HomeMy WebLinkAbout06-06-111505607121
REV-1500 EX (06-05) OFFICIAL USE ONLY
PA Department of Revenue Coun Code Year File Number
Bureau of Individual Taxes h
PO BOX 280601 INHERITANCE TAX RETURN 2 1 1 0 1 0 0 1
Harrisburg, PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death Date of Birth
1 8 4 2 4 5 1 4 1 0 9 2 3 2 0 1 0 0 7 1 5 1 9 3 1
Decedent's Last Name
PHI L L I P S
Suffix Decedent's First Name
J O H N
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
MI
w
MI
FILL IN APPROPRIATE OVALS BELOW
0 1. Original Return ~ 2. Supplemental Return ~ 3. Remainder Return (date of death
prior to 12-13-82)
4. Limited Estate ~ 4a. Future Interest Compromise (date of ~ 5. Federal Estate Tax Return Required
death after 12-12-82)
QX 6. Decedent Died Testate ~ 7. Decedent Maintained a Living Trust 1 8. Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust)
9. Litigation Proceeds Received ~ 10. Spousal Poverty Credit (date of death ~ 11. Election to tax under Sec. 9113(A)
between 12-31-91 and 1-1-95) (Attach Sch. O)
CORRESPONDENT -THIS SECTION MUST BE COM PLETED. ALL CORRESPONDENCE AND CONFID ENTIAL TAX INFORMATION SHOULD BE DIRECTED T0:
Name Daytime Telephone Number
J O S E P H C PH I L L I P S 7 1 7 2 3 8 7 5 5 5
Firm Name (If Applicable)
~ REGISTER OF WILLS tlSE ONLY
P E T E R S & W AS I L E F S K I ~
=~~
i ~
~,
First line of address .~~ r`-= ~ -~
2 9 3 1 N O R T H
Second line of address
City or Post Office
H A R R I S B U R G
Correspondent's a-mail address: JCP(c~PWLEGAL.COM
State ZIP Code ~
P A 1 7 1 1 0
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- D~J'E FILEDf4a
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief,
it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge.
SI A, URE O ON SPONSIBLE FOR FILING .RETURN ~ DATE
ADDRESS ~ `--/ -
331 Equus Dr' e, Camp Hill, PA 17011
SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE DATE
ADDR
1505607121
F R O N T S T R E E T
PLEASE USE ORIGINAL FORM ONLY
Side 1
1505607121
J,,
-+
1505607221
REV-1500 EX
Decedent's Social Security Number
Decedents Name: JOHN w. PHILLIPS 1 8 4 2 4 5 1 4 1
RECAPITULATION
1.
.....................................
Real estate (Schedule A) 1
...
2. Stocks and Bonds (Schedule B) ............................... ... 2•
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) .. ... 3.
4. Mortgages & Notes Receivable (Schedule D) ..................... ... 4.
1 1 8 4 3 0 3 9
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) .... ... 5. ,
6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested .... ... 6. 2 6 6 2 2 8 , 0 6
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property 1 7 3 2 1 1 8
(Schedule G) ~ Separate Billing Requested .... ... 7.
........................
8. Total Gross Assets (total Lines 1-7)
... 8.
4 0
1
9
7
9,
6
3
9. Funeral Expenses & Administrative Costs (Schedule H) ............. ... 9• 3 5 1 9 , 3 0
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) ......... ... 10. 1 0 0 7 . 5 5
11. Total Deductions (total Lines 9 & 10) ........................ ... 11. 4 5 2 6 . 8 5
12. Net Value of Estate (Line 8 minus Line 11) ...................... ... 12. 3 9 7 4 5 2 , 7 8
13. Charitable and Governmental BequestslSec 9113 Trusts for which
an election to tax has not been made (Schedule J) ............... ... 13.
14. Net Value Subject to Tax (Line 12 minus Line 13) ............... ... 14. 3 9 7 4 5 2 , 7 8
TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
transfers under Sec. 9116
(a)(1.2)X.0 15.
16. Amount of Line 14 taxable
at lineal rate X .045 16.
17. Amount of Line 14 taxable
at sibling rate X .12 17.
18. Amount of Line 14 taxable
at collateral rate X .15 18.
19. Tax Due ............................................ ....19.
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
1 7 8 8 5. 3 8
1 7 8 8 5. 3 8
Side 2
1505607221 1505607221
REV-1500 EX Page 3
Decedent's Complete Address:
File Number
21 10 1001
DECEDENT'S NAME
JOHN w. PHILLIPS _ ___ _ ___
STREET ADDRESS
328 Deerfield Rd.
T _-------------- --
CITY STATE ZIP
Camp Hill PA i 17011
Tax Payments and Credits:
1. Tax Due (Page 2 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments 17,000.00
C. Discount 894,27
3. Interest/Penalty if applicable
D. Interest
E. Penalty
(1) 17,885.38
Total Credits (A + B + C) (2) 17,894.27
Total Interest/Penalty (D + E )
4. If Line 2 is greater than Line 1 + Line 3, enter the difference, This is the OVERPAYMENT.
Fill in oval on Page 2, Line 20 to request a refund.
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE.
A. Enter the interest on the tax due.
B. Enter the total of Line 5 + 5A. This is the BALANCE DUE.
(3)
(4)
(5)
(5A)
0.00
8.89
0.00
(5B) 0.00
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Ditl decedent make a transfer and: Yes No
a. retain the use or income of the property transferred : ............................................................. ......... ^ ^X
b. retain the right to designate who shall use the property transferred or its income; ...................... ......... ^ X^
c. retain a reversionary interest; or ....................................................................................... ......... ^
d. receive the promise for life of either payments, benefits or care? .............................................. ......... ^ ^X
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? .............................................................................. ......... ^ ^X
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? ......... ^ ^X
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? ......................................................................................... ......... X^ ^
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN
For dates of death on or after July 1, 1994 and before January 1,1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse
is three (3) percent (72 P.S. §9116 (a) (1.1) (i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent
[72 P.S. §9116 (a) (1.1) (ii}],The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an
adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. §9116(a)(1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in
72 P.S. §9116(1.2) [72 P.S. §9116(a)(1)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. §9116(a)(1.3)]. Asibling is defined, under
Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
REV-1508 EX + (6-98)
SCHEDULE E
COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, Sc MISC.
INHERITANCE TAX RETURN PERSONAL PROPERTY
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
JOHN w. PHILLIPS 21 10 1001
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointlyowned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. Union National Bank 29,552.04
Mt. Carmel, PA
CD Account No.0140806960
2. Union National Bank 42,710.64
Mt Carmel, PA
CD Account No. 0140806962
3. Union National Bank 19,361.69
Mt. Carmel, PA
CD Account No. 0140806961
4. 2009 Ford Ranger Pick Up Truck 18,879.00
5. Miscellaneous Costume Jewelry 200.00
6. Miscellaneous Clothing 150.00
(All items donated to Good Will)
7. M&T Bank 40.02
Shamokin, PA
Checking Account No. 98433501715
8. Truck Insurance Refund 989.00
9. Federal Income Tax Refund 1,432.00
10. PA Income Tax Refund 116.00
11. Miscellaneous Household Furniture 5,000.00
TOTAL (Also enter on line 5, Recapitulation) ~ $ 11
(ff more space is needed, insert additional sheets of the same size)
REV-1509 EX + (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE F
JOINTLY-OWNED PROPERTY
ESTATE OF FILE NUMBER
JOHN w. PHILLIPS 21 10 1001
If an asset was made joint within one year of the decedent's date of death, it must be reported on Schedule G.
ADDRESS
SURVIVING JOINT TENANT(S) NAME
A. Joseph C. Phillips
B Michael J. Phillips
C
JOINTLY-OWNED PROPERTY:
ITEM
NUMBER LETTER
FOR JOINT
TENANT DATE
MADE
JOINT DESCRIPTION OF PROPERTY
INCLUDE NAME OF FINANCIAL INSTITUTION AND BANK ACCOUNT NUMBER OR 51MILAR
IDENTIFYING NUMBER. ATTACH DEED FOR JOINTLY-HELD REAL ESTATE.
DATE OF DEATH
VALUE OF ASSET % OF
DECD'S
INTEREST DATE OF DEATH
VALUE OF
DECEDENT'S INTEREST
1. AB 6/5/06 FNB Bank 106,988.91 33.33333 35,662.97
Account No. 3000-25486
Savings Account
2. AB 6/5/06 FNB Bank 1,227.05 33.33333 409.02
Account No. 290-0285660
CD
3. AB 6/5/06 FNB Bank 27,220.06 33.33333 9,073.35
Account No. 5701-00453
Checking
4. A 1o/2s/o9• FNB Bank 107,968.77 100. 107,968.77
Account No. 007-3010575
CD $110,968.77 less 3,000 exclusion=107,968.77
5. B 07/27/09 FNB Bank 5,145.18 100. 5,145.18
Account No. 007-3010227
CD
6. B 10/28/09 FNB Bank 107,968.77 100. 107,968.77
Account No. 007-3010576
CD $110,968.77 less 3,000 exclusion=107,968.77
RELATIONSHIP TO DECEDENT
331 Equus Drive I Son
Camp Hill, PA 17011
328 Deerfield Rd. ISon
Camp Hill, PA 17011
TOTAL (Also enter on line 6, Recapitulation) I $
266,228.06
(If more space is needed, insert additional sheets of the same size)
REV-1510 EX + (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
ESTATE OF FILE NUMBER
JOHN w. PHILLIPS 21 10 1001
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes.
ITEM
NUMBER DESCRIPTION OF PROPERTY
INCLUDE THE NAME OF THE TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AND
THE DATE OF TRANSFER. ATTACHACOPYOFTHEDEEDFORREALESTATE.
DATE OF DEATH
VALUE OF ASSET
%OF DECD'S
INTEREST
EXCLUSION
(IF APPLICABLE)
TAXABLE
VALUE
1. M&T Bank 17,321.18 100. 17,321.18
IRA Account No. 35004200581715
Joseph C. Phillips and Michael J. Phillips, sons, beneficiaries
TOTAL (Also enter on line 7 Recapitulation) I $ 17 321.18
(If more space is needed, insert additional sheets of the same size)
REV-1511 EX + (10-06)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
ESTATE OF FILE NUMBER
JOHN w. PHILLIPS 21 10 1001
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. Farrow Funeral Directors 2,871.26
B.
2
3
ADMINISTRATIVE COSTS:
Personal Representative's Commissions
Name of Personal Representative (s)
Street Address
City
Year(s) Commission Paid:
State
Attorney Fees
Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City State
Relationship of Claimant to Decedent
4. Probate Fees 648.04
5 Accountant's Fees
6. Tax Return Preparer's Fees
TOTAL (Also enter on line 9, Recapitulation) $ 3,519.30
Zip
Zip
(If more space is needed, insert additional sheets of the same size)
REV-1512 EX + (12-03)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, & LIENS
FILE NUMBER
JOHN w. PHILLIPS 21 10 1001
Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
West Shore EMS-ALS
Country Meadows Pharmacy Bill
994.02
13.53
TOTAL (Also enter on line 10, Recapitulation) I $ 1 007 55
(If more space is needed, insert additional sheets of the same size)
REV-1513 EX + (9-DO)
SCHEDULE J
COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
JOHN w. PHILLIPS ~~ ~n ~nn~
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under
Sec. 9116 (a) (1.2)]
1. Joseph C. Philliips Lineal
331 Equus Drive 50%
Camp Hill, PA 17011
2. Michael J. Phillips Lineal
328 Deerfield Rd. 50%
Camp Hill, PA 17011
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
1. A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1. B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $
(It more space is needed, insert additional sheets of the same size)
REV-1500 Discount, Interest and Penalty Worksheet
Discount Calculation
Total Amount Paid within three calendar months of the decedent's date of death: ________ 17 000.00
Discount: 894.27
Interest Table
Year
~ Days Delinquent Balance Due Interest
~ this time period this year this period
Before 1981
_1982 ~__
~_ ' I
1983 _-__--
-
~ _ ~,
1984 i ~
j 1985 --
~
198 ~
- -.
--
' 1987 ----
1988 through 1991
~ 1992 _
~
1993 throw h 1994
g
h 1998
1991 -5 throu
1999
2000 ~ _ I
2001 ~
2002
2003
2004
200
' 2006
2007
~
2008 __ ~ ;
~ -- ~
TOTALS
Penalty Calculation
If the decedent's date of death was on or before March 31, 1993, insert the applicable amount:
Total Balance Due on January 17, 1996:
Penalty
LAST WILL AND TESTAMENT
OF
JOHN W. PHILLIPS
I, John W. Phillips, of Coal Township, Northumberland County, 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 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 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, Mary Lou Phillips, if she
} survives me b_v 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 mychildren, Joseph C. Phillips and Michael J. Phillips, who survive
~~_ ine by thirty (30) days. In the event that one or neither child survives me by thirty (30) days;
f~
~~ `~ 1 of 12
f~,_
~~~~-
then that deceased child's share shall be given in equal shares to the children of said deceased
child, In Trust, as set forth in THIRD below.
THIRD: I give, devise and bequeath all the rest, residue and remainder of my estate
to my wife, Mary Lou Phillips, 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 children, Joseph C. Phillips and Michael J.
Phillips, who survive me by thirty (30) days. In the event that one or neither child survives me
by thirty (30) days, then that deceased child's share shall be distributed as follows:
(1) One third (1/3) of the share that my deceased son would have
received had he survived me by thirty (30) days shall be given to his spouse
should she survive me by thirty days.
(2) The remaining two thirds (2/3) share that my deceased son would
have received had he survived me by thirty days (or the entire share if my
deceased son's spouse does not survive me by thirty (30) days) shall be given in
equal shares to the children of said deceased son, in trust, as follows:
A. The Trustee shall invest and reinvest this Trust Estate and shall
distribute the net income (hereinafter called "Income") and principal as follows:
(1) So long as any living child of my deceased child is under the age
of 'twenty-five (25) years, t17e principal shall be held as a single bust. The
Trustee shall use so much of the Income and principal as he deems advisable, in
view of other readily available funds of which he has knowledge, to provide for
__-_~
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the welfare, comfortable support and education through the college level of each
of the children of my deceased child with no duty of equalization, and shall add
any excess Income to principal and invest it as such; PROVIDED, however, that
at least a per stirpital share of Income shall be paid to or for the benefit of each
living child after his or her twenty-fifth (25th) birthday. In addition, the Trustee
is authorized in its discretion to use such sums from principal as it deems
advisable to assist any child with his or her graduate or professional education,
with the purchase of a home or in a business or profession and to charge a
portion or all thereof as an advancement, with or without interest, against the said
child's share under Subparagraph (2) below. In the event of a child's death, the
Trustee is authorized in its discretion to pay part or all of the funeral expenses.
The Trustee may pay sums allocated to a minor, without liability on the part of
the Trustee to see to the application thereof.
(2) As soon as there is no living child of my deceased child under the
age of twenty-five (25) years, the principal shall be divided, and distributed
subject to any advancements, into as many equal shares among the living children
of my deceased child. The share of any deceased child shall be distributed as is
hereinafter set forth.
(a) Upori the death of each child of my deceased child, if his
or. her trust has not already terminated; or upon. the division into
shares under this Subparagraph (2) in the case of a child' who is
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1~~
v
not then living, said child's share or so much thereof as may then
remain shall be transferred and delivered to his or her then living
issue, per stirpes, or, if he or she has none, shall be added equally
to the shares of such of the other children of my said child as are
either then living or, if deceased, have issue then living and shall
be held or distributed as if the latter shares were being set apart at
that time.
(b) If any remainderman under the foregoing provisions is a
minor and is entitled to share in excess of the amount which may
be paid to his or her natural guardian, such share shall vest in said
remainderman but shall be retained by the Trustee in a separate
trust until the twenty-fifth (25th) birthday of said remainderman,
at which time the trust shall terminate and the principal shall be
transferred and delivered to him or her free of trust. During such
minority period, the Trustee may pay to the person having custody
of said remainderman, without liability on the part of the Trustee
to see to the application thereof, or may expend directly so much
of the Income and principal as it deems advisable for the welfare,
comfortable support and education of said remainderman 'and shall
add any excess Income' to principal and invest it as such.. In the
event of the death of said remainderman during minority; the
4 of 12
Trustee is authorized in its discretion to pay part or all of the
funeral expenses, and the remaining principal shall be transferred
and delivered to said remainderman's estate.
(c) The interest of any beneficiary hereunder, including a
remainderman, in Income and principal, shall not be subject to
assignment, alienation, pledge, attachment or claims of creditors
until after payment has actually been made by the Trustee as
hereinbefore provided.
(d) Upon the death of any Income beneficiary, any Income accrued or
received by the Trustee subsequent to the last Income payment date
shall be paid to the person or person for whose benefit the principal
producing such Income is continue in trust to whom such principal
is distributed under the terms hereof.
(e) Corporate distributions received in shares of the distributive
corporation shall be allocated to principal, regardless of the
number of shares and however described or designated by the
distributing corporation.
(f) In the event that my son, Joseph C. Phillips, predeceases
me and his share of the estate is put in trust for his children, Justin
Michael Phillips; and Amy N. Phillips, and such other children
5 of 12
born to or adopted by him, I appoint Debra Phillips Trustee of
said trust. In the event that Debra Phillips cannot serve as
Trustee, I appoint Michael J. Phillips Trustee.
In the event that my son, Michael J. Phillips, predeceases
me and his share of the estate is put in trust for his child, Kristen
A. Phillips, and such other children born to or adopted by him, I
appoint Susan Phillips, Trustee of said trust. In the event that
Susan Phillips cannot serve as Trustee, I appoint Joseph C. Phillips
Trustee.
(g) Any trustee appointed herein shall have the right to designate
one or more individuals or a corporation with fiduciary powers to
serve with him as Co-Trustee or Co-Trustees or to succeed him as
Trustee or Trustees. If at any time more than one Trustee is
serving, all singular references to Trustee herein shall be deemed
to include the plural.
(h) Trustee hereunder shall have the following powers, in
addition to and not in limitation of those granted by law: to accept
assets in kind in distribution from my estate; to collect proceeds of
insurance on my life and to use such proceeds to purchase assets
from my estate or to make loans to my estate; to retain assets iii
6 of 12
kind or to sell the same and to invest and reinvest the proceeds and
any other cash in any kind of property, real or personal, or part
interest therein, located in the United States or abroad, including
interest-bearing accounts in or certificates issued by its own
banking department and securities underwritten by syndicates of
which the Trustee is a member but not purchased from the
Trustee, all statutory and other limitations as to the investment of
funds, now or hereafter enacted or in force, being waived; to hold
income cash uninvested until the next regular payment date,
without liability for interest thereon; to retain or to purchase
policies of life insurance, to pay premiums thereon frorn income
or principal and to exercise all rights of ownership thereover; to
pledge, exchange or mortgage real or personal property and to
lease the same for terms exceeding five (5) years; to give options
for sales and exchanges; to borrow money; to compromise claims;
to vote shares of corporate stock, in person or by proxy, in favor
of or against management proposals; to carry securities in the
name of `a nominee, including that of a clearing corporation or
depository, or in book entry form or unregistered or in such other
form as will pass by delivery; and to make division or distribution
hereunder either in caslZ or in kind and to allocate to shares
7 of 12
:`
different kinds of or interest in property and property having
different bases for federal income tax purposes as the Trustee
deems equitable.
(i) Any trustee designated herein shall have the right to
designate one or more individuals or a corporation with fiduciary
powers to serve as Co-trustees or as a successor Trustee. A
corporate Trustee shall be entitled to receive annual compensation
for its services hereunder in accordance with its schedule in effect
when the services are performed, but not in excess of such
compensation as would be approved by a court of competent
jurisdiction.
In the event that a deceased son is not survived by a spouse or issue for thirty (30) days
after my death, said share shall be distributed to my surviving son if he survives me by thirty
(30) days or his spouse and issue as set forth above.
FOURTH: I appoint my wife, Mary Lou Phillips, Executrix of this my Will. In case
of her inability or unwillingness to act or to continue as my Executrix, I hereby appoint my
sons, Joseph C. Phillips and Michael J. Phillips, as Co-Executors. In the event either is unable
or unwilling to act or to continue as my Executor, I hereby appoint my other. son as my
Executor. I give to my Executrix or my Executor the same powers as are hereinbefore given
to niy Trustee.
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No bond shall be required of any fiduciary hereunder in any jurisdiction. No fiduciary
hereunder shall have any liability for any mistake or error of judgment made in good faith.
I specifically authorize my Executrix or Executor to file a joint income tax return with
my wife for any period during which such a return is permitted, without requiring her to sign
an indemnification agreement.
FIFTH: I realize that executors and trustees are given discretion by law to make various
elections which affect the income and estate taxes payable by estates, trusts and beneficiaries,
as well as the relative shares of beneficiaries, such as taking administration expenses as
deductions for either estate or income tax purposes, selecting options for the payment of
employee death benefits, electing to take qualified terminable interests as part of the marital
deduction, selecting alternate valuation dates, postponing the payment of taxes, filing joint
income tax or gift tax returns and redeeming corporate stock. The decisions made by my
fiduciaries in any of those matters shall be binding upon, and not subjected to
question by, any affected persons; PROVIDED, however, that if a corporate fiduciary is
serving, its decision shall also be binding upon any individual co-fiduciary. I rely upon my
fiduciaries to take into consideration the total income and estate taxes payable by reason of their
decisions, including those payable by my survivors, and they are authorized in their discretion,
-but not recloired'to make adjustments between income and principal as a result thereof. They
:are specifically authorized to file a joint income. tax return with my wife for aiiy period during
which such a return is permitted, .without requiring her to sign an indemnification agreement.
;~~~~.,;
l
/.'~..
SIXTH: 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
property passes under this Will, shall be paid from 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 direction 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 on any qualified terminable interest or to any generation-skipping transfer taxes.
SEVENTH: Any person who has died at the same time as me or within thirty (30) 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.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
~~
IN WITNESS WHEREOF, I have set my hand and seal to this, my Last Will and
Testament, consisting of this and the preceding nine (9) pages, at the end of each page of which
I have also set my initials for greater security and better identification this
_,
,.~. ~ day of ; `1~ 19~
~~`~ !.
t_.-- ~f'~'.~" ~ _-~,~G 'SEAL)
Jo . 1 W. Phillips
We, the undersigned, hereby certify that the foregoing Will was signed, sealed,
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 first above written, and we certify that
at the time of the execution thereof, the said Testator was of sound and disposing mind and
memory.
~~~?, ~ (SEAL)
L'~ ~-" U
~ _, l.: ~`` ~. (SEAL)
~_i~~~ ~c;' r~-Ju ~,:_~~./`~ _ ~ (SEAL)
-_J`
11 of 12
COMMONWEALTH OF PENNSYLVANIA)
~, SS.
COUNTY OF ~~-c.-t.~.~.-~c.% )
_(()) ~1 ~
We John W. Philli s .V,~'^ ~~' ° J , ~~f' `G ~ ,
P~
r ,- ~ ~-
~(`,(~~,i-P . ; _ {~ ~J-~;~,~ ~~ ,and ~~_~ ~~ • ~_, ! ~ (- : ~ ~ ~ ~ ~ r~%~ ,; jthe testator and the witnesses,
respectively, whose names are signed to the attached or foregoing instrument, being first duly
sworn, do hereby declare to the undersigned authority that the testator signed and executed the
instrument as her Last Will `and that she had signed willingly, and that she executed it as her 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.
Testator
Witness
Witness
Witness
siding at o.~' •~G~r ~~`~• ~ ~~' l~~
J
!~ tai -?% ~
siding at _~~ (~~.~. I ~ ~ ~x.~-' ~ _
siding at ;i,-i r ~-_;! -"f 1~~._ ~~ ~ ; - .~~~ r_.> %~ ---~ ~~ i . ,
Subscribed, sworn to and acknowledged before me by John W . Phillips,
the testator, and subscribed and sworn to before me by
(~{~~, M ~ ~
~,~~1f?iS,~ ~fiYt(L. , I i(~.~t~C.~~CL C_7 ~°~i~~'S and ~ t. ~ - Pc~J1~'?
t~, '- 1996.
witnesses, this ~~(~ -day of v..r ~-e~c..~ ,
Nota' r b is U
Y
~~~~ai
P Kathryn jai ~rcz Votary. Public
N~~rr'r~e,~~a ~auph~n County_
MyComr~.~s~o~ r~,c~lras March.3o,-1999
t~fllt~i' i"I"t!'r JlvdllldI=KSJJG$t10f1Gf~`~Otc'117~ .