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Home My WebLink About12-01-11 (2)/o - ~/~~ ~, _ , .:~ ,~ _~: _ 'tom _,, _, . __. ;_-,~, :_ FAMILY SETTLEMENT AGREEMENT `~ .~ ~' '_ .. ~ - ___ _. IN THE ESTATE OF HELEN H. ALEXANDER, DECEA~~ ~ . _ 7N ~' , ~, ~'a c~ AGREEMENT executed this .~.f day of /~'c~ J t;.~..b{r , 2011, by and '~' between CONNIE E. ALEXANDER, Executrix of the Estate of HELEN H. ALEXANDER, deceased, and STEVEN S. ALEXANDER, SUEANN WOLF, JORDAN T. WOLF, LOGANA. WOLF, and CONNIE E. ALEXANDER, heirs and beneficiaries of the Estate of HELEN H. ALEXANDER. WHEREAS, HELEN H. ALEXANDER, late of Borough of Carlisle, Cumberland County, Pennsylvania, died on October 25, 2010, having left a Last Will and Testament dated August 31, 1999. WHEREAS, on November 9, 2010, the Register of Wills in and for the County of Cumberland, Commonwealth of Pennsylvania, did constitute and appoint CONNIE E. ALEXANDER, as Executrix of the Estate of HELEN H. ALEXANDER, in Estate Number 21- 10-1117 upon the probating of the aforesaid Last Will and Testament, and WHEREAS, the Executrix has proceeded with the administration of said Estate consisting of assets in the amount of $48,316.71, less disbursements in the amount of $22,385.46, less in-kind distributions of $1,760.00, less interim distributions of $8,000.00, leaving a principal balance on hand of $16,171.25, as set forth in the First and Final Account, a true and correct copy is attached hereto and made part hereof as Exhibit "A", and WHEREAS, the only parties in interest in said Estate are the above-named parties, and WHEREAS, said parties in interest desire that the Executrix shall not be required to file an Account with the Orphan's Court of Cumberland County, Pennsylvania, and that the net estate of the decedent shall be distributed without the necessity of filing a formal Account to avoid the expense, delay and publicity of a formal accounting, but should instead be distributed in accordance with the Executrix's Proposed Schedule of Distribution, a true and correct copy of which is attached hereto and made a part hereof as Exhibit "B". NOW THEREFORE, in consideration of the mutual promises, covenants and agreements recited herein, the above-named heirs and beneficiaries of the Estate of HELEN H. ALEXANDER do hereby mutually agree as follows: 1. The parties hereto, and each of them, agree and acknowledge that they have fully and cazefully examined the First and Final Account of CONNIE E. ALEXANDER, Executrix for the Estate ofHELENH. ALEXANDER, deceased, and Proposed Schedule of Distribution relating thereto, and find them to be true and correct, and acceptable to the parties hereto and each of them, and further that each of them has received a copy of this Family Settlement and Final Release and of said Account and Proposed Schedule of Distribution. 2. The parties hereto hereby agree that in order to avoid the expense, delay and publicity involved in the filing of a formal Account and Schedule of Distribution, no accounting to the Court is necessary and we do hereby agree that we do consent to distribution being made without the filing of an Account and Schedule of Distribution, the same to be with the same force and effect as if they had been filed and confirmed by the Orphan's Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania. 3. The parties hereby remise, release, quitclaim and forever dischazge the Estate of HELEN H. ALEXANDER, and CONNIE E. ALEXANDER, Executrix, her heirs, Executors, administrators and assigns, from all manner of acts, suits, claims, accountings, debts and demands whatsoever which we or any of us or our legal representatives or assigns may at any time hereafter have against said Executrix, estate, or assets thereof, touching or concerning the Estate of the Decedent. 4. The parties hereto covenant and agree that they will contribute their share of the Estate to satisfy all claims, debts, demands, suits or cause of action which may be successfully brought against the Estate or the Executrix after the execution of this Family Settlement and Final Release. 5. The parties hereto hereby agree that they will at all times in the future and wherever necessary, appropriate or convenient, made, execute and deliver to said Executrix, and/or to the other party or persons, any and all instruments, documents, conveyances, deeds, releases or other instruments of any kind necessary or convenient to carry out the intention of this Family Settlement and Final Release. 6. This Family Settlement and Final Release constitutes the entire understanding among the parties hereto, and each of them acknowledges that no representations or statements of any kind, written or oral, have been made to them or any of them prior hereto by the Executrix or any other person or party upon her behalf. 7. This Family Settlement and Final Release shall inure to the benefit and shall bind the parties hereto, and each of them, their heirs, Executors, administrators, successors and assigns. 8. This Family Settlement and Final Release shall be governed by the laws of the Commonwealth of Pennsylvania. 1N WITNESS WHEREOF, the parties hereto have hereunto set their respective hands and seals the day and year first above written. ITNESSETH: (~ ~/-~,s / ~ ,rte ~o ~~~~o'?~ Date NNIE E. ALEXANDER Executrix Date NNIE E. ALEXANDER Individually as heir and beneficiary /l-.~~// Date SEVENS. ALE ER Individually as heir and benefuiary ~1.a~-~ Date SUE WOLF Individually as heir and benefciary II/ZW/~~ ~ (~/ Date JO AN T. WOLF Individually as heir d beneficiary l(~Z l( Date L ANA. LF ndividually as heir and beneficiary d~ FIRST AND FINAL ACCOUNT OF CONNIE E. ALEXANDER, EXECUTRIX OF THE ESTATE OF HELEN H. ALEXANDER, Deceased Date of Death: October 25, 2010 Date of Executrix' Appointment November 9, 2010 Accounting for the Period of November 9, 2010 to November 23, 2011 Purpose of Account: CONNIE E. ALEXANDER, Executrix of the Estate of HELEN H. ALEXANDER, offers this Account to acquaint interested parties with the transactions that have occurred during her administration of the Estate for the accounting period indicated above. The Account also indicates the proposed distribution of the Estate. It is important that the Account be carefully examined. Request for additional information or questions or objections can be discussed with: Bradley L. Griffie, Esquire GRIFFIE & ASSOCIATES 200 North Hanover Street Carlisle, PA 17013 (717)243-5551 100 Lincoln Way East, Suite D Chambersburg, PA 17201 (717)267-1350 (800) 347-5552 SUMMARY OF ACCOUNT Principal -Total Assets (including non-probate assets) In-Kind Distribution (furniture) Interim Disbursements Less Disbursements of Principal TOTAL Cash Available for Distribution $ 48,316.71 (-) 1,760.00 (-) 8,000.00 (-) 22,385.46 $ 16,171.25 Exhibit "A" RECEIPTS OF PRINCIPAL REAL ESTATE NONE STOCKS and BONDS 1. AT&T Inc. Stocks $20,346.48 717.4357 shares 2. AT&T Inc. Stocks $11,400.72 402 shares 3. Frontier Communication Stocks $ 495.90 57 shares 4. Verizon Communication Stocks $ 7,764.00 240 shares 5. Qwest Communication Int'1 Stocks $ 764.01 117 shares 6. Comcast Corporation Stocks $ 2,985.27 151 shares SUBTOTAL $ 43,756.38 CASH and BANK ACCOUNTS 1. M&T Bank $ 196.60 Checking Account No. 23516313 2. County Pension owed to decedent 179.56 SUBTOTAL $ 376.16 PERSONAL PROPERTY 1. Furniture household furnishings 1 760.00 SUBTOTAL $ 1,760.00 ADDITIONAL RECEIPTS 1. County Pension -post death deposit $ 326.86 2. Civil Service Pension post death deposit 342.92 SUBTOTAL 669.78 TOTAL PRINCIPAL of probate Estate before adjustments $ 46,562.32 NON-PROBATE ASSETS ATTRIBUTABLE TO ESTATE NONE GAINS AND LOSSES ON SALES AND OTHER DISTRIBUTIONS GAINS: 1. Dividends (Qwest) $ 9.36 2. Dividends (Frontier) $ 10.69 3. Dividends (CenturyLink) $ 9.56 4. Dividends (Qwest) $ 14.03 5. Dividends (Comcast) $ 16.99 6. Dividends (AT&T) $ 25.61 7. Dividends (Frontier) $ 6.74 8. Dividends (AT&T) $ 129.86 9. Dividends (AT&T) $ 64.93 10. Dividends (AT&T) $ 172.86 11. Dividends (AT&T) $ 117.00 12. Dividends (Comcast) $ 14.27 13. Verizon Stock increased value $ 582.61 14. Comcast Stock increased value $ 335.22 15. Qwest/CenturyLink Stock $ 63.61 increased value 16. AT&T Stock increased value 193.59 SUBTOTAL $ 1,766.93 LOSSES: 1. Comcast stock decreased value (-) $ 12.54 SUBTOTAL (-) $ 12.54 NON-PROBATE CONTRIBUTIONS TO ESTATE NONE Total principal of Estate with all adjustments $ 48,316.71 DISBURSEMENTS OF PRINCIPAL Orrstown Bank Account No. 108008193 DEBTS OF DECEDENT 1. Cumberland County Retirement $ 326.86 overpayment 2. CenturyLink $ 216.04 3. PPL Electric Utilities $ 350.88 4. Cumberland Goodwill Fire & Rescue $ 56.75 5. Northland Group Inc. (GE Card) $ 188.76 6. Boscov's Credit Card $ 449.00 7. U.S. Treasury $ 342.92 (Social Security overpayment) SUBTOTAL $ 1,931.21 WITHHOLDING FROM STOCK LIQUIDATION I. Verizon Liquidation $ 538.72 2. Qwest/CenturyLink liquidation $ 5.45 3. Qwest/CenturyLink liquidation 226.28 SUBTOTAL $ 770.45 FUNERAL EXPENSES 1. Ewing Brothers 8 030.55 SUBTOTAL $ 8,030.55 ADMINISTRATION EXPENSES 1. Attorney's fees to Griffie & Associates $ 5,500.00 2. Family Exemption $ 3,500.00 3. Probate Fees $ 224.50 4. Advertising -The Sentinel $ 187.54 5. Advertising -Cumberland Law Journal $ 75.00 6. Linden Hall Antiques (appraisal) $ 35.00 7. Cost to reissue lost stock certificates $ 105.97 8. Verizon stock liquidation fees $ 21.24 9. Verizon stock liquidation fees $ 25.66 10. Comcast stock liquidation fees $ 41.14 11. Frontier stock liquidation fees $ 21.84 12. AT&T stock liquidation fees $ 108.09 13. AT&T certificated stock liquidation fees $ 566.32 14. Qwest/CenturyLink stock liquidation fees $ 17.28 SUBTOTAL TAXES 1. Pennsylvania Inheritance Tax 1 223.67 SUBTOTAL TOTAL DISBURSEMENTS OF PRINCIPAL NON-PROBATE ASSETS PREVIOUSLY DISTRIBUTED NONE INTERIM DISBURSEMENTS TO BENEFICIARIES IN-KIND DISTRIBUTION 1. Furniture household furnishings 1 760.00 SUBTOTAL INTERIM DISTRIBUTIONS 1. Logan A. Wolf $ 4,000.00 2. Jordan T. Wolf 4 000.00 SUBTOTAL TOTAL INTERIM DISBURSEMENTS TOTAL DISBURSEMENT AND DISTRIBUTION $10,979.58 1 223.67 $ 1,760.00 8 000.00 $ 22,385.46 $ 9.760.00 $ 32,145.46 CALCULATION OF FUNDS AVAILABLE Total Principal of Estate with Adjustments Total Disbursements and Distribution $ 48,316.71 ~1 32,145.46 Net available estate assets $ 16,171.25 PROPOSED SCHEDULE OF DISTRIBUTION Net Cash on Hand Distributed as Follows: Connie E. Alexander ..............................................................$ 3,426.25 ($5,186.25 less in kind distribution) Steven S. Alexander ...............................................................$ 5,186.25 Sue Ann Wolf ........................................................................$ 5,186.25 Jordan T. Wolf .......................................................................$ 1,186.25 ($5,186.25 less interim disbursement) Logan A. Wolf ....................................................................... 1 186.25 ($5,186.25 less interim disbursement) TOTAL CASH DISBURSEMENT: $ 16,171.25 Net available for distribution $ 16,171.25 Interim distributions $ 8,000.00 In kind distributions $ 1.760.00 Total Distributable Estate $ 25,931.25 EXHIBIT "B"