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HomeMy WebLinkAbout04-05-10In re: : IN THE COURT OF COMMON PLEAS OF :CUMBERLAND COUNTY, PENNSYLVANIA Trust Under Agreement of Arlene E. Byers and Galen C. Byers for benefit of :ORPHANS' COURT DIVISION Leah E. Shiley and Elizabeth A. Byers. .- No. 10- U ~ 5 3 _x~ C o S7~ r "O ~ G ~ ~~ i `~ < PETITION FOR REFORMATION OF TRUST i ~ ~~ ~ - ~_: TO THE HONORABLE, THE JUDGES OF SAID COURT: ~~~~ ~~ -`~' i CLLR. 4..1 -. zi w _ ~ ~- y N <.n ~ 1. Petitioner is Galen C. Byers, an adult individual of 102 t Hollenbaugh itbad, Carlisle, Cumberland County, Pennsylvania. 2. Petitioner is the sole trustee of the irrevocable trust dated January 23, 2002 established by Petitioner and Arlene E. Byers. A full and complete copy of the trust is attached hereto and incorporated herein by reference as Exhibit "A". 3. Pursuant to the terms of the trust, the trust Grantors' daughters, Leah E. Shiley and Elizabeth A. Byers are the sole beneficiaries of the trust. 4. Article III(a) of the trust names Leah E. Shiley as successor trustee in the event of the death of Petitioner. 5. Article VII of the trust further names Leah E. Shiley as successor Trustee should Petitioner be unable during his lifetime to serve as trustee and names Elizabeth A. Byers to serve as successor trustee should Leah E. Shiley be unable to serve as successor trustee. The trust is otherwise silent as to the appointment of additional or successor trustees. 6. In order to provide for the orderly transition of responsibility for the management of the trust and its assets, Petitioner desires to add his two daughters, Leah E. Shiley and Elizabeth A. Byers, the beneficiaries and successor trustees, as co-trustees to serve with him, each being an equal co-trustee. 12. Section 7764(e) of the Pennsylvania Uniform Trusts Act authorizes the court to appoint an additional trustee, whether or not a vacancy in the trusteeship exists, where the court considers the appointment desirable for the administration of the trust. 20 Pa.C.S.A. §7764(e). 13. All of the current beneficiaries of trust and the trustee have consented to the appointment of Leah E. Shiley and Elizabeth A. Byers as additional trustees. WHEREFORE, Petitioners respectfully request that your Honorable Court issue an C+rder appointing Leah E. Shiley and Elizabeth A. Byers as additional trustees to serve as co- trustees with Galen C. Byers, trustee. Respectfully submitted, Frey & Tiley, Attorneys for Petitioners By: Robert G. Frey, Esquire Supreme Court Number 463 5 South Hanover Street Carlisle, Pennsylvania 17013 (717) 243-5838 I verify that the statements made herein are true and correct and understand that false statements herein are made subject to the penalties of 18 Pa. C. S. A. §4904 relating to unsworn falsification to authorities. Dated: NI ~ c ~ 30 , 2010 ~ ` n Galen C. Byers In re: : IN THE COURT OF COMMON PLEAS OF :CUMBERLAND COUNTY, PENNSYLVANIA Trust Under Agreement of Arlene E. Byers and Galen C. Byers for benefit of :ORPHANS' COURT DIVISION Leah E. Shiley and Elizabeth A. Byers. No. 10- I, Leah E. Shiley beneficiary of the Trust Under Agreement of Arlene E. Byers and Galen C. Byers for the benefit of Leah E. Shiley and Elzabeth A. Byers, do hereby confirm my concurrence to the relief requested in the Petition to which this Consent is annexed. In particular, I do hereby confirm my desire that Leah E. Shiley and Elizabeth A. Byers be appointed as additional trustees to serve as co-hustees with Galen E. Byers, trustee. I further confirm that said appointment is desirable for the administration of the trust. --C~~Vl~L1~ LedkJE. Shile Y In re: : IN THE COURT OF COMMON PLEAS OF :CUMBERLAND COUNTY, PENNSYLVANIA Trust Under Agreement of Arlene E. Byers and Galen C. Byers for benefit of :ORPHANS' COURT DIVISION Leah E. Shiley and Elizabeth A. Byers. No. 10- I, Elizabeth A. Byers, beneficiary of the Trust Under Agreement of Arlene E. Byers and Galen C. Byers for the benefit of Leah E. Shiley and Elzabeth A. Byers, do hereby confirm my concurrence to the relief requested in the Petition to which this Consent is annexed. In particular, I do hereby confirm my desire that Leah E. Shiley and Elizabeth A. Byers be appointed as additional trustees to serve as co-trustees with Galen C. Byers, trustee. I further confirm that said appointment is desirable for the administration of the trust. IRREVOCABLE AGREEMENT OF TltOST THIS AGREEMENT made this ~ day of January; 2002, by and between ARLENE 8. BYBRS, of Carlisle, Cumberland County, Pennsylvania and GALEN C_ BYERS, of Boiling Springs, Cumberland County, Pennsylvania, hereinafter referred to as "Grantors" AND GALEN C. BYffiLS, Trustee, hereinafter referred to as "Trustee." i1ITNESSETH irHERBAS, the "Grantors" desires to irrevocably assign the assets and properties listed in Schedule "A" to the "Trustee" to manage and control for the benefit of the beneficiaries named in this Agreement. In consideration of the mutual covenants and agreements contained in this Agreement, "Grantors" and "Trustee" agree as follows: ARTICLE I: "Trustee" agrees to hold and administrator the assets of this Trust, and the assets transferred by the "Grantors" hereinafter referred to as the "Trust", in trust nevertheless for the uses and purposes set forth in this Agreement. ARTICLE II: During the lifetime of Galen C. Byers; (a) Galen C. Byers shall have the exclusive right Exhibit "A" to use the real property and .improvements, hereinafter referred to as the "farm property, in his agricultural and farm business for his lifetime, subject to the following: (i) Galen C. Byers shall not be required to pay any sum to the Trust for the use of the said farm .property, but shall be personally responsible for all real estate taxes, special assessments, snow removal, property, fire, extended coverage and liability insurance, major repairs, including but not limited to roofing, water, and furnace. (ii) The rights of Galen C. Byers to farm the property and to exercise all rights of an owner of real estate in fee simple, are personal to him and shall not be transferred or assigned to any other persons or entities, other than the right to engage and employ any persons he deems necessary for the beneficial operation of the farming of the said farm property, which shall be in his sole dis- cretion. (iii) The rights of Galen C. Byers to utilize the farm property shall cease and terminate upon his death. (iv) The said Galen C. Byers shall not utilize the farm property in .the Trust as collateral or in any manner which. imposes a lien against the said farm property, without the prior written consent of the said beneficiaries. (v) The said Galen C. Byers rights under - 2 - Exhibit "A" (continued) this Trust shall cease and terminate upon the sale or similar disposition of the farm property held by this Trust, with the written consent of the said beneficiaries. (b) That Arlene E. Byers shall have the exclusive right to occupy the residence on the farm property as her principal residence, including a reasonable area around the residence for her personal use and a right of way to the residence for access to and from the residence, for as long as she desires, subject to the following: (i) For a period of three (3) years ending on January 31, 2005, no rental shall be payable for the use of the said residence. (ii) Commencing February 1, 2005, monthly rental in the amount of One Thousand ($1,000.) Dollars shall be paid for the use of the said residence to the said Galen C.~Syers. Thereafter, there shall be an annual review of said rental to determine any increase utilizing recognized rental factors in Central Pennsylvania residence rentals. (iii) Arlene. E. Byers shall be responsible for expenses associated with her. occupancy of the residence, including but not limited to: TV cable, heating expenses and minor repairs (including painting, wall papering and similar cosmetic improvements). (iv) Arlene E. Byers shall be responsible - 3 - Exhibit "A" (continued) for providing insurance on her personal property located on the real property. (v) The rights of Arlene E. Byers to use the residence are personal to her and shall not extend to any other persons and shall not be transferred, assigned or set over in any way to any other person or entity. (vi) All rights of Arlene E. Byers to use the residence shall cease and terminate on the 30th day after she is no longer occupying the residence as her primary residence. (vii) Arlene E. Byers shall not use the residence as collateral or any manner which imposes a lien or charge against said residence without the prior written consent of the Trustee. (c) The Trustee may sell or otherwise dispose of the development rights and/or easements associated with the farm property by joinder and the written consent of the said beneficiaries. Ci) In the event that said sale is made prior to Galen C. Byers' death, then the proceeds from the sale or disposition shall be divided equally between the said Galen C. Byers and his two daughters or their respective estates as further defined in this agreement. (ii) The Trustee, in his absolute discretion, - 4 - Exhibit "A" (continued) may use his share of said moneys from the disposition of development rights or easements associated therewith, to make permanent improvements to the farm real property, including but not limited to replacement of out buildings on the farm property. (iii) The beneficiaries, at their discretion, may take their share of said moneys or leave said moneys in the trust. ARTICLE III: Upon the death of Galen C': Byers,-the said Trust shall terminate and deem to be self executing, in which the res of the Trust shall be transferred and conveyed equally, share and share alike to the said daughters; and/or their estate, heirs, executors, administrators and assigns, prohibiting only that the said Arlene E. Byers shall not be a beneficiary in the said real estate disposition, except as to the daughters or daughter, naming her as their/her beneficiary. (a) Further, that upon the death of the said Galen C. Byers, to further insure the orderly transfer of the re- spective interest to the daughter beneficiaries, Leah E. Shiley, shall serve as successor trustee and be vested with all powers and authority, without the necessity of prior court approval or posting any bond to effect the transfer of the respective real estate interest to the said daughter beneficiaries. ARTICLE IV: That in the event, during, the - 5 - Exhibit "A" (continued) lifetime of the said Galen C. Byers,. that ft was deemed to be mutually beneficial to the daughter beneficiaries and the said Galen C. Byers to sell the real estate; that the said real estate may be sold with the written consent of the daughter beneficiaries, and the net proceeds be divided equally, between the said Galen C. Byers and his two daughters, i.e. beneficiaries. (a) And therefore, the Trustee shall have no power or authority to sell or mortgage the real property held by this Trust, without the prior written consent of the then living daughters; and as previously recited in this Agreement. (b) By reason of the fact, that there is to be no funding of moneys, either income or principal by the said Galen C. Byers during the lifetime of this Trust, any provisions relating to the rights of third persons to effect, attach or re- ceive money or income from the said Trust, are inapplicable and requires no further recital. ARTICLE V: That as to any daughter, who should predecease the said Galen C. Byers, that it is expressly. understood that her respective interest shall vest in her estate, issue if any, executors, administrators or assigns for such disposition as that particular daughter wishes the usage of the receipt of her share of the said zeal estate. ARTICLE Vi: This Agreement of the Trust is irrevocable and may not be modified or amended. - 6 - Exhibit "A" (continued) ARTICLE VII: Grantors make the following provision with respect to Trustee: (a) That in the event that the Trustee is unable to serve for the remainder of his lifetime, the said Leah E. Shiley shall serve as successor Trustee and if she should die or is unable to serve, then Elizabeth A. Byers shall serve as successor Trustee. (b) No Trustee shall receive compensation for services rendered. (c) The Trustee shall not be liable or accountable for any loss that may result from the good faith exercise of the authority granted in this Agreement. (d) The Trustee is specifically relieved from the duty of filing bond or enterir~q security. ARTICLE VIII: The initial situs of this Trust shall be in Cumberland County, Pennsylvania; and the Trustee may determine, from time to time to change the situs of this Trust established under this Agreement. However, no change in situs shall be effective until written notice shall have been provided to the beneficiaries of the Trust. ARTICLE IX: (a) For the purpose of the valuation of 'the res of the said Trust, it is stipulated and agreed, the value is $850,000. (b) Further, the said Galen Byers agrees and stipulates, that upon the execution of the Property Settlement - 7 Exhibit "A" (continued) Agreement and this Irrevocable Agreement of Trust, his interest passes to the Trust and no interest shall remain in his Estate. That if he should remarry, a Prenuptial Agreement with that party shall be executed, waiving any possible claims to that res, in- cluding but not limited to any increase in value of the res or any assets resulting from a transmutation of property in the res occurring from the date of the signing of this document, and providing a copy of the same to the said beneficiaries. IN WITNESS WHEREOF, we have set our hands and seals, this day and year first written. I n s Witnes GRANTORS: ~~~Q~f/! ~J__ '~5~ ( SEAL ) Galen C. Byers I /~~1~!/~. Y~ ( SEAL ) Arlene L: Bye TRUSTEE: l/ ~ ~~ ~ ~Cf ~-~•~'Q.. ( SEAL ) wit ss Ga en C. Byers - 8 - Exhibit "A" (continued) t SCEIEDUi~ "A" Real pro~•y g of approxiaonateb- 98.53 ~e8 and known ss 150 $ye~rs Ro~c1, Carlisle, Cumberland County. Penns9tvanie. Ts~ Parcel No. 40-09=05811-Da6• 4 ~ Exhibit "A" (continued) y i COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF On this, the _~~.~L,:__ day of January, 2002, before me, a Notary Public, the undersigned officer, personally appeared Galen C. Byers and Arlene E. Byers, Grantors, known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument, and acknowledged that they executed the within instrwnent for the purposes therein contained. IN WITNESS WHEREOF, I have hereunto set my hand and notary seal. No ary Public My Commission Expires: ~. _ ,.v.- _ NOTARI~~. S6'+L" (SEAL ) SANDRA L SC~~~. R,_:E^1`,~ Pttt3~ } Dci2¢f1I~. ~~'lFtiy My Conm~ss{on Expkes G:~. 2d, 2p~ ; Exhibit "A" (continued) M