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HomeMy WebLinkAbout03-18-10THE LAW OFFICES OF DENNIS J. HOOVER BRUCE D. BROWN LLOYD J. SNOW DANIEL E. SYKES CINDY R. DIAMOND RICHARD A. FROEHLINGER, III' GERGANA IOTINA MATTHEW T. CARTER ASHLEY M.HOOVER www.rose n hooverlaw.com March 16, 2009 Register of Wills for Cumberland County One Courthouse Square Room 102 Carlisle, PA 17013 Re~ Deceased Fredith Nolan (186-28-5112) Estate No. 21-2009-0272 Date of Death 03/01/09 Dear Sir/Madam~ ARVIN E. ROSEN (1948 - 2005) OF COUNSEL DANIEL H. BORINSKY (VA) DONALD J. NEEDLE THEODORE L. CHARNLEY "Admitted in Maryland and DC n _O Q C~ r--- ~ =_71..x1 _..._ _~: ~~ '~ ~ :~_,- ;= :~: ._: ~ J`- -r:, -~ .. L:, .-... x-- I am in receipt of the `Revised Notice' in connection with the above referenced estate. In response to the Revised Notice, I have indicated that the inheritance tax was paid and I have enclosed copies of the following documents ~,I _ i ;~ _ _J -_ , --, ~~ c_~> (1) Letter dated 10/29/2009 to Register of Wills detailing the inheritance tax paid with the Form Rev-1500 Inheritance Tax Return. (2) Check #111 from the Estate of Valeria Nolan in the amount of $1,353.52 representing 4.5% tax due on $30,078.02 for joint property held in the names of Fredith Nolan and Valeria Nolan as described on Schedule F (copy of Schedule F attached). Please note that Valeria Nolan passed away on 6/26/09, several months after the death of Fredith Nolan and (3) Receipt dated 11/2/09 from the Pennsylvania Inheritance and Estate Tax evidencing the payment of $1,353.52. Should you have any questions, please contact me at my office (410) 539-6606. Thank you in advance for your cooperation. V b~i liis~I~6o~er, Executor Estate f Fredith Nolan ROSEN HOOVER P.A. ONE CHARLES CENTER 100 NORTH CHARLES STREET, SUITE 1010 BALTIMORE, MD 21201-3804 Telephone: (410) 539-6606 Facsimile: (410) 332-0269 DJH ~kaf cc~ Bureau of Individual Taxes Enclosures 3141.001 \registerofwi11s.1029.09 October 2b, ?009 Page 2 of 2 Should you have any questions, please contact me at my office (410) 539-6606. Thanl~ you in advance f'or your cooperation. Very ?his J,r°F~'~"ver, Executor to f redith Nolan DJH~I;af Enclosures 3141.001 \registerofivi11s.10.20.09 -- - _ - ESTATE OF VALERIA C NOLAN DENNIS J HOOVER, EXEC ONE CHARLES CENTER 100 NORTH CHARLES ST. SUITE 1010 aoi TiMnRE. MD 21201-3804 /c~\M&T Banlc King 5[ree[ OK~ce Ni eNU~ ~:^3L302955~: D LLAP.S ~•••oeeK~ ~t' LT TM -.mss .~" f /_ ~~ M, -- 9~1.7F,4~ ~ inn is~P 6 3 3 53 5 6822 111 i fr f ' fi 1; I i:/ DATE REV-1509 EX+ (6-98 COMMONWEALTH OF PENNSYLVANIA INHERITANCETAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Fredith Nolan 2120090272 SCNE~U~.E ~ JOINTLY-OWNED PROPERTY C~OG°'~' If 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 ADDRESS RELATIONSHIP TO DECEDENT A. Valeria Nolan 10 Water Street Newburg, PA 17240 Mother C. 101NTLY-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 ASSE" % OF DECD'S INTEREST DATE OF DEATH VALUE OF DECEDENT'S INTERES? ~ A. Orrstown Bank -Certificate of Deposit (Account #4000002242) 000.00 10 50% 5,000.00 .09124103 , 2 A. .02103105 M&T Bank -Certificate of Deposit (Account #31003913373252)' 0.00 50% 0.00 "CD closed 2/5/09 -proceeds of $15,018.39 deposited into joint checking arrnunt #9R~~(1~f19 IiStPri hPhw 3 M&T Bank-Checking Account #98220209 (see attached letter from M&T) 50,156,40 50% 25,078.20 . A 05128!98 Tl1T 111 ini~„ o.,+o. ,,., lino F Roraniti ilatinnl 15 30,078.20 Date Opened: 09/24/03 Term: Tax 24 MONTHS ID; 179-10-3870 Number: 4000002242 certificate of Dep©sit Amount of Deposit: Ten thousand & no/100 This Tune Deposit is Issued to: VALERIA NOLAN FREDITH NOLAN BOX 97 NEWBURG PA 17240-0097 Not Negotiable -Not Transferable - Additiorat terms are belor~ . Account Number: Issuer: g 4000002242 10,000.00 '~ Orrstown Ban;,: 77 East King St Shippensburg, PA 17257 ..... ` ) JP '~ Y~ A GILSON Additional Terms and Disclosures This form contains the terms for your time deposit. It is also the Minimum Balance Requirement: You must make a minimum deposit to Truth-in-Savings disclosure for those depositors entitled to one. There are additional terms and disclosures on page two of this form, some of open this account of $ 2 , 0 0 0 . 0 0 which explain or expand on those below. You should keep one copy of ~ You must maintain this minimum balance on a daily basis to earn the this form. Maturity- Date: This account matures 0 9 / 2 4 / 0 5 annual percentage yield disclosed. (See below for renewal information.) Withdrawals of Interest: Interest ^ accrued ^ credited during a Rate Information: The interest rate for this account is 1 .2000 %a term can be withdrawn: with an annual percentage yield of 1 • 21 %. This rate will be ' paid until the maturity date specified above. Interest begins to accrue on Earl}~ Withdrawal Penalty: If we consent to a request for a withdrawal the business day you deposit any noncash item (for example, a check). that is otherwise not permitted you may have to pay a penalty. The Interest will be compounded penalty will be an amount equal to: Interest will be credited And Paid By Check Every 1 MONTH interest on the amount withdrawn. © The annual percentage yield assumes that interest remains on deposit Renewal Policy: until maturity. A withdrawal of interest will reduce earnings. ^ Single Maturity: If checked, this account will not automatically ^ If you close your account before interest is credited, you will not renev,~. Interest ^ will ^ will not accrue after maturity. receive the accrued interest. [~ Automatic Renewal: If checked, this account will automatically The NiJNIBER OF ENDORSEMENTS needed for withdrawal or any renew on the maturity date. (see page two for terms) 1 Interest ~ will ^ will not accrue after final maturity. other purpose is: ACCOUNT OWNERSHIP: You have requested and intend the type of account marked below. ^ Individual (llM~ nnl Az IenanL © Joint Account -With Survivorship ;n n,mmim, ^ Joint Account - No Survivorship r.... 1en:mL Vn cumm,ml ^ Trust: Separate Agreement Dated ^ Revocable Trust Designation as defined in this agreement (Beneficiaries' names and addresses) BACKUP WITHHOLDING CERTIFICATIONS TIN: 179-10-3870 l~ Taxpayer LD. Number -The Taxpayer ^ Exempt Recipients - I am an exempt Identification Number shown above (TIN) is recipient under the Internal Revenue Service my correct taxpayer identification number. Regulations. A provision for my' signature, certifying, ^ Backup Withholding - 1 am not subject under penalty of perjury the statements to backup withholding either because I have checked in this section and that I am a U.S. ~ not been notified that I am subject to backup person (inchtding a U.S. resident alien), is withholding as a result of a failure to report contained on the first copy of this all interest or dividends. or the Internal certificate. Revenue Service has notified me that I am nn longer subject to backup withholding. ENDORSE ANTS - S N ONLY' WHEN Z'Oti REQUES~T~.WITHDRL 3i / A i,. DEFINITIONS: "W'e," "our," and "us" mean the issuer of [his account and "you" and "your" mean the depositor(s). "Account" means the original certificate of deposit as well as the deposit it evidences. TRANSFER: "Transfer" means an}~ change in ownership, withdrawal rights, or survivorship rights, including (but not limited to) an}~ pledge or assignment of this account as collateral. You canno( transfer this account without our written consent. PRIMARY AGREEMENT: You agree to keep your funds with us in this account until the maturity date. (An automatically renewable account matures a[ regular intervals.) You may not transfer this account without first obtaining our written consent. You must present this certificate when you reyuest a withdrawal or a transfer. This account is void if the deposit is made by any method requiring collection (such as a check) and the deposit is not immediately collected in full. If the deposit is made or payable in a tbreign currency, the amount of the deposit will be adjusted to reflect final exchange into U.S. dollars. We may change any term of this agreement. Rules governing changes in interest rates have been provided. For other changes we will give you reasonable notice in writing or by any other method permitted by law. If' any notice is necessary, you ail agree that the notice will be sufficient if we mail it to the address listed on page one of this form. You must notify us of any change. WITHDRAWALS AND TRANSFERS: Only those of you who sign the permanent signature card may withdraw funds from this account (In appropriate cases, a court appointed representative, abeneficiary of a trust account whose right of withdrawal ltas matured, or a newly .appointed and authorized representative of a legal entity may also withdraw from this account.) The specific number of you who must agree to any withdrawat is written on page one in the section bearing the title " ...Number of Endorsements .... "This means, for example, that if two of you sign the signature card but only one endorsement is necessary for withdrawal [hen either of you may request withdrawal of the entire account at any time. These same rules apply to define the names and the number of you who can request our consent to a transfer. PLEDGES: Any pledge of this account (to which we have agreed), must first be satisfied before the rights of any joint account survivor beneficiary or trust account beneficiary become effective. For example, if one joint tenant pledges the account for payment of a debt and then dies, the surviving joint tenant's rights in this account are subject first to the payment of the debt. OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION: You intend these rules to apply to this account depending on the form of ownership and beneficiary designation, if any, specified on page 1. We make no representations as to the appropriateness or effect of [he ownership and beneficiary designations, except as they determine to whom we pay the account funds. Individual Account -Such an account is owned by oue person. Joint Account With Survivorship (And Not As Tenants In Common) -Such an account is owned by two or more persons. Each of you intend that upon your death the balance in the account (subject to any previous pledge to which we have consented) will belong to the survivor(s). If two or more of you sun~ive. you will own the balance in the account ownership as joint tenants with survivorship and not as tenants in common. Joint Account - No Survivorship (As Tenants In Common) -Such an account is owned by two ar more persons but none of you intend (merely by opening this account) to create any right of survivorship in any other person. We encourage you to agree and tell us in writing of the percentage of the deposit contributed by each of you. This information will not however, affect the "number of endorsements" necessary for withdrawal. Revocable Trust Account (subject to this agreement) - If two or more of you create such an account, you own the account jointly with survivorship. Beneficiaries cannot withdraw unless: (1) all persons creating the account die, and (2j the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account in equal shares, without right of survivorship. Any such beneficiary may withdraw all or any part of the account balance. The person(s) creating this account type reserves the right to: (1) change beneficiaries; (2) change account types; and (3) withdraw all or part of the deposit at any time. Trust Account Subject to Separate Agreement - We will abide by the terms of any separate agreement which clearly pertains to this account and which you file with us. Any additional consistent terms stated on this form will also apply. SET-OFF: You each agree that we may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such person's or legal entity's right to withdraw. If the debt arises from a note, "any due and payable debt" includes the [ota'. amount of which we are entitled to demand payment under the terms of fne note at the time we set off, including anv balance the due date for which we properly accelerate under the note. This right of set-off does not apply to this account if: (a) it is an Individual Retirement Account or other tax-deferred retirement account, or (b) the debt is created by a consumer credit transaction under a credit card plan, or (c) the debtor's right of withdrawal arises only in a representative capacity. You agree to hold us harmless from any claim arising as a result of our exercise of our right of set-oft. BALANCE COMPUTATION METHOD: We use the daily balance method to calculate the interest on this account. This method applies a daily periodic rate to the principal in the account each day. TRANSACTION LIMITATIONS: ~'ou cannot make additional deposits to this account during a term (other than credited interest). You cannot withdraw principal from [his account without our consent except on or after maturity. (For accounts that automatically renew, there is a ten day grace period after each renewal date during which withdrawals are permitted without penalty.) In certain circumstances such as the death or incompetence of an owner of this account, law permits, or in some cases requires, the waiver of the early withdrawal penalty specified on page one. FOR ACCOUNTS THAT AUTOMATICALLY RENE4~': Each renewal term will be the same as this original one, beginning on the maturiq~ date (unless we notify you, in writing, before a maturity date, of a different term for renewal). You must notify us in writing 'refore, or within a ten day grace period a°er, the maturity date if you do not want this account to automztica'.ly renew. Interest earned during one term that is not withdrawn during or immediately after that term is added to principal for the renewal term. The rate for each renewal terTrt will be determined by us on or just before the renewal date. You may call us on or shortly before the maturity date and we can tell you what the interest rate will be for the next renewal term. On accounts with terms of longer than one month we will remind you in advance of the renewal and tell you when the rate will be known for the renewal period. See your plan disclosure if this account is part of an IRA. COMiV~ONW'EALTH OF PEfJNSYLVANIA DE°ARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DE?T. 2B0601 HARRISBURG, PA 17128-0601 DECEIVED FROM: HOOVER DENNIS J 6296 WILD LAKE DRIVE SYKESVILLE, MD 21784 loll PENNSYLVANIA INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT ESTATE INFORMATION: ssN: ~s6-28-5112 FILE NUMBER: 2109-0272 DECEDENT NAME: NOLAN FREDITH DATE OF PAYMENT: 1 1 /02/2009 POSTMARK DATE: 1 1 /02/2009 COUNTY: CUMBERLAND DATE OF DEATH: 03/01 /2009 ACN ASSESSMENT CONTROL NUMBER AMOUNT 101 ~ $1,353.52 TOTAL AMOUNT PAID: REMARKS: CHECK#111 SEAL INITIALS: SAP RECEIVED BY 51,353.52 GLENDA EARNER STRASBAUGH REGISTER OF WILLS REV-1162 EX(11-96) N0. CD 011940 TAXPAYER ~ I""~~ ~ PENNSYLVANIA INHERITANCE TAX INFORMATION NOTICE BUREAU OF INDIVIDUAL TAXES AND FILE N0. 21 09-0272 Po Box zao6ol TAXPAYER RESPONSE ACN 09164196 HARRISBURG PA 17128-0601 * * * REVISED NOTICE * * * DATE 03-04-2010 REV-1543 EX AiF (OB-OB) TYPE OF ACCOUNT EST. OF FREDITH E NOLAN ~ SAVINGS $Sj~( 186-28-5112 ~ CHECKING DATE OF DEATH 03-01-2009 ~ TRUST COUNTY CUMBERLAND ~ CERTIF. REMIT PAYMENT AND FORMS T0: VALERIA C NOLAN REGISTER OF WILLS PO BOX 97 1 COURTHOUSE SQUARE NEWBURG PA 17240 CARLISLE PA 17013 ORRSTOWN BANK provided the Department with the information below, which has been used in calculating the potential tax due. Records indicate that at the death of the above named decedent, You were a joint owner/beneficiary of this account. If you feel the information is incorrect, please obtain written correction from the financial institution, attach a copy to this form and return it to the above address. This account +s taxably in accordance with the Inheritar,ca Tax iaw~ of the Commonwealth of Pennsylvania. Please call C717) 787-8327 with questions. COMPLETE PART I BELOW * SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 4000002242 Date 09-24-2003 To ensure proper credit to the account, two Established copies of this notice must accompany payment to the Register of Wills. Make check Account Balance $ 10, 000 • 00 payable to "Register of Wills, Agent". Percent Taxable X 50.000 NDTE: If tax payments are made within three AmOUnt Subject t0 TaX $ 5, 000 00 months of the decedent's date of death, X . 0 4 5 deduct a 5 percent discount on the tax due. TaX Rate Any Inheritance Tax due will become delinquent Potential TaX Due $ 225 • 00 nine months after the date of death. PART TAXPAYER RESPONSE FAILURE To RESPOND WILL RESULT IN AN OFFICIAL TAX ASSESSMENT A. ~ The above information and tax due is correct. Remit payment to the Register of Wills with two copies of this notice to obtain a discount or avoid i nterest, or check box "A" and return this notice to the Register of C H E C K Wills and an official assessment will be issued by the PA Department of Revenue. ONE C B L 0 C K B. ~ The above asset has been or will be reported and tax paid with the Pennsylvania Inheritance Tax return 0 N L Y to be filed by the estate representative. ~he C above information is incorrect and/or debts and deductions were paid. . Com plete PART 2~ and/or PART 3~ below. PART a TAX LINE If indicatins a different tax rate, please state OFFICIAL USE ONLY ~ AAF' relationship to decedent: PA DEPARTMENT OF REVENUE' RETURN - COMPUTATION 1. Date Established 2. Account Balance 3. Percent Taxable 4. Amount Subject to Tax 5. Debts and Deductions 6. Amount Taxable 7. Tax Rate 8. Tax Due PART a DATE, PAID DF TAX ON JOINT/TRUST ACCOUNTS PAD -.- -~- 1 1 2 $ 2 3 X 3 4 $ 4 5 - 5 6 $ 6 ~ X 7 g $ 8 DEBTS AND DEDUCTIONS CLAIMED DESCRIPTION PAYEE AMOUNT PAID TOTAL CEnter on Line 5 of Tax Computation) $ Under penalties of perjury, I declare that the facts I have reported above are true, correct and complete o e test my knowledge and belief. / ~~d' S~ ~ . „~ ~ YS~.~-C HOME C . i .., ~ t-~n / / .A GENERAL INFORMATION 1. FAILURE TO RESPOND WILL RESULT IN AN OFFICIAL TAX ASSESSMENT with applicable interest based on information submitted by the financial institution. 2. Inheritance Tax becomes delinquent nine months after the decedent's date of death. 3. A Joint account is taxable even when the decedent's name was added as a matter of convenience. 4. Accounts (including those held between husband and wife) the decedent put in joint names within one year prior to death are fully tau able. 5. Accounts established jointly between husband and wife more than one year prior to death are not taxable. 6. Accounts held by a decedent "in trust for" another or,others are fully taxable. REPORTING INSTRUCTIONS - PART 1 - TAXPAYER RESPONSE 1. BLOCK A - If the information and computation in the notice are correct and deductions are not being claimed, place an "X" in Block A of Part 1 of the "Taxpayer Response" section. Sign two copies and submit them with a check for the amount of tax to the register of wills of the county indicated. The PA Department of Revenue will issue an official assessment (Form REV-1548 EX) upon receipt of the return from the register of wills. 2. BLOCK B - If the asset specified on this notice has been or will be reported and tax paid with the Pennsylvania Inheritance Tax Return filed by the estate's representative, place an "X" in Block B of Part 1 of the "Taxpayer Response" section. Sign one copy and return to the register of wills of the county indicated. 3. BLOCK C - If the notice information is incorrect and/or deductions are being claimed, check Block C and complete Parts 2 and 3 according to the instructions below. Sign two copies and submit them with your check for the amount of tax payable to the register of wills of the county indicated. The PA Department of Revenue will issue an official assessment (Form REV-1548 EX) upon receipt of the return from the register of wills. TAX RETURN - PART 2 - TAX COMPUTATION LINE 1. Enter the date the account originally was established or titled in the manner existing at date of dea NOTE fully taxablet wNowever, athere isl an8 exclusion noth to exceed 53~, ODOn pert transferee thregardless of fthe avalue eof the account or the number of accounts held. wasadeductedafromlthe(accountebalanceoas reportedshvnthe financialdinstitutionn of this notice, the 53,000 exclusion 2. Enter the total balance of the account including interest accrued to the date of death. 3. The percentage of the account that is taxable to each survivor is determined as follows: A. The percentage taxable of joint assets established more than one year prior to the decedent's death: 1 DIVIDED BY TOTAL NUMBER OF DIVIDED BY SURVIVINGBJOINT OWNERS MULTIPLIED BY 100 = PERCENT TAXABLE JOINT OWNERS Example: A joint asset registered in the name of the decedent and two other persons: 1 DIVIDED BY 3 (JOINT OWNERS) DIVIDED BY 2 (SURVIVORS) _ .167 X IOD - 16.7 percent (TAXABLE TO EACH SURVIVOR) B. The percentage taxable for assets created withinone year of the decedent's death or accounts owned by the decedent but held in trust for another individual(s) (trust beneficiaries): 1 DIVIDED BY TOTAL NUMBER OF SURVIVING JOINT MULTIPLIED BY 100 = PERCENT TAXABLE OWNERS OR TRUST BENEFICIARIES Example: Joint account registered in the name of the decedent and two other persons and established within one year of death by the decedent. 1 DIVIDED BY 2 (SURVIVORS) _ .50 X 100 = 50 percent (TAXABLE FOR EACH SURVIVOR 4. The amount subject to tax (Line 4) is determined by multiplying the account balance (Line 2) by the percent taxable (Line 3). 5. Enter the total of the debts and deductions listed in Part 3. 6. The amount taxable (Line 6) is determined by subtracting the debts and deductions (Line 5) from the amount subject to tax (Line 7. Enter the appropriate tax rate (Line 7) as determined below. Spouse Lineal Sibling Collateral Date of Death 07/01/94 to 12/31/94 3 percent 6 percent 15 percent 15 percent (, percent 15 percent 15 percent 01/01/95 to D6/30/DO 0 percent 07/01/00 to present 0 percent 4.5 percent * 12 percent 15 percent xThe tax rate imposed on the net value of transfers from a deceased child 21 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 0 percent. The lineal class of heirs includes grandparents, parents, children and other lineal descendents. "Children" includes natural children natural parentstand theirbdescendents,bwhethersoranotttheyhhaveebeendadoptedhbydothersLladoptedsdescendentsnanddtheirldescendantsf the and step-descendants. "Siblings" are defined as individuals who have at least one parent in common with the decedent, whether by blood or adoption. The Collateral class of heirs includes all other beneficiaDEBTS AND DEDUCTIONS CLAIMED CLAIMED DEDUCTIONS - PART 3 - Allowable debts and deductions are determined as follows: A. You are legally responsible for payment, or the estate subject to administration by a personal representative is insufficient to pay the deductible items. B. You actually paid the debts after the death of the decedent and can furnish proof of payment. C. Debts being claimed must be itemized fully in Part 3. If additional space is needed, use 8 1/2" x 11" sheet of paper. Proof of payment may be requested by the PA Department of Revenue. TAXPAYER ASSISTANCE IF YOU .NEED. FURTHER INFORMATION DR ASSISTANCE: CONTACT ANY REGIS"DER DF WILLS, PA ~JEPA87M83~7UFSERVTCES DQRTRAXPAYERSCWITN SPECIAL H~AR'INGr~ANDIORASPEAKING NEEDS 0.7.17 ) 7 ~,.,~ .,. , _unrr-~~~-320.