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HomeMy WebLinkAbout12-27-12 (2) IN RE: TRUST A ESTABLISHED PURSUANT COURT OF COMMON. PLEAS TO THE ESTATE PLAN AGREEMENT CUMBERLAND COUNTY, PENNSYLVANIA OF TRUST OF MAX C. HEMPT MARTHA D. HEMPT, Beneficiary, and © r-l 07? ~ GERALD L. HEMPT, Beneficiary and as ORPHANS COURTDIVISIO9 r, f; -U -70 t- Trustee of the Trust A established pursuant? rr^ to the Estate Plan Agreement of Trust of N0.2012- 7 Cf) Max C. Hempt, dated January 29,1987 K x Petitioners < r , ORDER OF COURT ~J AND NOW, this,, / day of December, 2012, upon consideration of the Petition filed by Martha D. Hempt and Gerald L. Hempt, and it having been represented to the Court that all interested parties have joined in the prayers thereof, it is hereby ordered that: 1. Trust A under the Estate Plan Agreement of Trust of Max C. Hempt is severed into two (2) separate trusts, namely Trust A-1 and Trust A-II. Further, new Trust A-I may, after the severance, continue to be referred to as "Trust A", and shall use the tax identification number currently used by Trust A. 2. Trust A-II shall be funded with 1,751.5 shares of Hempt Bros. Inc. Shares, which shares represent one half of the Hempt Bros. Shares in Trust A-I, with the balance of the Trust A assets to remain in Trust A-I. 3. The sole remainder beneficiary of Trust A-II shall be Gerald L. Hempt. 4. The renunciation by Martha D. Hempt of her beneficial interest in Trust A-II is approved, with the effect that the remainder interest in Trust A-II is accelerated, Trust A-II terminated and the assets thereof, being 1,751.5 shares of Hempt Bros. Inc. Shares, distributed to Gerald L. Hempt. 5. Upon the death of Martha D. Hempt, Gerald L. Hempt, or his estate if he is not living, shall be responsible to pay an equitable portion of the death taxes arising as a result of the death of Martha D. Hempt, as provided in Section 12 of the Estate Plan Agreement of Trust of Max C. Hempt, but also taking into account the use of the unified credit against such taxes by virtue of the termination of Trust A-11 and the resulting deemed gift of Martha D. Hempt to Gerald L. Hempt of the Hempt Bros. Shares. 6. In the event that Martha D. Hempt dies within one (1) year of her renunciation and Pennsylvania inheritance tax becomes payable on her deemed gift to Gerald L. Hempt of Hempt 1~t Bros. Shares, Gerald L. Hempt, or his estate if he is not living, shall be liable for such inheritance tax. 7. Trust A-I is modified to provide that Hempt Bros. Shares held in Trust A-1 upon Mrs. Hempt's death, or proceeds reasonably traceable thereto, shall be distributed per stirpes to George F. Hempt's then living male issue, or if none, to Gerald L. Hempt, or if he is not living, to Gerald L. Hempt's then living male issue, per stirpes. BY THE COURT, V Albert . Masland, J. ORPHANS' COURT DIVISION COURT OF COMMON PLEAS OF In Re: Trust of Max C. Hempt CUMBERLAND COUNTY PENNSYLVANIA NO. 21-12-1337 CERTIFICATE OF SERVICE OF ORDER ORDER DATE: 12/27/12 JUDGE'S INITIALS: ahm TIME STAMP DATE: 12/27/12 IN RE: Order of Court SERVICE TO: Richard Stevenson 100 Pine Street PO Box 1160 Harrisburg PA 17108 No V. Otto 111 10 East High Street Carlisle PA 17013 Jerry R. Duffie 301 Market Street PO Box 109 Lemoyne PA 17043-0109 METHOD OF MAILING: ENVELOPES PROVIDED BY: ® USPS ❑ PETITIONER ❑ RRR ❑ JUDGE ❑ HAND DELIVERED ® CLERK OF ORPHANS COURT ® OTHER Service As per phone Conversation with Arty Katie Maxwell addresses taken from page 12 of the petition MAILED: 12/28/12 SERVICE TO: METHOD OF MAILING: ENVELOPES PROVIDED BY: ❑ USPS ❑ PETITIONER ❑ RRR ❑ JUDGE ❑ HAND DELIVERED ❑ CLERK OF ORPHANS COURT ❑ OTHER MAILED: Deputy Clerk of Orphans' Court