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HomeMy WebLinkAbout09-29-11IN RE: THE BARBARA ROUND IN THE COURT OF COMMON TRUST SHARE :PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NO. a ~ - I I - ~a3a PETITION TO TERMINATE THE DOROTHY S. HURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND IN ACCORDANCE WITH 20 Pa.C.S. 711, 7740.1(B) AND 7440.4(a) TO THE HONORABLE, THE JUDGES OF THE SAID COURT: Petitioner, CHESTER OSBORN, by and through his attorney, Wendy Weikal- Beauchat, Esquire, respectfully states the following: 1. DOROTHY S. HURRAY ("Grantor") died, as resident of Cumberland County on November 24, 2004. 2. On October 31, 1996, the Grantor formed with her husband the RALPH AND DOROTHY HURRAY LNING TRUST, a true and correct copy of which, with amendments, is attached hereto as Exhibit "A." 3. RALPH F. HURRAY, the spouse of the Grantor is also deceased, as of March 6, 2010. 4. The purpose of the DOROTHY S. HURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND was to hold assets for the benefit of Barbara Round which were transferred at the time of the death of the Grantor and during the life of RALPH F. HURRAY. 5. CHESTER OSBORN was named as the initial Trustee of the DOROTHY S. HURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND, and still serves and said capacity. 6. CHESTER OSBORN is the current co-trustee of THE RALPH AN DOROTHY HURRAY LNING TRUST, dated October 31, 1996, and all Amendments thereto. 7. The Grantors funded the DOROTHY S. HURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND with assets gifted during their lifetime, and via the residuary distribution clause of THE RALPH AN DOROTHY M[JRRAY LNING TRUST. 8. The trust has a market value of approximately $53,605.80, plus accrued interest as of the date of this petition. n Q '..~ 9. The names, addresses, and relationships to Decedent of all persons wll~~ve an .~? interest, vested or contingent, in the trust aze as follows: ;v =~ 'o '_r-. ~ ~ rv ~ri ^ v7 Current Beneficiary: Bazbaza Round = ~ ~ 11403 Newton Commons Drive x.70„ -'' Las Vegas, NV 89135 D ~ ~..._~ ~. N c: ~, ;x; ~~~~ :;~ _.: ~~ ~._ " *~ -r, _.= c=a r~ cn p -'ra Contingent Beneficiazies: Brock M. Round 411 Meridian Way Rocklin, CA. Brittney A. Lair 9062 Kittiwake Street Highlands Ranch, CO. 10. Article 12.02(b)(1) indicates that Bazbaza Round shall have the net income of her trust distributed to her. 11. Article 12.02(bX2) indicates that Barbara Round shall have access to the principal of her trust distributed to her as determined advisable by the Trustee. 12. Article 12.02(b)(5) indicates that upon the death of Bazbara Round the Trustee shall distribute the remaining trust property per stirpes to the descendants of Barbara Round. 13. Termination is requested under 20 Pa.C.5. §§ 711(2), 7740.1(b) and 7440.4(a) 14. Petitioner requests that the Court order termination of the DOROTHY S. MURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND 15. 20 Pa.C.S. § 711(3) provides, in relevant part: [T]he jurisdiction of the Court of Common Pleas over the following shall be exercised through its orphans' court division: (3) Inter Vivos Trusts.-The administration and distribution of the real and personal property of inter vivos trusts, and the reformation and setting aside of any such trusts, whether created before or a$er the effective date of this chapter. 16. Pursuant to 20 Pa.C.S. § 7740.1(b) of the Uniform Trust Act, in relevant part, "A noncharitable irrevocable trust may be terminated upon consent of all the beneficiaries only if the court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust material purpose of the trust." 17. Barbara Round is a suis juris, adult individual capable of the continued prudent management of the funds contained in the trust. The continuation of said trust is not necessary to achieve any material purpose of the trust. 18. Currently the Trustee of the Trust is an individual of 77 years, residing outside the Commonwealth of Pennsylvania. Said Trustee is serving with minimal compensation due to familial relationship. Should the trustee resign, a professional trustee, if one can be located willing to take on the duties of a small trust, would charge a minimum of 1% yearly for the administration of said trust. Adams County National Bank is named as the successor trustee, and has indicated that it would not be willing to act due to the small amount of the funds under management. 19. The value of the trust property is insufficient to justify the cost of the administration of the trust. 20. The trustee is giving written notification to the beneficiaries of the proposed termination, per Exhibit "A." 21. Pursuant to 20 Pa.C.S. § 7740.4(a) of the Uniform Trust act, in relevant part, "A trustee of anon-charitable trust may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration, the trustee has given written notice to the qualified beneficiaries at least 60 days before the proposed termination and no qualified beneficiary provides the trustee with a written objection to the proposed termination on or before the date specified in the notice. 22. The proposed termination of the Trust is not inconsistent with a material purpose of the trust and is in the best interest of both the life beneficiary and the remaindermen. 23. The consents of all of the beneficiaries of said Trust, all of whom are Buis juris adults, are attached to this petition as Exhibit "B." 24. A final account will be filed with this court upon final disbursement. WHEREFORE, petitioner respectfully requests that this Court enter an Order A. Terminating the DOROTHY S. HURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND, C. Granting such further relief as this Honorable Court deems just and proper. Respectfully Submitted, Wendy Weikal-Beauchat, Esq. 63 W. High Street Gettysburg, Pennsylvania 17325 (717)334-4515 Supreme Court Id: 71930 IN RE: THE BARBARA ROUND TRUST SHARE IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NO. NOTIFICATION FROM TRUSTEE AND NOW THIS -1-~ day of Q~ 2011, comes CHESTER OSBORN, the Trustee of the DOROTHY S. MURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND, dated October 31, 1996, and notifies all beneficiaries hereto that it is his intention to terminate said trust and pay all of the assets thereof outright to the Barbara Round, the current income beneficiary, unless and objection is lodged within 60 days hereof with the Trustee. You are receiving this notice because you are a contingent beneficiary of said trust. All objections must be lodged with the Trustee in writing, with a copy to counsel as indicated below: Chester Osborn c/o Wendy Weikal-Besuchat 63 W. High Street Gettysburg, Pennsylvania 17325 Respectfully, ~~~ - Q+~ ~ ~~c Chester Osborn, Trustee ]IN RE: THE BARBARA ROUND IN THE COURT OF COMMON TRUST SHARE :PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION NO. CONSENT OF THE BENEFICIARY I, Barbara Round, the beneficiary of the DOROTHY S. HURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND, have had the opportunity to review the PETITION TO TERMINATE THE DOROTHY S. HURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND IN ACCORDANCE WITH 20 Pa.C.S. 711, 7740.1(B) AND 7440.4(a) and hereby give my consent to the court taking such action. Date: ~ ' ~ 2 , 2011 STATE OF ~ LUAlJ~D~ COUNTY OF VtW1,Iv ss. On this, the ~ day of vn.T2L1~ 2011, before me, the undersigned officer, personally appeared known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ~~ ~~ otary Public wwut tMO Nt18@~ NOTARY PUBLJC irATE OF NEVADA IYy oa~m`.bn ~..: oz,~ta Certllkxrs No: 87-07141 ft ' ~" ~~ u A ~ t4 ~ ~ '3 IN RE: THE BARBARA ROUND TRUST SHARE IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA c ORPHANS' COURT DIVISION NO. CONSENT OF THE BENEFICIARY I, Brock M. Round, a contingent beneficiary of the DOROTHY S. HURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND, have had the opportunity to review the PETITION TO TERMINATE THE DOROTHY S. HURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND IN ACCORDANCE WITH 20 Pa.C.S. 711, 7740.1(B) AND 7440.4(a) and hereby give my consent to the court taking such action. Date: `~ / ~ / 2011 7 STATE OF COUNTY OF ~-~E sz---s.~ ss. On this, the ~~ day of 011, before me, the undersigned officer, personally appeared ~ known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereuntl ~ PATRIt~((JAA~S JUAREZ .~ U COMM. M 187esor ^ NOTARYRIBLIC-CALIFORNIR ,l L RACER COUNTY ~" Comm. Exp. JAN. 10.2014 , IN RE: THE BARBARA ROUND TRUST SHARE IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION . NO. CONSENT OF THE BENEFICIARY I, Brittney A. Lair, a contingent beneficiary of the DOROTHY S. HURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND, have had the opportunity to review the PETITION TO TERMINATE THE DOROTHY S. HURRAY FAMILY TRUST SHARE FOR THE BENEFIT OF BARBARA ROUND IN ACCORDANCE WITH 20 Pa.C.S. 711, 7740.1(B) AND 7440.4(a) and hereby give my consent to the court taking such action. Date: ~ ~ 2011 STATE OF ~ ~~ r a Gr< O COUNTY OF I)Ou St a f ss. On this, the ~ day of ~~~Sev' , 2011, before me, the undersigned officer, personally appeared (?r., ~~ y Zwc r known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. I I hereunto set my hand and official seal. ry Public My Commiszsion ExpMN OM9~14 ,. ~O.lA~ ,~ C .... ~1h7,: . °'+ " `+ ,. Pe:.-; IN RE: THE BARBARA ROUND TRUST SHARE IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION i NO. VERIF~ATION I verify that the statements made in the foregoing document are true and correct to the best of my knowledge. I understand that false statements herein are made subject to the penalties of 1$ Pa.C.S. §4904 relating to unsworn falsercation to authorities. Dater ~ ~1` 1~~- 2011 .~~ X ~.! ~~ ~~.