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COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENN~~ANIA
ORPHANS' COURT DIVISION ~; z n
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In Re: Estate of ~ ~~ ~~ ~ - - ~ ~ ~~
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No. 21-09-0950 ~ • • ` ~ C''
PHILIP B. TOMLINSON : ~ ~''
deceased.
FAMILY SETTLEMENT AGREEMENT
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between:
LINDA L. SIMONS, Personal Representative of the Estate of PHILIP B.
TOMLINSON, deceased,
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LINDA L. SIMONS, the same, of Mechanicsburg, Pennsylvania, being the Trustee of
the heir and beneficiary of the Estate of the above-named Decedent.
BACKGROUND:
A. PHILIP B. TOMLINSON died testate on September 15, 2009.
B. By his last Will, dated July 28, 1998, PHILIP B. TOMLINSON designated
LINDA L. SIMONS to act as his Personal Representative.
C. PHILIP B. TOMLINSON'S Will was admitted to probate by the Register of
Wills of Cumberland County to No. 21-09-0950 and LINDA L. SIMONS was appointed as
Personal Representative.
D. The Last Will and Testament of PHILIP B. TOMLINSON named the Philip B.
Tomlinson and Ruth R. Tomlinson Revocable Living Trust dated July 28,1998 (the "Trust"), as the
sole residuary beneficiary.
E. As Personal Representative, LINDA L. SIMONS, has advertised the Grant of Letters
Testamentary, proceeded with the administration of said Estate, determined the assets, liabilities, and
tax obligations of the Estate, prepared and filed a Pennsylvania Inheritance Tax Return and paid the
appropriate taxes thereon, and is now ready to distribute the net proceeds of the Estate.
F. As Trustee of the Trust and Personal Representative of the Estate, LINDA L.
SIMONS, shall not be required to file a First and Final Account with the Orphans' Court of
Cumberland County, and desires that the net proceeds of the Decedent's Estate be distributed to the
Trust without the necessity of filing a formal Account. Attached hereto and marked as Exhibit "A" is
a description of the residual assets of the Estate.
G. LINDA L. SIMONS has paid all of the taxes, debts and expenses of the Estate
known to Personal Representative, and Personal Representative has no knowledge of any unpaid
claims, absolute or contingent, which may be asserted against the Estate, nor does Personal
Representative have any reason to believe that there are any such claims.
NOW, THEREFORE, I, LINDA L. SIMONS, being the Trustee of the Trust which is the sole
residual beneficiary under the Last Will and Testament of PHILIP B. TOMLINSON and which is
entitled to inherit under the Decedent's Last Will and Testament, does hereby release, remise and
forever discharge the Estate of PHILIP B. TOMLINSON, deceased, of and from all manner of acts,
suits, claims, accounts, accountings, debts, dues and demands whatsoever which she or her legal
representatives or assigns may at any time hereafter have, against the said Estate or the assets thereof,
from, for, touching or concerning any of the assets and property of the said Estate and/or any claim or
interest thereto or therein, and the administration, management, collection, sale or distribution of any
of the said assets and for or on account of any money, interest, income, assets or proceeds out of the
same, from the time of the death of the said Decedent to and including the date of this Agreement.
Additionally, as Personal Representative of the Estate of PHILIP B. TOMLINSON, I
acknowledge that a Notice of Inheritance Tax Appraisal showing no balance due has been received
from the Pennsylvania Department of Revenue in regard to the filing of a Pennsylvania Inheritance
Tax Return (REV-1500). A Federal Estate Tax Return (Form 706) was not required to be filed.
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the day
and year first above written.
PERSONAL REPRESENTATIVE:
By:~,v '~' ' ~`~'~`-e-r--~
Linda L. Simons, P rsonal
Representative of the Estate
of Philip B. Tomlinson, deceased
BENEFICIARY:
Philip B. Tomlinson and Ruth R. Tomlinson
Revocable Living Trust dated July 28, 1998
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By: ~ ~' -Lr~1-c,,.~
Linda L. Simons, Trustee
EXHIBIT "A"
PROBATE ASSETS:
TVE Preferred Stock
U.S. EE and I Savings Bonds
PNC Bank Money Market #8949
Member's ls` FCU CD# 4782
Total
INTEREST INCOME:
Member's 1 `' FCU CD# 3 ; 4782
LESS:
Loss on Sale of TVE Preferred Stock
($28,887.00-$29,891.25)
TOTAL NET VALUE:
DATE OF DEATH VALUE PER
INVENTORY AND REV-1500:
$29,891.25
$226,048.20
$327.30
$74,951.76
$331,218.51
$15.`)4
$1 004.25
$330,230.20
LESS EXPENSES: AMOUNT:
Debts of Decedent $29,624.00
Funeral Expenses $3,076.43
Probate Fees $1,105.33
Appraisal Fee $950.00
Postage Expense $19.60
Bank Fees $26.00
Wire Fee $25.00
Real Estate Taxes $387.19
PA Inheritance Tax ($41,519.90 -$6,877.55) $34,642.35
Executrix Commission $30,000.00
Accounting Fees $1,150.00
:"-~tto ney's F ces $1,326.25
Estate Income Tax ($36,143-$10,611) $25,532.00
Total $127,864.15
Balance to be distributed to Revocable Trust X202 366.05