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HomeMy WebLinkAbout08-16-12IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA IN RE ESTATE OF KENNETH R. REEHER, DECEASED ORPHANS' COURT No. 2011-00402 FAMILY SETTLEMENT AGREEMENT Filed on Behalf of: ESTATE OF KENNETH R. REEHER, DECEASED Counsel of Record for this Party: PATTI COLLINS LERDA, ESQUIRE Pa. I.D. #56492 MARTIN & LERDA 2002 Noble Street Pittsburgh, PA 15218 (412) 271-6800 (412) 271-3708 (fax) n ~ ::_- r. ~ ^La :~ -~-~ - t=~ ~::::. ~~~'';.^~~ ` ~ T'?~ rri . ~. , t. ti __ •. -% C~.J - ~- l:. , ~ 1 ~ ,~ 1 U°~ FAMILY SETTLEMENT AGREEMENT THIS AGREEMENT is made by and between KELLY REEHER BROWN, Executrix ofthe Estate of Kenneth R. Reeher, Deceased, AND KELLY REEHER BROWN and MARK R. REEHER, the heirs of the Estate of Kenneth R. Reeher. In accordance with their desire that the administration of the Estate of Kenneth R. Reeher be terminated without the expense and delay of a Court Accounting, the parties hereto, in consideration of the mutual covenants hereby expressed, and intending to be legally bound hereby agree that: 1. Kenneth R. Reeher died on February 7, 201 1. 2. On March 3 1, 201 1, Kelly Reeher Brown was appointed Executrix by the Register of Wills of Cumberland County, Pennsylvania at File No. 2011 - 00402. 3. By his Last Will and Testament dated September 28, 2005, Kenneth R. Reeher appointed Kelly Reeher Brown as Executrix of his Estate. 4. Pursuant to the aforementioned Last Will and Testament, Kenneth R. Reeher devised the residuary of his estate equally to Kelly Reeher Brown and Mark R. Reeher. Both heirs survived the decedent. 5. The parties acknowledge that the Executrix has received the assets and paid the last debts and expenses of the decedent, including the inheritance taxes due. A copy of the Notice of Inheritance Tax Appraisement is attached as Exhibit "A." The parties further acknowledge that the Executrix has paid the additional tax due in the amount of $9.35. 6. The parties acknowledge that all joint assets have been distributed to the designated beneficiary. The parties acknowledge that all remaining assets ofthe estate (non joint assets} shall be distributed equally between Kelly Reeher Brown and Mark R. Reeher. Attached hereto as Exhibit "B" is an Account, along with a Proposed Distribution to the heirs. The amounts paid under this Agreement are being made with understanding that if any taxis due to any governmental entity from that Estate, the parties acknowledge they will have to return their prorate share of any future determined tax liabilities. 7. Without intending to limit the rights of remedies of the Executrix, the parties further agree to indemnify the Executrix and save the Executrix harmless against all liability, loss and expense (including, but not limited to, costs and counsel fees) which the Executrix may incur, whether due to negligence or otherwise, as a result of making the above-described distributions without a Court Audit. 8. The parties hereby forever fully release, compromise, settle and discharge any and all claims, demands, actions or causes of action, legal or equitable, absolute or contingent, vested or hereafter to accrue, which any of them may have against any other party hereto or against the Estate of Kenneth R. Reeher, or the Executrix thereof, by reason of any matter, cause or thing growing out of or relating to any property or assets of the said Estate, or growing out of or relating to the Executrix in her administration of the Estate. 9. The parties agree to execute such additional releases as the Executrix may submit to them in order to confirm discharge from any further liability to the parties in connection with the said Estate. 10. The foregoing provisions which apply to the Executrix shall apply also to any Executor who may be appointed in connection with any ancillary administration which may be required in order to complete distributions in the State of Pennsylvania. 11. This Agreement shall be binding upon all the parties, and their respective heirs, next of kin, personal representatives and assigns. IN WITNESS WHEREOF, the parties hereto have affixed their signatures to this Family Settlement Agreement waiving probate proceedings in regard to the Estate of Kenneth R. Reeher. ~j t~ ~ ~ ~/ LL EHER BROWN, Executrix Estate of Kenneth R. Reeher, Deceased RECEIVED JUN 0 8 2012 (( -.:~~_ NOTICE OF INHERITANCE TAX ~}~~~5~`~C~~~C~ `'~ APPRAiSEMENT, ALLOWANCE OR DISALLO~+lANCE DEPARTMENT OF REVENUE - BUREAU OF INDIVIBUAL TAXES DF DEDUCTIONS AND ASSESSMENT flF TAX REV-1547 EX AFP C12-lI} INHERITANCE TAX DIVISION PD BOX 280601 HARRISBi1RG PA 17128-0501 DATE 0b-05-2012 ESTATE OF KEENER KENNETI~ R DATE [}F DEATH 02-fl7-20Ii FILE NUMBER 21 1I-0402 COUNTY CUMBERLAND PATTI C~LLINS LERDR ACN 101 2002 NOBLE ST APPEAL DATE: 08-04-2012 Si+JI SSVALE PA 15218 -2104 {See reverse side under Objections) Amount Remitted MAKE CHECK PAYABLE AND REMIT PAYMENT TO: REGISTER aF WILLS 1 C~URTHC}USE SQUARE CARLISLE PA 17013 CUT ALONG THIS LINE -~ RETAIN-LOWER-PORTION-FOR-YOUR-RECORDS-f-'"'-~-- REV-1547-EX-AFP-CI2-III-NOTICE-OF INHERITANCE TAX APPRAISEMENT, ALLOWANCE DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT QF TAX ESTATE OF: KEENER- KENNETH.: RFILE IrD.:21 11-0402 ACN: 101 ----------------- OR DATE: 06-05-2012 TAX RETURN WAS: C X} ACCEPTED AS PILED C } CHANGED APPRAISED VALUE OF RETtiRN BASED ON: ORIGINAL RETURN 1. Real Estate CSchedule A} C13 .0~ '43b . 00 $ NOTE: To ensure proper credit to your account 2. Stacks and Bonds CSchedule B} C2] , 0 0 submit the upper porti 3 Closely Held Stack/Partnership interest CSchedule C} C3] ' of this form with your . 4. Mortgages/Notes Receivable CSchedule D} C4} •0 $ tax payment. 5 CashlBank Deppsits/M.isc. Personal Property. CSchedule E] C5} 19,418.87 . (, .lointly Owned. Property CSchedule F} C[,} 57,260.74 . C7] •© U 7. Transfers CSchedule G} ts} 85 t 115 . bl s. Total Assets . _ APPROV ED DEDUCTIONS AND EXEMPTIONS: ' 9. Funeral Expenses/Adm. Costs/Misc. Expenses CSchedule H] C93 ~ 3 b.3 4 ~~' 10. Debts/Mortgage Liabilities/Liens CSchedule I} C10} 1,4 0 6.24 C11] 12, 742.58 11 . Total C3eductions 72, 373.03 12. Net Value of Tax Return CL2] t13} .0 0 13_ Charitable/Governmental Bequests; Non-elected 4113 Trusts CSchedule J} 03 373 72 14. Net Value of Estate Subject to Tax c14} . , NOTE: If an assessment was issued~reviously, lines I4, I5 and/or Ib, l7, 18 and 19 will reflect fiSures that include the tata~. of ALL returns assessed to date. ASSESS MENT OF TAX: - .00 X 00 = .00 15. Amount of Line 14 at Spousal rate C15] 72 _ 7 TsI}3~ X E}45 = 3,25fi.79 lb Amount of Line 14 taxable at Lzneal/Class A rate C1b] , . 17 - Amount of Line 14 at Sibling rate C17} 00 x 12 = .00 . 18. Amount of Line 14 taxable at Collateral/Class B rate Cl8] .00 X 15 = .00 C19}= 3,25b.79 19. Principal Tax Due IMA 4[~LUi ~.~. PAYMENT DATE RECEIPT NUMBER DISCOUNT C+} INTEREST/PEN PAID C-] AMOUNT PAID 256 79 3 12-12-2011 CDQ15337 .00 . , TAX PAYMENT EXHIBIT 0 9 m V 2 d BALANCE DF UNPAID INTERESTfPENALTY AS OF 12-13-2011 TOTAL 3,256.79 BALANCE OF TAX DUE .00 INTEREST AND PEN. 9.35 TOTAL DUE 9.35 * IF PAID AFTER DATE INDICATED, SEE REVERSE IF TOTAL DUE IS REFLECTED AS A "CREDIT" CCR], YOU MAY BE BUE FOR CALCULATION OF ADDITIONAL INTEREST. A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTICiNS. ESTATE OF KENNETH R. REEHER, DECEASED ACCOUNT PRINCIPAL RECEIPTS: Non-Joint Assets: Manulife Stock - 444 Shares $4,629.37 M&T Bank Checking Account 6,414.73 M&T Money Market Account 10,004.14 Total Principal Receipts $21,048.24 PRINCIPAL EXPENDITURES: Funeral Expenses: West Shore Country Club $4,974.60 Mt. Calvary Church 150.00 Dr. Lau ~ 15 0.00 Total Funeral Expenses $5,274.60 -5,274.60 Administration Expenses: Patti Collins Lerda, Esquire (attorney fee) $1,000.00 Patriot News (obituary) 1,144.08 Register of Wills of Cumberland County (probate fee) 107.50 The Sentinel (estate advertisement) 200.16 Cumberland Journal (estate advertisement) 75.00 Register of Wills of Cumberland County (additional probate fee) 30.00 Register of Wills of Cumberland County (inner. tax filing fee) 15.00 Register of Wills of Cumberland County (inheritance tax) 3,256.79 Register of Wills of Cumberland County (inner. tax interest) 9.35 Register of Wills of Cumberland County (family settlement agree.) 20.00 Total Administration Expenses $5,857.88 -5,857.88 Miscellaneous Expenses: Bank of America (credit card) $182.18 Carlisle Regional Hospital (medical bill) 15.00 Darryl Guistwaite 5 8.00 Health Network (medical bill) 210.00 Home Instead 5 72.69 Visiting Angels (medical bill) 224.00 Patriot News 35.85 Verizon 108.52 Total Miscellaneous Expenses $1,406.24 -1,406.24 BALANCE FOR DISTRIBUTION $8,509.52 DISTRIBUTION: Distribution in Kind to Joan Reeher (1998 Lincoln Town Car -Value $3,000.00) Kelly Reeher Brown 1/2 Residuary $4,254.76 Mark R. Reeher 1/2 Residuary $4,254.76 EXHIBIT 0 0 m s Z VERIFICATION I have read the foregoing FAMILY SETTLEMENT AGREEMENT for the ESTATE OF KENNETH R. REEHER. I fully understand the terms thereof. I agree to accept the terms of the FAMILY SETTLEMENT AGREEMENT. I have signed my name below. I understand that false statements herein are made subject to the penalties of 18 Pa.C.S. Sec. 4904 relating to unsworn falsification to authorities. ~ ~ Z~ Date VERIFICATION I have read the foregoing FAMILY SETTLEMENT AGREEMENT for the ESTATE OF KENNETH R. REEHER. I fully understand the terms thereof. I agree to accept the terms of the FAMILY SETTLEMENT AGREEMENT. I have signed my name below. I understand that false statements herein are made subject to the penalties of 18 Pa.C.S. Sec. 4904 relating to unsworn falsification to authorities. 2~ i ~ Date ~~ 2 ~~~ MARK R. REEHER