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Home My WebLink About09-26-12 (2)IN THE ORPHANS' COURT DIVISION OF THE COURT OF COMMON PLEAS OF ~; CUMBERLAND COUNTY, PENNSYLVANIA , ~ rn ;-T; n~ ~~ ESTATE OF WILBUR R. W. HUBLEY, DECEASED ~~. r No. 2011-00485 . cn ~ ~ 7 ~-. t~_, ~ ~ ~ _, ,__~ APPROVAL OF ACCOUNT, WAIVER, RECEIPT, - ~,- - == n RELEASE AND AGREEMENT OF INDEMNITY ~ -~ rv ~~ ~ rv The circumstances leading up to the execution of this instrument are as follows: 1. Wilbur R. W. Hubley died on January 9, 2011, leaving a Will dated February 2, 2006, naming Jo Ann Shepp Bums and Lou Ann Shepp Houck as Co-Executrices. 2. Letters Testamentary were granted to Jo Ann Shepp Burns and Lou Ann Shepp Houck by the Register of Wills of Cumberland County on Apri129, 2011. 3. It is the desire of the Wilbur R. W. Hubley heirs that the Estate be distributed without the formality of a court proceeding in order to save the expense, publicity, and delay incident to such court proceeding, and the Co-Executrices are willing to make such distribution upon the execution of this instrument. 4. An account of the administration of the Estate of Wilbur R. W. Hubley has been prepared by the Co-Executrices. A copy is attached hereto as Exhibit A. 5. In consideration of the foregoing, each of the undersigned hereby: A. Represents and warrants that he has read and understands this instrument and that the facts set forth above are true and correct to the best of his knowledge, information and belief; -1- B. Declares that he has examined the attached account of the administration of the Estate and the attached schedule of distribution; that he finds them to be true and correct in all particulars; that he accepts and approves them as if they had been duly filed, audited, adjudicated and confirmed absolutely by the Orphans' Court Division of the Court of Common Pleas of Cumberland County, and as if the amounts shown as distributable had been duly awarded to him; C. Waives the filing and auditing of the account of the administration of the Estate in the Orphans' Court Division of the Court of Common Pleas of Cumberland County, and agrees that the Orphans' Court Division of the Court of Common Pleas of Cumberland County may by its decree confirm the account and approve the schedule of distribution; D. Requests the Co-Executrices to make distribution of the principal and income in accordance with the schedule of distribution, and effective upon delivery to him of the amounts shown as respectively distributable, acknowledges receipt of such property; E. Agrees to refund to the Co-Executrices any amount which may at any time be determined to have been an erroneous distribution to him, regardless of the cause of such erroneous distribution, even if attributable to negligence, and agrees that any period for the limitation of actions for the collection of any erroneous distribution shall commence only at such time as the Co-Executrices shall have obtained actual knowledge of such erroneous distribution and that in no event shall the period for collection of any erroneous distribution be less than two years after the actual discovery thereof; F. Absolutely and irrevocably remises, releases, quitclaims and forever discharges Jo Ann Shepp Burns and Lou Ann Shepp Houck, individually and in their capacity -2- as Co-Executrices, from any and all actions, suits, payments, accounts, reckonings, liabilities, claims and demands relating in any way to the administration of the Wilbur R. W. Hubley Estate; G. Agrees to indemnify and hold harmless, to the extent of the funds received by him hereunder, Jo Ann Shepp Burns and Lou Ann Shepp Houck, individually and in their capacity as Co-Executrices, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which they may suffer or to which they may be subjected by reason of their administration of the Estate, the settlement of their Co- Executrices' account and the distribution of the assets of the Estate without having the formal approval of the Orphans' Court Division of the Court of Common Pleas of Cumberland County, including, but not limited to, any liability for any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with interest and costs incidental thereto, relating in any way to the Estate; and H. Declares it to be his intention that this instrument, consisting of three pages, shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him and upon his heirs, executors, administrators and assigns. Executed on: ~ 9/Z ~ ~ ~ ~-,~'' ~ (Seal) DATE MARC W. W. HUBLEY -3- BEFORE THE REGISTER OF WILLS, CUMBERLAND COUNTY, PENNSYLVANIA No. 2011-00485 FIRST AND FINAL ACCOUNT OF JO ANN SHEPP BURNS and LOU ANN SHEPP HOUCK, Co-Executrices For ESTATE OF WILBUR R. W. HUBLEY, Deceased Date of Death: January 9, 2011 Date of Executor's Appointment: April 29, 2011 Accounting for the Period: April 29, 2011 to July 31, 2012 PURPOSE OF ACCOUNT: Jo Ann Shepp Bums and Lou Ann Shepp Houck, Co-Executrices, offer this Account to acquaint interested parties with the transactions that have occurred during their administration. The Account also indicates the proposed distribution of the Estate. It is important that the Account be carefully examined. Requests for additional information. or questions or objections can be discussed with: Debra K. Wallet, Esquire 24 N. 32nd Street Camp Hill, PA 17011 I.D. #23989 (717) 737-1300 EXHIBIT A SUMMARY OF ACCOUNT Fiduciary Current Acquisition Paae Value Value Proposed Distribution to Beneficiaries PRINCIPAL Receipts Net Gain on Sales or Other Dispositions Less Disbursements Debts of Decedent Funeral Expenses Administration Expenses Federal and State Taxes Fees and Commissions Principal Balance on Hand Balance Before Distributions Distributions to Beneficiaries Combined Balance on Hand 5 $ 77,358.49 2 $ 113,627.38 1,801.17 3 $ 6,365.02 3 3,761.20 3 624.01 3 7,142.57 3 13,000.00 $ 30,892.80 $ 84,535.75 $ 84,535.75 4 7,177.26 $ 77,358.49 Page 1 RECEIPTS OF PRINCIPAL Assets Listed in Inventory: (Value as of Date of Death) Cash and Bank Deposits: Wells Fargo Checking (formerly Wachovia) Acct. #1000015159262 Wells Fargo Checking (formerly Wachovia) Acct.#1010248200680 Wells Fargo Savings (formerly Wachovia) Acct. #1010248200664 Cash in possession of Decedent Tangible Personal Property: Personal property in room at Country Meadows Stocks: 67 Savings Bonds Series E and EE 222 shares of Principal Financial Group TOTAL ASSETS LISTED IN INVENTORY: $ 32,894.60 16,579.45 42,282.78 15.10 $ 91, 771.93 $ 125.00 $ 125.00 $ 14,553.19 7,177.26 $ 21, 730.45 TOTAL RECEIPTS OF PRINCIPAL: GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS Account or property Wells Fargo Bank interest earned after DOD $ 1,871.81 Bond interest earned after DOD $ 54.36 Personal property donated to Country Meadows (125.00) NET GAIN: S 113,627.38 $ 113,627.38 $ 1,801.17 Page 2 DISBURSEMENTS OF PRINCIPAL Debts of Decedent: Date: Country Meadows final bill 6/10/11 $ 330.13 7/6/11 2,503.91 Darren Barbucci, DPM 6/10/11 15.00 Verizon 6/10/11 38.24 Jackson Gastro. 6/10/11 162.00 Azizkhan Internal 6/10/11 10.00 West Shore EMS 6/10/11 975.62 State Employees' Retirement System 6/10/11 2,330.12 $ (repayment of monthly pension for month after death) Funeral Expenses: 6,365.02 Tri-County Memorial Gardens 7/28/11 $ 3,290.00 Delivery of ashes to Ocean City, MD Mileage $ 163.20 Overnight accommodations and meals 308.00 $ 3,761.20 Administration Expenses: Probate Fees Attorney's postage, copies, mileage, etc. Reimbursement of expenses incurred by Co-Executrices (postage, mileage, etc.) Reserve for Filing of Account Federal and State Taxes: PA Inheritance Tax 2011 Federal Fiduciary Tax 2011 PA Fiduciary Income Tax 4/15/11 $ 63.50 4/29/11 238.00 10/6/11 30.00 10/18/11 50.00 50.00 182.51 10.00 $ 624.01 10/6/11 $ 4,519.57 4/13/12 2,244.00 4/13/12 379.00 $ 7,142.57 Fees and Commissions: Debra K. Wallet, Esq.--Attorney Fees 10/6/11 $ 2,500.00 2,500.00 Jo Ann Shepp Burns Executrix Fee 4,000.00 Lou Ann Shepp Houck Executrix Fee 4,000.00 $ 13,000.00 Page 3 DISTRIBUTION TO BENEFICIARIES TO: Marc Hubley CB 5657 2500 Lisburn Rd., P.O. Box 200 Camp Hill, PA 17001-0200 9/29/11 Transfer of 222 shares of Principal Financial Group $ 7,177.26 TOTAL DISTRIBUTION TO BENEFICIARIES: $ 7,177.26 Page 4 PROPOSED DISTRIBUTION TO BENEFICIARIES TO: Marc Hubley CB 5657 2500 Lisburn Rd., P.O. Box 200 Camp Hill, PA 17001-0200 Cash distribution TOTAL PROPOSED DISTRIBUTION TO BENEFICIARIES: $ 77,358.49 $ 77,358.49 Page 5