Loading...
HomeMy WebLinkAbout07-01-10~~ -09- vs3~ FAMILY SETTLEMENT AGREEMENT AND FINAL RELEASE IN THE ESTATE OF GERALDINE L. SEBURN KNOW ALL MEN BY THESE PRESENTS, that, WHEREAS, Geraldine L. Sebum, late of Cumberland County, Pennsylvania, died testate on June 9, 2009, having first made her last will and testament duly executed on July 16, 2007; WHEREAS, the said Geraldine L. Sebum, by the aforesaid last will and testament, named Joey L. Morrison, Sr., Executor of said last will; WHEREAS, letters testamentary on the estate of the said decedent were duly issued by the Register of Wills of Cumberland County, Pennsylvania, to the said Executor, Joey L. Morrison, Sr. hereafter collectively called the personal representative. WHEREAS, the personal representative has gathered the assets of the estate of the said decedent and the assets consist of personal and real property, to a total value as set forth in Exhibit "A", a copy of the Pennsylvania Inheritance Tax Return filed by said personal representatives, and which has been provided to each heir; WHEREAS, the debts and deductions, including the payment of inheritance tax in the said estate, are $22,688.90, as further referenced in Exhibit "A"; WHEREAS, a balance for distribution of $ 59,948.77 exists; WHEREAS, the balance for distribution has been reduced to cash and is available for distribution in accordance with the terms of the last will and testament of the said decedent. NOW, THEREFORE, KNOW YE, that we, being all of the named beneficiaries of the will and the said decedent, do hereby each of us, acknowledge that we have this day had and received from the aforesaid personal representative, in full satisfaction and payment of all sum or sums of money, legacies, bequests, and devised as are given, devised and bequeathed to each of us respectively by the said will of Geraldine L. Sebum in the amounts d ue us under said will, whi,c~i `_~ amounts we have received this day, in the amounts as set forth on Exhibit "B" heretb-, ~ .. . ~., `= m , - <.~ --- '_ `_j .-~ ." _. -1 ~ ~''~ .... , z ~ AND, each of us does hereby stipulate that in order to avoid the expense and time involved in the filing of a formal account and schedule of distribution, we each agree that no account is necessary and we do hereby agree that we do consent to distribution being made without the filing of an account and schedule of distribution, the same to be with the same force and effect as if they had been filed and confirmed by the Orphans' Court Division of the Court of Cumberland County. THEREFORE, we and each of us, do hereby remise, release, quitclaim and forever discharge the said personal representative, heirs, executors, and administrators and assigns of and from the said estate and from all actions, suits, payments, accounts, reckonings, claims and demands whatsoever for or by reason thereof, or for any other use, matter, cause or thing whatsoever, touching upon the estate of the said decedent, and each of us do further hereby covenant and agree with each other and the aforesaid personal representative, that we will. contribute pro-rata, our share of the estate to satisfy any and all claims, demands, suits, or causes of action which maybe successfully prosecuted against the said estate or aforesaid personal representative after the signing, sealing and delivery of this family settlement agreement and final release. 1N WITNESS WHEREOF, and intending to be legally bound hereby, we have hereunto set our hands and seals on the dates below indicated. WITNESS: ~" Joey L. M rrison, Sr. COMMONWEALTH OF PENNSYLVANIA SS. COUNTY OF CUMBERLAND AND NOW, this ~'~ day of ~L~. , 2010, before me, the undersigned officer, personally appeared Joey L. Morrison, Sr., known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. w,,..,+,. _. .,, ..r.r ...... Wit! p~p~~ ~~ ~~ouwni Notary Public Y ~ Roger L. Morrison COMMONWEALTH OF PENNSYLVANIA SS. COUNTY OF CUMBERLAND A'.~D ;t;,J~1;;~ ti-ii3 g ~I?.; nt ```~ ~ Of ~ -~ j,~1,e , :.Q l 0, be~o.re me, the imdersi~ned officer, personally appeared Roger L.Morrison, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. MOi111NAt >~IL Nolpy . ~ ~0.. ~ '. ~ ~ ~ ~' ~: Notary Public n' ~l '^ tcl ~I'L '' Z,9~Gd.~1~~ Jerry M. Morrison COMMONWEALTH OF PENNSYLVANIA / / SS. COUNTY OF LS~E~ C,(~-n'1 !1.ll.t...Q~C.-r~.~'• AND NOW, this ~~ day of ~.-t.....r~2~ , 2010, before me, the undersigned officer, personally appeared Jerry M. Morrison, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. C MMpNWEALTH OF PENNSYWA A ~ NOTARIAL SEAL ~ DARCIE A. NEIL, Notary Public otary Public ~~n Expitb None. ~4 2013 Walter Stanley Momson COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND AND NOW, this ~ day of .~~,~,j;~..... SS. ?010, before me, the undersigned officer, personally appeared Walter Stanley Morrison, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. MONWEALTH OF PENNSYLVANIA NOTARIAL SEAL l CA~AECAJ.MANGES, Notary PubNc ~_~~ ~ p~ June 2C1~2014 Notary Public J REV-1500 Ex (os-os) PA Department of Revenue Bureau of Individual Taxes PO BOX 280601 Harrisburg, PA 17128-0801 15056051058 OFFICIAL USE ONLY County Code Year File Number INHERITANCE TAX RETURN -,-.~_., ~, ~........ _.. ~ . ..._.. RESIDENT DECEDENT 21 09 00532 (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name _...... ~_..__._" v. -..__. _...._._ ____. Spouse's Social Security Number Date of Birth _. 11!29/1933 f i ..................... _.......................................................................................... Decedent's First Name MI Geraldine L Suffix Spouse's First Name MI _.. ~".. __" .. ___.~_...~ ._., THIS RETURN'MUST BE FILED.IN DUPLICATE WITH THE IREui~TER GF VNi~LS FILL IN APPROPRIATE OVALS BELOW ~~ 1. Original Return 2. Supplemental Retum 3. Remainder Return (date of death prior to 12-13-82) 4. Limited Estate ~,z 4a. Future Interest Compromise (date of ~ 5. Federal Estate Tax Retum Required death after 12-12-82) sa1~ 6. Decedent Died Testate ~ 7. Decedent Maintained a Living Trust __ 0_ 8. Total Number of Safe Deposit Boxes (Attach Copy of Will) (Attach Copy of Trust) ~..:. ~ 9. Litigation Proceeds Received C ~ 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 TO: Name _.. ~_-_ ......_ .. .._.._- ...... . _..... ,__ ..~,.. _~.___ ., . __ ....._._.. .. _ ,.Daytime Telephone Number rya ._._ 3 ___. David A. Baric Esquire (717) 249..687-: ~ s -_~ ' _ _. Firm Name (If Applicable) ~. _ _.. "__"... "" .. ",~ -. ~ ---G"1 REGISTER OF INtC L~E ONt*A f Z i - . .~ ~ :J :O'Brien Baric & Scherer ! ? -- _ _ ..~ "` First line of address _._ I ' r ~7 19 West South Street L? - ~~ ' - ~ , ~; f` : econd line of address ............... _ _ _. i -~ ~- .. : - ,- .1 s t:.J ' _._ __.._ .. ."___ .. __. ....._..._ . _ City or Post Office ___._.. ..... _.. .. ____.. ." ___ .. _ _.._..~ State ZIP Code __...._ a ,DATE FILED _.. Carlisle PP, ` ;7013 Correspondent's a-mail address: dbaric@obslaw.com Under penalties of perjury, I dedare that I have examined this return, including accompanying schedules and statements, and to tho best of my knowledge and belief, ft is true, correct and complete. Dedaratlon of preparer other than the rsonal representative is based on all information of which preparer has any knowledge. SI RE OF PERSON R SPONSI LE OR FILING RETURN DATE 5 17241 ~wrv~u •rctrnrtgrc i r~trc ~ fyv rcr,~st~ uv rvt DATE ~ n/~~/~ ADDRESS ~ / 19 West South Street, Carlisle, Pennsylvania 17013 PLEASE USE ORIGINAL FORM ONLY Side 1 15056051058 15056051058 EXHIBIT "A" REV-1500 EX 15056052059 Decedents Name: Geraldine L Seburn RECAPITULATION Dwewrlwnt'c en..~~i 179-12-4658 Number _..... __ 1. Real estate (Schedule A) ............................................. 1. ! 0.00 2. Stocks and Bonds (Schedule B) ~ '~A ono nn 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ..... 3. 4. Mortgages 8 Notes Receivable (Schedule D) ............................. 4. 5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ........ 5. 6. Jointly Owned Property (Schedule F) C` Separate Billing Requested ....... 6. 7. Inter-Vivos Transfers 8 Miscellaneous Non-Probate Property (Schedule G) C Separate Billing Requested........ 7. 0.00 '. 0.00 S. Total Gross Assets (total Lines 1-7) .................................... 8. 9. Funeral Expenses 8 Administrative Costs (Schedule H) ..................... 9. 10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) ................ 10. 11. Total Deductions (total Lines 9 & 10) ................................... 11. 22,688.90 0.00 12. Net Value of Estate (Line 8 minus Line 11) .............................. 12. 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) ........................ 13. 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 _ . _... __. .._. _ (a)(1.2) X .0_ 15 16. Amount of Line 14 taxable ~_._.,.. _ ...__..........,,,.. _...._.. ..~.,...... at lineal rate X .0 45 54,076.10 16 2 433.42 W, ,,, .,.:,, 17. Amount of Line 14 taxable _ _ . - at sibling rate X .12 17 o.,_x.. ...~,_, _... ..._~ e 18. Amount of Line 14 taxable ~~ ""~"~ ~~`°° °~-~ - ~ ~ ~-- Y ~a at coilaterat rate X .15 18 19. TAX DUE ......................................................... _... _,. . 19. 2,433.42 .......................__................. 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT 15056052059 Side 2 15056052059 REV-1500 EX Page 3 Decedent's Complete Address: File Number„_ k.,.„. ,, ..,, .. i 21 ~ os 00532 ~ ~ DECEDENTS NAME w_ . . ~~........~...__......__._~.,.~..~.. "'~ Geraldine L Seburn DECEDENTS SOCIAL SECURITY NUMBER STREETADDRESS 179-12-4658 5 Parker Road cITY Nevwille STATE Zlp PA 17241 Tax Payments and Credits: 1. Tax Due (Page 2 Line 19) 2. Credits/Payments (1) 2,433.42 A. Spousal Poverty Credit B. Prior Payments C. Discount 3. InterestlPenalty if applicable Total Credits (A + B + C) (2) 0.00 C. Interest E. Penalty Total Interest/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, Llne 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. (58) 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 : ............................................ ^ ^ 0 c. retain a reversionary interest; or .......................................................................................................................... ^ d. receive the promise for life 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 off ~ ~ an Individual Retirement Account, annuity, or other non-probate propert which y contains a beneficiary designation? ........................................................................................................................ ^ 0.00 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 (0) 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 decedent, whether by blood or adoption. REV-1508 EX+ (6-98) SCNEDt~LE E COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS 8c MISC. INHERITANCE TAX RETURN PERSONAL PROPERTY RESIDENT DECEDENT ESTATE OF FILE NUMBER Geraldine L. Seburn 21-09-0532 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. M & T Bank; checking account; acct # 9839436244 21,803.00 2. ',M & T Bank; savings account; acct # 15004218082945 15,327.00 3. 'Erie Insurance; car insurance refund 22.00 4. :.Capital Blue Cross; health insurance refund 154.00 S. :Miscellaneous personalty 750:00 6. 'PA State Treasury 500.00 TOTAL (Also enter on line 5. Recaoitulationl S 38,556.00 (If more space is needed, insert additional sheets of the same size) REV-1511 EX+ (12-99) SCEIEp1~LE M ' COMMONWEALTH OF PENNSYLVANIA FUNERAL EXPENSES Sc INHERITANCE TAX RETURN ADMINISTRATIVE COSTS RESIDENT DECEDENT ESTATE OF FILE NUMBER Geraldine L. Seburn 21-09-0532 Debts of decedent must be reported on Schedule L ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAI. EXPENSES: t' '.Osiris Holding of Pennsylvania (grave) 2,010.00 2. ''Ewing Brothers Funeral Home 7,449.00 B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions 3,838.00 Name of Personal Representative(s) JOey L. MOrrISOn, Sr. Social Security Number(s)/EIN Number of Personal Representative(s) ` 191-40-9974 Street Address 5 Parker Road city Newville ,state PA Z;p 17241 Year(s) Commission Paid: 2010 2. Attorney Fees 3,838.00 3. Famify Exemption: (If decedent's address is not the same as claimant's, attach explanation) ._ 3,500.00 Claimant Joey L. Morrison, Sr. streetaddress 5 Parker Road Ciry ~ Newville 'State PA ,zip 17241 Relationship of Claimant to Decedent SOn 4. Probate Fees 132.00 5. Accountant's Fees 250.00 6. Tax Return Preparer's Fees 868.00 z. Cumberiand Law Journal: legal advertising 75.00 s. The Sentinel: legal advertising 166.30 s. '?West Shore EMS _ _ 250.00 ~o. _., Refund to Joey L. Morrison, Sr. 100.00 ~ ~. :Internists of Central PA 212.60 TOTAL (Also enter on line 9, Recapitulation) ~', 22,688.90 (If more space is needed, insert additional sheets of the same size) ~,. ~, ~.. ~~~~~~ OF GERALDINE L. SEBURN I, GERALDINE L. SEBURN, of Cumberland County, Pennsylvania, being of sound mind, memory and understanding, do hereby make, publish and declare this as and for my Last Will and Testament, hereby revoking aTl other wills and codicils heretofore made by me. ITEM ONE: I direct the payment of my debts and the expenses of my last illness and funeral from my estate as soon after my death as conveniently may be done. If there be no cemetery lot available for my interment, owned by me at the time of my death, I authorize my personal representative to purchase such cemetery lot with a contract for perpetual care, using therefor funds from my estate, and I authorize my personal representative to cause title to or ownership of such lot so purchased to be vested in such person as my personal representative shall designate. Further, in this connection, I authorize my personal representative to expend funds from my estate, in such amount as my personal representative shall consider necessary and desirable, for the purchase, erection and inscription of a suitable marker for my grave. ITEM TWO: I give, devise and bequeath my entire estate, real, personal and mixed as follows. My estate is to be divided into four (4) equal shares. My sons, WALTER STANLEY MORRISON, JOEY L. MORRISON, JERRY M. MORRISON and ROGER L. MORRISON are to receive their respective shares per stirpes. I do not bequeath any of my property to my son, EUGENE MORRISON. Page 1 of 4 ITEM THREE: I direct that no executor, guardian or other fiduciary named, nominated, or appointed by this my Last Will and Testament shall be required to post any bond or give any security of any type for any purpose whatsoever, any law or rule of the court of the Commonwealth of Pennsylvania or any other jurisdiction to the contrary notwithstanding. I direct that the law of the Commonwealth of Pennsylvania shall apply to any interpretation or application of the validity of this instrument. ITEM FOUR: My executor shall have the following powers in addition to those vested in them by law and by other provisions of this Will, applicable to all property, real, personal or mixed and wheresoever situate, including property held for minors, whether principal or income, exercisable a without court approval, and effective, with respect to each item of said ro e p p rty until actual distribution thereof. A) To retain, as investments of my estate, any or all assets of my estate, real, personal, or mixed without re and to an p q 3 ~ g y principal of diversification, and to urchase and ac uire real or personal a property and to hold any or all of such real and personal property retained or acquired without making the same productive of income. B) To permit the children, or any of them, to occupy any real estate retained or acquired upon such terms and conditions as my executor or trustee shall deem proper. C) To pay all taxes, charges and expenses of maintenance, upkeep, improvements, development, protection, preservation and investment of any retained or acquired real or personal property, such payments to be made from either principal or income as my executor or trustee shall determine. Page 2 of 4 D) To retain or invest any and all funds, whether principal or income, in any real or personal property without restriction to legal investments; to purchase investments at premiums; to exercise all rights of a security holder or share holder in any corporation; and to lease, mortgage, pledge, give options upon or sell at public or private sale and without approval of any court, any real or personal property, or portion or portions thereof, irrespective of the manner or the means by which the same was acquired by my said executor or trustee. E) To make payment or distribution herein provided for in cash, kind or partly in cash and partly in kind, at valuations fixed by my executor or trustee at the time of distribution. ITEM FIVE: Any and all payment or payments of any sum or sums, whether in cash or in kind and whether for principal or income, payable to an heir, or any of them, shall be made upon the sole receipt of the respective individual to whom the payment is made, and free from anticipation, alienation, assignment, attachment, and pledge, and free from control by the creditors of any such beneficiary. ITEM SIX: I appoint my son, JOEY L. MORRISON, SR., executor of this my Last Will and Testament. Should my said executor fail to survive me or for any reason fail to qualify as executor, then I appoint my son, ROGER L. MORRISON, executor of this my Last Will and Testament. IN WITNESS WHEREOF, I have hereunto set my hand and seal to this, my Last Will and Testament, consisting of four (4) typewritten pages, the first two (2) pages of which bear my signature in the margin for the purpose of identification, this 16"' day of July, 2007. '' ~ ~.~ '~ (SEAL) Geraldine L. Seburn Page 3 of 4 Balance of Account $59,948.77 Proposed Distribution Joey L. Morrison, Sr. Walter Stanley Morrison Jerry M. Morrison Roger L. Morrison $14,987.19 $14,987.19 $14,987.19 $14,987.19 EXHIBIT "B"