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HomeMy WebLinkAbout08-06-10y` C ;n~ii,~~G~(~~ n..~ n ~ ..__ ~~ ~~ -,~, ~ =J "t' 1~ "-~ .,`~ ~,. FAMILY SETTLEMENT AGREEMENT ~ ~ " ~ ._! J ~ IN THE ESTATE OF LYNN W. NEGLEY DECEASEDi `~ ~ ~ ~.~~ ~ _ . -. c' r~ ~` ._,.~ AGREEMENT executed this ~ ~ day of ~ ~~ s s'~ 20l_0, by anti between KELLIE L. KASK, Executrix of the Estate of LYNN W. NEGLEY, deceased, and TODD W. NEGLEY and KELLIE L. KASK, heirs and beneficiaries of the Estate of LYNN W. NEGLEY. . WHEREAS, LYNN W. NEGLEY, late of Upper Frankford Township, Cumberland County, Pennsylvania, died on February 15, 2009, having left a Last Will and Testament dated October 8, 1992. WHEREAS, on February 27, 2009, the Register of Wills in and for the County of Cumberland, Commonwealth of Pennsylvania, did constitute and appoint KELLIE L. KASK, as Executrix of the Estate of LYNN W. NEGLEY, in Estate Number 21-09-0196 upon the probating of the aforesaid Last Will and Testament, and WHEREAS, the Executrix has proceeded with the administration of said Estate consisting of assets in the amount of $139,489:96, plus non-probate assets of $164,338.24, less disbursements in the amount of $68,003.39, and less in-kind distributions of probate and non- probate assets in the amount of $164,788.24, plus adjustments of $1,123.87, leaving a principal balance on hand of $22,160.49, as set forth in the First and Final Account, a true and correct copy is attached hereto and made part hereof as Exhibit "A", and WHEREAS, the only parties in interest in said Estate are the above-named parties, and WHEREAS, said parties in interest desire that the Executrix shall not be required to file an Account with the Orphan's Court of Cumberland County, Pennsylvania, and that the net estate of the decedent shall be distributed without the necessity of filing a formal .Account to avoid the expense, delay and publicity of a formal accounting, but should instead be distributed in accordance with the Executrix's Proposed Schedule of Distribution, a true and correct copy of which is attached hereto and made a part hereof as Exhibit "B". vh NOW THEREFORE, in consideration of the mutual promises, covenants and agreements recited herein, the above-named heirs and beneficiaries of the Estate of LYNN W. NEGLEY do~ hereby mutually agree as follows: 1. The parties hereto, and each of them, agree and acknowledge that they have fully and carefully examined the First and Final Account of KELLIE L. KASK, Executrix for the Estate of LYNN W. NEGLEY, deceased, and Proposed Schedule of Distribution relating thereto, and find them to be true and correct, and acceptable to the parties hereto and each of them, and further that each of them has received a copy of this Family Settlement and Final Release and of said Account and Proposed Schedule of Distribution. 2. The parties hereto hereby agree that in order to avoid the expense, delay and publicity involved in the filing of a formal Account and Schedule of Distribution, no accounting to the Court 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 Orphan's Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania. 3. The parties hereby remise, release, quitclaim and forever discharge the Estate of LYNN W. NEGLEY, and KELLIE L. KASK, Executrix, her heirs, Executors, administrators and assigns, from all manner of .acts, suits, claims, accountings, debts and demands whatsoever which we or any of us or our legal representatives or assigns may at any time hereafter have against said Executrix, estate, or assets thereof, touching or concerning the Estate of the Decedent. 4. The parties hereto covenant and agree that they will contribute their share of the Estate to satisfy all claims, debts, demands, suits or cause of action which may be successfully brought against the Estate or the .Executrix after the execution of this Family Settlement and Final Release. 5. The parties hereto hereby agree that they will at all times in the future and wherever necessary, appropriate or convenient, made, execute and deliver to said Executrix, and/or to the other party or persons, any and all instruments, documents, conveyances, deeds, releases or other instruments of any kind necessary or convenient to carry out the intention of this Family Settlement and Final Release. 6. This Family Settlement and Final Release constitutes the entire understanding among the parties hereto, and each of them acknowledges that no representations or statements of any kind, written or oral, have been made to them or any of them prior hereto by the Executrix or any other person or party upon her behalf. 7. This Family Settlement and Final Release shall inure to the benefit and shall bind the parties hereto, and each of them, their heirs, Executors, administrators, successors and assigns. 8. This Family Settlement and Final Release shall be governed by the laws of the Commonwealth of Pennsylvania. IN WITNESS WHEREOF, the parties hereto have hereunto set their respective hands and seals the day and year first above written. WIT SETH: ~ ~ ~( Date L L. KA K ~`" Execut 'x /. ~S' ~ t Date L L. K Individually as heir and beneficiary Date TODD W. NEGLEY Individually as heir and beneficiary FIRST AND FINAL ACCOUNT OF KELLIE L. KASK, EXECUTRIX OF THE ESTATE OF LYNN W. NEGLEY, Deceased Date of Death: February 15, 2009 Date of Executrix' Appointment February 27, 2009 Accounting for the Period of February 27, 2009 to June , 2010 Purpose of Account: KELLIE L. KASK, Executrix of the Estate of LYNN W. NEGLEY, offers this Account to acquaint interested parties with the transactions that have occurred during her administration of the Estate for the accounting period indicated above. The Account also indicates the proposed distribution of the Estate. It is important that the Account be carefully examined. Request for additional information or questions or objections can be discussed with: Bradley L. Griffie, Esquire GRIFFIE & ASSOCIATES 200 North Hanover Street Carlisle, PA 17013 (717) 243 -5551 100 Lincoln Way East, Suite D Chambersburg, PA 17201 (717) 267-1350 (800) 347-5552 SUMMARY OF ACCOUNT Principal -Total Assets $304,952.07 (including non-probate assets) Less Disbursements of Principal (-) $68,003.34 Non-probate assets previously distributed (-) 164,788.24 Interim Disbursement of Heirs (-) $50,000.00 TOTAL Cash Available for Distribution $22,160.49 Exhibit "A" RECEIPTS OF PRINCIPAL REAL ESTATE NONE STOCKS and BONDS 1. Prudential Stocks (Computershare) Account No. 0012402511 .........................$948.78 SUBTOTAL ........................................................$948.78 CASH and BANK ACCOUNTS 1. Pennsylvania State Employees Credit Union Account No. 8953687137 .........................$9.10 2. F&M Trust Checking Account No. 33-16130 ............................ $4,580.46 3. Susquehanna Valley Federal Credit Union.....$346.05 4. Final pension distribution .........................$1,500.00 SUBTOTAL ......................................................... $6,435.61 PERSONAL PROPERTY 1. 2008 Chevrolet Impala ....................................... $11,750.00 2. Personal Property (auctioned) ............................... $6,212.50 3. 1982 Honda CT 110 Trail Motorcycle ...............$450.00 4. Modular Home, 32 Crandle Drive, Carlisle.......$111,000.00 SUBTOTAL ................................................ $129,412.50 ADDITIONAL RECEIPTS 1. Eric Insurance Exchange Refund .............$153.00 2. Prudential Dividends .......................... $26.25 3. AARP Dental Insurance Refund............$180.44 4. Progressive Insurance Refund ............... $22.00 5. Pennsylvania Fire Police Association......$300.00 6. Embarq Refund ................................ $10.17 7. Lowe's charge refund ........................ $20.44 8. Discover charge refund .......................$73.75 9. Vacation deposit refund ......................$185.00 10. Real estate Tax pro-ration ...................$1,158.02 11. Credit for pro-rated November rent..........$175.00 12. Erie Insurance refund ......... ................$39.00 13. Security deposit refund ........................$350.00 SUBTOTAL ......................................................... 2 693.07 TOTAL PRINCIPAL of probate Estate before adjustments...........$139,489.96 NON-PROBATE ASSETS ATTRIBUTABLE TO ESTATE 1. Orrstown Financial ..............................$164,338.24 IRA Account Number 14 00 1560 010 SUBTOTAL ......................................... ....................... $164,338.24 GAINS AND LOSSES ON SALES AND OTHER DISTRIBUTIONS GAINS: 1. Prudential Stocks .............................. $1,123.87 Account Number 0012402511 SUBTOTAL ...................................................................$1,123.87 T !1 ['~ [~ T C _ NONE Total principal of Estate with all adjustments ...........................$304,952.07 DISBURSEMENTS OF PRINCIPAL F&M Trust Account No. 11-15561 DEBTS OF DECEDENT 1. Auto loan payment to PSECU ...........................$336.13 2. Adams Electric Cooperative ..... .........................$46.00 3. Embarq .............................. ..........................$83.42 4. AT&T ............................... .......................... $47.22 5. Suburban Energy Services ....... .........................$240.71 6. Department of Veterans Affairs . ..........................$55.00 7. Shirley J. Arnold, Tax Collector ............................$9.80 SUBTOTAL :...........................................$ 22,997.17 FUNERAL EXPENSES 1. Ronan Funeral Home ............................... $9,860.37 2. Westminster Cemetary ...............................$1,335.00 3. Loyal Bible Class .......................................$300.00 SUBTOTAL :............... ........................ $ 11,495.37 ADMINISTRATION EXPENSES 1. Attorney's fees to GRIFFIE & ASSOCIATES ...............$ 3,200.00 2. Personal Representative Commission .........................$ 2,000.00 3. Probate Fees ...................................................... . $ 361.00 4. 2008 Personal Tax Return Preparation ........................ $ 150.00 5. Advertising -The Sentinel ..................................... . $ 187.54 5. Advertising -The Cumberland Law Journal ................ .$ 75.00 6. Bank fees to F&M Trust ........................................ $ 26.75 7. 2008 Personal Tax Return preparation ....................... .... $ 78.95 8. Creekview Community LLC (lot rent) ........................ ...$350.00 9. Creekview Community LLC (lot rent) ........................ ...$350.00 10. Creekview Community LLC (lot rent) ...........................$350.00 11. Creekview Community LLC (lot rent) ....... ....................$350.00 12. Creekview Community LLC (lot rent) ....... ....................$350.00 13. Creekview Community LLC (lot rent) ....... ....................$350.00 14. Creekview Community LLC (lot rent) ....... ....................$350.00 15. Creekview Community LLC (lot rent) ....... ....................$350.00 16. Creekview Community LLC (lot rent) ....... ....................$350.00 17. D' Jo Flooring (home repairs) ................. ....................$250.00 18. Creekview Community LLC (home repairs) ...................$395.85 19. Auto Loan Payment to PSECU ..................................$336.13 20. Erie Insurance Group (homeowners) ......... ...................$211.00 21. Eric Insurance Group (homeowners) ......... ...................$107.00 22. Suburban Energy Services ..................... ...................$215.42 23. Adams Electric Cooperative ................... ....................$70.00 24. Suburban Energy Services ..................... ....................$80.27 25. Eric Insurance Group (homeowners) ......... .................. $112.00 26. Suburban Energy Services ..................... .................... $12.64 27. Adams Electric Cooperative ................... ....................$29.00 28. Adams Electric Cooperative ................... ....................$30.00 29. Suburban Energy Services ..................... ....................$12.64 30. Adams Electric Cooperative ................... ....................$31.00 31. Suburban Energy Services ..................... ......................$6.44 32. Erie Insurance Group (homeowners) ......... ..................$112.00 33. Adams Electric Cooperative ......................................$34.00 34. Adams Electric Cooperative ......................................$32.00 35. Suburban Energy Services ..................... .................. $12.64 36. Adams Electric Cooperative ......................................$33.00 37. Suburban Energy Services ..................... ...................$12.64 38. Auctioneer Expenses ........................... ...............$3,082.00 39. Settlement Fees ................................. .....................$8,078.07 (A) Realtor's Transaction Fee ................ ......$175.00 (B) Realtor's Commission .................... ......$5,550.00 (C) 2009 School Real Estate taxes .................$1,970.74 (D) 2009 County/Township Real Estate Taxes....$382.33 SUBTOTAL: TAXES Pennsylvania Inheritance Tax Less Discount SUBTOTAL: TOTAL DISBURSEMENTS OF PRINCIPAL IN KIND DISTRIBUTIONS 1. 1982 Honda CT 110 Trail ....................... 450.00 (Kellie L. Kask) SUBTOTAL: $ 22,498.23 11 012.57 $68,003.34 $450.00 NON-PROBATE ASSETS PREVIOUSLY DISTRIBUTED 1. F&M Trust checking .................................... $ 164,338.24 Account No. 33-95170 (Distributed to joint owner) SUBTOTAL: $164,338.24 INTERIM DISBURSEMENTS TO BENEFICIARIES KELLIE L. KASK ............................$25.000.00 TODD W. NEGLEY ......................... 25 000.00 TOTAL INTERRIM DISBURSEMENT AND DISTRIBUTIONS $50,000.00 $10,968.99 ~-)$ 43.58 TOTAL DISBURSEMENTS AND DISTRIBUTIONS $282,791.58 PROPOSED SCHEDULE OF DISTRIBUTION Assets for Distribution Total Principal of Estate with Adjustments...........$304,952.07 Less Total Disbursements and Distributions......... $282,791.58 Net assets available for distribution $22,160.49 Net Cash on Hand Distributed as Follows: Kellie L. Kask ...................................................................... $10,855.25 Todd W. Negley ................................................................... $11,305.24 TOTAL CASH DISBURSEMENT: $ 22,160.49 EXHIBIT "B"