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HomeMy WebLinkAbout12-05-12 REV-1500 EX (02-11) (FI) 1505611185 OFFIr_.LAS UsE ONLY PA Department of Revenue County Code Year File Number Bureau of Individual Taxes INHERITANCE TAX RETURN PO o BOX zeoso~ 21 12 0706 Harrisburg, PA 17128-0601 RESIDENT DECEDENT ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death MMDDYYW Date of Birth MMDDYYW 203-68-7737 06062012 01211988 Decedent's Last Name Suffix Decedent's First Name M I MISTRETTA, IV PHILIP (If Applicable) Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name M I Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS FILL IN APPROPRIATE BOXES BELOW 1. Original Return 2. Supplemental Return ❑ 3. Remainder Return (Date of Death Prior to 12-13-82) ❑ 4. Limited Estate ❑ 4a. Future Interest Compromise (date of ❑ 5. Federal Estate Tax Return Required death after 12-12-82) ❑ 6. Decedent Died Testate F__1 7. Decedent Maintained a Living Trust 0 8. Total Number of Safe Deposit Boxes (Attach Copy of Will) gg-~----`~~ (Attach Copy of Trust.) ❑ 9. Litigation Proceeds Received t 10. Spousal Poverty Credit (Date of Death ❑ 11. Election to Tax under Sec. 9113(A) Between 12-31-91 and 1-1-95) (Attach' Schedule 0) CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOUIrp ~E DIRECTED TO: Name Daytime T6phone NUmb~ SCI = M JOHN D. SHERIDAN, ESQ. 717-&4%-917R--D ~ ~ R RS=_ MNIL E O D r r n III > C17 r a First Line of Address SUITE 201 c-> ° -l c~ G I._., . a Second Line of Address 2080 LINGLESTOWN RD. -Cn City or Post Office State ZIP Code DATE FILED HARRSISBURG PA 17110 Correspondent's e-mail address: JSHERIDAN@SSBC-LAW • COM Under penalties of perjury, I declare that I have examined this return, Including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete. Declaration of_preparer other than the personal representative is based on all information of which preparer has any knowledge. 51 URE OF PERS RESP NSIBLE OR FILING RETURN DATE //-oZ -ice ADD SS 17 ORT MEADOW DRIV MECHANICSBURG, PA 17055 SI U , E OF SPARER ER THANREPJASENTATIVK DATE A SS 0 0 LINGLESTOWN RD-, SUITE 201 HARRISBURG, PA 17110 PLEASE USE ORIGINAL FORM ONLY Side 1 1505611185 OM46473.000 1505611185 r 1 Estate of PHILIP MISTRETTA, IV 203-68-7737 Executors (Page 1) Name NADINE SMITH Address 1781 NORTH MEADOW DRIVE MECHANICSBURG, PA 17055- Tax ID 204-46-3080 J 1505611285 REV-1500 EX (F 1) Decedent's Social Security Number 203-68-7737 Decedent's Name: MISTRETTA, IV PHILIP RECAPITULATION 1. Real Estate (Schedule A) . . . . . . . . . . . . . • • • . . • • • • • • • • • • 1. 0.00 2. Stocks and Bonds (Schedule B) . . . . . . . . . . . . . . . . . . . . . . 2. 16-,000.00 3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) , . . . . 3. 0 • 00 4. Mortgages and Notes Receivable (Schedule D) , , , , , , , , , , , , , , , , , 4. 0 . 00 5. Cash, Bank Deposits and Miscellaneous Personal Property (Schedule E) , , , , , 5. 311429 • 00 6. Jointly Owned Property (Schedule F) F-1 Separate Billing Requested , , , . 6. 121837 • 00 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (Schedule G) ❑ Separate Billing Requested . . . . 7. 4 , 12 9 - 00 8. Total Gross Assets (total Lines 1 through 7) . . . . . . . . . 8, 6 4 , 3 9 5 - 00 9. Funeral Expenses and Administrative Costs (Schedule H) . . . . . . . . . . . . . 9. 9 , 8 0 3 - 00 10. Debts of Decedent, Mortgage Liabilities, and Liens (Schedule 1) , , , , , , , , , 10. 0 • 00 11. Total Deductions (total Lines 9 and 10) . . . . . . . . . . . . . . . . . . . . . 11. 9 , 8 0 3 - 00 12. Net Value of Estate (Line 8 minus Line 11) , , , , , , , , , , , , 12. 5 4 , 5 9 2 - 00 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made (Schedule J) . . . . . . . . . . . . . . . . 13. 0 • 00 14. Net Value Subject to Tax (Line 12 minus Line 13) , , , , , , , , , , . . . 14. 5 4 , 5 9 2 • 00 TAX CALCULATION - SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate, or transfers unAer Sec. 9116 (a)(1.2) X .0 - 0.00 15. 0.00 16. Amount of Line 14 t xable at lineal rate X.049 541592.00 16. 21457.00 17. Amount of Line 14 taxable at sibling rate X .12 0.00 17 0.00 18. Amount of Line 14 taxable at collateral rate X .15 0.00 18. 0.00 19. TAX DUE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. 21457.00 20. FILL IN THE BOX IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT Side 2 1505611285 1505611285 CM4648 3.000 REV-1500 EX (FI) Page 3 File Number Decedent's Complete Address: 21 12 0706 DECEDENTS NAME MISTR TTA, V PHILIP STREETADDRESS 17AI, NORTH MEADOW DRIVE CUMBERLAND CITY STATE ZIP MECHANICSBURG PA 17055- Tax Payments and Credits: 1. Tax Due (Page 2, Line 19) (1) 2,457-00 2. Credits/Payments A. Prior Payments 211-100-00 B. Discount 120-00 21520-00 Total Credits ( A + B ) (2) 3. Interest (3) 0.00 4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. Fill in box on Page 2, Line 20 to request a refund. (4) 6 3 • 0 0 5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5) 0.00 Make check payable to: REGISTER OF WILLS, AGENT. PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS 1. Did decedent make a transfer and: Yes No a. retain the use or income of the property transferred . . . . . . . . . . . . . . . . . . . . . . . . ~ 0 b. retain the right to designate who shall use the property transferred or its income . . . . . . . . . c. retain a reversionary interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . El 11 d. 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? . . . . . . . . . . . . . . . . . . . . . . . . 1:1 E91 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 ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF 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) (1)]. 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.§9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for 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 lineal beneficiaries is 4.5 percent, except as noted in [72 P.S. §9116(a)(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(a)(1.3)]. A sibling is defined, under Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption. OM4671 2.000 REV-1503 EX + (6-98) SCHEDULE B COMMONWEALTH OF PENNSYLVANIA STOCKS & BONDS INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER PHILIP MISTRETTA IV 21 12 0706 All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1.292.896 Shares PPL CORPORATION COMMON STOCK 8,028 2 729.843 Shares LORD ABBETT ACCOUNT ENDING IN 7343 7,890 3 25 Par SERIES EE SAVINGS BOND (NO. 4 ON ATTACHED INVENTORY REPORT) 82 TOTAL (Also enter on line 2, Recapitulation) $ 16 , 000 3W4696 1.000 (If more space is needed, insert additional sheets of the same size) REV-1508 EX- (11-10) Pennsylvania SCHEDULE E DEPARTMENT OF REVENUE CASH, BANK DEPOSITS, & MISC. TURN INHERITANCE TAX R PERSONAL PROPERTY RESIDENT T DEC DECEDDENTENT RESID ESTATE OF: FILE NUMBER: PHILIP MISTRETTA IV 21 12 0706 Include the proceeds of litigation and the date the proceeds were received by the estate. All ro ert jointly owned with right of survivorship must be disclosed on Schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1. AMERICAN FUNDS ACCOUNT #64444304 26,279 Various Mutual Funds) 2 Household Personal Property 150 (The decedent had minimal personal property which did not warrant the cost of an appraisal. The items were an old desk, books, hand crafted computer, futon, I-pod and clothing) 3 2001 TOYOTA TACOMA 5,000 (SALE PRICE) TOTAL (Also enter on line 5, Recapitulation) $ 31,429 O W46AD 2.000 If more space is needed, use additional sheets of paper of the same size. 'REV-1509 EX+(01-10) pennsylvania SCHEDULE F DEPARTMENT OF REVENUE INHERITANCE TAX RETURN JOINTLY OWNED PROPERTY RESIDENT DECEDENT ESTATE OF: FILE NUMBER: PHILIP MISTRETTA IV 21 12 0706 If an asset became jointly owned within one year of the decedent's date of death, it must be reported on Schedule a SURVfVM JOINT TENANT(S) NAME(S) ADDRESS RELATIONSHIP TO DECEDENT A MISTRETTA, III, PHILIP 24 DAISY LANE, NORTH CHILI, NY 14514 Father B SMITH, NADINE 1781 NORTH MEADOW DRIVE, MECHANICSBURG, PA 17055 Mother JOINTLY OWNED PROPERTY: LETTER DATE DESCRIPTION OF PROPERTY % OF DATE OF DEATH ITEM FOR JOINT MADE INCLUDE NAM= OF FINANCIAL INSTITUTICN AND BANK ACCOUNT NUMBER OR SIMILAR DATE OF DEATH DECEDENTS VALUEOF NUMBER TENANT JOINT IDENTIFYING NUMBER. ATTACH DEED FOR JOINTLY HELD REAL ESTATE. VALUEOFASSET INTEREST DECEDENTS INTEREST 1 B 5/11/2006 MEMBERS 1ST FCU SAVINGS ACCOUNT #285260-00 22,689 50.0000 11,345 2 B 5/11/200 MEMBERS 1ST FCU CHECKING ACCOUNT #285260-11 2,336 50.0000 1,168 3 B 2/25/1988 25 Par SERIES EE SAVINGS BOND (NO 6 ON ATTACHED INVENTORY REPORT) 82 50.0000 41 4 B 1/13/198 25 Par SERIES EE SAVINGS BONDS (NO 1 ON ATTACHED INVENTORY REPORT) 79 51.0000 40 5 B 3/4/1988 25 Par SERIES EE SAVINGS BOND (NO 3 ON ATTACHED INVENTORY REPORT) 82 50.0000 41 To al from c ntinuation schedules . . . 202 TOTAL (Also enter on Line 6, Recapitulation) $ 12 , 837 9w46AE 2.000 If more space is needed, use additional sheets of paper of the same size. Estate of: PHILIP MISTRETTA, IV 21 12 0706 Schedule F Part 2 (Page 2) Item Joint DOD Value of Perc DOD Value of No. Cot. Date Description Asset Int. Interest 6 A 2/27/1988 25 Par SERIES EE SAVINGS BOND (NO 5 ON ATTACHED INVENTORY REPORT) 82 50.0000 41 7 B 2/3/1989 50 Par SERIES EE SAVINGS BOND (NO 10 ON ATTACHED INVENTORY REPORT) 157 50.0000 79 8 A 5/20/1988 50 Par SERIES EE SAVINGS BOND (NO 31 ON ATTACHED INVENTORY REPORT) 164 50.0000 82 Total (Carry forward to main schedule) 202 REV-1510 EX+(08-09) SCHEDULE G pennsylvania DEPARTMENT OF REVENUE INTER-VIVOS TRANSFERS AND INHERITANCE TAX RETURN MISC. NON-PROBATE PROPERTY RESIDENT DECEDENT ESTATE OF FILE NUMBER PHILIP MISTRETTA IV 21 12 0706 This schedule must be completed and filed if the answer to any of questions 1 through 4 on page three of the REV-1500 is yes. DESCRIPTION OF PROPERTY u EXCLUSION TAXABLE ITEM NCLLDETFENAME OFTHETRANSFEREE, THEIR RELATIONSHIP TODECEDENT AND DATE OF DEATH /o OFDECUS NUMBE THE DATE OFTRANSFER ATTACH ACOPY OFTHEDEED FORREAL ESTATE. VALUE OF ASSET INTEREST IFAPPLICABLE VALUE 1. AMERICAN FUNDS IRA ACCOUNT #84532399 20,453 100.0000 20,453 0 (Decedent's IRA Account is non-taxable as he was under 59 1/2 years of age) 2 US SAVINGS BONDS 41129 100.0000 0 4,129 (ALL REMAINING BONDS LISTED ON INVENTORY REPORT WERE PAYABLE UPON DEATH TO MOTHER NADINE SMITH, PREVIOUSLY KNOWN AS NADINE MISTRETTA) TOTAL (Also enter on line 7, Recapitulation) $ 4,129 If more space is needed, use additional sheets of paper of the same size. 9W46AF 2.000 REV-1511 EX- (10-09) SCHEDULE H pennsylvania DEPARTMENT OF REVENUE FUNERAL EXPENSES AND INHERITANCE TAX RETURN ADMINISTRATIVE COSTS RESIDENT DECEDENT ESTATE OF FILE NUMBER PHILIP MISTRETTA IV 21 12 0706 Decedent's debts must be reported on Schedule I. ITEM NUMBER DESCRIPTION AMOUNT A. FUNERAL EXPENSES: 1 Malpezzi Funeral Home 5,059 Total from continuation schedules . . . . . . . . . 601 B. ADMINISTRATIVE COSTS: 1. Personal Representative Commissions: Name(s) of Personal Representative(s) Street Address City State ZIP Year(s) Commission Paid: 2. Attorney Fees: 3,500 3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation.) Claimant Street Address City State ZIP Relationship of Claimant to Decedent 4. Probate Fees: 154 5. Accountant Fees: 6. Tax Return Preparer Fees: 7. 1 Cumberland Law Journal (Estate Advertisement) 75 2 The Sentinel (Estate Advertisement) 83 Total from continuation schedules . . . . . . . . . 331 TOTAL (Also enter on Line 9, Recapitulation) $ 9,803 9w46AC 2.000 If more space is needed, use additional sheets of paper of the same size. Estate of: PHILIP MISTRETTA, IV 21 12 0706 Schedule H Part 1 (Page 2) Item No. Description Amount 2 Vissagio's Ristorante (Funeral Luncheon/Dinner) 601 Total (Carry forward to main schedule) 601 Estate of: PHILIP MISTRETTA, IV 21 12 0706 Schedule H Part 7 (Page 2) 3 Nadine Smith (Executor Costs to include: mileage, postage, fax, key duplication costs) 121 4 Donegal Insurance Group (Vehicle Insurance) 195 5 Register of Wills 15 Total (Carry forward to main schedule) 331 REV-1513 EX+(01-10) SCHEDULE J pennsylvania DEPARTMENTOF REVENUE BENEFICIARIES INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF: FILE NUMBER: PHILIP MISTRETTA IV 21 12 0706 RELATIONSHIP TO DECEDENT AMOUNT OR SHARE NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE TAXABLE DISTRIBUTIONS [Include outright spousal distributions and transfers under Sec. 9116 (a) (1.2).] 1. PHILIP MISTRETTA, III 24 DAISY LANE NORTH CHILI, NY 14514 25 Par SERIES EE SAVINGS BOND (NO 5 ON ATTACHED INVENTORY REPORT) Inventory Value: 41 50 Par SERIES EE SAVINGS BOND (NO 31 ON ATTACHED INVENTORY REPORT) Inventory Value: 82 Father 123 ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18 OF REV-1500 COVER SHEET, AS APPROPRIATE. II NON-TAXABLE DISTRIBUTIONS A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN: 1. B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS: 1. TOTAL OF PART II - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. $ 0 9W46AI 2.000 If more space is needed, use additional sheets of paper of the same size. Estate of: PHILIP MISTRETTA, IV 21 12 0706 Schedule J Part 1 (Page 2) Item No. Description Relation Amount 2 NADINE SMITH 1781 NORTH MEADOW DRIVE MECHANICSBURG, PA 17055 All of Residue: 54,469 Mother 54,469 1 1 i LA m W W W W W N N N N N N N N N N i i i i i O CO V (W N Z ^ PW N ~0CDM V MCn.A.W Ni0CD 00V Mcn -N W NiO O Q CD Q i ~ mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm.., mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm(l). 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CDO 0 O C0 m m CD co Co o 0 CD O co co (0 CD O C0 o C0 (D 0 co o C0 o CD CD w 00 o w co 0 O CD co i Z N N p * O O O I ff O N N N I ftft C a (D Q i • W a- cr O O j O y p Q Qy CL O fi/ y [A 0 rh C/) ni C> (D _ [n` C,) S ti O tD --a a O O fb S M Ci Ommo X~ (D h y Sy y~Q to C G (Q j (D (D CD S. Q N O CO co O O co _ (D (D co 2 ' I • (D o nai z a a a) o~(0 . rn ax m rom~?Za . Z-7 (oQ.n oz a rr. N ~ Q- (D r~ m'~yrny n CL ID Z 0 a) X D CD 0 N a o' o~ N-5 O C:L CD 2 r CD o n J 2 cr 0 0 ; j y`~ CL CO Z O O CD tt = Q 69 0 a (D ( CJI M O paj 0 2 Q O O O CDairn n20O- mgm~ v 42 ~r O C 7 W [2 O Q. .yi V 1 lV (D nCo C7 fD 00 cu o m rn 0) CO CA 0 V O j O N N REGISTER OF WILLS Certificate of Grant of Letters CUMBERLAND COUNTY, PENNSYLVANIA i No. 21-12-0706 PA No. 21-12-0706 x ESTATE OF Philip Mistretta IV a/k/a: Philip C. Mistretta Late Of. Mechanicsburg Borough, Cumberland County, Deceased Social Security No. 203-68-7737 WHEREAS, on the 25th day of June, 2012, the instrument dated September 8, 2006, was admitted to probate as the Last Will of Philip Mistretta IV, late of Mechanicsburg Borough, who died on the 6th day of June, 2012, and WHEREAS, a true copy of the will as probated is annexed hereto. THEREFORE, I, Glenda Farrier Strasbaugh, Register of Wills in and for the County of Cumberland, in the Commonwealth of Pennsylvania, hereby certify that I have this day granted Letters Testamentary to Nadine Smith, AKA Nadine Craver who has duly qualified as Executrix and has agreed to administer the estate according to law, all of which fully appears of record in my office at Carlisle, Pennsylvania. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed the seal of my office the 25th day of June, 2012. s gist of i s Deputy **NOTE** ALL NAMES ABOVE APPEAR (FIRST, MIDDLE, LAST) -L. LAST WILL AND TESTAMENT KNOW ALL MEN BY THESE PRESENTS, that I, PHILIP MISTRETTP;-IV curreittby krresiding in Mechanicsburg, Cumberland County, Commonwealth of Pennsylvania, being in good health and of sound and disposing memory do hereby make, declare and publish this as my Last Will and Testament, hereby revoking all former Wills and Codicils heretofore made by me. FIRST: I direct that all of my debts not barred by the statute of limitations, expenses of my last illness, funeral expenses, costs of administration and claims allowed in the administration of my estate shall be paid by my Executor hereinafter named, from my estate as soon after my decease as shall be found convenient. SECOND: I bequeath my automobiles, household and personal effects and other tangible personalty of like nature (not including cash or securities), together with any existing insurance thereon, to my mother, NADINE CRAVER. In the event that NADINE CRAVER should predecease me, I give, devise and bequeath my tangible personalty to ELLEN SMITH NEBRE. THIRD: I give, devise and bequeath the rest, residue and remainder of my estate, whether real, personal or mixed, and of any nature whatsoever and wherever situate, to my mother, NADINE CRAVER. In the event that NADINE CRAVER should predecease me, I give, devise and bequeath the rest, residue and remainder of my estate, whether real, personal or mixed and of any nature whatsoever and wherever situate, to ELLEN SMITH NEBRE. FOURTH: I hereby nominate, constitute, and appoint my mother, NADINE CRAVER, as Executor of this, my Last Will and Testament. In the event that NADINE CRAVER shall predecease me, or be unwilling or unable to act as my Executor, as aforesaid, then I nominate, constitute, and appoint ELLEN SMITH NEBRE without necessity for posting security regardless of state of residence, as Executor of this, my Last Will and Testament. All references to the Executor herein shall be applicable to said substitute Executor. A FIFTH: My Executor shall have, in addition to the powers and authority conferred upon him by law, the following additional powers and authority: 1. To sell at public or private sale, exchange, transfer, partition, give options upon, lease, mortgage, pledge or otherwise dispose of any property, real or personal, at any time constituting a portion of my estate, and upon such terms and conditions as the Executor shall deem wise. 2. To invest any money at any time in such bonds, stocks, notes, real estate, mortgages, life insurance, annuities or other securities, or such property, real or personal, as the Executor shall deem wise, without being limited by any statutes or rule of law regarding investments by the Executor. 3. To retain, without incurring any liability, as investments, any property owned by me at the time of my death, as long as my Executor may deem it wise, and even though such property is not the kind of property an Executor would purchase as an investment; and even though to retain such property might violate sound diversification principles. 4. To cause any security or other property which may constitute a portion of my estate to be issued, held or registered in the Executor's own name, or in the name of a nominee, or in such form that title will pass by delivery. 5. To consent to the reorganization, consolidation, readjustment of the financial structure, or sale of the assets of any corporation or other organization, the securities of which constitute a portion of my estate, and to take any action with reference to such securities which, in the opinion of the Executor is necessary to obtain the benefit of any such reorganization, consolidation, readjustment or sale; to exercise any conversion privilege or subscription right given to my Executor as owner of any securities constituting a portion of my estate resulting from any reorganization, consolidation, readjustment, sale, conversion or subscription. 6. To pay all costs, taxes, charges and expenses in connection with the administration of my estate, including such compensations to Executor which shall be in accordance with established fees throughout the period of administration of my estate. 7. To determine what is "income" and what is "principal" hereunder, and my Executor's decision thereon shall be final; and to purchase securities at a premium or discount, and to apply or charge said premium or discount against income or principal as the Executor may determine. 8. The Executor may make payments to or on behalf of any person who is the beneficiary hereunder but in no event, however, shall payments be made to any creditor or other such person because of anticipation of payment by the beneficiary, and any such claim made by way of anticipation by the beneficiary shall be of no validity or legal effect. 9. To borrow money from any person, firm or corporation, including any corporation acting as an Executor hereunder, for the purpose of protecting and preserving or improving my estate hereunder; to execute promissory notes or other obligations for amounts so borrowed. 10. To employ legal counsel, accountants, brokers, investment advisors, custodians, managers and other agents and employees and to pay reasonable compensation out of my estate or any funds held hereunder to which said compensation is attributable. 11. To carry on any business owned or controlled by me at my death for whatever period of time my Executor shall think proper, and my Executor shall have the power to do any and all things my Executor deems necessary or appropriate, including the power to close out, liquidate or sell the business at such time and upon such terms as my Executor shall deem best. 12. To do all other acts in my Executor's judgment necessary or desirable for the proper and advantageous management, investment and distribution of my estate. SIXTH: I direct that all transfer and inheritance taxes, state or federal, assessed because of my death, whether the funds, property or insurance proceeds to which such taxes are attributable pass under this Will or not, shall be paid out of my residuary estate; that my Executor pay, or provide for payment of all such taxes at such time, or times, and in such manner as my Executor deems best. IN WITNESS WHEREOF, I, PHILIP MISTRETTA, IV, the Testator to this, my Last Will and Testament, typewritten on six sheets of paper which I have identified at the bottom of each page by my signature, hereunto set my hand and seal the day of 2006. 40 PHILIP MISTRETTA, IV The preceding instrument consisting of this and five other typewritten pages, each identified by the signature of the Testator, PHILIP MISTRETTA, IV, this day and date thereof signed, published and declared by PHILIP MISTRETTA, IV, the Testator therein named, as and for his Last Will, in the presence of us who, at his request, in his presence, and in the presence of each other have subscribed our names as witnesses. 4 COMMONWEALTH OF PENNSYLVANIA : SS COUNTY OF CUMBERLAND I, PHILIP MISTRETIA, IV, Testator whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my Last Will; that I signed it willingly; and that I signed it as my free and voluntary act for the purposes therein expressed. PHILIP MISTRETTA, IV Sworn or affirmed to and acknowledged before me by PHILIP MISTRETTA, IV, Testator, the day of 12006. (SEAL) Notary Public COM UNWEALrh ur i-i=.w~1: ; t• Notarial seal Michael Cher%vka, Notary Public Womrleysbur9 Boro, Cumberland Coin ,h: MY Commission Expires,apr. 27, 22We Member, Pennsvivani A:;.,,;,,;... COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF CUMBERLAND We a f I ~ C-1 1k.c~.GjL _ and ! 106- 11?). 0 (tldi the witnesses whose names are signed to the attached or foregoing instrument, being duly qualified according to law, do depose and say that we were present and saw Testator sign and execute the instrument as his Last Will; that he signed willingly and that he executed it as his free and voluntary act for the purposes therein expressed; that each of us in the hearing and sight of the Testator signed the Will as witnesses; and that to the best of our knowledge the Testator was at that time eighteen or more years of age, of sound mind and under no constraint or undue influence. It" )Ck Sworn or affirmed to and subscribed to before me by ~ Slag L4 k and TYtQldi -witnesses, this _ day of , 2006. (SEAL) 1'Gt~Lll~~ - Notary Public XIM if)ivWtHLs r Notarial Sea! 5 Michael CheraMa, L,ftrmleysbiurg Born, Cumbe,1anr Commission