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HomeMy WebLinkAbout09-29-11IN RE: IRREVOCABLE LIFE INSURANCE TRUST AGREEMENT OF W. STEPHEN FORREST AND CAROLE A. FORREST DATED APRIL 20, 1998 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNT`, PENNSYLVANIA ORPHAN'S COURT DIVISICIN No. 21-11-0914 PETITION FOR LEAVE OF TRUSTEE TO RESIGN AND NOW, this Z~day of , 2011, comes the Petitioners, W. Stephen Forrest and Carole A. Forrest, by and through their counsel Salzmann Hughes, P.C.,~~file thc- --- ~P-, within Petition for leave of Trustee to Resign and aver as follows: , ~._, _. ~ ~, - - _~ - ,~ 1. Petitioners are W. Stephen Forrest and Carole A. Forrest, adult individual.residing ,at ~ ~ cT~~ ;, 2251 Longs Gap Road, Carlisle, Cumberland County, Pennsylvania. 2. Petitioners are the Settlors of an Irrevocable Life Insurance Trust Agreement dated April 20, 1998, hereinafter referred to as the "Trust" and attached hereto as Exhibit A. 3. On August 29, 2011, Petitioners filed a Petition For Leave of Trustee to Resign of the Irrevocable Life Insurance Trust Agreement to permit Wells Fargo Bank, N.A., to resign as Trustee and allow Orrstown Bank be appointed as successor Trustee 4. By Order of Court dated August 31, 2011, this Honorable Court granted V~Jells Fargo Bank, N.A., leave to resign and Orrstown Bank was appointed as successor. (See Order of Court attached hereto as Exhibit E). 5. Unfortunately, since the time of the Order of Court, it has been brought to our attention that, although the photocopy of the Trust attached to the original Petition appeared to state the date of the Trust as "this 26th day of April, 1998", in actuality, the date of the Trust is "this 20th day of April, 1998." (See more clear copy of Trust attached hereto as Exhibit A). 6. Accordingly, it is respectfully requested that a corrected Order of Court be i ssued stating the correct date of the Trust as April 20, 1998 in both the Order and caption thereof. 7. Wells Fargo Bank, N.A., is willing to resign as seen on the resignation with corrected Trust date attached hereto and incorporated herein as Exhibit B. 8. Orrstown Bank consents to its appointment as Trustee of the Trust as seen on the letter with corrected Trust date attached hereto and incorporated herein as Exhibit C. 9. The residual beneficiaries of the Trust are Settlors' children, Heather N. Housel, 11 Morrison Way, Carlisle, PA 17015 and Jillian M. McGeehan, 1901 Waggoners Gap Road, Carlisle, PA 17013, are of full age and sound mind and consent to the proposed resignation of Wells Fargo Bank, N.A., and the proposed appointment of Orrstown Bank as Trustee as seen on the affidavit attached hereto and incorporated herein as Exhibit D. 10. There are no other persons interested in this application or proceeding. Wherefore, Petitioner respectfully requests the following: 1. That Wells Fargo Bank, N.A., be granted leave to resign such as Tnzstee of the Trust; 2. That, after due accounting, Wells Fargo Bank, N.A., be discharged from such Trust and released from all responsibilities in connection therewith; 3. That Orrstown Bank be appointed as successor Trustee of the Trust; and 4. That the Court order such other and further relief deemed just and proper. Respectfully submitted, SALZMANN HUGHES, P.C. Date: c By; G~ Susann B. orriso ,Esquire Supreme Court No. 77041 354 Alexander Spring Road, Ste 1 Carlisle, PA 17015 (717) 249-6333 ~ Z ~ (~ Attorney for Petitioners rv~c~>~r1.~ ~,r~~ r~r~u.~v~~ T~u~T ~.~~~~~1~T This irrevocable trust agreement is made in duplicate this ~7D~~~,day of April, i99$, between W, Stephen Forrest and CarAle ~,. arrest, of 251 Lams Gap .IZ.oad, Carlisle, Cumberland ~aunry, Pennsylvania, hereinafter called "Settlors;" arxd CareStates Bank, ]ALA., of 34 ~iorth Third Street, I3arrisburg, Dauphin County,l'ennsylvania, hereinafter called "Trustee." ~.~ The Settlors have caused or will cause khe Trustee to be designated as the owner of and the beneficiary of the proceeds ofthe policies of insurance .listed in Schedule "A" attached herett~, and hereby transfer to the said 'T`rustee all their incidents cif awnersh.ip in said policies and. iA any policies issued in replacement thereof, The Trustee shall hold said policies and the proceeds theret~f or the cash received from the surrender thereof, together with any additlc-ns thereto as hereinafter provided, as a Trust estate, shall invest end reinvest any assets other than unmatured insurance pr~llcies and shall distribute the net income (hereinafter called "Income") and principal as set Earth in the following provisions. A. I~uriug the Setklars' life~nes, the Trustee may pay auiy Income tai the Settlars' children, Heather 1V. Hansel and Jillian 1V1. Forrest, in such shares as it deems advisable, ar may add portions or alI oi`the Income to principal Find invest J it as such. During each year in which transfers, including the initial fwidi.ng, are made directly pr indirectly to the trust, each living child afthe Settlors shall have the right to withdraw from principal suoh sums as shall not exceed a pe.r Capita share of such excess. transfers, the amount specified in Section 25g3(b) of the Internal Revenue Code, or the maxizr~um amount gpeeified in Section Z`i 14{e), whichever amount is the smaller. Such rights afrvithdrawal shall not bE. cumulative and shat! terminate if net exercised within thirty {30). days aver the Trustee nati>;ies the child of the tt~ansfex. The beneficiaries shall be natitied of their powers of withdrawal in sufficient time to exercise them, Notwithstanding the fore:gQing, the Settlors may direct at the time of malting the transfer that not alI such persons shall have a right of withdrawal, xhat such right shall lapse at a different time, or the amount or share which each xnay witladrat~v. The Trustee may satisfy any demand under this Article for a distribution by distributing Gash, other assets or fractional interests in other assets, as. the Trustee in its sole discretion desrns apprap~riate. Without limiting the Trustee's power to select assets to satisfy a demand, the Settlors prefer that casf~ or tatxgiT'le assets be distributed before life insurance policies or other intangible assets, unless the Trustee decides that another selection is warranted. The Trustee's selection as to farni and source ofpayment shall be 2 final and binding an any benef ciary. B. IJpan the death of either SettIor, ifany partian oftYie Trust Estate is i.nclgded in his or her dross es~te for l~ederal Estate Tax pu~oses, ~e Trustee shall pay to the personal representative of the Settlors's estate ar shall pay directly the additignal Federal Estate Tax, if any; resulting from such inclusion, provided that fur~~ls are avaiIabl~ in the Tn2st Estate for safd payment #G~ be'rnade. C. The rest of the Trust Estate upon the death of Settla~rs shall be held ar distributed in accprdance with the gravlsions of Arkicle Two of this Trust Agreement. ~~ Upon the death ofthe second of the Settlors to die, tlhe principal shall be divided into twQ equal shares for ~e Settlars' children, feather N'. fousel and ,TiIlian M. Forrest, and each share shall be held as a separate lxust or,, in the case of a deceased child, shall be distributed as is hereinafter set forth. A.. Duriung the ]ifetime of each child, the TY~ustee shall pay the Incame from his ar her trust to ar for the benefit of said child, and if tkie Trustee considers the income to be ir~uf~cient, in view of other readily availabi~: funds of which it Itas knowledge, to pravida for the welfare and cQrnfartable support of said child and her family, including educational and fiancral expenses, the Tn~stee is 3 authorized in its discretion to use such sums from principal as it deems advisable there fore; ~Rp']LD however, that immediately upon fiwding such s.°p~i'atE share in the tnist, sand child may withdraw all or any part ofthe princip~~l. ~. Upon Xhe death ~f each child, iffier trust has not already terminated, or upon the division into shares under the aforementioned subparagraph ~1. in the case Qf a child who is not then living, the principal of said child's share shall. be transferred and delivered to or for the benefit of such one or more pcrscns, caxporations or other organizatiat~,s, in such portions ar amatxnts end subject to such tarusts, terms and. conditions as said child may appoinf by specific referernce to this ~irticle in her will. If said child does not exercise this power of appointnc~ent in full, . the unappointed principal shall be transferred and delivered to his or her then living issue-per stirpes or, if'she has gone, shall be added; to the share of Settlors'S Qther child r~rho is living or, if deceased, has issue then lirrt'ng and shall be held ur distributed as if the latter share were being set aparC at that time;l?R~3VYl~E1~, hawewer, that the share of gray grandchild of Settlors under the age oftw+~nty-one (21) years whuckt is mare than the amount which may be paid t~ the natiu•al guardian cf a minor shall be retained in a separate trust, as follows: (l } C,Tntil said grandchild's twenty-first (21st} birthday, the "frustee may pay to Said grandchild or tQ the person, having custody of ;him or her, without liability Qn the part of "i'rustEe to sec to the applicatipn thereof, or may upend directly such sums fxom Income ar principal as it deems advisable. far his or her welfare, comfortable support and education, in view of other income of which it has l~nowledge, and shall add. any excess Income to principal and invest: it as such. (Z) Upon said grandchild's twenty-first (21st) birkhday, the trust shall terminate, and xhe principal shall be t~rransfer<ed and delivered to him or her free of trust. Xn the event of his or her prior death, the principal, including any accrued ar undisfiributed Income, shall be transferred and delivered to or for the benefit of such qne or more persons, corporations ar other organizations, including his or her estate and creditors, in such portions or amounts an subject to such trusts, terms and conditions as said grandchild may appoint by specific reference to this Article in his or her will; and any unappoutted principal and Tncame shai'.1 he transferred and delivered to said grandchild's surviving children equally or, if hear she has none, then to the then living issue per stirpes of lus or .her parent who was the Settlors' child, the share. of any other grandchild of the. Settlors uRnder such agir tp be added to his or her separate trust. ~. Tf the 5ettiors have na issue living at the death of the survivor nr S his spouse,111s Gllildren, any grandchildren aEnd him, any remai~liz~g principa! shall be transferred and delivered to those persons who would have been entitled thereto if the Sattlarg arzd his wife had each owned ane~half ('/) theraafand they had bath died at that time intestate, utlxnaxried and domiciled in ~er~syivannia. :~ A. If any remaindezmau ender the foregoing provisions is a manor artd is entitled to a share in excess of the amount which nnay be paid' to his or her natural guardian, such share shall vest in said rem-a.indert7tan but shall be retained by the Trustee in .a separate trust until the eighteenth (l 8th} birthday of said rerr~ainderman, at which time the tryst shall terminate and the griracipal shall be transferred and delivered t4 him ar her free of trust. During such minority period, the Trustee may pay to the person having custody of said remaindertxtarl, without liability an the part of the Trustee to see to the application thereof, ar may expend. directly so much of the Income and principal as it deems advisable far thE: welfare, comfortable supparx aczd education o~'said rertlalndennan $nd shall acid ar.~y excess .Yncome to principal and invest it as such. In the event of the death of said reutainderman during minority, the Tz`ustee is authorized in its discretion to pay park of alt ai:'the funeral expenses, and the remaining principal steal! be transferred and delivered to said remaiMderman's estate. b H, The interest of any benef ciary hereunder, including a remainderman, in Income ar principal shall not be subject to assigttment, alienation, pledge, attachment yr claims o:f creditors until after payment lass avtuall;y been made by the Trustee as hereiubefore provided, ~. U'pan the death of any Income bene$~iary, amp income accrued ar received by the Trustee subsequent to the last Income payment date shall be paid to the person or persons for whose benefit the principal producing such Income in continued in trust ar to whom such principal is distributed under the terms hereof: I). Corporate distributions received in shares of the distributing corporation shall be allocated tp principal, regardless of the number of shares and however described ar designated by the distributing corporation, FS~ A, The Trustee is vested with all rights of awnersh~ip in the life insurance policy or policies deposited and held hereunder, including the right to exercise any option with respect to any dividends accruing thereon. In the case of any insurance policies which tna~+ be issued by Ssttlars' employer, and which milt' be added to the Trust Estate, if the Settlars' said employer changes its master plan carrier, the Trustee shall autonaatica.lly become the owner of any policy issued as a 7 replacement for any policy transferred to it hereunder, and the Settlors agree to sign any papers necessary to effectuate the same. In the event of the termination of a Settlor's active employment prior to his ar her death, the Trustee is aud~ariz~d in its discretion to convert any pc~Iicy orpolieies of group term Iife insurance to individual p4iicies of term insurance or whole life insurance,. ar a sirnil~~r product then available, on the life of said Settlor or may decline to convert such policies, as the Trustee in its sole discretion shall determine, and the Trustee shall have all rights of ownership in the palioies resulting from such conversion. The Trustee shall have na duty to pay premiums on any policies held hereunder, but may t~se any available assets for this purpose. 1<f at any time payment of th.e premiums is not being made from any source or if far ~y other reason the Trustee deem:a such aetign to be inadvisa}~le, the Trustee may exercise any option available to it under such policies or tray surreudec one or more for the cash value thereof or may tzansfer and deliver one or mars to the persons uti-ho would be I'ncame benel'~ciaries if the Settlars were not living. LTpan the death ova Settlor, Qr at suah od'~er time as may be specified in the policies, the Trustee shall collect the neC proceeds of any' policies then payable to it. The receipt of the Trustee for moneys received from the insurance companies on any policies shall release the insurance cornparu+es from 8 liability with respect thereto, and the insurance companies shall be under no duty tp see to the application of such moneys. The Trustee raay take all steps nE:cessary in its opinion to enforce payment of any policy and shall be entitled to indemrtify~ itself out of any property held hereunder against all expex~,ses i-acurred in takin;~ such action. The actions of the Trustee with respect to any riolicy held hereunder shall not be subject to question by any person. Trustee shall incur no liability with respect to any policy of life insurance held hereunder at arty time, far any action taken by it, or for its failure to take any action, in the exercise in goad fail:h of the rights and powers hereinabove conferred upon it with respect to the seleci:ion process of a policy of life insurance, the evaluation of the underlying assets of ~y policy from time to time; or the cantintxed retention Qfarty policy. ~. The Txvstes shall also have the following powers, in addition to and not in limitation of those granted by law; to accept assets in kind from the SettIors' estate ar elsewhere; to purchase assets from the ~ettlprs' estate; to lend money to the estate; to retain assets in kind or to sell the same and to iinvest and reinvest the proceeds and any other cash in any kind of property, real or '~ personal, or part ingest therein, located in the United States or abroad, including interest~beaxing accounts in ar certificates issued by the banking departmexlt of any 9 corporate Trustee serving, and seG~.trities underwritten by syndicates of which the corporate Trustee is a member but not purchased f~'oua the Trustee, alI statutory and other limitations as to the investment of funds, norN or heresfter enacted or in fence, being waived; to invest in cowman trust funds and praprietaty mutual fiends of the corporate trustee, and of it afFiliates, subsidiaries and successors; to retain or to purchase policies of life insurance, to pay premiums thereon &arn income or prinoipal and to exercise alI rights of ownership thereaver; to pledge, exchange or mortgage real or personal property and to Iease the same for terms exce~:ding five (S) Years; to give options ~'or sales, leases and exchanges; to borrow man:ey; to carnpromise claims; to vote shares of carporate stock, in person ar by pr~axy, in favor of or against management proposals; to carry securities in the name; Qf a nominee, including that of a clearing corporation or depositary, or itt bank entry farm ar unregistered ar in such other form as will pass by delivery; to ms~lce division or distribution hereunder either in cash or in kind; and, in connection therewith, to allocate to different shares different kinds a£ or interests in property and property having dii~erent bases far Federal income tax purposes, all tzs the '~ Trustee deems equitable. The Trustee is specifically authorized to accept inn kind ~ and to retain any shams of stock of the Trustee, with no duty on the part of the id Trustee to review the same for i-AVesttrier~t puipases, but such shares shall pnly be voted on as directed by a competent adult Tncortie beneficiary of the trust in which said shares are held. The Trustee sha11 have no liability for any mistake or error of judgtuent made in ~Qpd faith. ~. 'T`he Trustee may resign at any tune, witho,at stating cause, by Petitioning a court of competent jurisdiction to designate and appoint: a successor corpflt'ate Trustee. Tn ease of the rrlerger or consolidation of the Trustee„ the resultant company shall become successor Txustee hereunder without notice to any P~Y~ la. Trustee shall be entitled to receive annual compensation for its services hereunder in accordance with its schedule of fees in meet when the Services are pexformed, but not in excess of such compensation as wQUld be approved by a court of competent jurisdiction, or which would exceed thE-t permitted by the Internal Revenue Service upon audztti and is authorized iii its sole discretion to sell securities to the extent necessary to pay any portion of such compensation which is chargeable against principal, I 1"i A. The Settlr~rs or others may add hereto, by ~4'ill, into ~ vivas transfer or beneficiary de$ignation, cash or such property in kind as is acceptable to the Trustee. B. The Sertlors acktaowled~e that they t~7derstand the nature of an irrevocable trust and specifically xenaunce all rights of &nsendment or revocation with respect hereto. ,~. should the principal afany trust herein provided for become toe small, in Trustee's discretion, so as to make continuance of the'trust inadvisafale, trustee may make immediate distribution of the then-rernainin~ principal and any aocumUla~Ced or undistributed income outright to the person or persons a~ad in the proportions they are then entitled td income. Upon such termination the rights of all persons who might otherwise have an i.nt8rE3st as suaaeeding income bez~efiGiary ar in the remainder 9ha11 cease, If any per$an to receive distribution is a minor or legally incapacitated in any way, Trusl:ee may pay the fund to the parent, guardian, or individual ar organization taping care of that person ur, with respect to a minor, Trustee may deposit thhe fund in a sai-ings account in the minor's name payable to the rxii.nor at majority. VEtV: A. As used in this Agreement, the singular may `~ include the plural and the plural the singular, and the use of any gender shall be applicable to all genders, References herein tc~ sections of the Interne! R.event,e l~ T Code shall include corresponding provisions of subsequent revenue laws. ~. This Agreement has been delivered to and accepted by the Tniskee in the Commonwealth of Pennsylvania and shall be govemcd in a.ll respects by the laws of s&id Commonwealth, Wi~lness the due execution hereof on the day and year aforesaid. 'iVl_TN]?SS: Sel1lors: I. W. Step an Forrest ~~ Y Carols A. l~arrrst M TRUSTEE ~/ -~, S'„~~ -!~' ~/r'`a~+~"~ gam, Vice President and Trust Offtcsr 13 ~ONiMOI•~ALTH OF FiJNNSYLVANIA ;. .. ss_ ~CJIINTY t~F CI~ERLANf7 .. On this, the,~~'`~day of ~. , 1995, before tree, the undersigned officer, personally appeaared W. Stephen Forrest and Carole A, Forrest, huslaand and wife, known tome (or satisfactorily proven) tq be the persons whose names ~ subscribed to the within irastru~menx as Settlors, a,zd aclcuowledged that they executed it for the purposes stated i>~ it. yViL~ess nay heed and seal. iBR~B~ . y i7~p1.t1ER, NaSpry lido ~"~~; '' ~, ca-~ ~, a sati. ~t. ~c~a hjo ubliq Ct7MMONW~,ALTH QF P~NN'S~L,V'ANiA ,. ;; ss. Ct~~N"'!"Y' (?F C'I,FMBERL,A.N~] .. On this, the Day of , 1998, before me, the undersigned officer, personally appearsd who acknowledged himself ar herself to be ~ pf CoreStates )3r~nk, N.A., and thtat he qr she as such corporate officer, beitxg authorized to do so, executed the foregoing instrument f'or the purposes stated in -it by signing an behalf of CorcStates Saxxk, N.,A. ~; Witness gay hand and seal. Notary' Pub1iG '-~~ 5 .Pskliay Number Face Amaunt nnua.l pr~j~ cry.. s ~ 8s i ~~ ~~oo,ago.aa ~ 1,4sa.oo MassMuluel 11 007 26~ $40d,QOD.00 $5,486,00 ~~T1T~ IJ,l..ll:r ~~~;,77 coi,~rl~arrov~AZ,~x of >?~~trts~vn~rr~. , .. ss. COUNTY of CUMl3~R1:,AND .. 4 t w On this, the~~'day of ~.t..~-~-~.. ,1998, before mQ, th~~ undersigned officer, personally appeared 1N Stephen Forrest end Carole A. I'orrest, husband and wife, known to me (or satisfactorily proven) to be the perSans whose names are subscribed to the within instrument as Settlors, and acknowledged that ~,,..t~'i~ji,aXCGU~d it for the purposes stated in it. r~tia`~ }~~ess my hand and seal. %~~ •;'~. _...~~r~ 3. ~L1Y~~5n~ wY ~+e* FW.91.20~0 ~O ub11C r ` ' w •, ~~i., ~' k ._ ~ , COM1~foI+TVVEAr.Ti~ Ofi PENNSYT.VANYA .. CaUN1YY !?F CUIt~ERC.AI~D -- ss, On this, the ~' Day of !'htu~ , 1998, before me, the undersigned officer, personally appeared Sf~en N• 7-arrG+.r-c e , who ackn.owledgad himself or herself to be p~'~~er og CoreStates Bank, I~.A, end that he or she ns such corporate officer, being authorized to do sa, executed the foregoing instrument for the .purposes stated ir-.it by signing an behalf of CpraStates Bank, N.A, ~~, Witness my hand artd seat. a ~,.• ~,•• ~ ;,~~ s•'';=~? %s r Not ublic ' ~„a ~ ^~ ~~ ~ a NoWU18ao1 r~ ~•^k ' • ~ Pe~.r~ (. 919vebfdotarypOF,llp q ~~,. ~ ...+ ,0.V ~fi wrtlotup, oeupl*, caw~y ='r q\\~~~{L` MV~nlml~lagF-~bo+Ox.10~ 1908 . ". Mamb9r, Ae01~aVN9N8 A980Cl81iQt d NOk0~1e9 RESIGNATION OF TRUSTEE Wells Fargo Bank, N.A., is the Trustee of the W. Stephen Forrest and Carole A. Forrest Irrevocable Life Insurance Trust agreement dated April 20, 1998 {the "Trust"). Pursuant to Paragraph 4(C) of the Trust, Wells Fargo is authorized to resign as trustee of the Trust. Wells Fargo hereby delivers its written notice of resignation to the grar,~tor as well as the adult beneficiaries, such resignation to be effective inunediately. WELLS FARGO BANK, N.A. State of North Carolina) ss. County of Rowan) By: Gary . Al ord Its: Vice President This instrument was acknowledged before me on 2011, by ~~~ 1 - ~~~'~ the of Wells :Fargo Bank, N_A. Christ na J. ortune Raruan Coun ry iVortlt Carolina M Commission Ex ices 9 2016 -.~ c'~\ Notary Public My commission expires: ~`~' {, a PETITIONER'S J EXaHIBIT ~ V ~ ---- SEP-29-2011(THU) 10:23 P. 002/002 C~~sTawr~t FIl~TI~NC~ ADVISO~tS A Tradition of Excellence September 29, 2011 Wells >~argo Wealth Management Onc West Fourth St. D 4000 - 423 Winston Salem, NC 27101 RB: W Stephen Forrest and Carole A. Forrest Irrevocable Life Insurance Trust dated 4/20/199$ To Whom it May Ganccrn: This is your notification that Orrstown Bank, 77 E. King St., Shippensburg, PA 17257 will accept the appointment of Trustee for the about referenced trust. . - , We are requesting an accounting of the trust since its inception and a copy ofthe IRS 554 form received for tax identification information. Please forward this information to my attartion. [f you need clarification of these requests, please feel free to contact me at 7l 7-593-6751. Thank you for your prornpt attention. Sincerely, ~~ f-' Diane M. Cordell Tru,~t QfTcer /Fiduciary Unit :1 :11c . - .. J4if.1'. EXHIBIT C ACKNOWLEDGMENT AND AFFIDAVIT WE, HEATHER N. HOUSEL and JILLIAN M. McGEEHAN, the residual beneficiaries, and W. STEPHEN FORREST and CAROLS A. FORREST, the Settlors, of the W. Stephen Forrest and Carole A. Forrest Irrevocable Life Insurance Trust, being eighteen yeats of age or older, of sound mind and under no constraint or undue influence do hereby declare and affirm to the undersigned authority our consent to the proposed resignation of Wells Fargo Bank, N.A., successor to CoreState Bank, N.A., and the proposed appointment of Orrstown Bank as Trustee of the W. Stephen Fort•est and Caro A. Forrest Irrevocabl Life Insu ce ~~ .. HEATHER HOUSEL ~' W. STEPHE FOREST COM.M:ONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLANll Truce+' . SS: On this, the ~ day of~, 201 1, before me, the undersigned officer, personally appeared HEATHER N. HOOSEL and JILLIAN M. McGEEHAN known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument, and acknowledged that they executed same for the purposes therein contained. IN W[TNESS WHEREOF,1 hereunto set my hand and official seal. COMMONWEALTH OF PENNSYLVANIA . SS: COUNTY OF CUMBERLAND Notarial Seal Wendy L. MatzQer, Notary Publ~ Dickinson Twp., Cumberland Gounty qty Commission Expires June 2, 2013 On this, the ~ day oii~°t, 2011, before me, the undersigned officer, personally appeared W. STEPHEN FORREST and CAROLS A. FORREST known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within insU•ument, and acknowledged that they executed same for the purposes therein contained. IN WITNESS WHEREOF, I I~ereunto set my hand and official seal. otary Public EXHIBIT D Notarial Seal Wendy L. Metzger, Notary Public Dickinson Twp., Cumberland County ay Commission Expires June 2, 2013 IN RE: IRREVOCABLE LIFE INSURANCE TRUST AGREEMENT OF W. STEPHEN FORREST AND CAROLE A. FORREST DATED APRIL 26,1998 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHAN'S COURT DIVISION C)RD,e R ^vF COURT AND NOW, this ~ day of ,; . , 2011, IT IS HEREBY O]fZDERED as follows: 1. Wells Fargo Bank, N.A., successor to CoreState Bank, N.A., is hereby granted leave of Court to resign as Trustee of the W. Stephen Forrest and Carole A. Forrest. Irrevocable Life Insurance Trust Agreement dated April 26, 1998. 2. Orrstown Bank is hereby appointed as successor Trustee of the W. Stephen Forrest and Carole A. Forrest Irrevocable Life Insurance Trust Agreement dated April 26, 1998. 3. Wells Fargo Bank, N.A., successor to CoreState Bank, N.A., is directed, within thirty (30) days after the date of this order, to render a full accounting of all of its actions as trus- tee, and to turn over all assets and property of such trust estate to Urrstown Bank and to execute any and all instruments necessary to effectuate this change in trustee. __,~ ,~ -_ _ -~ - ,:, ~ - r _ . _ ,.. -_: ;, -- _ - ; - _ ,-,-t - -; ~ BY THE COURT: