HomeMy WebLinkAbout06-22-11J 1505610148
REV-1500 Ex (°'-'°'
PA Department of Revenue OFFICIAL USE ONLY
Bureau of Individual Taxes County Code Year File Number
Po Box Zsosol INHERITANCE TAX RETURN 21 10 0 4 4 3
Harrisburg, PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death MMDDYYYY Date of Birth MMDDYYYY
186-14-5791 03172010 06051922
Decedent's Last Name Suffix Decedent's First Name M I
POTTEIGER, JR- ELMER H
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name M I
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
- - REGISTER OF WILLS
FILL IN APPROPRIATE BOXES BELOW
® 1. Original Return ^ 2. Supplemental Return ^ 3. Remainder Return (date of death
^
4. Limited Estate
^
4a. Future Interest Compromise (date of
^ prior to 12-13-82)
5. Federal Estate Tax Return Required
6. Decedent Died Testate
~ death after 12-12-82)
7. Decedent Maintained a Living Trust
0
8
Total N
b
f S
f
D
(Attach Copy of Will)
(Attach Copy of Trust) .
um
er o
a
e
eposit Boxes
^ 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 COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
LAUREN V . FRICK, V - P • ~~.~_~~ ~_ ~I_r-n
First line of address
PNC BANK, N - A • , EXECUTOR
Second line of address
P•0. BOX 3822
City or Post Office
LANCASTER
State ZIP Code
PA 176043822
correspondent's a-mail address: W W W• L A U R E N. F R I C K a1i P N C- C O M
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REGISTER CS USE ON~If
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DATE FILED
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 orrect and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge.
SIG F PERSO PON BLE ~ R FILIN RN ATE
BY ~~ , ~ ~I
ADDR S
PNC BANK, N.A., EXECUTOR, P.0- BOX 3822, LANCASTER, PA 17604
JICiNA I uKE UI- PREPARER OTHER THAN REPRESENTATIVE DATE
HUUKCJJ
PLEASE USE ORIGINAL FORM ONLY
Side 1
1505610148 1505610148
9M4647 4.000
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1505610248
REV-1500 EX
Decedent's Social Security Number
186-14-5791
Decedents Name: P O T T E I G E R, J R E M FR H
RECAPITULATION
1. Real Estate (Schedule A) 1 0 • 0 0
2. Stocks and Bonds (Schedule B) . 2. 31.0 2
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) , 3 0 • 0 0
4. Mortgages and Notes Receivable (Schedule D) _ 4
. 0 • 0 0
5. Cash, Bank Deposits and Miscellaneous Personal Property (Schedule E) 5. 7 9 3 , 4 6 9. 4 5
6. Jointly Owned Property (Schedule F) ~ Separate Billing Requested 6 0 • 0 0
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G) ~ Separate Billing Requested 7. ], 21, 0 91.6 0
8. Total Gross Assets (total Lines 1 through 7) 8 914 , 5 9 2 . ^ 7
9. Funeral Expenses and Administrative Costs (Schedule H) , , g 6 0 , 7 0 7 • 16
10. Debts of Decedent, Mortgage Liabilities, and Liens (Schedule I) . 10 ], , 16 0 • 3 2
11. Total Deductions (total Lines 9 and 10) , 11. 61, , 8 6 7 • 4 8
12. Net Value of Estate (Line 8 minus Line 11) 12. 8 5 2 , 7 2 4 - 5 9
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made (Schedule J) , . 13 0 • 0 0
14. Net Value Subject to Tax (Line 12 minus Line 13) , 14. 8 5 2 , 7 2 4 • 5 9
TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
transfers un~er Sec. 9116
15.
16. Amount of Line 14 t xable
o 4~
at linealratex
. 852,724.59 16
17.
Amount of Line 14 taxable .
at sibling rate X .12 0 • 0 Q
18.
Amount of Line 14 taxable 17.
at collateral rate X .15 0 . Q Q 18.
19. TAX DUE
19.
20. FILL IN THE BOX IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
Side 2
1505610248
9M4648 4.000
1505610248
0.00
38, 372.61
0.00
0.00
38 , 372.61
J
REV-1500 EX Page 3
File Number
Total Credits (A + g) (2) 3 9 , 0 0 0.0 0
3. Interest
(3> 0.00
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Fill in box on Page 2, Line 20 to request a refund. (4) 6 2 7 • 3 9
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 0 • 0 0
Make check payable to: REGISTER OF WILLS, AGENT.
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred; ® ^
b. retain the right to designate who shall use the property transferred or its income; ® ^
c. retain a reversionary interest; or . ^
d. receive the promise for life of either payments, benefits or care?. ® ^
2. If death occurred after Dec. 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? . ^
3. Did decedent own an "in trust for" or payable-upon-death bank account or security at his or her death? ^
4. Did decedent own an individual retirement account, annuity, or other non-probate property, which
contains a beneficiary designation? ® ^
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 Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is
3 percent [72 P.S. X9116 (a) (1.1) (i)].
For dates of death on or after Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0 percent
[72 P.S. X91 16 (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 21 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 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 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 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.
9M4671 2.000
Tax Payments and Credits:
1. Tax Due (Page 2, Line 19) (1) 3 8 , 3 7 2.61
2. Credits/Payments
A. Prior Payments 3 7, 4 0 0.0 0
B. Discount _ y , 6 0 0.0 0
REV-1503 EX + (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE B
STOCKS & BONDS
ESTATE OF
FILE NUMBER
Elmer H Potteic7er Jr . 21 10 0443
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
3wasss ~.ooo (If more space is needed, insert additional sheets of the same size)
REV-1508 EX+ (6-98)
SCHEDULE E
COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS
& MISC
INHERITANCE TAX RETURN
RESIDENT DECEDENT ,
.
PERSONAL PROPERTY
ESTATE OF FILE NUMBER
Elmer H Potteiger, Jr. 21 10 0443
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly-0wned with the right of survivorship must be disclosed on Schedule F.
ITEM
NUMBER VALUE AT DATE
DESCRIPTION OF DEATH
1 PNC Bank, N.A. Checking Account #51-1270-1162 122,676.01
Interest accrued to 3/17/2010 27.47
2 Cash found in decedent's home 1,157.23
3 Tangible Personal Property located at 2100 Bent Creek
Road, Mechanicsburg, PA - clothing of no value 0.00
4 Security Rare Coins - proceeds from sale of Coin
Collection 3,194.00
5 Pacificare Life ~ Health Insurance Company - refund
unearned premium on health insurance policy #P00013806 137.88
6 The Bridges At Bent Creek - partial refund of prepaid
monthly fees 1,423.11
7 Aetna Medicare - refund under pharmacy policy 118.52
8 Allianz Life Insurance Company Annuity Policy #70352764
Beneficiary - Decedent's Estate
Cash Value Per Statement Attached 45,787.58
9 Allianz Life Insurance Company Annuity Policy #70352871
Beneficiary - Decedent's Estate
Cash Value Per Statement Attached $134,577.04
Death Benefit $ 2,139.71 136,716.75
10 Allianz Life Insurance Company Annuity Policy #70390776
Beneficiary - Decedent's Estate
Cash Value Per Statement Attached $331,835.47
Death Benefit $ 7,767.57 339,603.04
11 National Western Life Annuity Policy #0101087132
Beneficiary - Decedent's Estate
Cash Value Lump Sum Payment Per Letter Attached 32,483.40
Total from continuation schedules I 110,144.46
3W46AD 1.000
TOTAL (Also enter on line 5 Recapi~
(If more space is needed, insert additional sheets of the same size)
793,469.45
Estate of: Elmer H Potteiger, Jr. 21 10 0443
Schedule E (Page 2)
Item Value at Date
No. Description of Death
12 Old Mutual Financial Life Insurance Company Annuity
Policy #L9145396
Beneficiary - Decedent's Estate
Cash Value Per Statement Attached 49,693.03
13 Sun Life Financial Annuity Policy #KA14036162-O1
Beneficiary - Decedent's Estate
Indexed Value Per Letter Attached 60,451.43
Total (Carry forward to main schedule) 110,144.46
REV-1510 EX+(08-09) SCHEDULE G
pennsylvania
DEPARTMENT OF REVENUE INTER-VIVOS TRANSFERS AND
INHERITANCE TAX RETURN MIS(;, NON-PROBATE PROPERTY
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Elmer H Potteiger, Jr. 21 10 0443
This schedule must be completed and filed if the answer to any of questions 1 through 4 on page three of the REV-1500 is yes.
ITEM
NUMBS DESCRIP110N OF PROPERTY
INCLLOETFEN4MEOFTHETRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AND
TrE DATE OF TRANSFER. ATTACHA COPY OF THE DEED FOR REAL ESTATE.
DATE OF DEATH
VALUE OF ASSET
%OF DECD'S
INTEREST
EXCLUSION
IF APPLICABLE
TAXABLE
VALUE
~• Decedent and his Wife, Adonna
D. Potteiger (Died 12/03/2005) ,
created a Revocable Living
Trust Agreement dated December
31, 2003 and General Amendment
dated April 8, 2004 with Elmer
H. Potteiger and Adonna D.
Potteiger as Co-Trustees
(Caroline A. Stoner is
Successor Trustee).
Copies of Trust Agreement and
General Amendment Attached
(Page 10 of the Trust Agreement
could not be included as a copy
was never found with the
decedent's papers)
Consisting of:
PNC Bank, N.A. Checking Account
#50-7008-3262
I/N/O Elmer ~ Adonna Potteiger
Trust 8,275.65 100.0000 0.00 8,275.65
Interest accrued to 3/17/2010 0.02 100.0000 0.02
2 PNC Bank, N.A. Money Market
Account #50-0080-9865
I/N/O Elmer ~ Adonna Potteiger
Trust 4,644.33 100.0000 0.00 4,644.33
Interest accrued to 3/17/2010
------------------------------ 0.02 100.0000 0.02
Total from continuation sched les 108,171.58
9W46AF 2.000
TOTAL (Also enter on line 7, Recapitulation) $
If more space is needed, use additional sheets of paper of the same size.
121,091.60
Estate of: Elmer H Potteiger, Jr.
Schedule G (Page 2)
Item DOD Value
No. Description of Asset $ Interest Exclusion
3 National Western Life Annuity
Policy #0101087133
Beneficiaries - 20$ to Caroline A.
Stoner, and 16~ each to Cindy L.
Johnson, Nicole Johnson, Cathy
Watkins (now Fanus), Christina
Watkins ~ Nathaniel Watkins
Cash Value Lump Sum Payment Per
Letter Attached
108,171.58 100.0000
0.00
21 10 0443
Taxable
Value
108,171.58
Total (Carry forward to main schedule) 108 171.58
REV-1511 EX+ (10-09)
pennsylvania SCHEDULE H
DEPARTMENTOF REVENUE FUNERAL EXPENSES AND
INHERITANCE TAX RETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Elmer H Potteiaer, Jr. 21 10 0443
Decedent's debts must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1, Hetrick Cremation Services of Central Pennsylvania,
Inc. -balance due for funeral services 736.42
B. ADMINISTRATIVE COSTS:
1. Personal Representative Commissions: 33 , 200.27
Name(s) of Personal Representative(s) pNC Bank , N . A .
Street Address P. O. Box 3822
City Lancaster State PA ZIP 17604-3822
Year(s) Commission Paid: 2011
2. Attorney Fees: 25, 202.93
3. Family Exemption: (tf decedent's address is not the same as claimant's, attach explanation.)
Claimant
Street Address
City State ZIP
Relationship of Claimant to Decedent
4. Probate Fees:
923.50
5. Accountant Fees:
6. Tax Return Preparer Fees:
7.
1 Register of Wills of Cumberland County - cost of 2
short certificates 20.00
Total from continuation schedules I 624.04
TOTAL (Also enter on Line 9 Recapitulation) ~ $ 60 , 707 16
9W46AG 2.000 If more space is needed, use additional sheets of paper of the same size.
Estate of: Elmer H Potteiger, Jr. 21 10 0443
Schedule H Part 7 (Page 2)
2 Stevens ~ Lee, P.C. - reimbursement of miscellaneous
expenses 36.74
3 Reserve for miscellaneous administration expenses 300.00
4 Stevens ~ Lee, P.C. - reimburse payments for cost to
publish legal advertisement of estate The Sentyinel
and Cumberland Law Journal 287.30
Total (Carry forward to main schedule) 624.04
REV-1512 EX + (12-08)
pennsylvania
DEPARTMENT OF REVENUE
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULEI
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES ~ LIENS
ESTATE OF FILE NUMBER
Elmer H Potteiger, Jr. 21 10 0443
Report debts incurred by the decedent prior to death that remained unpaid at the date of death, including unreimbursed medical expenses.
swasAH 2.00o If more space is needed, insert additional sheets of the same size.
REV-1513 EX+ (01-10)
pennsylvania
DEPARTMENT OF REVENUE
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE J
BENEFICIARIES
ESTATE OF: FILE NUMBER:
Flmar F~ S~nti-cirTCr .Tr n~ ,n n..-,
RELATIONSHIP TO DECEDENT ,,,
AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
TAXABLE DISTRIBUTIONS [Include outright spousal distributions and transfers under
Sec. 9116 (a) (1.2).]
1. Caroline A. Stoner
317 Beaver Road
Harrisburg, PA 17112
PNC Bank, N.A. Checking Account
#50-7008-3262
I/N/O Elmer ~ Adonna Potteiger Trust
20$ Interest: 1,655.12
PNC Bank, N.A. Money Market Account
#50-0080-9865
I/N/O Elmer b Adonna Potteiger Trust
20~ Interest: 928.87
National Western Life Annuity Policy
#0101087133
20~k Interest: 21,634.33
One Third of Residue: 243,877.65 Daughter 268,095.97
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 1 8 OF REV-1500 COVER SHEET, AS APP ROPRIATE.
II NON-TAXABLE DISTRIBUTIONS
A. SPOUSAL DISTRIBU110NS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN:
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS:
1.
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. $ 0.00
9W46AI 2.000 "'"'" .,r,..,., '~+ "~-~-~+~-~+~ VJG OVVIUVIIQI aiicc~a V~ LJd~JCI VI uie carne size.
Estate of: Elmer H Potteiger, Jr.
Schedule J Part 1 (Page 2)
Item
No. Description
2 Cindy L. Johnson
5716 Oak Avenue
Harrisburg, PA 17112
PNC Bank, N.A. Checking Account
#50-7008-3262
I/N/O Elmer ~ Adonna Potteiger Trust
16~ Interest: 1,324.11
PNC Bank, N.A. Money Market Account
#50-0080-9865
I/N/O Elmer ~ Adonna Potteiger Trust
16~ Interest: 743.10
National Western Life Annuity Policy
#0101087133
16~ Interest: 17,307.45
Two Thirds of Residue: 487,755.32
3 Nicole Johnson
5716 Oak Avenue
Harrisburg, PA 17112
PNC Bank, N.A. Checking Account
#50-7008-3262
I/N/O Elmer & Adonna Potteiger Trust
16$ Interest: 1,324.11
PNC Bank, N.A. Money Market Account
#50-0080-9865
I/N/O Elmer ~ Adonna Potteiger Trust
16$ Interest: 743.10
National Western Life Annuity Policy
#0101087133
16~ Interest: 17,307.45
Relation
Granddaughter
Gr.Granddaughter
21 10 0443
Amount
507,129.98
19,374.66
Estate of: Elmer H Potteiger, Jr. 21 10 0443
Schedule J Part 1 (Page 3)
Item
No. Description Relation Amount
4 Cathy Watkins (now Fanus)
25 Rocky Ridge Road
Dillsburg, PA 17019
PNC Bank, N.A. Checking Account
#50-7008-3262
I/N/O Elmer & Adonna Potteiger Trust
16~ Interest: 1,324.11
PNC Bank, N.A. Money Market Account
#50-0080-9865
I/N/O Elmer ~ Adonna Potteiger Trust
16~k Interest: 743.10
National Western Life Annuity Policy
#0101087133
16~ Interest: 17,307.45 Granddaughter 19,374.66
5 Christina Ann Watkins
110 Slover Road
Mechanicsburg, PA 17055
PNC Bank, N.A. Checking Account
#50-7008-3262
I/N/O Elmer ~ Adonna Potteiger Trust
16~ Interest: 1,324.11
PNC Bank, N.A. Money Market Account
#50-0080-9865
I/N/O Elmer ~ Adonna Potteiger Trust
16~ Interest: 743.10
National Western Life Annuity Policy
#0101087133
16$ Interest: 17,307.45 Gr.Granddaughter 19,374.66
Estate of: Elmer H Potteiger, Jr.
Schedule J Part 1 (Page 4)
21 10 0443
Item
No. Description Relation Amount
6 Nathaniel Jacob Watkins
110 Slover Road
Mechanicsburg, PA 17055
PNC Bank, N.A. Checking Account
#50-7008-3262
I/N/O Elmer ~ Adonna Potteiger Trust
16$ Interest: 1,324.11
PNC Bank, N.A. Money Market Account
#50-0080-9865
I/N/O Elmer ~ Adonna Potteiger Trust
16~ Interest: 743.10
National Western Life Annuity Policy
#0101087133
16~ Interest: 17,307.45 Great Grandson 19,374.66
LAST WILL AND TESTAMENT
OF
ELMER H. POTTEIGER
I, ELMER H. POTTEIGER, of Mechanicsburg, Cumberland County, Pennsylvania,
declare this to be my Last Will and Testament, hereby revoking all Wills and Codicils at any time
heretofore made by me.
FIRST: Tangible Personal Property.
I give my tangible personal property in the following shares:
A. Atwo-thirds (2/3) share to my granddaughter, CINDY L. JOHNSON (my
"Granddaughter"), now of Harrisburg, Pennsylvania, if she survives me by thirty (30) days; but if
she should not so survive me, then such share shall be distributed to my daughter, CAROLINE
A. STONER (my "Daughter"), now of Harrisburg, Pennsylvania, if she so survives me; but if
neither persons so survive me, then such share shall be distributed under Paragraph D. hereof.
B. A one-third (1/3} share to my Daughter, CAROLINE A. STONER, now of
Hamsburg, Pennsylvania, if she survives me by thirty (30) days; but if she should not so survive
me, then such share shall be distributed to my Granddaughter, CINDY L. JOHNSON, now of
Harrisburg, Pennsylvania, if she so survives me; but if neither so survive me, then such share
shall be distributed under Paragraph D. hereof.
C. If my Daughter and my Granddaughter each take shares in such tangible
personal property, then distribution shall be made to them as they may agree at the values for
Page 1
such items as determined by my Executor. In the absence of such agreement, my Executor shall
determine the particulars of such distributions, to be fulfilled, either in-kind or through
liquidation, in whole or in part, as may be practical, in its discretion..
D. If neither my daughter, CAROLINE A. STONER, nor my granddaughter,
CINDY L. JOHNSON , so survive me by thirty (30} days, then such tangible personal property
shall become a part of the residue of my Estate, to be sold or to be distributed in-kind as my
Executor shall deem appropriate, after taking into consideration expressions of interest by
beneficiaries in particular items at the values established by my Executor.
SECOND: Residue.
I give the residue of my estate, after the payment or satisfaction of the bequests set
forth above, as follows:
A. Two-thirds (Z/3) of the residue to my granddaughter, CINDY L.
JOHNSON (my "Granddaughter"}, now of Hamsburg, Pennsylvania, if she survives me by
thirty (3 0) days; but if she should not so survive me, then such share shall be distributed to her
then-living issue, per stirpes.
B. One-third (1/3) of the residue to my Daughter, CAROLINE A. STONER,
now of Harrisburg, Pennsylvania, if she survives me by thirty (30) days; but if she should not so
survive me, then such share shall be distributed to my Granddaughter, CINDY L. JOHNSON,
now of Harrisburg, Pennsylvania, if she so survives me; but if neither so survive me, then such
share shall be distributed to the then-living issue of my Granddaughter, CINDY L. JOHNSON,
per stirpes.
Page 2
THIRD: Negative Bequest.
I hereby declare my intention that, under no circumstances, shall my
granddaughter Kathy Fanus, or any of her descendants, or any other persons deriving rights from
her, inherit anything under this Will or from my Estate. It is my :intention and expectation to
exclude Kathy Fanus and such persons from any benefit upon my death.
FOURTH: Protective Trusts.
The interests or shares distributable to any person who has not then attained the
age of thirty-five (35) years of age (a "Beneficiary"), shall be held, administered and distributed
for the Beneficiary, IN TRUST, NEVERTHELESS, by my Trustee, hereinafter nominated, in a
separate trust for that Beneficiary, as follows:
A. Distribution of Income and Principal. My Trustee shall pay to or for the
benefit of each Beneficiary so much of the net income and principal of such Beneficiary's trust in
such proportions and at such times as my Trustee, in the discretion of such Trustee, may deem
advisable for such Beneficiary's health, maintenance, support, and complete education through
the college level, including preparatory and vocational education. On an annual basis any
income not paid for such purposes shall be added to principal and invested as such. In addition,
my Trustee may use so much of the income and principal of such Beneficiary's trust as my
Trustee may deem advisable for the graduate or professional education of such Beneficiary, to
pay all or any part of such Beneficiary's wedding expenses, or to assist such Beneficiary in the
purchase of a home or in entering a profession or a business considered a good risk by my
trustee.
Page 3
I3. Withdrawal of Principal. Notwithstanding the foregoing provisions,
after reaching age 25, such Beneficiary may withdraw one-third (1/3) of the principal of such
Beneficiary's separate trust, valued as of such birthday or the date of division into shares, if later;
after reaching age 30, such Beneficiary may withdraw one-half (1/2) of the remaining principal of
such Beneficiary's separate trust, valued as of such birthday or the date of division into shares, if
later; and after reaching age 3 5, such Beneficiary may withdraw all or any part of the principal of
such Beneficiary's separate trust.
C. Death of Beneficiary Prior to Termination of Separate Trust. Upon
the death of any Beneficiary prior to the termination of such Beneficiary's separate trust, my
Trustee shall distribute the remaining principal to the estate of such Beneficiary.
FIFTH: Administrative Provisions. The following provisions shall be applicable
to my estate and the trusts created hereunder:
A. Spendthrift Protection.
1. Assignment Prohibited. While in the hands of my executor or
Trustee and until actually paid over or delivered to the persons entitled thereto, all legacies,
shares, or interests in my estate or any trust created hereunder, whether income or principal, shall
not be subject to assignment, pledge, execution, attachment, or the claims of creditors.
2. Exception for Certain Actions. The provisions of subparagraph
A.l above shall not preclude: (i) a personal exercise or release by a beneficiary of a right of
withdrawal or power of appointment granted hereunder, if any; (ii) a disclaimer by a beneficiary,
in whole or in part, of any interest in income or principal hereunder; or (iii) a setoff against such
interest of any indebtedness of the beneficiary to me, my estate, or any trust created herein.
Page 4
B. Accrued or Undistributed Income. Upon the death of any income
beneficiary, any accrued or undistributed income shall be paid to the person or persons for whom
the principal is continued in trust or to whom it is distributed under the terms hereof.
C. Termination of Small Trusts. If the principal of any trust created
hereunder is or becomes too small in the discretion of my Trustee to make the establishment or
the continuance of the trust advisable, then my executor or my Trustee may distribute the
remaining principal and any accrued or undistributed income outright to the then-current income
beneficiary of the trust, or if there is more than one such beneficiary, then in equal shares to such
beneficiaries. The receipt and release of such income beneficiary or beneficiaries will terminate
absolutely the rights of all persons who might otherwise have a future interest in the trust,
whether vested or contingent, without notice to them and without the necessity of filing an
account to the court.
D. Exculpatory Provisions. My Executor and Trustee shall have complete
discretion to elect such options and select the time for distribution in such manner as they may
perceive from what might have been my viewpoint to be in the overall best interests of the
persons having a beneficial interest in my estate and the trusts created hereunder, without
reimbursement or compensatory adjustments. They shall not be liable for any loss occumng as a
result of any such elections or the timing of distributions.
E. Simultaneous Death. If the deaths of a beneficiary and me occur under
circumstances in which there is no sufficient evidence that we died otherwise than
simultaneously, then for the purposes of this Will, that beneficiary shall be presumed to have
survived me.
Page 5
F. Adopted and Related Persons. References in my Will to children,
grandchildren, issue, descendants, heirs, or persons related to others shall be deemed to include,
in addition to blood relatives, persons who fall into that relationship solely by reason of adoption
so long as the adoption occurred during the minority of the adoptee.
G. Written Notices. Until written notice of any event upon which a right to
receive income or principal may depend is received by my Trustee, my Trustee shall incur no
liability to persons whose interests have been affected by such event for distributions made by
my Trustee in good faith.
SIXTH: Powers of Fiduciaries. In addition to the powers conferred by law, my
executor with respect to my estate, and my Trustee, with respect to any trust created hereunder,
shall have the following powers, to be exercised in their absolute discretion, in the capacity to
which such powers may be applicable.
A. General Powers.
1. To retain for distribution in kind, without duty of diversification,
all property owned by me at my death or received in trust;
2. To invest in all forms of property, without restriction to so-called
"authorized" or "legal" investments and without regard to diversification;
3. To exercise all rights of security holders;
4. To delegate discretionary powers; to employ investment counsel,
custodians of trust property, brokers, agents, accountants, and attorneys and to act without
independent investigation upon their recommendations;
5. To deposit securities in a clearing corporation or carry the same in
the name of a nominee or in book entry form;
Page 6
6. To maintain, repair, alter, improve, partition, subdivide, dedicate,
and otherwise manage or deal with real estate;
7. To sell, pledge, exchange, lease for any period of time, or mortgage
any real or personal property, and to grant options for the sale, exchange, or lease of the same;
8. To borrow money and pledge or encumber any property of the
estate or trusts as security therefor, without liability on the part of the lender to see to the
application of such funds;
9. To compromise claims in favor of or against the estate or trusts
without court approval;
10. To exercise options to subscribe to or purchase securities;
11. To join in, consent to, or oppose any voting trust and any plan of
lease, mortgage, merger, consolidation, reorganization, recapitalization, liquidation, foreclosure,
or other readjustment of the financial structure of any firm or corporation in which the estate or
trusts may have an interest;
12. To purchase from my estate any assets thereof and to make loans to
those estates to provide liquidity;
13. To retain items of tangible personal property indefinitely without
necessity of conversion, permit use of the same by any income beneficiary, and distribute or apply
the same pursuant to either the discretionary or mandatory principal distribution provisions of the
trust in which the same are retained;
14. To apply all or any part of the income of the estate or any trust
created herein for the payment in whole or in part of the cost of maintenance, repair, or
Page 7
improvement of any real estate held therein and the taxes, insurance premiums, or other costs and
charges due with respect to the same;
15. To decline to accept, disclaim, release, renounce, or abandon any
interest in property and any power;
16. To make distributions in cash or in kind at current values, in
undivided interests or non-pro rata shares;
17. To nominate themselves or another as Custodian under a Uniform
Gifts or Transfers to Minors' Act and make transfers of a beneficiary's interest in all or part of the
estate or trust to such Custodian to be held for the benefit of such beneficiary;
18. To purchase and sell securities through any broker or brokerage
firm they may select.
B. Elections. To make elections under the tax laws and to select property,
without regard to income tax basis, to be sold to satisfy obligations of my estate or trust estate or
to be allocated in kind to any beneficiary, including any trust, and to elect to receive the proceeds
of any qualified employee benefit trust or individual retirement account payable to my Trustee as
a lump sum distribution, an annuity, or any other available form of payment, without
reimbursement or equitable adjustment in the relative interests of the beneficiaries affected
thereby and without liability therefor. Such actions shall be binding and conclusive on all
persons.
C. Collection of Proceeds of Annuities and Policies. To collect the
proceeds of any annuities or life insurance policies payable to my Estate hereunder from the
issuing companies, who shall have no responsibility to see to the application thereof; to bring
actions to enforce payment of any policy if the funds held hereunder by my Executor are
Page 8
sufficient to indemnify my Executor against all costs, attorney fees, and other expenses of suit to
the satisfaction of my Executor.
SEVENTH: Payment of Death Taxes.
A. Generally. Except as otherwise provided in this Article, 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.
B. Exception for Powers of Appointment and QTIP Trusts. The
provisions of subparagraph A above shall not apply to taxes on any property included in my
estate solely because of a power of appointment which I possess over such property but have not
exercised, or on any property in which I have a qualified terminable interest.
EIGHTH: Executor. I appoint PNC BANK, N.A., or its successors in interest, to
serve as the executor (the "Executor") of this Will. In the event of its unwillingness to so serve,
then I appoint my Granddaughter, CINDY L. JOHNSON.
NINTH: Trustee. I appoint PNC BANK, N.A., or its successors in interest, to
serve as the trustee (the "Trustee"} of any trust created under this Will
Page 9
TENTH: Fiduciary Compensation and Bond.
A. Compensation Permitted. Any individual executor or trustee serving
hereunder shall be entitled to compensation which may be commensurate with his or her services
to my estate or to any trust created hereunder. Any corporate executor or trustee serving
hereunder shall be entitled to compensation for its services hereunder in accordance with its
schedule of charges in effect from time to time during the period in which its services are
performed.
B. Bond not Required. Under no circumstances shall any executor or
trustee appointed hereunder be required to post bond in any jurisdiction.
ELEVENTH: Miscellaneous.
A. Headings. The bold headings used throughout this Will are for
convenience only. I do not intend such headings to be used in the construction and interpretation
of this Will.
B. Number and Gender. Except where the context clearly indicates
otherwise, all references to the singular shall include the plural and vice-versa (including but not
limited to the term "trustee"} and masculine pronouns shall include the feminine and vice-versa.
WITNESS my hand this day of May 2009
LMER H. P TTEIGER
Page 10
Signed, published and declared by the above named testator; ELMER H. POTTEIGER,
as the testator's last Will in the presence of us who at the testator's request, in the testator's
presence and in the presence of each other have hereunto subscribed our names as witnesses.
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Page 11
C U ^ , ~ ~ ~ ~J , IJ ~, rat ~'~ ? I1 C _ d fl '( I` G , ~ r ~) ~ P , 2
GENERA, AMENDMENT TO RL~VOCABLE EYVYNG TRUST AGIEEMENT
T4: lr?z~ML'R T-T, POTTEICrER and ADON'N'A D. POTTErGEIZ, AS TRUSTEE(S) tTNDER THE
TIDE E~,MEii ~I. kOTTEYGE~2 AiVD ADONIVA n. pOT7'EYGER
REVOCABLE Y.Y'VYNG TRUST AGREEMENT
Dated: December 31, 2003
Pursuant to the right reserved to us, as Settlors under Article One of the above Agreement, eve
amend THE ELMER R, pOTTEYGER ANA ADONN'A n. POTTEIGER ~`VOCA~3LE Y,Y`VY1V'G.
TRUST AGREEMENT as follo~rs:
We amend A~.-ticle, IV, Section 4.04(1), of the n~ust Agreement and substitute therefore the
following:
The Trustee sYtall apply and distribute the net income and principal of each of the shares of the
resulting Trust Estate, after giving effect to the section of this Trust Agreement entitled "Special
Directives" to the follo~vving Beneficiaries in the indicated fractional shares:
Caroler:e A. Stor~ew
Carley A. Watkins .
Cltrrstrrea .Aran Watlrins
Natl~araiel J"~rcob Watki-es
Ci,:rly ~. Joliycsorl
Nicole Jol~r~sora
g~~
DATED this
20/100
16/100
16/100
16/100
I G/100
16/100
day of ~p
r
~~ ~~
SETTLOR
SETTLOTt A
WIµ SS
(Printed Name of Witness)
GIVEN UNDER M`Y' I~AND nd seal of office on this the ~ day of
Cx~-~..e >~~.
C
ota Public, Commonwealt of ennsylvsniA
COM~MONWI:A~TH OF P~INeYLVANIA
NOTAP~IAL SEAL
NICOLE L_. HENRY, Notary pu~llo
Page I of I. Carlisle eoro, Cumberland Courtly ,
My Co~tmissJon Ex~lres E-.ptil 1A, 2A05
Received Time Jun, 15. 20`0 11,18AMrNo,0089
~~
12C7STEE A/
~ ,~ ~
,< <
( rioted Name of Witness)
~V~CA~~JIJ ~1 T l~r t3 r~l\~S~ ~1V~'17A~l,Tr~,
~~
THIS. ~. GREEMENT AND DECLARATION OF TRUST, made effective the -1~ day of
~' ~ ~ fir' ~_, 20~ , bettiveen ELMER H. POTTEIGER AND ADONTjA D. POTTEIGER,
husband and wife, residents of the County of Cumberland, Commonwealth of Pennsylvania, as Grantors,
ELMER H. POTTEIGER AND A.DONNA D. POTTEIGER, as Settlors, and ELMER H. POTTEIGER
AND ADONNA D. POTTEIGER, as Co-Trustees;
WIT'NESSETH;
WHEREAS, in order to provide the future comfort and security of themselves and the other
beneficiaries hereafter mentioned, Grantors desire to create a revocable trust for the purposes hereinafter
set forth;
ARTICLE ONE
Terms of the Trzcst
Section 1.41 -Trust Estate Defined
NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein contained, this
Revocable Trust is formed to hold title to real and personal property for the benefit of the. Settlors of this
Trust and to provide for the orderly use and transfer of these assets upon the death of the Settlors. The
"Trust Estate" is defined as all property transferred or conveyed to and received by the Trustee held
pursuant to the terms of this instrument. The Trustee is required to hold; administer, and distribute this
property as provided in this Trust Agreement.
The name of this Trust Agreement shall be:
THE ELMER H. POTTEIGER AND ADONNA D. POTTEIGER
REVOCABLE LNING TRUST AGREEMENT
N
~~ ~~ ~ >,
DATED ~~~,~~''~~~~ --~~ , 20 `~~
Section 1.02 -Definitions of Terms
Ln the interpretation or construction of the provisions of this Trust Agreement, the following words and
phrases shall have the meanings set forth below:
1. The term "Husband" shall mean ELMER H. POTTEIGER
2. The term "Wife" shall mean ADONNA D. POTTEIGER.
3. The term "Settlor" shall refer individually and collectively to Husband and Wife.
4. The term "Descendant" shall mean the lawful issue of a deceased parent in the line of
descent, but does not include the issue of any parent who is a descendant of the deceased
person in question and who is living at the time in question.
REVOCABLE LIVING TRUST AGREEMENT
Page 1
5. The terms "Child" and "Descendant" include any issue born to decedent, a child legally
adopted by the decedent, and a posthumous child of a decedent. A posthumous child is to
be considered as living at the time of his or her parent's death.
6. The term "Survives" or "Surviving", unless otherwise indicated herein, shall be construed
to mean surviving the decedent for at least sixty (60) days. If the person referred to dies
within sixty (60) days of the death of the decedent, the reference to him or her will be
construed as if he or she had failed to survived the decedent; provided, however, that any
such person will have, during such period, the right to the use and enjoyment as a life
tenant of all property in which his or her interest will fail by reason of death during such
period.
7. The term "Issue" will include all natural and adopted children, if applicable, and
descendants and those legally adopted into the line of descent.
8. The term "Per Stirpes" means strict per stirpes and does not mean per capita with
representation. Beneficiaries entitled to take under a "per stirpes" clause will include
both natural and adopted children and their descendants.
9. The terms "Trust Assets" and "Trust Estate" include all assets of any trust created
hereunder and income derived from such. assets and all proceeds of any description
derived from the sale, exchange, or other disposition of such assets.
10. When required to give reasonable effect to the context in which used, pronouns in the
masculine, feminine, or neuter gender include each other, and nouns and pronouns in the
plural or singular number include each other.
Section 1.03 -Trustee Designation
Husband and wife are hereby designated as Co-Trustees. The Co-Trustees shall serve jointly and
severally and either shall have full authority to act for the Trust independently. Should either husband or
wife become unable because of death, incapacity, or other cause to serve as a Co-Trustee, or should either
resign as Co-Trustee before the natural termination of this Trust, the remaining Co-Trustee, husband or
wife, shall thereafter serve as sole Trustee. The term "Trustee" as used in this Trust Agreement shall refer
collectively to husband and wife so long as they serve as Co-Trustees, to the spouse who serves as the
sole Trustee, and/or to any Successor Trustee who assumes the role of Trustee. These Trustees shall
serve in the order as provided in Section 9.01 of this Trust Agreement.
Section 1.04 -Additions to Trust Properties
The Trustee, at any time during the continuance of this Trust in his or her sole discretion
after consideration of the possible tax consequences to all concerned, is authorized to
receive into the Trust additions of cash and other properties from any source whatsoever,
whether by gift, will, or otherwise. However, the Trustee shall accept all assets which
any person or persons may give, devise, or bequeath by Last Will and Testament to this
Trust, and shall accept all assets transferred to this Trust pursuant to the provisions of any
other Trust document or documents.
Z. In addition, any person or persons may designate this Trust as the Beneficiary, Primary or
Contingent, of any death benefits to include insurance benefits, pension benefits, or other
benefits. Until such benefiis mature, the Trustee shall have no responsibility with respect
to those benefits.
REVOCABLE LIVING TRUST AGREEMENT
Page 2
Section 1.05 -Apportionment
The Trustee of the Trust is directed to apportion receipts and expenditures of the types described below
between principal anti income as follows:
1. Whenever the principal, or any part thereof, of the Trust property is invested in securities
purchased at a premium or at a discount, any premium will be charged against principal
and any discount will be credited to principal;
2. Any stock dividends and rights to purchase additional stock issued on securities held in
trust will be treated as principal. All other dividends, except Liquidating distributions,
will be treated as income; and
3. The amount of any applicable depletion allowance for federal income tax purposes will
be treated as income.
Section 1.06 -Administration of Trust During Our Lifetime
During our lifetime, the trust shall be held and administered as follows:
1. All property and other assets transferred to this trust shall be allocated to and held in
separate shares, the first such share being designated the "Elmer H. Potteiger Trust
Share" and the second share being designated the " Adonna D. Potteiger Trust Share".
2. Each Grantor's separate Trust Share shall be composed of the assets as follows:
a. The Grantor's one-half interest in jointly held property transferred to the Trust;
and
b. The Grantor's individually owned property which is transferred to the Trust.
While each share shall be held and administered separate from the other, for tax and accounting
purposes, the Trustee is authorized to hold or invest the separate shares in common investments
and co-ownership of assets.
3. The Trustee shall pay to or apply for the benefit of ELMER H. POTTEIGER all of the
net income of the ELMER H. POTTEIGER Trust Share, in convenient installments, not
less often than quarter-annually, and in addition thereto, shall pay so much of the income
and principal of such Trust Share to or for the benefit of ELMER H. POTTEIGER as he
may direct from time to time, or in the absence of a direction, as the Trustee may
determine to be advisable for his medical care, support, maintenance, and general
welfare.
4. The Trustee shall pay to or apply for the benefit of ADONNA D. POTTEIGER all of the
net income of the ADONNA D. POTTEIGER Trust Share in convenient installments, not
less often than quarter-annually, and in addition thereto, shall pay so much of the income
and principal of such Trust Share to or for the benefit of ADONNA D. POTTEIGER as
she may direct from time to time, or in the absence of a direction, as the Trustee may
determine to be advisable for her medical care, support, maintenance; and general
welfare.
REVOCABLE LIVING TRUST AGREEMENT
Page 3
All property that a Settlor transfers to the Trustee pursuant to this instrument which was
community property, quasi-community property, or separate property at th:. time of the
transfer shall remain respectively community property, quasi-community property, or the
separate property of the Settlor transferring such property to the Trust.
Community and quasi-community property transferred to the Trustee by the Settlors shall
be their community property and treated as such. This property, as invested and
reinvested, together with the rents, issues, and profits therefrom (hereinafter referred to as
the "Community Estate" or the "Community Property") shall retain its character as
community property during the joint lifetimes of the Settlors in spite of any change in the
situs of the Trust, subject, however, to the provisions of this Agreement.
Section 1.07 -Discretionary Termination
The Trustee may terminate any Trust when, in the opinion of the Trustee, the principal is reduced to such
an extent that it is not in the best interest of the Beneficiary or Beneficiaries to continue the Trust. The
judgment of the Trustee with respect to this decision to ternunate will be final and not subject to judicial
review. If the Trustee terminates a Trust according to this Section, the date the Trust terminates will be
deemed the date fixed for termination of the Trust, and the Trustee will distribute the assets of the
terminating Trust to the Beneficiary or Beneficiaries pursuant to this Agreement.
Section 1.08 -Amendment and Revocation
We hereby retain the following powers, exercisable at any time during our lifetimes:
To withdraw any of the property included in our separate share of the Trust Estate by
giving the Trustee written notice specifying the property so withdrawn, in whi~~h event,
the Trustee shall promptly transfer and deliver such property to us or our designee.
2. To amend the provisions of this Trust declaration in any respect without the necessity of
securing the consent of the Trustee to such changes, in which event, a copy of the
amendment shall be promptly furnished to the Trustee; provided, however, that following
the death of one of us, the survivor shall have no power to amend the terms of the Trust
declaration with respect to the Trust Share of the first of us to die.
To revoke this Trust by giving the Trustee written notice of such revocation, in which
event, the Trustee shall promptly transfer and deliver the property constituting the Trust
Estate to us or our designee together with an accounting therefore; provided, however,
that following the death of one of us, the survivor shall have no power to revoke the
terms of the Trust declaration with respect to the Trust Share of the first of us to die.
Section 1.09 -Revocation or Alteration by Settlor Alone
The rights of revocation, withdrawal, alteration, and amendment reserved in this Article may only be
exercised by the Settlor and may not be exercised by any other person, including an agent, a guardian, or
a conservator.
Section 1.10 -Irrevocability
Except as otherwise provided, on the death of either Settlor, the designation of Beneficiaries of specific
gifts in this Trust shall become irrevocable and not subject to amendment or modif cation.
REVOCABLE LIVING TRUST AGREEMENT
Page 4
Section 1.11 -Settlor. Powers
The surviving Settlor shall be the Trustee unless and until he or she resigns in writing or is determined
incompetent under the terms provided herein. The surviving Settlor shall retain all absolute rights to
discharge or replace any Successor Trustee of any portion or share of the Trust which is revocable by the
surviving Settlor so long as the Settlor is competent.
ARTICLE TWO
Tricst Administration
Section 2.01 -Trust Income
During the j oint lives of the Settlors, the Trustee shall at least annually, unless otherwise directed by both
Settlors in writing, pay to or apply for the benefit of husband and wife, all of the net income from the
Trust Estate in the same proportions as each of the spouse's respective interests in the Trust Estate.
Section 2.02 -Protection of Settlor in Event of Incapacity
During the joint lives of the Settlors, should either Settlor become incapacitated as defined in Section 2.03
below, the Trustee may, in the Trustee's absolute discretion, pay income and principal for the benefit of
the incapacitated Settlor. In addition, the Trustee, in his or her absolute discretion, may pay to or apply,
for the benefit of that Settlor, such sums from the net income and from the principal of the Settlor's
separate Estate as the Trustee believes is necessary or advisable for the medical care, comfortable
maintenance, and welfare of the Settlor.
Section 2.03 -Incapacity
1. A person is determined to be incapacitated if any Trustee or Beneficiary hereunder comes into
possession of any of the following:
a. A jurisdictionally applicable court order holding the party to be legally incapacitated to
act on his or her behalf and appointing a guardian or conservator to act for him or her; or
b. Written certificates which are duly executed, witnessed, and acknowledged of two
licensed physicians, each certifying that the physician has examined the person and has
concluded that, by reason of accident, mental deterioration, or other cause, such person
has become incapacitated and can no longer act rationally and prudently in his or her own
financial best interest; or
c. Evidence which such Trustee or Beneficiary deems to be credible and currently
applicable that aperson -has disappeared, is unaccountably absent, or is being detained
under duress, and that he or she is unable to effectively and prudently look after his or her
own best interests, then in that event and under those circumstances:
1) Such person is deemed to have become incapacitated, as that term is used in this
Trust agreement; and
2) Such incapacity is deemed to continue until such court order, certificates, and / or
circumstances are inapplicable or have been revoked..
REVOCABLE LIVING TRUST AGREEMENT
Page 5
2. A physician's certificate to the effect that the person is no longer incapacitated shall revoke a
certificate declaring the person incapacitated. The certificate which revokes the earlier certificate
may be executed by either the original certifying physician or by two other licensed, board
certified physicians. No Trustee shall be under any duty to institute any inquiry into a person's
possible incapacity. The reasonable expense of any such inquiry shall be paid from the Trust
Assets.
Section 2.04 -Principal Invasion
During the joint lives of the Settlors, should the net income of assets contained in this Trust be
insufficient to provide for the care, maintenance, or support of the Settlors as herein defined, the Trustee
may, in the Trustee's sole and absolute discretion, pay to or apply for the benefit of the Settlors or either
of them, or any of their dependents, such amounts from the principal of the Trust Estate as the Trustee
deems necessary or advisable for the care, maintenance, or support of the Settlors.
Section 2.05 -Residence
If the Settlor's residence property is a part of the Trust, the Settlors shall have possession of and full
management of the residence and shall have the right to occupy it free of rent. Any expenses arising from
the maintenance of the property and from all taxes, liens, assessments, and insurance premiums, are to be
paid from the Trust to the extent that assets are available for payment. It is the intent of the Settlors to
retain all homestead rights available to them under the applicable state Iaw.
ARTICLE TF3REE
Administration upon Death of First Settlor
Section 3.01 -Provisions After The First Death
On the death of either Settlor leaving the other Settlor surviving him or her, the Trustee shall collect all
insurance proceeds payable to the Trustee by reason of such death and all bequests and devises
distributable to the 'Trust Estate.
Section 3.02 -Control of Assets
The surviving spouse may, at any time by written notice, require the Trustee either to make any
nonproductive property of this Trust productive or to convert productive property to nonproductive
property, each within a reasonable time. The surviving spouse may further require the Trustee to invest
part or all of this share of Trust Assets for the purpose of maximizing income rather than growth or
growth rather than income.
Section 3.03 -Division into Shares
Upon the death of either Settlor, if the deceased Settlor is survived by the other Settlor, the
deceased's individual Trust Share, including any additions made by reason of the deceased
Settlor's death, shall be divided into two shares.
2. The Trustee, in his or her sole discretion, may defer the division or distribution of the deceased's
individual Trust Share until six months after the deceased Trustor's death. If the division or
distribution of the deceased's individual Trust Share is so deferred, the deferred division or
distribution shall be made as if it had taken place at the time prescribed above. In addition, ail
REVOCABLE LIVING TRUST AGREEMENT
Page 6
rights given to the Beneficiaries under the provisions of this Trust Agreement which follow shall
be considered to have accrued and vetted as of that prescribed time.
Upon the death of the first Settlor to die ("Predeceased Spouse"), the Trustee shall divide the
deceased's individual Trust Share (which shall include any property which may be added from
the Predeceased Spouse's general estate) as follows:
a. The Trustee shall divide the balance of the deceased Trustor's individual Trust Share into
two (2) separate shares (hereinafter designated as "Share A" and "Share B"). Share B
shall be composed of cash, securities, and/or other property of the deceased's individual
Trust Share (undiminished by any estate, inheritance, succession, death, or similar taxes)
having a value equal to the maximum marital deduction as finally determined in the
Predeceased Spouse's federal estate tax proceedings, less the aggregate amount of marital
deductions, if any, allowed for such estate tax purposes by reason of property or interest
in property passing or which have passed to the Surviving Spouse otherwise than
pursuant to the provisions of this paragraph; provided, however, that the amount of Share
B hereunder shall be reduced by the amount, if any, needed to increase the Predeceased
Spouse's taxable estate (for federal estate tax purposes} to the largest amount that, after
allowing for the unified credit against federal estate tax and the state death tax credit
against such tax (but only to the extent that the use of such state death tax credit does not
increase the death tax payable to any state), will result in the smallest (if any) federal
estate tax being imposed on the Predeceased Spouse's estate. The term "Maximum
Marital Deduction" shall not be construed as a direction by the Predeceased Spouse to
exercise any election respecting the deduction of estate administration expenses, the
determination of the estate tax valuation date, or any other tax election which may be
available under any tax laws, only in such manner as will result in a larger allowable
estate tax marital deduction than if the contrary election had been made. The Trustee
shall have the sole discretion to select the assets which shall constitute Share B. In no
event, however, shall there be included in Share B any assets or the proceeds of any asset
which will not qualify for the federal estate tax marital deduction. Share B shall be
reduced to the extent that it cannot be created with such qualifying assets, The Trustee
shall value any asset selected by the Trustee for distribution in kind as a part of Share B
at the value of such asset at the date of distribution of such asset. The balance of the
deceased's individual Trust Share, after the assets have been selected for Share B, shall
be allocated to Share A.
Share A and Share B shall be administered and distributed as hereinafter set forth.
Section 3.04 -Credit Shelter Trust
If either of the Settlors survives the other, the Trustee shall set apart and hold as a separate trust (the
"Credit Shelter Trust") the assets referred to as Share A in Section 3.03 above. The Trustee shall hold,
manage, invest, and reinvest the assets of this Credit Shelter Trust, shall collect the income therefrom, and
shall pay the net income to or for the benefit of the surviving Settlor in convenient installments at least
quarter-annually; provided, however, that the surviving Grantor may elect to pass any portion of said
income to the remainder Beneficiaries of the Trust.
In addition, the Trustee may pay to or for the benefit of the surviving Settlor for the health, education,
maintenance, or support of the surviving Settlor, any part or all of the principal of this Trust, as the
Trustee may determine in its sole discretion, without considering other resources available to the
surviving Settlor. The surviving Settlor shall have the right to demand and receive, from the principal of
this Trust in each of its fiscal years, the greater of five thousand dollars ($5,000.00) or five percent (5%}
REVOCABLE LIVING TRUST AGREEMENT
Page 7
of the fair market value of such principal determined as of the last day of such fiscal year. Such right
shall lapse to the e~aent it is not exercised in any year. Any commission payable with respect to principal
so withdrawn shall be charged against such principal.
No person, who at any time is acting as Trustee hereunder, shall have any power or obligation to
participate in any discretionary authority which the Settlor has given to the Trustee to pay principal or
income to such person, or for his or her benefit or in relief of his or her legal obligations; provided,
however, that if an individual Trustee has discretion to invade principal for himself or herself and such
discretionary authority is limited by an ascertainable standard, then such Trustee may invade principal (if
limited by such standard) for himself or herself, but not in relief of his or her legal obligations..
The plan of distribution and all terms of this Credit Shelter Trust shall be irrevocable and unamenable at
any time after said Credit Shelter Trust comes into being.
The Credit Shelter Trustee(s) shall invest the assets of the Credit Shelter Trust to produce a reasonable
income for the benefit of the surviving Grantor without subjecting the principal to unreasonable risk of
loss. The Credit Shelter Trustee(s) shall be authorized and empowered to invest, reinvest, manage,
transfer, and convey any and all property held in this Credit Shelter Trust, including all powers now or
hereafter conferred upon Trustees by applicable state law, and also those power appropriate to the orderly
and effective administration of the Trust.
The Credit Shelter 'Trustee(s) shall make a written accounting to all income and remainder Beneficiaries
or to their guardians at least annually and at the time that all assets of this Credit Shelter Trust are
distributed. Said accounting shall consist of a record showing assets on hand at the time of the last
accounting, plus additions, minus expenses and distributions, which shall equal current assets on hand.
The Credit Shelter Trustee(s) shall not be required to obtain authority or approval of any court in the
exercise of any power conferred upon the Trustee(s), nor shall said Trustee(s) be required to make
accountings or reports to any court.
Upon the death of the surviving Settlor, any accrued income shall be paid to the estate of the surviving
Settlor and the remaining principal of this Credit Shelter Trust shall be held, administered, and disposed
of in accordance with the dispositive provisions of this agreement.
Section 3.05 -Qualified Terminable Interest Trust
If either of the Grantors survives the other and there are assets allocated to Share B described in Section
3.03 above, then the Trustee shall set apart said assets and hold them as a separate trust (the "Qualified
Terminable Interest Trust"). The Trustee shall hold, manage, invest, and reinvest the assets of this
Qualified Terminable Interest Trust, shall collect the income therefrom, and shall pay the set income to or
for the benefit of the surviving Grantor in convenient installments at least quarter-annually.
Upon the surviving Grantor's death, any accrued, undistributed income shall be distributed to said
surviving Grantor's estate. The remaining principal shall be added to and become part of the Credit
Shelter Trust and shall be held and administered and disposed of in accordance with the plan of
distribution for the Credit Shelter Trust as provided in Sections 3.04 and 4.03, after provision has first
been made for the payment of any estate, inheritance, transfer, succession, or other death taxes, payable
by reason of the inclusion of the value of the Trust property in said surviving Grantor's estate.
The Trustee(s) of the Qualified Terminable Interest Trust are hereby authorized, in the Trustee(s) sole
discretion, to determine whether to elect (under Section 2056(b)(7) of the Internal Revenue Code) to
qualify all or a specific portion of the Qualified Terminable Interest Trust created herein for the federal
estate tax marital deduction. The Trustees} of the Qualified Terminable Interest Trust, in exercising such
REVOCABLE LIVING TRUST AGREEMENT
Page 8
discretion; shal_1 attempt to minimize, or eliminate if possible, the federal estate tax payable. by the estate
of the decedent spouse's estate.
However, if the Trustee(s) of the Qualified Terminable Interest Trust determine that it is in the best
interest of the persons who may receive any assets after the decedent spouse's death and after the
surviving Grantor's death to pay same federal estate tax in the decedent spouse's estate, taking into
consideration any other tax that is to be paid because of the decedent spouse's death and the surviving
Grantor's death, and any income tax liability that may be affected by the election, the Trustee(s) of the
Qualified Terminable Interest Trust may elect to take a marital deduction that does not reduce the tax to
zero if the payment of the tax will not jeopardize the ability of the Qualified Terminable Interest Trust to
provide the surviving spouse with the level of support and maintenance contemplated by this Declaration
of Trust. The decision of the Qualified Terminable Interest Trustee(s) to make this election shall be final
and binding on all persons.
The Trustee(s) of the Qualified Terminable Interest Trust is (are) authorized and empowered to invest,
reinvest, transfer, and convey any and all property held in this Qualified Terminable Interest Trust. This
includes all power now or hereafter conferred upon Trustees by applicable state law, and also those
powers appropriate to the orderly and effective administration of the Trust.
The Trustee(s) shall make a written accounting to the surviving Grantor at least annually and shall make a
written accounting to all remainder Beneficiaries at the time that all assets of this Qualified Terminable
Interest Trust are distributed.
Section 3.06 -Power to Appoint Agents
The surviving spouse shall have the right to retain an accountant and / or an attorney at law for
professional services on behalf of the Trust Estate or Estates herein. The surviving spouse shall not be
responsible for the acts of such agents beyond his or her obligation to use reasonable care in the selection
of such agents.
Section 3.07 -Maximum Marital Deduction
Except as otherwise expressly stated herein, the term "Maximum Marital Deduction" shall not be
construed as a direction by the deceased Settlor to exercise any election respecting the deduction of Estate
administration expenses, the determination of the Estate tax valuation date, or any other tax election
which may be available under any tax laws, only in such manner as will result in a larger allowable Estate
tax marital deduction than if the contrary election had been made.
Section 3.08 -Trust Income After The First Death
Following the death of either Settlor and until the death of the surviving Settlor, the Trustee shall, at least
annually, pay to or apply for the benefit of the surviving Settlor all of the net income from the Trust
Estate.
Section 3.09 -Simultaneous Death
If the Settlors should die under circumstances which would render it doubtful as to which Settlor died
first, it shall be conclusively presumed for the purposes of this Trust that Elmer H. Potteiger died first. If
any other Beneficiary and a Settlor should die under such circumstances, it shall be conclusively
presumed that the Beneficiary predeceased such Settlor.
REVOCABLE LIVING TRUST AGREEMENT
Page 9
the age of 21 years, the property shall thereupon be distributed to him or her free af~ trust unless
otherwise stated in this Agreement. If the minor should die before attaining the age of majority,
the property shall then be paid and distributed to the estate of the minor.
If all of the Settlor's Beneficiaries and their children should fail to survive the final distributian of
the Trust Estate, all of the Trust Estate not disposed of as hereinabove pro~~ided shall be
distributed as provided for in this Trust Agreement.
Section 4.05 -Principle of Representation
Unless indicated differently in this Trust Agreement or in the "Special Directives" section that follows, in
the event any of the named Beneficiaries should predecease both Settlors, all of that person's share of the
Trust Estate is to be divided equally among the deceased Beneficiary's children or issue per stirpes. In
the event the predeceased Beneficiary leaves no surviving children or issue, then all of that person's share
of the Trust Estate shall be divided equally among the remaining Beneficiaries per stirpes.
If a Beneficiary of the Settlors survives both Settlors, but should fail to survive to collect his or her share
at distribution, that share shall pass to the surviving issue of that deceased Beneficiary per stirpes and with
right of representation.
ARTICLE FIVE
Trustee Powers & Provisions
Section 5.01 -Non-Income Producing Property
During the joint lives of the Settlors, the Trustee is authorized to retain in the Trust, for so long as the
Trustee may deem advisable, any property received by the Trustee from the Settlors, whether or not such
property is of the character permitted by Iaw for the investment of Trust funds.
Section 5.02 -Trustee Powers
The Trustee shall have all powers conferred upon a Trustee by law for the orderly administration of the
Trust Estate. If any property is distributed outright under the provision of this Trust Agreement to a
person who is a minor, distribution may be made under the Pennsylvania Uniform Transfer to Minors Act
("PAUTMA"). The Trustee is further authorized to sign, deliver, and/or receive any documents necessary
to carry out the powers contained within this Section.
The Trustee of any trust created under this Trust Agreement (including any substitute or successor
Trustee) will have and be subject to all of the powers, duties, and responsibilities granted or imposed by
the Pennsylvania Consolidated Statutes (20 Pa. C.S. Section 101 et seq.) as such Statute may provide at
the time of administration of the Trust, except to the extent that the same are inconsistent with the
provisions of this Agreement.
Section 5.03 -Specific Powers of Trustee
In addition, the Trustee will have the following specific powers:
Trust Estate: The Trustee may leave invested any property coming into its hands hereunder in
any form of investment even though the investment may not be of the character of investments
permitted by law to trustees, without liability for loss or depreciation in value. The Trustee may
sell, mortgage, exchange, or otherwise dispose of and reinvest property which may at any time be
REVOCABLE LIVING TRUST AGREEMENT
Page 11
apart of the Trust Estate upon such terms and conditions as the Trustee may deem advisable.
The Trustee may invest and reinvest the Trust Assets from time to time in any property, real,
personal, or mixed, including without limitation, securities of domestic and foreign corporations
and investment trusts or companies, bonds, debentures, preferred stocks, common stocks,
mortgages, mortgage participation, and interests in common trust funds, all with complete
discretion to convert realty into personalty or personalty into realty or otherwise change the
character of the Trust Estate, even though such investment (by reason of its character, amount,
proportion to the total Trust Estate, or otherwise) would not be considered appropriate for a
fiduciary apart from this provision and even though such investment caused part or all of the total
Trust Estate to be invested in investments of one type or of one business or company.
2. Holding Property: The Trustee may hold property in the Trustee's name, as trustee, or in the
name of a. nominee without disclosing the Trust.
Release of Power: If the Trustee deems it to be in the best interest of the Trust and its
Beneficiaries, the Trustee, by written instrument signed by such Trustee, will have the power and
authority to release, disclaim, or restrict the scope. of any power or discretion granted in this Trust
Agreement or implied by Iaw.
4. Agents, Employees: The Trustee may employ one or more agents to perform any act of
administration, whether or not discretionary, including attorneys, auditors, investment managers,
or others, as the Trustee shall deem necessary or advisable. The Trustee may compensate agents
and other employees and may delegate to them any and all discretions and powers.
5. Leases: The Trustee may lease any Trust Assets generally or for oil, gas, and mineral
development, even though the lease term may extend beyond the term of the Trust of which the
property i.s a part. The Trustee may enter into any covenants and agreements relating to the
property so leased or concerning any improvements which may then or thereafter be erected on
such property.
6. Common Funds: The Trustee may hold any of the Trust Assets in a common fund with property
from other trust estates and may make investments jointly with any other trust, the property of
which is included in the common fund.
7. Securities: With respect to securities held in the Trust Estate, the Trustee may exercise all the
rights, powers, and privileges of an owner, including but not limited to, the power to vote, give
proxies, and to pay assessments and other sums deemed by the Trustee necessary for the
protection of the Trust Estate. In addition, the Trustee may participate in voting trusts,
foreclosures, reorganizations, consolidations, mergers, and liquidations, and in connection
therewith, to deposit securities with and transfer title to any protective or other committee under
such terms as the Trustee may deem advisable. In addition, the Trustee may exercise or sell stock
subscription or conversion rights and may accept and retain as an investment any securities or
other property received through the exercise of any of the foregoing powers, regardless of any
limitations elsewhere in this instrument relative to investments by the Trustee. In addition, The
Trustee may Buy, sell exchange, assign, convey, settle and exercise commodities future contracts
and call and put options on stocks and stock indices traded on a regulated options exchange and
collect and receipt for all proceeds of any such transactions. Establish or continue option accounts
for the principal with any securities of a futures broker. In general, exercise all powers with
respect to commodity and option transactions that the principal could if present.
8. Purchases from Estate: The Trustee may purchase property of any kind from the Executor or
Administrator of our Estates.
REVOCABLE LIVING TRUST AGREEMENT
Page 12
4. Lending: The Trustee may make loans, secured or unsecured, to the Executor or Administrator
of our Estates, to any Beneficiary of the Trust, or to the Trustee. Further, the Trustee may use
Trust Assets to guarantee obligations of any income Beneficiary of the Trust (unless such
Beneficiary is serving as Trustee}.
1 d. Distributions to or for Beneficiaries: The Trustee may make any distribution contem lated b
this Trust Agreement (1) to the Beneficia 2 if the Beneficiary is under a legal disability or f
the Trustee determines that the Beneficiary s unable to ro
person furnishing support, maintenance, or education for thel Benefigia his or her affairs, to a
ry or with whom the
Beneficiary is residing for expenditures on the Beneficiary's behalf; or (3) if the Beneficiary is a
minor, to a trustee of an existing trust established exclusively for the benefit of such minor,
whether created by this Trust Agreement or otherwise, or to a custodian for the Beneficiary, as
selected by the Trustee, under the Pennsylvania Uniform Transfer to Minors Act. Alternatively,
the Trustee may apply all or a part of the distribution for the Beneficiary's benefit. Any
distribution under this paragraph will be a full discharge of the Trustee with respect thereto. On
any partial or final distribution of the Trust Assets, the Trustee may apportion and allocate the
assets of the Trust Estate in cash or in kind, or partly in cash and partly in kind, or in undivided
interests in the manner deemed advisable at the discretion of the Trustee and to sell any property
deemed necessary by the Trustee to make the distribution. The Trustee may distribute gifts of up
to the maximum allowable per year per donee out of principal and/or interest.
11. Insurance: The Trustee may purchase new life insurance, pay the premiums on existing life
insurance on the life of any Trust Beneficiary, purchase annuities (either commercial or private)
from any corporation, trust, or individual, and may procure and pay the premiums on other
insurance of the kinds, forms, and amounts deemed advisable by the Trustee to protect the
Trustee and the Trust Estate.
12. Borrowing: The Trustee may borrow money from the Trust Estate and others. To secure the
repayment thereof, the Trustee may mortgage, pledge, or otherwise encumber part or all of the
Trust Assets, and in connection with the acquisition of any property, the Trustee may assume a
liability or may acquire property subject to a liability.
13. Repairs: The Trustee may make ordinary and extraordinary repairs and alterations to buildings
or other Trust Assets.
14. Reserves: The Trustee may establish such reserves out of income for taxes, assessments, repair,
and maintenance as the Trustee considers appropriate.
15. Continuation of Business: The Trustee may continue any business or businesses in which the
Trust has an interest at the time of the Settlors' death for so long as the Trustee may, in its sole
discretion, consider necessary or desirable, whether or not the business is conducted by the
Settlors at the time of their death individually, as a partnership, or as a corporation wholly owned
or controlled by them, with full authority to sell, settle, and discontinue any of them when and
upon such terms and conditions as the Trustee may, in its sole discretion, consider necessary or
desirable.
16. Retain Property for Personal Use: The Trustee may retain a residence or other property for the
personal use of a Beneficiary and allow a Beneficiary to use or occupy the retained property free
of rent and maintenance expenses.
REVOCABLE LIVING TRUST AGREEMENT
Page 13
17. Dealings with Third Parties: The Trustee may deal with any person or entity regardless of
relationship or identity of any Trustee to or with that person or entity. The Trustee may hold or
invest any part of or all of the Trust Estate in common or undivided interests with that person or
entity.
18. Partitions, Divisions, Distributions: The Trustee will have the power to make all partitions,
divisions, and distributions contemplated by this Trust Agreement. Any partitions, divisions, or
other distributions may be made in cash, in kind, or partly in cash and partly in kind, in any
manner that the Trustee deems appropriate (including composing shares differently). The Trustee
may determine the value of any property, which valuation will be binding on all Beneficiaries.
No adjustments are required to compensate for any partitions, divisions, or distributions having
unequal consequences to the Beneficiaries.
19. Claims, Controversies: The Trustee may maintain and defend any claim or controversy by or
against the Trust without the joinder or consent of any Beneficiary. The Trustee may commence
or defend at the expense of the Trust any litigation with respect to the Trust or any property of the
Trust Estate as the Trustee may deem advisable. The Trustee may employ, for reasonable
compensation, such counsel as the Trustee shall deem advisable for that purpose.
20. Merger of Trusts: If at any time the Trustee of any trust created hereunder shall also be acting as
trustee of any other trust created by trust instrument or by trust declaration for the benefit of the
same beneficiary or beneficiaries and upon substantially the same terms and conditions, the
Trustee is authorized and empowered, if in the Trustee's discretion such action is in the best
interest of the Beneficiary or Beneficiaries, to transfer and merge all of the assets then held under
such trust created pursuant to this Trust Agreement to and with such other trust and thereupon to
terminate the trust created pursuant to this Trust Agreement. The Trustee is further authorized to
accept the assets of any other trust which may be transferred to any trust created hereunder and to
administer and distribute such assets and properties so transferred in accordance with the
provisions of this Agreement.
21. Termination of Small Trust: Any corporate Trustee which is serving as the sole Trustee of any
Trust or any Share thereof may at any time terminate such Trust or Share if, in the Trustee's sole
judgment, the continued management of such Trust or Share is no longer economical because of
the small size of such Trust or Share and if such action will be deemed to be in the best interests
of the Beneficiary or Beneficiaries. In case of such termination, the Trustee will distribute
forthwith the share of the Trust Estate so terminated to the income Beneficiary, per stirpes. Upon
such distribution, such Trust or Share will terminate and the Trustee will not be liable or
responsible. to any person or persons whomsoever for its action. The Trustee will not be liable for
failing or refizsing at any time to terminate any Trust or a Share thereof as authorized by this
paragraph.
22. Power to Determine Income and Principal: Dividends payable in stock of the issuing
corporation, stock splits, and capital gains will be treated as principal. Except as herein otherwise
specifically provided, the Trustee will have full power and authority to determine the manner in
which expenses are to be borne and in which receipts are to be credited as between principal and
income. The Trustee has the power to determine what will constitute principal or income and
may withhold from income such reserves for depreciation or depletion as the Trustee may deem
fair and equitable. Tn determining such matters, the Trustee may give consideration to the
provisions of the Pennsylvania Statutes (or its successor statutes) relating to such matters, but it
will not be bound by such provisions.
REVOCABLE LIVING TRUST AGREEMENT
Page 14
23. Generation-Skipping Taxes and Payment: If the Trustee considers any distribution or
termination of an interest or power hereunder as a distribution or termination subject to a
generation-skipping tax, the Trustee is authorized: y
24. To augment any taxable distribution by an amount which the Trustee estimates to be sufficient to
pay such tax and charge the same to the particular trust to which the tax related without
adjustment of the relative interests of the Beneficiaries;
a. To pay such tax, in the case of a taxable termination, from the particular trust to which
the tax relates without adjustment of the relative interests of the Beneficiaries. If such tax
is imposed in part by reason of the Trust Assets, the Trustee will pay only the portion of
such tax attributable to the taxable termination hereunder taking into consideration
deductions, exemptions, credits, and other factors which the Trustee deems advisable;
arLd
b. To postpone final termination of any particular trust and to withhold any portion or all of
the Trust Estate until the Trustee is satisfied that the Trustee no longer has any liability to
pay any generation-skipping tax with reference to such trust or its termination.
Section 5.04 -Special Provision for S Corporation Stock
Notwithstanding what is otherwise provided in this Trust Agreement, if at any time the Trust contains any
stock of a corporation which elects or has elected treatment as an "S Corporation" as defined by Section
1361(a)(1) of the Internal Revenue Code (or any corresponding successor statute), such stock will be
segregated from the other assets of such and treated as a separate trust. The Trustee will further divide the
separate trust into shares for each Beneficiary and such shares will be distributed outright or held in trust
as herein provided.. In addition, all other provisions of this Trust Agreement will apply to each share held
in trust (and constituting a separate trust) except that the Trustee will distribute all of the income from
each separate trust to its Beneficiary in convenient installments at least annually. It is the Settlors' intent
that each separate trust will be recognized as a "Qualified Subchapter S Trust" ("QSST") under Section
1361(d)(2) of the :internal Revenue Code (or any corresponding successor statute). Notwithstanding any
provisions of this Trust Agreement to the contrary, the Trustee's powers and discretions with respect to
the administration of each separate trust (including methods of accounting, bookkeeping, making
distributions, and characterizing receipts and expenses) will not be exercised or exercisable except in a
manner consistent with allowing each separate trust to be treated as a QSST as above described.
ARTICLE SIX
Trustee Fower-s with a Probate Estate
Section 6.01 -Coordination with Settlor's Probate Estate
1. At any time during the continuance of this Trust, including subsequent to the death of either
Settlor, the Trustees may, in their sole and uncontrolled discretion, distribute to the deceased
Settlor's Probate Estate cash and / or other property as a Beneficiary of the Trust.
2. All other provisions to the contrary notwithstanding, under no circumstances shall any restricted
proceeds, as hereinafter defined, be either directly or indirectly: (i) distributed to or for the benefit
of the Settlor's Executors or the Settlor's Probate Estate; or (ii) used to pay any other obligations
of the Settlor's Estate. The term "Restricted Proceeds" means:
REVOCABLE LIVING TRUST AGREEMENT
Page 15
a. A11 qualified plans, individual retirement accounts, or similar benefits which are received
or receivable by any Trustee hereunder, and which are paid solely to a Beneficiary other
than the Executor of the Settlor's Gross Estate for Federal Estate Tax purposes; and
b. All proceeds of insurance on the Settlor's life which, if paid to a Beneficiary other than
the Settlor's Estate, would be exempt from inheritance or similar death taxes under
applicable state death laws.
Section 6.02 -Direction to Minimize Taxes
In the administration of the Trust hereunder, its Fiduciaries shall exercise all available tax related
elections, options, and choices in such a manner as they, in their sole but reasonable judgment (where
appropriate, receiving advice of tax counsel), believe will achieve the overall minimum in total combined
present and reasonably anticipated future administrative expenses and taxes of alI kinds. This applies not
only to said Trust, but also to its Beneficiaries, to the other Trusts hereunder and their Beneficiaries, and
to the Settlor's Probate Estate.
Without limitation on the generality of the foregoing direction (which shall to that extent supercede the
usual fiduciary duty of impartiality), such Fiduciaries shall not be accountable to any person interested in
this Trust or to Settlor's Estate for the manner in which they shall carry out this direction to minimize
overall taxes and expenses (including any decision they may make not to incur the expense of a detailed
analysis of alternative choices). Even though their decisions in this regard may result in increased taxes
or decreased distributions to the Trust, to the Estate, or to one or more Beneficiaries, the Fiduciaries shall
not be obligated for compensation readjustments or reimbursements which arise by reason of the manner
in which the Fiduciaries carry out this direction.
Section 6.03 -Judgment and Discretion of Trustee
In the absence of proof of bad faith, alI questions of construction or interpretation of any trusts created by
this Trust Agreement will be finally and conclusively determined solely by the Trustee, according to the
Trustee's best judgment and without recourse to any court. Each determination by the Trustee is binding
on the Beneficiaries and prospective Beneficiaries hereunder, both in being and unborn, as well as all
other persons, firms, or corporations. The Trustee, when exercising any discretionary power relating to
the distribution or accumulation of principal or income or to the termination of any trust, will be
responsible only for lack of good faith in the exercise of such power. Each determination may be relied
upon to the same extent as if it were a final and binding judicial determination. In the event of a conflict
between the provisions of this Trust Agreement and those of the Pennsylvania Statutes, the provisions of
this Agreement will control.
ARTICLE SEVEN
Resolution of Conflict
Section 7.01 -Resolution of Conflict
Any controversy between the Trustee or Trustees and any other Trustee or Trustees, or between any other
parties to this Trust, including Beneficiaries, involving the construction or application of any of the terms,
provisions, or conditions of this Trust shall, on the written request of either or any disagreeing parry
served on the other or others, shall be submitted to arbitration. The parties to such arbitration shall each
appoint one person to hear and determine the dispute and, if they are unable to agree, then the two persons
so chosen shall select a third impartial arbitrator whose decision shall be final and conclusive upon both
parties. The cost of arbitration shall be borne by the losing party or in such proportion as the arbitrator(s)
REVOCABLE LNING TRUST AGREEMENT
Page 16
shall decide. Such arbitration shall comply with the commercial arbitration rules of the American
Arbitration Association, 140 West 5 I st Street, New York, I~rY 10200.
Section 7.02 -Incontestability
The beneficial provisions of this Trust Agreement are intended to be in lieu of any other rights, claims, or
interests of whatsoever nature, whether statutory or otherwise, except bona fide pre-death debts, which
any Beneficiary hereunder may have in Settlor's Estate or in the properties in trust hereunder.
Accordingly, if any Beneficiary hereunder asserts any claim (except a legally enforceable debt j, statutory
election, or other right or interest against or in Settlor's Estate, or any properties of this Trust, other than
pursuant to the express terms hereof, or directly or indirectly contests, disputes, or calls into question,
before any court, the validity of this Trust Agreement, then:
1. Such Beneficiary shall thereby absolutely forfeit any and all beneficial interests of whatsoever
kind and nature which such Beneficiary or his or her heirs might otherwise have under this Trust
Agreement and the interests of the other Beneficiaries hereunder shall thereupon be appropriately
and proportionately increased; and
2. All of the provisions of this Trust Agreement, to the extent that they confer any benef ts, powers,
or rights whatsoever upon such claiming, electing, or contesting Beneficiary, shall thereupon
become absolutely void; and
3. Such claiming, electing, or contesting Beneficiary, if then acting as a trustee hereunder, shall
automatically cease to be a Trustee and shall thereafter be ineligible either to select, remove, or
become a Trustee hereunder.
Section 7.03 -Trust Contests and Specific Omissions
If any beneficiary under this trust, singly or in conjunction with any other person or persons, directly or
indirectly:
1. contests in any court the validity of this trust or, in any manner, attacks or seeks to impair or
invalidate any of its provisions;
2. contests in any court the validity of the Settlor's Trust or, in any manner, attacks or seeks to
impair or invalidate any of its provisions;
3. seeks to obtain an adjudication in any proceeding in any court that this trust or any of its
provisions or that Settlor's Trust or any of its provisions is void;
4. claims entitlement by way of any written or oral contract to any portion of the Settlor's estate,
whether in probate or under this instrument;
5. unsuccessfully challenges the appointment of any person named as Trustee or successor Trustee
o f thi s Trust,
6. objects in any manner to any action taken or proposed to be taken in good faith by the Trustee
Settlor's Trust;
7. objects to any construction or interpretation of this Trust, or any provision of it, that is adopted or
is proposed in good faith by the Trustee;
8. unsuccessfully seeks the removal of any person acting as Trustee of any Trust created under this
instrument;
9. files any creditor's claim in Settlor's estate (without regard to its validity), whether the claim arose
before or after the date of this instrument, but excepting claims for cash advanced or paid for
expenses o.f the Settlor's last illness or funeral paid by said claimant;
REVOCABLE LIVING TRUST AGREEMENT
Page 17
10. attacks or seeks to invalidate any designation of beneficiaries for any life insurance policy on
Settlor's life;
11. attacks or seeks to invalidate any designation of beneficiaries for any pension or IRA or other
form of qualified or non-qualified asset or deferred compensation account, agreement or
arrangement;
12. attacks or seeks to invalidate any trust which Settlor has created or may create during Settlor's
lifetime, or any provision thereof, as well as any gift which Settlor has made or will made during
Settlor's lifetime, whether before or after the date of this instrument;
13. attacks or seeks to invalidate any transaction by which Settlor sold any assets (whether to a
relative of Settlor's or otherwise); or
14. refuses a request of Settlor's Trustee, Executor or other fiduciary to assist in the defense against
any of the foregoing acts or proceedings,
then that person's right to take any interest given to him or her by this trust shall be determined as it would
have been determined if the person had predeceased the execution of this trust instrument without issue
surviving.
The provisions of the foregoing paragraph shall not apply to any disclaimer by any person of any benefit
under this trust or under the Settlor's Trust. In the event that any provision of this Article is held to be
invalid, void or illegal, the same shall be deemed severable from the remainder of the provisions of this
Article and shall in no way affect, impair or invalidate any other provision in this Article; and if such
provision shall be deemed invalid due to its scope or breadth, such provision shall be deemed to exist to
the extent of the scope or breadth permitted by law.
Section 7.04 -Benefits Confidential
The Settlors further declare that it is their desire and intent that the provisions of this Trust Agreement are
to remain confidential as to all parties. The Settlors direct that only the information concerning the
benefits paid to any particular Beneficiary shall be revealed to such individual and that no individual shall
have a right to information concerning the benef is being paid to any other Beneficiary.
ARTICLE EIGHT
General Provisions
Section 8.01 -Distribution in Kind or in Cash
On any division of the assets of the Trust Estate into shares or partial shares, and on any final or partial
distribution of the assets of the Trust Estate, the Trustee, at his or her absolute discretion, may divide and
distribute undivided interests of such assets on a pro rata or non-pro rata basis, or may sell any part of or
all of such assets and may make divisions or distributions in cash or partly in cash and partly in kind. The
decision of the Trustee, either prior to or on any division or distribution of such assets, as to what
constitutes a proper division of such assets of the Trust Estate, shall be binding on all persons interested in
any trust provided for in this Trust Agreement.
REVOCABLE LIVING TRUST AGREEMENT
Page 18
Section 8.02 -Spendthrift Provision
Neither the principal nor the income of the trust shall be liable for the debts of a Beneficiary. Except as
otherwise expressly provided in this Agreement, no Beneficiary of any trust shall have a:~y right, power,
or authority to alienate, encumber, or hypothecate his or her interest in the principal or income of this
Trust in any manner, nor shall the interests of any Beneficiary be subject to the claims of~ his or her
creditors or liable to attachment, execution, or other process of law. The limitations herein shall not
restrict the exercise of any power of appointment or the right to disclaim.
Section 8.03 -Definition of Children
The terms "Child" and "Children" as used in this Agreement mean the lawful issue of a Settlor or of the
Settlors together. This definition also includes children legally adopted by a Settlor or by the Settlors
together.
Section 8.04 -Handicapped Beneficiaries
Any Beneficiary who is determined by a court of competent jurisdiction to be incompetent shall not have
any discretionary rights of a Beneficiary with respect to this Trust, or to their share or portion thereof.
The Trustee shall hold and maintain such incompetent Beneficiary's share of the Trust estate and shall, in
the Trustee's sole discretion, provide for such Beneficiary as that Trustee would provide for a minor.
Notwithstanding the foregoing, any Beneficiary who is diagnosed for the purposes of governmental
benefits (as hereinafter delineated) as being not competent or as being disabled, and who shall be entitled
to governmental support and benefits by reason of such incompetency or disability, shall cease to be a
Beneficiary of this Trust. Likewise, they shall cease to be a Beneficiary if any share or portion of the
principal or income of the Trust shall become subject to the claims of any governmental agency for costs
or benefits, fees, or charges.
The portion of the Trust Estate which, absent the provisions of this section, would have been the share of
such incompetent or handicapped person shall be retained in trust for as long as that individual lives. The
Trustee, at his or her sole discretion, shall utilize such funds for the maintenance of that individual. If
such individual recovers from his or her incompetency or disability and is no longer eligible for aid from
any governmental agency, including costs or benefits, fees, or charges, such individual shall be reinstated
as a Beneficiary after 60 days from such recovery and the allocation and distribution provisions as stated
herein shall apply to that portion of the Trust Estate which is held by the Trustee subject to the foregoing
provisions of this section. If said handicapped Beneficiary is no longer living and shall leave children
then living, the deceased child's share shall pass to those children per stirpes. If there are no children, the
share shall be allocated proportionately among the remaining Beneficiaries.
ARTICLE NIl~E
Successor 7'rzcstee Appointments
Section 9.01 -Trustees
All Trustees are to serve without bond. The following will act as Trustees of any Tnlsts created by this
Trust Agreement, in the following order of succession:
First: The undersigned, Elmer FI. Potteiger and / or Adonna D. Potteiger.
Second: The Surviving Spouse.
REVOCABLE LIVING TRUST AGREEMENT
Page 19
Third: At the death or incapacity of the Sur~riving Spouse, ~'aroline ~l. ~tojier shall
serve as First Successor Trustee.
Last: A Trustee chosen by the majority of Beneficiaries, with a parent or legal guardian
voting for minor Beneficiaries; provided, however, that the children of any
deceased Beneficiary shall collectively have only one vote.
Section 9.02 -Allocation and Distribution of The Trust Assets
The Trustees shall allocate, hold, administer, and distribute the Trust Assets as hereinafter provided:
1. Upon the death of the first Settlor, the Trustee shall make any separate distributions that
have been specified by the deceased Settlor. The Trustee shall also take into
consideration the appropriate provisions of this Article.
2. Upon the death of the Surviving Spouse, the Trustee shall hold, administer, and distribute
the Trust Assets in the manner hereinafter prescribed.
Section 9.03 -Personal Property Distribution
Notwithstanding any provision of this Trust Agreement to the contrary, the Trustee must abide by any
memorandum by the Settlors, particularly that contained in the section entitled "Special Directives"
incorporated into this Trust Instrument, directing the disposition of Trust Assets of every kind including,
but not limited to, furniture, appliances, furnishings, pictures, china, silverware, glass, books, jewelry,
wearing apparel, and all policies of fire, burglary, property damage, and other insurance on or in
connection with the use of property. Otherwise, any personal and household effects of the Settlors shall
be distributed with the remaining assets of the Trust Estate.
Section 9.04 -Liability of Trustee
The Trustee will not be responsible or liable for any loss which may occur by reason of depreciation in
value of the properties at any time belonging to the Trust Estate nor for any other loss which may occur,
except that the Trustee will be liable for each Trustee's own negligence, neglect, default, or willful wrong.
The Trustee will n.ot be liable or responsible for the acts, omissions, or defaults of any agent or other
person to whom duties may be properly delegated hereunder (except officers or regular employees of the
Trustee) if such agent or person was appointed with due care. The Trustee may receive reimbursement
from the Trust Estate for any liability, whether in contract or in tort, incurred in the administration of the
Trust Estate in accordance with the provisions hereof, and the Trustee may contract in such form that such
Trustee will be exempt from such personal liability and that such liability will be limited to the Trust
Assets.
Section 9.05 -Successor Trustees
Any Successor Trustee shall have all the power, rights, discretion, and obligations conferred on a Trustee
by this Trust Agreement. All rights, titles, and interest in the property of the Trust shall immediately vest
in the successor Trustee at the time of appointment. The prior Trustee shall, without warranty, transfer to
the Successor Trustee the existing Trust property. No Successor Trustee shall be under any duty to
examine, verify, question, or audit the books, records, accounts, or transaction of any preceding Trustee;
and no Successor Trustee shall be Liable for any loss or expense from or occasioned by anything done or
neglected to be done by any predecessor Trustee. A Successor Trustee shall be liable only for his or her
own acts and defaults.
REVOCABLE LIVING TRUST AGREEMENT
Page 20
ARTICLE TEN
Rule Against Perpetuities
Section 10.01 -Perpetuities Savings Clause
Notwithstanding any other provision of this instrument, the Trusts created hereunder shall terminate not
later than twenty-one (21) years after the death of the last survivor of all Settlors and any other
Beneficiary or Beneficiaries named or defined in this Trust living on the date of the death of the first
Settlor to die. The Trustee shall distribute remaining Trust principal and all accrued or undistributed net
income hereunder to the Beneficiary or Beneficiaries. If there is more than one Beneficiary, the
distribution shall be in the proportion in which they are Beneficiaries; if no proportion is designated, then
the distribution shall be in equal shares to such Beneficiaries.
ARTICLE ELEVEN
General Provisions
Section 11.01 -Governing Law
It is not intended that the laws of only one particular state shall necessarily govern all questions pertaining
to ali of the Trust hereunder.
1. The validity of the Trust hereunder, as well as the validity of the particular provisions of that
Trust, shall be governed by the laws of the state which has suff cient connection with the Trust to
support such validity.
2. The meaning and effect of the terms of this Trust Agreement shall be governed by the laws of the
Commonwealth of Pennsylvania.
3. The administration of this Trust shall be governed by the laws of the state in which the principle
office of the Trustee then having custody of the Trust's principal assets and records is located.
The foregoing shall apply even though the situs of some Trust Assets or the home of the Settlor, a
Trustee, or a Beneficiary may at some time or times be elsewhere.
Section 11.02 -Invalidity of Any Provision
If a court finds that any provision of this Trust Agreement is void, invalid, or unenforceable, the
remaining provisions of this Agreement will continue to be fully effective.
Section 11.03 -Headings
The use of headings in connection with the various articles and sections of this Trust Agreement is solely
for convenience and the headings are to be given no meaning or significance whatsoever in construing the
terms and provisions of this Agreement.
REVOCABLE LIVING TRUST AGREEMENT
Page 21
- ,.
v; n, ~
Section 11.04 - Ynterr<al ~c~venue Code Termit~olog~
~~c.~)i6~ G.
As used herein, the words "Crc'oss Estate," "Adjusted Gross estate," "Taxable Estate," "Unified Ct•edit,"
"State peath Tax Credit," "Maximum Marital Deduction," "Marital Deduction," and any other word or
words which from the context in which it or they are used refer to the Ynteinal Revenue Code shall be
assigned the same meaning as words have for the purposes of applying the Internal Revenue Code to a
deceased Settlor's Estate. I'~eference to sections of the Internal Revenue Code and to the Internal
Revenue Code steal] refer to the Ynternal Revenue Code amended to the date of such Settlor's death.
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1~'V4CABI.E LIVING T~i~U'ST AG~EIutEN~'
Page 22
Received Time Jun, 15, 2010 11:18AM No. 0089
v v n~ J~ ~ ',, ~~, ~ fi l~~ I n ~ U u n f(
ST'ECYAY, bY~CTY'V'ES
Off'
ELME~ H. POTT'EIC~R
No, 2?65 P, 4
I, ELMER PI. POTTEIGER a resident of the County of CLirnberland, Commonwealth of
Pennsylvania, being of lawful age, and of sound and disposing mind and memory, and not acting under
duress, fraud, or undue influence, hereby make, publish and declare this to be my Special Uirecti~ve, and Z
incorporate TPIE ELMER I~i. POTTErGE12 AID ADON'N't1 D. POTTEIGER RE'~rOCABLE LZ~V'TN"G
TRUST AG12E]/M)/I~T.
~YRST
The natural objects of my affection are:
1 _ My 'Wife - Ador~nrz .D, .Potteiger
2. My Child - C~r-•olrrze A. S~orier
SECOND
Y direct that all estate and inheritance taxes payable as a result of my death, not limited to taxes
assessed on property, shall be paid out of the residue of my Estate, and shall not be deducted or collected
from any League, Devisee, or Beneficiary hereunder,
THIRD
In the event any of my named Beneficiaries should predecease me, all of that person's share of the
Trust Estate shall be divided equally among that pe,rsor~'s children and issue per stirpes. Ian the event any
such p~'edeceased Beneficiary leaves no surviving children or issue, then a]] of that person's sharp shall be
distributed to the remaining primary Beneficiaries in equal shares.
~'O'U'RT~
Tn the event all of my named Beneficiaries and their children and issue predecease me, all of Che
Trust Estate shall be distributed to my heirs at law.
FIFTH
I direct that all outstanding debts and/or loans owed by any Beneficiary shall be forgiven and
deemed as having not existed.
REVOCABZ,E LIVING TRUST ACxREEMEIVT
Page 23
Received Time Jun, 15, 2010 11:18AM No. 0089
5~~~~
I direct that WARREN ~.. STONER, SR_ and WARREN' Y,. STONER, JR_ shall bath be
specifically excluded from receiving any portion of this Trust Estate.
SEVEN~'~
I direct that CAROLINE A STONER's share of this 'T`rust Estate shall be held in Trust until
WARREN L_ STONER, SIZ_ is deceased.
EIGHTH
I direct that, before any distribution of the assets of the Trust Estate to the named Beneficiaries,
certai~i specific distributions, if any, shall be made from the assets as set forth on the list attached hereto
and marked "Exhibit A."
NIN'~'~
I hezeby acknowledge and accept the "Special Directives," if any, of my spouse_
R.EVpCA.BLE LIVING TRUST AGREEMENT
Page 24
Received Time Jun. 15. 2010 11;18AM No, 0089
SPECIAL 1DIRFCTIVES
OF
ADONNA D. POTTEIGER
I, ADONNA D. POTTEIGER, a resident of the County of Cumberland, Commonwealth of
Pennsylvania, being of lawful age, and of sound and disposing mind and memory, and not acting under
duress, fraud, or undue influence, hereby make, publish and declare this to be my Special Directive, and I
incorporate THE ELMER H. POTTEIGER AND ADONNA D. POTTEIGER REVOCABLE LNING
TRUST AGREEMENT.
FIRST
The natural objects of my affection are:
1. M:y Husband - Elmer H. Potteiger
2. My Child - Caroline A. Stoner
SECOND
I direct that all estate and inheritance taxes payable as a result of my death, not limited to taxes
assessed on property, shall be paid out of the residue of my Estate, and shall not be deducted or collected
from any League, Devisee, or Beneficiary hereunder.
THIRD
In the event any of my named Beneficiaries should predecease me, all of that person's share of the
Trust Estate shall be divided equally among that person's children and issue per stirpes. In the event any
such predeceased Beneficiary leaves no surviving children or issue, then ail of that person's share shall be
distributed to the remaining primary Beneficiaries in equal shares.
FOURTH
In the event all of my named Beneficiaries and their children and issue predecease me, all of the
Trust Estate shall be distributed to my heirs at law.
FIFTH
I direct that all outstanding debts and/or loans owed by any Beneficiary shall be forgiven and
deemed as having not existed.
REVOCABLE LNING TRUST AGREEMENT
Page 25
szxTH
I direct that WARREN L. STONER, SR. and WARREN L. STONER, JR. shall both be
specifically excluded from receiving any portion of this Trust Estate.
SEVENTH
I direct that CAROLINE A STONER's share of this Trust Estate shall be held in Trust until
WARREN L. STONER, SR. is deceased.
EIGHTH
I direct that, before any distribution of the assets of the Trust Estate to the named Beneficiaries,
certain specific distributions, if any, shall be made from the assets as set forth on the list attached hereto
and marked "Exhibit A."
NINTH
I hereby acknowledge and accept the "Special Directives," if any, of my spouse.
REVOCABLE LIVING TRUST AGREEMENT
Page 26
SPECIAL INSTRUCTIONS FOR PREPARING ANrD ATTACI~TG r1.N
"EXHIBIT A"
TO YOUR REVOCABLE LIVING TRUST AGREEMENT
If you have special instructions for bequests of property that were not included in the original
trust planning documents, it is important that they be prepared correctly in order to accomplish your
wishes. "Exhibit A" is not an amendment; it is a part of your original trust document.
1. The page(s) entitled "SPECIAL DLRECTNES OF ELMER H. POTTEIGER" and
"SPECIAL DIRECTIVES OF ADONNA D. POTTEIGER" found near the end of the
trust document entitled THE ELMER H. POTTEIGER AND .ADONNA D. POTTEIGER
REVOCABLE LNING TRUST AGREEMENT needs to have a paragraph that basically
says the following:
I direct that my trust estate (or personal property or
whatever the items in question are) be distributed
according to the list attached hereto and marked
„EXHIBIT A" .
If your trust is a joint trust, an "Exhibit A" macst be mentioned in the SPECIAL
DIRECTIVES of both.
2. Make as many copies of your blank "EXHIBIT A" as it takes to distribute your personal
items, listing the individual property, the beneficiary of the property, and, if applicable,
the dollar or percentage amount of trust property you wish to bequeath.
3. When you finish, number and initial each page, and sign the last page. Be sure to sign
your signature and initials in front of your witnesses and a notary public. Date your
"Exhibit A" the same date you signed your original trust agreement. (All gift pages
must be entitled "EXI-IIBIT A." All pages must be numbered. Each page must have a
place at the bottom for your initials; the last page mccst have a line for your full signature.
Your signature must have two witnesses and a notary.)
4. Attach the original signed and witnessed copy to your original REVOCABLE LNING
TRUST AGREEMENT. Put a copy of your "EXHIBIT A" with any trust copies you
have stored, i.e., safe deposit box.
5. See attached sample for further help. If you have any questions, contact the attorney who
prepared your trust.
6. Any changes made subsequent to the trust date should be placed in the "AMENDMENT
TO REVOCABLE LIVIl~tG TRUST AGREEMENT" which follows "Exhibit A".
LOOK FOR YOUR PERSONALIZED "EXHIBIT A" PAGES BEHIND THE ELMER H.
POTTEIGER AND ADONNA D. POTTEIGER REVOCABLE LIVING TRUST AGREEMENT.
SAMPLE ONLY
"EXHIBIT A"
ADDITIONAL SPECIAL DIRECTIVES OF ELMER H. POTTEIGER AND ADONNA D.
POTTEIGER,
TRUSTEES AND SETTLORS OF
THE ELMER Fi. POTTEIGER AND ADONNA D. POTTEIGER REVOCABLE LIVING TRUST
I direct that JAMES DOE get my railroad pocket watch.
I direct that JANE DOE get the money in the FIRST NATIONAL BANK of Altuna, Texas,
Account #111-11 I-111.
I direct that JAMES DOE and JANE DOE each receive a % ownership in the house at 23
Lexington Avenue, Philadelphia, Pennsylvania.
I direct that my railroad stock be divided equally among the children of JAMES DOE.
I direct that my telephone stock be divided equally among the children of JANE DOE.
I direct that each of my grandchildren receive $5,000 from my trust estate. It is my intent that
this money be use:d for their college education.
I direct that my car go to my granddaughter, MELISSA DOE, and my truck go to my grandson,
JAMES DOE, JR.
"EXHIBIT A"
ADDITIONAL SPECIAL DIRECTIVES OF
JOHN S. DOE AND MARY A. DOE
Page of
THE ELMER H. 1POTTEIGER AND ADONNA D. POTTEICER
REVOCABLE LIVING TRUST AGREEMENT
Declaration of Intent
The undersigned hereby declare that, as Trustee of THE ELMER H. POTTEIGER AND
ADONNA D. POTTEIGER REVOCABLE LIVING TRUST, they are acquiring and will hold in the
name ELMER H. POTTEIGER and ADONNA D. POTTEIGER, but without further reference to their
fiduciary capacity, all items listed on the attached schedule(s) hereto and incorporated herein as amended,
from time to time, as well as household furnishings, automobiles, jewelry, bank accounts, securities,
bonds, clothing and other personal property of any kind in their name or in either of their names and
henceforth such assets shall and will belong to said Trust and not to them individually; and they further
declare that, except to the extent of interest provided to them under the terms and provisions of said Trust,
they have no personal interest in any of the above itemized personal properties, it being intended and this
Declaration constitutes an affirmation of Trust ownership and an assignment to this Trust and shall be
binding on their heirs, administrators, executors and assigns.
.~ ~~ ,
~`~f~ ~~~S WHEREOF, the undersigned have executed this instrument this ~' day of
~€ ~ • ,
ELMER H. POTTEIGER _
Settlor/Trustee ~ ~ .~~ ~.^
~ ~,~
e~~ ~ ~
ADONNA D. POTTEIGER
Settlor/Trustee
COMMONWEALTH OF PENNSYLVAIVLA
COUNTY OF CUMBERLAND
BEFORE ME, the undersigned authority, on this day personally appeared ELMER H.
POTTEIGER and ADONNA D. POTTEIGER, known to me to be the persons whose names are
subscribed to the foregoing instrument, and acknowledged to me that they executed the same for the
purposes and consideration therein expressed and in the capacity therein stated.
~~ -~, _
SUBSCRIBED AND SWORN this ~~ day of ~~~~ ,~~ ~~~~
Notary Public, Commonwealth of Pennsylvania
NOTARIAi. SEAL
T ODD B. GARR.Y, ~totary Public
Lower Southam~tor~ T ~~r,, Sucks County ~
~ f~1y Com~issier; Erwin== !day 3, 2004
'PENANCY AGREEMENT
This Tenancy Agreement is entered into on this day by and between ELMER H. PUTTEIGER
AND ADONNA D. POTTEIGER.
FACTUAL SUMMARY
E/ ELI~E ~I. P R AND ADONNA D. POTTEIGER were married on
~~ `~ ,and since that date have ac uired title to roe a
_ q p p rty s ~ oint tenants with
right of survivorship.
ELMER H. POTTEIGER AND ADONNA D. POTTEIGER have created an estate plan using a
revocable living trust and companion pour-over wills, and they now wish to convert all or part of their
joint tenancy into tenancy in common property.
ELMER H. POTTEIGER AND ADONNA D. POTTEIGER are aware. that they may, by
agreement, convert their joint tenancy property into tenancy in common property so that they may better
control their respective interests in the property on each of their deaths.
AGREEMENT TO CHANGE JOINT TENANCY ASSETS
TO TENANCY IN COMMON
ELMER H. POTTEIGER AND ADONNA D. POTTEIGER hereby grant, convey and transfer
their respective interests in their joint tenancy property to themselves as tenants in common, except for
jointly-held property in Schedule A of this Tenancy Agreement, if any.
ELMER H. POTTEIGER AND ADONNA D. POTTEIGER intend this agreement to be binding
on themselves and on all others as to property held in joint tenancy with right of survivorship as of the
date of this agreement regardless of the manner or form of the written title.
,---, ',~
.~~
LMER H. EI f ADONNA D. POTTEIGER make this agreement on the ~'
day of ~~% ~ ~~~ --f
r
t
ELMER H. POTTEIGE ~ %~_
c~--
ADONNA D. POTTEIGER
REVOCABLE LIVING TRUST AGREEMENT
COMMONWEALTH OF PENNSYLVANIA
ss. ACKNOWLEDGMENT
COUNTY OF CLTMBERLAI~TD
This instrument was acknowledged before me on the date herein set forth ELMER H.
POTTEIGER AND ADONNA D. POTTEIGER as husband and wife to certify which witness my hand
and seal of office.
ublic
My fission Ex fires:
NOTARIAL SEAL
iC;~~ E. G.~RRY, PJotary Fubiic
:~ ~ -
_~
I_.~ Cc~;Tissi~~ Expires i,~ay 3, 2~
REVOCABLE LNING TRUST AGREEMENT
December 22, 2010
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
BUREAU OF INDIVIDUAL TAXES
PO Box 280601
HARRISBURG, PA 17128-0601
PNC WEALTH MANAGEMENT
R. HERMANN GORGUS
TAX OFFICER
1600 MARKET STREET 4TH FLOOR
PHILADELPHIA, PA 19103-7240
COPY.
Telephone
(717) 787-3930
FAX (717) 772-0412
Re: Estate of ELMER H. POTTEIGER, JR
File Number 2110-0443
Dear Sir or Madam:
This is in response to your request for an extension of time to file the Inheritance Tax Return for
the above estate.
In accordance with Section 2136 (d) of the Inheritance and Estate Tax Act of 1995, the time for
filing the return is extended for an additional period of six months. This extension will avoid the
imposition of a penalty for failure to make a timely return. However, it does not prevent interest from
accruing on any tax remaining unpaid after the delinquent date.
The return must be filed with the Register of Wills on or before 06/17/2011. Because Section
2136 (d) of the 1995 Act allows for only one extra period of six (6) months, no additional extension(s)
will be granted that would exceed the maximum time permitted.
We now offer you the option to request your extension request via a-mail. Please use the
following a-mail address: R_ A-InheritanceTaxExt state.pa.us. We are also able to respond to
your extension request via a-mail. Please refer any questions to me concerning your extension.
No questions will be answered from this a-mail address.
Sincerely, ~~
~ ~ ~~~~r
Claudia Maffei, Supervisor
Document Processing Unit ~~
Inheritance Tax Division
IIUS c(;; IiLV' IUIiO ~i
L~~AL R~GI~TR~4R'~ +~ER~~~i~Ci4Yl0l~ OF DEATH
WARNING: It is illegal to duplicate this copy by photostat or photograph.
~ee for this certificate. X6.00
P 16427~~~
Certification N~il~ber
This is to certify that the information here given
correctly copied from an original Certificate of Deat
duly filed with me as Local Registrar. The. origin
certificate will be ~ ~rwarded to the State Vita
Records f -- -or ~rmanent filing.
~ ~
Local Registrar Date Issued
t>5-ta3 REV 11,2006
TYPE .PRINT IN COMMONWEALTH OF PENNSYLVANIA • DEPARTMENT OF HEALTH • VITAL RECORDS
PeucK IEN"KT CERTIFICATE OF DEATH
(See instructiente anal wsramnlwa nn rava~eal
" JIAIt rllt NUMtlthl
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COPY
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
SHORT CERTIFICATE
I , GL ENDA FA RNER S TRA SBA UGH
Register for the Probate of Wi 11 s and Granting
Letters of Administration in and for
CUMBERLAND County, do hereby certify that on
the 2 7th day of April , Two Thousand and Ten,
Letters TESTAMENTARY
in common form were granted by the Register of
said County, on the
estate o f EL MER H PO TTE/GER JR late o f S/L VER SPRING TO WNSH/P
(First, Middle, Lastl
in said county, deceased, to PNC BANK N.A.
(First, Middle, Lastl
and that same has not since been revoked.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed the
seal of said office at CARLISLE, PENNSYLVANIA, this 27th day of April
Two Thousand and `Pen .
Fi 1 e No . 20 ~ 0- 00443
PA Fi 1 e No . 21- 10- 0443
Date of Death 3/17/2010
S . S . # ~ 86-14-5791
NOT VALID WITHOUT ORIGINAL SIGNATURE AND IMPRESSED SEAL
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Apr. i 5. 2010 10 ; 28AP~ Pf1~C BAr~~K 412-705-2747
~~0.0646 P. 2/3
COPY
~~
~A#~t~IG T~F ~~~t -
April 15, 2010
Beth Musser
PNC Bank
V~ealth Management
RE: Elmer H Potteiger
SSN: 186-14-5791
DOD: 03-1'7-2010
Dear Ms. Musser:
In response to your request for Date of Death {DOD) balances for the customer noted above, our
records show the fo.[lowing:
C~ec~ng Accost
Account # 5070083:262 Established: 10-20-2004
ELI~R & ADONNA POTTEIGER TR.T
ELMER & ADONI~TA POTTEIGE~ TTEES
~ ~ ~RTAD 123103
DOD balance: $ 5.275.65 + 0.02 accrued interest
Account rr 5112701162 +~ Established: O 1-25-2010
/ ~ELMER H POTTEIC~ER .~R
DOD balance: $ 122,676.01 + 27.47 accrued interest
5$v~gs Accaumt
Account # 5000S09K65~ Established: 10-20-2004
ELMER & ADO~TA POTTEIGER TRT
ELMER & ADO~II~IA. POTTEIG.ER TTEES
~ ,/ URTAD 123103
DOD balance: $ 4,644,33 + 0.02 accrued interest
Page 1 of 2
pp r. 15, 20 ~ 0 10 ; 28AC~i Ff1~C BR~~K 412-105'-2 i 47 ~~~o. 0646 P, 3% 3
Please note that ttus~of~ce provides date of death balances far deposit accounts (IRAs, CDs, Checking and
Savi~;gs). We da not prQCess any financial ~ransactiQns or provide ~tate~eats. If you need assistazace with
sny of these items, please call 1-858 PNC-BANK (1-8SS-762-2265) or stop by your local PNC Bsnk branch
off ce.
SII1CeT8Iy,
National Financial Services Center
PNC Bank, N.A.
Iviem~er FDIC
.,
Pale 2 of 2
Allianz Life Insurance Company
of North America ~~~ ~ ~~ ~ '~
PO Box 59060
Minneapolis, MN 55459-0060
800.950.1962
April 8, 2010
ESTATE OF ELMER H POTTEIGER
C/O PO BOX 3822
LANCASTER PA 17604
Re: Annuity Policy Number 70352764, 70352871 & 70390776
Dear Beneficiary:
~~C~~~~~
~~~~~~~~5®~~
~,
J ~
We sent you this letter because you are the named beneficiary of Elmer Potteiger and we have not yet received a
claim for benefits. Listed below is information needed to file a claim for benefits on the fixed annuity contract(s).
Payment Options
Choose one of the options in Section IV on the claim form.
Contract Information
Contract Number Annuitizatian Minimum Payout Cash Qualified or
Value Period Value Nonqualified
70352764 $56,128.09 5 years $45,787.58 Non Qualified
70352871 $175,923.24 5 years $134,577.04 ~ Non Qualified
70390776 $400,715.75 5 years $331,835.47 Non Qualified
Policy values are affected by withdrawals, partial surrenders, loans, a!?d !~?arket value adjustments; as a
result, values quoted in this letter may increase or decrease and are not guaranteed.
Glaim Requirements
• Please be advised that this policy 70390776 contains a Death Benefit Rider. Additional benefits will be
paid directly to the beneficiary at the time of claim.
• Copy of the certified death certificate (only one copy is required for the deceased)
• Fixed Annuity Claim Form completed for the estate and signed by the court-appointed executor or
personal representative of the estate
• Employer Identification Number (EIN) for the Estate -please visit the IRS website at www.irs.gov or
call 1-800-829-4933 for instructions and/or forms to obtain the EIN
• Letters Testamentary, or Small Estate Affidavit if applicable, which provides the name of the court
appointed executor or personal representative
Estate as Beneficiary form is attached
Once we receive your claim requirements, allow 15 business days for processing. We look forward to serving you
as our valued customer. If you have any questions, feel free to call us at 800.950.1962.
Annuity Claims
Allianz Life Insurance Company of North America
c: Forbes, Larry R
c: Carrio Jose
c: Karasik Dennis
c: Rodriguez Anthony
LCL-1005 rev 7/1/09
Allianz Life Insurance Company
of North America
PO Box 59060
Minneapolis, MN 55459-0060
800.950.19fi2
June 18, 2010
ESTATE OF ELMER H POTTEIGER
C/O PNC BANK NA,
Po Box 3822
LANCASTER PA 17604
Re: Elmer H. Potteiger, deceased
Policy Number: 7035287'(
Taxable Amount: $0.00
Dear Executor:
COPY
R~C~i~l~~
~'I~C~.DVISJR~
Allianz Ali
Please accept our sincere sympathies. We thank you for providing the necessary information to process your
claim.
You will be receiving a check under separate cover in the amount of $134,577.04, representing the net benef[t
and a check in the amount of $2,139.71, representing the Death Benefit Rider proceeds.
Please be advised that: the taxable amount is $0.00 therefore you wil( not be receiving a 1099R form early next
year.
Should you have any questions, p{ease call the Claims Team at 800.950.1962. Thank you.
Annuity Claims
Allianz Life Insurance Company of North America
c: Forbes, Larry R
LCL-1026 Rev. 7/1/2009
Allianz Life Insurance Company
of North America
PO Box 59060
Minneapolis, MN 554.`i9-OOfi0
800.950.1962
June 12, 2010
ESTATE OF ELMER H POTTEIGER
C/O PNC BANK NA
PO BOX 3822
LANCASTER PA 17604
Re: Elmer 1-i. Potteiger, deceased
Policy Number: 70390776
Taxable Amount: $0.00
COPY Allianz Ali
~~~ A~~/'lf 5~~~
Dear Executor:
Please accept our sincere sympathies. We thank you for providing the necessary information to process your
claim.
You will be receiving a check under separate cover in the amount of $334,029.07, representing the net benefit
and a check in the amount of $7,767.57, representing the Death Benefit Rider proceeds.
Please be advised that the taxable amount is $0.00 therefore you will not be receiving a 1099R form early next
year.
Should you have any questions, please call the Claims Team at 800.950.19fi2. Thank you..
Annuity Claims
Allianz Life Insurance t;ompany of North America
c: Forbes, Larry R
LCL-1026 Rev. 7/112009
COPY
NAT~~~T.AL
WESTERN
LIFE INSURANCE COMPANY °
~~~ ~1 ~~~
.:, _,.
`~\4 h'j~ ~ ~l f~~a+
MM • l ~ •--
August 10, 2010 _. ~ - ' -- ~~~ ~ />
--~-~~;
PNC Bank I`3.A.
Attention: Beth Musser
For Estate of Elmer Potteiger
PO Box 382:2
Lancaster, P.A 17604
Subject: Annuity Certificates No. 0101087132 and 0101087133
Elmer Potteiger, deceased annuitant
Ms. Musser:
Mr. Potteiger's estate is the beneficiary of 0101087132. This annuity was issued in
April, 2004 with Adonna Potteiger but following her death in 2005, Elmer Potteiger
elected to become the annuitant under spousal continuation. He did not name a
beneficiary for himself under this annuity, therefore, his estate is the beneficiary.
The annuity offered the option of making a Loan using the policy values. In January,
2006, Mr. Potteiger requested a loan of $275,000.00. The values were not sufficient for
this loan value but a loan of $260,215.98 was issued to him as confirmed by the enclosed
copy of the Non-Qualified Loan Agreement and copy of the loan check issued. Interest
accrued on the loan on each anniversary date. The loan was made without a withdrawal
charge, however, in accordance with terms of the loan agreement under #S, any amount
owed to the Company upon the annuitant's death will be treated as a cash withdrawal and
the Accumulation Account will be reduced.
The Accumulation Account value on his date of death was $520,412.75 but this value
was reduced by the loan value/withdrawal charge of $434,272.38. This leaves a value of
$86140.37 payable under a S year installment, or, the CashValue of $32483.40 payable
for a lump surn payment to the estate. The claim will be paid under this annuity when we
receive the Annuity Claimant Statement completed by the bank making an election for
settlement. A certified death certificate for Mr. Potteiger is also still needed.
850 EAST ANDERSON LANE AUSTIN, TEXAS 75752-1602 512-536-1010
AUTOMATED VOICE RESPONSE TOLL-FREE 888-695-5001 WATS 800-531-5442
CLIENT SERVICES DIRECT WATS LINE 800-922-9422 CLAIMS 800-531-5442
WWW.NATIONALWESTERNLIFE.COM
~TATZ®N1~L
~~STE~N
J~ LIFF. JNSUR.ANCE CUNII'ANY 9
Annuity Certificate No. 0101087133 is payable to the beneficiaries listed in our letter of
1Vlay 61 , 2010, a copy of which is enclosed. No claim has yet been made by any of the
listed beneficiaries. This annuity was issued originally with Elmer Potteiger as the
annuitant, therefore, he had named contingent beneficiaries. This annuity also had an
outstanding loan at the time of his death. The value remaining after deduction of the
ioanlwithdrawal charge which are to be divided among the beneficiaries is $167,652.31
under a 5 year installment payout, or, $108,171.58 for a lump sum payment divided
accordingly.
Please provide us with a listing of the addresses for each beneficiary for 0101087133 if
you have that: information available with the estate information.
Let me know if you have further questions or need additional information before
submitting a claim on behalf of Mr. Potteiger's estate.
Cordially,
Doris Kruse
Vice President
- Policy Benefit Department
850 EAST ANDERSON LANE AUSTIN, TEXAS 78752-1642 SI2-83G-1410
AUTOMATED VOICE RESPONSE TOLL-FREE 888-G95-500I WATS 800-531-5442
CLIENT SERVICES DIRECT WATS LINE 800-922-9422 CLAIMS 800-531-5442
~'{~WW.NATIONALWESTERNLIFE. COM
,~..~ N~T~oN~.
~~ WESTERN
~ LITE fivSUR.4NCF C011iP.~'~fY
May 6, 2010
Beth Musser
PNC Bank
PO Box 3 822
Lancaster, PA 17604
Sub~}ect: Annuity Certificate 0101087132 and 0101087133
Annuitant: Elmer Potteiger, deceased
Dear Nis. Musser:
COPY
We are providing information to you regarding the outstanding claim for each of Mr. Potteiger's
National Western Life annuity certificates. As we previously discussed, we are unable to release
the financial information until we receive the Short Certificate showing the Bank's appointment
as Trustee/Executar of Mr. Potteiger's Estate.
Mr. Potteiger's Estate is designated as the primary beneficiary of Annuity Certificate
0101087132. The Estate may receive payment under one of the following distribution options:
I . A lump sum payment of the Cash Value as of the date of loss.
2. An insl~allment payout of Accumulation Value over a S year fixed period.
Upon receipt of the Short Certificate or Letters Testamentary we will be able to release values
and provide the appropriate forms for making an election for distribution. This information may
be faxed to S I2--719-8533.
For Annuity Certificate 0101087133, Mr. Potteiger designated Caroline Stoner, Cathy Watkins, ~ - -~
Christina Watkins, Nathaniel Watkins, Cindy and Nicole .lohnson as beneficiaries. Caroline
Stoner was designated to receive 20% share, with the remaining beneficiaries to receive 16%
share. Please provide any contact information you may have for the beneficiaries noted so we
may direct future communication to them.
Please contact the Policy Benefit Department at 800-531-5442 extension S8S if you have
questions regarding the options noted.
Cordially,
P4L1CY BENEI~IT DEPARTMENT
/ddr
850 EAST ANDERSON LANE AUSTIN, TEJ~AS 78752-1G02 512-$36-1010
AUTOMATED VOICE RESPONSE TOI.1-FREE 888-695-5001 WATS 500-531-5442
CLIENT SERVICES DIRECT WA'rS LINE 800-922-9422 CLAIMS 800-53I-5442
WW1X! NATIONALWESTERNLIFE. COM
O~~ M~T~~~
E7id Nic~t~aE Fsrsartcial A€~>tur~rk
?77 Research #~rivc
PH 1.866.702.2194
FX 402.479.0198
Estate of Elmer H. Potteiger
Karen Frick
PO Box 3822
Lancaster, PA 17604
OM FINANCIAL LIFE INSURANCE COMPANY
OM FINANCIAL LIFE INSURANCE COMPANY OF NEW YORK
~E~EiVEG
p~c ~,nv~so~s
,~ ~,-~~,
~~,~~ ~ 1 !:~ ~~
May 24, 2010
STATEMENT OF BENEFITS
Policy Number(s) L9145396
Death Benefit $49,693.03
Interest from
to
at
Settlement Interest $0.00
Tax Withholding
Subtotal $49,693.03
TOTAL $49,693.03
Payee: Estate of Elmer H. Potteiger Taxable Amount: $10,702.69
A check will be mailed from our Lincoln, Nebraska Service Center under separate cover. If you
should have any questions, feel free to contact our office at 1-866-702-2194.
Sincerely,
Lisa Antonson
Senior Claims Examiner
OM Financial Life Insurance Company
www . o m f n c o m
Old Mutual Financial Network is the marketing name for OM Financial Life Insurance Company (Home Office, Baltimore, MD);
and OM Financial Life Insurance Company of New York (Home Office, Purchase, NY).
. 1 ~~~
.'T.2 ~~~ j.. •.!.
dun `~~c~~ ~,h
Life Financial
June 10, 2010
PNC Bank
Attention: Beth Musser
PO B ox 3 822
Lancaster, PA 17b04
R~CEIVE~
PNC AQVISOR~
JUN .i ~ Z~; rL;
RE: Keypoz-t Index MultiPoint Annuity
Contract Number KA14036162-01
Elmer H. Potteiger {Deceased} Owner
Elmer H. Potteiger {Deceased} Annuitant
Dear Ms. Musser,
We are writing in regard to the contract referenced above.
COPY
As of March 1:7, 2010, this contract had an Indehed Valuc of $50;451.43, a surrender
Value of $58,'7b5.54, and a Guaranteed End of Term Value of $64,039.58.
We hope this information has been helpfiil. If you have any questions, please contact our
Customer Sezvice Department at (800} 367-3653.
51nCez'ely,
l/tG~
Lorelei J. Lemire
Correspondence Representative
17995258