HomeMy WebLinkAbout10-17-13 ;
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FAMILY SE�TLEMENT �GREEMENT �� ���.� � `=+ � ..�''�,
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GREEMENT, made this ���day of �G���� ,.�01�by��!
THIS A � ,. ..:. ....� w,�� �_
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Priscilia Dunkleber er, Executrix for the Estate of Rayr�nd .j.`'Ga�'�',
between J ..,., t,,�, r� .�
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and Gerafd Garrett and Priscilla Dunkieberger, testamentary heirs of Raymond J.
Garrett,
WITNESSETH THAT, WHEREAS, Raymond J. Garrett died April 12, 2012,
survived by Gerald Garrett and Priscilla Dunkleberger; and
WHEREAS, Letters Testamentary were granted to Priscilla Dunkleberger on
April 18, 2012; and
WHEREAS, the undersigned, being all the testamentary heirs of the
decedent, wish to settle the estate by agreement rather than by a formal
accounting;
NOW, 'fHEREFORE, in consideration of their mutual covenants, and
intending to be legally bound hereby, all parfies agree as follows:
I. An informal, summary accounting of the receipts and
expenditures in said estate has been presented to and reviewed and approved
by the undersigned.
2. Each of the undersigned has been fully advised of his or her rights
pertaining to the filing of an account and each does hereby waive any right
which s/he might have to compel a formal court accounting prior to distribution
of the estate.
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3. Each of the undersigned agrees that this agreement shall have
the same fo
rce and effect as if formai accounting had been confirmed by the
Orphans' Court of Cumberland County.
4.
Each of the undersigned agrees that distribution shali be in
accordance with the attached schedule.
5. We, and ea
ch of us, each in consideration of the promise of the
reb a r�e to refund to the estate, pro rata, any amount which
others, do he y J
essa in the future to discharge any liabilities to the esfiate of which
may be nec ry
we may hereaffer receive notice.
6. We, G
eraid Garrett and Priscilia Dunkieberger, and each of us,
reb retease Priscilla Dunkleberger of and from any and all claims we
do he y
r the law a ainst the Estate of Raymond J. Garrett and against the
have unde J
Executrix thereof.
7. This a reement may be executed in multiple counterparts, and,
9
when so
executed, shall be binding upon all the parties and their �respective
heirs, next-of-kin, personal representatives and assigns.
IN aIVITNESS WHEREOF, we have hereunto set �ur hands and seals the day
and year first above appearing.
(SEALj
Gerald Garrett
' � � EAL)
Priscilla Dunkleberg r
. .
First and Final Account
of
Priscilla Dunkleberger, Executix
Raymond J. Garrett Estate
Date of Death: APRIL 12,2012
Date of Executor's Appointment: APRIL 18,2012
First Complete Advertisement of Grant of Letters AUGUST 2,2013
Accounting for the Period: APRIL 18, 2012–SEPTEMBER 20,2013
Purpose of Account: Priscilla Dunkleberger, Executrix,offers this account to acquaint interested
parties with the transactions that have occurred during her administration. It is important that the
account be carefully examined. Requests for additional information or questions or objections can
be discussed with:
Thomas E. Flower, Esquire
FIOWER LAW, LLC
— 10 West High Street
Carlisle, PA 17013
_ (717) 243-5513
— 1 � Page
SUMMARY OF ACCOUNT
PRINCIPAL RECEIPTS: 327,556.86 327,556.86
PRINCIPAL DISBURSEMENTS:
DEBTS: (3,317.00)
FUNERAL: (8,106.10)
FAMILY EXEMPTION: (3,500.00)
ADMINISTRATION: (910.76)
TAXES: (11,432.06)
RESERVE: (1,000.00)
FEES&COMMISSIONS: (15.834.30)
TOTAL DISBURSEMENTS OF PRINCIPAL: (44,100.22) 283,456.64
GAINS ON INVESTMENT: 12,266.12
PROPOSED DISTRIBUTION TO BENEFICIARIES: 295,722.76
ADVANCE DISTRIBUTION (April 2012)Gerald Garrett 3,500.00
TO BE DISTRIBUTED:
Gerald Garrett 136,861.38
Priscilla Dunkieberger 155.361.38
Total Distributions: �2g5'�22'�2�
9�
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• . ,
I.RECEIPTS OF PRINCIPAL:
A. Estate Assets
185.197 shs.Old National Bancorp 2,446.00
13.448 shs.American Electric Power 595.00
Comcast stock proceeds÷nds,
Bureau of Unclaimed Property 4,643.78
Proceeds,Janney Montg.Scott
Acct.No.7303 44,727.00
Proceeds,sale of Saturn automobile 5,000.00
Diakon Lutheran,
Refundable entrance fee 171,360.00
Total estate assets: 228���1'�8
B.Assets from ioint accounts voluntarilv contributed
to the estate bv Priscilla Dunkleber�erl
Orrstown Bank,funds on deposit 14,704.14z
Sovereign Bank,funds on deposit 8,332.943
Proceeds,Janney Montgomery Scott
Acct. No.7301 75,748.00
Total assets contributed by Priscilla: 98,785.08
TOTAL RECEIPTS OF PRINCIPAL: 327,556.86
II.PRINCIPAL DISBURSEMENTS:
A. DEBTS:
Shirley Smith,for cleaning 125.00
Hillside storage, unit rent 106.00
Hiliside storage,disposal fee 300.00
Diakon Lutheran 1,089.00
Rent, Feb.,Mar.,Apr. 1,500.00
Federal income tax yr.2011 197.00
Total debts: (3,317.00)
B. FUNERAL:
Wilde Funeral Home 7,330.35
George's Flowers 166.63
Clergy honorarium 200.00
Funera)dinner 409.12
Total funeral costs: (8,106.10)
C. FAMILY EXEMPTION,
— Priscilla Dunkleberger (3,500.00)
'Pursuant to her father's verbal instructions,Priscilla will retain the funds in Orrstown C/D#400003914�
($21,917.00)and in Sovereign Bank C/D#1695542496($18,101.00).
2 Orrstown Accounts nos.743000203($8,938.26);4000038775($5,506.73);and 143000513($709.15).
3 Sovereign Accounts nos.1694061256($7,043.70);8331394603($212.22);and 41250208($1,077.02).
__ _ _ _ .
_ 3 � Page
D.ADMINISTRATION EXPENSES:
Probate fees 389.50
Wagner,tax prep 235.00
Checks&bank fees 128.85
Publish estate notices 142.41
Tax return filing fee 15.00
Tota)admin.expenses: (910.76)
E.TAXES:
2012 Fed'I. Income Tax 20.41
Inheritance Tax 12,312.06
Less share charged to P.G.D. (900•41)4
Total taxes: (11,432.06)
F. RESERVE FOR POTENTIAL TAXES: (1,000.00)
G. FIDUCIARY FEES&COMMISSIONS:
Executor's commission 5,719.30
Flower Law, LLC 10,115.00
Total fees&commissions: (15�834.30)
TOTAL DISBURSEMENTS OF PRINCIPAL: (44,100.22) 283,456.64
III.INVESTMENT GAINS: 12,266.12 295,722.76
IV.PROPOSED SCHEDULE OF DISTRIBUTION:
A. Advance distributions,
Gerald Garrett: 3,500.005
B. To be distributed:
Gerald Garrett 136,861.386
Priscilla Dunkleberger 155�361.38
Tota)Distributions: (295,722.76) 9�44
°Priscilla's share will be charged$900.41 for inheritance taxes attributable to the two jointly titled certificates of
deposit that she will retain(see footnote 1,supra),which have a combined tax value of$20,009.00.
SAdvance distributions were paid to Gerald Garrett partly in cash and partly by check.
6 Distribution amount reflects an adjustment for$15,000 lifetime advancement,pursuant to Article Second of the
Will of Raymond 1.Garrett. _ _
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