Loading...
HomeMy WebLinkAbout12-02-11IN THE MATTER OF THE ESTATE IN THE COURT OF COMMON PLEAS OF LOTTIE S. REBOVICH, OF CUMBERLAND COUNTY, PENNSYLVANIA DECEASED ORPHANS" COURT DIVISION ._~ ~ ~"~' ~~ ~ FILE NO. 21-11-0310 -' r:~ ., - s, - _._,, ~. _. ,,. ~- a ^~-~ f-~- - ESTATE SETTLEMENT AGREEMENT ~ _.., { f - V y ,;. C~_ ! T~ t_:_ -"~ l -. '- =_ THI~~REEMENT, made this day of ~ `' , 2011. WITNESSETH: THE CIRCUMSTANCES leading up to the execution of this Agreement are as follows: 1. LOTTIE S. REBOVICH (the "Decedent"), died testate on February 2.7, 2011, and Patricia L. Rebovich and Mary Ann Hopper were duly qualified with the Register of Wills of Cumberland County, Pennsylvania, as the Executrixes (the "Executrixes") of the Decedent's probate estate (the "Estate") 2. The Decedent's Last Will and Testament (the "Will") provides for the distribution of the Decedent's house and personal property to Patricia L. Rebovich and the remainder of her estate, equally to her children. 3. Patricia L. Rebovich, Mary Ann Hopper and Peter Rebovich are the Decedent"s children, (collectively, the "Beneficiaries"). The Beneficiaries desire the Executrixes to settle the Estate informally in order to avoid the expense and delay involved with the formal. adjudication of a First and Final Account by the Orphans" Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania (the "Court"). 4. The Beneficiaries desire to forever settle and compromise any and all claims and rights which they may possess, now or hereafter, in the Estate and to confirm their acceptance of the Informal Account (the "Account"}, attached hereto as Exhibit "A" and incorporated herein by this reference, and the Schedule of Proposed Distribution (the "Schedule"), attached hereto as Exhibit "B" and incorporated herein by this reference. The Beneficiaries desire that the distributions, as set forth on Exhibit "B," be in full satisfaction of their rights in the Estate. 5. The Beneficiaries wish to release the Executrixes and to indemnify them against any and all claims that may be asserted against the Estate or the Executrixes after the date hereof. 6. The Executrixes are willing to settle the Estate informally in consideration of the indemnifications hereinafter provided by the Beneficiaries. NOW THEREFORE, in consideration of the foregoing and intending to be legally bound, jointly and severally, the Beneficiaries, for themselves, their successors and assigns: 1. Represent and warrant that they have read and understand this Agreement and confirm that the facts set forth above are true and correct, to the best of their knowledge, information and belief. 2. Declare that they have sufficient information to make an informed waiver of their right to a formal accounting with the Court, and do hereby waive the filing and auditing of the same. 3. Acknowledge that the distributive share or amount set forth on the Schedule shall be in full satisfaction of their respective entitlements under the Will. 4. Release, remise, quitclaim and forever discharge the Executors, their heirs, personal representatives, successors and assigns, from and against all claims that they, as legatees of the Estate and in connection with the Estate, had, now have or may in the future have in connection with the Estate. 5. Agree to refund, on demand, all or any part of any aforesaid distribution, which has been determined by the Executrixes, or by the Court, or by any court of competent jurisdiction, to have been improperly made. 6. Agree to indemnify and hold harmless the Executrixes, their heirs, personal representatives, successors and assigns, from and against any and all claims, loss, liability or damage (whether or not related to the negligence of the Executrixes) that may hereafter be asserted against the Estate or against the Executrixes. 7. Agree to execute such other or additional documents as may be necessary to effectuate the agreements set forth herein. 8. Acknowledge that this Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. 9. Consent to the Court exercising personal jurisdiction ever them in any suit or action arising out of the enforcement of this Agreement. IN WITNESS WHEREOF, the Beneficiaries have read and agreed to the terms and conditions set forth in this Estate Settlement Agreement and intending to be legally bound hereby placed their hands and seals. COMMONWEALTH OF PENNSYLVANIA r ~_ PATRICIA L. EBOVICH }a' y MARS ANN HOPPER ~' PETE R OVICH SS COUNTY OF CUMBERLAND On this, the ~~ day of ~~11 `~1~C~c~t 201, before me, the undersigned officer, personally appeared PATRICIA L. REBOVICH, known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument, and acknowledged that she executed the same in the capacities and for the purposes therein contained. IN WITNESS WHEREOF, I hereunder set my hand and official seal. rr\1R COMMONWEAL H OF PENNSYLVANIA \~, \ ti N°taria15ea1 Notary Public KathBean Susan May, Notary Public f Lower AUen Twp,, Cumberland county i MY Commission Expires Qct, 7, 2014 Member. Pahnivlvgnie AsseElBtian of Nataries !~ 1 C TN COMMONWEALTH OF PENNSYLVANIA (:OUNTY OF CUMBERLAND SS On this, the ~ day of ~~'>~~~L\~~~~ 201, before me, the undersigned officer, personally appeared MARY ANN HOPPER, known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument, and acknowledged that she executed the same in the capacities and for the purposes therein contained. IN WITNESS WHEREOF, I hereunder set my hand and official seal. C(?MM~7NW~AL7`H C)F PENNSYLVANIA Notarial Seal Kathleen Susan May, Notary Public I Lower Allen TYrp,, Cumberland County MY Cbmmisslon Ex Tres pct, 7, 2014 Member, Pitnnsvlvnia Aeaeclation of NOtarles STATE OF t.~`y~S, COUNTY OF C~~~~~~~~~~ Notary Public SS On this, the ~~ day of ~ ~~.'~,~'~~_,__. 201Q, before me, the undersigned officer, personally appeared PETER REBOVICH, known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument, and acknowledged that he executed the same in the capacities and for the purposes therein contained. IN WITNESS WHEREOF, I hereunder CpMM~NWEALTH OF PENNSYLVANIA i----.___~~ Notarial Seal Kathleen Susan May, Notary Public Lower Allen 7tivp., Cumberland County M Commistaon tar Irla pct, y 2014 Member. Pennsvlvanla Assoclatlan Ntrtafles ,. set my hand and official seal. ~~~~~ ~ 1 ~ ~~__ Notary Public INFORMAL ACCOUNT ESTATE OF LOTTIE S. REBOVICH ITEM VALUE~AT DEATH ASSETS: F.eal Estate Stocks & Bonds Gash, Bank deposits & financial accounts Household goods Total DEBITS: Funeral & Administration Expenses Debts, mortgages liabilities and liens inheritance Tax Total Net Value of Estate at time of Death $ 105,000.00 $ 1,078.49 $ 5,832.60 $ 1,000.00 $ 112,911.09 $ 26,127.19 $ 7,440.60 $ 3,570.45 $ 37,138.24 $ 75,772.85 A PROPOSED DISTRIBUTION OF ASSETS OF ESTATE OF LOTTIE S. REBOVICH BENEFICIARY AMOUNT Patricia L. Rebovich $ 75,772.85