HomeMy WebLinkAbout07-25-12 (3)RECEIPT AND RELEASE
WHEREAS, Louise K. Reese, late of Hampden Township, County
of Cumberland and Commonwealth of Pennsylvania, died on March 7,
2009, having first made her Last Will and Testament in writing
probated before the Register of Wi11s of said Cumberland County
on March 17, 2009, and Letters Testamentary were issued on the
same date to Robert E. Reese and William J. Reese named in the
Last Will and Testament of said Decedent; The said William J.
Reese, died on February 3, 2012, leaving Robert E. Reese as the
sole Executor of the estate under the terms of the Will
I and
WHEREAS, said Executor has entered upon and completed his
administration of said Decedent's Estate as set forth in his
First and Final Account attached hereto, and intends to
distribute the net balance of the assets of said Estate to the
persons named in the Statement of Proposed Distribution also
attached hereto, both of said documents being incorporated herein
by reference thereto; and
WHEREAS, the said William J. Reese left his Last Will and
LAW OFFICES
SNELBAKER ~G
BRENNF_i\AAN, P.C.
!Testament dated January 20, 2012, which was duly probated in the
Circuit Court of Accomack County, Commonwealth of Virginia on
February 27, 2012, naming Tammy D. Reese as Executrix thereof;
r~._~
and who duly qualified as such Executrix on Febr~~y 27,E 012;~.~
and ~.~,-,_ r- ~ , ~;
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WHEREAS, the Estate of William J. Reese acting by and
through the Executrix aforesaid, is entitled to receive the
balance for distribution of the Estate of Louise K. Reese
attributable to William J. Reese;
NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS, that we
Robert E. Reese and Tammy D. Reese, Executrix of the Estate of
William J. Reese, being the principal legatees and distributees
named in the Will of said Decedent and the persons entitled to
share in the residuary distribution of the Estate of said
Decedent, do hereby declare and say that we, and each of us, have
examined the attached Account and Statement of Proposed
Distribution, and find the same to be true and correct, and in
strict accordance with the terms and provisions of said Will, and
we do hereby acknowledge that we, and each of us, this day have,
had and received of and from Robert E. Reese, surviving Executor
of the Estate of Louise K. Reese, the cash and/or personalty set
opposite our names in the above mentioned Statement of Proposed
Distribution, in full satisfaction, payment and discharge of all
such sum or sums of money, legacies and bequests, share or
shares, purparts and dividends which were due, owing and payable
and belonging to us, and each of us, by any means whatsoever, for
or on account of our full share, part or dividend of the Estate
of Louise K. Reese, Deceased.
NOW, THEREFORE, we, and each of us, the said Robert E. Reese
and Tammy D. Reese, Executrix of the Estate of William J. Reese,
LAW OFFICES
SNELBAKER & 2
BRENNEPnAN, F.C.
do by these presents, remise, release, quit-claim and forever
discharge the said Robert E. Reese, his heirs, executors and
administrators, of and from our said shares or dividends of the
Estate aforesaid, and of and from all actions, suits, payments,
accounts, reckonings, claims and demands whatsoever, for or by
reason thereof, or of any act, matter, cause or thing whatsoever,
from the beginning of the world to the day and date of these
,presents.
AND, desiring to avoid the delay and expense of the
settlement of said Estate by filing the foregoing Account of said
administration in the Office of the Register of Wills of said
Cumberland County and by having the balance in the hands of the
Executor, as shown by said Account, distributed by the Court of
Common Pleas of Cumberland County - Orphans' Court Division, we,
and each of us, do hereby agree that the foregoing Account and
Statement of Proposed Distribution concerning the matter of
settlement may be recorded with the same effect upon us, and each
of us, as if the same had been reported upon by said Court, in a
decree of distribution made on such proposed Statement of
Distribution by the said Court of Common Pleas - Orphans' Court
Division.
AND in consideration of the aforesaid settlement being made
without the aid of such Court of Common Pleas - Orphans' Court
i Division, that we, and each of us, the said Robert E. Reese and
Tammy D. Reese, Executrix for the Estate of William J. Reese, do
LAV~~ OFr=iC ~~
SNELBAKER E[ 3
ORENNF_MAN, P.C.
hereby agree that if any debts or demands other than those
included in the above referenced First and Final Account, as
ihereinbefore set forth, shall be hereafter recovered against the
'.Estate of said Decedent and be legally payable out of the same,
that we, and each of us, will return to the said Executor such
amounts thereof as may be necessary to pay such debts or demands.
IN WITNESS WHEREOF, we have hereunto set our hands and seals
this ~~~~ day of S~-t`~-- 2012.
WITNESSED BY:
~ ~
'1~~7 ( SEAL )
Robert E. Reese
..
,, ,"~
Tammy D~:f Reese
Executrix for the Estate of
William J. Reese
LAN,' CFF!CES
SNELBAKER ~C 4
BRENNEMAN, F.C.
COMMONWEALTH OF PENNSYLVANIA)
SS.
COUNTY OF CUMBERLAND)
On this the ~ `~~'~ day of ~c..t.~ ~ 2012, before me, a
Notary Public in and for said State and County, the undersigned
officer, personally appeared Robert E. Reese known to me (or
satisfactorily proven) to be the person whose name is subscribed
to the within instrument and acknowledged that he executed the
same for the purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official
seal.
~ K ~I~~~
Notary Public
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Sandra K. Showers. Notary PubNc
Med~aniaburg Boro, Ctxnberland County
I"M Commission Fzpkes Nov. Z2, 2015
MEMBER PENNSYLVANIA A550CIATNNIOF NOT
LAW OFFICES
SNELBAKER SC 5
BRENNF_V1AN. P.C.
(COMMONWEALTH OF VIRGINIA )
SS.
COUNTY OF ~CCI~~~ )
On this the ~~ ~ day of ~~L-`i 2012, before me, a
Notary Public in and for said State and County, the undersigned
officer, personally appeared Tammy D. Reese, Executrix for the
Estate of William J. Reese, 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 h nd and official
,„ ,~
seal. r, ~
...._ / ''
,~`
,,~„ . LINDASURRAN-RUSSELL ' Notar Public
Notary Public y
Commonwealth of Virginia -
t° Reg. #7507336
My Commission Exps. Nov. 30.207 5
LAW OFFICES
SNELS AKER ~1 6
BRENNF_MAN. P.C.
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PA.
ORPHANS' COURT DIVISION
FILE NO: 21-09-0263
FIRST AND FINAL ACCOUNT OF
Robert E. Reese, Executor
For
ESTATE OF LOUISE K. REESE
Social Security #: 196-09-2600
Tax ID #: 26-6829343
Date of Death: March 7, 2009
Date of Incapacity, if any: None
Date of Executor Appointment: March 17, 2009
Date of First Complete Advertisement: March 27, 2009
Accounting for the period: March 7, 2009
June 4, 2012
Purpose of Account: Robert E. Reese, Executor, offers this Account to acquaint interested
parties with the transactions that have occurred during his Administration.
It is important that the Account be carefully examined. Requests for additional
information, questions or objections can be discussed with:
Richard C. Snelbaker
Snelbaker & Brenneman, P.C.
44 West Main Street
Mechanicsburg, PA 17055
Phone #: 717-697-8528
Supreme Court I.D. No: 06355
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SNELBAKER SC
BRENNF_MAN, F.C.
Page 1
LAW OFFICES
SNELBAKER
BRENNF_MAN, P.C.
SUMMARY OF ACCOUNT
PRINCIPAL
Receipts
Net Gain on Sales or Disposition
Less Disbursements:
Debts of Decedent
Funeral Expenses
Administration Expenses
Family Exemption
Federal, State & Local Taxes
Fees and Commissions
Balance before Distributions
Distributions to Beneficiaries
Principal Balance on Hand
For Information:
Investments Made
Changes in Holdings
INCOME
Receipts
Less Disbursements
Balance before Distributions
Distributions to Beneficiaries
Income Balance on Hand
COMBINED BALANCE ON HAND
Listing of unpaid creditors:
Persons interest in the Distribution of Estate
Proposed Statement of Distribution
AffidaviWerification
PAGE
3
3
$724,931.50
-79, 942.00
$ 644,989.50
3 $ 1,270.06
3 10,144.00
4 77,070.71
5 3, 500.00
5 49, 045.33
5 20, 000.00 161, 030.10
$ 483,959.40
5 0.00
$ 483,959.40
5
5
6 $ 12,446.70
6 0.00
$ 12,446.70
6 0.00
$ 12,446.70
$ 496,406.10
7
7
8&9
10
Page 2
PRINCIPAL RECEIPTS
Assets listed on Inventory per copy of attached: $701
997.20
(Valued as of Date of Death) ,
ADJUSTMENTS TO INVENTORY 0.00
SUBSEQUENT RECEIPTS
3/13/2009 Sovereign Bank, joint checking account #2331044864 3
383.62
3/30/2009 Wachovia Bank, recovered checks from Robert E. Reese Landscaping ,
11,605.93
deposited in error and reimbursement for checks paid from estate account in error
4/26/2010 Robert E. Reese, repayment of loan made from estate funds 6,706.88
10/5/2010 PA Department of Revenue, refund on Inheritance Tax 85 72
10/5/2010 PA Department of Revenue, revenue refund 10.00
1/29/2011 McKesson AWP Consumer, class action settlement 100.00
3/16/2012 Adjustments at real estate settlement as follows: 1,042.15
a. County and School taxes 994 g7
b. Hampden Township, sewer 47.18
TOTAL PRINCIPAL RECEIPTS $724,931.50
PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS
GAIN LOSS
6/27/2011 Household goods, valued at date of death as $2,900.00 $ 3,058.00
and sold at public auction for $5,958.00
3/16/2012 Real estate located at 18 Eastgate Drive, Camp Hill, date of death $ 83,000.00
value $340,000.00 (appraised value) and sold for $257,000.00
TOTAL GAINS AND LOSSES $ 3,058.00 $ 83,000.00
LESS LOSS $ (79,942.00)
NET GAIN/LOSS TRANSFERRED TO SUMMARY $ (79,942.00)
DISBURSEMENTS OF PRINCIPAL
DEBTS OF DECEDENT
3/13/2009 Sovereign Bank, check written by decedent prior to death $ 100.00
3/22/2009 Service Oil Co., heating oil 498 27
3/22/2009 Pennsylvania American Water, water service 82.52
3/22/2009 PP&L, electric service 35.63
3/22/2009 Verizon, phone service 29.36
3/22/2009 Comcast Cable, cable TV service 57.26
4/3/2009 Hampden Township, sewer/refuse services 138.65
4/11/2009 AT&T, phone service 50.16
4/3/2009 Snelbaker & Brenneman, P.C., attorney fees due 150.00
prior to death
4/11/2009 West Shore Anesthesia Associates, medical services 78.60
4/11/2009 Michael Langan, Tax Collector, personal taxes 9.80
3/21/2011 Dr. Cohen, medical services 39.81 $ 1,270.06
FUNERAL EXPENSES
3/21/2009 Robert E. Reese, reimbursement for payment to $ 1,442.00
Neill Funeral Home
3/22/2009 Neill Funeral Home, funeral services 8,702.00 $ 10,144.00
LAW OFFICES
SNELBAKER SC
BRENNF_MAN, P.C.
Page 3
ADMINISTRATION EXPENSES
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SNELBAKER HC
BRENNF_MAN, P.C.
3/14/2009 Robert E. Reese, withdraw of Sovereign Bank joint account funds $ 2,183.62
3/21/2009 Robert E. Reese, reimbursement for fee paid to 10.00
H8R Block for copy of tax return
3/31/2009 Wachovia Bank, checks written on Robert Reese Landscaping 11,605.57
withdrawn from estate account in error
4/6/2009 Comcast Cable, cable TV service from April 2009 to 171.62
June 2009
4/11/2009 Verizon, phone service from April 2009 to June 2009 93.91
4/11/2009 Travelers Insurance, homeowners insurance premiums 1,511.00
paid April 2009 to May 2010
4/11/2009 Snelbaker & Brenneman, P.C. reimbursement for 350.00
real estate appraisal fee
4/13/2009 Pep Boys, battery for auto 114.43
4/14/2009 Jim Lenig Jewelry & Coins, appraisal fee 477.00
4/14/2009 H&R Block, fee for preparation of 2008 Tax Returns 190.00
4/18/2009 PP&L, electric service from April 2009 to June 2009 558.68
and from April 2011 to sale of real estate
4/30/2009 Pennsylvania American Water, water service from April 2009 616.58
to June 2009 and from April 2011 to sale of real estate
5/19/2009 Deluxe, check printing charge 120.00
6/23/2009 Mountz Jewelers, appraisal fee 695.00
6/28/2009 AT&T, phone service 39.52
7/9/2009 Wachovia Bank, service charges from June 2009 259.00
to July 2011
7/15/2009 Hampden Township Volunteer Fire Department, donation 30.00
12/14/2009 Cordier Antiques and Fine Art, commission on sale of collectibles 6,026.25
and jewelry
1/16/2010 Service Oil Company, heating oil from April 2009 to June 2009 4,299.52
and from April 2011 to sale of real estate
2/25/2010 Robert E. Reese, loan from estate funds 6,706.88
4/8/2010 Greenawalt ~ Company, P.C., preparation of final individual returns 275.00
6/7/2010 Register of Wills, filing fee for Inheritance Tax return 15.00
6/14/2010 Greenawalt & Company, P.C., preparation of taxes ending 2/28/10 600.00
12/7/2010 Stanley Steemer, carpet cleaning 152.64
2/23/2011 Harland Checks, check printing charge 54.17
3/20/2001 Register of Wills, additional probate fee 250.00
4/14/2011 Hampden Township, sewer/refuse from April 2011 to 639.98
sale of real estate
5/25/2011 Greenawalt & Company, preparation for taxes ending 2/28/11 575.00
7/19/2011 Carlisle Cement Products, material to fix patio 907.20
7/19/2011 Budding Co., material to fix patio 757.10
8/16/2011 Sam Sunday, repair wood flooring 1,775.00
3/16/2012 Real estate settlement charges as follows: 31,927.15
a. Sellers assistance 7,000.00
b. Realtors commission 15,350.00
c. Title services/insurance 155.00
d. Transfer taxes 2,570.00
e. County taxes 513.15
f. Pest treatment 1,484.00
g. Roof repair 4,570.00
h. Pest repair 285.00
6/412012 Greenawalt & Company, P.C., preparation of Fiduciary 465.00
Taxes ending 2/29/12
The following items are to be paid at distribution of the estate:
"" Snelbaker & Brenneman, P.C. reimbursement for costs advanced: 618.89
a. Cumberland Law Journal, advertise Executor's 75.00
Notice
b. Patriot-News, advertise Executor's Notice 171.89
c. Register of Wills, short certificates 12.00
d. Register of Wills, probate fees 360.00
"" Reserve for filing fees, accountant fees and other miscellaneous 2,000.00
costs associated with the administration of the Decedent's estate $ 77,070.71
Page 4
FAMILY EXEMPTION
The following items are to be paid at distribution of the estate:
""' Robert E. Reese, family exemption $3,500.00 $3,500.00
FEDERAL, STATE & LOCAL TAXES
4/11/2009 Michael Langan, Tax Collector, real estate taxes $ 7,403.82
from 4/11/09 to sale of real estate
6/3/2009 Register of Wills, Agent, estimated inheritance tax payment 40,000.00
4/8/2010 PA Department of Revenue, tax due on final individual return 392.00
4/8/2010 United States Treasury, tax due on final individual return 169.00
6/7/2010 Register of Wills, Agent, inheritance tax 1,050.51
5/25/2011 PA Department of Revenue, fiduciary tax due period ending 2/28/11 24.00
6/4/2012 PA Department of Revenue, fiduciary tax due period ending 2/29/12 6.00 $ 49,045.33
FEES AND COMMISSIONS
The following items are to be paid at distribution of the estate:
""' Snelbaker & Brenneman, P.C. attorney fees $ 20,000.00 $ 20,000.00
TOTAL DISBURSEMENTS OF PRINCIPAL $ 161,030.10
DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES
NONE $0.00 $0.00
PRINCIPAL BALANCE ON HAND
FIDUCIARY
VALUE AT ACQUISITION
6/4/2012 VALUE
Real Estate $0.00 $ 340,000.00
Personalty
Household goods 0.00 2,900.00
Coins 0.00 8,300.00
Collectibles and jewelry 0.00 24,105.00
Auto 0.00 13,500.00
Cash /Bank Accounts 522,524.99 313,192.20
""' Less items listed on page 4 & 5 to be paid upon -26,118.89
confirmation of the accounting
TOTAL PRINCIPAL BALANCE ON HAND $496,406.10 $ 701,997.20
INFORMATION SCHEDULES
PRINCIPAL INVESTMENTS MADE
NONE
CHANGES IN PRINCIPAL HOLDINGS
LAW OFFICES
SNELBAKER &
BRENNF_MAN, P.C.
NONE
Page 5
RECEIPTS OF INCOME
3/19/2009 Wachovia Bank, checking account #6233, interest $ 4.46
3/19/2009 Wachovia Bank, checking account #4017, interest 0.07
3/19/2009 Sovereign Bank, checking account #8308, interest 0.41
4/30/2009 Wachovia Bank, certificate of deposits, interest 8,661.78
5/11/2009 Sovereign Bank, certificate of deposit, interest 1,895.52
2/29/2012 Wells Fargo formerly Wachovia Bank, estate account interest from opening to 5/31/12 1,884.46
TOTAL RECEIPTS OF INCOME $ 12,446.70
DISBURSEMENTS OF INCOME
NONE $0.00
$0.00
DISBURSEMENTS OF INCOME TO BENEFICIARIES
NONE $0.00 $0.00
LAW OFFICES
SNELBAKER
BRENNF_MAN, P.C.
Page 6
UNPAID CREDITORS:
** PERSONS INTERESTED IN DISTRIBUTION OF ESTATE:
LAW OFFICES
SNELBAKER
BRENNF_MAN, P.C.
1. Robert E. Reese
5222 Trindle Road
Mechanicsburg, PA 17050
2. Estate of William J. Reese
Tammy D. Reese, Executrix
31279 Fairview Way
Painter, VA 23420-3257
3. J. Nicholas Klein, III
Mapp, Mapp & Klein, Attorneys At Law
18249 First Street
P.O. Box 130
Keller, VA 23401
Attorney for Tammy D. Reese
NONE
Page 7
PROPOSED DISTRIBUTION TO BENEFICIARIES
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SNELBAKER BC
BRENNF_MAN, P.C.
Robert E. Reese, Executor and Accountant herein, proposes to
distribute the balance of the Estate of Louise K. Reese, Deceased, to wit:
$496,406.10 in accordance with the Last Will and Testament of said Decedent
as follows:
Robert E. Reese
50% of residue as per Item Third of Will
Advance distributions as follows:
3/21/09 -Overpayment on reimbursement of 1,216.38
of jointly held funds
4/13/09 -Good Shepherd Church, donations 1,910.00
from April 2009 to May 2010
4/16/09 -Reimbursement for bank error already paid -187.96
4/18/09 -Cash distribution 9,525.83
5/5/09 -Cash distribution 8,014.23
6/7/09 -Patriot News, subscription from 1,014.00
June 2009 to January 2012
7/6/09 -Portion of utilities attributable to said beneficiary
while residing in real estate from June 2009
to April 2011 when property was listed
with a realtor
a. Comcast Cable, cable TV 603.35
b. Hampden Township, sewer/refuse 1,027.30
c. Verizon, phone service 911.42
d. PP&L, electric service 628.52
e. Pennsylvania American Water, 733.15
water/refuse service
f. AT&T, phone service 176.09
g. Service Oil Company, heating oil 6,046.44
7/7/09 -Cash distribution 22,015.50
8/8/09 -Cash distribution 6,000.00
8/11/09 -Cash distribution 14,000.00
9/14/09 -Cash distribution 5,068.03
9/30/09 -Cash distribution 10,070.00
10/27/09 -Cash distribution 1,997.60
10/31/09 -Cash distribution 10,000.00
11/7/09 -Cash distribution 10,000.00
12/6/09 -Cash distribution 2,826.86
12/6/09 -Cash distribution 5,787.66
12/14/09 -Cash distribution 8,000.00
1/15/10 -Cash distribution 8,000.00
4/26/10 -Credit for overpayment of loan from estate -0.12
6/22/11 -Cash distribution 200.00
11/3/11 -Cash distribution 1,450.00
11/22/11 -Cash distribution 4,000.00
12/20/11 -Cash distribution 1,028.25
12/20/11 -Cash distribution 1,104.03
12/21/11 -Cash distribution 1,244.00
1/20/12 -Cash distribution 3,466.82
2/20/12 -Cash distribution 2,506.31
3/20/12 -Cash distribution 3,429.46
7/26/11 -Cash distribution 6,207.67
8/26/11 -Cash distribution 2,227.06
8/30111 -Cash distribution 2,616.27
9/27/11 -Cash distribution 3,136.10
Cash
168,000.25
$ 80,202.80
$ 248,203.05
Page 8
Estate of William J. Reese
50% of residue as per Item Third of Will
Advance distributions as follows: 100,305.71
4/18/11 -Cash distribution $ 100,305.71
LAW OFFICES
SNELBAKER E(
BRENNF_MAN, P.C.
Cash
$147, 897.34
TOTAL DISTRIBUTION:
$ 248,203.05
$ 496,406.10
Page 9
AFFIDAVIT /VERIFICATION
ROBERT E. REESE, Executor under the Last Will and Testament of
LOUISE K. REESE, Deceased hereby declares under oath that he has fully and faithfully
discharged the duties of his office; that the foregoing First and Final Account is true and correct
and fully discloses all significant transactions occurring during the accounting period; that all
known claims against the Estate have been paid in full; to his knowledge, there are no claims
outstanding against the Estate; that all taxes presently due from the Estate have been paid; and
that the grant of Letters Testamentary and the first complete advertisement thereof occurred
more than four months before the filing of the foregoing First and Final Account.
This statement is made subject to penalties of 18 pa. C.S.A. Section 4904
relating to unsworn falsification to authorities.
/k ~C '~
Robert E. Reese, Executor
Dated: ~~~j/~
Subscribed and sworn to
by ROBERT E. REESE before me this
~"1 S~'`(n~day of ~ ''~JJ , 2012
Notary Public
COMMONWEALTH OF PE~NVSYLVANIA
Nobrial5eal `-
Sandra K. S-iowan, Notary Public
-~wniabut'9 ~, C1u-tbertarKl Coup
~ ~l Nw. 22, 2015
MIEM86t, PENNSYLV OF NOTARI
LAW OFFICES
SNELBAKER SC
BRENNFMAN, P.G.
Page 10