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HomeMy WebLinkAbout08-21-12i~1~1 l~'_~1i..~ ! ~tv`? i~E.?~ 2 t ~P4 9~ ~~ FAMILY SETTLEMENT AGREEMENT _~.: IN THE ESTATE OF BETTY M. BEAGLE DECEASE ~t;~~~~~=~ 5 ~:~~J~.~~sT ~ A~?P~~t~LEJVD CO., PA AGREEMENT executed this ~ day of Au~US t~ 2012, by and between JOYCE A. PAULUS, Executrix of the Estate of BETTYM. BEAGLE, deceased, and JANICE E. ADAMS, JASON LEHMAN, EVAN J. BEAGLE and WESLEY C. BEAGLE, heirs and beneficiaries of the Estate of BETTYM. BEAGLE. WHEREAS, BETTY M. BEAGLE., late of North Middleton Township, Cumberland County, Pennsylvania, died on June 9, 2011, having left a Last Will and Testament dated December 15, 2004. WHEREAS, on June 27, 2011, the Register of Wills in and for the County of Cumberland, Commonwealth of Pennsylvania, did constitute and appoint JOYCE A. PAULUS, as Executrix of the Estate of BETTY M. BEAGLE, in Estate Number 21-11-0721 upon the probating of the aforesaid Last Will and Testament, and WHEREAS, the Executrix has proceeded with the administration of said Estate consisting of assets in the amount of $192,186.83 plus adjustments, plus non-probate assets of $15,519.99, less disbursements in the amount of $38,084.70, and less distributions of non- probate and in kind distributions in the amount of $12,753.85, leaving a principal balance on hand of $156,868.23, as set forth in the First and Final Account, a true and correct copy is attached hereto and made part hereof as Exhibit "A", and WHEREAS, the only parties in interest in said Estate are the above-named parties, and WHEREAS, said parties in interest desire that the Executrix shall not be required to file an Account with the Orphan's Court of Cumberland County, Pennsylvania, and that the net estate of the decedent shall be distributed without the necessity of filing a formal Account to avoid the expense, delay and publicity of a formal accounting, but should instead be distributed in accordance with the Executrix' Proposed Schedule of Distribution, a true and correct copy of which is attached hereto and made a part hereof as Exhibit "B". n ~ . ~~ NOW THEREFORE, in consideration of the mutual promises, covenants and agreements recited herein, the above-named heirs and beneficiaries of the Estate of BETTY M. BEAGLE do hereby mutually agree as follows: 1. The parties hereto, and each of them, agree and acknowledge that they have fully and carefully examined the First and Final Account of JOYCE A. PAULUS, Executrix for the Estate of BETTY M. BEAGLE, deceased, and Proposed Schedule of Distribution relating thereto, and find them to be true and correct, and acceptable to the parties hereto and each of them, and further that each of them has received a copy of this Family Settlement and Final Release and of said Account and Proposed Schedule of Distribution. 2. The parties hereto hereby agree that in order to avoid the expense, delay and publicity involved in the filing of a formal Account and Schedule of Distribution, no accounting to the Court is necessary and we do hereby agree that we do consent to distribution being made without the filing of an Account and Schedule of Distribution, 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 of Franklin County, Pennsylvania. 3. The parties hereby remise, release, quitclaim and forever discharge the Estate of BETTY M. BEAGLE, and JOYCE A. PAULUS, Executrix, her heirs, Executors, administrators and assigns, from all manner of acts, suits, claims, accountings, debts and demands whatsoever which we or any of us or our legal representatives or assigns may at any time hereafter have against said Executrix, estate, or assets thereof, touching or concerning the Estate of the Decedent. 4. The parties hereto covenant and agree that they will contribute their share of the Estate to satisfy all claims, debts, demands, suits or cause of action which may be successfully brought against the Estate or the Executrix after the execution of this Family Settlement and Final Release. 5. The parties hereto hereby agree that they will at all times in the future and wherever necessary, appropriate or convenient, made, execute and deliver to said Executrix, and/or to the other party or persons, any and all instruments, documents, conveyances, deeds, releases or other instruments of any kind necessary or convenient to carry out the intention of this Family Settlement and Final Release. 6. This Family Settlement and Final Release constitutes the entire understanding among the parties hereto, and each of them acknowledges that no representations or statements of any kind, written or oral, have been made to them or any of them prior hereto by the Executrix or any other person or party upon her behalf. 7. This Family Settlement and Final Release shall inure to the benefit and shall bind the parties hereto, and each of them, their heirs, executors, administrators, successors and assigns. 8. This Family Settlement and Final Release shall be governed by the laws of the Commonwealth of Pennsylvania. IN WITNESS WHEREOF, the parties hereto have hereunto set their respective hands and seals the day and year first above written. WIT/'N/ESSETH: ~~ ~~ ,. at .~ Y A. PA UL US, Executrix ~jla !~~ Date ~ ~ ~~ ~~ D e g ~0., .~a_ E. ADAMS filly as heir and beneficiary as heir and beneficiary ~~ ~~,,r~ g- ~~ -1 ~ G-~-- Date EVAN J. BEAGLE Individually as heir and beneficiary g /~ /2 Date W Y C. BEAGLE Individually as heir and beneficiary FIRST AND FINAL ACCOUNT OF JOYCE A. PAULUS, EXECUTRIX OF THE ESTATE OF BETTY M. BEAGLE, Deceased Date of Death: June 9, 2011 Date of Executrix' Appointment June 27, 2011 Accounting for the Period of June 27, 2011 to August ~_, 2012 Purpose of Account: JOYCE A. PAULUS, Executrix of the Estate of BETTY M. BEAGLE, offers this Account to acquaint interested parties with the transactions that have occurred during her administration of the Estate for the accounting period indicated above. The Account also indicates the proposed distribution of the Estate. It is important that the Account be carefully examined. Request for additional information or questions or objections can be discussed with: Bradley L. Griffie, Esquire GRIFFIE & ASSOCIATES 200 North Hanover Street Carlisle, PA 17013 (717) 243-5551 100 Lincoln Way East, Suite D Chambersburg, PA 17201 (717) 267-1350 (800) 347-5552 SUMMARY OF ACCOUNT Principal -Total Assets (including non-probate assets) Less Disbursements of Principal Non-probate assets previously distributed In Kind Disbursement to Heirs, jointly Interim Disbursement of Heirs TOTAL Cash Available for Distribution $207,706.78 (-) $38,084.70 (-) $12,523.85 (-) $ 230.00 (-) $ 0.00 $156,868.23 Exhibit "A" RECEIPTS OF PRINCIPAL REAL ESTATE 1. Single Family Residence ................................$144,000.00 84 Partridge Circle Carlisle, PA 17013 SUBTOTAL ...........................................................$144,000.00 STOCKS and BONDS NONE CASH and BANK ACCOUNTS 1. Citizens Investment Services ............................$47,240.28 Account No. XXXXX4674 SUBTOTAL ............................................................ $47,240.28 PERSONAL PROPERTY 1. Personal Property (auction) ...............................$2,109.50 2. Personal Property (appraised) ............................. 230.00 SUBTOTAL .................................................... $2,339.50 ADDITIONAL RECEIPTS 1. National Financial Services LLC - Refund .................$ 43.12 2. Comcast -Refund ............................................. 10.34 3. Veterans Affairs contribution ................................ 100.00 4. State Farm Insurance -Refund .............................. 43.09 5. 2010 Property Tax Rebate ................................... 750.00 SUBTOTAL .............................................................. $ 946.55 TOTAL PRINCIPAL of probate Estate before adjustments ...................$192,186.83 JOINT ACCOUNTS 1. Citizens Bank Checking Account .....................$ 1,687.38 Account No. XXXX~~~6032 (Total value $3,37475) ANNUITY Security Benefit Non-Qualified Annuity ..............$12,523.85 SUBTOTAL .............................................................$14,211.23 GAINS AND LOSSES ON SALES AND OTHER DISTRIBUTIONS GAINS: Tax Proration credit at settlement .......................$1,308.72 LOSSES: NONE Total principal of Estate with all adjustments ........................................$210,046.28 DISBURSEMENTS OF PRINCIPAL Orrstown Bank Account No. DEBTS OF DECEDENT 1. PPL Electric Utilities .......................................$ 58.01 2. Thornwald Home Personal Care Facility ................ 934.61 3. Millenium Pharmacy ....................................... 334.41 4. UGI Gas Service ............................................ 68.36 5. North Middleton Authority (Water & Sewer).......... 82.30 6. CenturyLink ................................................. 39.46 7. Middleton Estate Homeowners Assn. Fee ............... 55.00 8. Home Instead (medical) ................................... $ 201.26 SUBTOTAL :................................................$1,773.41 FUNERAL EXPENSES Aver Cremation Services ..................................... $ 19.79 SUBTOTAL :..............................................$ 19.79 ADMINISTRATION EXPENSES 1. Attorney's fees to GRIFFIE & ASSOCIATES ............. $ 6,000.00 2. Probate Fees .................................................... 350.50 3. Advertising -The Sentinel .................................... 227.45 4. Advertising -Cumberland Law Journal ...................... 75.00 5. Citizens Bank -bank fees .................................... 22.00 6. Auction fees and expenses of sale ........................... 828.32 7. State Farm Insurance (Homeowners) ....................... 200.55 8. UGI Gas Service ............................................... 86.93 9. Homeowners Association fee ................................ 115.50 10. PPL Electric Utilities .......................................... 142.49 11. Auctioneer appraisal fee ...................................... 45.00 12. Real Fstate Settlement fees ................................... 18,202.15 Home Warranty $ 574.00 Water & Sewer final billing 156.15 Home Owners Assn. dues 176.00 Home Repairs (Roof caulking) 50.00 Realtors" Commission 8,391.00 Sellers" Assistance to Buyer 7,400.00 Notary 10.00 Real Estate Transfer Tax 1,440.00 Tax Certification Fee 5.00 13. Robin Sollenberger Tax Collector ............................ 1,617.27 (Real Estate Taxes) 14. Cohick &Associates ............................................ 240.00 SUBTOTAL: $28,153.16 TAXES Pennsylvania Inheritance Tax $8,138.34 Less Discount (-)$ 0.00 Plus Penalties and Interest ............................... $ 0.00 SUBTOTAL: $8,138.34 TOTAL DISBURSEMENTS OF PRINCIPAL $38,084.70 NON-PROBATE ASSETS PREVIOUSLY DISTRIBUTED 1. Security Benefit Non-Qualified Annuity ..................$12,523.85 Account No. XXXX~~4602 (Distributed to named beneficiaries) SUBTOTAL: INTERIM DISBURSEMENTS TO BENEFICIARIES None IN KIND DISTRIBUTIONS 1. Personal property to Janice Adams ........................$ 230.00 $12,523.84 SUBTOTAL: $ 230.00 TOTAL DISBURSEMENT AND DISTRIBUTIONS TOTAL PRINCIPAL $207,706.78 Total Disbursements and Distributions (-)$ 50,838.55 Net available estate assets $156,868.23 PROPOSED SCHEDULE OF DISTRIBUTION Assets for Distribution Cash on Hand ....................................................$156,868.23 In kind distributions ............................................. 230.00 TOTAL: $157,098.23 Net Cash on Hand Distributed as Follows: Janice E. Adams (including in kind distribution) .................$39,274.56 Jason Lehman ........................................................................$39,274.56 Evan J. Slagle ........................................................................$39,274.56 Wesley C. Slagle ...................................................................$39,274.56 TOTAL CASH DISBURSEMENT: $157,098.23 EXHIBIT "B"