylvania from the
Estate of Dolores Kelly on or about July 23, 2008, and that such payment was made within the
discount period for payment of inheritance tax and applied to same.
5. That each granddaughter, Ava Elizabeth Kelly and Carne Ann Kelly, through
her respective parental custodian, has received a second advanced sum of $97,034.93, distributed
to each pursuant to the Second Partial Family Settlement and Final Release, which is
incorporated herein by reference.
6. That mast of the assets of the estate have been distributed previously, and that
a small amount of money (some $6,700.00) in the form of liquid assets shall now be distributed
as follows.
First, the assets at issue are as follows: $2,216.30 from an ING
account; $2,111.49 as a refund or credit from the Pennsylvania Department of Revenue for
Inheritance Tax in this matter; $314.88 from check number 442216 in the joint account; and
some $2,096.10 remaining in a Member's First Federal credit union account (number 334507).
Thus, the total amount comes to $6,738.77.
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ii. Second, Keith A. Kelly and James M. Kelly expressly state that
they are aware of the possible outstanding expenses (see paragraph 3, supra) and that they agree
to pay said expenses from. said $6,738.77, or as may otherwise be needed and as discussed infra.
iii. Third, the remainder from said $6,738.77, after expenses, shall be
distributed evenly between Keith A. Kelly and James M. Kelly.
THEREFORE, we and each of us do hereby remise, release, quitclaim and forever
discharge the said personal representatives, their heirs, executors, and administrators and assigns,
of and from the said estate and from all actions, suits, payments, accounts, reckonings, claims
and demands whatsoever for or by reason thereof, or for any other use, matter, cause or thing
whatsoever touching upon the real estate sale described herein and each of us do further hereby
covenant and agree that should any liability come due to the estate of the said decedent after the
signing of this agreement, we and each of us do hereby covenant and agree with each other and
the aforesaid personal representative that we will contribute pro rata our share of the estate to
satisfy any and all claims, demands, suits, or causes of action which may be successfully
prosecuted against the said estate or the aforesaid personal representative after the signing,
sealing and delivery of this partial family settlement agreement and final release.
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IN WITNESS WHEREOF, we have hereunto set our hands and seals this 2 ~ day
of v ~ , 2009.
WITNESS:
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(SEAL)
Keith .Kelly
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Ja s M. Kelly
SEAL
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Keith elly, parental custodian of
Ava Elizabeth Kelly
C~~ l~Y~~-~ (SEAL)
Carrie Ann Kelly
STATE OF
COUNTY OF
SS:
On this, the ~_ day of , 2009, before me, a Notary
Public, the undersigned officer, personally appeared TTH A. KELLY, known to me to be the
person whose name is subscribed to the within instrument, and acknowledged that he executed
the same for the purpose therein contained.
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IN ;~S~d~~1~pF, I have hereunto set my hand and official seal.
~~~`` Qua ~~f ',~:
~.lptary
~ Notary Public
~ ~b11G =U` My Commission Expires: gG~Q,c' L~ ZOI Z
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STATE OF U
C I ,k.,~ SS:
COUNTY OF ~~
On this,
the ~ day of ` , 2009, before me, a Notary
Public, the undersigncd officer, personally appeared JA S M. KELLY, known to me to be the
person whose name is subscribed to the within instrument, and acknowledged that he executed
the same for the purpose therein contained.
IN WITNESS WHEREOF, I have hereunto set my hand and official seal.
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Notary lic
My Commis~EALTH OF PENNSYLVANIA
Notarial Seal
Cindy S. Burrell, Notary Public
Lower Allen'Ii+vp., Cumberland County
Con~mia~iari Expira~ Mar. 2A, 2012
STATE OF ~A'1nS`-~~uC~rkc~
SS:
COUNTY OF C.~-~-+~~~.~ ~- ~` ~
On this, the ~_ day of `~ , 2009, before me, a Notary
Public, the undersigned officer, personally appeared KE H A. KELLY, parental custodian of
AVA ELIZABETH KELLY, known to me to be the person whose name is subscribed to the
within instrument, and acknowledged that he executed the same for the purpose therein
contained.
IN WITNESS WHEREOF, I have hereunto set my hand and official seal.
NOTARIAL SEAL ~ ~ ~~~
CAROLE A ROSE
Notary Public Notary Public
LOWER ALLEN TWP, CUM9ERLAND COUNTY \
r My Commission Expires Dec 6, 201 1 My Commission Expires: ~~ . l~ ~ Z.fJ~ ~
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STATE ~ , +(1,Cl~l:~ 1 v ,~,!(1 l:¢~,
ss:
COUNTY OF C~^^ ~-~ l
On this, the }
~_ day of ~ , 2009, before me, a Notary
Public, the undersigned officer, personally appeared C RRIE ANN KF;LLY, known to me to be
the person whose name is subscribed to the within instrument, and acknowledged that he
executed the same for the purpose therein contained.
IN WITNESS WHEREOF, I have hereunto set my hand and official seal.
~* P10TARlAL SEAL n /,lC,(~
CAROLE A ROSE _~b`-
Notary Public Notary Public
LOWER ALLEN TWP, CUMDERIAND COUNTY ~~'
My Commission Expires Dec b, 20> > My Commission Expires: ~C - (re ~
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