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Home My WebLink About01-25-11ORPHANS' COURT DIVISION COURT OF COMMON PLEAS OF CUMBERLAND COUNTY -_, Estate of Anton C. Love, Deceased No. 21-09-1107 -T' . -- ~ _, ~ '~' __~ --~ -~ n~. r ~. _.._._ r~ .. -. ; ,~ .-..r_ _.,.,..,~ .~ ..._ _ ~ _~ } ~ i : _! 1 FAMILY SETTLEMENT AND FINAL RELEASE C _' __~ - _ ~ -~ FOR THE ~, ESTATE OF ANTON C. LOVE, DECEASED ~;, - .:.~ ~ ~. KNOW ALL MEN BY THESE PRESENTS, that WHEREAS, Anton C. Love, late of Camp Hill Borough, Cumberland County, Pennsylvania, deceased, died testate on November 14, 2009, having first made his Last Will and Testament, which was duly executed on May 29, 2008, and is duly recorded in the Cumberland County, Register of Wills Office at File Number 21-09-1107; WHEREAS, the said Testatrix, by the aforesaid Will, named Margaret Kraus, as Executrix of his Last Will and Testament; WHEREAS, Letters Testamentary on the estate of the said decedent were duly issued by the Register of Wills of Cumberland County, Pennsylvania, on November 30, 2009; WHEREAS, the Executrix has gathered the assets of the estate of the decedent and the assets consist of personal property, with a total value of $470,176.10 as set forth in Exhibit "A", which is a statement of account of said Executrix, and which is attached hereto and made a part hereof, and marked as Exhibit "A"; WHEREAS, the debts and deductions, including the payment of inheritance tax on the said estate, amount to $82,086.73, as set forth on Exhibit "B" attached hereto; leaving a balance for distribution of $288,113.37 from which the Executrix will/has: (i) withhold $1,000.00 for payment of final attorney's fees, (ii) withhold $1,000.00 for payment of fiduciary taxes and any other proper expenses or liabilities of the estate of which the Executrix shall have received notice by that time, or which may otherwise be payable, (iii) advanced funds to beneficiaries and specific bequest in the amount of $152,000.00; and (iv) income earned in the amount of $4,082.84; and (v) distribute to the beneficiaries, in the proportion of their interests and without further accounting, the balance then remaining of $23 5,272.66 available for distribution, as set forth in the statement of the said Executrix, which is attached hereto and labeled "Recapitulation". Such distribution will also include any funds received by the Executrix subsequent to the date to which the attached Account is stated. Should any proper liabilities of the estate, whether for taxes or otherwise, arise or come to the attention of the Executrix or any of the other parties thereafter, the beneficiaries agree to be jointly and severally liable thereof; WHEREAS, in accordance with the decedent's Will, each beneficiary is to receive one half (1/2) of the decedent's interest in the estate; WHEREAS, the parties hereto agree that the remaining balance of the estate assets shall be distributed as set forth in the Schedule of Distribution, a copy of which is attached hereto as Exhibit "C" and made a part hereof, including distribution of all legacies and devises as therein set forth. Without intending to limit the rights or remedies of the Executrix the parties further agree to indemnify the Executrix and save her harmless against all liability, loss, and expenses, including, but not limited to, costs and counsel fees which she may incur, whether due to her negligence or otherwise, as a result of making the above described distributions without a court audit; NOW, THEREFORE, we, Mary Kelly and Margaret Kraus, being the beneficiaries of the said decedent, and being those persons entitled to inherit under said Will, do hereby each of us, acknowledge that we have this day 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 each of us respectively by the said Last Will and Testament, the amounts due us under said Will, which amounts we have received this day, and which amounts are in the amount set opposite our respective names in the table and schedule of distribution in said statement attached hereto and marked Exhibit "C"; 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 Common Pleas, Cumberland County, Pennsylvania. THEREFORE, we and each of us, do hereby remise, release, quitclaim and forever discharge the said Executrix, heirs, Executrix's and administrators and assigns, of and form the said estate and from all actions, suits, payments, accounts, reckoning, 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 that should any liability come due to the estate of the said decedent after the signing of this Agreement, we and each of us do hereby covenant and agree with each other and the aforesaid Executrix, that we will contribute pro-rata, 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. This Family Settlement Agreement and Final Release may be executed in any number of counterparts and each such counterpart shall be deemed to be an original, but all such counterparts together shall constitute but one Agreement IN WITNESS WHEREOF we have hereunto set our hands and seals this 2~ day of ~~~'`~~ ~~` , 2010. WITNESS: . J r ~" r / t 1 ~~ SEAL ~ ) Ma ret Kraus ~ ~ ~ SEAL) 1V~ary elly STATE OF SS. COUNTY OF (.~ f; e On this, the ~ ~ ~ day of UJ P/11 ~r , 20l 0, before me, a Notary Public, the undersigned officer, personally appeared Mary Kelly, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that she executed the same for the purpose therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. .r~ of r~va~~a .~~~ ~~~ s~ Notary Public STATE OF '~ ~ yi ~ bIL1C SS. COUNTY OF NEW ~~aR-K- . On this, the ~ ~ D day of ~ ~ ~ ~? T3.E~- , 2010, before me, a Notary Public, the undersigned officer, personally appeared Margaret Kraus, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that she executed the same for the purpose therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ~u . Notary Public LINDA VEGA Notary Public, State of New York No. 39-499-2892 Qualified in Bronx County Commission Expires March 2, za/ RECAPITULATION Decedent's Assets $ 470,176.10 Decedent's Liabilities/Probate Expenses - $ 82,162.73 $ 388,013.37 Reserve held in Estate Account for payment of remaining attorney's fees $ 1,000.00 Reserve held in Estate Account for payment of fiduciary taxes - $ 1,000.00 AMOUNT FOR DISTRIBUTION $ 386,013.37 Funds Advanced under Specific Bequest Edith Caswell $ 20,000.00 Teri Menamin $ 3,000.00 Eileen Ottaviano $ 3,000.00 David Kernan $ 3,000.00 Church of The Good Shepherd $ 2,000.00 Horace Mellott $ 1,000.00 Funds Advanced to Beneficiaries Margaret Kraus $ 60,000.00 Mary Kelley - $ 60,000.00 Estimated Change in Value - $ 2,823.55 Estimated Income Earned + $ 4,082.84 AMOUNT AVAILABLE FOR DISTRIBUTION $235,272.66 Exhibit "A" ASSETS 221 North 36th Street, Camp Hill, Pennsylvania Members 1St Federal Credit Union Accounts Wachovia Bank Checking Wachovia Bank Checking PPL Stock (2,018) as of 10/31/10 TOTAL ASSETS $163,598.48 $146,689.57 $ 77,903.75 $ 27,780.92 $ 54,203.48 $470,176.10 **** PPL STOCK WILL REMAIN STOCK AND THE SHARES WILL BE SPLIT BETWEEN MARY KELLY AND MARGARET KRAUS EACH RECEVING 1,009 SHARES.**** Exhibit "B" LIABILITIES/EXPENSES Additional Funeral Expense $ 269.13 Accountant's Fees -Sue Redmond $ 145.00 Plumbing Bill $ 197.16 Notary $ 5.00 Consumer Cellular $ 25.03 Snow and Lawn Care -Jeffrey Lauver $ 487.00 Electric - PPL $ 1,372.87 Sewer & Trash -Hampden Township $ 255.75 Medical Bill -Milton S. Hershey Medical Center $ 600.00 Home Repairs, Painting, and supplies -Lynn Brooks $ 1,470.96 Flooring for home - Lowe's $ 2,331.02 Water - PA American Water $ 110.05 Floor Deposit and Dinner -Lou Kraus $ 255.35 Phone - Verizon $ 52.38 Furniture Removal -Skip's Hauling Service $ 150.00 Moving Assistance -Ann Cielinski $ 100.00 Checked House -Martin Anspach $ 100.00 Moving Assitance -James Gihenio $ 100.00 Painting -Tyler Brooks $ 45.00 2010 County/Twp. Real Estate Taxes -Michael Langen $ 469.13 Refund of Retirement Money - US Treasury Trash Removal -Audrey Parr Additional Probate TOTAL LIABILITIES/EXPENSES TOTAL PROBATE EXPENSES SUBTOTAL $ 277.00 $ 125.00 $ 100.00 $ 9,042.83 $ 73,119.90 $ 82,162.73 Exhibit "B" (continued) PROBATE EXPENSES Cumberland County Register of Wills Fee to Probate Will $ 404.00 Register of Wills, Agent Pennsylvania Inheritance Tax $ 69,820.90 Reager & Adler, PC Attorney's Fees/Cost $ 2,895.00 TOTAL PROBATE EXPENSES $ 73,119.90 Exhibit "C" SCHEDULE OF DISTRIBUTION Margaret R. Kraus -The sum of $20,000.00 was distributed on March 15, 2010 and the sum of $40,000.00 was distributed on August 10, 2010. PPL stock will remain stock and 1,009 shares will remain in the name of Margaret R. Kraus, along with 8,708.217 shares of SSSGX. The remaining sum of $10,374.02 was disbursed. Mary Kelly -The sum of $20,000.00 was distributed on March 15, 2010 and the sum of $40,000.00 was distributed on August 10, 2010. PPL stock will remain stock and 1,009, shares will remain in the name of Mary Kelly, along with 8,708.216 shares of SSSGX. The remaining sum of $10,374.01 was disbursed.