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HomeMy WebLinkAbout08-14-12 (2)..} ^i FAMILY SETTLEMENT AGREEMENT AND FINAL R ASE ~ ~~ `~-~, i_. In the estate of ~~=~` G~ `-~, ~~' !.. BETTY O. VERDIER ~~ ~ - ~ , _... a ~.. :~ THIS FAMILY SETTLEMENT AGREEMENT AND FINAL RELEA~s mad~.._this ~- r; ..,o ---5 .. O y„ ~ ~: rs ~n ~, day of 2012, by and among Daniel C. Ve'~lier, Deborah J. Verdier and Douglas L. Verdier (herein jointly referred to as "Beneficiaries") and Daniel C. Verdier, Administrator of the Estate of Betty O. Verdier, deceased (hereinafter referred to as "Administrator"). In accordance with the desire that the administration of the Estate of Betty O. Verdier be terminated without the expense and delay of a court accounting, the parties hereto, in consideration of the mutual covenants herein expressed and .intending to be legally bound, hereby agree that: WHEREAS: Betty O. Verdier died December 28, 2008, intestate; and WHEREAS: Letters of Administration of the Estate of Betty O. Verdier were duly issued by the Register of Wills of Cumberland County, Pennsylvania, on June 2, 2011, to Administrator, a copy of which is attached hereto, labeled Exhibit "A" and made a part hereof; and WHEREAS: Administrator has gathered the assets, consisting of personal property, of the Estate of Betty O. Verdier. The Accounting of the Estate by Administrator, by way of the Inheritance Tax Returns, consisting of an original return which is attached hereto and made part hereof as Exhibit "B", constitutes the assets gathered, the debts paid, the disbursements made, and the distribution to all respective parties hereto; and WHEREAS: The balance/remainder of the Estate property has been distributed by the Administrators in accordance with this Family Settlement Agreement, .and as stated in the Statement of Account (Exhibit "C"); and ~~ WHEREAS: The following beneficiaries have an interest in the net Estate of Betty O. Verdier: Daniel C. Verdier, Son of Decedent: One third of Net Estate Deborah J. Verdier, Daughter of Decedent: One third of Net Estate Douglas L. Verdier, Son of Decedent:. One third of Net Estate NOW THEREFORE, Beneficiaries, do hereby acknowledge that each has been notified by Administrator in his capacity as Administrator of the Estate of Betty O. Verdier, of full satisfaction and payment of all sum or sums of money, legacies, bequests, and devises as given, devised and bequeathed to us pursuant to Pennsylvania Code, which amounts each does acknowledge; and which amounts, are in the amounts set opposite the Distributions to Each Beneficiary in the Inheritance Tax, and to be distributed as attached hereto and made part hereof after the agreed upon distributions as per the copy of the will. Advice of Counsel We, Beneficiaries, hereby acknowledge that this Family Settlement Agreement and Final Release contains provisions which may waive legal rights and assume legal responsibilities and encumbrances, or has other legal consequences, and that We have been informed to seek the advice of counsel before signing said Agreement. The above named hereby acknowledges that each has freely chosen to sign this Family Settlement Agreement and Final Release without the consent or advise of legal counsel. That each was given the opportunity to seek legal counsel to review this Agreement prior to signing, but choose instead to sign without such counsel. The above named acknowledges that each is of sound mind and disposition. We have read and understand the nature and importance of this Agreement, that we consider the provisions of this Agreement to be fair, just and reasonable, that we enter into it freely and voluntarily. Agreement to waive filing of formal account We, beneficiaries, hereby stipulate that in order 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 hereby agree that we consent to distribution being made without the filing of an account and schedule of distribution, with the same to be with the same force and effect as if they had been filed and confirmed by the Orphan's Court Division of the Court of Common Pleas, Cumberland County, Pennsylvania. Waiver of Liability We, Beneficiaries, hereby remise, release, quit-claim and forever discharge Administrator, in his capacity as Administrator of the Estate of Betty O. Verdier, his heirs, executors, and administrators and assigns, and agents, of and from the said Estate and from all actions, suits, contests, payments, accounts, reckonings, claims and demands whatsoever for, or by reason thereof, or for any other use, matter, cause or thing whatsoever touching upon the Estate. Assumption of Liability We, Beneficiaries, FURTHER HEREBY COVENANT AND AGREE THAT, SHOULD ANY LIABILITY COME DUE TO THE ESTATE OF THE SAID DECEDENT AFTER THE SIGNING OF THIS AGREEMENT, WE, AS BENEFICIARIES UNDER SAID WILL, SHALL CONTRIBUTE TO THE ESTATE IN ORDER TO SATISFY ANY AND ALL CLAIMS, DEMANDS, SUITS OR CAUSES OF ACTION WHICH MAY BE SUCCESSFULLY PROSECUTED AGAINST THE SAID ESTATE OR THE AFORESAID ADMINISTRATORS OR AGENTS OF THE ESTATE, AFTER THE SIGNING, SEALING AND DELIVERY OF THIS FAMILY SETTLEMENT AGREEMENT AND FINAL RELEASE. SIGNATURES IN WITNESS WHEREOF, the parties to this agreement, intending to be legally bound, by have set their hands the day and year first above written. ~~ c~ ~ ~_._ . ~ ~ ~.,~ .- ., t' ~ ....~ . a~ `,....... " ,..... Daniel C. Verdier, Son of Decedent Deborah J. Verdier, Daughter of Decedent Douglas L. Verdier, Son of Decedent Daniel C. Verdier, Administrator ~~ ,; ~ v 1~ Z `~ ~ ~-- Date Date Date Date AFORESAID ADMINISTRATORS OR AGENTS OF THE ESTATE, AFTER THE SIGNING, SEALING AND DELIVERY OF THIS FAMILY SETTLEMENT AGREEMENT AND FINAL RELEASE. SIGNATURES TN WITNESS WHEREOF, the parties to this agreement, intending to be legally bound, hereby have set their hands the day and year first above written. Daniel C. Verdier, Son of Decedent t ~~~ Deborah J. Verdier, ghter of Decedent Douglas L. Verdier, Son of Decedent Daniel C. Verdier, Administrator Date ~~I~ ~~~~ Date Date Date AFt7RESAI.D ADMINISTRATQRS t;IR AGENTS C.IF THE ESTATE, AFTER THE SIGNING, SEALING AND DELIVERY C?F THIS FAMILY SETTLEMENT AGREEMENT AND FINAL RELEASE. SIt=NATURES IN WITNESS WI-IERE(~F, the parties to this agreement, intending to be legally bound, hereby have set their hands the day and year fzrst above written. Daniel. C. Verdier, Son of Decedent Deborah J. Verdier, Daughter of Decedent .p t fl ~ ~~! Doug erdier, Son of Decedent .__._ Daniel C. Verdier, Administrator Date Date Date Date ACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANIA ~ ,/ R A._1 COUNTY OF I ~ C~, Vl/" I~.-~~1'~~ - ,r ~ `~ On this the ~ ~ of ~ `- ~ 2012, before me, the undersigned officer, personally appeared Daniel Verdier, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within Agreement and acknowledged that he executed the same for the purposes therein contained. J~ti ~ Notary Public My commission expires: ` p E M;-~ f NA R t.. C~~/ , ~fYC~fvih`1581C!~ E~F1R~~ ~L~. 2c3, 2~1T ACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANIA SS county of ~L~zp~: ~ On this the / ~ of ~~- ~ ~ 2012, before me, the undersigned officer, personally appeared Deborah J. Verdier, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within Agreement and acknowledged that she executed the same for the purposes therein contained. My comnvssion expires: ,~~.~ ~.. ~' ~ ~ ~ ~l h i .~ ~ ,~_. ~Cc_ ~ . otary Public NOTARIAL SEAL JEANETTE K CEPIETZ Notary Public SUSQUEHANNA TWP., DAUPHIN COUNTY My Commission Expires Jan 27, 2014 ACKN{7WLE~J-GMENT COMMONWEALTH OF I~'ENNSYt.VANI:A SS COUNTY OF On this the __......~~, of 1~.U~ _....... • ~", 2Q1.2, before me, the undexsi ed officer, ersonalt a eaxed I7uu as . Verdier, known to me or satisfactoril ~ P Y PP ~ ~ Y proven} to be the person whose name is subscribed to the within Agreement and acknowledged th~ ,A ' ~ r ses therein contained. Notary Public ' iJlinnesota 13 ~~'~`° M Commission Exp-res January 31, 20 -,. ;. G ~. Notary 1? ~ 11C0 .._____.____ .. ..~ My commission expires: ~ ~ ~~~. i ~ ~ U EXHIBIT "A" COMMONWEALTH OF PENNSYLVA"" ^ COUNTY OF CUMBERLAND estate of BETTY O VERDIER I, SHORT CERTIFICATE GL ENDA FA RNER S TRA SBA UGH Register for the Probate of Wills and Granting Letters of Administration in and for CUMBERLAND County, do hereby certify that on the 2nd day of June, Two Thousand and Eleven, Letters of ADMINISTRATION in common form were granted by the Register of said County, on the l a t e o f UPPER A L L EN TOWNSHIP (First, Middle, Last) in said county, deceased, to DANIEL C VERDIER (First, Middle, Lastl and that same has not since been revoked. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed the seal of said office a t CARLISLE, PENNSYLVANIA, this 2nd day of June Two Thousand and .Eleven. Fi 1 e No . 20 ~ ~ - 00633 PA File No. 2~- ~ ~- 0633 Date of Death 72/28/2008 S . S . # ~ 73-03-2 ~ 83 ~ > 9 ~ ~' ~~: Register Of ,ills ~ ., ~,. ~~""', i~1 5,`~ ~ ~ / ~ ~ ~ y~ ~° `~!~ 1 ~, NOT VALID WITHOUT ORIGINAL SIGNATURE AND IMPRESSED SEAL EXHIBIT "B" ` Z5056y01,05 ® -;~ -c,-" ; ~=~ ~'~ OFFICIAL USE ONLY PP, Department of Revenue pennsyt~~ania County Cote Year File Number Bureau of Individual Taxes '~~~~~~~~" ~,„k.~~. ,- PO BOX z8o6oi - INH~RI TAI"'aCE T,~ RETi1Rl~! ~.,, ~.. Harrisburg. PA 1128-0601 RBSI®ENT I~E~EDEitlT ~ ~ ~>' ENTER DECEDENT INFORMATION BELOVt/ Social Security Number Date of Death MPv1DDYYYY Date of Birth N1h,4DD'fYYY 173-03-2183 12/28/2008 11 /17/1918 Decedent's Last Name Suffix Decedent's First Name MI Verdier Betty p (Ef Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name N11 Spouse's Social Security Number THIS RETURN IUIUST BE FILED IN 13UPLl~ATE ~lVITH THE FELL IN APPROPRIATE OVALS BELOW t~3 1. Original Return O 2. Supplemental Return O 3. Remainder Return {Date of Death Prior to 12-13-82} O 4. Limited Estate O 4a. Future Interest Compromise (date of O 5. Federal Estate Tax Return Required death after 12-12-82) O 6. Decedent Died Testate O 7. Decedent Maintained a Living Trust 8. Total Number of Safe Deposit Boxes (Attach Copy of Will) (Attach Copy of Trust.) O 9. Litigation Proceeds Received O 10. Spousal Poverty Gredit (Date of Death. O 11. Election to Tax under Sec. 9113(A} Between 12-31-91 and 1-1-95) (Attach Schedule O) CGRRESPONDENT - THIS SECTION MUST SE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED T0: Name Daytime Telephone Number Bruce D. Foreman (717) 236-9391 First Line of Address 112 Market Street Second Line of Address Sixth Floor City or Post Office State ZIP Code Harrisburg PA 17101 Correspondent's a-mail address: brUCe@ffClaW.net REGISTER OFICLS U5E ONLY _,, "a -,--~ -' :. s: .- r' r-~ T .. 1. ~ . _, ~. __ . _ _ ~l ~~ . ~" ~_7 - ...-I .. r:} DATE FILED Under penalti~of,Perjury, I declare that I have examined this return, including accompanying schedules and sta±ements, and to the best of my knowledge and belief, it is..true, cortecf ar~d''comp~t,e.+1^1e~ciaration of preparer other than the personal representative is based on all information of which preparer has any knowledge. i , ~ SIGNATURE OF'AERSON RESR~ISI~LE~FQfR FILING RETURN ~ DATE l ~ `3 //' F !e A ••`'- \ y~.~,- ._,~_ _ WJj~~~ ~ ~w+i~~IE~/• ~~PC D'S/•~a'~6~~~.°„u ~~t ~.- 6I /. ~i ~.. a~l~{~ a I '` ~ ADDRESS - 20 Twin Fawn Lake, Pound Ridge, NY 10576 SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE DATE ADDP,ESS 112 Market Street, 6th Floor, Harrisburg, PA 17101 ~~!?=s~Sii USE ®r'~iG9~3AL. F® ~tE C3E'~t.`~ i'__ I~TI ~~-~'a ~j °~ Side 1 1,50561,01,05 1,5056 01,05 J ?,57561,~~05 REV-1500 EX (FI) Decedent's Name: Betty 0. Verdier Decedent's Social Security Number 173-03-2183 RECAPlTULAT tON 1. Real Estate (Schedule A) ........................................... .. 1. 2 49,050.36 2. ............. Stocks and Bonds {Schedule B) ............. .. . 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ... .. 3. 4. g g { ) ......................... Mort a es and Notes Receivable Schedule D 4. . 5. Cash, Bank Deposits and Miscellaneous Personal Property (Schedule E)..... .. 5. 71,856.36 6. Jointly Owned Property {Schedule F) C~ Separate Billing Requested ..... .. 5. 7. Inter-Vivos Transfers & Miscellaneous Nan-Probate Property (Schedule G) O Separate Billing Requested...... .. 7. 8. ( 9 ) ........................... Total Gross Assets total Lines 1 throu h 7 .. 8. 120,906.72 9. Funeral Expenses and Administrative Costs (Schedule H) ........ ........... 9. 9,487.16 10. Debts of Decedent, Mortgage Liabilities and Liens (Schedule I) ..... .......... 10. 30,133.07 11. To#al Deductions (total Lines 9 and 10) ...................... ........... 11. 39,620.23 12. Net Value of Esta#e (Line 8 minus Line 11} .................... .......... 12. 81,286.49 13. Charitable and Governmental BequestslSec 9113 Trusts far which an election to tax has not been made (Schedule J) .............. .......... 13. 14. Net Value Subject to Tax {Line 12 minus Line 13} .............. .......... 14. 81,286.49 TAX CALCULATION -SEE ifU5TRUC T IONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers under Sec. 9116 (a)(1.2) X .0_ 15. 16. Amount of Line 14 taxable 85 086 7 at lineal rate X .0 45 . , 16. 17. Amount of Line 14 taxable at sibling rate X .12 17. 18. Amount of Line 14 taxable at collateral rate X .15 18. 7,086.85 19. TAX DUE .................................. .. ............... ......19. 20. FILL IN THE OVAL !F YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT O Side 2 1,50561,005 ~ 5056I,D205 REV-1560 EX (FI) Rage 3 ~e~~~e~s~~'s C®m~l~~e At~~ress: File "lumber DECEDENT'S NAiriE Betty O. Verdier STREET ADDRESS 325 Wesley Drive CITY STATE ZIP Mechanicsburg PA 17055 ~'~~ Pay~~r~~s a~ad ~r~~dlts: 1. Tax Due (Page 2, Line 19} 2. Credits'Payments A. Prior Payments B. Discount 3. Interest Total Credits (A+ B) (2) (3} 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVE9•tPAY~AEiVT. Fiil in oval on Page 2, Line 20 to request a refund. (4} 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAK DUE. (5) Make check payable to: REGISTER OF WILLS, AGENT. PLEASE ANS1l4lER THE FOLL~WII~G QUESTI®NS ~~ PLACING A~J "~C" ICI 1"HE APPRQPRIATE BL®CKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred .......................................................................................... ^ ^ b. retain the right to designate who shall use the property transferred or its income ............................................ ^ ^ c. retain a reversionary interest .............................................................................................................................. . ^ ^ ^ ^ ... tl. receive the promise for life of either payments, benefits or care? .................................................................. 2. If death occurred after Dec, 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration? .............................................................................................................. ^ ^ 3. Did decedent own an "in trust for" or payable-upon-death bank account or security at his or her death? .............. ^ ^ 4. Did decedent own an individual retirement account, annuity or other non-probate property, which contains a beneficiary designation? ........................................................................................................................ ^ ^ IF THE ANSV~ER TO ANY OF THE AEOVE QUESTIONS iS YES, YOI~ MUST GOI~IPLETE SCHEDULE G AND FILE IT AS P;~RT ~F THE RETURN. For dates of death on or after July 1, 1994, and before Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3 percent [72 P.S. §9116 (a) (1.1) (i)]. For dates of death on or after Jan. 1: 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0 percent [72 P.S. §9i1G (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements far disclosure of assets and filing a tax return are still applicable even if the surviving spouse is the only beneficiary. For dates of death on or after July 1, 2000: The tax rate imposed on the net value of transfers from a deceased child 21 years of age or younger at death to or for the use of a natural parent, an adoptive parent or a stepparent of the child is 0 percent [72 P.S. ~9116(a)(1.2)]. ® The tax rate imposed on the net value of transfers to or for the use of the decedent's I~neal beneficiaries is 4.5 percent, except as noted in [72 P.S. §9116(x)(1)]. ~ The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12 percent [72 P.S. §9116(x)(1.3)]. Asibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. REV-1503 EX* (6-98) ~~ COfviPvlONwEALTH CF PENNSYL'vANIA ~~~ ~~~ INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Betty 0. Verdier 2011-00633 en n~~nP~t~~ inintly-owned with right of survivorship must be disclosed on Schedule F. (If more space is needed, insert additional sheets or [ne same s«e~ REV-i5o8 EX+ (lI-io) DEFi,RT(~ENTOERE'~iEiVUE ~,~~~~ ~r~iira ~~~~~1~~#.~' ~~.~~• INNERIT~1iVCE TvX RETUP.fJ ~'~>~a~~~,~~.. ~~~~~$~ ~ RESICENT DECEDENT ESTATE t?F: FILE NtJM&3ErZ: Betty O. Verdier 2011-00633 Include the proceeds cf litigation and the date the proceeds ~Nere received by the estate. en nrnnort~i ~nintly nwrsPd with right of survivorship must b8 disclosed 0!1 Schedule F. If more space is needed, use additional sheets or paper or the same sire. CERnRrME^JT OF RE'JE^dUE INHERI TaracE Tax RE T uRrJ RESIDENT DECEDENT ~~ ESTATE fl F RPtty C~ Verd FILis NU~1BE~ 2011-00633 Decedent's debts must be reported on Schedule I. ITEM AMOUNT NUNI6ER DESCRIPTION A. FUNERAL EXPENSES: 1' Jesse H. Giegle Funeral Home 7,014.22 B. ADMINISTRATIVE COSTS: 1, Personal Representative Commissions; Name(s) of Personal Representative(s) Street Address __________.__ City _ Year(s) Commission Paid: _. ___________.__._ State ZIP 2,000.00 2. Attorney Fees: 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation,) ri-,t,,,~.,t 4 5 6 8 Street Address _ City _ State - Relationship of Claimant to Decedent ___ Probate Fees: Accountant Fees: Tax Return Preparer Fees: Advertising Fee Cumberland Law Journal Advertising Fee Patriot-News 193.50 75.00 204.44 9,487.16 TOTAL (A,Iso enter on Line 9, Recapitulation; $ If more space is needed, use additional sheets or' paper of the same size ZIP t r' DE°.4R?'fFil? GF R.E~i~~'JUE RESIDE:^dT DEi,~CEf~IT ~.~ ~STA i r © F Rot+~~ (l \/arrl FILE 1iJi~~~R 2011-00633 ____, _ . - , . , ,- - L,-- ~--^~^^~ __:^' ~~ ~i~~fh +~,~+ rarr~ain~ci une~aid at the date of death, including unreimbursed medical expenses. If fTl6iZ S~c;.~ IS (122r2C1, If15~i1 auwuunai ~iiccw v~ u~.. ~~,~~~ ~~_~.