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HomeMy WebLinkAbout01-04-13IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION ESTATE OF JEFFREY L. SPEARING, DECEASED FILE N0.2012-0768 FAMILY AGREEMENT AND FINAL RELEASE THIS AGREEMENT by and between STEPHEN L. SPEARING, individually and as Executor of the Estate of JEFFREY L. SPEARING, Deceased, and SCOTT M. SPEARING, KIMBERLY M. HUMRICHOUSER, and ERICA L. FORTINI, individually. WHEREAS, JEFFREY L. SPEARING, late of Cumberland County, Pennsylvania, died testate on June 27, 2012; having first made his Last Will and Testament dated May 5, 2009, which instrument was admitted to probate and is recorded in Cumberland County Courthouse, Register of Wills, File No. 2112-0768; WHEREAS, STEPHEN L. SPEARING has been duly appointed as Executor of the Estate of Jeffrey L. Spearing, Deceased, and ;,_. c© . ~ ~rn m WHEREAS, the parties in interest are: ~ ~ ~? ~_- ~~Ta ~o =°- ~-- ~ ~ C-ar 1. Stephen L. Spearing, brother; ~ " -`~- ~= ~ ~`'~~ r~'' ~ co°5 ,~ 2. Scott M. Spearing nephew; ~.,; q - • ~ , , , .., . ~ , 3. Kimberly M. Humrichouser, niece; and ~ ~ ,. -• *;°~ . ~~~ ~,~ ~, ~ -~ 4. Erica L. Fortini, grandniece. WHEREAS, STEPHEN L. SPEARING is entitled to nine-sixteenths (9/16) of the residuary property; WHEREAS, SCOTT M. SPEARING, KIMBERLY M. HUMRICHOUSER, and ERICA L. FORTINI are each entitled to seven-forty-eighths (7/48) of the residuary property; 1 . e WHEREAS, the Estate, after payment of debts and administrative expenses, has no assets available for distribution to the residuary beneficiaries; WHEREAS, each of the parties to this Agreement have been furnished with a complete listing of the estate assets, receipts and disbursements as set forth on the Statement of Account as attached hereto and marked as Exhibit A; WHEREAS, it is the desire of the parties to this agreement that administration of this estate be completed and accomplished without a formal accounting and adjudication in the Orphans' Court Division of the Court of Common Pleas of Cumberland County, it being the desire of the parties to avoid the additional expense, delay and publicity of a formal accounting. NOW, THEREFORE, WITNESSETH, in consideration of the mutual promises, covenants and agreements recited herein, the parties do agree as follows: 1. STEPHEN L. SPEARING, Executor, does hereby state that he has fully and faithfully discharged the duties of his office, and the Statement of Account (Exhibit A) is true and correct and fully discloses all significant transactions during the accounting period. He further states that all known claims against the Estate have been paid in full, and to the best of his knowledge there are no claims outstanding against the Estate and all taxes presently due from the Estate have been paid. 2. Each of the parties to this Agreement does hereby release and forever discharge the said Executor, STEPHEN L. SPEARING, his heirs, executors, administrators and assigns, JAN L. BROWN & ASSOCIATES, attorneys at law, and JACQUELINE A. KELLY, ESQUIRE from any and all liability which may from time to time arise in connection with their service as Executor and Attorneys of the Estate of Jeffrey L. Spearing. The parties do further 2 agree to indemnify and hold them harmless from any and all liability which may arise against the Estate from creditors or claimants. 3. Each of the parties does hereby acknowledge receipt of the assets described on the Schedule of Distribution attached hereto. 4. Each of the parties acknowledges that the terms of this Agreement shall be binding upon their respective heirs, successors, administrators and assigns. 5. Each of the parties do further agree with each other and the aforesaid Executor that should any liability come due to the Estate of the said decedent after the signing of this Agreement, each will contribute pro rata his/her share of the Estate to satisfy any and all claims, demands, suits or causes of action which may be successfully prosecuted against the said Estate or the aforesaid Executor after the signing, sealing and delivery of this Agreement. 6. This Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. 3 IN WITNESS WHEREOF, I have hereunto set my hand and seal thi~ day of s , 2012. WITNESS: STEPH N L. SPEARIN cecutor and Beneficiary COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF DAUPHIN On this the ~ day of S , 2012 before me, a Notary Public, the undersigned officer, personally peace STEPHEN L. SPEARING, known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. N tary P lic NO7ARIA~ SEA-`" ~~OUELINE A KELLY LOYYER PA1(T0N ~, 0, AlN~FNN COt1NTY ~ Cow=~ E~~ Otc 17, 2015 4 r. ~~ t5 ~ :u4 t r 0 r ~C I~ ESS WHEREOF, I have hereunto set my hand and seal this ~ '~ da of Y 2012. WITNESS: COMMONWEALTH OF PENNSYLVANIA COUNTY OF DAUPHIN SS: On this the ~ 1~~ day of ~~ e y~Gl , 2012 before me, a Notary Public, the undersigned officer, personally appeazed SCOTT M. SPEARING, known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. N ry blic NOTARIAL SEAL JACDUELINE A KELLY Notary Public LOWER PAXTON TWP, DAUPHIN COUNTY My Commission Expires Dec t ~, 2015 5 ,:»,-~ .... ~ is a: .. ~ ..., ...,~.,_... w.. • . ~ 1N WITNESS WHEREOF, I have hereunto set my hand and seal this ~ day of ~D~C ern ~e v , 2012. WITNESS: KIMBERLY M. HUMRICHOUSE , Beneficiary STATE OF OHIO SS: COUNTY OF ; On this the ~_ day of ~-~ , , 2012 before me, a Notary Public, the undersigned officer, personally appeared KIMBERLY M. HUMRICHOUSER, known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument, and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and o~ al. ... ~~NINNNN~I//,-O V ~~'wtAL B~ y _. ~~ '<_ ~R t taaeE. wtraar Not ~ STATE OF OHIO * * ~ NIY OOMMH6E101! FxQIpE4 09J1ML4 '' Sh a~n~~a~`O r 6 IN WITNESS WHEREOF, I have hereunto set my hand and seal this ~ day of '` , 2012. WITNESS: RICA L. F RT ,Beneficiary COMMONWEALTH OF PENNSYLVANIA : ~. SS: COUNTY OF . On this the ~ day of 1 , 2012 before me, a Notary Public, the undersigned officer, personally appeared ERICA L. FORTINI, known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument, 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 coMr+oNwE~TH of PENNSrivaNia Nolartal Seal Erin Staab, Notary Pudk Manor Twp., Lancaster County Commi~gon D~c.3 2014 M!M!!q, VMU AliOQA Of AR1lS 7 ESTATE OF JEFFREY L. SPEARING DATE OF DEATH DEATH JUNE 27, 2012 SUMMARY STATEMENT OF ACCOUNT ACCOUNTING PERIOD 6/27/2012-12/30/2012 Assets -Schedule A Income -Schedule B Disbursements -Schedule C Assets Available for Distribution Distributions to Beneficiaries -Schedule D $ 12,365.15 $ 2.34 $ (12,367.49) $0.00 $0.00 6/27/12-12/30/12 Exhibit A ESTATE OF JEFFREY L. SPEARING DATE OF DEATH JUNE 27, 2012 ASSETS SCHEDULE A DESCRIPTION VALUE AT DATE OF DEATH CASH Belco Community Credit Union; Savings Account #0001 Belco Community Credit Union; Checking Account #0040 Belco Community Credit Union; Money Market Account #0060 $ $ $ 14.39 2,308.81 540.63 BONDS U.S. Savings Bonds -Series EE'` $ 1,551.32 VEHICLE 2005 Pontiac Grand Prix** $ 7,500.00 OTHER Verizon death benefit towards funeral expenses $ 450.00 $ 12,365.15 `A portion of this asset (namely $351.32) represents money received after the decedent's death that was attributable to activities and efforts of the decedent before death. It is included in the decedent's gross estate and in gross income when received (income in respect of a decedent). Said income will be reported on the personal and/or fiduciary income tax return. "*Value of the car as reported on the Inheritance Tax Return is different because the value reported on the Inheritance Tax Return was $7,506, which was based on the Kelley Blue Book value, but the actual proceeds were $7,500. 6/27/12-12/30/12 ESTATE OF JEFFREY L. SPEARING DATE OF DEATH JUNE 27, 2012 INCOME SCHEDULE B DESCRIPTION Interest Income Belco Community Credit Union Money Market acct #0060 U.S. Savings Bonds -Series EE; post death interest TOTAL INCOME $ 0.06 $ 2.28 $ 2.34 6/27/12-12/30/12 ESTATE OF JEFFREY L. SPEARING DISBURSEMENTS SCHEDULE C DESCRIPTION CATEGORY AMOUNT Hoover Funeral Homes & Crematory, Inc. Funeral $ 3 875.20 Roberger Memorials; gravemarker Funeral $ , 700 00 Register of Wills; probate fees Adm $ . 75 50 Register of Wills; additional probate fees Adm $ . 40 00 Register of Wills; Inheritance Tax Return & Inventory filing fees Adm $ . 30 00 Register of Wills; Family Settlement Agreement filing fee Adm $ . 20 00 Cumberland Law Journal; legal advertising Adm $ . 75 00 The Sentinel; legal advertising Adm $ . 178 92 Jan L Brown 8~ Associates; legal fee Adm $ . 4 500.00 Stephen L. Spearing; Executor fee Adm $ , 1 666.43 American Income Life; debit cleared after death Debt $ , 13 00 Visa; outstanding debt Debt $ . 672 79 Capital One, N.A.; outstanding bill Debt $ . 505 65 Pinnacle Health Med Svcs; outstanding medical bill Debt $ . 15.00 $ 12,367.49 Note: no disbursement is shown for inheritance taxes or funeral expenses because these expenses and taxes have been paid out of other funds passing by beneficiary designations or otherwise. 6/27/12-12/30112 ESTATE OF JEFFREY L. SPEARING DATE OF DEATH JUNE 27, 2012 DISTRIBUTIONS TO BENEFICIARIES ACCORDING TO TERMS OF WILL DATED MAY 5, 2009 SCHEDULE D Stephen L. Spearing, brother, 9/16 of the residuary estate $0.00 Scott M. Spearing, nephew, 7/48 of the residuary estate $0.00 Kimberly M. Humrichouser, niece, 7/48 of the residuary estate $0.00 Erica L. Fortini, grandniece, 7/48 of the residuary estate $0.00 $0.00 6/27/12-12/30/12