HomeMy WebLinkAbout03-0840INRE:
LEIGH E. HERMAN TRUST
· 1N THE COURT OF COMMON PLEAS OF
· CUMBERLAND COUNTY, PENNSYLVANIA
· ORPHANS COURT DIVISION
'NO.
PETITION FOR APPOINTMENT OF SUCCESSOR TRUSTEE
TO THE HONORABLE, THE JUDGES OF SAID COURT:
The Petition of Nancy L. Nagle respectfully represents that:
1. The Settlor, Leigh E. Herman, died September 3,2001 after creating a Trust Indenture
dated February 28, 2001, a copy of which is attached as Exhibit A, for the benefit of his daught~ ~.
Jean Marie Shilo.
2. Your Petitioner, who is also the daughter of the Settlor, resides at 1131 Atland Drive,
Mechanicsburg, Cumberland County, Pennsylvania and is the Trustee of the Trust.
3. The Trust consists solely of a Raymond James Financial Services, Inc. investment
portfolio of about $39,600. A copy of the most recent statement is attached as Exhibit B.
4. The Trust does not provide for a successor trustee.
5. Your Petitioner, in accordance with 20 Pa. C.S.A. {}7101, requests the appointment
of a successor trustee because she resides in Florida for almost half of the year, and has had some
health problems which may result in her incapacity and/or her not surviving her sister who is nine
years her junior.
6. Your Petitioner is the residuary beneficiary of the Trust.
7. Your Petitioner requests the appointment of a successor trustee to serve in the event
of her unavailability, incapacity or death, and nominates her daughter, Leslie J. Hoblitzell, who is
the granddaughter of the Settlor and the niece of the beneficiary, Jean Marie Shilo.
8. In addition to your Petitioner, all persons having an interest, vested or contingent, in
the Trust are: Jean Marie Shilo, 1303 Susquehanna Avenue, Sunbury, Pennsylvania 17801; and your
Petitioner's husband and children, John E. Nagle, 1131 Atland Drive, Mechanicsburg, Pennsylvania
17055; Paul G. Nagle, 28 Dewalt Drive, Mechanicsburg, Pennsylvania 17055; and Leslie J.
Hoblitzell of 244 Brandon Road, Baltimore, Maryland 21212, contingent beneficiaries, whose
consents are attached as Exhibit C.
WHEREFORE, your Petitioner respectfully requests Your Honorable Court to appoint Leslie
J. Hoblitzell as Successor Trustee of the Leigh E. Herman Trust dated February 28, 2001.
HANFT & KNIGHT, P.C.
Will~
Attorney I.D. No. 06265
19 Brookwood Avenue, Suite 106
Carlisle, PA 17013
(717) 249-5373
Attorneys for Petitioner
VERIFICATION
Nancy L. Nagle hereby verifies that the facts set forth in the foregoing Petition for
Appointment of Successor Trustee are true and correct to the best of her knowledge, information and
belief, and understands that false statements herein are made subject to the penalties of 18 Pa. C.S.
{}4904 relating to unsworn falsifications to authorities.
Nancy L. Nagle~
DATE:
TRUST INDENTURE
THIS INDENTURE, made this :~ ~(~day of f;~"~*'~ 7 ,2001, between
LEIGH E. HERMAN, of the City of Williamsport, County of Lycoming and Co~mmonwealth
of Pennsylvania, (hereinafter called the "SETTLOR"),
AND
NANCY LEE NAGLE, of 1702 Barbara Lane, Mechanicsburg, PA 17055 (hereinafter
called "TRUSTEE").
WITNESSETH THAT:
WHEREAS, SETTLOR desires to create a trust of the property hereinafter specified
for the purposes hereinafter set forth;
NOW, THEREFORE, in consideration of the premises and of the mutual covenants
herein contained, SETTLOR does hereby assign, convey, transfer and deliver to the
TRUSTEE the property set forth in the schedule annexed hereto, marked Schedule "A" and
made a part hereof.
TO HAVE AND TO HOLD the same and any other property which the TRUSTEE
may hereafter at any time hold or acquire hereunder (all of which property being hereinafter
referred to collectively as the "Trust Estate"),
IN TRUST, NEVERTHELESS, for the following uses and purposes, subject to the
terms and conditions hereinafter set forth:
FIRST: The TRUSTEE shall hold, manage and control the property comprising the
Trust Estate, collect the income therefrom, and shall disburse the net income derived
therefrom and shall distribute the corpus thereof, as follows:
(a) To pay all the net income therefrom in at least quarterly installments to
or for the use of the SETTLOR for and during the term of his natural life.
(b) Upon the death 6fthe SETTLOR, to hold the property, the subject to this
Trust, notwithstanding that such property may consist of investments not authorized by law
for trust funds, and to invest or reinvest the same, collect the income therefrom, and to pay
over to SETTLOR'S daughter, JEAN MARIE SHILO the net income from said Trust in at
least quarterly, or if possible, monthly installments, together with so much of the principal as
the TRUSTEE shall, in her sole and absolute discretion, see fit for the support, maintenance
and general welfare of SETTLOR'S daughter, for and during the term of her natural life.
(c) Upon the death of SETTLOR'S daughter, JEAN MARIE SHILO or
upon SETTLOR'S death, should JEAN MARIE predecease SETTLOR, said Trust shall
terminate absolutely, and the remainder of the principal, together with any undistributed
income, if any, shall be distributed absolutely to NANCY LEE NAGLE.
(d) In the event NANCY LEE NAGLE should predecease SETTLOR, JEAN
MARIE SHILO also having predeceased SETTLOR, then NANCY LEE NAGLE'S share
shall be divided among her (NANCY LEE'S) issue, per stirpes.
2
SECOND: The SETTLOR, or SETTLOR'S duly appointed attorney-in-fact, or any
other person, may, at any time and from time to time, add cash, securities or other property to
the corpus of the Trust Estate herein created, by deed, gift or will, with the consent of the
TRUSTEE. Any additions to the Trust Estate shall be held, administered and distributed as
an integral part of the corpus thereof in accordance with all of the terms and provisions of this
Agreement.
THIRD: The TRUSTEE shall be entitled at any time to have a judicial settlement of
her account. The TRUSTEE may at any time settle her account by agreement with the current
income beneficiary or beneficiaries, and such agreement shall bind all persons, whether or not
then in being, then, or thereafter entitled to any portion of the Trust, and shall effectually
release and discharge the TRUSTEE for the acts and proceedings so accounted for.
FOURTH: The TRUSTEE is hereby expressly authorized and empowered, in her sole
and absolute discretion:
(a) To purchase or otherwise acquire and to retain, whether originally a part
of the Trust Estate or subsequently acquired, any and all stocks, bonds, notes or other
securities, or any variety of real or personal property, including stocks or interest in investment
masts and common trust funds, as she may deem advisable, whether or not such investment
be of the character permissible for investments by fiduciaries, or be unsecured, unproductive,
under productive, over productive, or of a wasting nature. Investments need not be diversified
and may be made or retained with a view to a possible increase in value. The TRUSTEE may
at any time render liquid the Trust Estate, in whole or in part, and hold cash or readily
marketable securities of little or no yield for such period as she may deem advisable.
(b) To sell, pledge, mortgage, transfer, exchange, convert or otherwise
dispose of, or grant options with respect to, any and all property at any time forming a part of
the Trust Estate. in such manner, at such time or times, for such purposes, for such prices and
upon such terms, credits and conditioias as she may deem advisable.
(c) To borrow money for any purpose connected with the protection,
preservation or improvement of the Trust Estate, whenever in her judgrnent advisable, and as
security to mortgage or pledge any real or personal property forming a part of the Trust Estate
Upon such terms and conditions as she may deem advisable.
(d) To vote in person or by general or limited proxy with respect to any
shares of stock or other securities held by her; to consent, directly or through a committee or
other agent, to the reorganization, consolidation, merger, dissolution or liquidation of any
corporation in which the Trust may have an interest, or to the sale, lease, pledge or mortgage
of any property by or to any such corporation; and to make any payments and to take any steps
which she may deem necessary or proper to enable her to obtain the benefit of any such
transaction.
(e) To hold investments in the name of a nominee.
(0 To pay, compromise, compound, adjust, submit to arbitration, sell or
release any claims or demands of the Trust against others or of others against the Trust, on
such terms as she may deem advisable, including the acceptance of deeds of real property in
4
satisfaction of bonds and mortgages, and to make any payments in connection therewith whi,
she may deem advisable.
(g) To make distribution of the principal of the Trust Estate in kind and to
cause any share to be composed of cash, property or undivided fractional shares in property
different in kind from any other share.
(h) To execute and deliver any and all instruments in writing which she may
deem advisable to carry out any of the foregoing powers. No party to any such instrument in
writing signed by the TRUSTEE shall be bound to see to the application by the TRUSTEE of
any money or other property paid or delivered to her by such party, pursuant to the terms of
any such instrument.
(i) To hold and retain or to acquire in the Trust Estate, any stock or other
security issued by the TRUSTEE in her individual capacity or any stock or other security
which may be owned by SETTLOR at the time of the creation of this Trust, or at any time
delivered by SETTLOR to'the TRUSTEE as part of the Trust assets. The TRUSTEE is further
authorized and empowered to exercise any "fights" issued to her by reason of her ownership
of any such security; and to retain and hold in the Trust Estate any security so acquired.
(j) To place money in investment accounts or in savings accounts, or in
savings certificates or certificates of deposit in any institution; to retain such certificates of
deposit as are already in existence and from time to time, place investments in such manner.
(lc) If, on the death of any income beneficiary hereunder, there shall be
insufficient property in such beneficiary's estate to pay his or her reasonable funeral and burial
expenses (including the cost ora suitable marker at his or her grave), then the TRUSTEE shall
pay all of such charges out of the corpus of the Trust Estate fi.om which such beneficiary was
receiving the income.
FIFTH: The TRUSTEE acknowledges the receipt fi.om the SETTLOR of the property
set forth in Schedule "A" hereof, if any, and accepts the Trust hereby created upon the terms
set forth herein.
SIXTH: This instrument shall be construed and administered in accordance with the
laws of the Commonwealth of Pennsylvania. The validity of the Trust hereby created shall
be determined in accordance with the laws of' the Commonwealth of' Pennsylvania.
SEVENTH: The SETTLOR expressly reserves the right, at any time and fi.om time
to time during his life, by a notice in writing, signed and acknowledged by him in the manner
required by the Commonwealth of' Pennsylvania for the recording of' a deed of real property
and filed with the TRUSTEE on the ef.fective date thereof, subject to the payment of any
TRUSTEE'S commissions and expenses which may be payable in respect thereof:
(a) To withdraw all or any part of the principal, free and discharged of the
terms and conditions of this Agreement, and of the Trust' hereby created; and,
(b) To revoke or amend this Agreement, and to alter or terminate the Trust
hereby created, provided, however, that the duties, responsibilities and compensation of the
TRUSTEE as herein provided, shall not be altered or modified by such amendment, except
upon the written consent of the TRUSTEE.
6
EIGHTH: The principal of the Trust and the income therefrom shall be free from the
debts, liabilities and engagements of the person beneficially interested therein and shall not
be subject to assignment by said beneficiary, nor to attachment, execution or sequestration
under any legal, equitable or other process for the enforcement ofjudgrnents or claims, or any
part thereof, against said beneficiary.
NINTH: The TRUSTEE shall at least annually make and render to SETTLOR a full
and complete account of her transactions as such TRUSTEE for the term not included or
covered in any previous report.
TENTH: This Indenture shall extend to, and be binding upon, the executors,
administrators and assigns of the SETTLOR, and upon the TRUSTEE or her successors
ELEVENTH: My TRUSTEE hereinabove named shall serve without bond:.
IN WITNESS WHEREOF, the parties hereto have executed this instrument in
duplicate the day and year first above written.
'v~itness
SETTLOR:
(SEAL)
Witness
TRUSTEE:
NANCY LeE NAGL~ ~'
(SEAL)
7
COMMONWEALTH OF PENNSYLVANIA ·
'SS:
COUNTY OF LYCOMING ·
officer, personally appeared LEIGH E. ~-IERMAN, known to me (or satisfactortly 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 WHEKEOF, I have hereunto set my hand and notarial seal.
Notary Public
J NOTA~'~F_.AI,
COMMONWEALTH OF PENNSYLVANIA ·
'SS:
COUNTY OF LYCOMING
n ~
o
~ni~9~ day of ~/~kCtl~, 2001, before me, a Notary Public, the undersigned
officer, personally appeared NANCY EEE NAGLE 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 have hereunto set my hand and notarial seal.
SCHED~E "A'
NO PROPERTY WAS SET FORTH
ON THIS SCHEDULE A
EXHIBIT B
FINANCIAL SERVICES, INC.
Membe[ NASDISlPC
STATEMENT
Accou~ carr~ by ~ond Jmes & ~ciates, Inc., mem~r ~ Yo~ Stock ~an~lPC
Carillon ~r~y * St. P~ersburg, FL ~716 727-~7-1~ · www. r~n~.c0m
C~;tted to ),our rm=._rial flltur~.
Investment Po~olio Repod for July 31 to August 29, 2003
/
622
NANCY LEE NAGLE TTEE
UA DTD 05/1/97
LEXGH E HERHAN TRUST
1131ATLAND DR
HECHANZCSBURG PA 17055-5365319
I,,,111,,,111,,,,I,1,,I,1,,I,1,,,11,,11,,,I,1,,,11,,,,111,1,,I
Account ID: 80880800
PR[NARY OBJECT[VE-
RISK TOLERANCE -
TIME HORIZON -
SECONDARY OBJECTIVE -
RISK TOLERANCE -
TIME HORIZON -
Account Value
Assets Listed in Your Portfolio: Asset Allocation % Current Value
MONEY MARKET FUNOS 0.0 % 0.00
m lulAL ~SE~ 1~.0 % $39,570.32
Liabilities:
Total Liabilities $0.00
~ORTFOLZO NET VALUE: I
Income & Expense Summary
[nc~/Receipts: ~is Statenent ~is Year
INTEREST - NON-TAXABLE 0.00 0.00
D~VIDENDS - TAXABLE 0.00 256,7!
INCOME - MUTUAL FUNDS 0.00 0.00
OTHER INCOME/RECEIPTS 0.00 0.00
[ YOiAL INCOME & ~CEI~S
~o.oo
Expenses:
Taxes w~thheld 0.00 0.00
Total Expense $0.00 $0.00
Net Income/Receipts and Expenses
$0.00 $256.71
Net Cash Oeposits/(Withdrwals)
($~oo.oo) ($2,4oo.oo)
If you have any questions, or would like to update your Investment Profile information, please contact your Financial Advisor at (410) 366-1180 or
call our Client Services Department at 1-800-647-SERV (7378) Monday - Friday, 8 AM - 6 PM Eastern.
to conserve paper and preserve our environment.
YOUR PORTFOLIO NANCY LEE NAGLE TTEE ACCOUNT ID: 80880800 08/29/03
Securities in accounts custodied b~ Raymond ~ames & Associates are protected by the Securities Investor Protection
~pgra~g~ up lo $500,000, including up. to $19p,00~_~ ~h~ in th9 even~ of the f~rm's liquidation. An additional
~.~ m~on ot coverage, including up to another ~wuu,uuu tor cash awaiting investment, was purchased from Travelers
Casualty and Surety Company of America, providing a total of $100 million. This coverage does not protect against
market fluctuations.
Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. are affiliated with Raymond James Bank,
FSB, a federally chartered savings bank, member FDIC. Unless otherwise specified, products purchased from or held
at Raymond James & Associates are not insured by the FDIC, are not deposits or other obligations of Raymond James
Bank, ar~ not g~a~anteed by Raymond James Bank and are subject to investment risk, including possible loss of the
principam invested.
For information regarding FDIC, SIPC or a specific security, please contact your Financial Advisor or visit
vavw.fdic.~ov or www.sipc.org.
Any free cash or Client Interest Program (CIP) balances represent funds payable upon demand that, although @ro@erly
accounted for on our books of record, are not immediately segregated and may be used in the operation of this firm's
business as permissible under Securities and Exchange Commission regulations until such time as they are segregated.
MUTUAL FUNDS
PAGE
2
Est ~t Gain/(Loss) Annual
Amount Invested Estimated Estimated on Est Amt Est
Shares Oescription . Invested per Share Price Value Invested & Pct I~:~--~
41.03 %
Total value for priced Nutual Funds
$39,570.32 $11,512.32 $408
iOEAL VALUE FOR PRICEO PORYFOLIO & PROJECTED INCOME $39,570.32 $11~512.32
The cost information provided is believed to be accurate but should not be used for tax reporting purposes. Please read the followin
conditions as they may pertain.to one or more. of your investments} cost ~nformat~on for.f~xed income Unit Investment T~usts is not a~'usted
for return of principal, therefore 9ain/loss nas not been.calculated; Mas~e~ Limited Partnership gain/loss !n~orma~ion does,not reflec(
returnin 1 of principal;, mutual .fund,. re]nvestments, of dividend or capital gain ~istributions. are. excluded from .Amount Invested , but are
c vded in .Totf! Cost Bas~s ,.D]scou~ bonds and b~nds.pu~c~ased at a premium are not ad2usted for bond d~scount accretion or bond
premium amortization; unrea~ize~ gains/~osses are no~ calculated for zero discount coupon 6onds.
FINANCIAL SERVICES, INC.
Member NASDISIPC
STATEMENT
Account carried by Raymond James & Associales, Inc., member New YoA Stock Exchange/SIPC
880 Carillon Parkway · St. Petersburg, FL 33716 727-567-1000 · www. raymondjames.com
YOUR TRANSACTIONS
NANCY LEE NAGLE TrEE
ACCOUNT ID: 80880800
INVESTNENT ACCOUNT ACTIVITY
Oate Income/ Oeposi ts/ Sells/ Cash
2003 Oescription (Expense) (#~thdrawals) (Buys) Balance
Aug 20 Systematic Withdrawal Plan 300.00 300.00
08/29/03 PAGE 3
HERTTAGE HONEY 14ARKET
Acttvit~ BalanCe
MET ~TIVIT'~/ENDING BALANCES
$o.oo ($3oo.oo) $3oo.oo $o.oo
ACTIVITY SUMMARY
. This summary is a tally o.f the above ~ctivity and may include transactions related to the prior j/ear. The Deposits/
· (Withdrawals) section captures only money transactions and does not include the delivery or receipt of securities.
Your statement is printed on both sides
to conserve paper and preserve our environment.
YOUR TRANSACTIONS
NANCY LEE NAGLE 'FREE
ACCOUNT [D: 80880800 08/29/03 PAGE 4
Raymond James & Associates, Inc. carries your account and acts as your custodian for funds and securities deposited with us
directly by you, through Raymond James Financial Services, Inc. or as a result of transactions we process for your account.
Inquiries concerning the positions, balances and transactions in your account may be directed to our Client Services
Department at 1-800-647-SERV (7378).
THANK YOU FOR YOUR BUSINESS
~'-~ End of Statement. ~-'
8088080000000000791q7587HERJqAN, LE TRUST
CONSENT
We, John E. Nagle, Paul G. Nagle, and Leslie J. Hoblitzell, do hereby consent and join in the
foregoing Petition to appoint Leslie J. Hoblitzell as Successor Trustee of the Leigh E. Herman Trust.
ma~
CONSENT
I, Jean Marie Shilo do hereby consent and join in the foregoing Petition to appoint Leslie J.
Hoblitzell as Successor Trustee of the Leigh E. Herman Trust.
Marie Shilo
IN RE:
LEIGH E. HERMAN TRUST
· IN THE COURT OF COMMON PLEAS OF
· CUMBERLAND COUNTY, PENNSYLVANIA
· ORPHANS COURT DIVISION
__ ORDER OF COURT
AND NOW, this day of October, 2003, upon consideration of the Petition for
Appointment of a Successor Trustee and the Consents attached thereto,
It is hereby ordered that Leslie J. Hoblitzell is appointed as Successor Trustee of the Leigh
E. Herman Trust dated February 28, 2001·
By the Court,