The URL can be used to link to this page

Home My WebLink About10-29-09~'~ -~ ~- C":t ESTATE OF MARY MARGARET FREEMAN - ~ {.I nv, .`i LU A/K/A MARY MARGARET COFFEY FREEMAN , ;~ --; __,~ -1-, File No. 21-08-1247 ~ ~,- !~` `::' _~_. c.~ FAMILY SETTLEMENT AGREEMENT ~ THIS AGREEMENT made this ~ day of 2009 BETWEEN: FRANK COFFEY III, being the legatee under the Last Will and Testament of Mary Margaret Freeman, late of the Borough of Shippensburg, Cumberland County, Pennsylvania, AND FRANK COFFEY III, Executor of the Estate under the Last Will and Testament of Mary Margaret Freeman, deceased, WHEREAS, Mary Margaret Freeman died October 15, 2008, testate, and under her Will left her residuary estate to the party herein; and WHEREAS, Letters Testamentary were granted to Frank Coffey III = n December 12, 2008, by the Register of Wills of Cumberland County, Pennsylvania; and ~~ WHEREAS, all assets of the late Mary Margaret Freeman have been liquidated or distributed and all her debts paid in full, and further the period of four months having been terminated since the first advertisement of the issuance of Letters to the said Executor, the said party hereto desires to waive the duty of the Executor to file a First and Final Account with Proposed Schedule of Distribution for purposes of confirmation by the Court of Common Pleas of Cumberland County, Orphan's Court Division, AND FURTHER desires that a Family -r-7 ~~'? ~...! ~ ~ ..._'C ~ ...,~ -i--~ - ~ ~. ' _ ~ .~~ _,; :.~ -;.~ :-~, .., -,, ~, WEIGLE & ASSOCIATES, P.G. -ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257-1397 Settlement Agreement be executed, which Family Settlement Agreement will be duly recorded among the deed records in and for Cumberland County. NOW, THEREFORE, WITNESSETH, that the party hereto, in consideration of the premises above stated, and of the Accounting and Proposed Schedule of Distribution attached hereto and made a part hereof, and the receipt of his distributive share as therein shown, does bind himself to the said Distribution and Accounting as set forth and further mutually releases Frank Coffey III, Executor, from all claims and demands whatsoever arising out of settlement of the Estate of Mary Margaret Freeman. The party hereto does further agree that should any liability come due to the estate of the said decedent after the signing of this agreement, he does hereby covenant and agree with the aforesaid personal representative that he will contribute pro rata his 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 family settlement agreement and final release. IN WITNESS WHEREOF, the party has hereunto set his hand and seal the day and year first above written. WITNESS: a, ~/ ~ ~~ ~ (SEAL) Frank Coffey III WEIGLE & ASSOCIATES, P.C. -ATTORNEYS AT LAW - i26 EAST KING STREET - SHIPPENSBURG, PA 17257_1397 COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF CUMBERLAND On this, the ~ day of 2009 before me, the undersigned officer, personally appeared FRANK COFFEY III, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. L) COMMONWEALTH pf pENNiYLVANtA NOTAR111i SEAL; Jetty A. Woi01s, Notary PubiiC City of ShippM~~ Cumphy~d County M1- CO~nmis~ipA ExpitNr Q~pyo~ Oy, 201 WEIGLE & ASSOCIATES, P.C. -ATTORNEYS AT LAW - i26 EAST KING STREET - SHIPPENSBURG, PA i7Z57-1397 In the Court of Common Pleas of Cumberland Count ,Penns Ivan' Y y la Orphans' Court Division File No. 21-08-1247 Estate of Mary Margaret Freeman, Deceased Borough of Shippensburg, Cumberland County Account Frank Coffey III, Executor Date of Death: 10/15/2008 Date of Incapacity, if any: None Date of Executor's Appointment: 12/12/2008 Date of First Complete Advertisement: 01/06/2009 Accounting for the period: 10/15/2008 to 10/01/2009 Purpose of Account: Frank Coffey III, Executor, offers this Account to acquaint interested parties with the transactions that have occurred during the Administration. tt is important that the Account be carefully examined. Requests for additional information or questions or objections can be discussed with: Jerry A. Weigle Esquire Weigle & Associates, P.C. 126 East King Street Shippensburg, PA 17257 717/532-7388 Supreme Court I.D. No. 01624 SUMMARY OF ACCOUNT Estate of Mary Margaret Freeman, Deceased For the period of October 15, 2008 through October 1, 2009 Proposed Distributions to Beneficiaries PRINCIPAL Receipts: This Account Net Gain (or Loss) on Sales or Other Dispositions Less Disbursements: Debts of Decedent Funeral Expenses Administration Expenses Federal, State & Local Taxes Commissions Fees Family Exemption Balance Before Distributions Transfer to (from) Principal Distributions to Beneficiaries Principal Balance on Hand For Information: Investments Made Changes in Holdings INCOME Receipts This Account Net Gain (or Loss) on Sales or Other Dispositions Less Disbursements Balance Before Distributions Transfer to (from) Income Distributions to Beneficiaries Income Balance on Hand For Information: Investments Made Changes in Holdings COMBINED BALANCE ON HAND Signature Verification Fiduciary P_ Current Acquisition Value Value 11 23,459.12 23,459.12 3-4 72,655.68 0.00 72,655.68 5 478.71 5 11,900.00 5 640.25 6 3,600.00 0.00 6 2,500.00 0.00 19,118.96 53,536.72 0.00 7 - 8 30,077.60 9 23,459.12 10 12 13 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 23,459.12 -2- SCHEDULE A RECEIPTS OF PRINCIPAL Assets Listed in Inventory (Valued as of Date of Death) Fiduciary Acquisition Value Cash Orrstown Bank Certificate of Deposit #4000029002 Accrued interest on above item through date of death Orrstown Bank Checking Account #103001885 Accrued interest on above item through date of death Total Cash Personal Property Homes & Edwards Silver-Plate Flatware Lady's Diamond Dinner Ring Spode Dinnerware Total Personal Property Stocks /Listed 1,060.0000 shares XCEL Energy, Inc. Total Stocks /Listed Mortgage /Note Receivable David Coffey Receivable Total Mortgage /Note Receivable Total Receipts Subsequent Principal Receipts 11,900.00 20.20 36,425.34 0.30 50.00 350.00 200.00 48,345.84 600.00 17,977.60 17,977.60 2,200.00 09/30/2009 Commonwealth of Pennsylvania -refund of PA Inheritance Tax 12/12/2008 Forest Park Health Center -refund 3,521.50 Total Subsequent Principal Receipts Total Adjustments and Subsequent Receipts 10.74 2,200.00 69,123.44 3,532.24 3,532.24 -3- SCHEDULE A RECEIPTS OF PRINCIPAL Continued Fiduciary Acquisition Value Total Receipts of Principal 72,sss.ss -4- SCHEDULE C DISBURSEMENTS OF PRINCIPAL Debts of Decedent 12/12/2008 EMA Transportation 12/12/2008 Guardian Long Term Care Pharmacy Total Debts of Decedent Funeral Expenses 12/12/2008 Fogelsanger-Bricker Funeral Home Total Funeral Expenses Administration Expenses 12/12/2008 Mary A. Roell, C.A.P.P. -appraisal fee 12/12/2008 Mummas Jewelry -appraisal fee 12/12/2008 Register of Wills, Cumberland County -Letters Testamentary and Short Certificates 03/06/2009 Cumberland Law Journal -advertising Letters Testamentary 03/06/2009 News Chronicle -advertising Letters Testamentary 03/16/2009 Linda K. Klein -notary fee 03/16/2009 Register of Wills, Cumberland County -filing PA Inheritance Tax Return 03/16/2009 Register of Wills, Cumberland County -filing Family Settlement Agreement 03/16/2009 Weigle & Associates, P.C. -reimbursement for postage, xerox copies, and long distance telephone calls Total Miscellaneous Administrative Expenses 455.10 23.61 11,900.00 80.00 50.00 169.00 75.00 121.25 20.00 15.00 75.00 35.00 478.71 11,900.00 640.25 -5- SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued Federal, State, and Local Taxes 01 /07/2009 03/16/2009 Register of Wills, Cumberland County - PA 3,600.00 inheritance tax payment at discount Total Taxes 3,600.00 Fees Weigle & Associates, P.C. 2,500.00 Total Fees 2,500.00 TOTAL DISBURSEMENTS OF PRINCIPAL 19,118.96 -6- SCHEDULE D DISTRIBUTIONS OF PRINCIPAL Adam Bickford 12/18/2008 Cash -Specific Bequest 1,000.00 1,000.00 Anna Gettel 12/18/2008 Cash -Specific Bequest 4,000.00 4,000.00 David Bickford 12/18/2008 Cash -Specific Bequest 1,000.00 1,000.00 Frank Coffev III 02/18/2009 1,060.0000 shares XCEL Energy, Inc. - In Kind James W and Sandra W. Freeman 12/18/2008 Homes & Edwards Silver-Plate Flatware - Specific Bequest 17,977.60 17,977.60 50.00 50.00 Janette Bickford 12/18/2008 Cash -Specific Bequest 1,000.00 1,000.00 -7- SCHEDULE D DISTRIBUTIONS OF PRINCIPAL Continued Karen Bickford 12/18/2008 Cash -Specific Bequest 2,000.00 2,000.00 Kathleen Coffey 12/18/2008 12/18/2008 Lady's Diamond Dinner Ring -Specific Bequest Spode Dinnerware -Specific Bequest 350.00 200.00 550.00 Verl Grim 12/18/2008 Cash -Specific Bequest 2,500.00 2,500.00 TOTAL DISTRIBUTIONS TO BENEFICIARIES 30,077.60 -8- PRINCIPAL BALANCE ON HAND # Units Description Cash Estate Funds Current Value 10/01 /2009 or as Noted Fiduciary Acquisition Value As= David Coffey Receivable 21,259.12 21,259.12 Total Cash 21,259.12 21,259.12 2,200.00 2,200.00 Total Assets 2,200.00 2,200.00 23,459.12 23,459.12 -9- SCHEDULE F CHANGES IN PRINCIPAL HOLDINGS # Units Cost David Coffey Receivable 10/15/2008 inventoried 2,200.00 2,200.00 Homes & Edwards Silver-Plate Flatware 10/15/2008 inventoried 12/18/2008 distributed 50.00 -50.00 0.00 Ladv's Diamond Dinner Rina 10/15/2008 inventoried 12/18/2008 distributed 350.00 -350.00 0.00 Spode Dinnerware 10/15/2008 inventoried 12/18/2008 distributed 200.00 -200.00 0.00 XCEL Eneray, Inc. 10/15/2008 1,060.0000 inventoried 02/18/2009 -1,060.0000 distributed 17,977.60 0.0000 -17,977.60 0.00 Total 2,200.00 -10- COMBINED BALANCE ON HAND # Units Description Gash Estate Funds Current Value 10/01 /2009 or as Noted Fiduciary Acquisition Value As= David Coffey Receivable 21,259.12 21,259.12 Total Cash 21,259.12 21,259.12 2,200.00 2,200.00 Total Assets 2,200.00 2,200.00 23,459.12 23,459.12 PROPOSED DISTRIBUTIONS TO BENEFICIARIES TO: Frank Coffey III David Coffey Receivable Residuary -CASH Current Value Fiduciary 10/01/2009 Acquisition or as noted Value 2,200.00 2,200.00 21,259.12 21,259.12 23,459.12 23,459.12 Total 23,459.12 23,459.12 -11 - In the Court of Common Pleas of Cumberland Count Penns I Y~ y vania Orphans' Court Division File No. 21-08-1247 __ _ ________ Estate of Mary Margaret Freeman, Deceased Signature ~i Frank Coffe III, Exec r -12- In the Court of Common Pleas of Cumberland County, Penns Ivania Y Orphans' Court Division File No. 21-08-1247 Estate of Mary Margaret Freeman, Deceased Verification Frank Coffey III, Executor under the Last Will and Testament of Mary Margaret Freeman, Deceased, hereby declares under oath that he/she has fully and faithfully discharged the duties of his/her office; that the foregoing Account is true and correct and fully discloses all significant transactions occurring during the accounting period; that all known claims against the Estate have been paid in full; that, to his/her knowledge, there are no claims now outstanding against the Estate; that all taxes presently due from the Estate have been paid; and that the grant of Letters Testamentary and the first complete advertisement thereof occurred more than four months before the foregoing Account. This statement is made subject to penalties of 18 Pa. C.S.A. Section 4904 relating to unsworn falsification to authorities. Fra Coffey II, Execu Dated: /~ Q ,- f ~, _. ~ -13-