HomeMy WebLinkAbout02-0409IN RE: ESTATE OF JEAN C. MALIN
TRUST UNDER WILL FOR THE
BENEFIT OF RACHEL
LYNN KELLEY
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
ORPHANS COURT DMSION ~ ^'
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TO THE HONORABLE KEVIN A. HESS, PRESIDENT JUDGE:
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Trustee, Sovereign Bank, successor-in-interest to Waypoint Bank, by and through its
attorneys, Williamson, Friedberg & Jones, LLC, hereby petitions this Honorable Court to
approve its resignation as Trustee of a testamentary trust established under the Last Will and
Testament of Jean C. Malin dated January 29, 1999 by and between Kimberly K. Kelly,
Executrix of the Estate of Jean C. Malin, Settlors and Waypoint Bank, Trustee, and to approve
the appointment of National Independent Trust Company as Successor Trustee and avers as
follows:
1. This petition is pursuant to 20 Pa.C.S.A. § 7765(a), Resignation of Trustee, Filing
Resignation and § 7764, Vacancy in Trusteeship, Appointment of Successor.
2. This Trust was created under Article 4 of the Will of Jean C. Malin, for the
benefit of Rachel Lynn Kelley.
3. Jean C. Malin died testate on December 5, 1999 then a resident of the state of
New Jersey, a copy of her Will is attached as Exhibit "A".
4. Her Will was duly probated in Ocean County, New Jersey on or about March 31,
2000 and a copy of the Ocean County New Jersey Surrogate's Court certification of the
admission of the Will to probate is attached hereto as Exhibit "B".
5. The testamentary trust provides for the support, maintenance, education and
medical care of Rachel Lynn Kelley, through age 21 at which time Rachel Lynn Kelley may
withdraw the entire principal and all accumulated income under Article 4 of the Will. Rachel
Lynn Kelley is currently age 13.
6. The Will appointed Harris Savings Bank as trustee of this Trust.
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7. On May 1, 2002 the Cumberland County Orphans' Court Division issued its
order, pursuant to a petition filed by Kimberly K. Kelley, the personal representative of Jean C.
Malin directing that Waypoint Bank shall serve as trustee of the Trust until further order of court.
A copy of this Order is attached as Exhibit "C".
8. The Trust provision under the Will is silent in dealing with the appointment of a
successor trustee.
9. As of June 15, 2010, the market value of all Trust assets totaled $171,974.61.
Attached hereto as Exhibit "D" is a true and correct copy of the portfolio of the Trust.
10. The situs of the Trust is Cumberland County, Pennsylvania.
11. Waypoint Bank, through corporate mergers, is now succeeded by Sovereign
Bank, which has been managing the Trust under the terms of the Trust Agreement.
Resignation of Trustee and Anaointment of Successor Trustee
12. On January 30, 2009, Sovereign Bank was acquired by Banco Santander, S.A. As
a result of that acquisition, Sovereign Bank will no longer be offering trust services.
Accordingly, Sovereign Bank is requesting permission to resign as trustee of the Trust.
13. The Trust Agreement does not identify a successor trustee or provide a method of
selecting a successor trustee but this court has taken jurisdiction of this matter in the past as
evidenced by its order referenced in paragraph 7 of this petition.
14. The Trust is/is not making distributions for Rachel Lynn Kelley's benefit at this
time.
15. National Independent Trust Company (hereinafter "NITC") of 500 East Reynolds
Drive, Ruston, LA, 71270-2821, has agreed to serve as successor trustee.
7R3/lot\word\jec\rs[ates, wills, pna's\sovereign bank samander to reliance trust m nitc\malin\petition change traatw .doc
16. NITC is an independent company, chartered by the Office of Comptroller of the
Currency as a national trust bank. It has authority to accept fiduciary appointments anywhere in
the United States. Attached hereto as Exhibit "E" is the consent of NITC, wherein it agrees to
serve as successor Trustee.
17. The replacement of the current Trustee with NITC is not inconsistent with any
material purpose of the Trust; NITC will have a Pennsylvania office located in Lehigh
County, Pennsylvania and will employ several of the current Sovereign trust office
employees to administer trusts in Pennsylvania from that location.
18. Rachel Lynn Kelley is the current beneficiary of the Trust as that term is used in
20 Pa.C.S.A. §7780.3(g) and has been notified of the proposed change in Trustee in the form
notice attached hereto as Exhibit "F". The notice has been mailed to her care of her mother, her
parent and natural guardian.
19. As Rachel Lynn Kelley is currently a 13 year old minor, she is incapable of giving
consent to the resignation of the Trustee, waiving her rights to an accounting and consenting to
the appointment of the successor Trustee under the Pennsylvania Uniform Trust Act, however,
her mother, acting as her parent and natural guardian has given her acknowledgement, waiver
and consent in the form attached hereto as Exhibit "G", on her behalf. In the event this action on
the part of her mother is deemed inadequate, then a guardian ad litem should be appointed for
these purposes.
WHEREFORE, Sovereign Bank respectfully requests this Honorable Court to enter an
Order as follows:
1. Approve the resignation of Sovereign Bank as Trustee.
7/23/10C:\wordyec4states, wills, poa's\sovereign bank Santander to aliana trust ce nite\malin\petition change trustce .doc
2. Appoint National Independent Trust Company as Trustee of the Trust
created under the Will of Jean C. Malin dated January 29, 1999.
3. Sovereign Bank be directed to deliver all Trust documents, assets and
related materials within thirty (30) days after the date of the Order to
National Independent Trust Company or its designated agent; and
4. Such other relief as the Court may deem appropriate.
Respectfully Submitted,
WILLIAMSON, FRIEDBERG &/, ~NES, LLC
BY:
James E. ossen, III, squire
Attorney .D. No. 7057
e-mail: jcrossen(a,w~law.net
Richard J. Wiest, Esquire
Attorney I.D. No. 40495
e-mail: rwiest@wfjlaw.raet
Attorneys for Petitioner
Ten Westwood Road
Pottsville, PA 17901
Phone: (570) 622-5933; Fax: (570) 622-5033
7/23/IOf.lword\jec\estates, wills, pus's\sovercign bank santatder to reliance trust w nitc\malin\petition change trustee doc
VERIFICATION
I, Charlene Roffman, Vice President, Relationship Manager, of Sovereign Bank, verify
that the statements made in this Petition are true and correct; I understand that false statements
herein are made subject to the penalties of 18 Pa.C.S. § 4904 relating to unsworn falsification to
authorities.
SOVEREIGN BANK
Dated: -/ ~„~ 3 ~/~1
Charlene Hoffrn~~~a`
Vice President, ionship Manager
7/I/I OE\wordljec\estates, wills, poa's\sovercign bank santander to reliance trust w nilc\tnalinlpe[ition change trustee .doc
I, Richard J. Wiest, Esquire, Attorneys for the Petitioner hereby certify that the trust
document presented here as Exhibit "A" is a true and correct copy of the original trust document
and that there have been no amendments made to that document.
Certified by:
Richard J. ~Lfest, Esquire
723/IOf\word\jeclestates, wills, poa s\sovereign bmdc santandtt to reliance tout w nitc\malin\certification.doc
~sr Wi~,t a~rr~- rESTd~FNT
I, JEAN C. MAUN of 11365 7rindie Road, Carlisle, Cumberland County.
Pennsylvania 17013, do hereby make, publish and declare this to be my last will and
testament, hereby revoking all wills heretofore made by me.
1. I direct my personal representative to pay ail of my debts, funeral and
administrative expenses es soon as convenient after my decease. I direct that all
inheritance taxes imposed or payable by reason of rtry death and interest end penalties
then3on with naspect to all property, whether or not such property passes under this
Will, shall be paid by my personal representative out of my estate.
2. I authorize and empower my persona! represernative to sell any realty
andbr personaNy owned by me at my death end not specifically devised or bequeathed
herein. st public or private sale or sales and to glue good and sufficient deeds and/or
bills of sale therefor, in fee simple, as I could do if living. My representative is
i authorized and empowered to engage 1n any business in which I may tIe engaged at
my death. for such period of time after my death ae seems expedient to said
representative.
3. I give, devise and bequeath all of my estate of whatever nature and
wherever situate to Kimberly K. Kelley and RachaN Lynn Kelley, share and share alike,
the child or chYdren of any deceased tlenetkiary taking the share their par+ertt would
have taken if living.
EXHIBIT "A"
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4. If Rachael iynn Kelley is under the age of twenty-one (21) years at my
death, then the where of my estate given to her in psnwgraph three above 1 give, devise
and bequeath to be held in trust by the' hereinaRe~ mentioned trustee according M the
following terms and conditions:
The trustee, as wee as my rtpreaentative, is hereby authorized to njtain.
unconverted, any property, real or peraonat, that 1 may own at my death and shall be
under no duty to convert it into Isgal investments. The trustee shall have the power and
authority to sell, transfer, wnvey; invest and reim-est and to pay over the net income of
the trust property, to or for the use of Rechael Lynn Kelley or to accumulate it in the
sole discretion of the trustee. The trustee is also authorized and empowered to pay
over to, or for the use and benefit of Rachael Lynn Kelley such porCum of or ail of the
principal of the trust estate as in the trustee's sole discretion seems proper for her
support, maintenance, education, or medical care. My primary object is to insure the
support, maintenance, educatbn and medical care of Rachaet Lynn Kelley until she
reaches the age of iwenty~ones (21) years. When she reaches the age of twenty-one
(21) years, then whatever remains of arcorne or prinapsl of the trust estate shall be
distributed to her.
5. I nominate and appoinn Kimbery K. Keley to be the personal
representative of my estate, to senre without bond. If she cannot or does not serve.
then I appoint David L. Kelley to be the sutx~titute personal representstlve with the
saner powers and without the fUinp of any bond.
6. 1 appoint Harris Savings Bank ~ be the trustee of the trust created herein.
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7. i suggest that my personal npresentsthre rotain the services of Harold S.
Irwin. Ill, CaAlsle, Pennsylvania to the seltisment of my estate.
IN ti1tITNESS tIVHEl~EOF, I have hereunto set my hand and seal this 29'" day of
January. 1999.
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JEAN C~ ALIN
Sgned, sealed, pubNshed and declansd by ~e abova•named person as and for a
j last will and testament, in our presence, who et said person's request, in said person's
presence and in the presence of each other havo hereunto set our names as
subscribing wises.
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ACKNf~11~-LEDr3MENT ,~, t~D AFFIDAVIT
iNE, JEAN C. MALIN, OAY L. IRYVIN and HEATHER A. BAR80UR, the
testatrix and witnesses tespedively, whose names are signed to the foregoing
instrument, being first duly sworn, do hereby declare to the undersigned authority that
the testatrix a~ned and executed the instrument as her last witl and that She had signed
v-nllingly, and that she executed it as het froa and voluntary ad for the purpose herein
expressed, and that each of the wnrtessas, in the prossnce and hearing of the testatrix,
signed the will as a witness and that to the be:t of their knowledge the testatr~c was, at
that time, eighteen years of age or older, of sound mtnd and under no constraint or
undue influence.
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HEATHER A. BARdOUR
COMMONMflxALTH OP P6NNaYLVANIA :
CO(i1NTY OF CUM6ERLAND
Subscribed. sworn b and aoknolnAedped beforo me by JEAN C. AAALIN the
testatrix herein, and subscribed and sworn t0 geforo me by t3AY L. IItIMIN and
HEATHER A. BAR60UR. witnesses, this 29'"~y of January, 199!1.
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EXHIBIT "B"
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IN RE: ESTATE OF JEAN C. MALIN
TRUST UNDER WILL FOR THE
BENEFICIARY OF RACHEL
LYNN KELLEY
ORDER OF COURT
sY mAN
AND NOW, this ~ day of~prfF; 2002, upon consideration of the Petition of
Kimberly K. Kelley, personal representative of the Estate of Jean C. Malin and mother
and guardian of the minor beneficiary, Rachel Lynn Kelley, her Petition is GRANTED
and it is Ordered and Directed that Waypoint Bank shall serve as Trustee of the Trusi
Under Will of the late Jean C. Malin until further Order of Court.
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
ORPHANS COURT DIVISION
. NO. ~-~ - Q ~-- ~ C~
BY THE COURT:
151 ~-t.o-Ic~-~,~~-
p. J.
A TRUE COPY FROM RECORD
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sit my twxi etnd tta srad
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EXHIBIT "C"
TRUST STATEMENT
RACHEL LYNN KELLEY
C/O KIM KELLEY
1665 TRII~]I)LE ROAD
CARLISLE, PA 17013
III II IIIII'lllll 11 ~~I I~~I~U~I
STATEMENT PERIOD DEC 21, 2009 THROUGH JUN 15, 2010
ACCOUNT NUMBER 182ooD6326
~ ANSWERS ABOUT YOUR ACCOUNT
- ACCOUNT CHARLENE HOFFMAN
EXECUTIVE: 717-221-3857
- INVESTMENT DONNAMIEDLAR
MANAGER: 717-221-3873
ACCOUNT TTTLE
IlWESTMENT OBJ
MALIN-RACHEL
TESTAMENTARY TRUST
GROWTH
® IMPORTANT INFORMATION
PERIODIC AND YEAR TO DATE ACCOUNT SUMMARY
ACCOUNT ACTIVITY SUMMARY INCOME SUMMARY
TffiS PERIOD YEAR TO DATE THIS PERIOD YEAR TO DATE
BEG MARKET VALUE 0.00 179, 154.47 TAXABLE 275.78 275.78
INCOME 1,303.09 1,303.09 TAX EXEMPT O. DO 0.00
EXPENSES 223.00- 223.00-
DIST&WITHDRAWLS 5,795.00- 5,795.00- TOTAL 275.78 275.78
FEES 952.31- 952.31-
NETPUR&SALES 5,6G7.22 5,667.22
CONT & RECEIPTS 0. 0 0 U . 00
MISCELLANEOUS 0.00 0.00
CHG IN MARKET VALUE 171 , 974.61 7, 179.86 -
END MARKET VALUE 171, 974.61 171, 974.61
YOUR INVESTMENT PORTFOLIO PROFILE
7. 4% CASH & EQUIVALENTS 12, 735. 97
65. 3% ~ EQUITY 112, 354. 34
27. 3% ~ FIXED INCOME 46, 884. 30
100. 0°./° 'Total 171, 974. G1
EXHIBIT "D"
TRUST STATEMENT PAGE2
STATEMENT PERIOD DEC 21, 2009 THROUGH JUN 15, 2010
ACCOUNT NUMBER 1R2ooo6326
SECURITY PRICES AND INCOME PROJECTIONS SHOWN HAVE BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE.
HOWEVER, WE CANNOT GUARANTEE THEIR ACCURACY OR THAT SECURITIES CAN BE BOUGHT OR SOLD AT THESE PR1CE5.
STATEMENT OF INVESTMENT POSITION
SECTOR UNTf UNIT COST MARKET PROJECTED
INVESTMENTS BALANCE PRICE (S) BASIS (S) VALUE (S) ANNUAL INC. (S)
CASH & EQUIVALENTS
FEDERATED PRIME OBLIGATIONS 11 , 619.47 1.00 11, 6 19.47 1 I , 619.47 1.17
FUND-SS
FEDERATED GOVT OBL TAX-MGD 1, 116.50 1.00 1, 116. 50 1, 116. 50 0. 11
FUNLIINSTL SVC SHS FUNDN637
TOTAL 12, 735.97 12, 735.97 1.28
EQUITY
AMCAPF[IND-F2 1,113.45 I6. 3G 22,864.79 18,216.03 200.42
BARON SMALL CAP FUND 149.14 20. U4 3,422.54 2,988.67 0.00
DODGE&COX IIdIERNATIONAL STOCK
FUND 355.50 29.54 14,376.28 10,501.53 155.00
FEDERATED P,AVFMANN FUNDA G10.2R 4.59 3,480.72 2,801.16 4.88
FIDELTTYDiVERSIFIIiD 415.39 25.19 15, 165.41 10,463.60 144.55
INTERNATTONAL FUND
T ROWS PRICE EQUTTY INCOMEFUND 879.03 20.90 22,789.16 18,371.69 325.24
TROWE PRICE MID-CAP VALUE FUND 137.44 21.13 3,386.41 2,904.00 28.86
VANGUARD VALUE INDEX FGND 985.59 18.47 23,037.98 18,203.79 456.33
INVESTOR
VANGUARD GROWTHIIaDEXFUND 684.59 26.68 20,986.04 18,264,97 188.95
INVESTOR
VANGUARD REIT (ETF) 131.00 50.62 8,575.38 6,631.22 243.27
\+ANGUARDSMALL-CAP VALUE(ETF) 52.00 57.84 2,972.60 3,007.68 56.16
TOTAL 141,057.31 112,354.34 1,803.66
FIXED INCOME
FIDERATED TOTAL RETURN BOND FUND 4, 246.77 11.04 44, 896.22 46, 884.30 2, 142. 2l
I
TOTAL 44,896.22 46.884.30 2,142.21
ENDING BALANCE 198, 689.50 171, 974.61 3, 947. I S
ACCOUNT ACTIVITY DETAIL
SHARE INCOME PRINCB'AL BOOK
DATE TRANSACTION DESCRIPTION TRANSACTION TYPE SHARE PRICE (A CASH (S) CASH (S) PALVE (S)
BEGINNING BALANCE a. 00 0.00 0.00
12/31/2009 FEDERATED PRIME 3ECURITYRCVD a;aos.97 4,408.97
OBLIGATIONB FUND-SS
1 2/3 1 720 09 FEDERATED PRIME SECURITY RCVD 12, t l 1.52 12, 11 l . 52
OBLIGATIONB FUND-SS
12/31/2009 FEDERATED GOVT OBL TAX-MGD SECURITY RCVD 161.50 161.50
FUND-INSTL SVC SHS
FVND11637
12/31/2009 FEDERATED GOVT OBL TAX-MGD SECURITY RCVD 1,111.65 1, 111.65
FUND-INSTL SVC SHS
FUNDIt637
12/31/2009 FEDERATED TOTAL RETURN SECURITY KCVD 2.23 23.87
BOND FUNDI
1 2/3 1120 09 FEDERATED TOTAL RETURN SECURITY RCVD 165.75 1,800.00
BOND FUNDI
12/31/2009 FEDERATED TOTAL RETURN SECURITY RCVD 1,154.04 11,978.95
BOND FUNDI
12/31/2009 FEDERATED TOTAL RETURN SECURITY RCVD z, 508.90 z6, 519. os
BOND FUNDI
12/31!2009 AMCAP FUND-F2 SECURITY RCVD 10.34 224.94
TRUST STATEMENT
STATEMENT PERIOD
ACCOUNT NUMBER
ACCOUNT ACTIVITY DETAIL PAGE 3
DEC 21, 2009 THROUGH JIJN 15, 2010
1820006326
SHARE INCOME PRINCIPAL BOOK
DATE TRANSACTION DESCRIPTION TRANSACTION TYPE SHARE PRICE (S) CASH (S) CASH (S) VALUE (S)
1 213 1 /2 009 AMCAPFUND-F2 SECURITY RCVD 49.32 648.31
12(31/2009 AMCAPFUND-F2 SECURITY RCVD 79.33 1, 724.55
12/31/2009 AMCAPPUNn-FZ SECURITY RCVD 136.80 2, 537. zz
1 213 1 /2009 AMCAP FUND-F2 SECURITY RCVD 577.42 IB, 144.98
12/31/2009 BARON SMALL CAP FUND SECURITY RCVD O.ol O. IS
12/31!2009 BARON SMALLCAPFUND SECURITYKCVD o.74 17.65
12/31/2009 BARON SMALL CAP FUND SECURITY RCVD 15.40 202. 10
12/31/2009 BARON SMALL CAP FUND SECURITY RCVD 10. s2 257.35
12131!2009 BARON SMALL CAP FUN1J SECURITY RCVD 125.82 3, 033.51
12/31/2009 DODGE&COX INTERNATIONAL SECURITY RCVD 1.11 23.21
STOCK FUND
12/31/2009 DODGE & COX INTERNATIONAL SECURITY RCVD 2.32 115.22
STOCK FUND
12/31/2009 DODGE & COX INTERNATIONAL SECURITY RCVD 2.50 115.49
STOCK FUND
12/31/2009 DODGE B: COX INTERNATIONAL SECURlTYRCVD 8.45 389.91
STOCK FUND
1 2/3 112 009 DODGE & COX INTERNATIONAL SECURITY RCVD 10.76 430.33
STOCK FUND
12/31/2009 I?ODGE~COXINTERNATIONAL SECURITY RCVD 2s.os ssa.6a
STOCK FUND
12/31/2009 DODGE&COX INTERNATIONAL SECURITY RCVD 57.40 1,294.26
STOCK FUND
12/31/2009 DODGE&COX INTERNATIONAL SECURITY RCVD 297.50 13,872.29
STOCKFUND
12/31/2009 FEDERATED KAUFMANN F[JNDA SECURITY RCVD 17.06 104.08
12/31/2009 FEDERATED KAt7FMANN F'UNDA SECURITY RCVD 63.43 216.92
12/31/2009 FEDERATED KAUFMANN FUDIDA SECURITY RCVD 49.88 304.25
12!31/2009 FEDERATED IGIUFMANN FUNDA SECURITY RCVD 509.79 3,033.24
12/31/2009 FIDELITY DIVERSIFIED SECURITY RCVD 25.24 I, 029.58
INTERNATIONAL FUND
12!31/2009 FIIJELTTY DIVERSIFIED SECURITY RCVD 52.10 t, 043.01
INTERNATIONAL FUND
12/31/2009 FIDELTTY DIVERSIFIED SECURITY KCVD 360.05 13,944.84
INTERNATIONAL FUND
12/31/2009 TAOWE PRICE EQUITY INCOME
FU
D SECURITY RCVD 1.42 35.60
12/31!2009 N
T ROWS PRICE EQUITY INCOME SECURITY RCVD 19.58 473.47
12/31/2009 FUND
T ROWE PRICE EQUITY INCOME
SECURITY RCVD
23.82
596. 22
12/31/2009 FUND
TROWE PRICE EQUITY INCOME
II
SECURIT]'RCVD
46.74
760.93
12/31/2009 J
FUD
TROWE PRICE EQUITY INCOME
V
SECURITY RCVD
819.32
21,769.43
1 213 1/2 009 F
ND
VANWARD VALUE INDEXFUND
SECURITY RCVD
38.05
847.36
INVESTOR
12/31/2009 VANGUARD VALUE INDEX FUND SECURITY RCVD 85.51 1,254.63
INVESTOR
12/31/2009 VANGUARD VALUEINDEXF'UND SECURITY RCVD Sas.3o 21,501.20
INVESTOR
12/31/2009 VANGUARD GRObt'1'H INDEX FUND SECURITY RCVD 0.24 4.69
INVESTOR
12/31/2009 VANGUARD GROWTH INDEXFUND SECURITY RCVD 701.59 2t, 509.75
IN]ESTOR
12/31/2009 VANGUARD REIT (ETF) SECURITY RCVD Is.oo a9a. 37
12/31/2009 VANGUARD AEIT (ETF) SECURITY RCVD 21.00 692.97
12/31/2009 VANGUARD RETT (ETF) SECURITY RCVD 19.00 1,323.78
1 2/3 112 009 VANGUARD REIT (ET17 SECURITY RCVD 68.00 7,021.78
12/31/2009 VANGUARD SMALL-CAP VALUE SECURITY RCVD 1 .00 42.98
(ETF)
12/31/2009 VANGUARD SMALL-CAP VALUE SECURITY RCVD 3.00 123.06
(ETF)
12/31/2009 VANGUARD SMALL-CAP VALUE SECURITY RCVD 50.00 2, 923.50
~T~
TRUST STATEMENT
STATEMENT PERIOD
ACCOUNT NUMBER
ACCOUNT ACTIVITY DETAIL PAGE 4
DEC 21, 2009 THROUGH JUN 15, 2010
182oou6326
SHARE INCOME PRINCIPAL BOOK
DATE TRANSACTION DESCRIPTION TRANSACTION TYPE SIasur PRICE (S) CASH (S) CASH (S) VALUE (S)
12/31/2009 TROWE PRICE MIDCAP VALUE SECURTTY RCVD l .OS 14.39
12/31/2009 FUND
TROWE PRICE MID-CAP VALUE
SECURITY RCVD
1.53
22.38
12/31/2009 FUND
TROWE PRICE tv1ID-CAP VALUE
SECURITY RCVD
6.01
133.52
12/31/2009 Fl7ND
TROWE PRICE Ivy-CAP VALUE
SECURITY RCVD
10.92
150.38
12/31/2009 FUND
T ROWS PR1CE 1„~--cAP vALUR
SECURITY RCVD
10.56
234.75
12/31/2009 F[JND
TROWE PRICE Iv1IIJ-CAP VALUE
SECURITY RCVD
116.74
3,133.59
01/05/2010 FUND
FEDERATED KAUFMANN F[7NDA
DIVIDEND
5.44
01!0512010 FEDERATED GOVT OBL TAX-MGD DEPOSIT 5.44 1.00 5.44- 5.44
FUND-INSTL SVC SHS
F[IND#fi37
01/05/2010 FEDERATED TOTAL RETURN DIVIDEND 155.21
BOND FUPID I
01/06/2010 FEDII2ATED GOVT OBL TAX-MGD DEPOSIT 158.21 1.00 168.21- 155.21
FUND-INSTL SVC SHS
FUND#637
01/06/2010 FEDERATED PRIME DIVIDEND O. la
OBLIGATIONS FUND-SS
01106!2010 FEDRRATI:D GOVT OBL TAX-MGD DIVIDEND 0.02
FUND•INSTL SVC S1LS
F1JND#637
01/06!2010 FED]~2ATED GOVT OBL TAX-MOD DEPOSIT 0. 16 1.00 0.16- 0. 16
FUND-INSTL SVC SH5
FUND#637
Ol/12/201U NO DISBURSEMENT CODE DISBURSEMENT tas.63-
SOVFI2ESGNPRNATE WEALTH
MGMT FOR PERIOD ENDING
12/31/09
01/12/2010 FEDERATED GOVT OBL TAX-MGD WITHDRAWAL 148.63- 1.00 148.63 148.53-
FUtID-1NSTL SVC SHS
FUND#637
0 210 112 0 1 0 FEDERP.TEDPRIME DIVIDEND 0.13
OBLIGATIONS FUND-SS
02/01/2010 FHDERATEDGOVTOBLTAX-MOD DIVIDEND O.Ot
FUND-INSTL SVC SI~LS
b'UND#637
02/01/2010 FEDERATED GOVT OHL TAX-MGD DEPOSIT 0.14 1.00 0.14- 0.14
FUND-INS'IL SVC SHS
FUND#637
02!02/2010 FEDERATED GOVT OBL TAX-MGD DEPOSIT 0.01 1.00 0.01• 0.0]
FUND-INSTL svc SHS
FUND#637
02!0412010 FEDERATED PRIME DIVIDEND 0.01
OBLIGATIONS FUND-SS
02/05/2010 FEDERATED GOVT OBL TAX-MGD DEPOSIT 0.01 1.00 0.01 - 0.01
FUND-INSTL SVC SI~LS
FUND#637
02!05/2010 FEDERATED TOTAL RETURN BUY 415.85 11.00 4, 574.35- 4, 574.35
BOND FUNDI
02/05/2010 AMCAP FUND-F2 SELL 29.75 • 15.92 473.50 61 L Ol -
02/05/2010 BARON SMALL CAP FUND SELL 3.66• 15.20 66.50 54.07-
02/05/2010 DODGE & COX INTERNATIONAL SELL 52.61- 30.32 1, 595.04 2, 169.35 -
STOCKFUND
02/05/2010 FED112ATED RAUFMANN FUNDA SELL 29.88- 4.44 132.56 170.76-
02/05/2010 FIDELITY DIVERSIFIED SELL 22.00- 26.11 574.39 806.62-
INTERNATIONAL FUND
02/05/2010 T ROWE PRICE EQUITY INCOME
FUND SELL 31.86- 20.11 641.95 826.68-
02/OS/2UlU TROWEPRICEIv$0-CAP VALUE
F'UND SELL 11.47- 19.80 227.05 284.09-
TRUST STATEMENT
STATEMENT PERIOD
ACCOUNT NUMBER
ACCOUNT ACTIVITY DETAIL PAQE s
DEC 21, 2009 THROUGH JUN 15, 2010
182o0oG326
SHARE INCOME PRINCIPAL BOOK
DATE TRANSACTION DESCRIPITON TRANSACTION TYPE SHARE PRICE (S) CASH (S) CASH (S) VALUE (S)
02/05/2010 VANGUARD VALUE INDEX FUND SELL 23.27• 17.96 417.96 544.47-
INVESTOR
02/05/2010 VANGUARD GROWTH INDEX FUND SELL, 17.24- 25.85 445.53 528.34-
INVESTOR
02!05/2010 FED112ATED GOVT OBL TAX-MOD DEPOSIT 0.43 1.00 0.43- 0.43
F'UNIJ-INSTL SVC SHS
FUNDa637
02/OS/2010 FEDERATED GOVT OBL TAX-MGD WITHDRAWAL 0.01- 1.00 0.01 0.01-
FUND-INSTL5VC SHS
FLJNDa637
02/0 812 0 1 0 FEDERATED GOVT OBL TAX-MGD WITHDRAW AI. 163.59• 1.00 163.59 163.59-
FUND-INSTL SVC sH5
FVNDHG37
02!08/2010 TRUSTEE FEE TO SOVEREIGN DISBURSEMENT 163.59-
PRIVATE WEALTH MGMT FOR
THE PERIOD ENDING
mr3lnmo
02/09!2010 VANGUARD REIT (ETF) SELL 12.00- 42.06 50x.35 799.96-
02/09/2010 VANGUARD SMALL-CAP VALUE SELL 2.00- 52.44 104.77 114.43-
(ETF)
0 2109/2 0 1 0 FEDERATED GOVT OBL TAX-MGD DEPOSIT 609.12 1.00 609.12- 609.12
FUND-IN31T. SVC SHS
FI7NDa637
02/09/2010 FEDERATED TOTAL RETURN DIVIDEND 166.18
BOND FUNDI
0 2/09120 1 0 FEDERATED GOVT OHL TAX-MGD DEPOSIT 166.18 1.00 166.18- 166.18
FIJAID-INSTL SVC SHs
FUNDa637
02/10/2010 FEDERATED GOVT OBL TAX-MGD WITHDRAWAL 75.00- 1.00 75.00 75.00-
FUND-INSTL5VC SHS
FUNDa637
0211 0 /2 0 1 0 NO DISBURSEMENT CODE BIBLE DISBURSEMENT 75.00-
BAPTIST SCHGOL RACHAEL
KELLEY FEE FOR SCHOOL PER
REQUEST ON 2/9n010
02!26/2010 FEDERATED PRIME DIVIDEND o. 13
OBLIGATIONS FUND-SS
02/26/2010 FEDI72ATED GOVT OBL TAX-MGD DIVIDEND 0.01
FUND-INSTL SVC sHs
FUNDa637
03/01/2010 FEDERATED GOVT OBL TAX-MGD DEPOSIT 0.14 1.00 0.14- 0.14
FUND-INSTL SVC SHS
FUNDa637
03/03/2010 FEDERATED TOTAL RETURN llIVIDEND 176.37
BOND FUNDI
03/04/2010 FEDERATED GOVT OBL TAX-MGD DEPOSIT 176.37 1.00 176.37- 176.37
FUND-INSTL SVC SHS
FUNDa637
03!08/2010 FEDERATED GOVT OBL TAX-MGD WITHDRAWAL ISO.04- 1.00 150.04 150.04-
FUND-INSTL SVC SHS
FCJND#637
03/08/2010 TRUSTEE FEE To SOVEREIGN DISBURSEMENT 1 so. 04-
PRIVATE WEALTH MOMT FOR
THE PERIOD ENDIi IG
oznanmo
03/15/2010 FEDERATED GO\70BL TAX-MGD WITHDRAWAL t, 258.95- 1.00 1,258.95 1,258.95-
FUND-INSTL SYC SHS
FUND#637
03/15/2010 FEDERATED PR]ME WITHDRAWAL 4,405.97- 1.00 4,406.97 4,406.97-
OHLIGATIONS FUND-SS
03/15/2010 DISTRIBUTION TO RACHEL DISBURSEMENT 5,795.00-
LYNNKELLEYRACHAELKELLEY
SUPPORT FOR ACT LESSONS IN
JULl'2010
TRUST STATEMENT PAGE 6
STATEMENT PERIOD DEC 21, 2009 THROUGH 1LJN 15, 2010
ACCOUNT NUMBER 1820006326
ACCOUNT ACTIVITY DETAII.
SHARE INCOME FRWCII'AL BOOK
DATE TRANSACTION DESCRIPTION TRANSACTION TYPE SHARE PRICE (S) CASH (S) CASH (S) VALUE (S)
03/25/2010 VANGUARD VALUE INDEXFiJND DIVIDEND 96.59
INVESTOR
03/25/2D10 VANGUARD GROWTH INDEX FUND DIVIDEND 44.50
INVESTOR
03/25/2010 FEDERATED PRIME llEPOSIT 141.09 1.00 141.09- 141.09
OBLIGATIONS FUND-SS
03/29/2070 VANGUARD SMALL-CAP VALUE DIVIDEND 1.51
(ETF)
03/29/2010 FEDERATED PRIME DEPOSIT 1.51 1.00 1.51 • L 51
OBLIGATIONS FUND-SS
03/31/2010 FEDERATED GOVT OBL TAX-MGD DEPOSIT 1,606.55 1.00 1,606.55- 1,606.55
FUND-INSTL SVC SHS
FIJNDH637
03/31/2010 FEDERATED GOVT OBL TAX-MGD WITHDRAWAL 593.14- 1.00 593.14 593.14-
FUND-INSTLSYC SHS
FTJNDN637
03/31/2010 T ROWS PRICE EQUITY INCOME DIVIDEND 79. 11
03/31/2010 FUND
FEDERATED PRIME
DEPOSIT
4, 266.37
1.00
4, 266.37-
4, 266. 37
OBLIGATIONS FUNDSS
03/31/2010 FEDERATED PRIME WITHDRAWAL 5,327.75- 1.00 5,327.73 5,327.75-
OBLIGATIONS F[JNU•SS
03/31/2010 vANGUARDREIT(ET'F) DIVIDEND as.6o
04/01/201D FEDERATED PRIME DIVIDEND 0. t2
OBLIGATIONS FUND-3S
04/Ol/201D FEDERATED GOVT OBL TAX-MGD DIVIDEND 0.01
FUND-INSTL SVC SHS
FUNDN637
04!01/2010 FEDERATED PRIME DEPOSIT 48.73 1.00 45.73- 45.73
OBLIGATIONS FUND•SS
04/05/2010 FEDERATEn TOTAL RETURN DNIDEND 177.31
soNDFDNnI
04!06/2010 FEDERATED PRIME DEPOSIT 177.31 1.00 177.31- 177.31
OBLIGATIONS FUND-SS
04/08/2010 FEDERATFA GOVT OBL TAX•MGD WITHDRAWAL 167.85• 1.00 167.68 167.88•
FUND-INSTL SVC SHS
FIJNDN637
04/08/2010 TRUBTEE FEE TO SOVEREIGN DISBURSEMENT 167. S8-
PRIVATE WEALTH MGMT FOR
THE PERIOD ENDING
03/31!2010
04/21/2010 FEDERATED PR.B.g WITHDRAWAL tab.00- 1.00 145.00 145.00•
OBLIGATIONS FSJND-SS
04/21M010 DISTRIBUTION TO DAVID DISBURSEMENT 14s.ao-
KELLEYREIMBURSEMENT TO
DAVID KELLEY FOR 2009
FEDERAL AND PA TAXES FOR
RACHAl7. KELLEY
05/03/2010 FEDERATED GOVT OBL TAX-MGD DIVIDEND O.OI
F[71JL)-INSTL SVC SHS
FiTN17l1637
0 5 /0312 0 1 0 FEDERATED PRIME DIVIDEND 0.09
OBLIGATIONS FUND-SS
05/03/2010 FEDERATED PRIME DEPOSIT o. to 1.00 0.10• 0.10
OBLIGATIONS FTJND•SS
OS/D5/2010 FEDERATED TOTAL RETURN DIVIDEND 173.38
BOND FUNDI
OS/OG/2010 FEDERATED PRIME DEPOSIT 173.38 1.00 173.38- 173.38
OBLIGATIONS FSJND-SS
OS/1D/201D FEDERATED GOVT OBL TAX-MGD WITHDRAWAL 164.82- 1.00 164.82 164.82-
FUND-INSTLSYC SHS
FUNDli637
TRUST STATEMENT PAGE 7
STATEMENT PERIOD DEC 21, 2009 THROUGH JUN 15, 2010
ACCOUNT NUMBER 7820006326
ACCOUNT ACTIVITY DETAIL
SHARE INCOME PRINCD'AL BOOK
DATE TRANSACTION DESCRD?TION TRANSACTION TYPE 3HARE PRICE ($) CASH (S) CASH ($) VALUE ($)
OS/1On010 TRUSTEE FEE TO SOVEREIGN DISBURSEMENT 1 ea. S2-
PRIVATE WEALTH MGMT FOR
THE PERIOD ENDING
04/30nO10
OG/Ol/2010 FEDERATED PRIME DIVIDEND o. 10
OBLIGATION$FUND-Sa
06!01/2010 FEDERATED GOVTOBLTAX-MGD DIVIDEND 0.01
FUND-INSTL SVC SHS
FUNDM637
OG/01/2010 FEDERATED PRASE DEPOSIT O. l l 1.00 0.11- 0.11
OBLIGATIONS FUND-SS
06/02/2010 FEDERATED TOTAL RETURN DIVIDEND 175. 10
BOND FUNDI
OG/03/2010 FEDERATED PRAIE DEPOSIT 175.]0 1.00 175.10- 175.10
OBLIGATIONS FUND-SS
06/08/2010 FEDERATED GOVT OBL TAX-MGD WITHDRAWAL 157.35- 1.00 157.35 757.35•
FUND-INSTL SVC SHS
FUNDg637
06/08/2010 TRUSTEE FEE TO SOVEREIGN DISBURSEMENT 157.35-
PRIVATE WEALTH MGMT FOR
THE PERIOD ENDING
os/31no1o
OG/15n010 NET TRANSFERS FOR TILE NET TRANSFERS 0.00 0.00 6: ooo. oo- 6, ooo. 00 0.00
PERIOD
ENDING BALANCE o. 00 0. oo I99, zs4. Is
TRUST STATEMENT
STATEMENT PERIOD DEC 21, 2009 THROUGH JUN 15, 2010
ACCOUNT NUMBER 1820006326
IMPORTANT MESSAGE
Secwity Pdcea & Income Projectlons
SecuriTy prices and income projections shown have been obtained from sources believed to be reliable.
However, we cannot guarantee their accurary or Utat securities cm be bought or sold a[ these prices.
'rransactlon Disclosure Statetnettt
Under Pennsylvania law (20 Pa.C.S.section 7785 a challenge to a transaction disclosed in this report, or a claim for
breach of trust based on a transaction disclosed in this report, maybe haired if the trustee is not notified of the objection
within the time period specified in the statute. !f you have any questions, please consuh with your attomry.
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY
ORPHANS' COURT DIVISION
In Re: No.
Estate of Jean C. Malin
Trust Under Will for the
Benefit of Rachel Lynn Kelley
CONSENT TO SERVE AS SUCCESSOR TRUSTEE
National Independent Trust Company, by its duly authorized undersigned officer,
hereby agrees to serve as Successor Trustee of the trust established pursuant to the Last
Will and Testament of Jean C. Malin, dated January 29, 1999, known as the Jean C.
Malin Trust Under Will for the Benefit of Rachel Lynn Kelley
NATIONAL INDEPENDENT TRUST COMPANY
BY:
Lucius D. cGehee, Jr., President
Dated: ~~ ~• ~.~
EXHIBIT "E"
NOTICE OF CHANGE IN TRUSTEESHIP OF THE
JEAN C. MALIN TRUST UNDER WILL FOR THE BENEFICIARY OF RACHEL
LYNN KELLEY AND SOVEREIGN BANK (SUCCESSOR TO WAYPOINT BANK)
PURSUANT TO 20. PA.C.S. § 7780.3(8)
This notice is given pursuant to a trustee's duty to inform and report under
Pennsylvania's Uniform Trust Act, 20 Pa.C.S. § 7780.3(8), which states that the trustee of a trust
shall give the following notice to the current beneficiaries of the trust each time there is a change
in trusteeship.
Kimberly K. Kelley, Executrix of The Estate of Jean C. Malin entered into a Trust
Agreement with Harris Savings Bank as Trustee. Harris Savings was succeeded by Waypoint
Bank by Order of Court dated May 1, 2002. Waypoint Bank is succeeded by Sovereign Bank as
Trustee through various merges. Sovereign Bank will resign from its position as trustee on court
approval of a change in trusteeship. National Independent Trust Company is the proposed
successor trustee.
To: Rachel Lynn Kelley, Current Beneficiary
c/o Kimberly K. Kelley
1665 Trindle Road
Carlisle, PA 17013
From: James E. Crossen, III, Attorney for Sovereign Bank
Ten Westwood Road, PO Box 1190
Pottsville, PA 17901
Resigning trustee: Sovereign Bank
235 North Second Street
Harrisburg, PA 17101
Phone: 717-221-3857
Fax:717-236-6901
Proposed successor trustee: National Independent Trust Company
500 East Reynolds Drive
Ruston, LA 71270-2821
318-251-5851
You, as beneficiary of the above named trust, have the right to receive a copy of Trust
Agreement by contacting the trustee at the address or telephone number listed in this notice.
You, as beneficiary of the above named trust, have the right to receive, at least annually,
a written report of the trusts' assets and their market values if feasible, the trusts' liabilities, and
the trusts' receipts and disbursements since the date of the last such report by contacting the
trustee at the address or telephone number listed in this notice.
Date of notice:
EXHIBIT "F"
7/2J/ Wf.\word\jedesteles, wills, poa i\SOVereign bank sentanda to reliance trust w nitc\malin\pelilion change [rusle<.doc
ACKNOWLEDGEMENT WAIVER AND CONSENT
I, KllvIBERLY K. KELLEY, Parent and Natural Guardian of RACHEL LYNN
KELLEY, on her behalf hereby acknowledge receipt of notice of the proposed change of
Trustee, I hereby waive the requirement of any accounting to be filed at this time and I consent
to the appointment of NITC as a successor Trustee.
r
KTNfB Y K. L
EXHIBIT "G"
7!1lIOE\wwdyac[e9acen, villa, pnaS\sorae(gn Sank aennadv to retiana vaa[ co nitckrelia\xk[wwledgement waivcrand w[aencdoc
,JUL ~ b tu~0 ~
IN RE: ESTATE OF JEAN C. MALIN
TRUST UNDER WILL FOR THE
BENEFICIARY OF RACHEL
LYNN KELLEY
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
ORPHANS COURT DNISION
N0.21-02-409
ORDER OF COURT
HESS, P.J.
AND NOW, this -9, day of ~ , 2010, at _ m., upon
consideration of the Trustee's Petition for Change of Trustee and noting the resignation of trustee
and the acceptance of a successor trustee attached thereto, it is ORDERED AND DECREED
pursuant to 20 Pa.C.S.A. §7765(a) that the resignation of Sovereign Bank as trustee of the Estate
of Jean C. Malin Trust under Will for the Beneficiary of Rachel Lynn Kelley is APPROVED;
and that pursuant to 20 Pa.C.S.A. §7764(c)(3) National Independent Trust Company is appointed
as Successor Trustee.
It is further ORDERED AND DECREED pursuant to 20 Pa.C.S.A. §7765(d) Sovereign
Bank shall remain liable for its prior administration of the trust.
>o
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7!3}/ I UE;word\iei:esmtee, wills, p+;i s~so~ercign bank santauder to naimu;e tmst co nilclnulinWrder of courrdoc
BY THE COURT':
ORPHANS' COURT DIVISION
COURT OF COMMON PLEAS OF
In Re: ESTATE OF JEAN C MALIN CUMBERLAND COUNTY
PENNSYLVANIA
NO. 02-0409
CERTIFICATE OF SERVICE OF ORDER
ORDER DATE: 08/09/10
JUDGE'S INITIALS: KAH
TIME STAMP DATE: 08/09/10
IN RE: ORDER OF COURT
SERVICE TO: RICHARD J WIEST
SOVEREIGN BANK
METHOD OF MAILING:
® USPS
^ RRR
^ HAND DELIVERED
^ OTHER
MAILED: 08/09/10
ENVELOPES PROVIDED BY:
® PETITIONER
^ JUDGE
^ CLERK OF ORPHANS COURT
SERVICE TO:
METHOD OF MAILING:
^ USPS
^ RRR
^ HAND DELIVERED
^ OTHER
MAILED:
ENVELOPES PROVIDED BY:
^ PETITIONER
^ JUDGE
^ CLERK OF ORPHANS COURT