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HomeMy WebLinkAbout08-23-10r-..., ~ e _. -, FAMILY SETTLEMENT AND FINAL RELEASE ~ ~~ ~~ - IN THE ~ ~~' { ESTATE OF ROBERT M. SCHARDING ~~ ~'~' ~~ . .x'-, __ _ _ 1".~ ~.~:} ~.;. =.~. KNOW ALL MEN BY THESE PRESENTS, THAT WHEREAS..R~bert ~,°' Scharding, late of New Cumberland Borough, Cumberland County, Pe.~n~~lvania; • ; :, ;. -,; deceased, died on September 28, 2009, having first made his Last Will and Testaments -~ which was duly executed on December 1, 1998, duly recorded in Cumberland County, Perulsylvania, Estate No. 21-09-0929 WHEREAS, the said Robert M. Scharding, by the aforesaid Last Will and Testament, named Mary A. Geller as Executrix of said Last Will and Testament; a.nd WHEREAS, the said Executrix has gathered the assets of the estate of the said decedent and the assets consist of personal property for a total value of $924,3 ~ 1.81 as set forth in Exhibit "A", which is attached hereto and made a part hereof; and WHEREAS, the said Executrix has paid all debts and deductions of they estate, including the payment of inheritance tax to the Pennsylvania Department of RevF;nue, to a total amount of $81,433.40, also as set forth in the statement of the said E~;ecutrix which is attached hereto and made a part hereof, and marked Exhibit "B"; and WHEREAS, after the gathering of assets and payment of all debts and deductions by the Executrix there remains a balance for distribution in the Estate of Robert M. Scharding, of $842,918.41, as set forth more particularly in Exhibit "C" of the statement of the said Executrix, which is attached hereto and made a part hereof. NOW T THEREFORE, KNOW YE, that we, Mary A. Geller, Nancy B. Scharding, Therese J. Fisher and Eileen B. Stanley, being all of the residuary heirs under the Last Will and Testament of the said decedent and being the persons entitled to inherit under said Last Will and Testament, do hereby acknowledge that we have this day had and received from the aforesaid Executrix, in full satisfaction and payment of all sum or sums of money, legacies, bequests, and devises as are given, devised and bequeathed to us by the said Last Will and Testament, which amount we have received this day, and which is the amount set opposite our names in the table and schedule of proposed distribution in said statement attached hereto and marked Exhibit "D"; AND, we do hereby stipulate that in order to avoid the expense and time involved in the filing of.a formal account and schedule of distribution, we agree that no account is necessary and we hereby agree and consent to distribution being made without thf; filing of an account and schedule of distribution, the same to be with the same force and effect as if it had been filed and confirmed by the Orphans' Court Division of the Court of Common Pleas of Cumberland County. ~~ THEREFORE, we do hereby remise, release, quitclaim and forever discharge the said Executrix, her heirs, executors, administrators and assigns, of and from the said estate and from all actions, suits, payments, accounts, reckonings, claims and demands whatsoever, touching upon the estate of said decedent, and we do further hereby covenant and agree that we will contribute our share of the estate to satisfy any and all claims, demands, suits, or causes of action which may be successfully prosecuted against the said estate or the aforesaid Executrix after the signing, sealing and delivery of this family settlement agreement and final release. FURTHER, we, the beneficiaries, do hereby release, forever discharge and hold harmless Counsel, and his predecessors, successors, affiliates, assigns, either in the course of their employment or as individuals outside the course and scope of their employment or in any other capacity, as and from any and all actions, and causes of action, claims, demands, damages, attorneys' fees, costs, loss of services, c;xpenses, compensation, suits, debts, documents, bonds, covenants, contracts, agreements and judgments of whatsoever kind, at law or in equity, on account of, or in any way growing out of Counsel's representation of the Executrix and the Estate of the Decedent. Each Beneficiary further agrees and covenants that, neither they, nor any othel• person, organization or other entity on their behalf will file, charge, claim, sue or cause to permit to be filed, charged or claimed any action for damages, injunctive, declaratory, monetary relief, equitable relief, or otherwise against Counsel, and its predecessors, successors, affiliates, parents, subsidiaries, assigns, agents, directors, officers, partners, attorneys, employees and insurers involving any matter arising from Counsel's representation of Executrix and the Estate of the Decedent. (This space left intentionally blank) 2 IN WITNESS WHEREOF, I have hereunto set my hand and seal this ~? G-~ay of July, 2010. WITNESS: ~~ ~~ s ,~ ~~~ Mary A. ,~ eller, ExecutrixBeneficiary STATE OF ILLINOIS COUNTY OF Cop ~_ SS. On this ~ G~-day of July, 2010, before me, the undersigned officer, personally appeared Mary A. Geller, individually, and known to me (or satisfactorily proven) to be the individual whose name is subscribed to the foregoing instrument, and acknowledged that she executed the same for the purposes therein contained. Public OFFICIAL SEAL SHANNON B. KUEHN NOTARY PU611C, STATE OF ILLINOIS MY COMMISSfON EXPIRES 3.13-2011 3 IN WITNESS WHEREOF I have hereunto set m hand and seal this l,J ~ d y y -r- of August, 2010. WITNESS ~~~~~ .~. (,~,~9/L(' f, ~ _ '~ Nanc B. Sc arding, Beneficia STATE OF PENNSYLVANIA COUNTY OF CUMBERLANll SS. On this ~ ~ ~ day of August, 2010, before me, the undersigned officer, personally appeared Nancy B. Seharding, individually, and known to ine (or satisfactorily proven) to be the individual whose name is subscribed to the foregoing instrument, and acknowledged that she executed the same for the purposes therein contained. ±1 1" Nota Public COMMONVti{EALTH OF PENNSYLVANIA NOTARIAL SEAL STEPHANIE M. RIDER, Notary Public Camp ~-lill Boro., Cumberland County M Commes~ion Eac~res November 19, 2013 4 IN WITNESS WHEREOF, I have hereunto set my hand and seal this f ~~ ~ day of August, 2010. WITNESS: STATE OF PENNSYLVANIA COUNTY OF CUMBERLAND erese J. Fish . , Be iciary SS. On this ~~ f~ day of August, 2010, before me, the undersigned officer, personally appeared Therese J. Fisher, individually, and known to me (or satisfactorily proven) to be the individual whose name is subscribed to the foregoing instrumE;nt, and acknowledged that she executed the same for the purposes therein contained. ~,~ ~,' Not y Public COMMONWEALTH OF PENNSYLVANIA NOTARIAL SEAL STEPHANIE M. RIDER, Notary Public Camp Dill Bora., Cumber{and County M C©mmissicn E~cpires November 19, 2013 ~..... _... _ ......,.. ~......... ~.... _.. _ e,. 5 ~'1 IN WITNESS WHEREOF, I have hereunto set my hand and seal this ~_~' day of August, 2010. WITNESS Fileen B. Stan cy, encfieiary STATE OF PENNSYLVANIA _ SS. COUNTY OF (,(,.(. ~ ~~J~ ' On this ~ 3~ day of August, 2010, before me, the undersigned officer, personally appeared Eileen B. Stanley, individually, and known to me (or satisfactorily proven) to be the individual whose name is subscribed to the foregoing instrument, and acknowledged that she executed the same for the purposes therein contained. ~ _ Notar Public CAMMQNW~~4~.Tf"# O~F_,,, P~NN'I!SYL.VANIA NOTARIAL SEAL STEPI-~r~NIE M. RIDER, Notary Public Ca~~;,; ~_~II ~3oro., Cumberland County M Corr~riission Expire. November 19, 2013 6 FIRST AND FINAL ACCOUNT OF THE ESTATE OF ROBERT M. SCHARDING, LATE OF NEW CUMBERLAND BOROUGH, CUMBERLAND COUNTY, PENNSYLVANIA DEBITS Your Accountant charges herself with the following: Personal Property Value Federal Reserve Bank -United States Treasury Bill #1300-04404934 Proceeds $ 24,953.61 Federal Reserve Bank -United States Treasury Bill #1300-04404934 Proceeds $ 24,938.45 PNC Investment Account #81617073 $ 10,570.30 US Savings Bond $25 Series E Q6480716275E Issued 06/1980 $ 107.41 US Savings Bond $25 Series E Q640868 ] 025E Issued 0611980 $ 107.41 US Savings Bond $25 Series E Q6408681024E Issued 06/1980 $ 107.41 US Savings Bond $25 Series E Q6408664174E Issued 05/1980 $ 107.41 US Savings Bond $25 Series E Q6396997634E Issued 05/1980 $ 107.41 US Savings Bond $25 Series E Q6396973640E Issued 05/1980 $ 107.41 US Savings Bond $25 Series E Q6396973641E Issued 05/1980 $ 107.41 US Savings Bond $25 Series E Q6396858007E Issued 04/1980 $ 108.45 US Savings Bond $25 Series E Q6402389498E Issued 04/1980 $ 108.45 US Savings Bond $25 Series E Q6402385953E Issued 03/1980 $ 108.45 US Savings Bond $25 Series E Q6402385952E Issued 03/1980 $ 108.45 US Savings Bond $25 Series E Q6402374486E Issued 03/1980 $ 108.45 US Savings Bond $25 Series E Q6402368658E Issued 02/1980 $ 108.45 US Savings Bond $25 Series E Q6390222532E Issued 02/1979 $ 108.28 US Savings Bond $25 Series E Q6390222531 E Issued 0211980 $ 108.45 US Savings Bond $2S Series E Q6390216685E Issued 01/1980 $ 108.45 US Savings Bond $ZS Series E Q6390204620E Issued 01/1980 $ 108.45 US Savings Bond $25 Series E Q6387958771E Issued 12/1979 $ 108.45 US Savings Bond $25 Series E Q6387958770E Issued 12/1979 $ 108.45 US Savings Bond $25 Series E Q6387946702E Issued 12/1979 $ 108.45 US Savings Bond $25 Series E Q638740077E Issued 12/1979 $ 108.45 US Savings Bond $25 Series E Q6379543304E Issued 11/1979 $ 108.45 US Savings Bond $25 Series E Q6379543305E Issued 11/1979 $ 108.45 US Savings Bond $25 Series E Q6379536732E Issued 11/1979 $ 108.45 US Savings Bond $25 Series E Q6379524573E Issued 10/1979 $ 109.59 US Savings Bond $25 Series E Q6379518064E Issued 10/1979 $ 109.59 US Savings Bond $25 Series E Q6361806875E Issued 10/1979 $ 109.59 EXHIBIT A US Savings Bond $25 Series E Q6361806874E Issued 10/1979 $ 109.59 tjS Savings Bond $25 Series E Q6369009877E lssued 09%1979 $ 109.59 US Savings Bond $25 Series E Q6369003061 E Issued 08/1979 $ 109.59 US Savings Bond $25 Series E Q6368990055E Issued 08/1979 $ 109.59 US Savings Bond $25 Series E Q6368990056E Issued 08/1979 $ 109.59 US Savings Bond $25 Series E Q6361741196E Issued 07/1979 $ 109.59 US Savings Bond $25 Series E Q635132851 lE Issued 07/1979 $ 109.59 PNC -Checking Account #51-4025-9631 $ 5,672.38 Members 1st FCU -Certificate of Deposit -Acct. #15077-43 $ 3,644.67 PNC -Money Market Acct. #50-0196-9019 $ 18,152.12 Metro Bank - 50 Plus Checking Acct. #513207118 $ 96.42 Members 1st FCU -Checking Acct. #15077-11 $ 237.41 Members 1st FCU -Investment Savings Acct. #15077-05 $ 4,()94.78 Verizon -Refund for Telephone Service $ 29.51 Members 1st FCU Savings Account #15077-00 $ 1,162.23 Members 1st FCU Life Savings Account #15077-04 $ 4,001.48 Vanguard -Revocable Trust Acct. #9925923030 $ 176,143.67 Edward Jones -Revocable Trust Acct. #95 7-09961 $ 117,3 5 5.84 Fidelity Revocable Trust Acct. #X47-226211 $ 477,924.17 Vanguard -IRA -Acct. #985363574 $ 31,026.80 Internal Revenue Service - 2009 Federal Tax Refund $ 1,205.00 Conseco -Refund for Nursing Care $ 7,961.60 Miscellaneous Refund from Sale of Home $ 408.75 Earnings During Estate Administration $ 11,081.37 TOTAL PRINCIPAL DEBITS $ !24,351.81 EXHIBIT A CREDITS Your Accountant asks credit for payments made from Principal Account as follows: Description Amount Parthemore Funeral Home -Funeral Service $ 11,312.87 Rolling Green Cemetery -Cemetery Plot/Burial Fees $ 4,835.00 Royers Flowers -Funeral Floral Arrangement $ 510.86 Rolling Green Cemetery -Headstone $ 2,538.00 St. Theresa Parish -Funeral Mass Donation $ 500.00 Law Offices of Craig A. Diehl -Attorney Fees $ 13,725.33 Cumberland County Register of Wills -Letters Testamentary $ 288.00 Cumberland Law Journal -Estate Advertisement $ 75.00 Law Offices of Craig A. Diehl -Certified Mail Expense for DPW Letters $ 5.54 Law Offices of Craig A. Diehl -Overnight Fees $ 55.62 The Sentinel -Estate Advertisement $ 187.54 Dept. of Vital Statistics -Charge for Additional Death Certificates $ 71.00 Mary Geller -Reimbursement of Expenses Incurred $ 804.66 Medco -Medical Expense $ 132.11 PA Dept. of Revenue - 2009 Tax Liability $ 400.00 Alert Pharmacy Service -Medication Expense $ 142.56 Manor Care -Final Nursing Home Bill $ 2,136.00 Cumberland County Register of Wills -Filing Fee for Family Settlement Agreem enl $ 20.00 Cumberland County Register of Wills -Filing Fee for Inheritance Tax Return $ 15.00 Register of Wills - hnheritance Tax Liability $ 37,196.42 Borough of New Cumberland -Inspection Fee $ 80.00 United States Government -Return Pension Payment Received After Death $ 4,901.89 Charitable Donation =American Lung Association $ 500.00 Charitable Donation -National Society for Prevention of Blindness $ 500.00 Charitable Donation -Salvation Army Harrisburg $ 500.00 TOTAL PRINCIPAL CREDITS ~ S 1,433.40 EXHIBIT B RECAPITULATION Principal Debits Principal Credits $ 924,351.81 $ 81,433.40 BALANCE AVAILABLE FOR DISTRIBUTION FROM ESTATE OF ROBERT M. SCHARDING $ 842,918.41 EXHIBIT C SCHEDULE OF PROPOSED DISTRIBUTION The Personal Representative proposes distribution of the Balance for Distribution to the following heirs as described: Mary A. Geller 25% $210,729.61 231 Franklin Street -Prior Distribution _-59,192.58 Glencoe, IL 60022 $1151,537.03 Nancy B. Scharding 25% $210,729.60 1105 Nanroc Drive -Prior Distribution _-59,192.58 Mechanicsburg, PA 17055 $ ]!.51,537.02 Therese J. Fisher 25% $2.10,729.60 803 Linwood Street -Prior Distribution _-59,192.58 New Cumberland, PA 17070 $1.51,537.02 Eileen B. Stanley 25% $2,10,729.60 136 Elm Road -Prior Distribution _-59,192.58 Allentown, PA 18104 $1.51,537.02 TOTAL AMOUNT DISTRIBUTED $842.918.41 EXHIBIT D CASH RECONCILIATION Bank Accounts: Minus: Attorney Fees Inheritance Tax Executrix Expenses $ 613,962.75 $ 1,050.23 $ 752.59 $ 615,765.57 $ (8,;25.23) $ (804.66) $ 605,039.26 Add: IRS Refund $ 1,205.00 $ 606,1.44.26 Minus: Other Fees To Be Paid Filing Fees $ (35.00) Attorney Expenses $ (61.16) $ 606, ]~ 48.10 Family Settlement Agreement: $ 842,918.41 Minus: IRA Distributed $ (31,Ei06.60) Prior Distribution to Family $ (200,000.00) Jointly Owned Accounts $ (1, ]~ 62.23) $ (4,001.48) $ 606, ]~ 48.10