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HomeMy WebLinkAbout05-26-11IN THE MATTER OF THE ESTATE OF WILSON C. EVERHART, M. D., DECEASED IN THE ORPHANS' COURT DIVISION OF THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA NO. 2009-01191 ~ ~~ ESTATE SETTLEMENT AGREEMENT THIS AGREEMENT, made as of this ~~ day of May 2011, ~v;~ c, `:#_~ ~.4 ~~~' ~ WITNESSETH: ~ ~• c. ~• THE CIRCUMSTANCES leading to the execution of this Agreement are as ~`oflows: 1. Wilson C. Everhart, M. D. (the"Decedent") died testate on 21 December 20 09 at 95 years of age, and Wilson C. Everhart, Jr., qualified with the Register of Wills of Cumberland County, Pennsylvania, as Executor (the "Executor") of the Decedent's probate estate (the "Estate"). 2. Decedent's Last Will and Testament (the "Will"), which was admitted to probate, was executed by Decedent on 17 February 2000 . 3. Items THIRD and FOURTH of the Decedent's Will provides for the distribution of Decedent's tangible and intangible personal property, as follows: THIRD: I give my tangible personal property and all casualty insurance that I am carrying on said tangible personal property to such of my children who are living at my death, to be divided equitably among or between them as they may determine, or, if they are unable to agree, as my Executor shall determine, after considering the wishes of such children. I have complete confidence that my children or my Executor will honor any written instructions that I may leave with regard to said tangible personal property. Any such property not so distributed shall be sold, and the proceeds added to my residuary estate to pass as hereafter described. FOURTH: I give, devise and bequeath all the rest, residue and remainder of my property of every kind and description (including lapsed legacies and devises), wherever situate and whether acquired before or after the execution of this Will, to the Trustee under that certain Trust Agreement ("my Trust Agreement") Estate Settlement Agreement Wilson C. Everhart, M.D. Page 1 of 6 -- _ __ ~ between myself, as the Settlor, and Wilson C. Everhart, Jr., as the Trustee, of even date herewith, and signed prior to the execution of this Will. My Trustee shall add the property bequeathed and devised by this Article to the principal of the above Trust and shall hold, administer and distribute all such property in accordance with the provisions of the Trust Agreement, including any amendments thereto made by me before my death. 4. The Beneficiaries desire to settle the Estate informally in order to avoid the expense and delay involved with the formal adjudication of a First and Final Account by the Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania (the "Court"). 5. The Executor, joins in this Agreement to signify his agreement with the terms hereof as more particularly set forth hereafter. 6. The Beneficiaries and Executor desire to forever settle and compromise any and all claims and rights which they may possess, now or hereafter, in the Estate and to confirm their acceptance of the informal accounting of the assets and expenses of the Estate, including the identification of assets and expenses of the Estate as set forth on the Pennsylvania transfer inheritance tax return and the proposed equal distribution of the rest and remainder of the Estate, presented to each of the Beneficiaries by the Executor, which are incorporated herein by this reference. The Beneficiaries and Executor desire that the distributions to the Beneficiaries be in full satisfaction of their rights in the Estate. 7. The Beneficiaries wish to release the Executor and to indemnify him against any and all claims that may be asserted against the Estate or the Executor after the date hereof. The Beneficiaries also desire to release the Executor with respect to the waiver of a right to a formal adjudication of a First and Final Account of the Estate. 8. The Executor is willing to settle the Estate informally in consideration of the indemnifications hereinafter provided by the Beneficiaries. NOW THEREFORE, in consideration of the foregoing and intending to be legally bound, the Beneficiaries and Executor, for themselves, their heirs, personal representatives, successors and assigns: Estate Settlement Agreement Wilson C. Everhart, M.D. Page 2 of 6 1. Represent and warrant that they have read and understand this Agreement and confirm that the facts set forth above are true and correct, to the best of their knowledge, information and belief. 2. Declare that they have sufficient information to make an informed waiver of their right to a formal accounting with the Court, and they do hereby waive the filing and auditing of the same. 3. Acknowledge that the distributive share or amount, which they have received or will receive from the Executor, shall be in full satisfaction of the Beneficiaries' entitlements under the Will. 4. Release, remise, quitclaim and forever discharge the Executor, his heirs, personal representatives, successors and assigns, from and against all claims that they may, as legatees of the Estate, and in connection with the Estate, have, had, now has or may in the future have in connection with the Estate. 5. Agree to refund, on demand, all or any part of any aforesaid distribution, which has been determined by the Executor, or by the Court, or by any court of competent jurisdiction, to have been improperly made. 6. Agree to indemnify and hold harmless the Executor, his heirs, personal representatives, successors and assigns, from and against any and all claims, loss, liability or damage (whether or not related to the negligence of the Executor) that may hereafter be asserted against the Estate or against the Executor. 7. Agree to execute such other or additional documents as may be necessary to effectuate the agreements set forth herein. 8. Acknowledge that this Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. 9. Consent to the Court exercising personal jurisdiction over the Beneficiaries in any suit or action arising out of the enforcement of this Agreement. IN WITNESS WHEREOF, the Executor, and the Beneficiaries have placed their hands and seals on the attached Consents to Estate Settlement Agreement. Estate Settlement Agreement Wilson C. Everhart, M. D. Page 3 of 6 CONSENT TO ESTATE SETTLEMENT AGREEMENT AND RECEIPT OF DISTRIBUTION I, WILSON C. EVERHART, JR., individually and as Executor of the Estate, hereby acknowledge receipt of the assets of the Estate of Wilson C. Everhart, M. D., which I already have received or will receive from the Executor, in accordance with the attached Estate Settlement Agreement, and I hereby consent to and join in the Estate Settlement Agreement, which has been provided to me. ,< ~ ~ Dated: ~ ~~ WITNESS: ~•~ ILA ~. D, ~! t', rA ~ Z `'' C/~ ~ w, ~~~/~ 1 WILSON C. EVERHART, JR. COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND . SS. ON THIS, the ~ day of 2011, before me the un dersigned officer, personally appeared WILSON C. EVERHART, JR., known to me (or satisfactorily proven to be the person whose name is subscribed to the within instrument, and acknowled ed 9 that he executed the same in the capacities and for the purposes therein contained. IN WITNESS WHEREOF, I hereunder set my hand and official seal. ~~#~-UbIIC M. Darlene Rkhter, Notary Publk Lower ANen Twp., Cumberland County My Commission E~irei Ocx. 31, 201 Estate Settlement Agreement Member. Pennsvlvanla Il49odadon of Notaries Wilson C. Everhart, M.D. Page 4 of 6 CONSENT TO ESTATE SETTLEMENT AGREEMENT AND RECEIPT OF DISTRIBUTION I, JANE E. MURRAY, hereby acknowledge receipt of the assets of the Estate of Wilson C. Everhart, M. D., which I already have received or will receive from the Executor in accordance with the attached Estate Settlement Agreement, and I hereby consent to and join in the Estate Settlement Agreement, which has been provided to me. Dated: ~~~ `~ ~ WITNESS: -..-~ ~~. ~ ~ 1 x ~;ANE E. MUR Y COMMONWEALTH OF PENNSYLVANIA : . SS. COUNTY OF CUMBERLAND ON THIS, the ~'~ day of /~ 2011, before me the undersigned officer, personally appeared JANE E. MURRAY, known to me (or satisfactorily proven to be the person whose name is subscribed to the within instrument, and acknowled ed that 9 she executed the same in the capacities and for the purposes therein contained. IN WITNESS WHEREOF, I hereunder set my hand and official seal. `~ .~~~~ N LVANIA "~#~~~ Lower Allen Twp., Cumberland County Estate Settlement Agreement My commleslon oct. si, toia Wilson C. Everhart, M. D. Page 5 of 6 ' Pen"tea" la'~0°1~0r' oP Notaries CONSENT TO ESTATE SETTLEMENT AGREEMENT AND RECEIPT OF DISTRIBUTION I, MARGARET E. BURTON, hereby acknowledge receipt of the assets of the Estate of Wilson C. Everhart, M. D., which I already have received or will receive from the Executor, in accordance with the attached Estate Settlement Agreement, and I hereb y consent to and join in the Estate Settlement Agreement, which has been provided to me. Dated: /' ~ ~ C~ f WITNESS: Y~4 C.t A1~~. ~. ~~n MAR RET E. BURTON COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND SS. ON THIS, the ~h day of 2011 before me, the undersigned officer, personally appeared MARGARET E. BURTON, known to me (or satisfactoril Y proven) to be the person whose name is subscribed to the within instrument, and acknowledged that she executed the same in the capacities and for the purposes therein contained. tN WITNESS WHEREOF, I hereunder set my hand and official seal. r /~~ COMMIpN1~E~l~(~SYLVANIA Notarta15ea1 M. Darlene Rkhter, ryotary p~k ComrrN~ ', Cumberland County Estate Settlement Agreement at. 31, 2014 Member. PennsMaMa A~oclaaon ~ Notaries Wilson C. Everhart, M.D. Page 6 of 6