HomeMy WebLinkAbout01-15-10J 15056051058
REV-1500 EX (06-05) OFFICIAL USE ONLY
PA Department of Revenue
Bureau of Individual Taxes County Code Year File Number
INHERITANCE TAX RETURN ' ~ " ~~~~ _ ~~~~ ~ ~ ~-
HarrislwrgBPA 11712f1-0601 RESIDENT DECEDENT 21 ~ ~ 07 0653 __...
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death Date of Birth
~ 188-12-3854 11/22/2006 ' 01/16/1916
Decedent's Last Name Suffix Decedent's First Name MI
I _z
SULTZBAUGH ~ ~ CAROLINE W
~;
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name
Spouse's Social Security Number
FILL IN APPROPRIATE OPALS BELOW
~ 1. Original Return
Suffix Spouse's First Name MI
i
i y
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
C~ 2. Supplemental Retum C~ 3. Remainder Return (date of death
prior to 12-13-82)
(;~ 4. Limited Estate C3 4a. Future Interest Compromise (date of 5. Federal Estate Tax Retum Required
death after 12-12-82)
CL7 6. Decedent Died Testate Q 7. Decedent Maintained a Living Trust Q_.- 8. Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust)
O 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
~ __ __
'. RUPP, HERBERT G., JR. l
(717) 579-6599
Ftrm Name (If Applicable)
_
_ ~- __. ____. - -
REGISTER 6
IL~S U5E ON
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First line of address :~ °~,. r"- , . ~ _
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4700 -Oakhurst Boulevard
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Second line of address C7 C~ ~ _
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City Or POSt Office
,______~~___~._ . ~_ _ _ .~. _ State ZIP Code
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Cwt _E-~
`: Harrisburg ~ PA ;17110
Correspondent's a-mail address:
Under nafties of perjury, I declare that I have examined this return, including acx:ompanying schedules and statements, and to the best of my knowledge and belief,
k is t correct and complete. Oedaration of preparer other than the personal representative is based on all information of which preparer has any knowledge.
SIG /IRF pF F~RSO S~~I~y518~~~~ILING RETURN f DAT~~ / !n
906 Hummel Avenue, ~.emoyrte, PA 17043
SIGNAT~ PREPARER OTHER THAN REPRESENTATIVE DATE
f\ \ _. -,. ~C,' ~ t~ . L.b. fir. ~ ^' ~ ^~ b
4700 Oakhurst Boulevard, A-111, Harrisburg, PA 17110
PLEASE USE ORIGINAL FORM ONLY
Side 1
15056051058 15056051058
I~ C:\Corel\Office7\WPDOCS\ESTATES\SULTZBAUGHC.WIL:November 13, 1998
Ha~~~ ~'~' 1l~Jle L'111`~l ~1' JL %a~ 1 L'~lab~l~l JL
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I, CAROLINE W. SULTZBAUGH, of Lower Allen Township, Cumberland County,
Pennsylvania, being of sound and disposing mind and memory, do hereby make, publish and declare
this for and as my Last Will and Testament hereby revoking any and all Wills or Codicils by me at
any time heretofore made. I hereby declare that I have two (2) children, L. CARL SULTZBAUGH
and KEITH A. SULTZBAUGH.
ITEM I - I direct my Executor, hereinafter named, to pay all my just and lawful debts
and funeral expenses out of my personal estate as soon after my decease as is convenient.
ITEM II - All the rest, residue and remainder of my Estate, real, personal, and mixed,
I give, devise and bequeath, to my children, L. CARL SULTZBAUGH and KEITH A.
SULTZBAUGH., in equal shazes.
ITEM III - If my son, L. CARL SULTZBAUGH, should predecease me, then I give,
devise and bequeath his shaze of my Estate, real, personal and mixed, to his then surviving issue.
RUPP & MEIKLE 355 NORTH 21st STREET, CAMP HILL, PA 17011
Page 1 of 5
Initial~~
C:\Corel\Office7\WPDOCS\ESTATES\SULTZBAUGHC.WIL:November 13 ,' 1998
ITEM IV - If my son, KEITH A. SULTZBAUGH., should predecease me, then I give,
devise and bequeath his share of my Estate, real, personal and mixed, in accordance with his power
of appointment in his Last Will and Testament. If my son, KEITH A. SULTZBAUGH, dies
intestate, then I give, devise and bequeath his share of my Estate, real, personal and mixed, to his
then surviving issue. If my son, KEITH A. SULTZBAUGH, dies without surviving issue, then I
give, devise and bequeath his share of my Estate, real, personal and mixed in accordance with ITEM
III above.
ITEM V - All federal, state and other death taxes, payable because of my death with
respect to the property forming my gross estate for tax purposes, whether or not passing under this
Will, including any interest or penalty imposed in connection with such tax, shall be considered part
of the expenses of the administration of my estate and shall be paid from my estate without
apportionment or right of reimbursement. All such taxes on present or future interests shall be paid
at such time or times as my Executor may think proper, regazdless of whether such taxes are then
due.
ITEM VI - My Executor, appointed under this will shall have the following powers:
A. To retain any or all assets of my estate, real or personal, without
regard to any principle of diversification, risk, or productivity.
B. To invest in all forms of property, including stocks, common trust
Page 2 of 5
Initials,~~
C:\Corel\Office7\WPDOCS\ESTATES\SULTZBAUGAC.WIL:November 13, 1998
funds and mortgage investment funds, without restriction to
investment authorized for Pennsylvania fiduciaries as they deem
proper, without regard to any principle of diversification, risk, or
productivity.
C. To sell at public or private sale, to exchange or to lease, for any
period of time, any real or personal property and to give options for
sales, exchanges or leases, for such prices and upon such terms and
conditions as they deem proper.
D. To borrow money from any person or institution including my
Executrix and to mortgage or pledge any or all real or personal
property as my Executor in his sole discretion shall choose, without
regard for the dispositive provisions of this instrument.
E. To compromise any claim or controversy.
F. To exercise any option, right or privilege granted in insurance
policies or in other investments.
ITEM VII - I nominate and appoint my sons, L. CARL SULTZBAUGH and KEITH A.
SULTZBAUGH. as the Co-Executors of this, my Last Will and Testament, or the survivor of them.
Page 3 of 5
Initial~,~
C:\Corel\O££ice7\WPDOCS\ESTATES\SULTZBAUGHC.WIL:November 13, 1998
ITEM VIII - No bond or other security shall be required of any fiduciary appointed in this
Will.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this ~ ~ ~ day of
/V D /~~iy, GjQ,,.- , 1998.
(SEAL)
CAROLINE W . S Z GH
WITNESSES:
~,~~-~
~~~~~
-~
residing at
residing at ~ ` r ' ~ ~` ~ ~ ~~
residing at ~l
Page 4 of 5
Initials.[~f,~
C:\Corel\Office7\WPDOCS\ESTATES\SULTZBAUGHC.WIL:November 13, 1998
COMMONWEALTH OF PENNSYLVANIA
SS.
COUNTY OF Cox t -ri b er' ~ c~~ ~ ,
WE, CAROLINE W. SULTZBAUGH, L - C.c~~" 1 ~~;~.t fiz_k:_Y~+~_~ ~~+ I ~ ,
{~- C: I -~ 11 /-~ . ~ ~ ~ 1 ~ ~ 13C'et ,~ r~ - ~ ,and 1 ~ ~ C i~~k +~ r ~ C_ ~ 1 c ~ r ~- ~ ,the
~.
TESTATRIX and WITNESSES have signed to the attached or foregoing instrument, being first duly
sworn, do hereby declare to the undersigned authority that the Testatrix signed and executed the
instrument as her Last Will and Testament 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, signed the
Will as witness and to the best of his or her knowledge the Testatrix was at that time eighteen (18)
years of age or older, of sound mind, and under no constraint or undue influence.
CAROLINE W. SULTZ UG estatrix
Subscribed, sworn to, and acknowledged before me by Catherine D. Nye, the Testatrix, and
subscribed and sworn to before me by L . C:car 1 3c~.1 t-Z.txrc,icc)`~. ~i~r~-'r1 /1 • ~~Li~tZkX'+~~-~
and Ri chccr'CI C • w~,u.,~~, witnesses, this - 3 day of 1~1c-.~t~~-Y--,_~,c~ t ,198.
Notary Public
NOTARIAL SEAL
BARBARA J. KOCHER, Notary Public •.:
Camp Hill Boro, Cumberland County
M Commission Expires Oct. 22, 2001
age 5 of 5
Initials~~
WITNESSES:
J 15056052059
REV 1500 EX
Decedent's Name: CAROLINE W SULTZBAUGH
Decedent's Social Security Number
188-12-3854
1. Real estate (Schedule A) ............................................. 1.
2. Stocks and Bonds (Schedule B) ....................................... 2.I
i°---
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ..... 3.
i--
4. Mortgages & Notes Receivable (Schedule D) ............................. 4.
~.._.
5. Gash, Bank Deposits ~ Miscellaneous Personal Property (Schedule E) ........ 5.
6. Jointly Owned Property (Schedule F) C~ Separate Billing Requested ....... 6.
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G) C w'3 Separate Billing Requested........ 7.
__.
8. Total Gross Assets (total Lines 1-7) .................................... 8.
850,000.00
0.00
871,043.00
9.
Funeral Expenses & Administrative Grots (Schedule H) ............. i
........ 9. ~
10,371.00
10. Debts of Decedent, Mortgage Liabilkies, & Liens (Schedule I) ........ ........ 10. ~
_,
~~._~. 154,477.00
m__._~_._,,_.~e
11. Total Deductions (total Lines 9 & 10) ........................... ~
........ 11. j 164,848.00
12. Net Value of Estate (Line 8 minus Line 11) ...................... ........ 12. ~ 706,195.00
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which °~-- ~ . .. _ ~~. _~....... _~...~,-.
an election to tax has not been made (Schedule J) ............... ......... 13. `i
14. Net Value Subject to Tax (Line 12 minus Line 13) ................ ........ 14.
TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
___
__.___
-
transfers under Sec. 9116 _ -i _
I
-_ _ _ _ _
- -. ~ - .----- ..-
(a)(1.2) X .0_ ~ 15. ~ ~
16. Amount of Line 14 taxable °~," °, '. _ ~ , ._ _....., ..~ .~.,n.~ ~ ~ . ~,.,
~.._
-_ .-. -..~ , m ~.w~.. m .~ .-_ -,.w~ .oe ..~,~.,~
at lineal rate X .0 45 706,195 00 }
~~~~ ~~~~~-~~~~~~~~~~~~ ~-"~~~~ _ 16. ~ 31,779 00 j
~~~~~ ~~~~~-~~~~~~~~ ~~~~~
17. Amount of Line l4 taxable
at sibling rate X .12 ~
s
,
.
...
~. 17. I
.._.._ _ -
..~.~.. ~..., ~ _e~
, ~m ~
~.
~a
18. Amount of Line 14 taxable 3
3
at collateral rate X .15 a
_._ _ _ ~. _ 18. I
3~ _ _ ~__~ _ _..n _
19. TAX DUE ........................... .............. ............
31,779.00
.. 19.;
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT t~
15056052059 Side 2
15056052059
REV-1500 EX Page 3
Decedent's Complete Address:
_ Fii~ Ny~ber____.,.~.._._rt_w._~.
21 ~ ~ 07 ~ 0653
DECEDENTS NAME DECEDENTS SOCIAL SECURITY NUMBER
CAROLINE W SULTZBAUGH 188-12-3854
STREET ADDRESS
2749 Lisburn Road
CITY
Camp Hill STATE
PA ZIP
17011
Tax Payments and Credits:
1. Tax Due (Page 2 Line 19)
2. CreditslPayments
A. Spousal Poverty Credit _
B. Prior Payments _
C. Discount
Total Credits (A+ B + C) (2)
3. InteresUPenalty if applicable
D. Interest
E.Penafty
Total Interesf/Penalty (D + E) (3)
4. 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. (4)
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5)
A. Enter the interest on the tax due. (5A)
B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (5B)
(1)
Make Check Payable to: 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 : ............................................ ^
c. retain a reversionary interest; or .......................................................................................................................... ^
d. receive the promise for fife of either payments, benefits or care? ...................................................................... ^
2. If 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 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 (O) 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) percent [72 P.S. §9116(a)(1.3)]. Asibling is defined, under
Section 9102, as an individual who has at least one parent in common with the decedenl, whether by blood or adoption.
REV-1502 EX+ (11-08)
pennsylvania
L17 DEPARTMENT OF REVENUE
INHERIfANGE TAX RETURN
RESIDENT DECEDENT
SCHEDULE A
REAL ESTATE
ESTATE OF FILE NUMBER
SULTZBAUGH, CAROLINE W. 21-07-0653
All real property owned solely 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 that is jointly-owned with right of survivorship must be disclosed on Schedule F.
Attach a copy of the settlement sheet if the property has been sold.
ITEM Include a copy of the deed showing decedent's interest if owned as tenant in common. VALUE AT DATE
NUMBER OF DEATN
DESCRIPTIQN
1. 2720 Lisburn Road, Lower Allen Township w/House, Barn and Outbuildings, l5+/- acres 600,000.00
First 3 pages of Appraisal by George C. Clauser, SRA, attached
Tax Map No. 13-10-0258-007
2. 2749 Lisburn Road, Lower Allen Township w/ Dwelling House 250,000.00 :'
First 5 pages of Appraisal by Dennis L. Stover, CRA, attached
TOTAL (Also enter on Line 1, Recapitulation.) ~ 850,000.00
If more space is needed, insert additional sheets of the same size.
APPRAISAL REPORT
FOR
KEITH A. SULTZBAUGH
806 BRIARWOOD LANE
CAMP HILL, PA 17011
HOUSE, BARN & OUTBUILDINGS ON 15f ACRES
LOCATED
2720 LISBURN ROAD
LOWER ALLEN TOWNSHIP
CAMP HILL, CUMBERLAND COUNTY, PA
Prepared by
George C. Clauser, SRA
2720 Lisburn Road
7-1009 C-1
CLAUSER REAL ESTATE APPRAISALS
CLAUSER REAL ESTATE APPRAISALS
P O Box 777
Camp Hill, PA 17401-0777
Telephone: 717-737-7300
FAX: 717-730-0922
e-ma0: CLAUSER~ii;PAONLINE.COM
July 22, 2008
Keith A. Sultzbaugh
806 Briarwood Lane
Camp Hill, PA 17011
RE: Estate of Caroline W. Sultzbaugh
House, Barn & Outbuildings on 15f Acres
2720 Lisburn Road
Lower Allen Township
Camp Hill, PA 17011
Dear Keith:
As requested, I have completed my inspection and subsequent market subdivided studies on the
above referenced property for the purpose of estimating its market value as of November 22, 2006. The
only intended client is Keith A. Sultzbaugh. To my knowledge no financial institution is involved.
The property being valued is located on the north side of Lisburn Road at its intersection with St.
Johns Road and numbered 2720 Lisburn Road, Lower Allen Township, Cumberland County, PA.
Improvements consist of a farmhouse, barn and outbuildings on approximately 15~ acres of land. The
subject site is zoned R-1P, Planned Single Family Residential according t:o Lower Allen Township.
The site is located in Zone C of HUD identified flood hazard area and does not require flood
insurance. To my knowledge no underground fuel storage tanks are on site and the appraised value
assumes the property is clear of hazardous materials with DEP Phase I certification recommended. The
appraised value is based on clear certifications for any testing conducted. Appraised value assumes
compliance with all Township, State and Federal regulations and requirements.
Based on my studies and subject to the limiting conditions found in and, attached to this report,
the property in my opinion has an estimated market value as of November 22, 2006 of
SIX HUNDRED THOUSAND ($600,000) DOLLARS
2720 Lisbutn Road 1 7-]009 C-1
Page 2
Details of my methods of valuation as well as a description of the improvements are contained in
the ensuing Complete Appraisal Report in Summary Report Format. This report is believed to be
consistent with recommended guidelines of the Appraisal Standards Board of the Appraisal Foundation.
I have completed numerous appraisals of a similar nature on similar type properties and comply with the
competency provisions of USPAP. This letter of transmittal is considered part of the appraisal which
follows and is not to be detached.
Employment in and compensation for making this appraisal are in no manner contingent upon the
value reported, and I certify that I have no financial interest in the property appraised, present or
contemplated, and that the appraisal assignment was not based on a requested minimum valuation, a
specified valuation, or the approval of a loan. The appraiser has personally inspected the property.
The Appraisal Institute conducts a voluntary program of continuing education for its designated
members. SRAs who meet the minimum standards of this program are awarded periodic educational
certification. I am currently certified under the SRA program.
V truly yours,
~,
George C. user, SRA
PA State Certified General Real Estate Appraiser
Certification No: GA-000233-L
GCC/jf
Enclosures
As Stated
COMMERCIAL ' INDUSTRIAL 'APARTMENT COMPLEXES 'SUBDIVISION ANALYSES 'RESIDENTIAL
2720 Lisburn Road 2 7-1009 C-1
Pa a #1
APPRAISAL OF REAL PROPERTY
LOCATED AT:
2749 Lisburn Rd
0015T-00175; 0021 E-01092
Camp Hill, PA 17011-8009
FOR:
The Estate of Caroline W. Sultzbaugh
Keith Sultzbaugh, Executor
806 Briarwood Lane, Camp Hill, PA 17011
AS OF:
11-22-06
BY:
Dennis L. Stover
PA Certified Residential Reat Estate Appraiser
Certification Number RL 138906
Clauser Real Estate Appraisals
PO Box 777
Camp Hill, PA 17001-0777
Form GA1- "WinTOTAL" appraisal software by a is mode, inc. -1-800-ALAMODE
Pa a #2
..-
The Estate of Caroline W. Sultzbaugh
806 Briarwood Lane
Camp Hill, PA 17011
Re: Property: 2749 Lisburn Rd
Camp Nill, PA 17011-8009
Client: The Estate of Carolyn Sultzbaugh
Fife No.: 7-1009 R-2
In accordance with your request, we have appraised the above referenced property. The report of that appraisal is
attached.
The purpose of this appraisal is to estimate the market value of the property described in this appraisal report, as
improved, in unencumbered fee simple title of ownership.
This report is based on a physical analysis of the site and improvements, a locational analysis of the neighborhood and
city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the
report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice.
The value conclusions reported are as of the effective date stated in the body of the report and contingent upon the
certification and limiting conditions attached.
It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff if we can be of additional
service to you.
Sincerely,
~~
Dennis L. Stover
PA State Certified Residential Real Estate Appraiser
Certification Number RL 138906
Borrower(Client The Estate of Cara! n Suttzbau h ___ _ Flle No. 7-1009 R-2
Prope Address 2749 Lisburn Rd
City Camp Hill County Cumberland State PA Zi Code 17011-8009
_
Lender The Estate of Caroline W. Sultzbau h
TABLE OF CONTENTS
Cover Page
Letter of Transmittal .......................................................................................................................................................................................................... 2
Summary of Salient Features .............................................................................................................................................................................................. 3
USPAP Identification ......................................................................................................................................................................................................... 4
General Purpose Residential ............................................................................................................................................................................................. 5
Subject Photos ................................................................................................................................................................................................................... 8
Subject Photos Irrterior ....................................................................................................................................................................................................... 9
Subject Photos Interior ....................................................................................................................................................................................................... 10
Subject Photos Interiar ....................................................................................................................................................................................................... 11
Subject Photos Interior ....................................................................................................................................................................................................... 12
Subject Photos Interior ....................................................................................................................................................................................................... 13
Building Sketch (Page - il ................................................................................................................................................................................................. 14
Comparable Photos 1-3 ..................................................................................................................................................................................................... 15
Location Map .................................................................................................................................................................................................................... 16
Appraisal Addendum -Special Conditions .......................................................................................................................................................................... 17
Statement of Limiting Conditions ....................................................................................................................................................................................... 18
Electronic Signature Compliance ........................................................................................................................................................................................ 20
Certificate .......................................................................................................................................................................................................................... 21
Form TOCNP - °WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
Pa a #3
SUMMARY OF SALIENT FEATURES
Subject Address 2749 Lisburn Rd
Legal Description 0015T-00175; 0021 E-01092
City Camp Hill
County Cumberland
State PA
Zip Code 17011-8009
Census Tract 42041-0111.00-9
Map Reference 25420
Sale Price $ NA
Date of Sale NA
Borrower/Client The Estate of Carolyn Sultzbaugh
Lender The Estate of Caroline W. Sultzbaugh
Size (Square Feet) 2,280
Price per Square Foot $
Location Suburban
Age 53
Condition Avg
Total Rooms 7
Bedrooms 4
Baths 1.5
Appraiser Dennis L. Stover
Date of Appraised Value 11-22-06
Final Estimate of Value $ 250,000
Form SSD - "WinTOTAL" appraisal software by a la mode, inc. -1-800-ALAMODE
' GEORGE CLAUSER Pa a #4
~,
i3orrawer/Cliertt The Estate of Carolyn Sultzbaugh, Keith Sultzbaugh, Executor __ _ Rle No. 7-1009 R-2
Address
APPRAISAL AND REPORT IDENTIFICATION
State PA Zip Code 17011-8009
This Appraisal Report is °-ffe_ of the following types:
;^ Self Contained (A written report prepared under Standards Rule 2-2(a) , persuant to the Scope of Work, as disclosed elsewhere in this report.)
RI Summary (A written report prepared under Standards Rule 2-2(b) , persuant to the Scope of Work, as disclosed elsewhere in this report.)
~^ ResMcted Use (A written report prepared under Standards Rule 2-2(c) , persuant to the Scope of Work, as disclosed elsewhere in this report,
restricted to the stated intended use by the specified client or intended user.)
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
• The statements of fact contained in this report are true and correct.
• The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional
analyses, opinions, and conclusions.
• I have ne (or the specffied) present or prospective interest in the property that is the subject of this report and no (or the spec'rfied) personal interest with respect to the parties
involved.
• I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
• My engagement in this assignment was not contingent upon developing or reporting predetermined resu{ts.
• My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value ar direction in value that favors the cause
of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.
• My anaiyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Un'rform Standards of Professional Appraisal Practice.
• I have made a personas inspection of the property that is the subject of this report.
• No one provided significant real property appraisal assistance to the person signing this certification. (If there are exceptions, the name of each individual providing significant
real properly appraisal assistance is stated elsewhere in this report.)
Comments on Appraisal and Report Identification
Note any USPAP related issues requiting disclosure and any State mandated requirements:
SCOPE OF WORK
The sco of work for this a sisal is defined b the com lexi of this a sisal asst nment and the re rtin re uirements of this a raisai
form, includin the definition of market value a statement of assum tions and limitin conditions, and certthcations. The a raiser has at a
minimum: 1 rformed a com late visual ins ction of the interior and exterior areas of the sub'ect roe 2 ins cted the net hborhood,
3 ins acted each of the com arable sales from at least the street 4 researched verified and anal ed data from reliable ublic and/or
rivate sources and (5) has reported his analysis opinions and conclusions in this appraisal report
The a raisai is based on the information athered b the a raiser from ublic records other identified sources ins action of the sub'ect
ro and net hborhood, and selection of com arable sales vvi#hin the sub'ect market area. The on final source of the com ambles is
shown in the Data source section of the market rid alon with the source of confirmation if available. The on final source is resented first.
The sources and data are considered reliable. When conflictin information was rovided the source deemed most reliable has been used.
Data believed to be unreliable was not included in the report, nor used as a basis for the valuation conclusion.
APPRAISER:
Signature: ~-
Name: Dennis L. Stover _
Date Signed: April 30, 2008 ____ `_ _
State Certification #: RL 138906
or State license #: __
State: PA _ _
Faq~iration Date of Certdication or License: 6/30/2009
Effective Date of Appraisal: 11-22-06
SUPERVISORY APPRAISER (onq- if required):
Signature:
Name:
Date Signed:
State Certification #:
or State License #: _
State:
Expiration Date of Certification or License:
Supervisory Appraiser inspection of Subject Property:
^ Did Not ^ Exterior-only fmm street ^
Interior and Exterior
Form ID06 - "WinTOTAL" appraisal software by a la mode, inc. -1-S00-ALAMODE
REV-1508 EX+ (6.98)
SCHEDULE E
COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, & MISC.
INHERITANCE TAX RETURN PERSONAL PROPERTY
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
SULTZBAUGH, CAROLINE W. 21-07-0653
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property Jolntly~owned with right of survivorship must be disclosed on Schedule F.
ITEM
NUMBER
DESCRIPTION VALUE AT DATE
OF DEATH
1 Bank Account -Checking
Sovereign Bank No. 2331029377
8,046.02
Statement Attached
2. Personal Property -Auction Sale 4-26-08
Brickel's Auction
Total Sales $14,415.75
Total Expenses $ 2,569.00
Net to Estate $11,846.75
11,846.75
Statement Attached
3. Lawn Mower
400.00
4. Garden Tools
100.00
5. Dishes
100.00
6. Miscellaneous Furniture
450.00
7. .Linens
100.00 ',
TOTAL (Also enter on line 5, Recapitulation) S 21,042.77
(If more space is needed, insert additional sheets of the same s¢e)
Statement Period 11116!06 TO 12N4/06
1-877-SOV-BANK (1-877-768-2265) www.sovereignbank.com GENERATION CHECKING
CAROLINE W SULTZBAUGH
KEITH A SULTZBAUGH
L CARL SULTZBAUGH
Accouni'# 2331029377
Balances
Beginning Balance. $8,046.02 Cunent Balance $2,007.17
Deposits/Credits + $961.15 Average Daily Balance $3,594.49
Withdrawals/Def~ts - $7,000.00
Interest
~
Paid this Period' $ 0.15 Annua{ Percentage Yield Earned 0.05°k
Earned this Period $ 0.15 Paid Last Year $1.11
Paid Year-To-Date $ 2.51
*The interest earned and the interest paid may differ depending on when interest is credited to your account.
Account Activity
Date Description Additions Subtractions Balance
.~ 11-15 Beginning Balance $8,04f.02
11-24 1NTHDRWL '$7,000:00 $1,046.02
12-01 US TREASURY 303 $961.00 $2,007.02
SOC SEC 120106
A SSA
12-14' INTEREST CREDIT $0.15 $2,007.17
e~aiance
$2,007.1
page 3 oJ3 2331029377
„t-••~ -- ,. f
~- - - - - ~ BRICKERS AUCTION
-- Buy A Sell on Commission -Complete Sale Service
~.. 93 Texaco Rd., -Mechanicsburg, PA 1 T055 766-5785
Personal Property of ..~ ~ U ~ TZ ~-~-~; ./.~-(~Sl~
~-da~s - -
~sotd at Put~tlc see ~l~iL ~- zoo $ .
Outstan~8 Totai Sale f /S, ~~
Total-Checks
- Total Cash
Cash Af#er Payotd
- Auctioneer ~ Clerks f ,hf0+ Q D
Adv. Cost ~ ~ ~ r ~
Fee `~ ~ Q
sate setup or Nei 7d U
Totai ce$ ~ ~ o v a
~~"dQ
U3~
~~i~y
. ~s -d ~.
REV-1511 EX+ (t0-04)
~ pennsylvania SCHEDULE H
DEPARTMENT OF REVENUE FUNERAL EXPENSES AND
INHERITANCE TAX RETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
SUL7ZBAUGH, CAROLINE W. 21-07-0653
Decedent's debts must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
I' Dailey Funeral Home 5,321.38
650 S. 28th Street
Harrisburg, A PA 17103
Rolling Green Cemetery Camp Hill, PA 17011 1,100.00
Services (estimated)
Shiremanstown United Methodist Church -Lunch after funeral 200.00
6. ADMINISTRATIVE COSTS:
1. Personal Representative Commissions:
Name(s) of Personal Representative(s) L. Carl Sultzbaugh
Street Address 38 Big Dam Road ~-
City Dillsburg.--- ...............-- -__ -....... State PA._....ZIP...17019..... _.............
Year(s) Commission Paid: RenOUnCed
0.00
2. Attorney Fees:
3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation.)
Claimant Keith A. Sultzbaugh
street address 906 Hummel Avenue
~~ city Lemo~h,~ -- ......- state PA-_ zIP ,17043
Relationship of Claimant to Decedent SOn
4. Probate Fees: C ~Tl M ~q-~ (~ 3,500.00
5. Accountant Fees; 250.00':
6. Tax Retum Preparer Fees: 0.00
7. 0.00
TOTAL (Also enter on Line 9, Recapitulation) ; ~ ~ `,3'~ ~.3
If more space is needed, use additional sheets of paper of the same size.
SCHEDULE H
Funeral Expenses, Etc.
Attachment
Keith A. Sultzbaugh, son, moved into the house of mother, Caroline 11V. Sultzbaugh,
to take care of her approximately 3-1/2 years before her death and lived there and cared
for her continuously until after she died.
REV-1512 EX+ (12-OS)
Pennsylvania
DEPARTMENT OF REVENUE
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES & LIENS
ESTATE OF FILE NUMBER
SULTZBAUGH, CAROLINE W. 21-07-0653
Report debts incurred by the decedent prior to death that remained unpaid at the date of death. including unreimhursed maeli~al nvnenena
.~ mm a space is neeoea, insert aaaaionai sneers of the same size.
Financial Freedom Senior Funding Corporation
FINANCIAL FREEDOM 353 Sacramento Street, Suite 900
A Subsldlarv of IndyMa: Bank, F.5.8. San FranCl8C0, CA 94111
0661M5 0516106 15:11 00201]2 ]00]0007 ]0071106 STMT 1 OZ OOM ]00]210000. 145705 MS
IIIIIIIIIII'I111111 ~'IIIIIIIIIIIIIIII'IIIII'IIIIIIIII'IIIIIIII
Caroline Sultzbaugh
2748 Lisburn Road
CAMP HILL, PA 17011-8009
Customer Service: 800-441-4428
Home Keeper Reverse Mortgage - -
Statement for the Period Ending March 31, 2007
Financial Freedom .Loan Number: 82630
Fannie Mae Number: 6000028054
.FHA Number: N/A
As of May O1, 2(107 the interest rate on your reverse
mortgage will be 8.625%. Your previous rate was 8.625%.
Your new rate is based on an index value of 5.280% which
was published on March 26, 2007 in the Federal Reserve
Statistical Release H15.
For more information on the method of calculating your ne
rate, please see the enclosed material and/or your loan
documents.
Prfnci at)fhtiit Inforniattan Line of CrirdSt I rmation
Original Principal Limit 107,115.00
Growth of Principal Limit .00 Original Line of Credit 8,925.23
Service Fee Set Aside -3,363.23 Growth of Line of Credit 00
Current Total Advance Balance -98,110.15 Line of Credit Principal Balance .
-3
293
03
Repair Set Aside .00 ,
.
Tax Set Aside .00 Current Net Line of Credit 5,632.20
Insurance Set Aside .00 Set Asides .00
Other Set Aside .00 Current Available Line of Credit 5,632.20
Current Net Principal Limit 5,641.62
Rate Information
M1
R
t
I
M
P
a
es
nterest )
ates
Daily Periodic Rate N/A 0.023973%
Monthly Periodic Rate N/A 0.729167%
Corresponding Annual Percentage Rate N/A 8.750%
Historical ANNUAL PERCENTAGE RATE g.gl%
~DetailetCT`~ransacfion Information
Date Description Type Amoant
02/28/07 Previous Outstanding Principal Balance 155,171.75
03/31/07
03/31/07
03/31/07 Monthly Servicing Fee FINANCE CHARGE
Periodic Interest FINANCE CHARGE
Current Outstanding Principal Balance 30.00
1,131.46
158,333.21
IF YOU ARE CURRENTLY PARTICIPATING IN A PROPERTY TAX DEFERRAL PROGRAM, YOU MUST
NOTIFY ONE OF OUR TAX PROPERTY SPECIALISTS IlvIlvIEDIATELY. PLEASE CALL 1-800-441-4428.
See reverse for additional information
THE REVERSE IMPORTANT HOME EQUITY CONVERSION MORTGAGE AND
MORTGAGE SPECIALIST'" HOME KEEPER MORTGAGES'" STATEMENT INFORMATION
FINANCIAL FREEDOM ns~ns~a~aryon~dyMacsa~k,ess
ANNUAL PERCENTAGE RATE: If you have a Home Equity Conversion Mortgage ("HECM"), the Annual Percentage Rate for the interest
portion of your Finance Charge may increase or decrease based upon changes in the Weekly Average Yield on United States Treasury Securities
Adjusted to a Constant Maturity of One Year ("Treasury Securities Index"). Therefore, the monthly and daily periodic rates relating to the interest
portion of your Finance Charge may vary. To determine the Annual Percentage Rate that will apply to the interest portion of your HECM, we add
a margin to the value of the Treasury Securities Index, subject to certain limitations described in your HELM documents. The corresponding Annual
Percentage Rate for the interest portion of the Finance Charge does not include costs other than interest. The Historical Annual Percentage Rate
includes interest and all other finance charges, except those finance charges that relate to the opening of your account (e.g., the origination fee}.
If you have a Home Keeper Mortgage ("Home Keeper"), the Annual Percentage Rate for the interest portion of your Finance Charge may increase
or decrease based upon the changes in the Weekly Average of Secondary Market Interest Rates on 1-Month Negotiable Certificates of Deposit
("Certificates of Deposit Index"). Therefore, the monthly and daily periodic rates relating to the interest portion of your Finance Charge may vary.
To determine the Annual Percentage Rate that will apply to your Home Keeper, we add a margin to the value of the Certificates of Deposit Index
and round the result to the nearest one-eighth of one percentage point (0.125%), subject to certain limitations described in your Home Keeper
documents. The corresponding Annual Percentage Rate for the interest portion of the Finance Charge does not include costs other than interest. The
Historical Annual Percentage Rate includes interest and all other finance charges, except those finance charges that relate to the opening of your
account (e.g., the origination fee).
FINANCE CHARGE: Each advance made to you or on your behalf under your HECM or Home Keeper will be subject to a Finance Charge
beginning on the day after each advance is made. A Finance Charge will continue to be assessed on your loan until the entire outstanding balance
and all fees due under the Note(s), Security Instrument(s) and Loan Agreement are paid.
Interest. The interest portion of the Finance Charge on your HELM or Home Keeper is computed by (i) calculating Finance Charge on the balance
exisiting at the beginning of each month, taking into consideration any payments or credits to your loan during the month, (ii) calculating the Finance
Charge on each advance made to you or on your behalf during the month, and (iii) adding all of these sums together.
We start with the outstanding principal balance on your loan at the beginning of each month, which includes Finance Charges from the prior month
(the "Previous Outstanding Principal Balance"). At the end of each month, we divide the then-current Annual Percentage Rate by 12 (the "Monthly
Periodic Rate") and multiply the result of this calculation by the Previous Outstanding Principal Balance.
If you make a payment or we receive a credit to your loan during the month, we divide the then-current Annual Percentage Rate by 365 (the "Daily
Periodic Rate") and multiply the result of this calculation by the amount of the payment or credit. We multiply the resulting amount by the number
of days remaining in the month after the payment or credit was received (not including the day the payment or credit was received), We then subtract
this amount from the product of the Monthly Periodic Rate and the Previous Outstanding Principal Balance.
At the end of each month in which any advances have been made to you or on your behalf, we multiply the amount of the advance by the number
of days remaining in the month after that advance was made (not including the day the advance was made) and then multiply this amount by the
Daily Periodic Rate. This calculation is repeated for each advance made to you or on your behalf during the month including, but not limited to,
advances made to pay fees or Finance Charges due on your loan.
The sum of the final result of these calculations equals the interest portion of your Finance Charge for the month.
Mortgage insurance premiums ("MIP"). If you have a HECM loan, MIP, which are a Finance Charge, are computed by (i) calculating the MIP
on the Previous Outstanding Principal Balance, taking into consideration any payments or credits to your loan during the month, (ii) calculating the
MIP on each advance to you or on your behalf during the month, and (iii) adding all these sums together.
At the end of the month, we divide 0.5% by 12 (the "MIP Monthly Periodic Rate"} and multiply the result of this calculation by the Previous
Outstanding Principal Balance.
If you make a payment or we receive a credit to your loan during the month, we divide 0.5% by 365 (the "MIP Daily Periodic Rate") and multiply
the result of this calculation by the amount of the payment or credit. We multiply the resulting amount by the number of days remaining in the
month after the payment or credit was received (not including the day the payment or credit was received). We then subtract this amount from the
product of the MIP Monthly Periodic Rate and the Previous Outstanding Principal Balance.
At the end of each month in which any advances have been made to you or on your behalf, we multiply the amount of the advance by the number
of days remaining in the month after that advance was made (not including the day the advance was made) and then multiply this amount by the
MIP Daily Periodic Rate. This calculation is repeated for each advance made to you or on your behalf during the month.
The sum of the final result of these calculations equals the MIP portion of your Finance Charge for the month.
STATEMENT OF BILLING RIGHT
This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.
Notify Us In Case of Errors or Questions About Your Statement.
If you think your statement is wrong, or if you need more information about a transaction on your statement, write us (on a separate sheet) as soon
as possible at:
Financial Freedom
HECM/HKM Servicing Department
353 Sacramento Street, Suite 900
San Francisco, CA 94111
We must hear from you no later than 60 days after we sent you the first statement on which the error or problem appeared. You can telephone us,
but doing so will not preserve your rights.
In your letter, give us the following information:
• Your name and account number,
• The dollar amount of the suspected error.
• Describe the error and explain, if you can, why you believe there is an error. If you need more information, describe the item you are
not sure about.
You do not have to pay any amount in question while we are investigating, but you are still obligated to pay the parts of your statement that are not
in question, While we investigate your questions, we cannot report you as delinquent or take any action to collect the amount in question.
US-000204-PERIODIC
02-1X59-3660(02/05)
REV-1513 EX+ (11-08)
j i~ pennsylvania SCHEDULE ~
L~ DEPARTMENT OF REVENUE
INHERITANCE TAX RETURN BENEFICIARIES
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
CI II T7R~1 IC~H (`ARM INF W 21-07-0653
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(5} RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS [Include outright spousal distributions and transfers under
Sec. 9116 (a) (1.2).]
1. L Carl Sultzbaugh (died on November 22, 2007), Co-Executor Son One-half
Please see attached Explanation
2. Keith A. Sultzbaugh, Co-Executor Son One-half
906 Hummel Avenue, Lemoyne, PA 17043
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUG H 18 OF REV-1500 COVER SHEET, A S APPROPRIATE.
II NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN
1. -None
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1. None
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. $ 0
If more space is needed, insert additional sheets of the same size.
SCHEDULE J
Beneficiaries
Explanation
SULTZBAUGH, CAROLINE W.
The executrix of the Estate of L. Carl Sultzbaugh is Roxie A. Sultzbaugh,
his wife. Because he lived beyond the date of death of Caroline W. Sultzbaugh, but died
before any distribution to him, his estate is entitled to his distribution.
The address of Roxie A. Sultzbaugh is:
38 Big Dam Road
Dillsburg, PA 17019
~~~
~~