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Home My WebLink About12-16-11~ - _ ~ - ~, ~ cf , r.c: r-~ ; a., rn x_v5~ -. Q, , -> o -n ~ -T ~~ ~ ~ . b ~ ~.~ ~ . •T, m COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DNISION NO. 21-10-0107 ESTATE OF CHARLES R. RANEK, DECEASED Late of Cumberland County, PA FAMILY SETTLEMENT AGREEMENT AND RELEASE OF NANCY A. LENNINGTON, EXECUTOR Date of Death: January 10, 2010 Letters Granted: February 2, 2010 First Complete Advertisement of Grant of Letters: March 20, 2010 Account stated to: December 12, 2011 John C. Oszustowicz, Esq. 104 South Hanover Street Carlisle, PA 17013 (717)243-7437 AGREEMENT TO INDEMNIFY, RECEIPT, AND RELEASE THIS AGREEMENT, by and among Nancy A. Lennington, Executor of the Estate of Charles R. Ranek, Deceased and Nancy A. Lennington. WHEREAS, Charles R. Ranek died January 10, 2010, testate, a resident of Cumberland County, Pennsylvania; and WHEREAS, the Last Will and Testament of Charles R. Ranek dated August 31, 2009 was duly probated in the Office of the Register of Wills of Cumberland County, Pennsylvania as appears of record at Number 21-10-0107 (a copy of the Will is attached hereto and marked Exhibit A); and WHEREAS, Letters Testamentary were issued to Nancy A. Lennington on February 2, 2010; and WHEREAS, said Executor has duly administered the estate according to the laws of the Commonwealth of Pennsylvania; and WHEREAS, in ITEM 3: of his Will, decedent gives, devises and bequeaths to his daughter, Nancy A. Lennington all of the rest, residue and remainder of his estate of whatsoever nature and wheresoever situate; and WHEREAS, Nancy A. Lennington has been furnished with a complete listing of the estate assets, receipts and disbursements; and WHEREAS, it is the desire of the parties to this Agreement that final distribution of this estate be accomplished without a formal accounting to the Orphans' Court Division of the Court of Common Pleas of Cumberland County, it being the desire of the parties to avoid the expense, delay and publicity of a formal accounting. NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements recited herein, the parties do agree as follows: 1. Nancy A. Lennington does hereby release and forever discharge Nancy A. Lennington, Executor, from any and all liability which she had or may have or which may from time to time arise in connection with her service as Executor of the Estate of Charles R. Ranek, Deceased, and hereby authorize and request the Orphans' Court Division to charge the same against her share of said estate, and in consideration for said distribution, hereby agree to refund any amounts so distributed which may be required to fully discharge any tax liability of the estate, debts of the decedent, or administration expenses. 2. Each party to this Agreement acknowledges that this Agreement shall be indexed and recorded in the estate proceedings and that the terms hereof shall be binding upon their respective heirs, successors, executors, administrators and assigns. This Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. DATED this r ~ day of Witness Witness Exh-1~-~- A. OF CHARLES R. RANEK I, publish and declare this all wills and codicils ITEM 1: I direct suitable and proper decease. ITEM 2: I direct Succession Tax or any that may become due property either under from my residuary ea required to pay or ITEM 3: All of and wheresoever LENNINGTON. !f my distributed to my ITEM 4: In the powers without leave LAST WILL AND TESTAMENT ~Op~l i R. RANEK, of Cumberland County, Pennsylvania, do make, s and for my last Will and Testament, hereby expressly revoking by me heretofore, and dispose of my estate as follows: payment of my just debts and funeral expenses, including a marker, as soon as conveniently can be done following my that all State and Federal Transfer Inheritance Tax, Estate Tax, fier tax, including any interest, assessments or penalties thereon, ~ payable by virtue of my death, or by virtue of the passing of any Last Will and Testament, or in any other manner, shall be paid just as if such taxes were rrry debts, and no benefiaary shall be any part thereof. rest, residue and remainder of my estate of whatsoever nature I give, devise and bequeath to my daughter, NANCY A. does not survive me, then my residuary estate shall be ASHLEY E. LENNINGTON, of my estate, rry Executor shall have the following in addition to, but not in limitation of, the powers granted by law to the Executors ofd estates, which powers shall continue after the termination of my estate until actual of the assets: A. To receive in the estate, real or personal property, to which I may be entitled at the time bf my death, which my Executor may deem for the best interest of the estate without being required to convert said assets. B. To invest and reinvest in such securities as a prudent investor of intelligence and discn~tionl would buy for herseff for investment, and not for speculation, giving due regard to the safety of the principal and the adequacy of the income. C.' To sell or buy real estate without Court order at public or private sale; to make, execute end deliver or receive good and sufficient deeds of conveyance and give or receive g{~od title therefore; to reinvest the proceeds as if they had originated in personal property; !to mortgage or encurrrber any real estate comprising part of my estate, borrowing the necessary funds from any source, including themselves; to irrrprove any property or otherwise expend principal funds for the upkeep and welfare of any properties; to release, vacate ar~d abandon the same; to grant and acquire licenses and easements with respect thereto; ~ make irrrprovemerrts to or upon the same; and in general to do all things necessary in the management of the properties as if they are the owners thereof, including the right ~o let property and to make leases for any term including beyond the temu of the trust. The purchaser shall not be required to see to the proper application of proceeds but may pay ~ same over to the Executor. D. To make distribution hereunder in cash or of property and securities in kind at fair market value at the time of such distribution and in such a manner as to be fair, equitable and just to all concerned. Distributions of property and securities are not required to be identical among the beneficiaries or the shares, and some may receive one type of property end/or security while another may receive another type of property and/or security. 2 F. ~ To exercise any election or privilege given by the federal and other tax laws, If1CIUdl11g ~IpUt IIOt limited to, the election to claim deductions for federal estate tax or for federal income tax purposes, and the election of the method of payment of pension, profit- sharing, individual retirement account, and any other similar benefits. In addition, my fiduciary, iin his sole discretion, may make or not make equitable adjustment among the beneficiaries, without the consent of the beneficiaries, for the exercise or non-exercise of any election or privileges. G. To disclaim and/or renounce any amounts to which I may be entitled from any trust or e~tate of which I am a beneficiary if my fiduciary, in such fiduciary's sole discretion, believes ~uch renunciation or disclaimer would be appropriate. IT~M 5: I nominate, constitute and appoint NANCY A. LENNINGTON, to be Executrix of this, my Last Will and Testament. If she is unable or unwilling to serve or continue ;to serve as Executrix, ASHLEY E. LENNINGTON shall serve as Executrix. No Executrix or Custodian shall be required to give bond. ITEM 6: Wherever the corrtext requires, the masculine gender shall include the feminine ~'~gender and neuter gender, and vice versa, and the singular shall inGude the plural, ar~d vice versa. I WITNESS WHEREOF, I have hereunto set my hand and seal this ~~day of 2009. ~) /, / CHARLES R. RANEK 3 Signed, algid, published, acknowledged and declared by the above-named Testator, R. RANEK, as and for his Last Will and Testament, in the presence of us, who, he presence of each other, have hereunto `_ ~ ~~aij 4 COMMO WEALTH OF PENNSYLVANIA ) SS: COUNTY OF CUMBERLAND ) I, HARLES R. RANEK, Testator, who signed the foregoing instrument, having been dul qualified according to law, acknowledge that I signed and executed the instrume as my free and voluntary act for the purposes therein contained. CHARLES R. RANEK Swom to r affirmed and adcnowl ged before me by CHARLE R. RANEK, the sr Testator, his ~J_,_, day ,,, _, ,_, :. m.:,onwealth of Pennsvlva^ Of `~ ' 2009' NOTARIAL SEAL r KIMBERLY R. LEO, Notary Public I Carlisle Bor;.ugh, County of Cumberlar. Notary P blic MY Commission Expires Oct. 10, 200' ~.._.~.~~_...4... -- _~... COMMO WEALTH OF PENNSYLVANIA ) SS: COUN OF CUMBERLAND ) the undersigned witnesses who signed the foregoing instrument, being duly qualfied ccording to law, depose and say that we were present and saw Testator sign and execute instrument as his Last Will and Testament; that he signed and executed it willingly s his free and volunrtary act for the purposes therein expressed; that each of us in his sight and hearing signed the Will as witnesses; that Testator is known to each of us; and that to the best of our knowledge and observation the Testator was at the 6me eighteen (18) years of age or older, of sound mind and under constraint or undue influence ~~~ G~ / /~l~/:f~f/~//~~ Swom to or affix to before me by of Notary and subscribed witnesses, _, 2009. ^~?r^anweaith cf ?er^•~~?~~ ::`~ NOTARIAL SEAL KIMBERLY R. LEO, Notary Public Carlisle Borough, County of Cumberland My Commissien Expires Oct. 10, 2009 5