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HomeMy WebLinkAbout03-24-11 (3)LAST WILL AND TESTAMENT ,, ~~ _ ;_~ RONALD L. TOOMEY - ___ I, Ronald L. Toomey, of New Cumberland, Cumberland Cbtrit~, - - ~ ~ ~; -__ _ , ,_ _ Pennsylvania, being of sound and disposing mind, memory and understanding, do ' ' hereby declare this to be my Last Will and Testament, hereby revoking all prior wills and codicils. FIRST: The expenses of my last illness and funeral shall be paid out of my Estate. SECOND: I may leave a written .statement or list in my safe deposit box or with this will disposing of certain items of my tangible personal property not otherwise specifically disposed of herein. Any such statement or list in existence at the time of my death shall be deemed determinative with respect to all items bequeathed therein. If no written statement or list is found in my safe deposit box, or elsewhere, and properly identified by the Executor within thirty (30) days after the probate of my will, it shall be presumed that there is no such statement or list; any subsequently discovered statement or list shall be ignored. I bequeath all my tangible personal property owned by me at the time of my death, together with all insurance policies thereon, to my wife, Patricia Toomey, if she survives me by thirty (30) days. In the event she fails to survive me by thirty (30) days, I bequeath said tangible personal property and all insurance policies thereon, in as nearly equal shares as is practicable, to my nephews, Michael Lescanic and Nicholas 1 of 10 ,~~ Lescanic and my niece, Kathryn Lescanic, who survive me by thirty (30) days. THIRD: I give, devise and bequeath all the rest, residue and remainder of my Estate to my wife, Patricia Toomey, if she survives me by thirty (30) days. In the event she fails to survive me by thirty (30) days, I give, devise and bequeath all the rest, residue and remainder of my Estate in substantially equal shares to my nephews, Michael Lescanic and Nicholas Lescanic and my niece, Kathryn Lescanic, who survive me by thirty (30) days. The share of any beneficiary who has not attained the age of twenty-five (25) years at the date of my death shall be held IN TRUST far the benefit of said beneficiary, to be administered and distributed as provided in paragraph FOURTH hereof. FOURTH: The following provisions shall apply to any trust established pursuant to the provisions of this will: (a) The Trustee shall pay the net income arising from the principal of this Trust in convenient, not less than annual, installments in equal shares to the Beneficiary during his or her lifetime. (b) During the lifetime of the Beneficiary, the Trustee shall pay to or for the benefit of the. Beneficiary so much of the principal of this Trust as may be necessary, in the sole discretion of the Trustee, for the proper support, maintenance, medical. care and college or higher education of the Beneficiary. 2 of 10 ~ i~ (c) Upon the attainment of the age of twenty-five (25) years by the Beneficiary, the Trust for the Beneficiary shall terminate and the Trustee shall pay to the Beneficiary all of the assets of the Trust, absolutely and in fee simple. (d) Should the Beneficiary die before final distribution of the assets of said Trust, but be survived by then living issue, the Trustee shall quarterly pay the net income from said Trust to or for the benefit of said issue, per stirpes, living at each time of quarterly distribution; as soon as any one of the said issue attains the age of twenty-one (21) years, and in no event later than twenty (20) years following the death of the Beneficiary, the Trustee shall pay over all of the then assets in Trust to the then living issue of such deceased Beneficiary, per stirpes. Should the Beneficiary die before final distribution and not be survived by then living issue, the provisions of subparagraph (e) herein shall obtain. (e) If at any time before final distribution of the assets of this Trust there is no living Beneficiary of this Trust, the Trust shall terminate and its assets shall be distributed in the manner set forth in paragraph SEVENTH of this will as if I had died on the date that this Trust no longer has any living Beneficiaries. Provided, however, that if -there is then in existence any trust created hereunder for the benefit of any beneficiary referenced in 3of10 ~~ paragraph SEVENTH, the assets which wauld have been paid to the beneficiary shall be added to the principal of the Trust established for the benefit of such Beneficiary. FIFTH: In the settlement of my estate and during the continuance of the foregoing Trusts, the Executor and the Trustee shall possess, among others, the following powers: (a) To retain any investments I may have at my death, including specifically those consisting of stock of any bank even if I have named such bank as the Executor or Trustee herein, so long as the Executor or Trustee may deem it advisable to my estate so to do. (b) To vary investments, when deemed desirable by the Executor or Trustee, and to invest in such bonds, stocks, notes, real estate mortgages or other securities or in such other property, real or personal, as they shall deem wise, without being restricted to so- called "legal investments" , and without being limited by any statute or rule of law regarding investments by fiduciaries. (c) In order to effect a division of the principal of a Trust or for any other purpose, including any final distribution of a Trust, the Executor or Trustee is authorized to make said divisions or distributions of the personality and realty, partly or wholly in kind, and to allocate specific assets among beneficiaries and 4 of 10 ~~ Trusts created hereunder so long as the total market value of any share is not affected by such division, distribution or allocation in kind. Should it appear desirable to partitic-n any real estate, the Executor or Trustee is authorized to make, join in and consummate partitions of lands, voluntarily or involuntarily, including giving of mutual deeds, recognizances or other obligations, with as wide powers as an individual owner in fee simple. (d) To sell either at public or private sale and upon such terms and conditions as the Executor or Trustee may deem advantageous to the estate or Trust, any or all real or personal estate or interest therein owned by the estate or Trust severally or in conjunction with other persons or acquired after my death by the Executor or Trustee, and to consummate said sale or sales by sufficient deeds or other instruments to the purchaser or purchasers, conveying a fee simple title, free and clear of all trust and without obligation or liability of the purchaser or purchasers to see to the application of the purchase money or to make inquiry into the validity of said sale or sales; also, to make, execute, acknowledge and deliver any and all deeds, assignments, options or other writings which may be necessary or desirable in carrying out any of the powers 5 of 10 /~ ~~ conferred upon the Executor or Trustee in this paragraph or elsewhere in my will. (e) To mortgage real estate, and to make leases of real estate. (f) To borrow money from any party, including the Executor or Trustee, to pay indebtedness of mine or my estate, expenses of administration or inheritance, legacy, estate and other taxes, and to assign and pledge assets of my estate therefor. (g) To pay all costs, taxes, expenses and charges in connection with the administration of my estate or a Trust. (h) To make distributions of income and of principal to the proper beneficiaries thereof, during the administration of my estate, with or without court order, in such manner and. in such amounts as my Executor deems prudent and appropriate. (i) To vote any shares of stock which form a part of the estate or Trust, and otherwise to exercise all the powers incident to the ownership of such stock. (j) In the discretion of the Estate or Trustee, to unite with other owners of similar property in carrying out any plans for the reorganization of any corporation or company whose securities form a part of the estate. (k) To disclaim any interest in property which would devolve to me or my estate by whatever means, including but not limited to the 6of10 Q~ following means; as beneficiary under a will, as an appointee under the exercise of a power of appointment, as a person entitled to take by intestacy, as a donee of an inter vivos transfer, and as a donee under athird-party beneficiary contract. (1) To do all other acts in their judgment deemed necessary or desirable for the proper and advantageous management, investment and distribution of the estate or Trust. SIXTH: Wherever and as often as any Beneficiary hereunder, to whom payments of income or principal are herein directed to be made, shall be under legal disability, or, in the sole judgment of the Trustee, shall otherwise be unable to apply such payments to his own or her own best interests and advantages, the Trustee may make all or any portion of such payments in any one or more of the following ways: (a) Directly to the Beneficiary; (b) To the Legal Guardian or Conservator of such Beneficiary; (c) To a relative of such Beneficiary, to be expended by such relative for the benefit of such Beneficiary; or (d) By itself expending same for the benefit of said Beneficiary. SEVENTH: In the event that my wife, nephews and niece predecease me, without issue, then any residue shall be transferred and delivered to those persons who would have been entitled thereto if my wife and I had each owned one-half (1/2) thereof and we would have both died at the same time intestate, unmarried and domiciled in Pennsylvania. 7 of 10 ~~ EIGHTH I appoint Michael L. Lescanic,M.D., Trustee. In the event that he is unable or unwilling to act as Trustee, then I appoint Dauphin Deposit Bank, Trustee. NINTH: I appoint my wife, Patricia Toomey, Executrix of this my will. In case of her inability or unwillingness to act or to continue as my Executrix, I hereby appoint Michael L. Lescanic, M.D., Executor. TENTH: I direct that all estate, inheritance and other taxes in the nature thereof, together with any interest and penalties thereon, becoming payable because of my death with respect to the property constituting my gross estate for death tax purposes, whether or not such properly passes under this will, shall be paid to the principal of my residuary estate, and no person receiving or having a beneficial interest in any such property, whether under this will or otherwise, shall at any time be required to contribute to or refund any part thereof; provided, however, that this discretion shall not apply to the taxes on any property included in my estate solely because of a power of appointment thereover which I possess but Have not exercised or any qualified terminable interest or to any generation-skipping transfer taxes. ELEVENTH: Any person who has died at the same time as me or within thirty days of my death, or under such circumstances that the order of our deaths cannot be established by proof, shall be deemed to have predeceased me. 8of10 `- IN WITNESS WHEREOF, I have set my hand and seal to this, my Last Will and Testament, consisting of this and the preceding eight ($) pages, at the end of each page of which I have also set my initials for greater security and better identification this~~day of , 1999. ~-~~ ~~ (SEAL) Ronald L. Toomey t We, the undersigned, hereby certify that the foregc-ing Will was signed, sealed and published and declared by the above-named Testator as and for his Last Will and Testament, in the presence of us, who, at his request and in his presence and in the presence of each other, have hereunto set our hands and seals the day and year above written, and we certificate at the time of/'/ execution thereof, the said Testator was of sound and disposing mind and 1~~'. ,~, (SEAL;1 (SEAL;- ~~ ~' j~~~~ (SEAL) L- 9 of 10 COMMONWEALTH OF PENNSYLVANIA SSN: COUNTY OF ~ ~ ~' // ~~- We, Ronald L. `~ Toomey, ~~~'S J, o~ , , hl~Op~~l , ~~Y ~2 ~ and tiA ~ the testator and the witnesses respectively, whose names are ned to the attached or foregoing instrument, being first dully sworn, do hereby declare to the undersigned authority that the testator signed and executed the instrument as his Last Will and that he had signed willingly, and that he executed it as his free and voluntary act for the purposes therein expressed, and that each of the witnesses, in the presence and hearing of the testator, signed the Will as witness and that to the best of their knowledge the testator was at that time eighteen (18) years of age or older, of sound mind and under no constraint or undue influence. Te residing at N~ ~ , W W residing at residing at Witness, residing at ubscribed, sworn to and acknowledged before me by Ronald L. Toomey, the testator, and subscribed to before me by ~~ ,J . ~G~1~% ~~ , l~/~ f~~ r~ ,~, ('t~~ls and ~~ ~ t7Q~ ~ , witnesses, this ~~ day of un~ , 1999. NOTARIAL SEAL T PATRICIA D. SHANK, Not~Publ3rl Harrisburg, Dauphin CowMy, PA My Comma~ion Ezpirp S~pf. 11, ~OOp 10 of 10