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HomeMy WebLinkAbout09-06-11IN THE MATTER OF THE ESTATE AND TRUSTS OF ~ THE COURT OF COMMON PLEAS HARRY TOULOUMES, a1k/a CUMBERLAND COUNTY, pENNSYLVAN HARRY N. TOULOUMES, O~'HANS' COURT DIVISION IA DECEASED N0.2009-01166 RECEIPT AND RELEASE RE: CHARITABLE GIFTS OF STOCK ~. ~ .., THIS r ' ~~ `~°Y~ AGREEMENT, made this ~~ ~~ ~ -___-_ day of December, 2010, `;' =-~ n ~ f :- ~.~ ' .~:~ WITNESSETH: -,__ ... _ _ ~ ~.~-~ THE CIRCUMSTANCES leading up to the exe ~7 ~. cution of this Agreement are s follows:~~ry ~~~~ 1 • Hang Touloumes, a/k/a Harry N. Toulou mes (the "Decedent"), a married man, died testate on September 19, 2009, a resident of East Pennsboro Township, Cumberland County, Pennsylvania. 2• The Decedent was survived, inter alia b - ~ y his widow, Mary Touloumes (the "Surviving Spouse"). 3 • In response to the Petition for Refonnatio nand Merger of Decedent's Inter-Vivos Trusts, filed by the Surviving Spouse, the O h ~ ans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania the " ( Court") entered a Decree dated Ma 25 (the "Decree"), a co Y , 2010 py of which is attached hereto as Exhibit "A" and i s telly Incorporated herein by this reference. 4• By the Decree the Court reformed the D ecedent's inter-vivos trusts in accordance with the request of the Surviving Spouse and the D ecedent's other descendants. As p~ of that judicial reformation, the Surviving Spouse a re g ed and was ordered by the Court to make the .~- following individual charitable contributions (collectivel y, the "Contributions") to the organizations indicated, with the same to be paid in full not lat er than May 25, 2011: a• $25,000 to Boyd Memorial Center, a Division of the Pr esbytenan Church of Harrisburg, a1k/a pine Street Presbyterian Church 310 North Third Street, Harrisburg, PA 17101 (the `Boyd Center"), without restriction as to use. b• $50,000 to Holy Trinity Greek Orthodox Cathedr al of Harrisburg, 1000 Yverdon Drive, Camp Hill, PA 17011 (the "Greek Cathed ral"), without restriction as to use. 5• The Boyd Center and the Greek Cathedral are each herein referred to as a "Charity" and hereinafter collectively referred to as the "C harities". The Surviving Spouse now desires to make the Contributions to the Charities, in full and complete satisfaction of the Charities' respective rights as set forth in the Decree. 6• The Surviving Spouse desires to satisfy the Contri buttons by making an in-kind donation and transfer of readily marketable securities so t hat each of the Charities receives the pecuniary amount respectively due to them under the Decree. 7• The Charities desire to accept readily marketable securities for the foregoing uses and purposes, and are executing this Agreement in order to acknowledge their consent to the receipt of the same and, contingent upon actual recei t to r P ~ elease the Surviving Spouse, in full satisfaction of their respective rights under the Decree. NOW THEREFORE, in consideration of the fore oin g g and intending to be legally bound hereby, severally and not jointly, the Surviving S ouse P and the Charities, for themselves, their assigns and successors, agree as follows, to wit: A• The Surviving Spouse shall assign and transfer marketable securities with a fair market value on the date °f the Charities readily Charity of not less than the amount to which each Char' °f the receipt by each lty is entitled. B• Contingent upon actual receipt by transfer to existin brok Charity of readily marketable securities with not lesgthan thef airccounts of each which the Charity is entitled, each Charity acknowledges its res e market value to readily marketable securities in full satisfaction of the Charitiespreslve receipt of under the Decree. pective rights C• Contingent upon actual receipt by transfer to existin brok Charity of readily marketable securities with not les~than thefairccounts of each which the Charity is entitled, each Charity irrevocably remises re market value to claims and discharges, absolutely and forever, the Survivin S ~ ou eases, quit- her heirs, successors and assigns, of and from any and all a g ions se, including accounts, reckonings, liabilities, claims and demands relating in an awae tosth Decree and to the matters described therein. y y e D• The Surviving Spouse and the Charities consent to the Co jurisdiction over them in any suit or action arising out of the enforclsing personal Agreement. ement of this IN WITNESS WHEREOF, the Surviving Spouse and the Charitie s have executed the attached Consents, with the same to be effective as of the date first ab ove written. A YFIUE COPY FROM RECORD In Testimony wherof, I hereunto ~~•~~~ ~ ~ ~~ ~~ sest-my hand s~rtd ti'te steal of said Court at Carlisle, PA °fhi* ~~"ay of ~ i ~ Chrtc the~Orpfisna Court Cumbarland C©urt3- n _ Robert R. Churcr~, Esquire _ ^T~~ `` ~-! r-'ti~ . . =~' {:-:~': Attorney LD. # 4~~385 -°+~,r~ " - rv ~-=~- -:~~' ~ ~_: Keefer Wood Allen & R h _ ~%. ~,"~ l~ Ur ±~ ` " ''~ ~~' a al, LLP 210 Walnut Street ~`~~-~~~ {~~ - ~' ~".- '~ -' P.O. Box 11963 :~ r ~~~ _ ~ ~-- -'=~ Harrisburg, PA 17108-1963 - ~ ~~~~ (717) 255-8059 c: :; - w ~ ~ ~' "` Attorney for Petitioner IN THE MATTER OF THE ESTATE AND TRUSTS OF ~ IN THE COtJRT' OF COMMON PLEAS HARRY TOULOUMES, a/k/a CLIMI3ERLAND COUNTY, PENNSYLVANIA HARRY N. TOt7LOUMES, ~ OK-pHANS' COURT DIVISION DECF,ASED ~ NO. 2009-01166 DECREE FOR REFORMATION AND MERGER OF DECEDENT'S INTER-VIVOS 'TRUSTS LiNDER 20 pa, C,,S,,A, '7740.1(b , 7740.5 AND 774 ~.a AND N "- ~~ OW, this ~.~ day of ~ -----~? , 2010, upon consideration of the Petition of 1VI ary Touloumes (individually and as Co-Executor), and u of p 1 consideration of the materials filed therewith, which have been made; part of the r ecord of this case, and upon the Court's discretionary powers set forth in Sections 7740.1 (a), 7740.5 and 7740.8 of the Pennsylvania Uniform Trust Act, 20 Pa. C. S.A. §~7740.1(a), 7740.5 and 7740.8, it is hereby ORDERED, DECREED AND ADJUDGED as follows EXHIBIT A 1 • The Court finds that the interests of all minor lul born or unascertained beneficiaries are adequately represented by the conse rating beneficiaries hereto. 2• That certain inter-vivos Trust Agreement dated ~ March ~6, 1980, between Hari-y Touloumes (the "Decedent"), as settlor, and Fulton Ba « nlc, as Trustee (the 1980 Trust") is hereby amended and reformed as hereinafter set forth, with such ref ormation to be effective foi• all purposes from the date of the Decedent's death, September 13 20 09. 3• The 1980 Trust is hereby merged, for all ur ose p p s, with and into that certain inter- vivos Trust established by the Decedent, as settlor and F ulton Bank, as Z,rustee, by that certain inter-vivos Trust Agreement, dated March 19, 1986 th " ( e 1986 Trust Agreement"). 4• Fulton Bank, as Trustee of the 1980 Trust, shall at all times and for all purposes, hold, administer and distzibute any and all trust ro ert p P y of the 1980 Tz•ust, including accrued income, in accordance with the terms of the 1986 Trust Agreement, and such Trust Agreement is hereby ratified and approved for all purposes and i s hereby deemed to have been fully executed and accepted by the Trustee during the Decedent's lifetim e, as of September 19, 2009. 5• In lieu of the charitable benefits provided in the D ecedent's Trust Agreements, the Petitioner, Mary Touloumes; individually, shall make the following individual charitable contributions to the organizations indicated, with the same to be paid in full not later than one year from the date of this Decree: a• $25,000 to Boyd Memorial Center, a Division of the Pre sbyterian Church of Harrisburg, a/1-,/a pine Street Presbyterian Church 310 North Third Street, Harrisburg, Pennsylvania 17'; O1, without restriction as to use. b~ $50,000 to Holy Trinity Green Orthodox Cathedra 1 of Harrisburg, 1000 Yverdon Drive, Camp Hill, Pennsylvania 17011, withou t r estriction as to use. 6• Fulton Bank, as Trustee, is discharged from an an y d all obligations to make distribution of any part of the Trust Estate to Bo d Mem ' Y orlal Center, a division of the Presbyterian Church of Harrisburg, a/lc/a Pine Street Pre sbyterlan Church, 310 North Third Street, Harrisburg, Pennsylvania 17101 ide ' ntified in the 1986 Trust Agreement as Boyd Memorial Center, 234 South Street, Harrisburg, Penns lv ' y ama, and Holy Trinity Greek Orthodox Cathedral of Harrisburg, 1000 Yverdon Drive, Cam Hill P ,Pennsylvania 17011. By the Court: ~~~~ ~ ,!_ In Orphans' Co rt Division' DISTRIBUTION LIST: Holy Trinity Greek Orthodox Cathedral of Harrisburg, 1000 Yverdon Drive, Cam Hill P Boyd Memorial Center, a Division of The Presbyterian Church of Harrisburg, a/Wa pine A 17011 Church, c/o Elyse E. Rogers, Esq., Keefer Wood Allen & Rahal, LLP, 635 N. 12`h Street Pennsylvania Office of Attorney General, Charitable Trusts and Street Presbyterian General, 14`x' Floor, Strawberry Square, Harrisburg, PA 17120 rganizations Section, Attn: John L. DowningnD Put] A43 Thomas A. French, Esq., Counsel for Fulton Bank/Clermont Wealth Strategies, Rhoads y y Harrisburg, PA 17108-1146 & Sinon, LLP, P.O. Box 1146, Robert R. Church, Esquire, Keefer Wood Allen & Rahal, LLP, P.O. Box 11963, Harris burg, PA 1 7 1 08-1 963 In Re: HARRY TOULOUMES A/K/A HARRY N TOULOUMES ORPHANS' COURT DIVISION COURT OF COMMON PLEAS OF CUMBERLAND COUNTY PENNSYLVANIA N0.21-09-1166 CERTIFICATE OF SERVICE OF ORDER ORDER DATE: OS-25-10 JUDGE'S INITIALS: JWO TIME STAMP DATE: 05/25/10 IN RE: -- DECREE FOR REFORMATION AND MERGER OF DECEDENTS INTI ,,,,,,,,,,,,,,,,,,,,, SERVICE TO: ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, HOLY TRINITY GREEK ORTHODOX CATHEDRAL OF HARRSIBtJRG BOYD MEMEORIAL CENTER PENNSYLVANIA ATTORNEY GENE THOMAS FRENCH ESQ ROBERT R C`T-1T ru ru RAL O] METHOD OF MAILING: ® USPS ^ RRR ^ HAND DELIVERED ^ OTHER MAILED: OS/_ ENVELOPES PROVIDED BY: ® PETITIONER ^ JUDGE ^ CLERK OF ORPHANS COURT VIVO ,,,,,,,,,,,,,,,,,,,,,,,,, SERVICE TO: ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, METHOD OF MAILING: ENVELOPES PROVIDED i3Y: ^ USPS ^ RRR ^ PETITIONER ^ OTHERDELIVERED ^ C DGE ^ LERK OF ORPHANS COURT MAILED: Dep Cler of Orphans' Court IN THE MATTER OF THE ESTATE AND TRUSTS OF HARRY TOULOUMES, a/k/a HARRY N. TOULOUMES, DECEASED IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION N0.2009-01166 EXHIBIT B TO RECEIPT AND RELEASE RE: CHARITABLE GIFTS OF STOCK I• To Boyd Memorial Center, a Division of the Presb Brian Yt Church of Harrisburg: Date Corporation No. of Current Fair Shares Market Value 1 • April 28, 2011 The Hershey Company 436 $25,087.00 TOTAL 436 $25,087.00 II. To Holy Trinity Greek Orthodox Cathedral of Harrisbur g• Date Corporation No. of Current Fair Shares Market Value 1 • December 27, 2010 The Hershey Company 1,050 $50,142.75 TOTAL 1,050 $50,142.75 IN THE MATTER OF THE IN THE COURT OF COMMON PLEAS ESTATE AND TRUSTS OF CUMBERLAND COUNTY, PENNSYLVANIA HARRY TOULOUMES, a/k/a ORPHANS' COURT DIVISION HARRY N. TOULOUMES, : DECEASED N0.2009-01166 CONSENT TO RECEIPT AND RELEASE RE: CHARITABLE GIFTS OF STOCK THE UNDERSIGNED, ~'L Se ~ . (~ ~S , an authorized officer of BOYD MEMORIAL CENTER, A DIVISIO OF THE PRESBYTERIAN CHURCH OF HARRISBURG, a/k/a PINE STREET PRESBYTERIAN CHURCH, located at 310 North Third Street, Harrisburg, PA 17101, hereby consents to the Receipt and Release Re: Charitable Gifts of Stock, dated December ~Z 2010 (the "Release"), a copy of which, including Exhibit A thereto, has been provided to such officer. BOYD MEMORIAL CENTER, A Division of the Presbyterian Church of Harrisburg, a/k/a Pine Street Presbyterian Church By: ~ . Name: ( £ Title: U, < o r s~9~.s . COMMONWEALTH OF PENNSYLVANIA ~~ COUNTY OF ~~-~-i'~- .~,~ : SS. On this, the ~ ~'l~- day of l~-Tc~-~z-~~~ 201 ~ before me the un personally appeared ~. - ~ dersigned officer, who acknowledged himself/herself to be an authorized officer of Bo d Memoria enter, a Division of the Presbyterian Church of Harrisburg, a/k/a Pine Street Presbyterian Church, and that he/she, as such officer being authorized to do so, executed the foregoing instrument for the purposes therein contained by signing the name of such non-profit organization by himself/herself as such officer. IN WITNESS WHEREOF, I have hereunder set my hand and official seal. Notdry Pu ~ @~~~~• - AE_+f~~~3~F'EP~1+lSYLVr11*IIA NOTARIAL SEAL C~'~NTHIA J. RULE, tJotary Public L~!i~yne 3oro., Cu~~berland Court IN THE MATTER OF THE IN THE COURT OF COMMON PLEAS ESTATE AND TRUSTS OF CUMBERLAND COUNTY, PENNSYLVANIA HARRY TOULOUMES, a/k/a ORPHANS' COURT DIVISION HARRY N. TOULOUMES, DECEASED NO. 2009-01166 CONSENT TO RECEIPT AND RELEASE RE: CHARITABLE GIFTS OF STOCK THE UNDERSIGNED, Nick T ~t eo 1~+~ ~~S , an authorized officer of HOLY TRINITY GREEK ORTHODOX CATHEDRAL OF HARRISBURG, located at 1000 Yverdon Drive, Camp Hill, PA 17011, hereby consents to the Receipt and Release Re: Charitable Gifts of Stock, dated December ZZ 2010 (the "Release"), a copy of which, including Exhibit A thereto, has been provided to such officer. HOLY TRINITY GREEK ORTHODOX CATHEDRAL OF HARRISBURG By: Name: J11 ~ ~,l~ I{ N~ 5 Title: r t ' ~ ~v~~ ~ K COMMONWEALTH OF PENNSYLVANIA COUNTY OF ~ o~ K + ~, : SS. On this the ~~ ~da of ~ ~~ ~1 2 10 y _, 0_, before me, the undersigned officer, personally appeared ~ ~ k i ~ N ,mss ,who acknowledged himself/herself to be an authorized officer of Holy Trinity Greek Orthodox Cathedral of Harrisburg, and that he/she, as such officer being authorized to do so, executed the foregoing instrument for the purposes therein contained by signing the name of such non-profit organization by himself/herself as such officer. IN WITNESS WHEREOF, I have hereunder set my hand and official seal. 1~~~ COMMONWEALTH OF PENNSYLVANIA Notary Public NOTARIAL SEAL CHRISTINA L. NICHOLAS, Notary PubNc Lower P~c~ort Twp., Dauph~ Comittyy Comrni:sia- June Z0, 20i3 IN THE MATTER OF THE IN THE COURT OF COMMON PLEAS ESTATE AND TRUSTS OF CUMBERLAND COUNTY, PENNSYLVANIA HARRY TOULOUMES, a/k/a ORPHANS' COURT DIVISION HARRY N. TOULOUMES, DECEASED N0.2009-01166 CONSENT TO RECEIPT AND RELEASE RE: CHARITABLE GIFTS OF STOCK THE UNDERSIGNED, MARY TOULOUMES, the surviving spouse of the late Harry Touloumes, deceased, hereby consents to the Receipt and Release Re: Charitable Gifts of Stock, dated December LZ , 2010 (the "Release"), for the purposes expressed therein, and also acknowledges receipt of a copy of the Release, including Exhibit A thereto. MARY ULOUMES COMMONWEALTH OF PENNSYLVANIA SS. COUNTY OF pn K r~ ~ '^ On this, the Z~ day of `~!~r'~'~-+ , 2010, before me, the undersigned officer, personally appeared MARY TOULOUMES, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that she executed the same as her free and voluntary act for the purposes expressed therein. IN WITNESS WHEREOF, I have hereunder set my hand and official deal. COMMONWEALTH OF ~"ENNSYLVANIA Notary Public NOTARIAL SEAL CHRISTINA L. NICHOLAS, Notary Public Lowy Paton Twp., Dauphin County Comrrtipion June 20, 2013