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HomeMy WebLinkAbout03-13-12GOMM6NW€ALTH ©F PENNSYLVANIA DEPARTMENT QF tii€VENUE 6UFEAU QF INDII~IDUAL TAXE$ DEP7.280801 HAP.9158URG. PA 17928-Q607 ~'ENNSYLVANIA RECEIVED FFtCM: INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT MOS~BEY 31ETH T 10 EAST MIraM ~TREE1' CARLISLE, F'A 17013 -----•-- told ESTATE INFORMATION: SaN: t79-12-396t FILE NUMBER: 2112-0064 DECEDENT NAME: SHEAFFER WILLIAM H DATE OF PAYMENT: 03/ 13/2012 PQSTMARK DATE: 03/13/2012 COUNTY: CUMBERLANQ DATE OF DEATM: 01 / 1 3/2Q12 REMARK: RECEIPI° TQ ATTY seA~ CHECK# 14$44 REV-1182 EX(11.96) N0. CD 01599 ACN ASSESSMENT CONTROL NUMBER AMOUNT 101 ~ ~13,89~.31 ~~ TOTAL AMQUN°f PAIR: ~ 13,86.31 INITIALS: MEA RECEIVED BY: GLENRA EARNER STRASBAUGH REGISTER ()F WI~.LS REGISTER AF WILL& 1505610140 '-', REV-1500 EX (01-10) OFFICIAL USE ONLY PA Department of Revenue County Code Year File Number Bureau of Individual Taxes INHERITANCE TAX RETURN Po Box 2sosol 2 1 1 2 0 0 6 4 Harrisbur PA 17128-0601 RESIDENT DECEDENT ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death MMDDYYW Date of Birth MMDDYYYY 1 7 9 1 2 3 9 6 1 0 1 1 3 2 0 1 2 1 1 0 9 1 '~ 2 4 Decedent's Last Name Suffix Decedent's First Narne MI S H E A F F E R W I L L I A M H (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name: Spouse's Sociai Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS MI FILL IN APPROPRIATE OVALS BELOW ^X 1. Original Return ~ 2. Supplemental Return ~ 3. Remainder Return (date of death prior to 12-13-82) 4. Limited Estate ~ 4a. Future Interest Compromise (date of ~ 5. Federal Estate Tax Return Required death after 12-12-82) ~ i B ^X 6. Decedent Died Testate ~ 7. Decedent Maintained a Living Trust oxes t 8. Total Number of Safe Depos (Attach Copy of Will) (Attach Copy of Trust) 9. Litigation Proceeds Received ~ 10. Spousal Poverty Credit (date of death ~ 11. Election to tax under Sec. 9113(A) O between 12-31-91 and 1-1-95) ) (Attach Sch. CORRESPONDENT -THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED T0: _ Name Daytime Telephone Number ns S E T H T M O S E B E Y 7 1 7 ~~ 3 4~~?'''~ RF[;ISTF ' ~, S USE.~NLY r~ -7 First line of address M A R T S O N L A W O F F I C E S Second line of address 1 0 E H I G H S T City or Post Office State ZIP Code C A R L I S L E P A 17 0 1 3 Correspondent'se-mail address: SMOSEBEYaMARTSONLAW•COM i ~7 _ ~ ~ ~ c;~~ ,~ C.-3 ~ - _ i - - - ~.~ ' r- . ,.--, ^./ ~7 _ ~, --, 17 ~.- -'f3,. L I DATE FILED Under penalties of pery'ury, I declare that 1 have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. SIGM T~I~iR~OF4 PE,~2SON E(S~NSIBI~ OR FILING RETURN ~~~ IV L f~ `t ~ c... 'f ~.-, ADDRESS 19 GLEN ALPINE ROAD PHOENIX MD 21131 SIGN'Aii.1RE OF PREPAR O~~~THAN REPRESENTATIVE DATE ~.UI ;~ 3/~/~z 10 E HIGH STREET CARLISLE PA 17013 PLEASE USE ORIGINAL FORM ONLY Side 1 1505610140 1505610140 J 1505610240 REV-1500 EX Decedent's Social Security Number DecedenPsName: WILLIAM H SHEAFFER 1. 7 9 1 2 3 9 6 1 RECAPITULATION 0. 0 0 1. ........................................... Real Estate (Schedule A) 1' 2 8 9 3 9 8. 0 4 2. Stocks and Bonds (Schedule B) ...................................... 2• 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ..... 3. • 4. Mortgages and Notes Receivable (Schedule D) .......................... 4. 3 6 7 5 3. 3 9 5. Cash, Bank Deposits and Miscellaneous Personal Property (Schedule E)....... 5. 6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested ....... 6. 0. 0 0 7. Inter-vivos Transfers & Miscellaneous N n-Probate Property ~ Separate Billing Requested ....... 7. 2 4 4 9 9. 7 3 (Schedule G) g 3 5 0 6 5 1. 1 6 8. Total Gross Assets (total Lines 1 through 7) . 9. ............ Funeral Expenses and Administrative Costs (Schedule H) ... ... 9. 2 5 2 3 1 . 9 1 10. 9 9 ( ) ....... Debts of Decedent, Mart a e Liabilities, and Liens Schedule I ... 10. ... 3 5 9 . 4 6 11. ......................... Total Deductions (total Lines 9 and 10) ... ...11. 2 5 5 9 1. 3 7 12. Net Value of Estate (Line 8 minus Line 11) ...................... ... ... 12• 3 2 5 0 5 9 . 7 9 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which 0 O 0 an election to tax has not been made (Schedule J) ................ ... ... 13• • 14. Net Value Subject to Tax (Line 12 minus Line 13) ................ ... ... 14. 3 2 5 0 5 9 . 7 9 TAX CALCULATION -SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 0 0 0 15. 0. 0 0 . (a)(1.2) x.o _ 16. Amount of Line 14 taxable 3 2 5 0 5 9. 7 9 16 1 4 6 2 7. 6 9 at lineal rate X .045 . 17. Amount of Line 14 taxable 0 0 0 17 ~ • 0 ~ at sibling rate X .12 . 18. Amount of Line 14 taxable 0 0 ~ 18 ~ • 0 ~ at collateral rate X .15 . 19 1 4 6 2 7. 6 9 19. ................................................ TAX DUE ... . ... 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT ^ Side 2 L 1505610240 1505610240 J REV-1500 FJC Page 3 Decedent's Complete Address: File Number 21 12 0064 DECEDENT'S NAME WILLIAM H SHEAFFER STREET ADDRESS 770 SOUTH HANOVER STREET CITY CARLISLE STATE PA ZIP 17013 Tax Payments and Credits: ~. Tax Due (Page 2, Line 19) (1) 14,627.69 2. Credits/Payments A. Prior Payments B. Discount 731.38 Total Credits (A + E3) (2) 731.38 3. Interest (3) 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in oval on Page 2, Line 20 to request a refund. (4) 0.00 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 13,896.31 Make check payable to: REGISTER OF WILLS, AGENT PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred : ................................................................. ..... ^ ^X b. retain the right to designate who shall use the property transferred or its income; .......................... ^ ..... X c. retain a reversionary interest; or ........................................................................................... ..... ^ ^X d. receive the promise for life of either payments, benefits or care? .................................................. ..... ^ ^X 2. If death occurred after December 12,1982, did decedent transfer property within one year of death without receiving adequate consideration? .................................................................................. ..... ^ X^ 3. Did decedent own an 'intrust for' or payable-upon-death bank account or security at his or her death? ... ...... ^ X^ 4. Did decedent own an individual retirement account, annuity or other non-probate property, which contains a beneficiary designation? ............................................................................................ ...... X^ ^ IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1,1994, and before Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse i; 3 percent [72 P.S. §9116 (a) (1.1) (i)]. For dates of death on or after Jan.1,1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0 percent [72 P.S. §9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: • The tax rate imposed on the net value of transfers from a deceased child 21 years of age or younger at death to or for the use of a natural parent, an adoptive parent or a stepparent of the child is 0 percent [72 P.S. §9116(a)(1.2)]. • The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5 percent, except as noted in 72 P.S. §9116(1.2) [72 P.S. §9116(a)(1)]. • The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12 percent [72 P.S. §9116(a)(1.3)]. Asibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. REV-1503 EX + (6-98) SCHEDULE B COMMONWEALTH OF PENNSYLVANIA STOCKS & BONDS INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER WILLIAM H. SHEAFFER 21 12 0064 All property jointly-0wned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. Merrill Lynch CMA Investments, Acct. No. 8'72-49590 (see attached valuation report 289,398.04 TOTAL (Also enter on line 2, Recapitulation) ~ $ 289,398.04 (If more space is needed, insert additional sheets of the same size) REV-1508 EX + (6-98) SCHEDULE E COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, & MISC. INHERITANCE TAX RETURN PERSONAL PROPERTY RESIDENT DECEDENT ESTATE OF FILE NUMBER WILLIAM H. SHEAFFER 21 12 0064 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointty-owned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH ~. PNC Checking Account No. 51-4019-1075 (accrued interest was forfeited on closing) 16,404.06 2. IPNC Money Market Account No. 50-0385-2455 (accrued interest was forfeited on closing) I 15,062.68 3. The Sentinel -subscriber refund 10.07 4. Medicare Supplement Administration -premium refund 150.39 5. State Auto Insurance Companies -cancellation credit 104.00 6. Chapel Pointe at Carlisle, credit balance 5,022.19 TOTAL (Also enter on line 5, Recapitulation) I S 36,753.39 (If more space is needed, insert additional sheets of the same size) REV-1510 EX+ (08-09) Pennsylvania DEPARTMENT OF REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE G INTER-VIVOS TRANSFERS AND MISC. NON-PROBATE PROPERTY ESTATE OF FILE NUMBER WILLIAM H. SHEAFFER 21 12 0064 This schedule must be completed and filed if the answer to any of questions 1 through 4 on page three of the REV•1500 is yes. DESCRIPTION OF PROPERTY DATE OF DEATH °/~ OF DECD'S EXCLUSION TAXABLE ITEM NUMBER INCLUDETHENAMEOFTHETRANSFEREE,THEIRRELATIDNSHIPTDDECEDENTAND THE DATE OF TRANSFER. ATTACHACDPYDFTHEDEEDFDRREALESTATE. VALUE OF ASSET INTEREST (IFAPPIJCABLE) VALUE 1. Merrill Lynch IRA, Acct. No. 872-72160 24,499.73 100.00 24,499.73 Beneficiaries Vicki L. Steedle and Linda M. Burns, daughters See attached valuation TOTAL (Also enter on Line 7, Recapitulation) $ 24,499.73 If more space is needed, use additional sheets of paper of the same size. REV-1511 EX+ (10-09) pennsylvania DEPARTMENT OF REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULE H FUNERAL EXPENSES AND ADMINISTRATIVE COSTS ESTATE OF FILE NUMBER WILLIAM H. SHEAFFER 21 12 0064 Decedent's debts must be reported on Schedule I. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: 10,E 15.91 1. Hollinger Funeral Home & Crematory, Inc. 2. Charge Women -luncheon 200.00 B. ADMINISTRATIVE COSTS: 1. Personal Representative Commissions: Name(s) of Personal Representative(s) Street Address City State ZIP _ Year(s) Commission Paid: 2 Attorney Fees: Martson Law Offices 13,750.00 3. Family Exemption: (If decedent's address is not the same as claimants, attach explanation.) Claimant Street Address City State ZIP _ Relationship of Claimant to Decedent 4. Probate Fees: Register of Wills 385.50 5 Accountant Fees: 6. Tax Return Preparer Fees: 7. Inheritance tax return filing fee 15.00 8. Stock valuation reports 15.50 9. Additional Probate 50.00 8. Reserve for miscellaneous filing fees and expenses 500.00 TOTAL (Also enter on Line 9, Recapitulation) I $ 25,231.91 If more space is needed, use additional sheets of paper of the same size. REV-1512 EX+ (12-08) Pennsylvania DEPARTMENT OF REVENUE INHERITANCE TAX RETURN RESIDENT DECEDENT SCHEDULEI DEBTS OF DECEDENT, MORTGAGE LIABILITIES, & LIENS ESTATE OF FILE NUMBER WILLIAM H. SHEAFFER 21 12 0064 Report debts incurred by the decedent prior to death that remained unpaid at the date of death, including unreimbursed medical expenses. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. Millennium Pharmacy Systems, Inc., account payable 192.47 2. Alert Pharmacy Services, Inc., account payable 88.57 3. CenturyLink, account payable 14.20 4. I Vohra Wound Physicians, account payable I 64.22 TOTAL (Also enter on Line 10, Recapitulation) I $ 359.46 If more space is needed, insert additional sheets of the same size. REV-1513 EX+(01-10) pennsylvania SCHEDULE J DEPARTMENT OF REVENUE BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF: FILE NUMBER: WILLIAM H. SHEAFFER ~i i~ vvo~+ RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE I TAXABLE DISTRIBUTIONS [Include outright spousal distributions and transfers under Sec. 9116 (a) (1.2).] 1. Vicki L. Steedle Lineal 162,529.90 19 Glen Alpine Road Phoenix, MD 21131 2. Linda M. Burns Lineal 162,529.89 13119 Moorpark Street, Apt. 5 Sherman Oaks, CA 91423 ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18 OF REV-1500 COVER S HEET, AS APPROPRIATE. II. NON-TAXABLE DISTRIBUTIONS: A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAN~EN: 1. B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS: 1. TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. $ 0.00 If more space is needed, use additional sheets of paper of the same size. Estate Valuation Date of Death: 01/13/2012 Valuation Date: 01/13/2012 Processing Date: 02/24/2012 Shares or Par 1) 2) 3) 41 5) 6) 7) 8) 9) 10) Estate of: William H. Sheaffer Account: Merrill Lynch CMA 872-49590 Report Type: Date of Death , Number of Securities: 10 File ID: 6106.2.m1 Security Mean a.nd/or Div and Int Security Description High/Ask Low/Bid Adjustments Accruals Value 55000 GNMA PASS-THRU X SINGLE FAMILY 136216D4U6) OTC Mat: 08/15/2016 9.0008 Fact: 0.00218802 01/13/2012 102.53541 102.16041 A/B 102.347906 Int: 01/01/2012 to 01/13/2012 0.36 Int: 12/2011,, payable 01/15/2012 0.94 Prin: 12/2011, payable 01/15/2012 40000 GENERAL ELEC CAP CORP MTN BE (36962GL93) OTC DTD: 11/05/2004 Mat: 11/05/2024 4.258 01/13/2012 100.28070 Bid 100.:!60700 Int: 11/05/2011 to 01/13/2012 321.11 900 ALLIED IRISH BKS PLC (019226808) SPON ADR ORD NQB 01/13/2012 0.72000 0.69000 H/L 0.'705000 Unknown CUSIP (233ESC987) ESC DWS RREEF REAL FD I I 1; no value ) 500 SHERWZN WILLIAMS CO (824348106) NYSE 01/13/2012 95.63000 94.17000 H/L 94.!)00000 57 SUPERVALU INC (868536103) NYSE 01/13/2012 7.30000 7.00000 H/L 7.:L50000 600 COHEN & STEERS REIT & PFD INCM (19247X100) NYSE 01/13/2012 14.91000 14.64000 H/L 14.'775000 2250 EATON VANCE ENH EQTY INC FD II (278277108) NYSE 01/13/2012 10.50000 10.41000 H/L 10.155000 1000 GABELLI DIVD & INCOME TR (36242H104) NYSE O1i13/2012 15.66100 15.49000 H/L 15.!i75500 Div: 0.08 Ex: 01/12/2012 Rec: 01/17/2012 Pay: 01/24/2012 + 0.1780000 15.655500 1500 NASDAQ PREM INCM & GRW FD INC (631108105) NASDAQ 01/13/2012 13.86000 13.70000 H/L 13.'180000 Total Value: Total Accrual: Total: $157,768.71 7v-l'w1'. y4`.a89~398.~~~ .~ /3i,~L~7:.~3 Paqe 1 This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, inc. If you have questions, please contact EVP Systems at (818) 313-6300. (Revision 6.1.1) SCSI • ~, , ~ ~~ ~ 123.17 4.55 40,112.28 634.50 0.00 47,450.00 407.55 8,865.00 23,523.75 15,655.50 20,670.00 $157,446.30 $322.41 _ _ _. _.. Mar, 8. 2012 10:22AM PNC BANK ~asnr~wn~r lVlarch 8, 2012 Corrine L. Myers Marston Law Offices 10 E. High St. Carlisle, PA 17013 RE: William H Sheaffer SSN: 179-12-3961 DOD: 01-13-2012 Dear Ms. Myers: No, 3103 P, 1 In response to your request for Date of Death (DOD) balances for the customer noted above, our records show the following: Checking Account Account # 5140191075 WILLIAM I-I SHEAFFER DOD balance: $16,404.06 + 0.10 accrued interest Interest paid O1.O1-2012 thru 01-13-2012 $0.00 Y'I'D Savings Account Account # 5003852455 WILLIAM H SHEAFFER DOD balance: $15,062.68 + 0.99 accrued interest Interest paid O 1-01-2012 thru O 1-13-2012 $1.16 YTD Established: 04-01- .1963 Established: 04.2(-2002 Please note that this office provides date of death balances for deposit accounts BAs, CAs, Checking and Savings). We do not prflceas any financial transactions or provide statements. If you need assistance with any of these items, please call 1-$$$-PNC-BANK (1-888-762-2265) or stop by your local PNC Bank branch office. Sincerely, National Financial Services Center PNC Bank, N.A. Member FDIC ~C l-f • ~, 2~m s ~ Q- G2. Page 1 of 2 Date of Death: 01/13/2012 Valuation Date: 01/13/2012 Processing Date: 02/24/2012 Shares Security or Par Description 1) 600 GENERAL ELEC CAP CORP (369622519) PZNES 6.18 32 NYSE 01/13/2012 Total Value: Total Accrual: Total,: $15,549.00 U Estate Valuation Estate of: William H. Sheaffer Account: N[errill Lynch Retirement 872-72160 Report Type: Date of Death Number of Securities: 1 File ID: 6106.2.ml.retirement Mean Bind/or Div and Int Security High/Ask Low/Bid Adjustments Accruals Value 26.00000 25.83000 H/L 25.!)15000 15,549.00 $15,549.00 $0.00 ~ X950.73 Page 1 This report was produced with EstateVal, a product of Estate Valuations & Pricing Systems, Inc. If you have questions, please contact EVP Systems at (818) 313-6300. (Revision 6.4.1) RCN ~ G> _~-~, I ~ F.\FILES\DATAFILE\WILLS\6106-h.codicil s ~ CODI II, I, WILLIAM H. SHEAFFER, of South Middleton Township, Cumberland County, Pennsylvania, being of sound and disposing mind, memory and understanding, do make, publish and declare this to be a Codicil to my Last Will and Testament dated October 15, 1997. 1. Pazagraph C of Item Five of my Last Wiil and Testament is hereby deleted and replaced with the following: C. Upon the death ofmy said wife, FLETA D. SHEAFFER, my Trustees shall distribute the remaining principal and interest, in equal. shazes, unto my daughters, VICKI L. STEEDLE and LINDA M. BURNS, absolutely. 2. In all other respects, I ratify and affirm my said Last Will and Testament dated October 15, 1997. 1N WITNESS WHEREOF, I have hereunto set my hand and seal this ~~ day of 2001. William H. Sheaffer SIGNED, SEALED, PUBLISHED AND DECLARED by the above-named Testator, as and for a Codicil to his Last Will and Testament dated October 15, 1997, in the presence of us, who at his request, have hereunto subscribed our names as witnesses thereto, in the presence of the said Testat r • d of each other. Page 1 of 2 Pages e . .. COMMONWEALTH OF PENNSYLVANIA ) . SS. COUNTY OF CUMBERLAND ) We, William H. Sheaffer, INA121L 19 • ~Fnl~ /NGE~Z ,and I'Y1.me.C~A `/ ~ir~PTd x1 _ , the Testator and the witnesses, respectively, whose names aze signed to the foregoing instrument, being first duly sworn, do hereby declare to the undersigned authority that the Testator signed and executed the instrument as a Codicil to his last Will dated October 15, 1997, and that the Testator has signed willingly, and that the Testator executed it as his free and vohzntary act for the purposes therein expressed, and that each of the witnesses, in the presence and hearing of the Testator, signed the Codicil as a witness and that to the best of his/her knowledge the Testator was at that time eighteen years of age or older, of sound mind and under no constraint or. undue influence. Subscribed, sworn to and acknowledged before me by William H. Sheaffer, the Testator, and subscribed and sworn to before me by ~'IHie~. ,4• ~~~V~-C rV c~~ and //~!'1-Quo /f ~, ~m p ~tJ _, the witnesses, this ~'~day of ~ , 2001. Notary Public NOTARIAL SEAL ;~_y CORRINE L. MYERS, N~~~ b03 Ca~ible 6oro. CumbKl slon Fz ire! M 27 2 Page 2 of 2 Pages f F.~F[L~~DATAFll,E11yQ,yS\6106N. W IL I, WILLIAM H. SHEAFFER, of South Middleton Township, Cumberland County, Pennsylvania, being of sound and disposing mind and memory, do hereby make, publish and declaze this to be my Last Will and Testament, hereby revoking any and all former Wills or Codicils by me made. I~FM ONE I direct that all my just debts, funeral expenses, testamentary expenses and all inheritance taxes shall be paid to the extent possible from the assets held or passing under ITEM FNE hereof as soon as practicable after my decease and as part of the admimstration of my estate. TTF.M TWO In the event my wife, FLETA D. SHEAFFER, shall Predecease or fail to survive me by thirty (30) days, then I give such items of personalty as are itemized m a certain list attached hereto to the persons named thereon, which list is signed and dated by me at the end thereof. TTF.M~ ~F If my said wife, FLETA D. SHEAFFER, is living thirty (30) days after my death, then I give, unto m said wife, FLETA D. devise and bequeath all of my estate, both real and personal property, Y SHEAFFER, absolutely. If my said wife does not so survive me, then I give, devise and bequeath all of my estate, both real and personal properly, unto my Trustees to be held or distributed by such Trustees under ITEM FNE, C., hereof. TTFM FOU~13 In the event my said wife, FLETA D. SHEAFFER, shall disclaim all or any portion of any devise or bequest made to my said wife under the foregoing ITEM 'THREE, then the amount otherwise payable shall be held by my Trustee(s) under ITEM FNE hereof. For purposes of the Trust established under ITEM FNE hereof, my said wife shall not be deemed to have predeceased me by virtue of my said wife's exercise of the right to disclaim set forth herein. ITEM FIVE RFSIDUARY AND DISCI .ATMF.R TRUST; My Trustee(s) shall hold the assets received under ITEMS THREE and FOUR hereof, if any, W.H.S. Page 1 of 7 Pages for the following purposes: A. My Trustee(s) shall pay the net income, at least quarter-annually, to my wife, FLETA D. SHEAFFER, for life. In addition, my Trustee(s) in their sole discretion, may invade the principal of the Trust for the proper and adequate support of my said wife, FLETA D. SHEAFFER. B. My Trustee(s) shall further pay to my said wife, FLETA I). SHEAFFER, annually, such sum from the principal of the Trust as my said wife may request in writing, provided, however, that said sum may not exceed the greater of Five Thousand Dollars ($5,000.00) or five percent (5%) of the aggregate value, at the time of said request, of the principal of the Trust hereunder. C. Upon the death of my said wife, FLETA D. SHEAFFER, my Trustees shall distribute the principal and any undistributed income, as follows: 1. The sum of Fifty Thousand Dollars ($50,000.00) shall be paid to MT. ZION UNITED METHODIST CHURCH, 420 Park Drive, Calrisle, Pennsylvania; 2. The remaining principal and interest shall be distributed to my daughters, VICKI L. STEEDLE and LINDA M. BURNS, in equal shares, absolutely. ITEM SIX pc~WF.RS nF EXECUTRIX AND TRUSTEE In addition to the powers conferred by case law, by statute, and by other provisions hereof, my Executrix and Trustee and their successors, shall have the following discretionary powers applicable to all property held by them which powers shall be effective without order of any court and shall exist until final distribution: A. To retain any property of any nature received by them for whatever period they shall deem advisable; B. To invest and reinvest all or any part of said property in such stocks, bonds, common trust funds, securities, accounts, certificates of deposit (including, but not limited to, stocks, bonds, common trust funds, securities, accounts or certificates of deposit of the Trustee) or other property, real or personal, as in their discretion they shall deem proper, without regard to statutes limiting the property which a fiduciary may purchase; C. To sell, transfer, exchange or otherwise dispose of, any part of said property, for cash W.H.S. Page 2 of 7 Pages or on terms, publicly or privately, or to lease, even for a term exceeding five (5) years or the duration of any trust herein, without liability on the purchasers or lessees to see to the application of the proceeds, and to give options for these purchases without the obligation to repudiate them in favor of a higher offer; D. To execute and deliver any deeds, leases, assignments or other instruments as may be necessary to carry out the provisions of any trust hereunder; E. To borrow money, including the right to borrow money from any bank and to mortgage or pledge any asset of the estate as security; F. To assume continuance of the status of any beneficiary with regard to death, marriage, divorce, illness, incapacity and the like in the absence of information deemed reliable without liability for disbursements made on such assumption; G. To pay from the trust, or the income therefrom, all debts or claims against my estate, or any taxes or similar charges on my estate; H. To make any distribution hereunder either in kind or in money, or partially in kind and partially in money. Distribution in kind shall be made at the mazket value of the property distributed, and my Trustee(s), in their absolute discretion, may cause the share distributed to any distributee to be composed of property similar to or different from that distributed to any other distributee; I. To exercise any subscription right in connection with any security held hereunder, to consent to or participate in any recapitalization, reorganization, consalidation or merger of any corporation, company or association, the securities of which may be held hereunder, to delegate authority with respect thereto, to deposit investments under agreements, to pay assessments, and generally to exercise all rights of investors; J. To invest in endowment, insurance or annuity policies on the lives of beneficiaries of any trust hereunder; K. To continue in any partnership, joint venture, joint ownership or other business enterprise of which I am a part at the time of my death; L. To compromise claims; ~~~ W.H.S. Page 3 of 7 Pages M. To continue for whatever period of time as they shall deem necessary any ownership as a tenant in common or as a partner, in real estate or other property and to act as I could have done had I been living; N. To lend money to my estate or to any trust created hereunder or to purchase from the estate or from any trust created hereunder, at the market value thereof at the time of purchase, any securities or other property tendered to them by my estate or any trust created hereunder at any time and from time to time within a period of nine (9) months after my death; O. In the event that any amounts are payable hereunder or. under any trust created hereunder to a minor, or to a person otherwise under legal disability, or to a person not adjudicated to be an incapacitated person, but who, by reason of illness or mental or physical disability is, in the opinion of fiduciary(ies) hereunder, unable to properly administer such amounts, such amounts may be paid by the fiduciary(ies) hereunder in his, her or their sole discretion in any of the following ways as he, she or they may deem best: 1. Directly to such beneficiary; 2. To a legally appointed guardian of such beneficiary for the benefit of such beneficiary; 3. To a person having custody of such beneficiary for the benefit of such beneficiary; 4. By the fiduciary(ies) hereunder using such amounts directly to the benefit of such beneficiary. Evidence of the application or payment of an amount in such a manner shall be a full and complete discharge of the. fiduciary(ies) hereunder to the extent of such payment or application. This paragraph shall be applicable to payments of income as well as principal. P. To employ agents, attorneys and proxies and to delegate to them such power as my personal representative(s) and Trustee(s) consider desirable and to pay reasonable compensation for such services as may be rendered by such agents, attorneys and proxies; Q. To conduct an inventory of any safe deposit box necessary to the administration of my estate. W: .S. Page 4 of 7 Pages R. To do all other acts in their judgment necessary or desirable for the proper management, investment and distribution of my Estate. ITEM SEVEN PROTECTNE PROVISIONS All income or principal held for the use and benefit of any trust hereunder shall not be in any way or manner subject to anticipation, assignment, pledge, sale or transfer, nor shall any such interest, while in the possession of my Trustee(s), be liable for or subject to the debts, contracts, obligations, liabilities or torts of any beneficiary, or to attachments, executions or sequestrations under process of law. ITEM EIGHT e ~~nnrri-,r~~ OF EXECUTRIX AND TRUSTEE .u,~. I nominate, constitute and appoint my wife, FLETA D. SHEAFFER, as Executrix of my estate. In the event that my said wife shall predecease me or fail to act as Executrix, then I appoint my daughters, VICKI L. STEEDLE and LINDA M. BURNS, as Executrices of my estate. I nominate, constitute and appoint my said wife, FLETA D. SHE.AFFER, as Trustee of any trust created hereunder. In the event that my said wife shall fail or be unwilling to continue to act as Trustee, then I appoint my daughters, VICKI L. STEEDLE and LINDA M. BURNS, as Trustees of any trust created hereunder. ITEM NINE WAVER OF BOND I direct that neither my Executrix(rices) nor my Trustee(s) shall be required to file any bond in any jurisdiction to secure the faithful performance of their duties, nor shall they be required to obtain any order or approval of any court for the exercise of any power or. discretion set forth in this Will. IN WITNESS WHEREOF I have hereunto set my hand and seal this l ~~h day of V ~~ , 199 7 ~ ~~~~ ~ ~ ~ ~ ~ (SEAL) William H. Sheaffer SIGNED, SEALED, PUBLISHED AND DECLARED by the above-named Testator, as and Page 5 of 7 Pages for his Last Will and Testament, in the presence of us, who at his request, have hereunto subscribed our names as witnesses thereto, in the presence of the said Testator and of each other. ~(~ ~ h 1 chv-~ Page 6 of 7 Pages COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND . SS. I, William H. Sheaffer, Testator, whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my Last Will; that I signed it willingly; and that I signed it as my free and voluntary act for the purposes therein expressed. /_~ ~iE~ William H. Sheaffer l Sworn or affirmed to and acknowledged before me by William H. Sheaffer, the Testator, this /5~ day of ~r~~ 1997 Notarial Seal Corrine L. Myers, Notary Public ~`j~,,~ c Carlisle [3oro, Cumberland County ivly Commission Expires May 27, 1999 Notary Public COMMONWEALTH OF PENNSYLVANIA ) . SS. COUNTY OF CUMBERLAND ) the witnesses whose names are signed to the attached or foregoing instrument, being duly qualified according to law, do depose and say that we were present and saw William H. Sheaffer, the Testator, sign and execute the instrument as his Last Will; that the Testator signed willingly and that the Testator executed it as his free and voluntary act for the purposes therein expressed; that each of us, in the hearing and sight of the Testator, signed the Will as witnesses; and that to the best of our knowledge the Tiestator was at that time 18 or more years of age, of sound mind and under no constraint or undue influence. j~ `~ Address Address ~ Sworn or affirmed to and subscribed before me this ~s~day of ~i~`~~`~v199~ N t ~ i seal Notary Public o ana Corrine l_. Myers, Notary Public Carlisle E3oro, Cumberland County tsy Commission Expires May 27, 1999 Page 7 of 7 Pages