HomeMy WebLinkAbout04-22-13 (2) IN THE ORPHANS' COURT DIVISION
OF THE COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA
ESTATE OF DAWN A. REED, DECEASED -*3
No. 2010-00821
APPROVAL OF ACCOUNT, WAIVER, RECEIPTS; 4
RELEASE AND AGREEMENT OF INDEMNITY
The circumstances leading up to the execution of this instrument are as follows:
1. Dawn A. Reed died on July 29, 2010, leaving a Will dated July 18, 1986, naming
Eric R. Reed as Executor.
2. Letters Testamentary were granted to Eric R. Reed by the Register of Wills of
Cumberland County on August 12, 2010.
3. It is the desire of the Dawn A. Reed heirs that the Estate be distributed without the
formality of a court proceeding in order to save the expense, publicity, and delay incident to
such court proceeding, and the Executor is willing to make such distribution upon the
execution of this instrument.
4. An account of the administration of the Estate of Dawn A. Reed has been prepared
by the Executor. A copy is attached hereto as Exhibit A.
5. In consideration of the foregoing, the undersigned hereby:
A. Represents and warrants that he has read and understands this instrument
and that the facts set forth above are true and correct to the best of his knowledge, information
and belief;
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B. Declares that he has examined the attached account of the administration of
the Estate and the attached schedule of distribution; that he finds them to be true and correct in
all particulars; that he accepts and approves them as if they had been duly filed, audited,
adjudicated and confirmed absolutely by the Orphans' Court Division of the Court of Common
Pleas of Cumberland County, and as if the amounts shown as distributable had been duly
awarded to him;
C. Waives the filing and auditing of the account of the administration of the
Estate in the Orphans' Court Division of the Court of Common Pleas of Cumberland County,
and agrees that the Orphans' Court Division of the Court of Common Pleas of Cumberland
County may by its decree confirm the account and approve the schedule of distribution;
D. Requests the Executor to make distribution of the principal and income in
accordance with the schedule of distribution, and effective upon delivery to him of the amounts
shown as respectively distributable, acknowledges receipt of such property;
E. Agrees to refund to the Executor any amount which may at any time be
determined to have been an erroneous distribution to him, regardless of the cause of such
erroneous distribution, even if attributable to negligence, and agrees that any period for the
limitation of actions for the collection of any erroneous distribution shall commence only at
such time as the Executor shall have obtained actual knowledge of such erroneous distribution
and that in no event shall the period for collection of any erroneous distribution be less than
two years after the actual discovery thereof;
F. Absolutely and irrevocably remises, releases, quitclaims and forever
discharges Eric R. Reed, individually and in his capacity as Executor, from any and all
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actions, suits, payments, accounts, reckonings, liabilities, claims and demands relating in any
way to the administration of the Dawn R. Reed Estate;
G. Agrees to indemnify and hold harmless, to the extent of the funds received
by him hereunder, Eric R. Reed, individually and in his capacity as Executor, from and against
any and all claims, loss, liability or damage (including legal fees and costs in connection
therewith) which he may suffer or to which he may be subjected by reason of his
administration of the Estate, the settlement of his Executor's account and the distribution of the
assets of the Estate without having the formal approval of the Orphans' Court Division of the
Court of Common Pleas of Cumberland County, including, but not limited to, any liability for
any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with
interest and costs incidental thereto, relating in any way to the Estate; and
H. Declares it to be his intention that this instrument, consisting of three pages,
shall be governed by the law of Pennsylvania and shall be legally binding as an agreement
under seal upon him and upon his heirs, executors, administrators and assigns.
Executed on:
W---(Seal)
DATE ERIC R. REED
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BEFORE THE REGISTER OF WILLS,
CUMBERLAND COUNTY, PENNSYLVANIA
No. 2010-00821
FIRST AND FINAL ACCCOUNT OF
ERIC REED, Executor
For
ESTATE OF DAWN A. REED, Deceased
Date of Death: July 29, 2010
Date of Executor's Appointment: August 12, 2010
Accounting for the Period: August 12, 2010 to April 18, 2013
PURPOSE OF ACCOUNT: Eric Reed, Executor, offers this Account to
acquaint interested parties with the transactions that have occurred during his administration.
The Account also indicates the proposed distribution of the Estate.
It is important that the Account be carefully examined. Requests for additional
information or questions or objections can be discussed with:
Debra K. Wallet, Esquire
24 N. 32nd Street
Camp Hill, PA 17011
I.D. #23989
(717) 737-1300
Exhibit A
SUMMARY OF ACCOUNT
Fiduciary
Current Acquisition
Page Value Value
Proposed Distribution
to Beneficiaries 6 $ 0.00
PRINCIPAL
Receipts 2 $ 75,601.44
Net Loss on Sales or Other
Dispositions
Less Disbursements
Debts of Decedent 3 $ 58,092.15
Funeral Expenses 3 10,185.45
Administration Expenses 3 325.50
Federal and State Taxes 3 0.00
Fees and Commissions 3 7,000.00 $ 75,603.10
Principal Balance on Hand $ (1.66)
INCOME
Receipts 4 $ 1.66
Income Balance on Hand 1.66
Balance Before Distributions $ 0.00
Distributions to Beneficiaries 5 $ 0.00
Combined Balance on Hand $ 0.00
Page 1
RECEIPTS OF PRINCIPAL
Assets Listed in Inventory:
(Value as of Date of Death)
Cash and Bank Deposits:
M &T Bank Checking $ 66,873.02
Acct. #433578
Wachovia Bank Burial Reserve Fund $ 7,776.25
Claremont Nursing Home & Rehab Ctr 940.23 $ 75,589.50
Savings Acct.
Refunds:
Highmark refund 11.94 $ 11.94
TOTAL ASSETS LISTED IN INVENTORY: $ 75,601.44
Page 2
DISBURSEMENTS OF PRINCIPAL
Debts of Decedent: Date:
Pharmerica 8/27/10 129.70
Claremont Nursing Home 8/13/10 65.00
Public Welfare claim - 4/18/13 57,897.45 $ 58,092.15
partial payment
Funeral Expenses:
Ewing Brothers Funeral Home 8/13/10 $ 239.97
8/11/10 875.23
7/29/10 7,776.25
Gingrich Memorials '7114110 1,294.00 $ 10,185.45
Administration Expenses:
Probate Fees 305.50
Postage, Photocopies, etc. 20.00 $ 325.50
Federal and State Taxes:
PA Inheritance Tax $ 0.00 $ 0.00
Fees and Commissions:
Debra K. Wallet, Esq. -Attorney fees 3,500.00
Eric R. Reed - Executor Fee 3,500.00 $ 7,000.00
Page 3
RECEIPTS OF INCOME
Interest:
M&T Bank
Jan.1, 2011 - Mar. 22, 2011 $ 1.66
TOTAL RECEIPTS OF INCOME: $ 1.66
Page 4
DISTRIBUTION TO BENEFICIARIES
TO: Eric R. Reed
710 Louisa Lane
Mechanicsburg, PA 17050 $ 0.00
TOTAL DISTRIBUTION TO BENEFICIARIES: $ 0.00
Page 5
PROPOSED DISTRIBUTION TO BENEFICIARIES
TO: Eric R. Reed
710 Louisa Lane
Mechanicsburg, PA 17050 $ 0.00
TOTAL PROPOSED DISTRIBUTION TO BENEFICIARIES: $ 0.00
Page 6