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HomeMy WebLinkAbout05-03-10/U- OU// Family 8 Creditor Agreement-Waiving Filing of Account This Agreement is by and between Donald P. Osborne of 9 East Linder„ Drive, Carlisle; .Pennsylvania 17013; in his capacity as Administrator p~ ant tom Small Estate Petition of the Last Will and Testament dated April 12, 1 f Mari Elizabeth Osborne, a/k/a Mary E. Osborne, Deceased, ~ ~ '~ ;__ v5 ~ w and ~~~ ,,. ~~ 3 Donald P. Osborne of 9 East Linden Drive, Carlisle, Pennsylv~era'1701~ the residuary and only legatee of the estate of Mary Elizabeth Osborne, a/k/a Mary E. Osborne, Deceased pursuant to paragraph Second of the said Last Wilr and Testament. "` "" And Commonwealth of Pennsylvania, Department of Public Welfare, Estate Recovery Program, of P.O. Box 8486, Harrisburg, Pennsylvania 17105- 8486. For purposes of this agreement, when Donald P. Osborne is referred to in his fiduciary capacity, the term, "Administrator" will be used and, when he is referred to in his individual capacity, he will be referred to as "legatee" or "beneficiary." BACKGROUND 1. Mary Elizabeth Osborne, a/k/a Mary E. Osborne ("Decedent') died on November 30, 2009, a resident of South Middleton Township (1 Longsdorf Way), CumbSerland County, Pennsylvania, leaving a Will dated April 12, 1993. 2. Donald P. Osborne was empowered to settle the estate of Mary Elizabeth Osborne, a/k/a Mary E. Osborne pursuant to a Petition for Distribution of Small Estate (pursuant to 20 Pa. C.S.A. §3102) that he filed on January 7, 2010 to Cumberland County number 21-10-00011. A Decree was entered by the Court on January 8, 2010. 3. In her Will, Decedent made no specific bequests and in paragraph SECOND named Donald P. Osborne as the sole residuary legatee. A copy of the Will is attached as Exhibit "B" to the aforementioned Petition for Distribution of Small Estate. 4. The Administrator has not advertised the entry of the Decree pursuant to the Petition for Distribution of Small Estate. The Administrator has filed a Pennsylvania Inheritance Tax Return. Federal and state income tax returns, if required, will be filed and the appropriate taxes thereon paid. :7, ~,' %=~ ,~-~ -, -„ :.~, __~ c? -, ,-; , -~~ ,~.~ ~;:r > ~~ -~, ~._. ni ~.~~ Family & Creditor Agreement -Estate of Mary Elizabeth Osborne Page 1 of 5 5. The Administrator has paid all .the taxes, Attorney's fees, Administrator/Executor's fees, debts and expenses of the estate known to him, to the extent that funds are available, and pursuant to the said Petition for Distribution of Small Estate. The Administrator has no knowledge of any unpaid claims, absolute or contingent, which may be asserted against the estate nor does he have any reason to believe that there are any such claims, except for the unpaid balance due the Commonwealth of Pennsylvania, Department of Public Welfare, Estate Recovery Program, the total amount of which is $222,267.19. A copy of the cover letter for the Estate Recovery Program Claim is attached hereto as Exhibit "A." 6. The Administrator has liquidated the assets of the Decedent. 7. An account of the principal and income received by the Administrator, his disbursements, and a Schedule of Distribution, is attached hereto as Exhibit "B." The funds available for the Estate Recovery Program are $300.11. The net value of the estate available for distribution to the beneficiary of the estate is $0.00. 8. All parties hereto desire that this Family & Creditor Agreement make unnecessary the filing an accounting in the Orphans' Court Division of the Court of Common Pleas of Cumberland County. NOW THEREFORE, intending to be legally bound, the parties do hereby: 1. Waive the filing of an account of the administration of the estate in any court, at the discretion of the Administrator. 2. Declare that the undersigned have examined the Account and Proposed Schedule of Distribution which are attached hereto as Exhibits "B" and find them to be true and correct in all particulars; accept and approve them with the same force and effect as if they had been prepared and filed with, audited, adjudicated and confirmed absolutely by a court of competent. jurisdiction; and as if the balance of principal and income had been awarded by the Court in accordance with the Proposed Schedule of Distribution. 3. Warrant that the beneficiary named in the Proposed Schedule of Distribution, and the Pennsylvania Department of Public Welfare, Estate Recovery Program, are the sole remaining parties in interest in the estate and that the Pennsylvania Department of Public Welfare, Estate Recovery Program is entitled to receive a distribution of the remaining funds in the estate as shown on Exhibit "B" attached hereto, to wit: $301.11. 4. Warrant that the undersigned know of no outstanding and unsatisfied claims against the estate, except for the Pennsylvania Department of Public Welfare, Estate Recovery Program. Family & CreditorAgreement-Estate of Mary Elizabeth Osborne Page 2 of 5 5. Approve the distribution of the balance of principal and income shown in the Account and Proposed Schedule of Distribution which are attached hereto as Exhibit "B" to the persons or parties set forth therein. 6. Absolutely and irrevocably release and discharge the Administrator, and his heir8, personal representatives, successors and assigns of and from any and all actions, liabilities, claims and demands relating in any way to his administration of the estate and distribution in accordance with the Account and Proposed Schedule of Distribution which are attached hereto as Exhibit "B" and without a caurt accounting and adjudication. 7. Agree to refund to the Administrator any amount of the payment or distribution which exceeds the amount to which the undersigned are entitled as may hereafter be determined in accordance with law. 8. Agree to indemnify and hold harmless, the Administrator, and his heirs, personal representatives, successors and assigns, from and against any claims, liabilities, loss or expense (including costs and counsel fees) arising from any cause whatsoever, which the Administrator may incur as a result of the administration of the estate and its distribution in accordance with this agreement including, but not limited to, any liability for any federal estate taxes, Pennsylvania Inheritance tax or any other death taxes, and any federal or Pennsylvania income taxes, and Pennsylvania personal property taxes, together with any interest and costs incidental thereto, relating in any way to the estate and also including, but not limited to, any assets received or payments or distributions made by reason of any negligence or mistake of law or fact. 9. Agree that this Agreement shall be binding and effective as against each party upon execution (signing) by that party and the Administrator. that: 10. Agree that notwithstanding any other provision of this Agreement .This Receipt .and Release constitutes a release of the claim of the Pennsylvania Department of Public Welfare only to the extent of those assets of the decedent as set forth in the accounting attached hereto, and shall not constitute a release of any claim of said Department in and to any other assets presently in the hands of the Administrator, in the hands of any other person, or which may be hereafter discovered. Family & CraditorAgreement-Estate of Mary Elizabeth Osborne Page 3 of 5 IN WITNESS WHEREOF, and with intent to be le ally bound hereby, the parties hereto have set their hands and seals this day of March, 2010. /~(~ Witness: ~ / ~ ~ (Seal) ~ Donald P. Osbome, Administrator Witness: Sea!) Donald P. Osbor e, residuary legatee Witness: ~• (Seal) C on Ith of Pennsylvania D rtm f Public Welfare Estate Recovery Program Commonwealth of Pennsylvania }ss. County of Cumberland On this, the ~~ day of March, 2010, before me, the undersigned officer, personally appeared Donald P. Osborne, known to me (or satisfactorily proven) to be the Administrator or residuary legatee whose name is subscribed fo the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, 1 hereunto set my hand. and official seal. `- (SEAL) NarMUti s~ RO~ERf G. ~Rl14 NCMRY PU~LK ~aiagn d Cate uwear~d Cwil~r M My to~.~itfla+ f~pYes ho+. 4, 2010 Family & Creditor Agreement -Estate of Mary Elizabeth Osborne Page 4 of 5 Commonwealth of Pennsylvania }ss. County of Dauphin ~ I On this, the ~ (o day of Meth, 2010, before me, the undersigned officer, personally appeared ~~~lV ~ ~~c3- ~. ~ ~ ~-n , known to me (or satisfactorily proven) to be the C t ,L} whose name is subscribed to the within instrument, and acknowledged that he/she is the G~ IA- of the Commonwealth of Pennsylvaniia, Department of Public Welfare, Estate Recovery Program and that he/she executed the same for the purposes therein contained. IN IMITNESS WHEREOF, 1 hereunto set my hand and official seal. ~ G~C~C'LU" ~ ~ (SEAL) COMMONWEALTH OF PENNSYLVANIA NOTARIAL SEAL NICOLE L. LIPSCOMB, Notary Public City of Harrisburg, Dauphin County My Commission Expires July 29, 2010 Family & CreditorAgreement-Estate of Mary Elizabeth Osborne Page 5 of 5