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Home My WebLink About10-05-11In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File iVo. 21-10-0441 Estate of Edna L. Kreider, Deceased Late of Township of Upper Allen Statement Account and Release David L. Kreider, Executor Date of Death: 04/08/2010 Date of Executor's Appointment: 04/27/2010 Date of First Complete Advertisement: 05/14/2010 Accounting for the period: 04/08/2010 to 07/08/2011 Purpose of Account: David L. Kreider, Executor, offers this Account to acquaint interested parties with the transactions that have occurred during the Administration. It is important that the Account be carefully examined. Requests for additional information or questions or objections can be discussed with: Andrew L. Saylor Atty Gibbel Kraybill 8~ Hess LLP 41 East Orange Street Lancaster, PA 717/291-1700 Supreme Court LD. No. 57291 ~ _ ~ -~~ ,;,-, -~ ~ '. i-~- r _ -, .» c , ,, . _ _ , ,~ - - ~ ___ ~ ,_ --i _._ : . ~-' ~ ~_) C .": i ~. ~/ SUMMARY OF ACCOUNT Estate of Edna L. Kreider, Deceased For h period of A ril 2010 through July 8. 2011 PRINCIPAL Receipts: This Account 405,045.18 Net Gain (or Loss) on Sales -4,090.16 or Other Dispositions 400,955.02 Less Disbursements: Debts of Decedent 8,442.82 Funeral Expenses 7,252.00 Administration Expenses 18,792.61 Federal, State & Local Taxes 10,108.78 Commissions 1,500.00 Fees 12,500.00 Family Exemption 0.00 58,596.21 Balance Before Distributions 342,358.81 Transfer to (from) Principal o.oo Distributions to Beneficiaries 294,774.67 Principal Balance on Hand 47,584.14 For Information: Investments Made Changes in Holdings INCOME Receipts This Account 12,429.99 Net Gain (or Loss) on Sales 0.00 or Other Dispositions 12,429.99 Less Disbursements 0.00 Balance Before Distributions 12,429.99 Transfer to (from) Income 0.00 Distributions to Beneficiaries 0.00 Income Balance on Hand 12,429.99 For Information: Investments Made Changes in Holdings COMBINED BALANCE ON HAND 60,014.13 Signature Verification 2 RECEIPTS OF PRINCIPAL Assets Listed in Inventory (Valued as of Date of Death) Cash 06/03/2010 1997 Toyota Sedan -sold for 3,300.00 06!03/2010 Centrylink -refund due estate 18.68 04/08/2010 Citizens Bank Checking Account #6100755673 - 17,162.99 opened 9/1211966; date of death balance (no accrued Interest) 04/08/2010 Citizens Bank Savings Account #6140180783 - 1,361.28 opened 10/2211992; date of death balance 04/09/2010 Accrued interest on above item through date of death 0.12 05/12/2010 CNA -refund due estate 68.08 04/08/2010 Federated Capital Reserves -date of death balance 13,744.77 05112/2010 MMA -refund due estate 339.81 06/23/2010 Penn National Mutual Casualty Insurance Company - 57.00 refund due estate 08104/2010 Penn National Mutual Casualty Insurance Company - 118.00 refund due estate 05117!2010 Personal property -sold for 1,309.60 10/12/2010 Pro Equities Inc. -refund of advisory fee 142.01 04/08/2010 Social Security -final payment due estate 1,708.00 05/20/2010 Susan L. Williams -prorated real estate taxes and 778.61 trash refunded at settlement 05/11/2011 United States Treasury - 2010 income tax refund 484.00 Total Cash 04/08/2010 400.1630 Stnr•ks/Listed shares Growth Fund of America Class F -date of 11,476.66 death value 04/08/2010 567.7520 shares MMA Praxis Core Stock A -date of death value 6,807.34 04/08/2010 769.2310 shares MMA Praxis International A -date of death 7,938.46 value 04/08/2010 793.6510 shares MMA Praxis Mutual Funds Growth Index Class 7,293.65 A -date of death value Total Stocks /Listed 04/08/2010 1,812.6310 Bonds Intermediate Income Fund Class A -date of death 18,670.10 value Fiduciary Acquisition Value 40,592.95 33,516.11 3 RECEIPTS OF PRINCIPAL Continued Fiduciary Acquisition Value 04/08/2010 1,808.3560 shares PAX World High Yield Bond Fund -date of 14,195.59 death value 04!0812010 815.6610 shares Principal Investors High Yield Fund -date of 6,484.49 death value Total Bonds bl i R ^ 39,350.18 04/08/2010 va e ece or~gaaes/Notes ~ Dale L. and Carol A. Hess -mortgage dated 22,519.27 12/19/2002, recorded in the Office of the Recorder of Deeds of Lancaster County, Pennsylvania, Document ID #5143642, in the original amount of $113,333.33; interest at 4%; balance due at death 04/08/2010 Installment Purchase Agreement -decedents 121,066.67 undivided one-third interest in Installment Purchase Agreement dated January 4, 2002, for the sale of an Agricultural Conservation Easement to New Garden General Authority; principal balance $363,200 payable November 15, 2016. Henry & Edna Kreider had owned an undivided one-third interest in the real estate (see Exhibit A of attached Agreement). Upon Henry's death on November 20, 2006, his interest in the Installment Purchase Agreement vested in Edna as surviving tenant by the entireties. Interest 6.1% per annum payable May 15 and November 15. Decedent's 1/3 interest Total Mortgage /Note Receivable 143,585.94 04/08/2010 Real Estate Decedent's real estate -located at 531 Snyder 148,000.00 Avenue, Elizabethtown Borough, Lancaster County, Pennsylvania, and more fully described in a deed dated 7/18/1984 and recorded at S-89-00019. Sold to Susan L. Williams on May 20, 2010. Consideration Total Real Estate 148,000.00 Total Receipts 405,045.18 Total Receipts of Principal 405,045.18 4 GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS -PRINCIPAL 06/02/2010 1,808.3570 shares PAX World High Yield Bond Fund -1808.356 shares sold @ 7.52 Net Proceeds 13,598.84 Fiduciary Acquisition Value -14,195.59 06103!2010 1,812.6310 Intermediate Income Fund Class A -1812.631 shares sold @ 10.41 Net Proceeds 18,869.49 Fiduciary Acquisition Value -18,670.10 06103/2010 567.7520 shares MMA Praxis Core Stock A - 567.752 shares sold @ 10.95 Net Proceeds 6,216.88 Fiduciary Acquisition Value -6,807.34 06/03/2010 793,6510 shares MMA Praxis Mutual Funds Growth Index Class A - 793.651 shares sold @ 8,46 Net Proceeds 6,714.29 Fiduciary Acquisition Value -7,293.65 06/03/2010 815.6610 shares Principal Investors High Yield Fund - 815.661 shares sold @ 7.69 Net Proceeds 6,272.43 Fiduciary Acquisition Value -6,484.49 06/04/2010 400.1630 shares Growth Fund of America Class F - 400.163 shares @ 25.75 Net Proceeds 10,304.20 Fiduciary Acquisition Value -11,476.66 Gain Loss -596.75 199.39 -590.46 -579.36 -212.06 -1,172.46 5 GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS -PRINCIPAL Continued ain 06/04/2010 769.2310 shares MMA Praxis International A - 769.231 shares sold @ 8.84 Net Proceeds 6,800.00 Fiduciary Acquisition Value -7,938.46 TOTAL GAINS AND LOSSES/PRINCIPAL LESS LOSS NET GAIN OR LOSS Loss -1,138.46 199.39 -4,289.55 -4,090.16 DISBURSEMENTS CAF PRINCIPAL ~P~ts of Decedent 04/08/2010 Citizens Bank Checking Account #6100755673 - 236.57 checks outstanding at death 04/09/2010 Citizens Bank Checking Account #6100755673 -PPL 77.88 and CenturyLink bills due at death 05106!2010 Alert Pharmacy Services Inc. -bill due at death 22.47 05/06/2010 Leo Kob Co Inc -bill due at death 334.20 05/06/2010 Tax & Accounting Advisors LLC -bill due at death 215.00 05/12/2010 Chase Card Services -bill due at death 366.04 05/12/2010 Lancaster General Health - bill due at death 26.37 05/12/2010 PPL Electric Utilities -bill due at death 62.79 05/17/2010 Messiah Village -bills due at death 7,060.50 04/04/2011 PA Department of Revenue - 2010 income tax due 41.00 Total Debts of Decedent Funeral Expenses 05/12/2010 Flowers for funeral 75.00 05/12/2010 Funeral Honorariums 400.00 05/17/2010 Frank S. Miller/David T. Sekely Funeral Services Inc. - 4,244.00 funeral bill 12/17/2010 Weaver Memorials, Inc. -cost of grave marker 2,533.00 Total Funeral Expenses Administration Ex ep nses 05112/2010 Gerry and Deborah Groening -reimbursement for 3,371.50 funeral travel expenses 05/12/2010 Gibbel Kraybill i3< Hess LLP -reimbursement for 46.50 recording satisfaction piece for mortgage against estate property 05/12/2010 Leffler Energy -repairs on estate property 151.00 05/12/2010 Register of Wills -cost of probate 424.50 8,442.82 7,252.00 7 DISBURSEMENTS OF PRINCIPAL Continued 0 511 912 0 1 0 BCS Appliance, Inc. -repairs to estate property 05/20/2010 EAWA -final water paid at settlement 05/20/2010 Elizabethtown Borough -final sewer paid at settlement 05/20/2010 Prudential Homesale Services Group -commission paid at settlement 05120/2010 Prudential Homesale Services Group -broker fee 05/20/2010 Recorder of Deeds -estate's share of realty transfer tax 06/02/2010 Cumberland Law Journal -cost of advertising estate 06/02/2010 The Patriot-News Co. -cost of advertising estate 06/03/2010 David L. Kreider -reimbursement for estate property repairs and miscellaneous estate expenses 06103/2010 PPL Electric Utilities -electric bill for estate property 01106/2011 Register of Wills -filing fee for inheritance tax return 01/13/2011 Register of Wills -additional cost of probate 02/16/2011 Register of Wills -short certificate 04/04/2011 Register of Wills -short certificate 04/14/2011 Tax 8~ Accounting Advisors, LLC - 2010 income tax preparation 06115/2011 Harland Clarke -estate checkbook fee 07/07/2011 Tax & Accounting Advisors LLC -preparation of estate fiduciary income tax returns 07/08/2011 Reserve -for miscellaneous estate expenses and filing fees Total Miscellaneous Administrative Expenses Federal~State~and Local Taxes 06/0912010 Register of Wills, Agent -payment on account of inheritance tax 12/23/2010 Register of Wills, Agent -balance of inheritance tax due Total Taxes 267.02 43.56 33.60 8,880.00 195.00 1,480.00 75.00 153.60 62.84 32.43 15.00 50.00 4.00 4.00 340.00 13.06 3,100.00 50.00 9,832.50 276.28 18,792.61 10,108.78 8 DISBURSEMENTS OF PRINCIPAL Continued Commissions 07/08/2011 David L. Kreider -executor's fee 1,500.00 Total Commissions 1,500.00 Fees 07/08/2011 Gibbet Kraybill & Hess LLP -attorney fee 12,500.00 Total Fees 12, 500.00 TOTAL DISBURSEMENTS OF PRINCIPAL 58,596.21 DISTRIBUTIONS OF PRINCIPAL Brethren in Christ Foundation 01/18/2011 Cash distribution 80,637.60 06/23/2011 In kind distribution -decedent's undivided one-third 121,066.67 interest in Installment Purchase Agreement dated January 4, 2002, for the sale of an Agricultural Conservation Easement David_L. Kreider 04/15/2010 Advance distribution -112 final social security 854.00 payment due estate and paid directly to child by Social Security 01118/2011 Cash distribution 45,681.20 Deborah K. Groenina 04/15/2010 Advance distribution -1/2 final social security 854.00 payment due estate and paid directly to child by Social Security 01/18/2011 Cash distribution 45,681.20 201,704.27 46, 535.20 46,535.20 TOTAL DISTRIBUTIONS TO BENEFICIARIES 294,774.67 10 RECEIPTS OF INCOME iv' MMA Praxis Core Stock A dividend 56.72 05/03/2010 57.52 06/0212010 dividend PAX World Hiah Yield Bond Fun dividend 98.30 0510312010 100.15 06101 /2010 dividend dividend 6.76 06/03/2010 Principal Investors Fish Yield Fund 05/04/2010 dividend 45.20 06/02/2010 dividend 42.54 dividend 2'94 06/0312010 TOTAL DIVIDEND INC®ME Interest/Bank Citizens Bank Checkin~,Account #6100755673 04/09/2010 interest 05/11/2010 interest 06/09/2010 final interest Citizens Bank Estate Money Market #623166-626-7 07/30/2010 interest 08131!2010 interest 114.24 205.21 90.68 410.13 0.72 0.59 0.04 1.35 55.23 47.30 11 FtECEIPl'S OF INCOME Continued 09/30/2010 interest 35.26 10/29/2010 interest 26.95 11!3012010 interest 26.09 12/31 /2010 interest 20.34 01 /31 f 2011 interest 18.08 02/28/2011 interest 9.64 03/31/2011 interest 5.08 04/29/2011 interest 4.90 06/01/2011 final interest 4.23 253.10 Dale L and Carol A. Hess 04/08/2010 accrued interest on mortgage note 18.77 05/01/2010 April interest on mortgage 56.29 06/01/2010 May interest on mortgage note 73.81 07/02/2010 June interest on mortgage note 72.56 08/03/2010 July interest on mortgage note 71.30 09/09/2010 August interest on mortgage note 70.04 10/04/2010 September interest on mortgage note 68.78 11/03/2010 October interest on mortgage note 67.51 12/02/2010 November interest on mortgage note 66.23 12/02/2010 December interest on mortgage note 64.95 01/24/2011 January interest on mortgage note 63.67 Installment Purchase Agreement 06/03/2010 semi-annual interest payment 3,690.50 11/05/2010 semi-annual interest payment 3,690.50 05/24/2011 semi-annual interest payment 3,690.50 693.91 11,071.50 TOTAL BANK INTEREST TOTAL RECEIPTS OF INCOME 12,019.86 12,429.99 12 SCHEDULE OF DISTRIBUTION Balance available for distribution (page 2) $ 60,014.13 Prior distribution to residuary beneficiaries (page 10) 294,774.67 Total of residue $354,788.80 According to Item 111.6.1 in the will of Edna L. Kreider, the Brethren in Christ Foundation ("the Foundation") is to receive "one-half of this- residue, plus one-half of the balance of any retirement accounts and farmland easement payments passing to a beneficiary other than my estate upon my death." The farmland easement payments were payable to the estate. The share of the Foundation is calculated as follows: One-half of residue total (above) $177,394.40 One-half of the value of the retirement account (which passed equally to the children by beneficiary designation) ProEquities IRA Account #NPC033875 (date of death balance $110,341.87) 55,170.94 Total due the Foundation (residue and non-residue) $232,565.34 To the Foundation, one-half of residue and one-half value of retirement account Cash distribution on 1/18/2011 $ 80,637.60 In kind distribution of farm land easement by assignment dated 6/23/11 121,066.67 Share of balance available for distribution** 30.861.07 $232,565.34 To David L. Kreider, one-half of the remaining balance after charitable gift Cash distribution on 411512010 (112 SS) $ 854.00 Cash distribution on 111812011 45,681.20 Share of balance available for distribution 14.576.53 61,111.73 To Deborah K. Groening, one-half of the remaining balance after charitable gift Cash distribution on 411512010 (112 SS) 854.00 Cash distribution on 111812011 45,681.20 Share of balance available for distribution 14.576.53 61,111.73 Total $354,788.80 13 **Determined by adding back into the balance available for distribution ($60,014.13) the final Social Security payment due the deceased ($1,708) that the Department of Welfare paid directly to the children, and dividing the result ($61,722.13) by 2, equaling $30,861.07. SUMMARY OF DISTRIBUTIONS (RESIDUARY AND NON-PROBATE) To the Foundation: Cash distributions $111,498.67 In kind distribution 121,066.67 Total distributions to the Foundation To the children of the deceased: Cash distributions BRA distribution Total distributions to the children $122,223.46 110,341.87 14 $232,565.34 $232,565.33 In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-10-0441 Estate of Edna L. Kreider, Deceased Verification David L. Kreider, Executor under the Last Will and Testament of Edna L. Kreider, Deceased, hereby declares that he has fully discharged the duties of his office; that the foregoing Account is true and correct and fully discloses all significant transactions occurring during the accounting period; that all known claims against the Estate have been paid in full; that, to his knowledge, there are no claims now outstanding against the Estate; that all taxes presently due from the Estate have been paid; that he has received the sums of money set forth on the Schedules of Distribution; and that the grant of Letters Testamentary and the first complete advertisement thereof occurred more than four months be#ore the foregoing Account. This statement is made subject to penalties of 18 Pa. C.S.A. Section 4904 relating to unsworn falsification to authorities. Dated: 0~ ~ ~ 2 f 2~ t 1 ~~~ ~,. ~~~ . Fie c ~. l-~ :- David L. Kreider, Executor 15