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HomeMy WebLinkAbout08-10-11 (2)~]'~.~' L~~,S'2'7NIG~ i~'7Vt1) ~I~12' ~VjZ~' ~? ~~ ~, . , ~-- o ~ ;~, 02~' ; ~~~~ _ 2racy ~I~loody ~~1 ~ ~ P r : ~ ~+~~ ~~~ DECLARATION ~ .' +~ I, Tracy Moody, a resident of the commonwealth of Pennsylvania and county of Lebanon; and being of sound mind and memory, do hereby make, publish, and declare this to be my last will and testament, thereby revoking and making null and void any and all other last will and testaments and/ or codicils to last will and testaments heretofore made by me. All references herein to "this Will" refer only to this last will and testament. FAMILY At the time of executing this Will, I am married to William McMillan. The names of my children are listed below. Unless otherwise specifically indicated in this Will, any provision for my children includes the below-named children, as well as any child of mine hereafter born or adopted. Matthew Jordan Moody Zachary Millard Moody John Albert Corley Isabella Ann Marie Moody DEBT I direct that as soon as is practical after my death, the executor named pursuant to this Will review all of my just debts and obligations, including last illness and funeral expenses, except for those secured long-term debts that may be assumed by the beneficiary of such property, unless such assumption is prohibited by law or on agreement by the beneficiary. The executor is further directed to pay any attorneys' fees and any other estate administration expenses. The executor shall pay these just debts only after a creditor provides timely and Page 1 of my Last Will and Testament (initial) DOC#501120098 sufficient evidence to support its claim and in accordance with applicable state law. I direct that any estate, inheritance, and succession taxes, including any interest and penalties thereon, imposed by the federal government or any state, district, or territory, attributable to assets includible in my estate, passing either under or outside of this Will, be apportioned among the persons interested in my estate in accordance with applicable state and federal law. My executor is authorized and directed to seek reimbursement from the beneficiaries of my estate of any taxes paid by my executor to the extent allowed by law. If my executor cannot collect from any person interested in the estate the amount of tax apportioned to that person, the amount not recoverable will be equitably apportioned among the other persons interested in the estate who are subject to apportionment. If a person is charged with or required to pay tax in an amount greater than his or her prorated amount because another person does not pay his or her prorated amount, the person charged with or required to pay the greater amount has a right of reimbursement against the other person. I further direct that if any beneficiary named in this Will is indebted to me at the time of my death, and evidence of such indebtedness is provided or made available to my executor, that share of my estate that I give to any and each such beneficiary be reduced in value by an amount equal to the proven indebtedness of such beneficiary unless: (i) I have specifically provided in this Will for the forbearance of such debt, or (ii) such beneficiary is the sole principal beneficiary. SPECIAL DIRECTIVES Notwithstanding any other provision of this Will, I furthermore direct that: It is of utmost importance that barring any unforeseen event that would prevent it, Jack (John Albert Corley) should continue at Milton Hershey School until graduating from 12th grade, at which point Milton Hershey School will pay for Jack to attend college or vocational training of his choice. If jack is ever removed from Milton Hershey School he can not return. Everything must be done to help him stay in Milton Hershey School. Milton Hershey School has been the best thing, apart from my Page 2 of my Last Will and Testament (initial) love and guidance, that I have ever been able to give one of my children. Jack can succeed in this life if he continues at Milton Hershey School. PRIMARY REMAINDER BENEFICIARIES I give to the persons named below (my "Primary Remainder Beneficiaries"), all of the residue and remainder of my gross Estate, real and personal, wherever situated, after payment of all my just debts, expenses, taxes and specific bequests, if any, in the percentages set forth below. Unless otherwise indicated in my Will, these shares shall be distributed outright and free of trust. 1. Name: John Albert Corley Relation: Son Percentage: 100 If such beneficiary does not survive me, I direct that the share of my estate allocated to said beneficiary be distributed to: Matthew Jordan Moody. DISTRIBUTION IF NO LIVING BENEFICIARIES If at any time before full distribution of my estate all of my beneficiaries are deceased and this instrument directs no other disposition of the property, the remaining portion of my estate will then be distributed to my heirs determined according to the laws of intestate succession, unless specifically disinherited elsewhere in this Will. TESTAMENTARY TRUST Allocation of Trust Estate Notwithstanding any other provision of this Will to the contrary, I direct that the share(s) of my estate allocated to the beneficiary(ies) designated below be held in trust and administered and distributed in accordance with the terms of this "Testamentary Trust" clause as set forth below. 1. That share of my estate given to John Albert Corley will be held in trust until: John Albert Corley is 18 years old. Page 3 of my Last Will and Testament ~1~-~~- (initial) Nomination of Trustee ~~ I nominate Renee M. Bradley Blissett as trustee of all trusts created under this Testamentary Trust clause, to hold, administer, and distribute said trusts in accordance with the terms of the trusts as set forth herein. If the above-named trustee is unable or unwilling to serve or continue to serve as trustee of the trusts created under this "Testamentary Trust" clause, I nominate Aretha Jones-Jachimski as trustee, to hold, administer, and distribute the trusts in accordance with the terms of the trusts as set forth herein. If all trustees nominated in this clause are unable or unwilling to serve or to continue to serve as trustee, the majority of beneficiaries of the trusts created under the "Testamentary Trust" clause shall nominate a succE~ssor trustee, subject to the approval of a court of competent jurisdiction. If these beneficiaries are unable to nominate a successor trustee, a court of competent jurisdiction shall appoint a successor trustee pursuant to a petition filed by the resigning trustee or any beneficiary of a trust created under this "Testamentary Trust" clause. Distribution Provisions The trustee shall distribute, in convenient installments to or for the benefit of a trust beneficiary, so much of the net income and principal. of the beneficiary's trust share as the trustee deems necessary, in the trustee's discretion, for the health, education, maintenance, and support of said trust beneficiary. Education includes, but is not limited to, college, graduate school, vocational studies, and reasonably related living and travel expenses. In exercising any power concerning discretionary payments of income or principal to or for the benefit of the beneficiary of any trust under this Will, the trustee shall consider other income or resources of the beneficiary known to the trustee and the trustee may rely on the written statement of the beneficiary about such other income or resources. Any net income not distributed to the trust beneficiaries will be added to the principal of the applicable trust share and reinvested for future distribution. When a trust beneficiary is entitled to distribution of the balance of the beneficiary's trust share in accordance with the trust provisions set forth above, the trustee shall distribute to such trust beneficiary the remaining principal and accumulated net income of his trust share, less the beneficiary's pro rata share of unpaid trust administration expenses. Page 4 of my Last Will and Testament ~~~~'`"-- (initial) If a trust beneficiary survives me but predeceases the complete distribution of his or her trust, such trust will be terminated forthwith and the remaining principal balance and any accumulated but undistributed net income will be distributed to the deceased beneficiary's surviving heirs at law. If a trustee determines, in the trustee's. discretion, that the corpus of a trust share is of insufficient value to economically administer, the trustee may terminate the trust in accordance with applicable state law anal distribute the accrued and undistributed net income and remaining principal balance of the trust share to the trust beneficiary, outright and free of trust. CREDIT SHELTER TRUST My spouse has the right to disclaim all or a portion of any property or other interests left to him or her under this Will, provided that my spouse do so within the qualifying time limit for the disclaimer pursuant to Section 2518 of the Internal Revenue Code of 1986, as amended from time to time (the "Code"), or a corresponding provision in any successor statute. Anything in the "Alternate Remainder Beneficiaries" clause to the contrary notwithstanding, if my spouse makes any such disclaimer, all such disclaimed property or interests will be distributed in trust to William McMillan, as trustee of The Tracy Moody Credit Shelter Trust. During my spouse's lifetime, the trustee shall distribute net income and principal of the Credit Shelter Trust in accordance with the following provisions: a. The trustee shall pay to my spouse or apply for his or her benefit all of the net income of the trust, with such payments to be made at regular intervals as determined in the trustee's sole discretion, except that the trustee shall make payments at least annually. b. The trustee may also pay to or apply for the benefit of my spouse from time to time so much of the principal as the trustee determines is necessary for my spouse's health, education, maintenance, and support. c. In making any such discretionary distributions, the trustee may take into consideration all relevant circumstances, including but not limited to my spouse's accustomed standard of living and other assets and sources of income or support available to my spouse and known to the trustee. Page 5 of my Last Will and Testament (initial) On the death of my spouse, the remaining Credit Shelter Trust assets will be distributed in accordance with the provisions of this Will, as if I had died on the date of my spouse's death and my spouse had not survived me. GENERAL TRUST PROVISIONS Trustee Powers (a) General Powers and Duties. Each trustee of a trust created under this Will will have all of the powers deemed necessary and appropriate to administer that trust, including all powers granted under Pennsylvania law, subject to the trustee's fiduciary duties to the beneficiaries and any restrictions or limits set forth under Pennsylvania law. (b) Specific Powers. In furtherance of subsection (a) above, the powers of the trustee include, but are not limited to, the powers to: 1. Collect, hold, maintain, manage, and administer the assets of the trust as if the trustee were the absolute owner of it; 2. Sell, trade, deal, encumber, mortgage, pledge, option, lease, lend, or improve the assets of the trust; 3. Invest, reinvest, and make purchases with the profits and principal of the trust in every kind of property, asset, and investment; 4. Borrow money from the trust for trust purposes; 5. Employ and pay reasonable fees to counsel, accountants, financial advisors, and any other professionals deemed necessary or advisable for the proper administration of the trust; 6. Enter into contracts and otherwise executE~ any instruments on behalf of the trust; Page 6 of my Last Will and Testament (initial) 7. Establish bank, brokerage, and other financial and nonfinancial accounts for and on behalf of the trust, and execute any and all documents on the trust's behalf in relation thereto, including any resolutions, certifications, or certificates required for such accounts; 8. Distribute or divide the assets of the trust in accordance with this Will (subject to any restrictions or limits set forth under Pennsylvania law), and execute any documents necessary to administer any trust or subtrust created by this Will; 9. Continue, operate, expand, manage, and sell any business that is a trust asset; 10. Commence, defend, arbitrate, and settle legal claims or actions concerning the trust or the assets and property in the trust; 11. Exercise voting rights, give proxies, and enter into voting agreements with respect to stock and other business ownership interests held by the trust; 12. Prepare tax returns and take any necessary or desirable actions with governmental agencies; and 13. Purchase and modify insurance. Physical Se~egation of Trust Shares Not Required If more than one trust is created under this Will, the trustee is not required to physically segregate or divide the assets of the various trusts, except if physical segregation or division is required on the termination. of any of the trusts. Notwithstanding the forgoing, the trustee shall maintain separate books and records for each separate trust. Bond Not Required No trustee of any trust created under this instrument is required to post a bond. Page 7 of my Last Will and Testament (initial) Distribution Authority If the trustee is required by this Will to divide any trust property into parts or shares or otherwise, the trustee is authorized, in the trustee's sole discretion, to make that division and distribution in identical interests, in kind, or partly in kind or partly in money, pro rata or non pro rata. For this purpose, the trustee may sell such trust property not specifically devised as the trustee deems necessary. Trustee Compensation The trustee is entitled to annual reasonable compensation for services rendered in that capacity. Trustee fees will be prorated for any partial years of service in amounts proportionate with the period of service during that year. Spendthrift Provision No interest in the principal or income of any trust created under this instrument may be anticipated, assigned, encumbered, or subjected to a creditor's claims or legal process until it is actually received by the beneficiary. This spendthrift provision constitutes one of the material purposes of the trusts created hereunder. Payments to Minor Beneficiaries The trustee may make distributions from a minor's trust share, up to the whole thereof, to the guardian of the minor's person, a custodian for the minor under the applicable Transfers to Minors Act, or Gifts to Minors Act, or the trustee may apply distributions directly for the minor's benefit. Qualified Subchapter S Trust Provision It is my intent that any trust created herein holding stock in a qualified subchapter S corporation, if any, for any beneficiary qualify as a qualified subchapter S trust ( QSST ). A QSST will have at least one beneficiary and the income of that trust will be distributed at least annually. If a trust is comprised of shares in a "small business corporation," as defined in Section 1361 of the Code or any successor thereto, the trustee may segregate said trust property into a separate trust and, as trustee, may modify the terms of said trust (if necessary) so that said trust will be a QSST as defined in the Code or any successor thereto. The trustee shall make any such modification by a written document signed by the trustee and delivered to the beneficiary of said trust or to the guardian of any Page 8 of my Last Will and Testament ~~ (initial) minor beneficiary or conservator any incompetent beneficiary. The terms of the so-called QSST will continue for so long as necessary as long as an election under Section 1362 of the Code or any successor thereto, is in effect. When the trust property is no longer comprised of small business corporation stock or a Section 1362 election has not been made, the special QSST will terminate and the trust property will be held in accordance with the terms of the original trust. EXECUTOR NOMINATION I nominate my sister, Aretha Jones-Jachimski, to be thE~ executor of this Will. If, for any reason, my first nominee executor is unable or unwilling to serve or to continue to serve as executor of this Will, I nominate my nephew, Anthony David Jones, to be the executor of this Will. If none of the nominated executors are able and willing to serve or continue to serve, and the vacancy is not filled as set forth above, the majority of estate beneficiaries shall nominate a successor executor. If the majority of estate beneficiaries are unable to nominate a successor executor, the vacancy will be filled pursuant to a petition filed in a court of competent jurisdiction by the resigning executor or any person interested in the estate. MISCELLANEOUS EXECUTOR PROVISIONS The term "executor' includes any executrix, personal representative, or administrator, if those terms are used in the statutes of any state that has jurisdiction over all or any portion of my estate. My executor will have broad and reasonable discretion in the administration of my estate to exercise all of the powers permitted to be exercised by an executor under state law, including the power to sell estate assets with or without notice, at either public or private sale, and to do everything he or she deems advisable and in the best interest of my estate and the beneficiaries thereof, all without the necessity of court approval or supervision. I direct that my executor perform all acts and exercise all such rights and privileges, although not specifically mentioned in this Will, with relation to any such property, as if the absolute owner thereof and, in connection therewith, to make, execute, and deliver any instruments, and to enter into any covenants or agreements binding my estate or any portion thereof. Page 9 of my Last Will and Testament (initial) If there are two co-executors serving, they shall act by unanimous agreement. If there are more than two co-executors serving, they shall act in accordance with the decision made by the majority of co-executors. Subject to specific provisions to the contrary, I authorize my executor to distribute a share of my estate given to a minor beneficiary, up to the whole thereof, to a custodian under the applicable Transfers to Minors Act or Gifts to Minors Act, if in the executor's discretion, it is in the best interests of the beneficiary. The executor may also make distributions to a minor by making distributions to the trustee of a trust created under this Will for a minor beneficiary, the guardian of the minor's person, or the guardian of the minor's estate. No person named as an executor is required to post any bond. I authorize my executor to make the following choices or elections in my executor's absolute discretion, regardless of the resulting effect on any other provisions of this Will or on any person interested in my estate or in the amount of any of the taxes referred to: (a) choose a valuation date for Estate or inheritance tax purposes or choose the methods to pay estate or inheritance taxes; (b) elect to treat or use an item, for either federal or state tax purposes, as either an income tax deduction or as a deduction for estate or inheritance tax purposes; (c) determine when a particular item is to be treated as taken into income or used as a tax deduction, to the extent the law provides that choice; and (d) disclaim all or any portion of any interest in property passing to my estate at or after my death, even though any of these actions may subject my estate to additional tax liabilities. No person adversely affected by my executor's exercise of discretion under this clause is entitled to any reimbursement or adjustmE~nt, and my executor is not required to make any adjustment between income and principal or in the amount of any property passing under this Will as a result of any election under this provision. I authorize my executor, without obtaining court approval, to employ professional investment counsel on such terms as my executor considers proper, and to pay the fees of investment counsel as an expense of administration of my estate. However, my executor is under no obligation to employ any investment counsel. I authorize my executor either to continue the operation. of any business belonging to my estate for such time and in such manner as my executor may consider advisable and in the best interest of my estate, or to sell or liquidate the business at such time and on such terms as my executor may consider advisable Page 10 of my Last Will and Testament ~ (initial) and in the best interest of my estate. Any such good faith operation, sale, or liquidation by my executor will be at the risk of my estate and without liability on the part of my executor for any losses that may result. GUARDIAN NOMINATION CLAUSE I nominate Renee M. Bradley Blissett to be the guardia:n of the person and estate of each minor child of mine. If, at any time during the minority of any child of mine, my first nominee guardian, for any reason, is unable or unwilling to serve or to continue to serve as guardian of the person and estate of each minor child, I nominate Aretha Jones-Jachimski to be the guardian of the person and estate of each minor child of mine. ADDITIONAL GUARDIANSHIP PROVISIONS The term "guardian" as used in this Will includes any person herein named as a guardian of both the person and estate of my minor children. As it is my desire that the loving care and treatment of :my minor children be trusted in the guiding hands of the person designated by me as guardian of my minor children, I wish said guardian to exercise broad and reasonable discretion in dealing with the person and estate of my minor children so as to be able to do everything deemed advisable in the best interest of ;said minor children. I direct that the guardian of my minor children perform all acts, take all proceedings and exercise all such rights and privileges, although not specifically mentioned in this Will, with relation to any matter affecting both the person and estate of those minor children. If there are two co-guardians serving, they shall act by unanimous agreement. If there are more than two co-guardians serving, they shall act in accordance with the decision made by the majority of co-guardians. No such person named as guardian in this Will is required to file any bond. Page 11 of my Last Will and Testament ~ ~~ (initial) SIMULTANEOUS DEATH If it cannot be established if a beneficiary of my estate survived me, the provisions of the applicable Uniform Simultaneous Death Act, as amended, or any substantially similar successor act effective on the date of my death, will apply. NONLIABILITY OF FIDUCIARIES Any fiduciary, including my executor and any trustee, who in good faith endeavors to carry out the provisions of this Will, will not be liable to me, my estate, my heirs, or my beneficiaries for any damages or claims arising because of their actions or inaction, or the actions of any predecessor fiduciary acting pursuant to this Will. My estate will indemnify and hold therri harmless. SAVINGS CLAUSE If a court of competent jurisdiction at any time invalidates or finds unenforceable any provision of this Will, such invalidation will not invalidate the whole of this Will. All of the remaining provisions will be undisturbed as to their legal force and effect. If a court finds that an invalidated or unenforceable provision would become valid if it were limited, then such provision will be deemed to be written, deemed, construed, and enforced as so :limited. Page 12 of my Last Will and Testament (initial) IN WITNESS WHEREOF, I, the undersigned testator, declare that I sign and execute this instrument on the date written below as my .last will and testament and further declare that I sign it willingly, that I execute it as my free and voluntary act for the purposes expressed in this document, and that I am eighteen years of age or older, of sound mind and memory, and under no constraint or undue influence. (Signature of acy Moody Date: - ~ a2- ~ ! / Page 13 of my Last Will and Testament (initial) ATTESTATION This last will and testament, which has been separately signed by Tracy Moody, the testator, was on the date indicated below signed and declared by the above named testator as his or her last will and testament in the presence of each of us. We, in the presence of the testator and each other, at the testator's request, under penalty of perjury, hereby subscribe our names as witnesses to the declaration and execution of the last will and testament by the testator, and we declare that, to the best of our knowledge, said testator is eighteen years of age or older, of sound mind and memory and under no constraint or undue influence. (Signature o witness) (Print Name) Date: ~ ~ l l ( ~I ~ /~~~ Q~~~, ~ (Address) (City, State, ZIP) (Signature of witness) (Print Name) Date: ~ ~7l! / ~ ~~ ~T~~ ~~ ~~ (Address) (City, State, ZIP) Page 14 of my Last Will and Testament ~~~" (initial) STATEMENT OF INTERMENT, CREMATION, and WISHES I, Tracy Moody, the undersigned, having previously executed a last will and testament on the date hereof, hereby state that, in addition to the directives and bequests set forth in said last will and testament, it is my desire that my remains be cremated. My further wishes and directives are as follows: Renee Blissett will help Jack keep my ashes, along with his other personal belongings, until he is older and ready to throw them into the Caribbean ocean. Dated: ~~ ~"~~// Q ' G ~~~,~~~~ Signature of Tracy Mop WITNESS ATTESTATION CLAUSE This statement of interment, cremation, and wishes, which has been separately signed by Tracy Moody was signed, executed and declared in the presence of each of us. We, in the presence of Tracy Moody and each other, under penalty ~of perjury, hereby subscribe our names as witnesses to the declaration and execution of the statement of interment, cremation, and wishes by Tracy Moody and we declare that, to the best of our knowledge, Tracy Moody is eighteen years of age or older, of sound mind and memory, and and r no constr int or undue influence. ~~ ~ ~ ~~~ (Signature of witness) (Print Name) Date: ~ ~~( CJ I lS~ ~ctno~ A ~ (Address) ~~ (Signature of witness) Date: C~~I;sle ~~ '-~7~13 (City, State, ZIP) rl ,~,~~~-~" (Print Name) ~o~ A s1~1~J E~v~ (Address) ~115'l° ~A ~~~ (City, State, ZIP) SELF-PROVING AFFIDAVIT Commonwealth of Pennsylvania County of ~cz~~ ~,~ Acknowledgment I, Tracy Moody, the testator whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my Last Will; and that I signed it willingly and as my free and voluntary act for the purposes therein expressed. Sworn to or affirmed and acknowledged before me by Tracy Moody, the testator, this ~ day of J , 20~_. Q Signature o. Tracy Moo Signature of Notary Public 1"`~ ~OiVIMOf~WEALTH OF PENS±"`•; .'~AE~!,~ Notarial Se° Maria TheOdpratos, Carlisle8oro, Cumbf My Commksion Expi~ , Member, Pennsyivanir ..g„~,,.,,, ~~~~~Ej~r~ , (Seal) COMMONWEALTH OF PENN3YLVi4NIA Notarial Seal Maria Theodoratos, Notary Public Affidavit Carlisle Boro, Cumberland County My Commission Expires May 14, 2012 3 Member, Pennsylvania Association of Notaries Commonwealth of Pennsylvania County of ~. ~ Mir 1 cE.,-.,d ... We LC~~/ /. /-fw ~~ .. . and _ y /,~ ~, the witnesses whose names are signed to the attached or foregoing instrument, being duly qualified according to law, do depose and say that we were present and saw the testator sign and execute the instrument as the testator's Last Will; that the testator signed willingly and executed it as the testator's free and voluntary act for the purposes therein expressed; that each subscribing witness in the hearing and sight of the testator signed the will as a witness; and that to the best of our knowledge the testator was at that time 18 or more years of age, of sound mind and under no constraint or undue influence. Sworn to or of 'rmed and subscribed to before me by l ~1/ 1) ` ~ ~ ~" ~ 1 i~,Y and b witnesses), this _~ day of _ 20 I yL_ --'~J- ~..rA,// Signature of Witness Signature of Witness (Signa re of Notary Public) (Seal) C'i~MMONt~IEALTH Oi~ F~IrNN~Yl1~AN.,~ ____ Notarial Seal Maria Theodoratos, Notary Public Carlisle Boro, Cumberland County My Commission Expires May 14, 2012 Member, Pennsylvania Association of Rotaries