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HomeMy WebLinkAbout12-19-11IN THE ORPHANS' COURT DIVISION OF THE COURT OF COMMON PLEAS OF ~_ CUMBERLAND COUNTY, PENNSYLVANIA '~-'? _, , -, ESTATE OF JOYCE M. DAVISON, DECEASEDr~ ~~ T, No. 2010-00086 `~ ` ``' `' " --, _ _ . _ . ,., - APPROVAL OF ACCOUNT, WAIVER, RECEIPT, ,, ~; .. RELEASE, AND AGREEMENT OF INDEMNITY E The circumstances leading up to the execution of this instrument are as follows: 1. Joyce M. Davison died on January 9, 2010, leaving a Will dated October 10, 1994, naming Mark C. Davison as Executor. 2. Letters Testamentary were granted to Mark C. Davison by the Register of Wills of Cumberland County on January 26, 2010. 3. It is the desire of the Joyce M. Davison heirs that the Estate be distributed without the formality of a court proceeding in order to save the expense, publicity, and delay incident to such court proceeding, and the Executor is willing to make such distribution upon the execution of this instrument. 4. An account of the administration of the Estate of Joyce M. Davison has been prepared by the Executor. A copy is attached hereto as Exhibit A. 5. In consideration of the foregoing, each of the undersigned hereby: A. Represents and warrants that he has read and understands this instrument and that the facts set forth above are true and correct to the best of his knowledge, information and belief; B. Declares that he has examined the attached account of the administration of the Estate and the attached schedule of distribution; that he finds them to be true and correct in -1- -,~ `; - ~__ ~~. i~ all particulars; that he accepts and approves them as if they had been duly filed, audited, adjudicated and confirmed absolutely by the Orphans' Court Division of the Court of Common Pleas of Cumberland County, and as if the amounts shown as distributable had been duly awarded to him; C. Waives the filing and auditing of the account of the administration of the Estate in the Orphans' Court Division of the Court of Common Pleas of Cumberland County, and agrees that the Orphans' Court Division of the Court of Common Pleas of Cumberland County may by its decree confirm the account and approve the schedule of distribution; D. Requests the Executor to make distribution of the principal and income in accordance with the schedule of distribution, and effective upon delivery to him of the amounts shown as respectively distributable, acknowledges receipt of such property; E. Agrees to refund to the Executor any amount which may at any time be determined to have been an erroneous distribution to him, regardless of the cause of such erroneous distribution, even if attributable to negligence, and agrees that any period for the limitation of actions for the collection of any erroneous distribution shall commence only at such time as the Executor shall have obtained actual knowledge of such erroneous distribution and that in no event shall the period for collection of any erroneous distribution be less than two years after the actual discovery thereof; F. Absolutely and irrevocably remises, releases, quitclaims and forever discharges Mark C. Davison, individually and in his capacity as Executor, from any and all actions, suits, payments, accounts, reckonings, liabilities, claims and demands relating in any way to the administration of the Joyce M. Davison Estate; -2- G. Agrees to indemnify and hold harmless, to the extent of the funds received by him hereunder, Mark C. Davison, individually and in his capacity as Executor, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which he may suffer or to which he may be subjected by reason of his administration of the Estate, the settlement of his Executor's account and the distribution of the assets of the Estate without having the formal approval of the Orphans' Court Division of the Court of Common Pleas of Cumberland County, including, but not limited to, any liability for any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with interest and costs incidental thereto, relating in any way to the Estate; and H. Declares it to be his intention that this instrument, consisting of three pages, shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him and upon his heirs, executors, administrators and assigns; I. This agreement may be executed in counterparts. Executed on: ~. ~~ ~ t ~~.--~ C ` DATE (Seal) MARK C. DAMSON DATE (Seal) PAUL M. DAMSON DATE (Seal) PETER E. DAMSON DATE (Seal) JOHN W. DAMSON DATE (Seal) JAMES A. DAMSON -3- thereto, relating in any way to the Estate; and H. Declares it to be his intention that this instrument, consisting of three pages, sha!! be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him and upon his heirs, executors, administrators and assigns; I. This agreement may be executed in counterparts. Executed on: DATE I7 ~~~ ~ ~l DATE DATE DATE (Seal) MARK C. DAVfSON fi ~ , ~~-~ (Seal} PAUL M. DAVfSON (Seal) PETER E. DAVlSON JOHN W. DAMSON eai) DATE JAMES A. DAMSON (Seal) ,4r- him hereunder, Mark C. Davison, individually and in his capacity as Executor, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which he may suffer or to which he may be subjected by reason of his administration of the Estate, the settlement of his Executor's account and the distribution of the assets of the Estate without having the formal approval of the Orphans' Court Division of the Court of Common Pleas of Cumberland County, including, but not limited to, any liability for any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with interest and costs incidental thereto, relating in any way to the Estate; and H. Declares it to be his intention that this instrument, consisting of three pages, shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him and upon his heirs, executors, administrators and assigns; I. This agreement may be executed in counterparts. Executed on: DATE MARK C. DAMSON (Seal) DATE _Ix~~i ~~ ~u ~1 DATE DATE DATE PAUL M DAMSON (Seal) ~~ (Seal) TER E. DAMSON JOHN W. DAMSON (Seal) JAMES A. DAMSON ---_~Sealj -3- G. Agrees to indemnify and hold harmless, to the extent of the funds received by h' im hereunder, Mark C any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which he may suffer or to which he may be subjected by reason of his administration of the Estate, the settlement of his Executor's account and the distribution of the assets of the Estate without having the formal approval of the Orphans' Court Division of the Court of Common Pleas of Cumberland County, including, but not limited to, any liability for any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with interest and costs incidental thereto, relating in any way to the Estate; and H. Declares it to be his intention that this instrument, consisting of three pages, shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him and upon his heirs, executors, administrators and assigns; I. This agreement may be executed in counterparts. Executed on: DATE DATE DATE DATE ~}' ~~... 20 ~/ DA E Davison, individually and in his capacity as Executor, from and against MARK C. DAMSON PAUL M. DAMSON (Seal) PETER E. DAMSON (Seal) JOHN W. DAMSON (Seal) JAMES . DAVISO (Seal) -3- him hereunder, Mark C Davison, individually and in his capacity as Executor, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which he may suffer or to which he may be subjected by reason of his administration of the Estate, the settlement of his Executor's account and the distribution of the assets of the Estate without having the formal approval of the Orphans' Court Division of the Court of Common Pleas of Cumberland County, including, but not limited to, any liability for any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with interest and costs incidental thereto, relating in any way to the Estate; and H. Declares it to be his intention that this instrument, consisting of three pages, shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him and upon his heirs, executors, administrators and assigns; I. This agreement may be executed in counterparts. Executed on: DATE DATE DATE l~. /~i DATE DATE G. Agrees to indemnify and hold harmless, to the extent of the funds received by MARK C. DAMSON (Seal) PAUL M. DAMSON (Seal) PETER E. DAMSON ~~~a~ (Seal,` JOHN W. DAMSON h~ Pe~-~ ~ - ~i~~ ~~ Pv~ ~ JAMES A. DAMSON (Seal) ,~~~ h Vl l~!. ~~~ ~ -3- ~~7RABI.E GENFR A T . gp~R OF ATTORNEY NEB YpRK STAT[JTpRY SH`pRT FORIVI TI3E ~~ERS Y~G~T C-I3A~N~' ~ELp~1 Cp~~;~N~3E '~'Q lt~E EFFECT sl~~~r~,l~ Y(~IJ BEe(~It~IE DISABLED tJR IlveOlt~PETENT Cauti€~n; This is an imtpertant document. It gives the person why y~ designate L~clleide ~ ~ hers to handle yam' property during your lifetime, which may powers to mertgag,~e, sell, or Otherwise dispose of aay real or perst~nal property without advance notice to you or approval by you. Then powers wdl continue to exist even after you become disal-led tx- ~~petent These powers are explained mere folly IEt New York General pbhgatious I.aw, Article 5, Title I5, Sections 5-I5Q2A throug~€ 5-~, w~eh egP~ly permit the use of any other or different form of power of attorney. This doe€untent rifles not authorize anyone ~ make medical or ether health ea:--e decisions. You may execute a health Bare prosy to do this. If there is a€~ything abet this form that you d$ nttt understanEd I er tot s y~ shc~ald ask a awy ezplaiEt i€ to you. TEAS is intend~l tc> canstit~xte~ a DURABLE pENERAL P©WER OF A'ITC3RN~Y pursuant to Article 5, Tale I S cif the New York General Obligaticros Law: ~ SFS 3 ~°hn ~aV~s~ ~3 Kl~k~~ ~~ f i~-rs~~~J ~ y ~ . ............................................ .... ~o hereb a ................................ Y FFoxrit: Y ~~ C»sert your rrrnne and ess ......... ~} ~fone person is to be ointeda a .........• ..................... ...< aPP g n~ znsertthe name andaridress ofyourager~above} .......... ~~Liam. or. moxe Persons are to be appointed agents bJ'Y~4 inssert their •. • • ................................. name. and. addt'esses. above} my attc~mey(s}~-ire fact T'd AC'F {Tf more than one agent is designated, CHOOSE ONE of fhe foTiowing Lt~o choices byPutfingYot~' initiats in CJNE of the hTank spaces to the deft of yon choice:} } Each agent may S~'ARATELY act. } All agents must acf TC~'I~. ~f neither blank space is initialed, tTis agents will be required to act ~'QGE~IEIt} IIV R2Y NAME, IsLACE AID STEM}, in any ~vay which I myself ovoid do, if I were peFSC~z~aIly preseIIt•, with respect to the followi~ag matters as each cif them is clefi3aed. in Title l5 of Article 5 of the New York General 4bligativz~s Law tv the extent fhat ~ am permitted Iry law tv act through atr agent: DIRECTI(DNS: initial in the blank space to the left of your choice any one crr ire of the following lettered subdivisions as to which you ~VV'ANT to give your agent authorriy. If the blagk space to the left of any particular lettered subdivision is 1~FQT InEitialed,lV(T 2 Ai7~`Hf}R.I'I'I"4~,I, BE GRAN'FE~3 for matters That are ~el~ded ig that sul~ivision. Aiterua#ivety, the Teller eerrespa~uding to each pc~w~rer yea wish to grout may be written ~- typed ors the bt~k Iit~e fn s~ihdivisio~ K{(~)' ; a~~ yt~~ may them brut' yam' ~i4ia~s iu tote i~tk space to the left of s~hdi~siou K{Q}" iu c~rcter to grant each e€ the gEtwers so h~dieated.} [ ) (A} real estate transactions; Y E ~) (l~} el~atteI anrI gaflds tcansaetians- I ) 4C) bond, share and aor~orl£ty transactiaxrs; ~) {~} barb transactions; [ ~) {I~} records, reports and statements; ~) {I,} retirehent benefit trar~sactians; [ ) {M} mal~ing ~ ~ my spouse, ehildcetx and mare remote descenda~rts, and parents, not to eYCeed in the aggregate $I0,000 to each of such perscros in any year; [ ) {E} business operating tmusactions; [ X) {F} insurance tr~saetians; [ ~() (Cr} estate transactions.; [ ) {Ii} claims ~d litigation; I ) {~} perscsnat relationships and aff.,airs; I ) {l) henefrts frcxn military service; ~ ) ~} ~ .hatters; [ ) (a} all other matters; [ ) {~'}full and unqualified anthonty to my attorney{s}rn-fact to delegate auy or all of the foregoing powers to any person or persons wham xny attazriey{s}-In-feet shall select; C ) (Q} each of the above matters identified by the fallowing letters: .............................................................. ............................................................... {Special provisions arnd limitations may be ir~luded in the statutory short, form durable otiver o ail requirements of'S-ISfT~ of the 1Yew Pork General Obdigatioizs Lcm,}may only they coyrform to the ............................................................... 'Phis Durable power of Atto~ey shall not be alyeeted by my subsequent disability ar incompetence If every agent Weaned above is unable, or unwilling to serve, I ' ............................................ ~-- ,,.,-~~ - app int {insert rrr~rse and cr~'ress ofsuccessor} • ................................... to my agent far all purposes hereunder Te induce a$y third party to act hereunder, ~ hereby agree that any third party reeeiving a duly executed copy or facsimu~e of this ittstrtameatt map act hereugder, erect that revoeatiora or terttt~ation hereof shall he iae€fective as to such Third party ups aid anti[ ac#uai getiee or iurewiedge ~ such revoeatiorr or termaga shaII have been received by such third executers, Iegai representatives and assi p~~ agd t for rrrysel€ and for rrry heirs, party from aucf ~, hereby agree is ia~ fy and hold harness any such third ~ ~y agd ~ claims that may arise against such third party by reason ofsueh third FAY having rem ~ the Bisia~rrs c-f this ir~strrrr~re~ 'his IIurabie ~eueral PErvPer• ofAtta~nrtey rntay be revoked [ty me at arty time. Irr Witness Vi'hereof, i have herenttta signed my name this ~. s day o~~~~ 20Q..?.~c~o {YQU SIGN ~€ERE:} -~ ~ $'ignature ofPrineipal} A.C~£Nf ~YV~EllG14FE~'j' (for use within the State a, f'1Veyy YarkJ STATE (}F NEQV YQRK, CQ1rINTy E1F D ~T/~~2i ~ ss.: on the ~ is ~' far said State, pe~'sonally oapg~ed ~ ~ y~2'Ofv before me, the undersigned, aNotary Public in and ~o ~- h L rU ,~, cJ~,~ l~ersonall k~no to me ar proved to me on the basis of saris€actoty evidence to be the individual{ whose ~~1 rs (a~subscribed to the wif3rin mstr~exrt and aeknowled~ed same ~ ~h~~it3'and that by his,~~ . b to ~ that h~~~executed the the person behalfafwhieh the individual act srg~re{~on the instrument, the individual{a'~or ed, executed the instrutnerrt ~~~ ,, Notary Public: State of New York l'fY Ce~~~s~a-~ ~cfo ~ rCS' t (2S~t~ ~~Q~~~~ ffor use outside the State oflYew York} STATE ~F CQl1NTI' OF ss.: 4n fibs day of ig the Y~ ,before Fns, the undersi far said State, personally ~~ gned, a Notary Public ~ and P~~ally known. to me or proved to me on the basis of satisfactory evidence to be the individual{s} whose name{s} is (are} snbs~~ to fife within inst~tunent ar~d acknowledged to nxe mat he~she/they executed the same ~ hislher/their capacity(ies}, and that by leis/her/theiF sigcat~re{s} on the inst~en the l~~ upon behalf of which the individuals} acted, exc~uted the ' t, the individual{s}, or such appearance before the undersigned in ni`'~~ and that such individual made {Insert city or political subdivision and state or county or other place aeknoyvledgmenttoken). (Signature cntd o, fjzce of indtvrduaZ taking acltnowledgment} LI200p BEFORE THE REGISTER OF WILLS, CUMBERLAND COUNTY, PENNSYLVANIA No. 2010-00086 FIRST AND FINAL ACCOUNT OF MARK C. DAVISON, Executor For ESTATE OF JOYCE M. DAVISON, Deceased Date of Death: January 9, 2010 Date of Administrator's Appointment: Accounting for the Period: January 26, 2010 January 9, 2010 to November 28, 2011 PURPOSE OF ACCOUNT: Mark C. Davison, Executor, offers this Account to acquaint interested parties with the transactions that have occurred during his administration. The Account also indicates the proposed distribution of the Estate. It is important that the Account be carefully examined. Requests for additional information or questions or objections can be discussed with: Debra K 24 N. 32nd Street Wallet, Esquire Camp Hill, PA 17011 I.D. #23989 (717) 737-1300 EXHIBIT A SUMMARY OF ACCOUNT Fiduciary Current Acquisition Page Value Value Proposed Distribution to Beneficiaries g $188,984.10 PRINCIPAL Receipts 3 Net Loss on Sales or Other $509,659.77 Dispositions 4 3,742.97 Less Disbursements Debts of Decedent 5 Funeral Expenses $1, 734.90 5 Administration Expenses 6 10,549.82 Federal and State Taxes 6 21,103.23 Fees and Commissions 6 20,149.44 12,SOO.pp $66- 037.38 Principal Balance on Hand $439, 879.41 INCOME Receipts 7 Income Balance on Hand $298.69 298.69 Balance Before Distributions Distributions to Beneficiaries 8 $440,178.10 251,- 194.Op Combined Balance on Hand $188,984.10 RECEIPTS OF PRINCIPAL Assets Listed in Inventory: (Value as of Date of Death) Cash and Bank Deposits: Citizens Bank Acct. #610076-957-7 $26, 858.83 American Express traveler's check 100.00 USAA Acct. #00063-1929-7 71,164.72 Sovereign Bank Acct. #571139892 8,191.89 Citizens Bank Acct. #622 103 100-5 2,425.68 Cash in possession of Decedent 210.89 AAFMAA Annuity certificate #24480 18,742.01 Tangible Personal Property; 2006 Buick Lacrosse $10,000.00 Home furnishings 16,194.00 Stocks: Morgan Stanley Smith Barney Acct. #724-73347-12 364 $134,782.96 Morgan Stanley Smith Barney Acct. #724-01220-15 364 110.26 U.S. Savings Bonds 4,623.92 $127,694.02 $26,194.00 $139,517.14 2 Realty: 702 Drexel Hills Blvd. New Cumberland, PA Refunds: USAA Dividend (auto insurance) $57.02 Genworth Life Insurance refund 434.43 Cumberland County VA benefit 100.00 Superior Plus Energy Services refund 199.10 Armed Forces Insurance homeowner's 379.36 Verizon Wireless refund 1.11 TOTAL ASSETS LISTED IN INVENTORY: Receipts Subsequent to Inventory (Valued When Received) AAFMAA Annuity $9,600.94 Receipt from Estate of E. Ross Davison 420.84 Servicemaster refund 212.00 American Water refund 33.10 TOTAL RECEIPTS OF PRINCIPAL: $204,816.71 $1,171.02 $499,392.89 $10,266.88 $509,659.77 3 GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS Gain on value of AAFMAA Annuities from Date of Death until deposit into Estate checking account on 11 /03/ 10 $1,118.36 Real estate at 702 Drexel Hills Blvd., New Cumberland, PA Fiduciary Acquisition $204, 816.71 Net Proceeds 205,_ Net Gain $400.00 Morgan Stanley Smith Barney Acct. #724-73347-12 364 Fiduciary Acquisition $134,782.96 Net Proceeds 129,631 89 Net Loss $5,261.33 TOTAL LOSS ON SALES OR OTHER DISPOSITIONS: ($3, 742.97) DISBURSEMENTS OF PRINCIPAL Debts of Decedent: LL Bean VISA $295 68 Cavalier Business (internet) . 86 40 Comcast Cable . 305 04 Verizon (wireless) . 119 62 Montour Oil Service Co. . 334 88 USAA Mastercard . 593.28 Funeral Expenses: Parthemore Funeral Home $9, 999.82 Funeral dinner at the Sheraton 550.00 Administration Expenses: Probate Fees $514 50 Attorney's postage, photocopies, etc. . 30 00 Executor mileage (2 round trips from . Canandaigua, NY to New Cumberland, PA) 468 00 Checks for Citizens Bank Estate . Checking Acct. #6221032354 6 44 Account fees for Citizens Bank Estat . e Checking Acct. #6221032354 02/28/ 10 40.80 03/31/10 32.89 04/30/10 14.07 05/28/10 10.38 06/30/10 11.22 07/30/ 10 10.95 08/31/10 10.00 09/30/10 10.00 10/29/10 12.35 11/03/10 13.00 11/30/10 10.00 12/31/10 10.85 01/31/11 10.00 $1,734.90 $10, 549.82 5 02/28/ 11 10.00 03/31/11 53 89 04/19/11 . 10 19 05/31/11 . 10 19 06/30/ 11 . 10 00 07/29/ 11 PA Power & Light 3/11/10 . 10.00 PA Power & Light 6/18/10 199.10 PA Power & Light 7/ 1 / 10 86.38 Pennsylvania American Water 4/13/10 10.65 202 60 Pennsylvania American Water 6/18/10 . 65 43 Pennsylvania American Water 7/01 / 10 . 26 20 Jim Yeager (painting) 4/ 16/ 10 . 2 955 00 Verizon 4/ 19/ 10 , . 102 54 John Davison (dumpster rental & . moving expenses) 5/8/10 Kevin Martin (home repairs) 5/12/10 2,015.00 Kevin Martin (home repairs) 6/2/ 10 660.00 Tom Freedman (lawn mowing) 6/23/10 655.61 Allied Exteriors, Inc. (gutter repair) 100.00 50 00 6/23/10 . Otisco Lake Paradise, LLC, 04/ 17/ 10 6, 200.00 05/13/11 Reserve for Filing of Account 6,430.00 25.00 Federal and State Taxes: PA Inheritance Tax 4/9/ 10 $16, 000.00 PA Inheritance Tax 10/7/ 10 4,142.53 2010 PA fiduciary taxes 4/18/11 6.91 Fees and Commissions: Debra K. Wallet, Esq.-Attorney's fees $7,500.00 Mark C. Davison Executor Fee 5,000.00 $21,103.23 $20,149.44 $12,500.00 6 RECEIPTS OF INCOME Interest Estate Checking Account Citizens Bank Acct. #622108-235-4 January -December, 2010 $209.54 January -July, 2011 89.15 TOTAL RECEIPTS OF INCOME: $298.69 DISTRIBUTION TO BENEFICIARIES TO: Paul M. Davison 12 Kent Street Newburyport, MA 01950 03/10 Home furnishings $3,238.80 03/06/ 10 Cash distribution $20, 000.00 03/14/11 Cash distribution 25,000.00 48,238.80 Mark C. Davison 116 Park Avenue Canandaigua, NY 14424 03/10 Home furnishings $3 238 80 03/06/10 Cash distribution , . 20 000 00 03/16/11 Cash distribution , . 10 000 00 03/17/11 Cash distribution , . 7 500 00 03/18/11 Cash distribution , . 7,5_ 48,238.80 John W. Davison c/o Peter E. Davison 28 Kitty Hawk Drive Pittsford, NY 14534 03/10 Home furnishings $3 238 80 03/06/10 Cash distribution 20,000.00 03/16/11 Cash distribution 25,000.00 48,238.80 James A. Davison c/o Mark C. Davison 116 Park Avenue Canandaigua, NY 14424 03/10 Home furnishings $3,238.80 03/06/10 Cash distribution 20,000.00 03/14/11 Cash distribution 25- 0_ 48,238.80 Peter E. Davison 28 Kitty Hawk Drive Pittsford, NY 14534 03/10 Home furnishings $3 238 80 03/10 2006 Buick Lacrosse . 10 000 00 03/06/10 Cash distribution , . 20 000 00 03/16/11 Cash distribution , . 25,000.00 58,238.80 TOTAL DISTRIBUTION TO BENEFICIARIES: $251,194.00 8 PROPOSED DISTRIBUTION TO BENEFICIARIES TO: Paul M. Davison 12 Kent Street $39, 796.82 Newburyport, MA 01950 Mark C. Davison 116 Park Avenue 39,796.82 Canandaigua, NY 14424 John W. Davison c/o Peter E. Davison 39,796.82 28 Kitty Hawk Drive Pittsford, NY 14534 James A. Davison c/o Mark C. Davison 39,796.82 116 Park Avenue Canandaigua, NY 14424 Peter E. Davison 28 Kitty Hawk Drive 29,796.82 Pittsford, NY 14534 TOTAL PROPOSED DISTRIBUTION TO BENEFICIARIES: $188,984.10 9