Loading...
HomeMy WebLinkAbout01-07-13ESTATE SETTLEMENT AGREEMENT This Agreement is made the °L day of November, 2012, by and arn~ng PEGGSUE ;~,~ . ~ ~a ~ SPELLMAN, the Executrix o~ e Estate of DOROTHY C. RICE, dec~e~,; and PEGG~ ~~, SUE SPELLMAN JANE LOUISE RICE and GLORIA JEAN STON( Resi~u~ar ~~~ ~~' > s __ y ~:J ~ ~ .~w~ Beneficiaries; and grandchildren, NATALIE STONGE, JARED STON~~~~T~ ~~ _ ~~ ,~ SPELLMAN, SARAH SPELLMAN, ZACHARY SPELLMAN, and C I', --~ a-~ ~- SPELLMAN, Beneficiaries of Class Gifts of the said Estate, herein col£~~tve~~ refe,~red. -; - to as the Beneficiaries. ~~ W ~ -- ~+ ' . ~.:::~ .. rte'. - ~ ~~ -; In accordance with their desire that the administration of the Estate of Dorothy C. dice, deceased be terminated without the expense and delay of a court accounting, the pies hereto, in consideration of the mutual covenants herein expressed, and intending to be legally bound hereby, agree that: 1. The estate of DOROTHY C. RICE, who died February 26, 2010, is now in the process of administration, Letters Testamentary having been duly granted the Executrix by the Register of Wills of Cumberland County on March 22, 2010. 2. Under the provisions of Clause II of the decedent's Last Will, the specific sum of $2000 each was bequeathed to all unmarried grandchildren, and by Clause III, decedent's three daughters were given equal shares of the residuary estate. 3. The parties acknowledge that the Executrix has received the assets and made or shall complete the payments set forth in the inheritance tax return, a copy of which is attached hereto as Exhibit A and made a part hereof, and the parties approve the said instrument of record in its entirety. 4. The parties hereto agree that the balance of the estate assets shall be distributed as set forth in Exhibit A. Without intending to limit the rights or remedies of the beneficiaries, the parties further agree to indemnify the Executrix and save the Executrix harmless against all liability, loss, and expense (including, but not limited to, costs and counsel fees) which the estate may incur, whether due to the Executrix`s negligence or otherwise, as a result of making the above-described distributions without a court audit. 5. Should any proper liabilities of the estate, whether for taxes or otherwise, arise or come to the attention of the Executrix or any of the other parties thereafter, the beneficiaries agree to be jointly and severally liable therefore and the residuary beneficiaries shall reimburse the estate in equal shares for any said liabilities to be paid. 6. The parties, and each of them, hereby forever fully release, compromise, settle and discharge any and all claims, demands, actions or causes of action, legal or equitable, absolute or contingent, vested or hereafter to accrue, which any of them may have against any other party hereto or against the estate of Dorothy C. Rice, deceased, or the Executrix thereof, by reason of any matter, cause or thing growing out of or relating to any property or assets of the said estate, or growing out of or relating to any act of the Executrix, in her J3 ~,~,~ administration of said estate, even if attributable to negligence, and agree that any period for the limitation of actions commence only at such time as the Executrix shall have obtained actual knowledge of such erroneous distribution or distributions and that in no event shall the period for collection of any erroneous distribution or distributions be less than two years after the actual discovery thereof by the Executrix. 7. The parties agree to execute such additional releases as the Executrix may submit to them in order to confirm their discharge from any further liability to the parties in connection with the said estate. 8. The foregoing provisions which apply to the Executrix, shall apply also to any fiduciary who may be appointed in connection with any ancillary administration which may be required in order to complete distributions in other jurisdictions. 9. This Agreement may be executed in multiple counterparts and, when so executed, shall be binding upon all the parties, and their respective heirs, next-of--kin, personal representatives and assigns. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. DATE ~ / ~- DATE i ~ ~~ r ~~- DATE DATE DATE DATE EXECUTRIX OF THE ESTATE OF DOROTHY C. RICE ~ ~, .SEAL) P G UE SPEL MAN BENEFICIARIES. UNDER THE WILL OF DOROTHY C. RICE ..r ~ ~~ r~ (SEAL) ~ ~ PEG SUE SP LMAN (SEAL) JANE LOUISE RICE (SEAL) GLORIA JEAN STONGE (SEAL) NATALIE STONGE (SEAL) JARED STONGE DATE DATE ~/ ~ ~ ;.~ ~ ~~Z DATE DATE ( ~ Zo1v (SEAL) JOHN SPELLMAN ~ `. ~ (SEAL ,~-~ ~ ~_ SARAH'S LLMAN (SEAL) ZACHARY SPELLMAN ~ ~~yv (SEAL) ~ PELLMAN C_~i~.t~ ESTATE SETTLEMENT AGREEMENT FOR ESTATE OF DOROTHY C. RICE, DECEASED ACKNOWLEDGEMENT COMMONWEALTH OF PENNSYLVANIA) COUNTY OF ~"~`~Cr~~ ) ~ ~~ ~~~ 2012 before me the undersi ed officer, On this, the ~-~ day of ~ ~ ~ personally appeared ~A KZA t.}_i t ~ ~e~~~, ~ pG t;~v ~( 5~~~.~.-r r~~! of the Last Will and Testament of DOROTHY C. RICE, Deceased, late of the Borough of Carlisle, Cumberland County, Pennsylvania, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instru ent, and acknowledged that he/she executed same in the capacity therein stated and or the pu ~ ses therein contained. ~, IN WITNESS WHEREOF, I hereunto set my I~ ~ ~ ~' ! (SEAL) Notary Publi L OfMMONWEALTH OF PENNSYLVANIA ~ ~ ~' ~~~ C ~~ NOTARIAL SEAL ` a KEVIN M. CAFFREY, Notary Public Susquehanna Twp., Dauphin County iwy Commission Expires September 13, 2013 administration of said estate, even if attributable to negligence, and agree that any period for the limitation of actions commence only at such time as the Executrix shall have obtained actual knowledge of such erroneous distribution or distributions and that in no event shall the period for collection of any erroneous distribution or distributions be less than two years after the actual discovery thereof by the Executrix. 7. The parties agree to execute such additional releases as the Executrix may submit to them in order to confirm their discharge from any further liability to the parties in connection with the said estate. 8. The foregoing provisions which apply to the Executrix, shall apply also to any fiduciary who maybe appointed in connection with any ancillary administration which may be required in order to complete distributions in other jurisdictions. 9. This Agreement may be executed in multiple counterparts and, when so executed, shall be binding upon all the parties, and their respective heirs, next-of--kin, personal representatives and assigns. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. EXECUTRIX OF THE ESTATE OF DOROTHY C. RICE DATE DATE DATE />~ r`~=' ~,, , ~-~ -_ J i DATE DATE DATE f.~- ~'~~ (SEAL) PEGGY LLMAN ~~ BENEFICIARIES UNDER THE WILL OF DOROTHY C. RICE .~ °~ ~' ~ (SEAL) PEGGY E S~ELf,lyIAN '% ~rf'JANE LOUISE RICE tl /' ,~ '' (SEAL) GLORIA ,~L`~5~'ONGE (SEAL) NA=F°A~~~T~NGE .~--~ (SEAL) J TONGE ESTATE SETTLEMENT AGREEMENT FOR ESTATE OF DOROTHY C. RICE, DECEASED ACKNOWLEDGEMENT ~~~ ~f ~ ~ i~ ~~- c - COUNTY OF ~ ~~~'`""~'"` ) On this, the ~ ~~i day of ~; ~-= ~~ 2012, before me, the undersigned officer, personally appeared S t~, ~ L ~' '~ ~ '~ ~ - c_si_ of the Last Will and Testament of DOROTHY C. RICE, Deceased, late of the Borough of Carlisle, Cumberland County, Pennsylvania, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he/she executed same in the capacity therein stated and for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ,~___ ,~,~.,t,:~%;,~---~ Lam. ~~ (SEAL) Notary Public administration of said estate, even if attributable to negligence, and agree that any period for the limitation of actions commence only at such time as the Executrix shall have obtained actual knowledge of such erroneous distribution or distributions and that in no event shall the period for collection of any erroneous distribution or distributions be less than two years after the actual discovery thereof by the Executrix. 7. The parties agree to execute such additional releases as the Executrix may submit to them in order to confirm their discharge from any further liability to the parties in connection with the said estate. 8. The foregoing provisions which apply to the Executrix, shall apply also to any fiduciary who maybe appointed in connection with any ancillary administration which may be required in order to complete distributions in other jurisdictions. 9. This Agreement may be executed in multiple counterparts and, when so executed, shall be binding upon all the parties, and their respective heirs, next-of--kin, personal representatives and assigns. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. EXECUTRIX OF THE ESTATE OF DOROTHY C. RICE DATE DATE DATE DATE try l 7 ~%f ~, DATE DATE ---_ (SEAL) PEGGY SUE SPELLMAN BENEFICIARIES UNDER THE WILL OF DOROTHY C. RICE ~~ ~~SEAL) PEGGY SUE SPELLMAN - (SEAL} JANE LOUISE RICE ' ~ r? l . /F ' ~ ~ ~~ ~~~ ~ ~ ~~ L ~ ,fl e ` ) .LORI AN STONG ------ -------- - (SEAL) NATALIE STONGE (SEAL) JARED STONGE ESTATE SETTLEMENT AGREEMENT FOR ESTATE OF DOROTHY C. RICE, DECEASED ACKNOWLEDGEMENT COMMONWEALTH OF PENNSYLVANIA) COUNTY OF ~ ~ ~}''~c ~~- ~ ~~ ) On this, the 1 ~ day of h~~r~m~~ 2012, before me, the undersigned officer, personally appeared Cam- F- ©~=' ~ ~? ~S c: ~ ~~ ~ 7'~ ~ ~- ~"-- of the Last Will and Testament of DOROTHY C. RICE, Deceased, late of the Borough of Carlisle, Cumberland County, Pennsylvania, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he/she executed same in the capacity therein stated and for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ~~'~ ~ SAL) COMMONWEALTH OF PENNSYLVANIA Notary Public Notarial Seal Patrkia Shaffer, Notary Pubik Lower Allen Twp., Cumberland County My Commission Expires het. 6, 2015 MEMBER, PENNSYLVANIA ASSOCIATION OF NOTARIES administration of said estate, even if attributable to negligence, and agree that any period for the limitation of actions commence only at such time as the Executrix shall have obtained actual knowledge of such erroneous distribution or distributions and that in no event shall the period for collection of any erroneous distribution or distributions be less than two years after the actual discovery thereof by the Executrix. 7. The parties agree to execute such additional releases as the Executrix may submit to them in order to confirm their discharge from any further liability to the parties in connection with the said estate. 8. The foregoing provisions which apply to the Executrix, shall apply also to any fiduciary who may be appointed in connection with any ancillary administration which may be required in order to complete distributions in other jurisdictions. 9. This Agreement may be executed in multiple counterparts and, when so executed, shall be binding upon all the parties, and their respective heirs, next-of--kin, personal representatives and assigns. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. EXECUTRIX OF THE ESTATE OF DOROTHY C. RICE DATE DATE ~_ _~ _.. DATE DATE . _._.__ __ _ DATE ~ = ~'~ `Z. U ~ Z..._ ___ _ _ DATE (SEAL) PEGGY SUE SPELLMAN BENEFICIARIES UNDER THE WILL OF DOROTHY C. RICE ____ _. _ ._ _ _ (SEAL) PEGGY SUE SPELLMAN (SEAL) JANE LOUISE RICE (SEAL) GLORIA JEAN ST _ NGE ~~. ~~ ` ~ ~ ~ L i~~ ~ I (~~~ ~ ~ SEA NATALIE STONGE (SEAL) JARED STONGE ESTATE SETTLEMENT AGREEMENT FOR ESTATE OF DOROTHY C. RICE, DECEASED ACKNOWLEDGEMENT COMMONWEALTH OF PENNSYLVANIA) OUNTY OF ~ ~--~'~'~~~'~ ~~``~~ C ) On this, the /~'~ day of ~ ~~~' G ~''~~~2012, before me, the undersigned officer, personally appeared N ~' ~ ~~ ~- ~ ~ ~ ~~~~ ~'~ of the Last Will and Testament of DOROTHY C. RICE, Deceased, late of the Borough of Carlisle, Cumberland County, Pennsylvania, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he/she executed same in the capacity therein stated and for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal r r,_ / %~~ ~ EAL) COMMONWEALTH OF PENNSYLVANIA Notary Public Notarial Seal Patrida Shaffer, Notary Public Lower Allen Twp., Cumberland County Commission Expires Dec. 6, 2015 MEMBER, PENNSYLVANIA ASSOCIATION OF NOTARIES administration of said estate, even if attributable to negligence, and agree that any period for the limitation of actions commence only at such time as the Executrix shall have obtained actual knowledge of such erroneous distribution or distributions and that in no event shall the period for collection of any erroneous distribution or distributions be less than two years after the actual discovery thereof by the Executrix. 7. The parties agree to execute such additional releases as the Executrix may submit to them in order to confirm their discharge from any further liability to the parties in connection with the said estate. 8. The foregoing provisions which apply to the Executrix, shall apply also to any fiduciary who maybe appointed in connection with any ancillary administration which may be required in order to complete distributions in other jurisdictions. 9. This Agreement may be executed in multiple counterparts and, when so executed, shall be binding upon all the parties, and their respective heirs, next-of--kin, personal representatives and assigns. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. EXECUTRIX OF THE ESTATE OF DOROTHY C. RICE DATE -~~EAL) PEGGY SUE SPELLMAN BENEFICIARIES UNDER THE WILL OF DOROTHY C. RICE DATE ~ ~ _._. ____ _r____a_.~_____.__.~__ (SEAL) PEGGY SUE SPELLMAN DATE `~-------A- ~~ EAL) JANE LOUISE RICE DATE (SEAL) GLORIA JEAN STONGE `~~~ DATE ~ SEAL ( ) NATALIE STONGE ____..__ ~ DATE t ~- l ~~ 1~~ ' (SEAL) ~ D STONG J L fr' ESTATE SETTLEMENT AGREEMENT FOR ESTATE OF DOROTHY C. RICE, DECEASED ACKNOWLEDGEMENT COMMONWEALTH OF PENNSYLVANIA) TY OF ~ ~' m~~~~~~,' COUN ) On this, the ~ ~ day of /~ ~ tr. ~"`'~ ~~201~2, before me, the undersigned officer, personally appeared :s ~=~~~- ~ ~ .C Y~~ ~'" `=~ of the Last Will and Testament of DOROTHY C. RICE, Deceased, late of the Borough of Carlisle, Cumberland County, Pennsylvania, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he/she executed same in the capacity therein stated and for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. -~~ ~L) COMMONWEALTH OF PENNSYLVANIA Notary Public ~` ~" ;~ Notarial Seal Patrida Shaffer, Notary PrJblic Lower Allen Twp., Cumberland Canty Mly Commission Expires Dec. 6, 2015 MEMBER, PENNSYLVANIA ASSOCIATION OF NOTARIES f DATE '~,~~ DATE DATE DATE w^~ . _ -R s,~ :^~ o ~,, MICNt ~r1CD0NALD ~ ' ~ * :"' Notary F~., Mate of Florida = •- "~ * ;N,* ~ My Comm }(' 'c:s Jun 10, 2013 1 ...._..__ ~'i ~FOF FLOa~O`. ,,,~~ ~~~~ Comm~r~~, ~ GU 897809 JOI-~N SPEL AN SARAH SPELLMAN ZACHARY SPELLMAN (SEAL (SEAL) (SEAL) CABBIE SPELLMAN ESTATE SETTLEMENT AGREEMENT FOR ESTATE OF DOROTHY C. RICE, DECEASED ACKNOWLEDGEMENT COMMONWEALTH OF PENNSYLVANIA) COUNTY OF ~ ~ da of ~ ~ "~~~' l 2012, before me, the undersi ed officer On this, the ~,~'' y ~ ?Cc ~ gn , personally appeared ` f ~;~ ~~~ ~t.~~,~~ ~,~~.~ ~ of the Last Will and Testament of DOROTHY C. RICE, Deceased, late of the Borough of Carlisle, Cumberland County, Pennsylvania, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he/she executed same in the capacity therein stated and for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official s~.l. f,,~- Notary Public ~~~Q<°'RY A~e~~~~ MICNEIE L. MCDONALD ?* ::= Notary Public -State of Florida ;~, : 'r My Comm. Expires Jun 10, 2013 o. '~%',F~o ~~ ~q~:~~ Commission # DD 897809 }' ~ DATE DATE DATE < < ~`'~ ~~~1~ JOHN SPELLMAN (SEAL) (SEAL SARAH SPELLMAN ~ v^ t, ~ ~, ~. (SEAL) ZACHAR SPE LMAN DATE (SEAL) CABBIE SPELLMAN r ~~ ~ ' ~ ESTATE SETTLEMENT AGREEMENT FOR ESTATE OF DOROTHY C. RICE, DECEASED ACKNOWLEDGEMENT COMMONWEALTH OF PENNSYLVANIA) COUNTY OF ) On this, the ~, ~ day of ~~~~~~.<> >~^..~' , 2012, before me, the undersigned officer, personally appeared Z. ~ ~~ ;,~ ~ ~j ~_ ~~ ~i,~~ of the Last Will and Testament of DOROTHY C. RICE, Deceased, late of the Borough of Carlisle, Cumberland County, Pennsylvania, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he/she executed same in the capacity therein stated and for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. CONVI~(7NWEAl°fN ©F PENNSYLVANIA r r Notary Notarial Seal ~.-~ (Sl~th A. Kessler, Notary Public b11C ~ Lower Allen Twp., Cumberland County My Commission Expires June 7, 2015 MEMBER. PFNNS~I~.VAhI?A ASSC!CIATlON OF NOTE ,, ~~_; ; ~~-;~`1 ;~` CL."`~ NOTICE OF INHERITANCE TAX BUREAU OF INDIVIDUAL TAX,~S APb1FI~ MENT, ALL~OWANCc OR DISALLOWANCE INHERITANCE TAX DIVISION ~'- ~ ~ - ~ OF-~-D'EDUCTIONS AND ASSESSMENT OF TAX PO BOX 280601 HARRISBURG PA 17128-0601 - ~ GL~R!~ r_,~- LI i! '/+ ~ i ~~ ~~ 1, Li ._i ~ , WILLIAM S DANIELS STE 205 1 W HIGH ST CARLISLE PA 17013-2951 C1) 36,810.70 (2) . 0 0 (3) .00 (4) .00 C5) 39,451.91 (6) .00 (7) 1 , 534.21 CUT-ALONG-THIS LINE _--~ R_ETA_IN LOWER POR_TION_ FOR YOUR RECORDS ~-- _ _______________ REV-1547 EX AFP (12-11~ NOTICE OF INHERITANCE TAX APPRAISEMENT, ALLOWANCE OR DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX ESTATE OF: RICE D[lR[ITHY (FILE Nn_ X77 ln_n7st~ eCN. ~ni neTG. ni_-~z_~ni~ TAX RETURN WAS: C X) ACCEPTED AS FILED ( ) CHANGED APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN 1. Real Estate (Schedule A) 2. Stocks and Bonds (Schedule B) 3. Closely Held Stock/Partnership Interest (Schedule C) 4. Mortgages/Notes Receivable (Schedule D) 5. Cash/Bank Deposits/Misc. Personal Property (Schedule E) 6. Jointly Owned Property (Schedule F) 7. Transfers (Schedule G) 8. Total Assets APPROVED DEDUCTIONS AND EXEMPTIONS: 9. Funeral Expenses/Adm. Costs/Misc. Expenses (Schedule H) 10. Debts/Mortgage Liabilities/Liens (Schedule I) ,~~ r, pennsylvania'_ ~, -~ DEPARTMENT OF REVENUE ~~ REV-1547 EX AFP (12-11) NOTE: To ensure proper credit to your account, submit the upper portion of this form with your tax payment. (8) 77,796.82 C9) 6 , 509.1 1 (lo) 7,575.44 11. Total Deductions C11) 14,084.55 12. Net Value of Tax Return (12) 63,712.27 13. Charitable/Governmental Bequests; Non-elected 9113 Trusts (Schedule J) C13) .0 0 14. Net Value of Estate Subject to Tax (14) 63,712.27 NOTE: If an assessment was issued previously, lines 14, 15 and/or 16, 17, 18 and 19 will reflect figures that include the total of ALL returns assessed to date. ASSESSMENT OF TAX: 15. Amount of Line 14 at Spousal rate (15) .00 X 00 = .00 16. Amount of Line 14 taxable at Lineal/Class A rate (16) 63.7'1 7 X 045 = 2,867.05 17. Amount of Line 14 at Sibling rate (17) .0 0 X 12 = .00 18. Amount of Line 14 taxable at Collateral/Class B ra te (18) .D 0 X 15 = .00 19. Principal Tax Due (19)= 2,867.05 TAX CREDITS: PAYMENT DATE RECEIPT NUMBER DISCOUNT (+) INTEREST/PEN PAID (-) AMOUNT PAID 05-19-2010 CD012774 138.95 2,640.00 10-24-2011 CD015107 2.48- 95.00 DATE 04-23-2012 ESTATE OF RICE DOROTHY C DATE OF DEATH 02-26-2010 FILE NUMBER 21 10-0283 COUNTY CUMBERLAND ACN 101 APPEAL DATE: 06-22-2012 (See reverse side under Objections) Amount Remitted MAKE CHECK PAYABLE AND REMIT PAYMENT T0: REGISTER OF WILLS 1 COURTHOUSE SQUARE CARLISLE PA 17013 TOTAL TAX PAYMENT 2,871.47 BALANCE OF TAX DUE 4.42CR INTEREST AND PEN. .00 TOTAL DUE 4.42CR * IF PAID AFTER DATE INDICATED, SEE REVERSE IF TOTAL DUE IS REFLECTED AS A "CREDIT" (CR), YOU MAY BE DUE FOR CALCULATION OF ADDITIONAL INTEREST. A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTIONS.f,~~