HomeMy WebLinkAbout06-06-11 (2)IN THE ORPHANS' COURT DIVISION
OF THE COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA ,.,,,
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ESTATE OF HELEN M. SEARS, DECEASED ~ ~;, ~
No. 2010-00647 v;' a, i3 ~~'
APPROV p~ '
AL OF ACCOUNT, WAIVER, RECEIPT, ~ ,,;~
RELEASE, AND AGREEMENT OF INDEMNITY ~' `~' i==
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The circumstances leading up to the execution of this instrument are as follows:
1. Helen M. Sears died on May 3, 2010, leaving a Will dated February 5, 2009,
naming Mark 5. Leitch as Executor and Margaret Howard as alternate Executrix.
2. Mark S. Leitch renounced his right to administer the Estate of Helen M. Sears
on June 16, 2010.
3. Letters Testamentary were granted to Margaret Howard by the Register of Wills of
Cumberland County on June 25, 2010.
4. It is the desire of the Helen M. Sears heirs that the Estate be distributed without the
formality of a court proceeding in order to save the expense, publicity, and delay incident to
such court proceeding, and the Executrix is willing to make such distribution upon the
execution of this instrument.
5. An account of the administration of the Estate of Helen M. Sears has been prepared
by the Executrix. A copy is attached hereto as Exhibit A.
6. In consideration of the foregoing, each of the undersigned hereby:
A. Represents and warrants that he/she has read and understands this
instrument and that the facts set forth above are true and correct to the best of his/her
knowledge, information and belief;
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B. Declares that he/she has examined the attached account of the administration
of the Estate and the attached schedule of distribution; that he/she fmds them to be true and
correct in all particulars; that he/she accepts and approves them as if they had been duly filed,
audited, adjudicated and confirmed absolutely by the Orphans' Court Division of the Court of
Common Pleas of Cumberland County, and as if the amounts shown as distributable had been
duly awarded to him/her;
C. Waives the filing and auditing of the account of the administration of the
Estate in the Orphans' Court Division of the Court of Common Pleas of Cumberland County,
and agrees that the Orphans' Court Division of the Court of Common Pleas of Cumberland
County may by its decree confirm the account and approve the schedule of distribution;
D. Requests the Executrix to make distribution of the principal and income in
accordance with the schedule of distribution, and effective upon delivery to him/her of the
amounts shown as respectively distributable, acknowledges receipt of such property;
E. Agrees to refund to the Executrix any amount which may at any time be
determined to have been an erroneous distribution to him/her, regardless of the cause of such
erroneous distribution, even if attributable to negligence, and agrees that any period for the
limitation of actions for the collection of any erroneous distribution shall commence only at
such time as the Executrix shall have obtained actual knowledge of such erroneous distribution
and that in no event shall the period for collection of any erroneous distribution be less than
two years after the actual discovery thereof;
F. Absolutely and irrevocably remises, releases, quitclaims and forever
discharges Margaret Howard, individually and in her capacity as Executrix, from any and all
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actions, suits, payments, accounts, reckoriin~~ l~~~iliti~S, ta~iclis grid demands relating in any
way to the administration of the Helen M. Sears Estate;
G. Agrees to indemnify and hold harmless, to the extent of the funds received
by him/her hereunder, Margaret Howard, individually and in her capacity as Executrix, from
and against any and all claims, loss, liability or damage (including legal fees and costs in
connection therewith) which she may suffer or to which she may be subjected by reason of her
administration of the Estate, the settlement of her Executrix's account and the distribution of
the assets of the Estate without having the formal approval of the Orphans' Court Division of
the Court of Common Pleas of Cumberland County, including, but not limited to, any liability
for any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with
interest and costs incidental thereto, relating in any way to the Estate; and
H. Declares it to be his/her intention that this instrument, consisting of four
pages, shall be governed by the law of Pennsylvania and shall be legally binding as an
agreement under seal upon him/her and upon his/her heirs, executors, administrators and
assigns;
I. This agreement may be executed in counterparts.
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Executed on:
DATE
DATE
D E
DATE
DATE
DATE
(Seal)
MARGARET HOWARD
(Seal)
P TRICIA FOR HE
S a>~ 1)- //
RA K SEAR , JR.
(Seal)
MOLLY HOWARD LUTTON
SAMUEL FORSYTHE
DAVID SEARS
(Seal)
(Seal)
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Executed on:
DATE
DATE
DATE
L$ It
DA E
DATE
DATE
MARGARET HOWARD
(Seal)
(Seal)
PATRICIA FORSYTHE
(Seal)
FRA K ARS, R.
(Seal)
MOLL , OWARD LUTTON
SAMUEL FORSYTHE
DAVID SEARS
(Seal)
(Seal)
___. ..
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Executed on:
DATE
DATE
DATE
DATE
S/31/~I
DATE
DATE
MARGARET HOWARD
PATRICIA FORSYTHE
(~)
(Seal)
(Seal)
FRANK SEARS, JR.
(Seal)
MOLLY HOWARD LUT~TON
iG~T.~!~`----~ (Seal)
SAMUEL FORSYTHE
DAVID SEARS
-4-
(Seal)
Executed on:
DATE
DATE
DATE
DATE
DATE
S 3o T.o/~
DA
(Seal)
MARGARET HOWARD
(Seal]
PATRICIA FORSYTHE
FRANK SEARS, JR.
MOLLY HOWARD LUTTON
(Seal)
(Seal)
-(Seal)
SAMUEL FORSYT
___ (Seal)
DA D SEARS
__ __ __..
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BEFORE THE REGISTER OF WILLS,
CUMBERLAND COUNTY, PENNSYLVANIA
No. 2010-00647
FIRST AND FINAL ACCCOUNT OF
MARGARET HOWARD, Executrix
For
ESTATE OF HELEN M. SEARS, Deceased
Date of Death: May 3, 2010
Date of Executor's Appointment: June 25, 2010
Accounting for the Period: May 3, 2010 to May 20, 2011
PURPOSE OF ACCOUNT: Margaret Howard, Executrix, offers this Account to
acquaint interested parties with the transactions that have occurred during her administration.
The Account also indicates the proposed distribution of the Estate.
It is important that the Account be carefully examined. Requests for additional
information or questions or objections can be discussed with:
Debra K. Wallet, Esquire
24 N. 32nd Street
Camp Hill, PA 17011
I.D. #23989
(717) 737-1300
EXHIBIT A
SUMMARY OF ACCOUNT
Fiduciary
Current Acquisition
Paae Value Value
Proposed Distribution
to Beneficiaries 7 $ 170,519.79
PRINCIPAL
Receipts 2-3 197,613.14
Less Disbursements
Funeral Expenses 4 2,624.24
Administration Expenses 4 2,157.00
Federal and State Taxes 4 10,268.04
Fees and Commissions 4 12,115.00 $ 27,164.28
Principal Balance on Hand $ 170,448.86
INCOME
Receipts 5 $ 170.93
Income Balance on Hand 170.93
Balance Before Distributions $ 170,619.79
Distributions to Beneficiaries 6 100.00
Combined Balance on Hand $ 170,519.79
Page 1
RECEIPTS OF PRINCIPAL
Assets Listed in Inventory:
(Value as of Date of Death)
Cash and Bank Deposits:
Metro Bank Checking Acct. #0032019432
Janney Montgomery Scott Money Market
Account
Edward Jones--cash in account #270-07258
Cash in possession of Decedent
Tangible Personal Prouertv:
Drop leaf table, bedside table
Household goods (based on proceeds from
Haar's Auction)
StockslBonds:
Janney Montgomery Scott Acct. #74772752
Edward Jones Acct. #270-07258-1-1 bond
fund
Refunds:
Commonwealth of PA--tax refund
The Patriot News subscription refund
Verizon Wireless refund
Travelers Insurance--renter's ins. refund
TOTAL ASSETS LISTED IN INVENTORY:
Receipts Subsequent to Inventory
1,335.74
14,908.77
126.25
60.00 $ 16,430.76
100.00
5,083.65 $ 5,183.65
159,417.56
14,871.65 $ 174,289.21
306.00
203.75
1.36
114.00 $ 625.11
Page 2
S 196,528.73
(Valued When Received)
Edward Jones
Edward Jones
Bank error
2010 Federal Income Tax refund
TOTAL RECEIPTS OF PRINCIPAL:
150.00
134.38
0.03
800.00 $ 1,084.41
Page 3
$ 197,613.14
DISBURSEMENTS OF PRINCIPAL
FuneralExoenses:
Partial reimbursement to Margaret Howard 2,624.24 $ 2,624.24
for funeral expenses
Administration Expenses:
Probate Fees 362.50
Attorney's postage, copies, mileage, etc. 30.00
Bank fee 4.50
Janney Montgomery Scott (DOD statement fee) 100.00
IRA disbursement to Margaret Howard 550.00
IRA disbursement to Patricia Forsythe 550.00
IRA disbursement to Frank D. Sears, Jr. 550.00
Reserve for Filing of Account 10.00 $ 2,157.00
Federal and State Taxes:
PA Inheritance Tax 10,165.69
PA Dept. of Revenue - 2010 lifetime return 96.00
PA Dept. of Revenue - 2010 fiduciary taxes 3.35
Reserve for 2011 fiduciary taxes 3.00 $ 10,268.04
Fees and Commissions:
Janice Atwood (2010 tax preparation) 115.00
Debra K. Wallet, Esq--Attorney Fees 6,000.00
Executrix Fee--Margaret Howard 6,000.00 $ 12,115.00
Page 4
RECEIPTS OF INCOME
Interest:
Interest on PNC Estate Checking Acct.
#86-2192-2485 June -December 2010 108.89
Interest on PNC Estate Checking Acct.
#86-2192-2485 January -April 2011 62.04
TOTAL RECEIPTS OF INCOME:
170.93
Page 5
DISTRIBUTION TO BENEFICIARIES
TO: Patricia Forsythe
1022 Morningside Avenue
Pittsburgh, PA 15206-1347
Drop leaf table, bedside table $ 100.00
TOTAL DISTRIBUTION TO BENEFICIARIES:
S 100.00
Page 6
I
PROPOSED DISTRIBUTION TO BENEFICIARIES
TO: Margaret Howard $ 28,436.64
34 Newport Drive
Wayne, PA 19087-5058
Patricia Forsythe 28,336.63
1022 Morningside Avenue
Pittsburgh, PA 15206-1347
Frank D. Sears, Jr. 28,436.63
117 E. Countryside Drive
Boiling Springs, PA 17868
Molly Howard Lutton 28,436.63
PO Box 22
Riverside, PA 17868
Samuel Forsythe 28,436.63
1022 Morningside Avenue
Pittsburgh, PA 15206-1347
David Sears 28,436.63
522 Orr's Bridge Road
Camp Hill, PA 17011
TOTAL PROPOSED DISTRIBUTION TO BENEFICIARIES:
$ 170,519.79
Page 7