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HomeMy WebLinkAbout03-15-12Pa. O.C. Rule 6.12 STATUS REPORT REGISTER OF WILLS OF Clk- hl ~ E12 L-f~-~.J~ COUNTY, PENNSYLVANIA Name of Decedent: ,~ -- Date of Death: 3~~ ~'l ~ i Q File Number: 1i~ ~~-- Q 61.~U~ Pursuant to Pa. O.C. Rule 6.12, I report the following with respect to completion of the administration of the above-captioned estate: 1. State whether administration of the estate is complete :.................... [/~Yes ~ Nc, 2. If the answer is No, state when the personal representative reasonably believes that the administration will be complete: 3. If the answer to No. 1 is YES, state the following: a. Did the personal representative file a final account with the Court? ....... ^Yes L~ No b. The separate Orphans' Court No. (if any) for the personal representative's account is: c. Did the personal representative state an account informally to the parties in interest? ............................... L/JYes ^No d. Copies of receipts, releases, joinders and approvals of formal or informal accounts may be iileu ~"v'itil thy: Cier1C Of file Oi~haiiS' ~,Oii t ai'x.`.. iflay 1'i2 attaijheu t0 ih iS rct;iii. Date ~ ~ ~ ~ ~ /--~ ~ iy_ ~ ~~.- ig nture of Person Filing thrs orm ('~ C< ~ ~ ~ t ~: ~ -- `-`- - Capacity: ~rsonal Representative ^ Counsel ~v,t: ~! ; !~ _ `~ ° `- La,lc rP.VI V ~-,~ r Ktl. ~' P ~l ~ (~i~ IG, ~~ ,Q - in ~--> - Nmne of Person Fduag [lus Form LL~ `- ~ ~~~ ~= ~ _ ~ 0 ~cu ~ ~ZZ ~~'j k.1.. ~" > Address .. Telephone Form RW-l0 rev. 10.13.06 +_"i ~f~C>3AN~C ~~C~IVE~ ELMER H. POTTEIGER ESTATE 27-27-004- 8264152 RECEIPT RELEASE AND INDEMNIFICATION AGREEMENT DEC 12 2011 ~ ~~~r The circumstances leading to the execution of this Waiver, Receipt, Release and Indemnification Agreement ("Agreement") are as follows: 1. Elmer H. Potteiger died on March 17, 2010; 2. The Last Wi]1 and Testament of Elmer H. Potteiger dated iViay 14, 2009 {the "Will"), a copy of which is attached hereto as Exhibit "A," was probated in the Register of Wills of Cumberland County, Pennsylvania to No. 21-10-0443, and PNC Bank, N.A. ("PNC"}, was qualified to serve as the Executor of the Estate; 3. Pursuant to Paragraph SECOND of the Will, the residue of the Es#ate is to be distributed two-thhds (2/3) to Cindy L• Johnson, granddaughter and one-third (1l3) to Caroline A. Stoner, daughter (the "Beneficiaries"); ~. The Beneficiaries acknowledge that they have received a copy of PNC's account of its administration of the Estate (the "Account"} and have requested that PNC distribute the Estate's assets to the Beneficiaries without the filing, audit and adjudication of the Aceount with Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania (the "Court"), and PNC has agreed to do so, provided that the Beneficiaries waive the filing with and auditing of the Account with the Court and release and agree to indenuufy PNC from any and all claims and liabilities relating in any way to its administration of the Estate; and 5. Each of the Beneficiaries has been offered the opporhanity to review the Will and the Account and based upon the examination of each of the undersigned, or on his or her decision not to make such an examination, each of the undersigned is satisfied that he or she has sufficient information to make an informed decision in waiving his or her right to a court audit of the Account and approving the administration of the Estate, including, but not limited to, the overall investment strategy of PNC and all decisions made and actions taken or not taken with regard to the administration of the Estate; and each of the undersigned has been informed that he or she is entitled to the filing of the Account with the Court and Court approval of the Account; NOW THEREFORE, in consideration of the foregoing and intending to be legally bound, each of the undersigned Beneficiaries hereby: 1. Represents and warrants that he or she has read and understands the Wili and this Agreement and that the facts set forth above are true and correct. C:1W]A'I701i'S\7'Cti@'~nate.C991261Pntteigrr- firul Relcase,DO(' Estate of Elmer H. Potteiger, Deceased Waiver of Account, Receipt, Release and Indemnification Agreement Page 2 of 3 2, Beneficiaries acknowledge and agree that PNG will not pursue any and ail asbestos claims made by Eimer H. Potteiger• prior to his death due to the small amount of proceeds that would come from the litigation and the uncertain timeframe the estate would be required to remain open to receive the proceeds. 3. (a) Declares that he or she has been offered the opportunity to review the Will and the Account and based upon an examination (or on his or her decision not to make such an examination}, the undersigned is satisfied that he or she has sufficient information to make an informed waiver of his ar her right to a formal accounting with the Court. (b) Accepts the Account as if it had been duly filed with and audited, adjudicated and confirmed absolutely by the Court. (c) Waives filing and auditing of the Account and agrees that the Court may by its decree confirm the Account should PNC decide to file the Account with the Court at a future date. ~. Acknowledges that {a) he or she has examined the Account, including the most recent disclosure of expense ratios available for any affiliated fund in which the Estate may have been invested, and fmds it to be true and correct in all particulars; and (b) that all fees paid to PNC, any of its affiliates or any unrelated third parties, for services, as reflected in the Account, were properly paid. 5, Approves the distribution of the Estate assets delineated on the attached schedule and, effective upon delivery of such assets to the Beneficiaries, each undersigned Beneficiary acknowledges receipt of such property. 6. Releases, and agrees to indemnify and hold PNC, in its corporate capacity and as Executor, harmless from and against any and all losses, claims, demands, surcharges, causes of action, costs and expenses (including legal fees, costs and expenses, whether incurred in (i) defending against such claims, or {ii) enforcing its rights under this Agreement), which may arise from its administration of the Estate, including, bu# not limited to, the compensation paid to PNC andfor any of its affiliates, PNC's overall investrent strategy, all decisions made and actions taken or not taken with regard to the administration or investment of the Estate, and PNC's distribution of the assets to the Beneficiaries in accordance with this Agreement. 7. Agrees to refi~nd to PNC any amount which may at any time be determined to have been an erroneous dishibution to him or her regardless of the cause of such erroneous distribution, even if attributable to negligence, agrees that any period for the limitation of actions for the collection of any erroneous distribution shall commence only at such time as PNC shall have obtained actual knowledge of such erroneous distribution and that in no event shall the period for collection of 2 Estate of Elmer H, Potteiger, Deceased Waiver of Account, Receipt, Release and Indemnification Agreement Page 3 of 3 any ezroneous distribution be less than two years after the actual discovery by PNC. 8. Declares it to be his or her intention that this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania, that the Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania shall have exclusive jurisdiction over all suits regarding the enforcement of this Agreement and specifically submits to the jurisdiction of such Court. 9. Declares that this Agreement shall be legally binding as an agreement under seal upon him or her (whether or not this Agreement is signed by all of the parties listed below) and upon his or her heirs, personal representatives and assigns. 10. Agrees that PNC, in its discretion, may decide whether or not to forgo its right to file the Account with the Cauit and transfer assets of the Estate to • the Beneficiaries if this Agreement is not signed by all Beneficiaries, 11. Understands that this Agreement may affect his or her legal rights and acknowledges that he or she has either consulted with an attorney or has affirmatively chosen to execute this Agreement without consulting an attorney. 12. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instzvment. N WIZTIESS W~REOE', t e undersigned has hereunto set his or her hand and seal this day of ~J ~, , 2011. WITNESS: Dated: 2011 CINDY L. JOHNSON SEAL] WITNESS: / Dated: ~!~ 11 ~. SAL] CAROLINE A. STONER 3 R~CC! Ea ELiVIER H. POTTEIGER ESTATE DEC ~ ;~ Z~ ~ ~ 27-27-004- 8264452 f P~?' RECEIPT. RELEASE AND INDEMNIFICATION AGREEiy~NT The circumstances leading to the execution of this Waiver, Receipt, Release and Indemnification Agreement ("Agreement") are as follows: 1. Elmer H, Potteiger died on March 17, 2010; 2. The Last Will and Testament of Elmer H. Potteiger dated lY1ay 14, 2009 (the "Will"), a copy of which is attached hereto as Exhibit "A," was probated in the Register of Wills of Cumberland County, Pennsylvania to No. 21-10-0443, and PNC Bank, N.A. ("PNC"), was qualified to serve as the Executor of the Estate; 3. Pursuant to Paragraph SECOND of the Will, the residue of the Esta#e is to be distributed two-thirds (213) to Cindy L. Johnson, granddaughter and one-third (1/3) to Caroline A. Stoner, daughter (the "Beneficiaries"); 4. The Beneficiaries acknowledge that they have received a copy of PNC's account of its administration of the Estate (the "Account") and have requested that PNC distribute the Estate's assets to the Beneficiaries without the filing, audit and adjudication of the Account with Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania (the "Court"), and PNC has agreed to do so, provided that the Beneficia;ies waive the f ling with and auditing of the Account with the Court and release and agree to indemnify PNC from any and all claims and liabilities relating in any way to its administration of the Estate; and S. Each of the Beneficiaries has been offered the opportunity to review the Will and the Account and based upon the examination of each of the undersigned, or on his or her decision not to make such an examination, each of the undersigned is satisfied that he or she has sufficient information to nmake an informed decision in waiving his or her right to a count audit of the Account and approving the administration of the Estate, including, but not limited to, the overall investment strategy of PNC and all decisions made and actions taken or no# taken with regard to the administration of the Estate; and each of the undersigned has been informed that he or she is entitled to the filing of the Account with the Court and Court approval of the Account; NOW THEREFORE, in consideration of the foregoing and intending to be legally bound, each of the undersigned Beneficiaries hereby: 1._ Represents and warrants that he or she has read and understands the Will and this Agreement and that the facts set forth above are true and correct. C:1tV4~NpWS7'EA7)„notcaC981YStiPotteiger -final ReluxDpC Estate of Elmer H. Potteiger, Deceased Waivex of Account, Receipt, Release and Inderrurification Agreement Page 2 of 3 2. Beneficiaries acknowledge and agree that PNC will not pursue any and all asbestos claims made by Elmer H. Potteiger prior to his death due to the small amount of proceeds that would tonne from the litigation and. the uncertain timeframe the estate would be required to remain open to receive the proceeds. 3. (a) Declares that he or she has been offered the opportunity to xeview the Will and the Account and based upon an examination (or on his or her decision not to make such an examination), the undersigned is satisfied that ke or she has sufficient information to make an informed waiver of his or her right to a formal accounting with the Court. (b} Accepts the Account as if it had been duly filed with and audited, adjudicated and confirmed absolutely by the Court. (c) Waives filing and auditing of the Account and agrees that the Court may by its decree confirm the Account should PNC decide to file the Account with the Court at a future date. 4. Acknowledges that (a) he or she has examined the Account, including the most recent disclosure of expense ratios available for any affilia#ed fund in which the Estate may have been invested, and finds it to be true and correct in all particulars; and (b) that all fees paid to PNC, any of its affiliates or any unrelated third parties, for services, as reflected in the Account, were properly paid. 5. Approves the distribution of the Estate assets delineated on the a#tached schedule and, effective upon delivery of such assets to the Beneficiaries, each undersigned Beneficiary acknowledges receipt of such property. 6. Releases, and agrees to indemnify and hold PNC, in its corporate capacity and as Executor, harmless from and against any and all losses, claims, demands, surcharges, causes of ac#ion, costs and expenses (including legal fees, costs and expenses, whether incurred in (i) defending against suck claims, or (ii} enforcing its rights under this Agreement), which may arise from its administration of the Estate, including, but not limited to, the compensation paid to PNC and/or any of its affiliates, PNC's overall investment strategy, all decisions made and actions taken or not taken witk regard to the administration or investment of the Estate, grid PNC's distribution of the assets to the Beneficiaries in accordance with this Agreement. 7. Agrees to refund to PNC any amount which may at any time be determined to have been an erroneous distribution to him or her regardless of the cause of such erroneous distribution, even if attributable to negligence, agrees that any period for the limitation of actions for the collection of any erroneous distribution shall commence only at suck time as PNC shall have obtained actual knowledge of suck erroneous distribution and that in no event shall the period for collection of 2 Estate of Elmer H. Potteiger, Deceased Waiver of Account, Receipt, Release and Indemnification Agreement Page 3 of 3 any erroneous distribution be less than two years after the actual discovery by PNC. S. Declares it to be his or her intention that this Agreement shall be govezned by the laws of the Commonwealth of Pennsylvania, that the Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania shall have exclusive jurisdiction over all suits regarding the enforcement of this Agreement and specifically submits to the jurisdic#ion of such Court. 9. Declares that this Agreemen# shall be legally binding as an agreement under seal upon him or her (whether or not this Agreement is signed by all of the parties lis#ed below) and upon his or her heirs, personal representatives and assigns. 10. Agrees that PNC, in its discretion, may decide whether or not to forgo its right to file the Account with the Court and transfer assets of the Esta#e to the Beneficiaries if this Agreement is not signed by alI Beneficiaries. 11. Understands that this Agreement may affect his or her legal rights and acknowledges that he or she has either consulted with an attorney or has affirmatively chosen to execute this Agreement without consulting an attorney. 12. 't'his Agreement may be executed in any number of countezpazts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument. IN WITNESS WH,~REOF, the undersigned has hereunto set his or her hand and seal this day of--.~~~n~~~ 9 , 2011, WITNESS: Dated: ~, ~ ~~q' l ~ - . ___ 'L(~„ 2011 L~ SEAL CINDY OHN N [ j WITNF,SS: Dated; , 2011 [SEAL] CAROL~IE A: STONER 3