HomeMy WebLinkAbout08-03-11 (3)In Re: ESTATE OF MYRTLE Y. : IN THE COURT OF COMMON PLEAS
UPHOLD :CUMBERLAND COUNTY,
deceased :PENNSYLVANIA
NO. 2010-01270
, ~ ~ :FAMILY SETTLEMENT AND
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~ ;= `~ :INDEMNIFICATION AGREEMENT
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:Filed on behalf of Bonnie L. Marchi
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~ :Executrix of
~~~ ~ ~ c~ :the Estate of MYRTLE Y. UPHOLD,
Deceased
WHEREAS, MYRTLE Y. UPHOLD, with her last address at 505 Garrett Road, Dillsburg,
PA 17019, died testate on November 7, 2010; The Last Will and Testament dated September 22,
1994, was duly admitted to probate on by the Register of Wills of Cumberland County, Pennsylvania
on December 29, 2010, at the above number and term; and
WHEREAS, Bonnie L. Marchi has been appointed as Executrix of the Estate of MYR-
TLE Y. UPHOLD, Deceased; and
WHEREAS, the parties in interest to the Estate of MYRTLE Y. UPHOLD, are:
(1) Bonnie L. Marchi, daughter, Executrix, beneficiary
(2) Constance Rae Uphold, daughter, beneficiary
WHEREAS, all known outstanding debts and obligations of the Decedent have been paid in
full;
WHEREAS, each of the parties to this Agreement has been furnished with a complete list of
the estate assets and receipts, attached hereto as Exhibit "A" and disbursements as set forth on the
accounting attached hereto as Exhibit "A"; and
WHEREAS, it is the desire of the parties to this Agreement, that final distribution of this es-
tate be accomplished without a formal accounting to the Orphans' Court Division of the Court of
Common Pleas of Cumberland County, Pennsylvania, or any other court of competent jurisdiction, it
being the desire of the parties to avoid the expense of a formal accounting; and
WHEREAS, the parties to this Agreement each acknowledge they have received a proposed
Summary of Account attached hereto as part of Exhibit "B".
WHEREAS, the parties to this Agreement each acknowledge they have received a proposed
Schedule of Distribution attached hereto and marked as Exhibit "B";,and
WHEREAS, each of the parties to this Agreement does acknowledge their receipt from the
Executrix the distribution, if any, as evidenced by Approval of Account and Release, which is at-
tached hereto and marked as Exhibit "C".
NOW, THEREFORE, WITNESSETH, in consideration of the mutual promises, covenants
and agreements recited herein, the parties do agree as follows:
1. Each of the parties to this Agreement does hereby release and forever discharge
the Executrix from any and all liability which may from time to time arise in connection with
their service as Executrix of the Estate of MYRTLE Y. UPHOLD, Deceased. The parties do
further agree to indemnify and hold harmless the Executrix from any and all liability which
may arise against the estate from creditors or other claimants.
2. Each of the parties does hereby acknowledge receipt of the assets, if any, described
in the Exhibits attached hereto.
3. Each party to this Agreement acknowledges that this Agreement shall be indexed and
recorded in the estate proceedings in this or any other state, and that the terms hereof shall be
binding upon their respective heirs, successors, executors and assigns.
ACCOUNTING OF THE ESTATE OF MYRTLE Y. UPHOLD DECEASED
ASSETS
Highmark B1ueRX 81.38
RiverSouce Long Term Car Insurance
_
_ 740.00
_ _
_.
Members 1st Checking Account 43,712.72
__ __
_ .
Members 1st Savings Account
_ __ 5.00
__
$50 US Savings Bond 50.00
.,Ameriprise Financial, Acct 01013854900 0
_. _..... 002 32,191 81
Ameriprise Financial, Acct. 01807901866 1 001 .1,680.77
.Ameriprise Financial, Acct. 93007539197 7 004 180,080.76
__ _.
_Ameriprise Financial, Acct. 93007729778 4 004 35,800.03
Ameriprise Financial, Acct. 93008323043 1 004 58,547.79
,Ameriprise Financial, Acct. 00016956922 5 021 30,079.68
.Ameriprise Financial, Acct 00010796353 0 133 75,968.14
,.Ameriprise Financial, Acct. 00010804731 7 133 54,999.41
Refund of Advisory Fee from Ameriprise Fi
_ nancial
_ _ _ 999.00
__
Commonwealth of Pennsylvania Tax Refund 163.00
Total 515,099.49
ACCOUNTING OF THE ESTATE OF MYRTLE Y. UPHOLD, DECEASED
DISBURSEMENTS BY EXECUTRIX
Myers-Hamer Funeral Home
_ _.. 3,971.00
John C. Zepp, .III . . __ 3,500.00
Cumberland County Register of Wills 328.50
The Sentinel 198.16
C'umberl_and Law Journal 75.00
,Kern and Company (Income Tax Preparation) 800.00
Contuing Care RX
_ 15 00
__ . .
Bethany Village 11,536.19
_. .
.Cumberland County Register of Wills, Agent 22,258.15
.Cumberland County Register of Wills, Inventory 15.00
Cumberland County Register of Wills, Return
_ __. ... 15 00
,Cumberland County Register of Wills, Probate 328.50
Cumberland County Register of Wills, Family Agreement ' 20.00_
Total $43,060.50
Exhibit "A"
4. This Agreement shall be governed by the laws of the Commonwealth of Pennsylvania.
Dated at Cumberland Springs, Pennsylvania this _~~~ ~ day of July, 2011.
ITNESS•
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Bonnie L. Marchi
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Constance Rae Uphold
ACCOUNTING OF THE ESTATE OF MYRTLE
SUMMARY OF ACCOUNT
Estate Assets
Less Disbursements
BALANCE
OLD, DECEASED
515,099.49
$ 43,060.50
$ 472,038.99
The following assets are hereby proposed for distribution to heirs pursuant to this Agreement:
Name Distribution
Bonnie L. Marchi 236,019.50 _
_
Constance Rae U hold i 236,019.49
Exhibit "B"
RECEIPT OF DISTRIBUTION APPROVAL OF ACCOUNT AND RELEASE
The undersigned being those interested under the Last Will and Testament of MYRTLE Y.
UPHOLD, Deceased, desire that the Estate be distributed without the formality of a court accounting.
The Executrix of the Estate is willing to consent to such distribution upon receipt of a proper release,
which is the purpose of this document to provide. In consideration of the willingness of the Execu-
trix tomake distribution without the formality of a court accounting and agreeing to be legally bound
hereby, the undersigned, individually, and on behalf of their respective heirs, personal representa-
tives, successors and assigns, do hereby:
1. Waive the filing of an account of the administration of the Estate in any court.
2. Declare that they have examined the attached informal account and proposed state-
ment/schedule of distribution of the Executrix of the Estate of MYRTLE Y. UPHOLD, Deceased;
find it to be true and correct in all particulars; accept and approve it with the same force and effect as
if it had been prepared and filed with, audited, adjudicated and confirmed absolutely by a court of
competent jurisdiction; and as if the balance of principal and income had been awarded by the court
in accordance with the statement/schedule of distribution.
3. Warrant that the beneficiaries named in the informal accounts and statements/schedules of
distribution are entitled to receive the entire distribution thereof in accordance with the informal ac-
count and statement/schedule of distribution.
4. Warrant that they know of no outstanding and unsatisfied claims against the Estate and
approve the distribution of the balance of principal and income shown in the informal accounts and
statements/schedules of distribution to the persons set forth therein.
Exhibit "C"
5. Absolutely and irrevocably release and discharge the Executrix, her heirs and personal repre-
sentatives of and from any and all actions, liabilities, claims and demands relating in any way to the ad-
ministration of the Estate and distribution in accordance with the informal account and state-
ment/schedule of distribution and without a court accounting and adjudication.
6. Agree to indemnify and hold harmless the Executrix, her heirs and personal representatives
from and against any claims, liabilities, loss or expense (including costs and counsel fees) arising from
any cause whatsoever, which the Executrix may incur as the result of the administration of the Estate and
its distribution in accordance with this document to the extent to which they have received distributior,
under this agreement, including, but not limited to, any liability for any Federal Estate Tax, Pennsylvania
Inheritance Tax or any other death taxes, and any Federal or Pennsylvania Income Taxes and Pennsylva-
nia Personal Property Taxes, together with any interest, penalties and costs incidental thereto, relating in
any way to the Estate and also including, but not limited to, any assets received or payments or distribu-
tions made by reason of any negligence or mistake of law or fact.
7. The undersigned hereby acknowledge receipt of those assets as set forth on the proposed
statement/schedule of distribution as of the date of the execution of this receipt of distribution, approval
of account and release.
Date: July ~_, 2011
WITNESS:
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Bonnie ~. Marchi
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~onstance Rae U h
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