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HomeMy WebLinkAbout11-29-12 (2) FAMILY SETTLEMENT AGREEMENT AND RELEASE ,~, OF HEIRS/EXECUTRIX OF ARIO ANDRE(~,I ~~~" ~rn © rn ~, ~ ~-'- c_, ESTATE N0.2011-01342, CUMBERLAND COUNTY, PE~~L~~N~~ ~ ~ ~ ~ rat -"~y a.`..7 i..:;: ~.....~ 6;` KNOW ALL MEN BY THESE PRESENTS THAT WHEREAS, ~ ~te of '9r$ N- 3~' Street, Camp Hill (Hampden Township, Cumberland County), Pennsylvania, decsed~''~ia'`~ testate on December 4, 2011; and WHEREAS, the last will and testament of the decedent, dated May 18, 2006 was filed for probate in the Office of the Register of Wills of Cumberland County, Pennsylvania on or about December 16, 2011; and WHEREAS, by the terms of Items II of the said will, the decedent's five children Rita Andreoli, Mary Jane Olsen, Ricardo E. Andreoli, Ario Andreoli, Jr., and Linda Andreoli-Fanella, are his residuary beneficiaries entitled to equal shares of his residuary estate, and WHEREAS, by the terms of Item V of the said will, the decedent's daughter Linda Andreoli-Fanella is appointed as the executrix of the decedent's last will and testament; and WHEREAS, on December 16, 2011, letters testamentary were issued to the decedent's daughter Linda Andreoli-Fanella, by the Register of Wills of Cumberland County, Pennsylvania; and WHEREAS, the said Linda Andreoli-Fanella, executrix, wishes to account for and distribute the remaining assets of the estate; and WHEREAS, certain debts, funeral expenses, costs of administration, property maintenance costs, in kind distributions and reserve funds, including Pennsylvania Inheritance Tax, amounting to $33,816.00, leaving a balance for distribution of $360,000.00 as of the ending date of the attached accounting marked Exhibit A. NOW THEREFORE KNOW YE THAT we, Rita Andreoli, Mary Jane Olsen, Ricardo E. Andreoli, Ario Andreoli, Jr. and Linda Andreoli-Fanella, the sole beneficiaries of the said estate under the decedent's last will and testament, do hereby acknowledge that we have this day received from the aforesaid executrix, in full satisfaction and payment of all sum or sums of money, legacies, bequests, and devises as are due us as of the date of this instrument under the said last will and testament (except for the remainder of any amount held in reserve hereunder and the amount of any additional interest accumulating beyond the date of the attached accounting going to residuary beneficiaries), which amount we have received and which is set opposite our names in the table and schedule of distribution in said statement attached hereto and marked Exhibit A. - - P, AND we 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 and 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 Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania; THEREFORE, we do hereby remise, release, quitclaim and forever discharge the said Linda Andreoli-Fanella, executrix aforesaid, her heirs, executors, administrators and assigns, of and from the said estate and from all actions, suits, 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 of the said decedent, and her deeds as executrix of the said estate and we do hereby covenant and agree that should any liability come due to the estate of the said Ario Andreoli after the signing of this agreement, which liability cannot be satisfied from any funds held hereunder in reserve, we will contribute pro-rata our respective shares of the estate assets to satisfy any and all claims, demands, suits or causes of action which may be successfully prosecuted against the said estate of the said Ario Andreoli, deceased, or the aforesaid executrix after the signing, sealing and delivery of this family settlement and release. AND the parties further agree that this agreement may be executed in any number of counterparts, and each executed counterpart shall have the same force and effect as the original instrument and as if all the parties to all the counterparts had signed the same instrument. (See attached signature pages) 2 IN WITNESS WHEREOF, I have hereunto set my hand and seal on the date indicated below my signature. Ri a Andreoli Date: 1/- ~ -~~ ~ COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND SS On this, the ~ day of ~~v~.h ~z~ 2012, before me, a notary public, personally appeared Rita Andreoli, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within family settlement agreement for the Estate of Ario Andreoli and acknowledged that she executed the same for the purposes therein contained. In witness whereof, I hereunto set my hand and official seal. Notary Public COIuA40NW@ALTH OF PENNSYLVANIA Comm. Expires: NOTARIAL SEAL, c '~• C~+ Notary Public City of Harrisburg, Dauphin County M commission ex ins December 28, 2012 IN WITNESS WHEREOF, I have hereunto set my hand and seal on the date indicated below my signature. Mary Jane ls~ n: Date: ~3 ~ COMMONWEALTH OF PENNSYLVANIA . SS COUNTY OF CUMBERLAND On this, the ~~ day of ~ ~. 2012, before me, a notary public, personally appeared Mary Jane Olsen, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within family settlement agreement for the Estate of Ario Andreoli and acknowledged that she executed the same for the purposes therein contained. In witness whereof, I hereunto set my hand and official seal. otary Public Comm. Expires: i~A1WEALTH of PENN$YLVAIJIA NOTARIAL S Richard A. Cairn, Notary Public City of Harrisburg, Dauphin County M commission ex ites December 28, 2012 4 IN WITNESS WHEREOF, we have hereunto set my hand and seal on the date indicated below my signature. 0 Ario Andreoli, Jr. Date: • ' (~ ~2~ 'Y~'~ ~FiZ.. ~ 3 Z G/ ~ COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF CUMBERLAND : On this, the ~ day of ~/ , 2012, before me, a notary public, personally appeared Ario Andreoli, Jr., own to me (or satisfactorily proven) to be the person whose name is subscribed to the within family settlement agreement for the Estate of Ario Andreoli and acknowledged that he executed the same for the purposes therein contained. In witness whereof, I hereunto set my hand and official seal. otary Public colu~oNVV~t,~ ©~ »rnvsnvArtln Comm. Expires: rroTARiAr., s». blic City of Harrisburg,~Dauphin County My commission ex ices December 28, 2012 5 IN WITNESS WHEREOF, I have hereunto set my hand and seal on the date indicated below my signature. Li a Andreoli-Fanella Date: ~~'~,~ ~ ~a COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND SS On this, the ~ 3 r u~ day of y~ I/c~, 6-t / , 2012, before me, a notary public, personally appeared Linda Andreoli-Fanella, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within family settlement agreement for the Estate of Ario Andreoli and acknowledged that she executed the same for the purposes therein contained. In witness whereof, I hereunto set my hand and official sea otary Public cora~ax~~.'~ op r»~rtvnt~nt+ Comm. Expires: NoTAxiAr. g.~.. c City of Harrisburg, Dauphin County My commission ex Tres December 28, 2012 6 IN WITNESS WHEREOF, we have hereunto set my hand and seal on the date indicated below my signature. Ej~~~ ~ , Ricardo E. Andreoli Date: ~/ ~2,~ ~/ COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND SS On this, the ~3 r day of ,~~6~ ~' 2012, before me, a notary public, personally appeared Ricardo E. Andreoli., known to me (or satisfactorily proven) to be the person whose name is subscribed to the within family settlement agreement for the Estate of Ario Andreoli and acknowledged that he executed the same for the purposes therein contained. In witness whereof, I hereunto set my hand and official seal. otary Public Comm. Expires: CO~oh'~ OF PENNBYLVAMp ~~_- Richard A. Cairn, Notary Public City of Harrisburg, Dauphin County My commission ex ites December 28, 2012 7 EXHIBIT A ACCOUNT OF LINDA ANDREOLI-FANELLA, EXECUTRIX OF THE ESTATE OF ARIO ANDREOLI AS OF NOVEMBER 15, 2012 PRINCIPAL DEBITS The Accountant charges herself as follows: PERSONAL PROPERTY 1. U.S. Saving Bonds 2. Membs 1St FCU $90,621.00 a. Savings Account No. 198256-00 - $3,800.00 b. Certificate of Deposit No. 198256-43 - $36,747.00. (1/3`d ownership), $12,249.00 c. Certif. of Deposit No. 198256-44 - $55,121.00 (1/4t" ownership), $13,780.00 d. Certif. of Dep. No. 198256-45, $26,287.00 Total - $56,116.00 3. Fulton Bank, N.A. a. CD No. 022-0220833 - $38,054.00 (includes interest) b. CD No. 348-0371090 - $24,847.00 c. CD No. 348-0371094 - $16,564.00 d. CD No. 348-0371813 - $18,132.00 e. CD No. 348-0371817 - $27,146.00 f. Interest on Items b-e - $2,078.00 4. P5ECU Ref. No. 1288437981641 (1/6t" Interest in All Accounts) a. Savings Acct. - $16.00 (1 /6t" Share - $3.00 b. Certif. No. S52 - $89,643.00 (1/6t" Share - $14,940.00) c. Certif. No. S53 - $29,657.00 (1/6t" Share - $4,943.00) Total - $126,821.00 Total - $19,886.00 8 5. U.S. Treasury Direct - $20,0001 6. 200 Shares IBM Common Stock, $189.66 per share Close on Dec. 2, 201: Distributed Equally to Heirs In-Kind Total - $37,932.00 7. M& T Bank a. Checking Acct. No. 9843064750 - $20.00 b. CD Acct. No. 31003917267609 - $18,750.00 c. IRA Acct. 35004201748025 - $4,230.00 d. IRA Acct. 35004201748033 - $7,027.00 e. IRA Acct. 35004201748059 - $2,246.00 8. PNC Bank, N.A. a. Checking Acct. No. 5140001374 - $5,584.00 b. Savings Acct. No. 5130105129 - $106,876.00 9. Susquehanna (formerly Greystone) Bank a. CD Acct. 3000044143 - $44,316.00 b. CD Acct. 3000075363 - $25,770.00 c. CD Acct. 3000164984 - $15,288.00 d. Interest on Items a-c - $1902.00 Total - $32,273.00 Total - $112,460.00 Total: $87,276.00 10. Automobile - KBB Value - $1305.00 11. Refund 2011 Final State Inc. Tax $10.00 12. PNC Interest on Estate Checking Acct. $4.00 ' To be held in reserve and used in part for possible repair to house -roof and remainder to be distributed later with other reserve monies 9 13. Dividend IBM Stock, 12/11/2011 $150.00 14. U.S. Treasury Direct Bond Interest, 9/4/2012 $50.00 15. Nationwide Insurance Refund, 8/31/2012 $48.00 16. Membs. 1St Interest on Estate Accts., 8/6/2012 $5.00 TOTAL PERSONAL PROPERTY $584,957.00 REAL PROPERTY • 98 N. 35~' Street, Hampden Township, Cumb. Co. (Parcel 10-21-0275-077) - Assessed Value .................................................................................. $194,100 • Undeveloped Adjoining Lot, Hampden Twp., Cumb. Co. (Parcel 10-21-0275-077A) - Assessed Value ...................................................................... $ 00 . 34 1 (This real estate is an in-kind distribution item to the residuary heirs Rita Andreoli, Ario Andreoli, Jr., Mary Jane Olsen, Ricardo E. Andreoli and Linda Andreoli-Fanella. To be transferred to residuary heirs via executor's deed at or shortly after the execution of this family settlement agreement by the heirs named herein) TOTAL REAL PROPERTY TOTAL PRINCIPAL DEBITS $228,200.00 $813,157.00 10 PRINCIPAL CREDITS The Accountant claim credit for the following: 1. Neill Funeral Home, Camp Hill, PA $9,152.00 2. In-kind distribution value of Decedent's Residence and Adj. Lot $228,200.00 3. Replace lost title to Decedent's Car $23.00 4. Probate Fees $644.00 5. Advertise Estate $205.00 6. File Inventory & Inh. Tax Return $30.00 7. File Family Settlement Agreement (Pending) $20.00 8. Record Deed to Heirs (98 N. 35th St.) $72.00 8. PA State Inheritance Tax (Excludes 5% Credit) $33,816.00 9. Aspundhi Tree Service (Emer. Tree Trimming, 98 N. 35th) $4,200.00 10. Hackman Roofing Co., (Emer. Roof and Spouting Repairs, 98 N. 35th) $339.00 11. Funeral Luncheon (Reimburse Executrix) $2,334.00 12. Final Federal Income Tax Return Payment2 $18 163.00 13. Final Release $5.00 13. Held in Reserve by Executor $24,202.003 14. County/Township Real Estate Taxes for 2012, 98 N. 35th& adj. lot $492.00 15. Cumb. Valley Sch. Dist. Real Estate Tax 2012, 98 N. 35th & adj lot $1892.00 16. PPL Elect. Util. Services (98 N. 35th St.) DOD to Oct. 2012 $921.00 17. UGI Gas Services (98 N. 35th St.) DOD to Nov. 2012 $1866.00 18. Nationwide Ins. Co. (Homeowners Prem., 98 N. 35th St.) $670.00 z Included payment of all taxes on interest accrued on cashed U.S. Savings Bonds. s This figure may not match the fmal amount in the estate check book when the estate account is closed due to expenses paid after the date of this accounting and the addition of interest. 11 19. PA Amer. Water Util. Services (98 N. 35th St.) DOD to Oct. 2012 20. Car Insurance Premiums on Decedent's Car 21. Family Exemption to Rita Andreoli 22. Family Exemption to Ario Andreoli, Jr. 23. Fed. Ex. Delivery Estate Related 24. Est. Quar. Fed. Tax Payment for 4th Quar. 2011 25. Lawn Treatment at Decedent's Residence 26. Repairs/Inspection to Decedent's Car for Possible Sale 27. Hampden Twp. Sewer/Trash Bill DOD to July 2012 28. New Screen Door for Decedent's Residence 29. Replace Broken Garage Doors Decedent's Residence 30. Trim Hedges at Decedent's Residence 31. In kind distribution of decedent's Lincoln Town Car 32. In kind distribution of IBM Common Stock noted above 33. Attorney Fee for Estate 34. U.S. Treasury Direct (See footnote 1)) 35. Previously Distributed Portions of Decedent's accounts as follows:4 Members 1St FCU: $954.00 $289.00 $1750.00 $1750.00 $33.00 $250.00 $589.00 $606.00 $620.00 $393.00 $1416.00 $675.00 $1305.00 $37,932.00 $8,000.00 $20,000.00 a. Certificate of Deposit No. 198256-43 - $36,747.00. (1/3~d ownership), $12,249.00 b. Certif. of Deposit No. 198256-44 - $55,121.00 (1/4th ownership), $13,780.00 PSECU a. Savings Acct. - $16.39 (1/6th Share - $3.00) b. Certif. No. S52 - $89,643.00 (1/6th Share - $14,940.00) ' When these accounts were terminated, the joint owners received, not only their share of the accounts, but also their proportionate share of the decedent's portion of these accounts. 'Therefore, the estate is not in possession of these funds and they are not part of the distribution hereunder. 12 c. Certif. No. S53 - $29,657.00 (1/6~' Share - $4,943.00) Total Previously Distributed to Joint Owners - $45,915.00 36. Good Shepherd Church Vision Campaign Donation in Rose & Ario's Names $1,000.00 37. Lowes -New Lock for Front, Side Doors & Closet Doors (residence) $164.00 38. Laghy's Construction (install lock & doors and supplies) $370.00 39. Bath Solutions Down Payment for Shower & Plumbing $1,900.00 TOTAL PRINCIPAL CREDITS SUMMARY TOTAL DEBITS TOTAL CREDITS BALANCE FOR DISTRIBUTION SCHEDULE OF DISTRIBUTION Rita Andreoli Ario Andreoli, Jr. Linda Andreoli-Fanella Mary Jane Olsen Ricardo E. Andreoli thus exhausting the funds available for distribution. $453,157.00 $813,157.00 $453,157.00 $360,000.00 $72,000.00 $72,000.00 $72,000.00 $72,000.00 $72,000.00 13