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HomeMy WebLinkAbout04-04-12 (2)IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION In the Matter of the Estate of JAMES A. THORNE, late of Estate File No. 2011 ~ 111 ~.._ ~' c Wormleysburg Borough p ~ ~ ~ ~ Cumberland County, ]D r~sr ~ ~ ~ ~~ , _~7 Pennsylvania, deceased ~~ _ ~~ ~ .~- x~ FAMILY SETTLEMENT AGREEMENT ©a~` r~ ~ - T~ ESTATE OF JAMES A. THORNE = ~ c„~ ~. . , ~ A .~- THIS AGREEMENT, made this 13~' day of July, 2011 by and between KELLY T. ~' BOYLE, KERRY ANN KENNEY, KAREN T. BOLUS, and KATHLEEN E. BADDICK: WITNESSETH: WHEREAS, JAMES A. THORNE, late of Middlesex Township, Cumberland County, Pennsylvania, deceased, died testate on October 17, 2010; and WHEREAS, the beneficiaries of the Estate of JAMES A. THORNE, deceased, were named in the Last Will and Testament of JAMES A. THORNE devising and bequeathing all of his estate of every nature and wherever situate in equal shares to each of his children: KELLY T. BOYLE, KERRY ANN KENNEY, KAREN T. BOLUS, and KATHLEEN E. BADDICK; and WHEREAS, Letters Testamentary were duly issued to Kathleen E. Baddick by the Register of Wills of Cumberland County, Pennsylvania, on January 25, 2011; and WHEREAS, Letters Testamentary were duly advertised as required by law; and WHEREAS, Kathleen E. Baddick, Executrix of the ESTATE OF JAMES A. THORNE, has completed gathering. the assets of the Estate, consisting as of this date of real and personal property as more fully set forth in the Account of Kathleen E. Baddick, Executrix, which is attached hereto and incorporated herein; and WHEREAS, all known debts, expenses and taxes have been paid, including the Pennsylvania Inheritance Tax and administrative expenses of the ESTATE OF JAMES A. THORNE; and WHEREAS, the aforesaid beneficiaries of the ESTATE OF JAMES A. THORNE may examine any statements, bank records, tax returns, estate inventories, cancelled checks, correspondence, and various other supporting documents as they desire pertaining to the ESTATE OF JAMES A. THORNE. NOW, THEREFORE, KNOW YE, that we, KELLY T. BOYLE, KERRY ANN KENNEY, KAREN T. BOLUS, and KATHLEEN E. BADDICK, being the beneficiaries of the ESTATE OF JAMES A. THORNE, do hereby agree that each of them at the same time as this Family Settlement Agreement is signed will sign a disclaimer of interest pursuant to 20 Pa. C.S.A. §6201, et seq., of their interest in the real estate which forms a part of the ESTATE OF JAMES A. THORNE and do hereby authorize and agree that Kathleen E. Baddick, Executrix, may sell the real estate to their mother, Jane D. Carroll pursuant to the subsequent terms of this h~ Family Settlement Agreement, in consideration of the payment by Jane D. Carroll of the balance due on the mortgage which encumbers the said real estate; AND, in consideration of the execution by each of the beneficiaries of the disclaimer in interest to said real estate, the terms and conditions of which disclaimer are attached hereto, the parties do hereby stipulate and agree that Jane D. Carroll may hereafter enter into a lease with option to purchase for the real estate with beneficiary, KELLY T. BOYLE, and each beneficiary reaffirms the said disclaimer and agrees and consents to said transaction; AND further, KELLY T. BOYLE, having disclaimed all interest in the rest, residue and remainder of the ESTATE OF JAMES A. THORNE, hereby agrees and consents to the distribution of the net proceeds of said rest, residue and remainder to the other beneficiaries, pursuant to such schedule distribution as the Executrix in her sole discretion may deem appropriate; NOW, THEREFORE, upon receipt of any final distribution, we do hereby remise, release, quitclaim, and forever discharge the said Kathleen E. Baddick, Executrix, her heirs, executors, administrators, and assigns, of and from the said Estate and from all actions, suits, payments, accounts, reckonings, claims, and demands whatsoever, touching upon the ESTATE OF JAMES A. THORNE, and her fiduciary obligations as Executrix of the said Estate. AND, we do hereby further covenant and agree that should any claim or liability come due to the ESTATE OF JAMES A. THORNE after the signing of this Family Settlement Agreement, we will contribute pro-rata our share of the Estate to satisfy any and all claims, demands, suits, or other causes of action which may be successfully prosecuted against the ESTATE OF JAMES A. THORNE, deceased, or against Kathleen E. Baddick in her capacity as Executrix of the said Estate. IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above-written. WITNESS: K lly T. yl , n iary of the Estate of James A. Thorne Kerry Ann Kenney, Beneficiary of the Estate of James A. Thorne Karen T. Bolus, Beneficiary of the Estate of James A. Thorne D athleen E. Bad ck, Executrix/Beneficiary of the Estate of James A. Thorne Family Settlement Agreement, in consideration of the payment by Jane D. Carroll of the balance due on the mortgage which encumbers the said real estate; AND, in consideration of the execution by each of the beneficiaries of the disclaimer in interest to said real estate, the terms and conditions of which disclaimer are attached hereto, the parties do hereby stipulate and agree that Jane D. Carroll may hereafter enter into a lease with option to purchase for the real estate with beneficiary, KELLY T. BOYLE, and each beneficiary maffirms the said disclaimer and agrees and consents to said transaction; AND further, KELLY T. BOYLE, having disclaimed all interest in the rest, residue and remainder of the ESTATE OF JAMES A. THORNS, hereby agrees and consents to the distribution of the net proceeds of said rest, residue and remainder to the other beneficiaries, pursuant to such. schedule distribution as the Executrix in her sole discretion may deem appropriate; NOW, THEREFORE, upon receipt of any final distribution, we do hereby remise, release, quitclaim, and forever discharge the said Kathleen E. Baddick, Executrix, her hens, executors, administrators, and assigns, of and from the said Estate and from all actions, suits, payments, accounts, reckonings, claims, and demands whatsoever, touching upon the ESTATE OF JAMES A. THORNS, and her fiduciary obligations as Executrix of the said Estate. AND, we ~ hereby further covenant and agree that should any claim or liability come due to the ESTATE OF JAMES A. THORNS-after the signing of this Family Settlement Agreement, we will contribute pro-rata our share of the Estate to satisfy any and all claims, demands, suits, or other causes of action which may be successfully prosecuted against the ESTATE OF JAMES A. THORNS, deceased, or against Kathleen E. Baddick in her capacity as Executrix of the said Estate. IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above-written. WITNESS: ~,~~~ Kelly T. Boyle, Beneficiary of the Estate of James A. Thorne ~~ ti ~ K Kenney, Ben of th state of James A. me Karen T. Bolus, Beneficiary of the Estate of James A. Thorne Kathleen E. Baddick, Executrix/Beneficiary of the Estate of James A. Thorne Family Settlement Agreement, in consideration of the payment by Jane D. Carroll of the balance due on the mortgage which encumbers the said real estate; AND, in consideration of the execution by each of the beneficiaries of the disclaimer in interest to said real estate, the terms and conditions of which disclaimer are attached hereto, the parties do hereby stipulate and agree that Jane D. Carroll may hereafter enter into a lease with option to purchase for the real estate with beneficiary, KELLY T. BOYLE, and each beneficiary reaffirms the said disclaimer and agrees and consents to said transaction; AND further, KELLY T. BOYLE, having disclaimed all interest in the rest, residue and remainder of the ESTATE OF JAMES A. THORNS, hereby agrees and consents to the distribution of the net proceeds of said rest, residue and remainder to the other beneficiaries, pursuant to such schedule distribution as the Executrix in her sole discretion may deem appropriate; NOW, THEREFORE, upon receipt of any final distribution, we do hereby remise, release, quitclaim, 'and forever discharge the said Kathleen E. Baddick, Executrix, her heirs, executors, administrators, and assigns, of and from the said Estate and from all actions, suits, payments,. accounts, reckonings, claims, and demands whatsoever, touching upon the ESTATE OF JAMES A. THORNS, and her fiduciary obligations as Executrix of the said Estate. AND, we do hereby further covenant and agree that should any claim or liability come due to the ESTATE OF JAMES A. THORNS after the signing of this Family Settlement Agreement, we will contribute pro-rata our share of the Estate to satisfy any and all claims, demands, suits, or other causes of action which maybe successfully prosecuted against the ESTATE OF JAMES A. THORNS, deceased, or against Kathleen E. Baddick in her capacity as Executrix of the said Estate. IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above-written. WITNESS: Kelly T. Boyle, Beneficiary of the Estate of James A. Thorne Kerry Ann Kenney, Beneficiary of the Estate of James A. Thorne o eneficiary of the Estate of James A. Thorne Kathleen E. Baddick, Executrix/Beneficiary of the Estate of James A. Thorne I _~ COMMONWEALTH OF PENNSYLVANIA COUNTY OF DAUPHIN :ss On this, the1~~day of 2011, before me the undersigned officer, personally appeared KELLY T. OYL known to me (or satisfactorily proven) to be the person whose name is subscribed to the within nstrument, and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. .~ NOTARIAL SEAL TARA t.. SWARTZ Notary Public HARRISBURG CITY, DAUPHIN COUNTY My Commission Expires Oct f1, 2012 STATE OF ARIZONA COUNTY OF MARICOPA :ss On this, the day of 2011, before me the undersigned officer, personally appeared KERRY ANN KENNEY 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 purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Public COMMONWEALTH OF PENNSYLVANIA ` as COUNTY OF DAUPHIN On this, the T day of 2011, before me the undersigned officer, personally appeared KELLY T. BOYLE, 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 purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Public STATE OF ARIZONA COUNTY OF MARICOPA :ss On this, the ~'~day of 2011, before me the undersigned officer, personally appeared KERRY ANN KE 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 purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. OFFICIAL SEAL COLLIN KLASEEN NOTARY PUBIIC - State of Arizona Notary Public MARICOPA COUNTY My Comm. Expires Feb. 29, 2012 COMMONWEALTH OF PENNSYLVANIA G'6 as COUNTY OF UNION On this, the~,~ day of ~ 2011, before me the undersigned officer, personally appeared KAREN T. BO S, known to me (or satisfactorily rov ) to be the person whose name is subscribed to the wi instrument, and ac snow a ge t she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. cor~n~ of ra~snviwv- COMMONWEALTH OF PENNSYLVANIA COUNTY OF DAUPHIN ss On this, the _ day of 2011, before me the undersigned officer, personally appeared KATHLEEN E. BADDICK, 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 purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. NlotaAil Sstl -^• ~ ~ ox~s ~~ ~- N0~' PubNc otary Public CAromMMon - tNNOn~3 m15 PEMNSYWMQA A950CU Or NOT Notary Public COMMONWEALTH OF PENNSYLVANIA COUNTY OF UNION :ss On this, the day of 2011, before me the undersigned officer, personally appeared KAREN T. BOLUS, 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 purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. COMMONWEALTH OF PENNSYLVANIA COUNTY OF DAUPHIN Notary Public :ss On this, the ~5 day of -~ 2011, before me the undersigned officer, personally appeared KATHLEEN E. B DICK, known to me (or satisfactonly proven) to be the person whose name is subscribed to the within instrument, and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notary Public COMMONyVEAI.TH OF PENNSYLVANIA NowIM Seel Anne Merie Beehore, Naet!- Pubifc CUy d Fb~burp, O~uPNo 6CouAb201Z Member, Pennsylvania ~~ of dam ESTATE OF JAMES A. THORNE ACCOUNT OF KATHLEEN E. BADDICK, EXECUTRIX SUMMARY OF ACCOUNT Cash, Bank Deposits, & Miscellaneous. Personal Property $ 55,283.13 Less Administrative Expenses: $ 25,012.91 NET BALANCE ON HAND $ 30,270.22 Real Estate: 400 N. Second Street, Wormleysburg, PA' $107,500.00 Mortgage payoff: $ 54,356.06 1 The real property located at 400 N. Second Street, Wormleysburg, PA 17043 (Tax Parcel No. 47-19-1588-062; assessed value: $107,500.00) was transferred to Jane D. Carroll. Payment of the balance due on the original mortgage was made by Jane D. Carroll on March 28, 2011, in the amount of $54,356.06, plus closing costs. ESTATE OF JAMES A. THORNE RECEIPTS OF PRINCIPAL Cash, Bank Deposits and Miscellaneous Personal Property: 1990 Mercedes-Benz 300 CE U.S. Treasury, Social Security Payment Veterans' Administration, Disability payment Metro Bank (Savings account xxx8402) Metro Bank (Checking account xxx3129) PSECU (Savings account 51-4310) PSECU (Money market account 54-4310) Metro Bank, interest from Oct 2010-Jun 2011 PSECU, dividends from Oct 2010-Apr 2011 Chase (credit card refund) Veteran's Administration, Death Benefit Mortgage Service Center, refund Adjustment to balance account TOTAL 1,000.00 2,842.00 2,673.00 42,017.68 4,084.14 78.69 31.36 4.08 .20 44.50 2,000.00 453.47 54.01 $ 55,283.13 ESTATE OF JAMES A. THORNE ADNIINISTRATIVE EXPENSES Wiedeman Funeral Home -Funeral expenses Glenda Fanner Strasbaugh, Agent -Estimated payment of inheritance tax 4,966.80 3,688.19 Luther E. Milspaw, Jr. -Estimated attorneys' fees and costs 3,000.00 00 75 Cumberland Law Journal -Legal publication . 41 300 The Patriot-News -Legal publication Register of Wills -Probate fees Glenda Farner Strasbaugh . 277.50 , Register of Wills -Filing of Inheritance Tax Return Glenda Fanner Strasbaugh 15.00 , Glenda Fanner Strasbaugh, Register of Wills -Filing of Settlement Agreement 25 00 Glenda Fanner Strasbaugh, Register of Wills -Filing of Disclaimer . 000.00 3 Kathleen E. Baddick -Executrix fee , 00 450 Kathleen E. Baddick - POA fees . 330.00 Kelly T. Boyle -Cleaning services 00 190 Pennsylvania American Water, water bill . 18 200 Kerry Ann Kenney, funeral flowers . 00 898 Kathleen Baddick, funeral luncheon . 212.19 PPL, electric bill Borough of Wormleysburg, sewer/refuse bill 140.00 90 92 Kathleen Baddick, 2010 Turbo tax payment . 14.00 PSECU, dormant bank charges 00 800 Mortgage Service Center, October payment . 00 800 Mortgage Service Center, November payment . 1.80 Metro Bank, bank charges reclamation of disability payment VA Debt Management 2,673.00 , Mortgage Service Center, December payment 850.00 750.00 Mortgage Service Center, January payment 47 809 Mortgage Service Center, February payment . 453.47 Jane Carroll, mortgage overpayment TOTAL ADMINISTRATIVE EXPENSES $ 25,012.91 ESTATE OF JAMES A. THORNS PROPOSED DISTRIBUTION TO BENEFICIARIES Principal on hand: $ 30,270.22 Initial Distributions made: - 24,000.00 Balance to be Distributed: $ 6,270.22 Residuary Estate: Kelly T. Boyle (Interest Disclaimed $ 0.00 Kerry Ann Kenney ('/3) $10,090.08 Minus Initial Distribution: - 8 000.00 $ 2,090.08 Karen T. Bolus ('/a) $10,090.08 Minus Initial Distribution: - 8 000.00 $ 2,090.08 Kathleen E. Baddick ('/s) $10,090.06 Minus Initial Distribution: - 8 000.00 $ 2,090.06 TOTAL REMAINING DISTRIBUTIONS: $ 6,270.22