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Home My WebLink About12-07-12 (2) r- r.-_.. ' ~ C Q ~ ~ ` Y1 ~' ~ Ci F:~FD.ES1CIieats\I45~3 ZimmermanU4573.1.atatactgcmen~agr ~r ("~ ~ rn~~ -_~ ESTATE OF MARY MACLAY ZIMMERMAN '`-' ~' ~~ . _•; . '`~ ~, c~ .. CUMBERLAND COUNTY FILE N0.21-11-0129' ~ ~~~ EMENT ~~ ~..~ ESTATE SETTLEMENT AGRE ;~ c.,« e.,a i~'~ ~. THIS AGREEMENT, made this ~iday of ~.~~z~ , 2012, between Carol K. Robison, in her individual capacity and in her capacity as Executrix of the Estate of Mary Maclay Zimmerman, and Ann K. Barber. WITNESSETH: WHEREAS, Mary Maclay Zimmerman, late of the Borough of Carlisle, Cumberland County, Pennsylvania, deceased, died testate on November 29, 2011, having first made a Last Will and Testament, which was duly executed on December 21, 2004, a copy of which is attached hereto as Exhibit "A," and is filed in the Office of Register of Wills of Cumberland County, Pennsylvania, at File No. 21-11-01297; and WHEREAS, Mary Maclay Zimmerman, by Last Will and Testament, named Ann K. Barber and Carol K. Robison as Executrices; and WHEREAS, the said Ann K. Barber renounced her right to serve as Executrix; and WHEREAS, Letters Testamentary were issued by the Register of Wills of Cumberland County, Pennsylvania, to Carol K. Robison, Executrix; and WHEREAS, the Executrix has truly and appropriately administered the Estate of the Decedent; and WHEREAS, the Executrix has filed the appropriate Pennsylvania Inheritance Tax Return for the Estate and the Return has been audited with a determination being issued by the Pennsylvania Department of Revenue accepting the Return as filed; and WHEREAS, the Executrix will timely file the appropriate Pennsylvania and Federal Income Tax Returns for the Estate; and WHEREAS, the Executrix has accomplished the payment of all obligations owing on the Decedent's Estate, except for any final income taxes and attorneys fees for which funds have been reserved; and WHEREAS, the Executrix provided the opportunity to all Beneficiaries to examine all records of the Decedent in the possession of the Executrix and to examine all records of the Estate; and WHEREAS, the Executrix has made various partial distributions to the Beneficiaries; and WHEREAS, the Executrix is prepared to achieve the final distribution of the Decedent's Estate subject to the reserve as set forth below; and h~J WHEREAS, the Executrix and all Beneficiaries desire that the administration of the Estate of the Decedent be terminated without the expense and delay of a court accounting and the Parties are willing to enter into this Estate Settlement Agreement in order to expedite the conclusion of the Estate; and WHEREAS, the Executrix desires to make a distribution to the Beneficiaries, pay attorney's fees owing, retain certain funds in order to finalize any tax returns and any other miscellaneous obligations that may accrue, with any retained funds to be distributed to the Beneficiaries at a later date. NOW, THEREFORE, the parties in consideration of their mutual covenants herein expressed and intending to be legally bound hereby, agree as follows: 1. The above-named Beneficiaries hereby waive the filing of a Formal Accounting and Schedule of Distribution in the Estate of the Decedent. 2. The parties acknowledge that they have been provided with an opportunity to examine all paperwork and accounting of all expenses and revenues from the Estate of the Decedent. 3. The parties acknowledge that should any liability come due to the Estate of the said Decedent after the signing of this Agreement, they hereby covenant and agree with the other heirs and with the aforesaid Executrix that they will contribute pro rata their 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 Executrix after the signing, sealing and delivery of this Estate Settlement Agreement. 4. The parties agree that the Executrix may distribute the remaining assets of the Estate equally between Carol K. Robison and Ann K. Barber subject to any retention of funds which the Executrix feels are appropriate in order to pay any taxes or contingent bills. In the event any funds are retained and after payment of any bills, the Executrix will split equally the balance remaining between Carol K. Robison and Ann K. Barber without any further action required by the parties. 5. The parties hereby forever release, compromise, settle and discharge any and all claims, demands, actions or causes of actions, legal or equitable, absolute or contingent which any of them may have against any other party hereto or against the Estate of Mary Maclay Zimmerman or its Executrix, Carol K. Robison, by reason of any matter or thing growing out of or relating to any property or assets of said Estate, or growing out of or relating to any act of the Executrix in the administration of the Estate. This Release shall release the Executrix from all liabilities, whether due to her negligence or otherwise, which she may have by reason of her administration of the Estate. This Release, however, shall not release the Executrix from any claims relating to fraud or claims relating to any willful action of the Executrix in failing to disclose or account for assets of the Estate which the Executrix may have received. Furthermore, this Release shall not be binding until signing of this Agreement by the Executrix and all named Beneficiaries. 6. Each party acknowledges that she may present this Agreement to her own private attorney for legal advice if such parties desire such individual legal advice. 7. The parties agree that this Agreement shall be binding upon themselves, t'~eir successors, assigns and personal representatives. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. SS: ~, ESTATE OF MACLAY ZIlVIIVIER;MAN Carol K. Robison; Executrix SS: BENEFICIARIES' ~~~. K ~„~ ~~ Carol K. Robison Ann K. Barber This Release shall release the Executrix from all liabilities, whether due to her negligence or otherwise, which she may have by reason of her administration of the Estate. This Release, however, shall not release the Executrix from any claims relating to fraud or claims relating to any willful action of the Executrix in failing to disclose or account for assets of the Estate which the Executrix may have received. Furthermore, this Release shall not be binding until signing of this Agreement by the Executrix and all named Beneficiaries. b. Each party acknowledges that she may present this Agreement to her own private attorney for legal advice if such parties desire such individual legal advice. 7. The parties agree that this Agreement shall be binding upon themselves, their successors, assigns and personal representatives. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. WITNESS: ESTATE OF MARY MA.CLAY ZINIMER:MAN WITNESS: ~~ , ~ r ~~ "~~ .. Carol K. Robison, Executrix BENEFICIARIES: Carol K. Robison Ann K. Barb , LAST WILL OF MARY NIACLAY ZIMNIERMAN I, i~iARY MACLAY ZIMMERNIAN, of Susquehanna Township, Dauphin County, Pennsylvania, (SSN: 200-22-7309), declare this to be my Will, hereby revoking any and all prior wills and codicils. ITEM I: I give and bequeath one-thousand dollars ($1,000.00) to Hood College, of Frederick, Maryland, to be used for its general institutional purposes. ITEM II: I give, bequeath and devise all the rest, residue and remainder of my estate, of whatever nature and wherever situate, unto my daughters. ANN BARBER, of Windham, New Hampshire, and CAROL ROBISON, of Carlisle, Pennsylvania, share and share alike, or their issue, per stirpes. ITEM III: No interest of any beneficiary hereunder shall be assignable by, or available to anyone having a claim against, a beneficiary before actual payment to the beneficiary. ITEM IV: I authorize my executrices, in the exercise of their discretion, and as necessary: (a) To retain and to invest in all forms of real and personal property, regardless of any limitations imposed by law on investments by fiduciaries, or any principle of law concerning investment diversification; (b) To compromise claims and to abandon any property which, in my executrices' opinion, is of little or no value; ~~, } ~~)~~~ Exhibit "A" (c) To borrow from anyone, even if the lender is a fiduciary hereunder, and to pledge property as security for repayment of the funds borrowed; (d) To sell at public or private sale, to exchange or to lease for any period of time, any real or personal property, and to give options for sales or leases; (e) To join in any merger, reorganization, voting-trust plan or other concerted action of security holders, and to delegate the discretionary duties with respect thereto; (fl To allocate any property received or charge incurred to principal or income or partly to each, without regard to any law defining principal and income; (g) To distribute assets in kind. These authorizations shall extend to all property at any time held by my executrices and shall continue in full force until the actual distribution of all such property, except as specifically stated. All powers, authorities and discretion granted by this Will shall be in addition to those granted by law and shall be exercisable without Court authorization. ITEM V: I appoint my daughters, ANN BARBER and CAROL ROBISON, or the survivor of them, as the executrices of this will. No fiduciary acting hereunder shall be required to post bond for the faithful performance of such duties. 2 /~ ~ Z.- ~ ~~TITNESS WHEREOF, I, 1~IARY ~IACLAY ZIMMERitiIAN, herewith set my hand seal to this m last Will, typewritten on pages including the self-proving attestation and ~ Y clause and signatures of witnesses, this ~~ ~ day of December, 2004. Q.k.~. Gn~n~-r.~) MARY MACLAY E~~ Witnessed: residm at 1 ~ ~ `(~- residin at ` f ~~ ~ g residing at 3 ir~m z COMMONWEALTH OF PENNSYLVANIA: ~ ~.~~~~~ TY OF ~ ~ rr COUN SS: `; ~n MARY MACLAY ZII~'IMEPIVIAN (the testatrix), -"'l ~~a-r"`~.s ~'- ~ /~'.~ and (the witnesses), whose names are signed to the foregoing instnunent, being first duly sworn, each herlast declares to the undersigned authority that the testatrix signed and executed the instrument as ed it as will in the presence of the witnesses and that she had signed willingly, and that she execu her free and voluntary act for the purposes therein expressed, and that each of the witnesses, in teir resence and hearing of the testatrix, signed the will as witnesses and that to the best of er no p knowledge the testatrix was at that time eighteen years of age or older, of sound mind and un constraint or undue influence. WITNESS: o' TESTATRIX: ~y~y~cvfiYK1l~~C~ MAR MACLA IMMERMAN WITNESS: ~~~. - ~~- G ' ed sworn to and acknowledged before me by MARY M CLAY ZIMIVIEP:MAN, the Subscnb testatrix and subscri ed d sworn to before me by ~~?' M ~ the -~ ~ and witnesses, this ',o~_ day of December, 2004. U ~- otary Public (SE Notarial Seal Gayle A. George, Notary Public Camp Hill Boro, Cumberland C«unty ;rty Commission Expires June ] 3, '%+116 P:femper "s~onr-. ,w ~-,ni,9 ASSn~,. ~r~ ^ - ~' ~'~' ~' ~ e ~ r7>n l Z