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Home My WebLink About06-10-11j~ ~ I~''y f ~+. ~'~;"~ ~O -"- ~ ~ ~'', ~p c._. r~r-t FAMILY SETTLEMENT AGREEMENT ~ ~' ~ ~` ` ~,~ i' ~~ o ~ ~-~ ~3 IN THE ESTATE OF MIRIAM E. DAVIS. DECEASE~~~ ~~~,~~~ ,_~. ~a~ ~ ~~=~ AGREEMENT executed this 3 / day of ~~ S ~L011, byc..~nd ~-'''~ ~~ between SUSAN K. DAMS, Executrix of the Estate of MIRIAM E. DAMS, deceased; and DENNIS L. DAVIS, MICHAEL L. DAVIS and SUSAN K. DAVIS, heirs and beneficiaries of the Estate of MIRIAM E. DAVIS. WHEREAS, MIRIAM E. DAMS, late of Township of Dickinson, Cumberland County, Pennsylvania, died on November 25, 2010, having left a Last Will and Testament dated August 25, 2009. WHEREAS, on December 20, 2010, the Register of Wills in and for the County of Cumberland, Commonwealth of Pennsylvania, did constitute and appoint SUSAN K. DAMS, as Executrix of the Estate of MIRIAM E. DAMS, in Estate Number 21-10-1244 upon the probating of the aforesaid. Last Will and Testament, and WHEREAS, the Executrix has proceeded with the administration of said Estate consisting of assets in the amount of $71,032.48, plus non-probate assets of $15,533.80, less disbursements in the amount of $45,970.25, less distribution of non-probate assets to named beneficiary of $15,533.80, leaving a principal balance on hand of $25,062.23, as set forth in the First and Final Account, a true and correct copy is attached hereto and made part hereof as Exhibit "A", and WHEREAS, the only parties in interest in said Estate are the above-named parties, and WHEREAS, said parties in interest desire that the Executrix shall not be required to file an Account with the Orphan's Court of Cumberland County, Pennsylvania, and that the net estate of the decedent shall be distributed without the necessity of filing a formal Account to avoid the expense, delay and publicity of a formal accounting, but should instead be distributed in accordance with the Executrix's Proposed Schedule of Distribution, a true and correct copy of which is attached hereto and made a part hereof as Exhibit "B". -~ NOW THEREFORE, in consideration of the mutual promises, covenants and agreements recited herein, the above-named heirs and beneficiaries of the Estate of MIRIAM E. DAVIS do hereby mutually agree as follows: 1. The parties hereto, and each of them, agree and acknowledge that they have fully and carefully examined the First and Final Account of SUSAN K. DAVIS, Executrix for the Estate of MIRIAM E. DAMS, deceased, and Proposed Schedule of Distribution relating thereto, and find them to be true and correct, and acceptable to the parties hereto and each of them, and further that each of them has received a copy of this Family Settlement and Final Release and of said Account and Proposed Schedule of Distribution. 2. The parties hereto hereby agree that in order to avoid the expense, delay and publicity involved in the filing of a formal Account and Schedule of Distribution, no accounting to the Court is necessary and we do hereby agree that we do consent to distribution being made without the filing of an Account and Schedule of Distribution, the same to be with the same force and effect as if they had been filed and confirmed by the Orphan's Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania. 3. The parties hereby remise, release, quitclaim and forever discharge the Estate of MIRIAM E. DAVIS, and SUSAN K. DAMS, Executrix, her heirs, Executors, administrators and assigns, from all manner of acts, suits, claims, accountings, debts and demands whatsoever which we or any of us or our legal representatives or assigns may at any time hereafter have against said Executrix, estate, or assets thereof, touching or concerning the Estate of the Decedent. 4. The parties hereto covenant and agree that they will contribute their share of the Estate to satisfy all claims, debts, demands, suits or cause of action which may be successfully brought against the Estate or the Executrix after the execution of this Family Settlement and Final Release. 5. The parties hereto hereby agree that they will at all times in the future and wherever necessary, appropriate or convenient, made, execute and deliver to said Executrix, and/or to the other party or persons, any and all instruments, documents, conveyances, deeds, releases or other instruments of any kind necessary or convenient to carry out the intention of this Family Settlement and Final Release. 6. This Family Settlement and Final Release constitutes the entire understanding among the parties hereto, and each of them acknowledges that no representations or statements of any kind, written or oral, have been made to them or any of them prior hereto by the Executrix or any other person or party upon her behalf. 7. This Family Settlement and Final Release shall inure to the benefit and shall bind the parties hereto, and each of them, their heirs, Executors, administrators, successors and assigns. 8. This Family Settlement and Final Release shall be governed by the laws of the Commonwealth of Pennsylvania. IN WITNESS WHEREOF, the parties hereto have hereunto set their respective hands and seals the day and year first above written. WITNESSETH: Date SUSAN K. DAMS Executrix ~I L. Date SUSAN K. DAMS Individually as heir and beneficiary ~'" 3 t 1 ~ Date ~~31 1 ~ Date D NNIS L. DAMS Individually as heir and beneficiary ,~ MICHAEL L. DAMS Individually as heir and beneficiary FIRST AND FINAL ACCOUNT OF SUSAN K. DAVIS, EXECUTRIX OF THE ESTATE OF MIRIAM E. DAVIS, Deceased Date of Death: November 25, 2010 Date of Executrix' Appointment December 20, 2010 Accountz'ng for the Period of December 20, 2010 to May 31, 2010 Purpose of Account: SUSAN K DAVIS, Executrix of the Estate of MIRIAM E. DAVIS, offers this Account to acquaint interested parties with the transactions that have occurred during her administration of the Estate for the accounting period indicated above. The Account also indicates the. proposed distribution of the Estate. It is important that the Account be carefully examined. Request for additional information or questions or objections can be discussed with: Bradley L. Griffie, Esquire GRIFFIE & ASSOCIATES 200 North Hanover Street Carlisle, PA 17013 (717) 243-5551 100 Lincoln Way East, Suite D Chambersburg, PA 17201 (717) 267-1350 (800) 347-5552 SUMMARY OF ACCOUNT Principal -Total Assets $86,566.28 (including non-probate assets) Less Disbursements of Principal (-) 45,970.25 Non-probate assets previously distributed ~- 15,533.80 TOTAL Cash Available for Distribution $25,062.23 Exhibit "A" RECEIPTS OF PRINCIPAL REAL ESTATE NONE STOCKS and BONDS NONE CASH and BANK ACCOUNTS 1. M&T Bank Checking Account No. 9843927444 ....................... 70 545.48 SUBTOTAL ......................................................... $70,545.48 PERSONAL PROPERTY NONE ADDITIONAL RECEIPTS 1. 2010 Rent Rebate .............................. 487.00 SUBTOTAL ......................................................... 487.00 TOTAL PRINCIPAL of probate Estate before adjustments...........$71,032.48 NON-PROBATE ASSETS ATTRIBUTABLE TO ESTATE 1. Nationwide Financial ............................... $15,533.80 Annuity No. 5993275 SUBTOTAL ..................................................................... $15,533.80 GAINS AND LOSSES ON SALES AND OTHER DISTRIBUTIONS GAINS: NONE LOSSES: NONE Total principal of Estate with all adjustments ..............................$86,566.28 DISBURSEMENTS OF PRINCIPAL M&T Bank Account No. 9850788374 DEBTS OF DECEDENT Department of Public Welfare ............................$36,226.89 Philhaven (Medical services) .............................$ 20.00 Gwen Drum (Real estate assistance fee) .................$ 35.00 Social Security Direct Deposit Refund .................. $ 769.00 Yellow Breeches Family Practice (Medical)............ $ 8.26 SUBTOTAL :........................................... $37,059.15 FUNERAL EXPENSES Food/Catering ............................................... 111.07 SUBTOTAL :.......................................... $ 111.07 ADMINISTRATION EXPENSES 1. Attorney's fees to GRIFFIE & ASSOCIATES...........$ 3,000.00 2. Personal Representative Commission ..................... $ 3,500.00 3. Probate Fees ..................................................$ 224.50 4. Advertising -The Sentinel ................................. $ 187.54 5. Advertising -Cumberland Law Journal ..................$ 75.00 SUBTOTAL: $6,987.04 TAXES Pennsylvania Inheritance Tax $1,908.41 Less Discount ~-)$ 95.42 SUBTOTAL: 1812.99 TOTAL DISBURSEMENTS OF PRINCIPAL $45,970.25 NON-PROBATE ASSETS PREVIOUSLY DISTRIBUTED 1. Nationwide Financial ...................................... 15 533.80 Annuity No. 5993275 (Distributed to named beneficiary) SUBTOTAL: $15,533.80 INTERIM DISBURSEMENTS TO BENEFICIARIES NONE TOTAL DISBURSEMENT AND DISTRIBUTION $6:1,504.05 Total Principal of Estate with Adjustments $86,566.28 Total Disbursements and Distribution (-)$61,504.05 Net available estate assets $25,062.23 PROPOSED SCHEDULE OF DISTRIBUTION Net Cash on Hand Distributed as Follows: Susan K. Davis ........................................................................$8,354.08 Dennis L. Davis ......................................................................$8,354.07 Michael L. Davis .....................................................................$8,354.07 TOTAL CASH DISBURSEMENT: $ 25,062.23 EXHIBIT "B"