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Home My WebLink About11-23-11I ~~ ~c~y r_ -:~~~~ -. ;` __., FAMILY SETTLEMENT AGREEMENT ' ` ' .:, ~ J ,~ ~, ---- ~~ •~AL1L' j~ a~. aA1v1VU DECEASE `,,, r_., ~r~- rr AGREEMENT executed this ~~' ' ' '~' ~ ` ~~~ ~P,? ~~ day of u ~L,",b~~, 2011, by and between BARRY L. SANNO and GERALDINE E. GARNER, Co Executors of the Estate o WALTER J. SANNO, deceased, and B f ARRY L. SANNO and GERALDINE E. GARNER, individually, as heirs and beneficiaries of the Estate of WALTER J. SANNO. WHEREAS, WALTER J. SANNO, late of South Middleton Township, Cumberland County, Pennsylvania, died on March 2, 2011, having left a Last Will and Testament dated October 27, 2010. WHEREAS, on March 29, 2011, the Register of Wills in and for the County of Cumberland, Commonwealth of Pennsylvama, did constitute and appoint BARRY L. SANNO and GERALDINE E. GARNER, as Co-Executors of the Estate of WALTER J. SANNO in Estate Number 21-11-0409 upon the probating of the aforesaid Last Will and Testament, and WHEREAS, the Co-Executors have proceeded with the administration of said Estate consisting of assets in the amount of $39,247.17, less disbursements in the amount of $9,239.81 less in-kind distributions of $700.00, leaving a principal balance on hand of $29,307.36 as se' forth in the First and Final Account, a true and correct co ~ t py 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 Co-Executors shall not be required to file an Account with the Orphan's Court of Cumberland County, Pennsylvania, and that the n 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 Co-Executors' Proposed Schedule of Distribution, a true and correct co of which is attached hereto and made a part hereof as Exhibit "B". py NOW THEREFORE, in consideration of the mutual promises, covenants and agreements recited herein, the above-named heirs and beneficiaries of the Estate of WALTER J. SANNO do hereby mutually agree as follows: 1. The parties hereto, and each of them, agree and acknowledge that they have fully and carefully examined the First and Final Account of BARRY L. SANNO and GERALDINE E. GARNER, Co-Executors of the Estate of WALTER J. SANNO, 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 Agreement and Final Release 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 discharge the Estate of WALTER J. SANNO, and BARRY L. SANNO and GERALDINE E. GARNER, Co- Executors, their 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 Co-Executors, 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 Co-Executors after the execution of this Family Settlement Agreement 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 Co- Executors, and/or to the other party or persons, an _ conveyances, deeds, releases or other instruments of any kind ne essary ort conveni ne t to carry out the intention of this Family Settlement Agreement and Final Release. 6. This Family Settlement Agreement 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 Co-Executors or any other person or party upon their behalf. 7• This Family Settlement Agreement 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 Agreement and Final Release shall be governed by the laws of the Commonwealth of Pennsylvania. ~ WITNESS WHEREOF, the parties hereto have hereunto set their respective hands and seals the day and year first above written. WITNESSETH: I--=< Date BARRYE SANNO Co Executor Date GERALDINE E. GARNER Co-Executor -1 ~ ~~ Date BARB L. SANNO Individually as heir and beneficiary /'ice - ~ ,' Date GERALDINE E. GARNER ~ ~- Individually as heir and beneficiary FIRST AND FINAL ACCOUNT OF CO-EXECUTORS OF THE ESTATE OF WALTER J. SANNO Deceased Date of Death: March 2, 2011 Date of Co Executors' Appointment March 29, 2011 Accounting for the Period of March 29, 2011 to November 15, 2011 Purpose of Account: BARRYL. SANNO and GERALDINE E. GARNER Co-Executors, of the Estate of WALTER J. SANNO, offer this Account acquaint interested parties with the transactions that have occurred durin her administration of the Estate for the accounting period indicated above. g 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) $ 39,247.17 In-Kind Distribution (1994 Oldsmobile) (-) 700.00 Less Disbursements of Principal TOTAL Cash Available for Distribution ~-) 9 239 R 1 $29,307.36 Exhibit "A" RECEIPTS OF PRINCIPAL REAL ESTATE NONE STOCKS and BONDS NONE CASH and BANK ACCOUNTS 1 PNC Bank $ 3,009.48 Checking Account No. 5004992687 2. PNC Bank 34 268.17 Savings Account No. 5130317543 SUBTOTAL $37,277.65 PERSONAL PROPERTY 1. 1994 Oldsmobile Ciera Sedan 700.00 SUBTOTAL $ 700.00 ADDITIONAL RECEIPTS 1. 2. 2010 Rent Rebate. Highmark Insurance Premium R f d $ 500.00 3. e un Nationwide Auto Insurance Refund $ 131.56 $ 208 60 4. American Legion (death benefit) . $ 100 00 5. 6. . VFW Failor-Wagner Post (death benefit)$ 100.00 VFW Post 7463 (death b f ene it) 250.00 SUBTOTAL 1 290.16 TOTAL PRINCIPAL of probate Estate before adjustments $39,267.81 NONE GAINS: NONE LOSSES: Post-death check processed through PNC (-) 20.64 SUBTOTAL NON-PROBATE CONTRIBUTIONS TO ESTATE NONE Total principal of Estate with all adjustments DISBURSEMENTS OF PRINCIPAL Orrstown Bank Account No. 103008806 - 20.64 $ 39,247.17 DEBTS OF DECEDENT NONE FUNERAL EXPENSES 1 • Hoffman-Roth Funeral Home 2. Osiris Holding of PA LLC $ 5,124.01 (Memorial Plaque) 819.00 SUBTOTAL $ 5,943.01 ADMINISTRATION EXPENSES 1. Attorney's fees to Griffie & Associates $ 1,600.00 2. Probate Fees 3. Advertising -The Sentinel $ 179.50 4. Advertising -Cumberland Law Journal $ 198.16 75.00 SUBTOTAL TAXES 1. Pennsylvania Inheritance Tax $ 1,407.25 2. Less Prepayment Discount - $ 163 11 SUBTOTAL TOTAL DISBURSEMENTS OF PRINCIPAL NONE INTERIM DISBURSEMENTS TO BENEFICIARIES IN-KIND DISTRIBUTION 1. 1994 Oldsmobile Ciera Sedan $ 700.00 (to Barry L. Sanno) SUBTOTAL TOTAL DISBURSEMENT AND DISTRIBUTION CALCULATION OF FUNDS AVAILABLE Total Principal of Estate with Adjustments Total Disbursements and Distribution Net available estate assets $ 2,052.66 1 244.14 $ 9,239.81 700.00 $ 9,939.81 $ 39,247.17 ~-~ 9 939 81 $ 29,307.36 PROPOSED SCHEDULE OF DISTRIBUTION Net Cash on Hand Distributed as Follows: Barry L. Sanno ...................................:..................................$14,653.68 Geraldine E. Garner .............................................................. 14 653.68 TOTAL CASH DISBURSEMENT: $29,307.36 EXHIBIT "B"