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Home My WebLink About03-09-11IN RE: ESTATE OF WILLIAM R. KENNEDY, DECEASED late of South Middleton Township, Cumberland County, PA CEO ~~ ~_ ~` PT = -) ~ r=a - ~ IN THE COURT OF COMMO1'~~~5 ~ " '_' :CUMBERLAND COUNTY, PF1 :ORPHANS' COURT DIVISIO~y~ <LV?#~IIA_' ' o o -,-, ~z - - ~`-' MUTUAL RELEASE "Tt-IIS AGRI;f,MEN'T, made this ~'"~ day of ~. we~,~_ ~ Ol 1, between WAYNE 1~. SHAUF;. F;xecutor ofthe Last Will and "Testament of William R. Kennedy, Deceased (hereinafter referenced as "1/state") AND DENISE; M. THOMAS-KENNE;UY of 351 York Road. Carlisle, Cumberland County, Pennsylvania 17013 (hereinatter rcferenced as "Surviving Spouse"). WI"TNI?SSE'I'1{: WHE?REAS, the Uecedent and the Surviving Spouse were married on October 9, 1998; WE{t~RE;AS, the Uecedent died cm December 2U, 2009; WHEREAS, Letters "Testamentary in the Estate were granted on March 8, 2010, to the aforesaid Executor; WHEREAS, on March 3, 2010, the Surviving Spouse tiled an election to take against the Will of Decedent; WHEREAS, on July 30, 2010, the aforesaid Executor tiled a Petition for Declaratory Judgment to the above-captioned estate in which he requested a declaratory judgment that the Surviving Spouse had forfeited her statutory right to elect to take a share of the estate of Decedent against the Will of Decedent and such other relief as might be equitable and just; and WHEREAS, the parties wish to resolve their disputes and release and forever discharge all claims against each other in satisfaction ofall such claims. NUW, THI;RF,FORF„ the parties hereto, intending to be legally bound hereby, do covenant and agree, as follows: 1. Concurrently with execution of this Mutual Release, the Surviving Spouse will withdraw her election to take against the Will of Decedent. 2. The Surviving Spouse will retain ownership ofall personal property that is in her possession as surviving tenant by the entirety. 3. The Surviving Spouse hereby releases, generally, all of her claims against the F;statc. 4. The Estate hereby releases, generally, the Surviving Spouse from all claims against the Surviving Spouse. 5. "fhe Estate acknowledges that the Surviving Spouse is the owner ofthe real estate premises known and numbered as 351 York Road, Carlisle, Cumberland County, Pennsylvania. with improvements thereon erected, absolutely and in tee simple as surviving tenant by the entirety. -~- 6. The Surviving Spouse hereby assumes all obligations with respect to the aforesaid real estate premises and indemnities and holds the Estate harmless from all obligations with respect to the aforesaid real estate premises. 7. A copy of the lnventory that was tiled in the estate is attached hereto and incorporated herein by reference as though fully set ti~rth. The parties enter into this Mutual Release upon the basis of the representations ot'the F,state that there are no estate assets that are not set f~~rth in the lnventory. If any additional assets are discovered during administration of the estate of a combined value in the amount of $10,000 or more, including cash, with the exception of cash generated as a result of the sale of items 3, 4, and 5 in the attached Inventory, the tstate will notify counsel t~~r the Surviving Spouse who will then have the option of reopening this Mutual Release. K. In consideration of the promises ati~resaid, the Estate and the Surviving Spouse hereby remise, release and ti~rever discharge, and by this Agreement do. I~~r themselves and their respective heirs, executors, administrators. successors and assigns, release. remise and ti~rever discharge the other and the heirs, executors, administrators, successors and assigns of the other of and from any and all manner of action and actions. cause and causes of actions, suits, debts, dues, sums of money, accounts, bonds, bills, specialties, covenants, contracts, controversies. agreements, promises, variances, trespasses, damages, ,judgments, extents, executions, claims and demands whatsoever, in law or in equity, which against the other, either now has or ever had or which their respective heirs, -3- executors, administrators, successors and assigns hereafter have, shall or may have for or upon or by reason ofany matter, cause or thing whatsoever. including, but not limited to, those matters stated in this Agreement. IN WI"TNESS WHEREOF, the parties hereto set their hands and seals the day and year tirst above written. WITNESS: ESTAT'f: OF WIL[.IAM R. KENNEDY, DECEASED I 7~ By: ~ r ~~~- (SEAL) Waync~e, [:xecutor .) Denise M. "Thomas-Kennedy -4- f~l~~)E~~®~~ REGISTER Of~ WILLS UI~' CUMBERLAND CUUN'1~Y, PENNSYLVANIA CUMMUNWEAL1'1~ OF PF'NNSYI,VANIA ~ cotlN rY off CUMBERLAND ~ ss File Number 21 10 67 Personal Representative(s) of the F;state of William R_. Kennedy deceased, depose(s) and say(s) that the items appearing in the following inventory include all of the personal assets wherever situate and all of the real estate ~n the. Commonwealth of Pennsylvania of said Decedent, that the valuation placed opposite each item of said inventory represents its fair value as of the date of the decedent's death, and that Decedent owned no real estate outside of the Commonwealth of Pennsylvania except that which appears itt a memorandum at the end of this inventory. 1 verify that the statements made in this lnven- - G" tory are true•and correct. 1 understand that false state- _.~~~~ ~~.- ments herein are made subject to the penalties of '-" 18 Pa. C.S. § 4904 relating to unsworn falsification to authorities, ~ ._. Attorney -- ('Name) Wayne 1~. Shade (S'uprenre Cvur•t LD. No.) 15712 _ (Addre.s.~) 53 West Pomfret Street Carlisle PA 17013 (Telephone) 717-243-0220 - DATE OF DEATH .~_ 12/2012009 LAST RESIDENCE 351 Yotk Road Carlisle PA 17013 DECEDENT'S SOC. SEC. NO. 191-28-6584 1. House and lot of ground known and numbered as 351 York Road, Carlisle, ~ memorandum form as being a probate asset only in the event that it is determined irr ~ to declaratory judgment action that is pending herein that the widow has not forfeited )~~il~ ~~ to elect to take against the bast Will and Testament of the decedent. Where the real. ~st~t~ is only provisionally a probate asset, the estate has not expended resources to have th~••.:ac:~ value of the property appraised. In the event that it is determined in the declaratory-:-:> ~' -" judgment action that is pending herein that the widow h<cs forfeited her right to e1cc~Q-fake against the Last Will and Testament of the decedent, title to the -•eal estate will passim the widow as surviving tenant by the entirety. The real estate will not be subject to inheritance tax, and there will be rio need to determine the value. 2. Cash 3. Modified Ford pick-up truck that is commonly known as a street r•od and that has been described variously as a l 954 ot• 1955 model. 1'he value of the vehicle, under current economic; conditions, is undetermined, pending resolution of the viability of the widow's election to take against the Will. (Allnck additioan! slreels as weeder!) <: ~ ; ~ . _,., ' :;? ~ .. r~~ o , .. ., ..; { .: ~,. ,-, c-' `~' ~ ~r 27,629.50 NOl'E: The Memorandum of real estate outside the Commonwealth of Pennsylvania may, at the election of the personal representative inGude the value of each item, but such figures should not be extended into the total of the Inventory. (.See 20 Pu C..S'. ,¢ 33G!(b)) Fans HI-I'-d9 rev. l0 /,3 06 Continuation of Inventory William R. Kennedy Decedent Name 21 10 6 - Pa e ~ File Nurnbe Description of Inventory ~+. iyo i rora thunderbird with no engine or drive train. The value of the vehicle, under current economic conditions, is undetermined pending resolution of the viability of the widow's election to take against the Will. 5. 1992 Chevrolet Blazer with more than 250,000 miles on it. The value of the vehicle is undetermined pending resolution of the viability of the widow's election to take against the Will. 6. Miscellaneous untitled household contents listed in memorandum form as being probate assets only in the event that it is determined in the declaratory judgment action that is pending herein that the property was divided between the parties by agreement prior to the death of decedent or that it is determined that the property was not divided between the parties by agreement and that the widow has not forfeited her right to elect to take against the Last Will and "Testament of the decedent. Wheee the untitled household contents are only provisionally probate assets, the estate has not expended resources to have the value of, the property appraised. !n the event that it is determined in the declaratory judgdment action that is pending herein that the widow has forfeited her right to elect to take against the Last Will and Testament of the decedent and that the property was not divided between the parties by agreement prior to the death of decedent, title to the untitled household contents will pass to the widow as sut•viving tenant by the entirety. The untitled household contents will not be subject to inheritance tax, and there will be no need to determine the value. Subtotal Grand Total ~ $