Loading...
HomeMy WebLinkAbout10-09-13 (2) IN THE ORPHANS' COURT DIVISION ri = E? c� OF THE COURT OF COMMON PLEAS OF n-i�� -, ; °_ ` ry CUMBERLAND COUNTY, PENNSYLVANIA -> �. rr� Co; ,.-, Lf " •.� Cj iS I o ESTATE OF PAL-LINE M. MACE, DECEASED? No. 2012-01021 =7 r- APPROVAL OF ACCOUNT, WAIVER, RECEIPT, 4' -q RELEASE AND AGREEMENT OF INDEMNITY The circumstances leading up to the execution of this instrument are as follows: 1. Pauline M. Nace died on September 10, 2012, leaving a Will dated November 29, i 2006, naming Bonnie L. Rankin as Executrix. 2. Letters Testamentary were granted to Bonnie L. Rankin by the Register of Wills of Cumberland County on September 19, 2012. 3. It is the desire of the Pauline M. Nace 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 Executrix is willing to make such distribution upon the execution of this instrument. 4. An account of the administration of the Estate of Pauline M. Nace has been prepared by the Executrix. A copy is attached hereto as Exhibit A. 5. In consideration of the foregoing, each of the undersigned hereby: A. Represents and warrants that he/she has read and understands this instrument and that the facts set forth above are true and correct to the best of his/her knowledge, information and belief; -1- B. Declares that he/she has examined the attached account of the administration of the Estate and the attached schedule of distribution; that he/she finds them to be true and correct in all particulars; that he/she 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/her; 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 Executrix to make distribution of the principal and income in accordance with the schedule of distribution, and effective upon delivery to him/her of the amounts shown as respectively distributable, acknowledges receipt of such property; E. Agrees to refund to the Executrix any amount which may at any time be determined to have been an erroneous distribution to him/her, 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 Executrix 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 Bonnie L. Rankin, individually and in her capacity as Executrix, from any and all -2- actions, suits, payments, accounts, reckonings, liabilities, claims and demands relating in any way to the administration of the Pauline M. Nace Estate; G. Agrees to indemnify and hold harmless, to the extent of the funds received by him/her hereunder, Bonnie L. Rankin, individually and in her capacity as Executrix, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which she may suffer or to which she may be subjected by reason of her administration of the Estate, the settlement of her Executrix'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/her intention that this instrument, consisting of four pages, shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him/her and upon his/her heirs, executors, administrators and assigns; I. Agrees that this agreement may be executed in counterparts. Executed on: (Seal) DATE BONNIE L. RANKIN (Seal) DATE CHARLENE M. BROWNAWELL (Seal) DATE ROBERT E. NACE -3- actions, suits, payments, accounts, reckonings, liabilities, claims and demands relating in any way to the administration of the Pauline M. Nace Estate; G. Agrees to indemnify and hold harmless, to the extent of the funds received by him/her hereunder, Bonnie L. Rankin, individually and in her capacity as Executrix, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which she may suffer or to which she may be subjected by reason of her administration of the Estate, the settlement of her Executrix'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 he his/her intention that this instrument, consisting of four pages, shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him/her and upon his/her heirs, executors, administrators and assigns; 1. Agrees that this agreement may be executed in counterparts. Executed on: (Seal) DATE r BONNIE L. RANKIN t� 1,%o f 4 ., i�o �1 eal DATE CHARLENE BR-OWNAWELL i ) (Seal) DATE ROBERT E. NACE -3- actions, suits, payments, accounts, reckonings, liabilities, claims and demands relating in any way to the administration of the Pauline M. Nace Estate; G. Agrees to indemnify and hold harmless, to the extent of the funds received by him/her hereunder, Bonnie L. Rankin, individually and in her capacity as Executrix, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which she may suffer or to which she may be subjected by reason of her administration of the Estate, the settlement of her Executrix'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/her intention that this instrument, consisting of four pages; shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him/her and upon his/her heirs, executors, administrators and assigns; I. Agrees that this agreement may be executed in counterparts. Executed ow (Seal) DATE BONNIE L. RANKIN (Seal) DATE CHARLE OW WELL (seal) D AM ROBERT E. NA E -3- i (Seal) DATE HARLES E. NAME, JR. v (Seal) DATE RONALD S. NACE -4- DATE (Seal) n hoz,-? CHARLES E. N JR. (Seal) D TE RONALD S. NACE -4- BEFORE THE REGISTER OF WILLS, CUMBERLAND COUNTY, PENNSYLVANIA No. 2012-01021 FIRST AND FINAL ACCOUNT OF Bonnie L. Rankin, Executrix For ESTATE OF PAULINE M. NACE, Deceased Date of Death: September 10, 2012 Date of Executor's Appointment: September 19, 2012 Accounting for the Period: September 19, 2012 to September 19, 2013 PURPOSE OF ACCOUNT: Bonnie L. Rankin, Executrix, offers this Account to acquaint interested parties with the transactions that have occurred during her 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 8 $ 76,785.84 PRINCIPAL Receipts 2-3 $ 118,541.60 Net Loss on Sales or Other Dispositions Less Disbursements Debts of Decedent 4 $ 341.08 Funeral Expenses 4 3,669.08 Administration Expenses 4-5 17,885.46 Federal and State Taxes 5 4,004.28 Fees and Commissions 5 7,160.00 $ 33,059.90 Principal Balance on Hand $ 85,481.70 INCOME Receipts 6 $ 327.66 Income Balance on Hand 327.66 Balance Before Distributions $ 85,809.36 Distributions to Beneficiaries 7 9,023.52 Combined Balance on Hand $ 76,785.84 Page 1 RECEIPTS OF PRINCIPAL Assets Listed in Inventory: (Value as of Date of Death) Cash and Bank Deposits: Frontier Communications dividend $ 3.00 Verizon retirement payment 248.16 Cash in possession of Decedent 127.00 $ 378.16 Tangible Personal Property: 4 lots at Woodlawn Cemetery $ 1,000.00 Household Contents 1,100.00 $ 2,100.00 Stocks: 126 shares of Verizon Communications $ 5,700.24 31 shares of Metlife 1,084.38 30 shares of Frontier Communications 138.90 $ 6,923.52 Realty: 34 Lancaster Avenue Enola, PA 17025 (actual proceeds from sale) 86,202.94 $ 86,202.94 Refunds: Suburban Oil refund $ 87.62 AAA refund 24.50 Penn National Insurance (refund from storm damage) 3,642.89 Patriot News refund 6.00 Comcast refund 26.05 Page 2 MetLife auto insurance refund 321.00 Shipley Energy refund 1,743.93 Penn National homeowner's insurance refund 71.00 $ 5,922.99 TOTAL ASSETS LISTED IN INVENTORY: $ 101,527.61 Receipts Subsequent to Inventory (Valued When Received) Loan from Bonnie Rankin to set up $ 13,344.91 Estate Acct. due to lack of funds prior to sale of real estate Life Insurance money for memorial bench 3,669.08 $ 17,013.99 (at Woodlawn Memorial Gardens) TOTAL RECEIPTS OF PRINCIPAL: $ 118,541.60 Page 3 DISBURSEMENTS OF PRINCIPAL Debts of Decedent: Date: PPL Electric 9/30/12 $ 236.50 Verizon 10/9/12 7.06 West Shore Emergency Medical Service 11/1112 80.02 Alpha Diagnostics 12/28/12 5.36 Charles Inners, M.D. 1/9/13 12.14 $ 341.08 Funeral Expenses: Woodlawn Memorial Gardens 1/9/13 3,669.08 $ 3,669.08 Administration Expenses: Probate Fees 6/6/13 $ 30.00 325.50 Shipley Energy 10/10/12 426.21 11/16/12 338.00 1/7/13 676.00 Lowes (outside lights &smoke detectors 10/10/12 158.81 to prepare home for sale) K-Mart(locks for entry doors of home) 10/9/12 31.78 Charles Nace(reimb. for paint, rollers) 127.00 Dri-Masters (carpet cleaning) 10/17112 84.75 East Pennsboro Twp. (trash & sewer) 10/18/12 91.50 2/7/13 91.50 PPL Electric 10/25/12 82.90 11/30/12 57.12 12/31/12 42.43 2/5/13 51.25 2/22/13 43.80 Belco bank fees (checks) 11/13/12 4.00 Withdrawal/transfer fee 12/31/12 2.00 East Pennsboro Twp. (bulk trash removal) 11/14/12 60.00 R. E. Pomeroy(roof&vent repairs) 12/3/12 625.00 Jonathan Zeppa (electrical work) 1/15/13 1,135.00 Check printing fee 1/7/13 4.00 Page 4 Reimbursement of Bonne Rankin for loan 2/26/13 13,344.91 to Estate prior to sale of real estate Withdrawal fee 8/16/13 2.00 Attorney's postage, copies, mileage, etc. 40.00 Reserve for Filing of Account 10.00 $ 17,885.46 Federal and State Taxes: PA Inheritance Tax 12/4/12 $ 3,500.00 6/12/13 479.28 Reserve for 2013 fiduciary taxes 25.00 $ 4,004.28 Fees and Commissions: Debra K. Wallet, Esq.--Attorney Fees 6/6/13 $ 1,750.00 1,750.00 Bonnie Rankin - Executrix Fee 3,500.00 Jackson Hewitt, Tax Preparer Fees 2/28/13 160.00 $ 7,160.00 Page 5 RECEIPTS OF INCOME Interest: Belco Checking Acct. Int. (9/2012-8/2013) $ 21.89 Verizon Computer Shares Dividend (12/2012 - 8/2013) 259.56 Met Life Stock Dividend (12/2012 -8/2013) 37.21 Frontier Communications Dvidend (10/2012 -8/2013) 9.00 $ TOTAL RECEIPTS OF INCOME: 327.66 Page 6 DISTRIBUTION TO BENEFICIARIES TO: Bonnie L. Rankin 86 Vasillios Drive Stocks $ 6,923.52 Carlisle, PA 17015 1/5 personal prop.* 220.00 Charles E. Nace, Jr. 901 S. Spring Garden St., Lot 4 Carlisle, PA 17015 1/5 personal prop.* 220.00 Charlene Brownawell 10 Chucks Court Brevard, NC 28712 1/5 personal prop.* 220.00 Ronald S. Nace c/o Diane Baker 611 Lincoln Way East, Apt. #1 Chambersburg, PA 17201 1/5 personal prop.* 220.00 Robert E. Nace 307 Raven Court cemetery plot 1,000.00 Mechanicsburg, PA 17050 1/5 personal prop. 220.00 TOTAL DISTRIBUTION TO BENEFICIARIES: $ 9,023.52 *Includes special bequests in Will Page 7 PROPOSED DISTRIBUTION TO BENEFICIARIES TO: Bonnie L. Rankin 86 Vasillios Drive Carlisle, PA 17015 $ 10,018.36 Charles E. Nace, Jr. 901 S. Spring Garden St., Lot 4 Carlisle, PA 17015 16,941.87 Charlene Brownawell 10 Chucks Court Brevard, NC 28712 16,941.87 Ronald S. Nace C/o Diane Baker 611 Lincoln Way East, Apt. #1 Chambersburg, PA 17201 16,941.87 Robert E. Nace 307 Raven Court Mechanicsburg, PA 17050 15,941.87 TOTAL PROPOSED DISTRIBUTION TO BENEFICIARIES: $ 76,785.84 Page 8 .