The URL can be used to link to this page

Home My WebLink About01-05-12ORPHANS' COURT DIVISION COURT OF COMMON PLEAS OF CUMBERLAND COUNTY Estate of Thomas Teneyck, Deceased No. 21-10-0925 ~, -, ' c~ __ _,~,- r'. -. <_ _a - .~ ..n . -= FAMILY SETTLEMENT AND FINAL RELEASE IN TAE ESTATE OF THOMAS TENEYCK KNOW ALL MEN BY THESE PRESENTS, that WHEREAS, Thomas Teneyck, late of Hampden Township, Cumberland County, Pennsylvania, deceased, died testate on August 12, 2010, having first made his Last Will and Testament, which was duly executed on June 23, 2010, and is duly recorded in the Cumberland County, Register of Wills Office at File Number 21-10-0925; WHEREAS, the said Testator, by the aforesaid Will, named Christopher Teneyck, as Executor of his Last Will and Testament; WHEREAS, the Executor has gathered the assets of the estate of the decedent and the assets consist of personal property, with a total value of $303,775.33 as set forth in Exhibit "A", which is a statement of account of said Executor., and which is attached hereto and made a part hereof, and marked as Exhibit "A"; WHEREAS, the debts and deductions, including the payment of inheritance tax on the said estate, amount to $32,669.19, as set forth on Exhibit "B" attached hereto; the Executor wilUhas: (i) withhold $1,000.00 for payment of final attorney's fees, (ii) withhold $1,000.00 for payment of fiduciary taxes and any other proper expenses or liabilities of the estate of which the Executor shall have received notice by that time, or which may otherwise be payable, (iii) advanced funds to beneficiaries and specific bequest in the amount of $190,000.00 and (iv) distribute to the beneficiaries, in the proportion of their interests and without further accounting, the balance then remaining of $79,106.14 available for distribution, as set forth in the statement of the said Executor, which is attached hereto and labeled "Recapitulation". Such distribution will also include ~,_, `- -~ .... ~ y~ any funds received by the Executor subsequent to the date to which the attached Account is stated. Should any proper liabilities of the estate, whether for taxes or otherwise, arise or come to the attention of the Executor or any of the other parties therea$er, the beneficiaries agree to be jointly and severally liable thereof; WHEREAS, in accordance with the decedent's Will, each beneficiary is to receive one third (113) of the decedent's interest in the estate; WHEREAS, the parties hereto agree that the remaining balance of the estate assets shall be distributed as set forth in the Schedule of Distribution, a copy of which is attached hereto as Exhibit "C" and made a part hereof, including distribution of ail legacies and devises as therein set forth. Without intending to limit the rights or remedies of the Executor, the parties further agree to indemnify the Executor and save him harmless against all liability, loss, and expenses, including, but not limited to, costs and counsel fees which he may incur, whether due to his negligence or otherwise, as a result of making the above described distributions without a court audit; NOW, THEREFORE, that we, Dorothy Teneyck, Christopher Teneyck and Megan Sacchetti, being all of the heirs under the Will of the said decedent, and being those persons entitled to inherit under said Will, do hereby each of us, acknowledge that we have this day received from the aforesaid Executor, in full satisfaction and payment of all sum or sums of money, legacies, bequests, and devises as aze given, devised and bequeathed to each of us respectively by the said Last Will and Testament, the amounts due us under said Will, which amounts we have received this day, and which amounts are in the amount set opposite our respective names in the table and schedule of distribution in said statement attached hereto and mazked Exhibit "C"; AND, each of us does hereby stipulate that in order to avoid the expense and time involved in the filing of a formal account and schedule of distribution, we each agree that no account 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 Orphans' Court Division of the Court of Common Pleas, Cumberland County, Pennsylvania. THEREFORE, we and each of us, do hereby remise, release, quitclaim and forever discharge the said Executor, heirs, Executor's and admuustrators and assigns, of and form the said estate and from all actions, suits, payments, accounts, reckoning, claims, and demands whatsoever for or by reason thereof, or for any other use, matter, cause, or thing whatsoever, touching upon the estate of the said decedent, and each of us do further hereby covenant and agree that should any liability come due to the estate of the said decedent after the signing of this Agreement, we and each of us do hereby covenant and agree with each other and the aforesaid Executor, that we will contribute pro-rata, our share of the estate to satisfy any and all claims, demands, suits, or causes of action which may be successfully prosecuted against the said estate or the aforesaid Executor after the signing, sealing and delivery of this Family Settlement Agreement and Final Release. This Family Settlement Agreement and Final Release may be executed in any number of counterparts and each such counterpart shall be deemed to be an original, but all such counterparts together shall constitute but one Agreement Q IN WITNESS WHEREOF we have hereunto set our hands and seals this U` day of , 2011. WITNESS: ~ ~ (SEAL) Dorothy eneyck ~~~~ SEAL ( ) .--~- - ~ - _ ~ .-, Ch ' opher Teneyck Sacchetti STATE OF 1 . SS. COUNTY OF ~~ ~er~/~n On this, the ~ ~ day of ~~~/~ , 2011, before me, a Notary Public, the undersigned officer, personally appeared Christopher Teneyck, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that he executed the same for the purpose therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. COMMONWEr1LT'H OF PENNSYLVANIA Notarial Seal Daniel lames Morton Jr., Notary Public Silver Spring Twp., Cumberland County Ny Commission Expires March 30, 2014 MEMBER,VENNSYIVANYA ASSOCTATdON OF NOTARIES STATE OF ~f'l COUNTY OF Cu/nb~/~(~~ SS. ~~ On this, the ~~ day of ~e~~m~e~' , 201 1, before me, a Notary Public, the undersigned officer, personally appeared Dorothy Teneyck, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that she executed the same for the purpose therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. COMMONWi:1.t~M ~ p~ PENNSYLVANIA - Notarlal Seal Daniel James Morton Jr., Notary public Otary Pub 1C Silver Spring Twp., Cumberland County M COmmisslon Expires March 30, 2414 MEMBER, PENNSY~VANLO ASSOCIATION OF NOTARIES STATE OF ~~ ; SS. COUNTY OF ~~~.~ ; l .... ,....~~\ On this, the ! '` ~ ~ `'~'` da of ~ ~ " r Y _~~ % ~ ~ ~ , 2011, before me, a Notary Public, the undersigned officer, personally appeared Megan Sacchetti, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that she executed the same for the purpose therein contained. IN WITNESS WHERI RECAPITULATION Decedent's Assets $303,775.33 Decedent's Liabilities/Probate Expenses - $ 32,669.19 $271,106.14 Reserve held in Estate Account for payment of remaining attorney's fees Reserve held in Estate Account for payment of fiduciary taxes AMOUNT FOR DISTRIBUTION Funds Advanced to Beneficiaries Dorothy Teneyck Christopher Teneyck Megan Sacchetti Funds Advanced to Specific Bequest Mario Sacchetti Emma Sacchetti Elli Sacchetti Lia Morrison Chloe Morrison $ 1,000.00 - $ 1.000.00 $ 269,106.14 $ 60,000.00 $ 60,000.00 $ 60,000.00 $ 2,000.00 $ 2,000.00 $ 2,000.00 $ 2,000.00 $ 2,000.00 AMOUNT AVAILABLE FOR DISTRIBUTION $ 79,106.14 Exhibit "A" ASSETS Commonwealth of Pennsylvania Deferred Compensation Program 457 Plan The Prudential Insurance Company of America Allstate Life Insurance Company Refund PA Dept. of Revenue overpayment of Inheritance Tax $190,583.11 $100,367.72 $ 12,455.68 $ 368.82 TOTAL ASSETS $303,775.33 Exhibit "B" LIABILITIESIEXPENSES Neill Funeral Home, Inc. $ 4,984.27 U.S. Airways Master Card $ 8,863.48 PSECU Visa $ 10,027.94 Inheritance Talc Payment $ 5,130.00 Reager & Adler, PC Attorney's Fees/Cost $ 3,663.50 TOTAL LIABILITIES/EXPENSES $32,669.19 Exhibit "C" SCHEDULE OF DISTRIBUTION Dorothy Teneyck- The sum of $60,000.00 was advanced on December 27, 2010. The remaining funds of $26,368.72 are to be disbursed. Christopher Teneyck - The sum of $60,000.00 was advanced on November 17, 2010. The remaining funds of $26,368.71 are to be disbursed. Megan Sacchetti - The sum of $60,000.00 was advanced on November 17, 2010. The Remaining funds of $26,368.71 are to be disbursed.