HomeMy WebLinkAbout03-26-12
FAMILY SETTLEMENT AND FINAL RELEASE IN THE ATE--~ ~~~
OF RUTH K. COLLINS, DECEASED ~ ~ --~ ~'
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Know that Ruth K. Collins, late of New Cumberland, Cthi~lanc~' -~
County, deceased, died testate on June 25, 2011, having first made, e'er Last:' '.= ';
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Will and Testament that was duly executed on May 7, 1993, and is dull'
recorded in Cumberland County under number 2011-00786;
WHEREAS, Ruth K. Collins, by her Last Will and Testament, named
her daughter, Barbara C. Oyler as Executrix of her Last Will and Testament;
WHEREAS, Letters Testamentary on the Estate of Ruth K. Collins
were duly issued by the Register of Wills of Cumberland County,
Pennsylvania, to the Executrix;
WHEREAS, the Executrix has gathered the assets of the Estate of
Ruth K. Collins and the assets consist of personal property with a total value
of $ 1,221,897.00, as set forth in the Statement of Account that is attached
hereto as "Exhibit A";
WHEREAS, the Executrix has paid the debts of the Estate in the
amount of $ 64,439.00, leaving a balance for distribution of $1,157,458.00
as set forth in Exhibit A;
WHEREAS, the balance for distribution as shown in Exhibit A has
been distributed in accordance with the terms of the Last Will and Testament
of Ruth K. Collins;
NOW, THEREFORE, we, Barbara C. Oyler and James J. Collins II,
the children and sole beneficiaries of the Decedent, Ruth K. Collins, each of
us, acknowledge that we have this day received all money, legacies,
bequests, and devises as are given, devised, and bequeathed to each of us in
accordance with the Last Will and Testament of Ruth K. Collins, as set forth
in the Statement of Distribution attached hereto as "Exhibit B".
AND, we, Barbara C. Oyler and James J. Collins II, do hereby
stipulate that to avoid the expense and time involved in the filing of a formal
account and schedule of distribution, we agree that no account is necessary,
and we agree that we consent to the distribution being made without the
formal filing of an account and schedule of distribution, the same to be with
the same force and effect as if the documents had been filed and confirmed
by the Orphans' Court Division of the Court of Cumberland County,
Pennsylvania.
THEREFORE, we do each hereby release, quitclaim, and forever
discharge the Executrix, Barbara C. Oyler, Timothy A. Holmes, their
executors, administrators, and assigns, from all actions, suits, payments,
accounts, reckonings, and claims touching upon the Estate of Ruth K.
Collins. We also agree that should any liability come due to the Estate of
Ruth K. Collins after the signing of the Agreement, we covenant and agree
that we will share equally the financial responsibility for satisfying any and
all taxes, liabilities, claims, demands, suits, or causes of action that may be
successfully prosecuted or assessed against the Estate after the signing,
sealing, and delivery of this Family Settlement Agreement and Final
Release.
IN WITNESS WHEREOF, We have hereunto set our hands and seals this
26th day of March, 2012.
~~~~~~ ~ (Seal)
Barbara C. Oyler
(Seal)
mes J ollins II
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
ss:
On this, the 26th day of March, 2012, before me, a Notary Public, the
undersigned officer, personally appeared Barbara C. Oyler, Executrix, known to
me (or satisfactorily proven) to be the person whose name is subscribed to the
within instrument, and acknowledged that she executed this Family Settlement
Agreement for the purpose therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
- ~ -}--~' SEAL
Notary Public
My Commission Expires: K 1/ ~D 5
COMMONWEALTH OF PENNSYLVANIA ooMMa4~ews+
NOTARIAL SEAL
FREDERK:K W. BAKER Ii, Notary Pubsc
) North I~ddlelon Twp., Cumberland County
COUNTY OF CUMBERLAND )ss; Commission Exp~es Sept 21,2015
On this, the 26th day of March 2012, before me, the undersigned
officer, personally appeared JAMES J. COLLINS II, known to me, (or
satisfactorily proven) to be the person described in the foregoing instrument,
and acknowledged that he executed the instrument for the purposes therein
contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
~ SEAL
Notary Public
My Commission Expires: ~" - ~J ~d/~
__ arr ~~+
- -NOTARIAL. SEAL
FREDERK:K W. BAKER 11, Notary Pt~t'ic
EXHIBIT A
STATEMENT OF ACCOUNT
ASSETS:
Real Estate•
1. Residence
Subtotal: $160,000
Stocks & Bonds:
$160,000
1. Met Life (10 shares) $410
2. Prudential National Muni FD C 1 C, Prudential
Acct. 30959258 (4,399.277 shares) $64,097
3. Banco Santander (239 shares) $2,553
4. Prudential Financial, Inc. (316 shares) $18 875
5. Principal Financial Group (354 shares) $10, 298
6. 36 Series EE US Savings Bonds, dated 8/1984
through 4/1985 $3,600
Interest accrued $10,731
7. 33 Series EE US Savings Bonds, dated 5/1988
through 1/1989 $3,300
Interest accrued $6,900
8. 33 Series EE US Savings Bonds,
dated 12/1982 through 8/1984 and
3 Series EE US Savings Bonds
dated 3/1984 through 5/1984 $4,800
Interest accrued $14,932
9. 45 Series EE US Savings Bonds,
dated 7/1987 through 5/1988 and
2 Series EE US Savings Bonds
dated 12/1987
Interest accrued
10. 46 Series EE US Savings Bonds,
dated 8/1986 through 7/1987
Interest accrued
11. 33 Series EE US Savings Bonds,
dated 4/1985 through 9/1985
Interest accrued
12. 47 Series EE US Savings Bonds,
dated 10/1985 through 8/1986
Interest accrued
13. 11 Series EE US Savings Bonds,
dated 9/2002; 4 Series EE US Savings
Bonds, dated 9/2002; and 12 Series EE
US Savings Bonds dated 7/1991
Interest accrued
14. 4 Series I US Savings Bonds,
dated 10/2001through 6/2003 and
1 Series I US Savings Bond dated 12/2001
Interest accrued
15 . U. S . Treasury Note maturing 11 /3 0/ 11
Interest accrued
16. U. S . Treasury Note maturing 4/3 0/ 13
Interest accrued
$4,600
$10,023
$4,600
$10,936
$2,300
$6,655
$4,700
$13,132
$87,000
$69,773
$45,000
$20,714
$2,000
$1
$1,000
$1
Subtotal: $422,931
Mort~a~es & Notes Receivable:
1. MJ Explosives Inc. Demand Note
dated 10/9/09 $115,033
Interest Accrued $1,803
2. United Methodist Church Demand Loans
dated 2/14/02, 11/28/01, 9/3/02, 5/8/02,
6/14/02, 9/3/02 $100,000
Interest Accrued $97
Subtotal: $216,933
Cash, Bank Deposits, & Misc. Proper
1. PNC Checking Account (5140012428) $14,423
2. PNC Money Market Account (5001608237) $80,238
Interest Accrued $10
3. Personal Property-residence contents $1,931
4. Automobile $7,990
5. Coin Collection $3,935
6. Allstate Nursing Care Reimbursement Claim $950
7. Jewelry $75
8. Cash in decedent's possession $382
9. Sovereign Bank CD (775545585) $9,513
10. Sovereign Bank CD (775546112) $11,864
11. Susquehanna Bank CD (10006351703) $27,118
12. Susquehanna Bank CD (10006351810) $27,291
13. Allstate Refund Nursing Home Insurance Premium $83
14. Highmark Premium Refund $253
15. CNA LT Care Insurance Premium Refund $788
16. Hartford Auto Insurance Refund $656
17. Patriot News Refund $270
18. CNA LT Care Insurance Claim Pymt. $2,000
19. Legionnaire Insurance Premium Refund $41
20. Medico Refund $22
21. Legionnaire Med Insurance Claim Pymt. $1,121
22. Legionnaire Med Insurance Claim Pymt. $60
23. CNA LT Care Insurance Claim Pymt. $3,523
24. PA Dept. of Rev.-refund receivable $427
Subtotal: $194,964
Jointly-Owned Property:
1. Rolling Green Cemetery Lots $2, 527
Subtotal: $2,527
Inter-Vivos Transfers and Misc. Non-Probate Prover
1. Prudential Annuity Contract #E0487386 $135 736
2. Met Life Annuity Contract #OOOC1015890 $4 444
3. Union Central Annuity #3052234 $21 289
4. Principal Financial Annuity #00070123 $ 63 073
Subtotal: $ 224,542
Total Assets: $1,221,897
LIABILITIES:
Funeral Exuenses and Administrative Costs:
1. Funeral Expense (Rolling Green Cemetery)
2. Parthemore Funeral Home
3. Funeral Meal
4. Attorney Fees
5. Probate Fees
6. Accounting Fees
7. PP&L utilities (residence)
8. Chapman Fuel Oil (residence)
9. New Cumberland Borough (water and sewer)
(residence)
10. William Raves (residence lawn maintenance)
1 1. PA American Water (residence)
$1,195
$9,689
$337
$1,500
$854
$4,500
$191
$2,020
$310
$700
$221
12. Bank Fees
13. Carpet Cleaning (residence)
14. House Washing
15. Reserve for Final Income Tax Preparation
16. Reserve for Fiduciary Income Tax
17. Carlisle Sentinel (advertise grant of letters)
18. Cumberland County Law Journal
(advertise grant of letters)
19. Baron & Associates (real estate appraisal)
Subtotal: $23,439
Debts of Decedent, Mortgage Liabilities. & Liens:
1. Bill Raves
2. PP&L
3.
4.
5.
6.
7.
$42
$140
$150
$550
$450
$190
$75
$325
$210
$35
Continuing Care RX $331
Cumberland Crossing Nursing Home Expense $2,702
PA American Water $27
PSERS -repay portion of final retirement pymt. $79
IRS-balance due on final income tax return $37,616
SubSub_: $41,000
Total Liabilities: $64,439
Total for Distribution• 157 458
EXHIBIT B
STATEMENT OF DISTRIBUTION
Total for Distribntinn• ~t 1 7 458
Distributions to Barbara C Oyler:
Stocks & Bonds $211,465.50
Mortgages & Notes Receivable $108,466.50
Cash, Bank Deposits, &Misc. Property $177,482.00
Jointly-Owned Property $1,263.50
Inter-Vivos Trans. and Misc Non-Probate Prop. $112,271.00
Less 50% of Liabilities ($32,219.50)
Total Distributed to Barbara C. Oyler: $578,729.00
Distributions to James J. Collins II:
Real Estate (Residence) $160,000.00
Stocks & Bonds $211,465.50
Mortgages & Notes Receivable $108,466.50
Cash, Bank Deposits, &Misc. Property $17,482.00
Jointly-Owned Property $1,263.50
Inter-Vivos Trans. and Misc Non-Probate Prop. $112,271.00
Less 50% of Liabilities ($32,219.50)
Total Distributed to James J. Collins II: $578,729.00