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HomeMy WebLinkAbout02-27-13ESTATE OF SHERLEY A. SHIELDS File No. 21-12-0274 7.J ~© ~~ 00 m = n ~~,.r r~rn ~~~ z -~ °~~ ~~-~ ~~ 'T7 ~ C«°'~ ~~A.) -T, r~ rn N _..~ N FAMILY SETTLEMENT AGREEMENT c~ 22'~r~. THIS AGREEMENT made this day of , 2013, BETWEEN: MICHAEL SHIELDS, being the legatee under the Last Will and Testament of Sherley A. Shields, late of the Township of Southampton, Cumberland County, Pennsylvania, AND MICHAEL SHIELDS, Executor of the Estate under the Last Will and Testament of Sherley A. Shields, deceased, WHEREAS, Sherley A. Shields died February 22, 2012, testate, and under her Will left her estate to the party herein; and WHEREAS, Letters Testamentary were granted to Michael Shields on March 2, 2012, by the Register of Wills of Cumberland County, Pennsylvania; and WHEREAS, all assets of the late Sherley A. Shields have been liquidated or distributed and all her debts paid in full, and further the period of four months having been terminated since the first advertisement of the issuance of Letters to the said Executor, the said party hereto desires to waive the duty of the Executor to file a First and Final Account with Proposed Schedule of Distribution for purposes of confirmation by the Court of Common Pleas of Cumberland County, Orphan's Court Division, rnrn ~~ c~ ~~ ~~ ~i f°~1 ~ ~ o~ ~rn ~~ -- ~ ~-~ ; ~~ ~" C!~ O WEIGLE & ASSOCIATES, P. C. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257-1397 AND FURTHER desires that a Family Settlement Agreement be executed, which Family Settlement Agreement will be duly recorded among the deed records in and for Cumberland County. NOW, THEREFORE, WITNESSETH, that the party hereto, in consideration of the premises above stated, and of the Accounting and Proposed Schedule of Distribution attached hereto and made a part hereof, and the receipt of his distributive share as therein shown, does bind himself to the said Distribution and Accounting as set forth and further mutually releases Michael Shields, Executor, from all claims and demands whatsoever arising out of settlement of the Estate of Sherley A. Shields. The party hereto does further agree that should any liability come due to the estate of the said decedent after the signing of this agreement, he does hereby covenant and agree with the aforesaid personal representative that he will contribute pro rata his 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 personal representative after the signing, sealing and delivery of this family settlement agreement and final release. IN WITNESS WHEREOF, the party has hereunto set his hand and seal the day and year first above written. WITNESS: G, 1,,~. ~l Shields ~~i~ (SEAL) WEIGLE & ASSOCIATES, P.G. -ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257-1397 COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF CUMBERLAND v~ ~ ~ ~ , On this, the G-~- ~ day of 2013, before me, the undersigned officer, personally appeared MICHAEL SHIELDS, 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. ~-'~' --~~ SEAL ~ ) Notarial Seal Unda K. Klein, Notary Public Shippensburg, PA Cumberland County Commission E fires Autust 15, 201 F; WEIGLE & ASSOCIATES, P.C. -ATTORNEYS AT LAW - 126 EAST KING STREET - SH-PPENSBURG, PA 17257-1397 In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-12-0274 _ Estate of Sherley A. Shields, Deceased Late of Township of Southampton First and Final Account Michael Shields, Executor Date of Death: 02/22/2012 Date of Incapacity, if any: None Date of Executor's Appointment: 03/02/2012 Date of First Complete Advertisement: 04/06/2012 Accounting for the period: 02/22/2012 to 02/19/2013 Purpose of Account: Michael Shields, Executor, offers this Account to acquaint interested parties with the transactions that have occurred during the Administration. It is important that the Account be carefully examined. Requests for additional information or questions or objections can be discussed with: Jerry A. Weigle Esquire Weigle & Associates, P.C. 126 East King Street Shippensburg, PA 17257 717/532-7388 Supreme Court I.D. No. 01624 SUIV~MARY OF ACCOUNT Estate of Sherley A. Shields, Deceased For the eeriod of February ?,_,.,?~ 2012 throo~h F br ~an~99, 2013 Proposed Distributions to Beneficiaries PRINCIPAL Receipts: This Account Net Gain (or Loss) on Sales or Other Dispositions Less Disbursements: Debts of Decedent Funeral Expenses Administration Expenses Federal, State 8~ Local Taxes Commissions Fees Family Exemption Balance Before Distributions Transfer to (from) Principal . Distributions to Beneficiaries Principal Balance on Hand For Information: Investments Made Changes in Holdings INCOME Receipts This Account Net Gain (or Loss) on Sales or Other Dispositions Less Disbursements Balance Before Distributions: Transfer to (from) Income Distributions to Beneficiaries Income Balance on Hand For Information: Investments Made Changes in Holdings COMBINED BALANCE ON HAND Signature Verification Fiduciary Current Acquisition PAGES Value Value 12 4,482.76 4,482.76 3 4 4 4 - 5 5 5 6 7 8 9 r 10 11 13 14 -2- 12,841.68 9,193.00 576.25 3,053.86 0.00 3,418.75 o.oo 113,903.44 0.00 113,903.44 29,083.54 84,819.90 0.00 80,337.29 4,482.61 0.15 0.00 0.15 0.00 0.15 0.00 0.00 0.15 4,482.76 SCHEDULE A RECEIPTS OF PRINCIPAL Assets Listed in Inventory Fiduciary (Valued as of Date of Deaths Acquisition Value ~~ F 8~ M Trust Checking Account 5052351 8,748.71 Accrued interest on above item through date of death 0.16 Prudential AST Preservation Asset Portfolio - 67,206.95 beneficiary Michael Shields, son Prudential Investment Account 69994 -beneficiary 13,130.34 Michael Shields, son Total Cash 89,086.16 Total Receipts 89,o8s.1s 03/09/2012 ~b went Principal Receint4 Contribution from Michael Shields for payment of 3,213.71 debts 03/23/2012 Contribution from Michael Shields for payment of 13,282.84 debts 04/13/2012 Elmcroft -refund 246.50 04/06/2012 Insurance adjustment for medications -refund 7,996.48 03/02/2012 Public Opinion -refund at cancellation 47.04 06/22/2012 Various miscellaneous refunds 30.71 Total Subsequent Principal Receipts 24,817.28 Total Adjustments and Subsequent Receipts 24,817.2s Total Receipts of Principal 113,903.44 -3- SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued 11/16/2012 Linda K. Klein -notary fee 11/16/2012 Register of Wills, Cumberland County -filing PA Inheritance Tax Return 11/16!2012 Weigle 8 Associates, P.C. -reserve for filing Family Settlement Agreement with Register of Wills, Cumberland County 11/16/2012 Weigle 8 Associates, P.C. -reimbursement for postage, xerox copies, and long distance telephone calls Total Miscellaneous Administrative Expenses Federal. State and Local Taxes 05/18/2012 Register of Wills, Cumberland County - PA Inheritance Tax payment at discount 11/16/2012 Register of Wills, Cumberland County -balance of PA Inheritance Tax Total Taxes Fees 04/20/2012 Weigle ~ Associates, P.C. 11/16/2012 Weigle ~ Associates, P.C. Total Fees TOTAL DISBURSEMENTS OF PRINCIPAL 20.00 15.00 75.00 25.00 576.25 3,000.00 53.86 3,053.86 981.25 2,437.50 3,418.75 29,083.54 -5- SCHEDULE D DISTRIBUTIONS OF PRINCIPAL Michael Shields 02/22/2012 Prudential AST Preservation Asset Portfolio 02/22/2012 Prudential Investment Account 69994 67,206.95 13,130.34 80,337.29 TOTAL DISTRIBUTIONS TO BENEFICIARIES 80,337.29 -6- PRINCIPAL BALANCE ON HAND Current Value Fiduciary 02/19/2013 Acquisition # Units Description or as Noted Value Dash Estate Checking Account 4,482.61 4,482.61 Total Cash 4,482.61 4,482.61 4,482.61 4,482.61 -7- SCHEDULE F CHANGES IN PRINCIPAL HOLDINGS # units Prudential AST Preservation A se Portfolio 02/22/2012 Inventoried 02/22/2012 Distributed Prudential Investment Account 69994 02/22/2012 Inventoried 02/22/2012 Distributed Tota I 0.00 67,206.95 -67, 206.95 13,130.34 -13,130.34 0.00 o.oo -8- SCHEDULE G RECEIPTS OF INCOME F & M Trust heckin~ Account 5052351 03/07/2012 interest date of death to closing TOTAL BANK INTEREST TOTAL RECEIPTS OF INCOME 0.15 0.15 0.15 0.15 -9- INCOME BALANCE ON HAND # Units Description ~as6 Estate Checking Account Total Cash -10- Current Value Fiduciary 02/19/2013 Acquisition or as Noted Value 0.15 0.15 0.15 0.15 0.15 0.15 COMBINED BALANCE ON HAND # Units Description Dash Estate Checking Account Current Value Fiduciary 02/19/2013 Acquisition or as Noted Value 4,482.76 4,482.76 Total Cash 4,482.76 4,482.76 4,482.76 4,482.76 -11 - PROPOSED DISTRIBUTIONS TO BENEFICIARIES Current Value 02/19/2013 or as noted TO: i~ichael Shields Residuary Estate -100% -CASH 4.482.76 4,482.76 Fiduciary Acquisition Value 4,482.76 4,482.76 Total 4,482.76 4,482.76 -12- In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-12-0274 Estate of Sherley A. Shields, Deceased Signature ~~~ ~ ~ ~ Michael Shields, Executor -13- ~ " In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-12-0274 Estate of Sherley A. Shields, Deceased Verification Michael Shields, Executor under the Last Will and Testament of Sherley A. Shields, Deceased, hereby declares under oath that he/she has fully and faithfully discharged the duties of his/her office; that the foregoing Account is true and correct and fully discloses all significant transactions occurring during the accounting period; that all known claims against the Estate have been paid in full; that, to his/her knowledge, there are no claims now outstanding against the Estate; that all taxes presently due from the Estate have been paid; and that the grant of Letters Testamentary and the first complete advertisement thereof occurred more than four months before the foregoing Account. This statement is made subject to penalties of 18 Pa. C.S.A. Section 4904 relating to unsworn falsification to authorities. Dated: ~ ~ Michael Shields, Executor ~ -14-