HomeMy WebLinkAbout12-09-13 1505610140
REV-1500 EX (02-11)Fl)
PA Department of Revenue OFFICIAL USE ONLY
Bureau of Individual Taxes County Code Year File Number
PO BOX 280601 INHERITANCE TAX RETURN 2 1 1 3 0 3 6 0
Harrisburg PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death MMDDYYYY Date of Birth MMDDYYYY
0 1 1 6 2 0 1 3 0 6 0 9 1 9 3 6
Decedent's Last Name Suffix Decedent's First Name MI
M U R R A Y D O N L E Y H
(If Applicable)Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name MI
M U R R A Y S A N D R A L
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
Q 1.Original Return 2.Supplemental Return 3. Remainder Return(Date of Death
Prior to 12-13-82)
4.Limited Estate 4a. Future Interest Compromise(date of 5. Federal Estate Tax Return Required
death after 12-12-82)
Q 6.Decedent Died Testate ❑X 7. Decedent Maintained a Living Trust 0 S.Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust.)
9. Litigation Proceeds Received 10.Spousal Poverty Credit(Date of Death ❑ 11.Election to Tax under Sec.9113(A)
Between 12-31-91 and 1-1-95) (Attach Schedule O)
CORRESPONDENT-THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
S U S A N H C O N F A I R 7 1 7 7 6 3 1 3 8 3
GIISSTER OF Ads wsiEgotlay
First Line of Address M -° C-,) cD
.-A J
'
n, r— r,i I-
2 3 3 1 MARKET ST R E E T r- :rM cn '177_1
O G
Second Line of Address
C7 CZ a C7
City or Post Office State ZIP Code _v DATE1tED
CAMP HI L L PA 1 7 0 1 1 `n
correspondent's e-mail address: SCONFAIRCcDREAGERADLERPC.COM
Under pen ies f perjury,I eclare th I ave in 's return,including accompanying schedules and statements,and to the best of my knowledge and belief,
it is true rte and comp t D do preparer than the personal representative is based on all information of which preparer has any knowledge.
SIG T P SIB N /2 ATE
ADDRESS
446 CHEST UT WAY NEW CUMBERLAND PA 17070
SIGNATURE OF P PAR OTHER THAN REPRESENTATIVE /^ jB TE
ADDRESS P 16r;J
2331 MARKET STREET CAMP HILL PA 17011
PLEASE USE ORIGINAL FORM ONLY
Side 1
1505610140 1505610140
J 1505610240
REV-1500 EX(FI) Decedent's Social Security Number
Decedent's Name: DONLEY H. MURRAY
RECAPITULATION
1. Real Estate(Schedule A) . . . . . . . . . . . . . . . . . . . . .. .. . . . . . . . . . .. . . . . . . . . 1.
2. Stocks and Bonds(Schedule B) . .. . .. . . . . . . .. . . . . . . . . . . . . . . .. .. . . . . . . 2.
3. Closely Held Corporation, Partnership or Sole-Proprietorship(Schedule C) . . . . . 3.
4. Mortgages and Notes Receivable(Schedule D) . . . . . . . . . . . . . . . . . . . . . . . . . . 4.
5. Cash, Bank Deposits and Miscellaneous Personal Property(Schedule E). . . . . . . 5. 5 . 0 0
6. Jointly Owned Property(Schedule F) ❑ Separate Billing Requested . . . . . . . 6. 2 5 0 . 0 0
7. Inter-Vivos Transfers&Miscellaneous N n-Probate Property
(Schedule G) b Separate Billing Requested . . . . . . . 7. 1 1 7 3 6 6 . 6 8
8. Total Gross Assets(total Lines 1 through 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . 8. 1 1 7 6 2 1 . 6 8
9. Funeral Expenses and Administrative Costs Schedule H 9. 6 3 5 2 . 0 0
10. Debts of Decedent, Mortgage Liabilities,and Liens(Schedule 1) . .. . . . . . . . . . . 10.
11. Total Deductions(total Lines 9 and 10) . . . . . . . .. .. . . . .. . . . . . . . .. . . . . . . 11. 6 3 5 2 . 0 0
12. Net Value of Estate(Line 8 minus Line 11) . .. . . . .. . . . . . . . .. . . . . . . . . . . . 12. 1 1 1 2 6 9 . 6 8
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made(Schedule J) . . .. . . . . . . . . . . . . . . . . . . 13. 3 6 2 7 6 . 1 7
14. Net Value Subject to Tax(Line 12 minus Line 13) . . . . . . . . .. .. . . . .. . . . . . 14. 7 4 9 9 3 . 5 1
TAX CALCULATION-SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate,or
transfers under Sec.9116
(a)(1.2)X.00000 7 4 9 9 3 . 5 1 15. 0 . 0 0
16. Amount of Line 14 taxable
at lineal rate X.0_ 0 - 0 0 16, 0 . 0 0
17. Amount of Line 14 taxable
at sibling rate X.12 0 . 0 0 17, 0 . 0 0
18. Amount of Line 14 taxable
at collateral rate X.15 0 . 0 0 18. 0 . 0 0
19. TAX DUE . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19. 0 . 0 0
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT ❑
Side 2
1505610240 1505610240
REV•1600EY(Fo Page File Number
Decedent's Complete Address: 21 13 0360
DECEDENTS NAME
DONLEY H. MURRAY
STREET ADDRESS
11 SUMMER LANE
CITY STATE ZIP
MECHANICSBURG I PA 17050
Tax Payments and Credits:
t. Tax Due(Page 2,Une 19) 0) 0.00
2. Credits/Payments
A.Prior Payments
B.Discount
Total Credits(A+B) (2) 0.00
3. Interest
(3)
4. If Une 2 is greater than Une 1 +Une 3,enter the difference.This is the OVERPAYMENT,
Fill in oval on Page 2,Line 20 to request a refund. (4) 0.00
5. if Une 1+Line 3 is greater than Une 2,enter the difference.This is the TAX DUE. (5) 0.00
Make check payable to; REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred ..... ...................................................... ❑
b. retain the right to designate who shall use the property transferred or its income ................I.............. ❑
c. retain a reversionary interest .....................................................................................................
❑
d. receive the promise for life of either payments,benefits or care? ....................................................... El nX
2. If death occurred after December 12,1982,did decedent transfer property within one year of death
without receiving adequate consideration? ....................................................................................... ❑ ❑X
1 Did decedent own an*h trust for'or payable-upon-death bank account or security at his or her death? .... ❑ M
4. Did decedent own an individual retirement account,annuity or other non-probate property,which
contains a beneficiary designation?.................................................................................................. ® ❑
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES,YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
For dates of death on or after July 1, 1994,and before Jan. 1, 1995,the tax rate imposed on the net value of transfers to or for the use of the surviving spouse
is 3 percent[72 P.S.§9116(a)(1.1)(i)).
For dates of death on or after Jan.1, 1995,the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0 percent
[72 P.S.§9116(a)(1.1)(ii)).The statute does not exempt a transfer to a surviving spouse from tax,and the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1,2000:
• The tax rate imposed on the net value of transfers from a deceased child 21 years of age or younger at death to or for the use of a natural parent,an
adoptive parent or a stepparent of the child is 0 percent[72 P.S.§9116(a)(1.2)).
• The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5 percent,except as noted in V2 P.S.§9116(a)(1)).
• The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12 percent[72 P.S.§9116(a)(1.3)).A sibling is defined,
under Section 9102,as an individual who has at least one parent in common with the decedent,whether by blood or adoption.
REV-1508 EX+(08-12)
pennsylvania SCHEDULE E
DEPARTMENT
AX RETURN REVENUE
INHE RITANCE TAX CASH, BANK DEPOSITS & MISC.
INHERITANCE
RESIDENT DECEDENT PERSONAL PROPERTY
ESTATE OF: FILE NUMBER:
DONLEY H. MURRAY 21 13 0360
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property Jointly owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. AMERICHOICE - REGULAR SAVINGS -0001 5.00
2175 BUMLE BEE HOLLOW ROAD
MECHANICSBURG, PA 17055
TOTAL(Also enter on Line 5,Recapitulation) $ 5.00
If more space is needed,use additional sheets of paper of the same size.
REV-1599 EX+(01-10)
pennsylvania SCHEDULE F
DEPARTMENT OF REVENUE JOINTLY-OWNED PROPERTY
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
DONLEY H. MURRAY 21 13 0360
If an asset was made jointly owned within one year of the decedent's date of death,R must be reported on Schedule G.
SURVIVING JOINT TENANT(S)NAME(S) ADDRESS RELATIONSHIP TO DECEDENT
A. SANDRA L. MURRAY 446 CHESTNUT WAY WIFE
NEW CUMBERLAND, PA 17070
B.
C.
JOINTLY-OWNED PROPERTY:
LETTER DATE DESCRIPTION OF PROPERTY %OF DATE OF DEATH
ITEM FOR JOINT MADE INCLUDE NAME OF FINANCIAL INSTYTLT90N AND BANK ACCOUNT NUMBER OR SIMILAR DATE OF DEATH DECEDENTS VALUE OF
NUMBER TENANT JOINT IDENTIFYING NUMBER. ATTACH DEED FOR JOINTLY-HELD REAL ESTATE. VALUE OF ASSET INTEREST DECEDENT'SINTEREST
1. A. PERSONAL PROPERTY 500.00 50. 250.00
TOTAL(Also enter on Line 6,Recapitulation) $ 250.00
If more space is needed,use additional sheets of paper of the same sae.
REV-1510 EX+(08-09)
pennsylvania SCHEDULE G
DEPARTMENT OF REVENUE INTER-VIVOS TRANSFERS AND
INHERITANCE TAX RETURN MISC. NON-PROBATE PROPERTY
RESIDENT DECEDENT
ESTATE OF
FILE NUMBER
DONLEY H. MURRAY 21 13 0360
This schedule must be Completed and filed if the answer to any of questions 1 through 4 on page three of the REV-1500 is yes.
ITEM DESCRIPTION OF PROPERTY
NUMBER INCLUDE THE NAME OF THE TRANSFEREE,THEIR RELATIONSHIP TO DECEDENT AND DATE OF DEATH % DECD'S EXCLUSION TAXABLE
THE DATE OF TRANSFER,ATTACH A COPY OF THE DEED FOR REAL ESTATE. VALUE OF ASSET INTEREST (IFAT4LICAeLEI VALUE
1. AMERICHOICE - IRA SAVINGS -0020 73,101.58 100.00 0.00 73,101.58
BENEFICIARY-SANDRA L. MURRAY-WIFE
2. AMERICHOICE- IRA-6 MONTH SHARE CERT.-0062 7,986.42 100.00 7,986.42
BENEFICIARY-SANDRA L. MURRAY-WIFE
3. AMERICHOICE-SAVINGS-0001- DONLEY AND SANDRA 5.02 50.00 2.51
MURRAY LIVING TRUST
4. AMERICHOICE -SHARE-0013- DONLEY AND SANDRA 12,521.24 50.00 6,260.62
MURRAY LIVING TRUST
5. AMERICHOICE -SHARE 0019- DONLEY AND SANDRA 60,031.10 50.00 30,015.55
MURRAY LIVING TRUST
TOTAL (Also enter on Line 7,Recapitulation) $ 117 366.68
If more space is needed,use additional sheets of paper of the same size.
r
REV-1511 EX+(16-09)
pennsylvania SCHEDULE H
DEPARTMENT OF REVENUE FUNERAL EXPENSES AND
INHERITANCE RETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
DONLEY H. MURRAY 21 13 0360
Decedent's debts must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERALEXPENSES:
1. NEILL FUNERAL HOME 2,552.00
B. ADMINISTRATIVE COSTS:
11 Personal Representative Commissions:
Name(s)of Personal Representative(s)
Sheet Address
City State ZIP
Year(s)Commission Paid:
2, Attorney Fees: REAGER&ADLER, PC 3,800.00
& Family Exemption:(If decedents address is not the some as claimants,attach explanation)
Claimant
Street Address
City State ZIP
Relationship of Claimant to Decedent
4, Probate Fees:
51 Accountant Fees:
6. Tax Return Preparer fees:
i 7.
I
TOTAL(Also enter on Line 9,Recapitulation) $ 6,352.00
If more space is needed,use additional sheets of paper of the same size.
REV-1513 EX-(0140) +
pennsylvania SCHEDULE J
DEPARTMENT OF REVENUE BENEFICIARIES
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
DONLEY H. MURRAY 21 13 0360
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S)RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS I nclude outri gIn spousal distributions and transfers under
Sec.9116(a)(1.2).]
1. SANDRA L. MURRAY-WIFE Spousal 74,993.51
446 CHESTNUT WAY
NEW CUMBERLAND, PA 17070
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18 OF REV-1500 COVER SHEET,AS APPROPRIATE.
II. NON-TAXABLE DISTRIBUTIONS:
A.SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN:
1. SPECIAL NEEDS TRUST UNDER LAST WILL AND TESTAMENT OF DONLEY H. 36,276.17
MURRAY, DATED JUNE 28, 2002 FOR THE BENEFIT OF SURIVING SPOUSE,
SANDRA L. MURRAY
B.CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS:
1.
TOTAL OF PART II-ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. 8 36 276.17
If more space is needed,use additional sheets of paper of the same size. ,
REV-1649 Ex+(09.12)
Pennsylvania SCHEDULE O
DEPARTMENT of RETURN ELECTION UNDER SEC.9113(A)
INHERITANCE TAX RETURN
RESIDENT DECEDENT (SPOUSAL TRUSTS)
ESTATE OF FILE NUMBER
DONLEY H. MURRAY 21 13 0360
PART A - DEFERRING STATEMENT
For all trust assets reportable for Pennsylvania inheritance tax purposes for which a deferral of tax is being elected under
section 9113(a),the personal representative responsible for filing the return and the trustee(s)of the trust in question hereby
acknowledge the department's Statement of Policy set forth at 61 Pa. Code§ 94.3 concerning any potential termination of the
trust under 20 Pa.C.S. §7710.1 that occurs after the return was filed. Specifically, the signatories recognize each individual's
assume n of liability for i ritance tax consequences that result from any termination of the trust under 20 Pa.C.S. §7710.1
that c rs aft a ret r een filed.
Signature of Person Responsib Filing Return IS, na ure's, of Trustee(
PART B - ELECTION TO TAX AMOUNTS
Complete this section only if making the election to tax available under Section 9113(a)of the Inheritance&
Estate Tax Act.
If the election applies to more than one trust or similar arrangement, a separate form must be filed for each trust.This election
applies to the _ Trust(marital, residual A, B, by pass, unified credit, etc.).
Enter the description value of all interests for which the Section 9113(a) election is made.
DESCRIPTION VALUE
Total
If more space is needed, insert additional sheets of the same size.
LAST WILL AND TESTAMENT
OF
DONLEY H. MURRAY
I,Donley H.Murray,a resident of and domiciled in the State of New York,make,
publish and declare this to be my Last Will and Testament,revoking all wills and codicils at any time
heretofore made by me.
FIRST: I direct that the expenses of my last illness and funeral,the expenses of the
administration ofmy estate,and all estate,inheritance and similar taxes payable with respect to prop-
erty included in my estate, whether or not passing under this will, and any interest or penalties
thereon, shall be paid out of my residuary estate,without apportionment and with no right of reim-
bursement from any recipient of any such property(including reimbursement under Section 2207B
of the Internal Revenue Code). The provisions of this Article FIRST shall not apply to the extent
that contrary provisions concerning the payment or apportionment of any su&taxes have been or
shall be made in any inter vivos instrument executed by me relating to any insurance,trusts,gifts or
other transfers,jointly owned property or accounts, or property subject to power of appointment.
SECOND: I give all tangible personal property owned byme at the time ofmy death,
including without limitation personal effects, clothing,jewelry, furniture, furnishings, household
goods, automobiles and other vehicles,together with all insurance policies relating thereto,to my
wife Sandra L. Murray, if she survives me, or if she does not survive me, to those of my children
Andrew S. Murray and Elizabeth Bozurtian who survive me, in substantially equal shares, to be
divided between them as they shall agree,or if they cannot agree, as my Executor shall determine.
THIRD: I give all the rest,residue and remainder of my property and estate,both
real and personal,of whatever kind and wherever located,that I own or to which I shall be in any
manner entitled at the time of my death (collectively referred to as my"residuary estate"), to the
trustee under the following trust to be held and disposed of in accordance with the terms,covenants
and conditions of such trust: Donley H. Murray and Sandra L.Murray Trustees under the Donley
& Sandra Murray Living Trust dated June 28, 2002 and any amendments thereto.
In connection with the preparation of any tax return for me or my estate,I authorize
my Executor: to determine whether to elect to qualify any property as qualified terminable interest
property for Federal and/or State estate tax purposes;to make any election available under Section
2652(a)(3)ofthe Internal Revenue Code with respect to qualified terminable interest property as my
Executor may deem advisable; to make any election available with respect to Chapter 13 of the
Internal Revenue Code and to allocate the same to property eligible for such allocation,whether or
not such property is held hereunder,including property transferred by me during my life as to which
I did not make an allocation prior to my death,in such amounts and proportions as my Executor may
t
deem advisable; to determine whether to include or exclude any item of property; to determine
within permitted limits the date of valuation of my estate;to determine whether certain deductions
shall be taken as income tax deductions or estate tax deductions;and to determine whether to adjust
between principal and income.
FOURTH: I give all property and estate received from the Donley H. Murray and
Sandra L.Murray Trustees under the Donley&Sandra Murray Living Trust dated June 28,2002 and
any amendments thereto,both real and personal,of whatever kind and wherever located,that I own
or to which I shall be in any manner entitled at the time of my death,to my Trustees,IN TRUST,
to hold the same in accordance with the following provisions:
1. The trust assets shall be held, IN TRUST, for the benefit of Sandra L. Murray
(hereinafter referred to as the "beneficiary"). My Trustees shall hold,manage, invest and reinvest
the trust assets, shall collect the income therefrom and, after deducting all charges and expenses
properly attributable thereto,shall apply for the benefit of the beneficiary,at any time and from time
to time, any part or all of the net income and/or principal of this trust as my Trustees shall deem
advisable, in the sole discretion of my Trustees, subject to the limitations set forth below. Any
income not so paid or applied shall be accumulated and added to the principal of this trust at least
annually.
2. It is my intention to create a supplemental needs trust which conforms to the
provisions of Section 7-1.12 of the New York Estates,Powers and Trusts Law. I intend that the trust
assets be used to supplement, not supplant, impair or diminish, any benefits or assistance of any
Federal,state,county,city or other governmental entity for which the beneficiary may otherwise be
eligible or which the beneficiary may be receiving. Consistent with that intent,it is my desire that,
before expending any amounts from the net income and/or principal of this trust,my Trustees shall
consider the availability of all benefits or assistance governmental or private assistance programs for
which the beneficiary may be eligible and that, where appropriate and to the extent possible, my
Trustees shall endeavor to maximize the collection of such benefits or assistance for the benefit of
the beneficiary.
3. None of the income or principal of this trust shall be applied in such manner as
to supplant, impair or diminish benefits or assistance of any Federal, state, county, city or other
governmental entity for which the beneficiary may otherwise be eligible or which the beneficiary
may be receiving. The Trustees shall not make any distribution to or for the benefit of the bene-
ficiary if such distribution would reduce or eliminate any governmental entitlement or payment
which the beneficiary would otherwise receive.
4. No judge or court shall have the power to order the invasion of principal in
contravention of the provisions of paragraphs 2 and 3 above. This provision is intended to negate
and eliminate any discretion granted by Section 7-1.6 of the New York Estates,Powers and Trusts
Law.
2
5. Notwithstanding the provisions of paragraphs 2 and 3 above,my Trustees may
make distributions to meet the beneficiary's need for food, clothing, shelter or health care even if
such distributions may result in an impairment or diminution of the beneficiary's receipt or eligibility
for governmental benefits or assistance but only if my Trustees determines that(i)the beneficiary's
needs will be better met if such distributions are made,and(ii)it is in the beneficiary's best interests
to suffer the consequent effect, if any,on the beneficiary's eligibility for or receipt of governmental
benefits or assistance;provided,however,that if the mere existence of the authority of my Trustees
to make distributions pursuant to this paragraph shall result in the beneficiary's loss of governmental
benefits or assistance,regardless ofwhether such authority is actually exercised,this paragraph shall
be null and void and the authority of my Trustees to make such distributions shall cease and shall
be limited as provided in paragraphs 2 and 3 above, without exception.
6. It is my desire that the beneficiary enjoy the therapeutic benefits of education,
vocational training,hobbies,vacations,modes of transportation, equipment,visitation with family
and friends, and other needs and/or luxuries the beneficiary may have to enjoy life to the fullest. I
also appreciate that the procurement and maintenance of life, disability,liability and other types of
insurance can provide financial security and other benefits for the beneficiary. Subject to the
restrictions and limitations set forth in the preceding paragraphs of this Article,my Trustees may use
the principal and income of this trust for these types of purposes and such other purposes as my
Trustees may deem appropriate.
7. The beneficiary shall not have any right or power to assign, encumber, direct,
distribute or authorize distribution from this trust.
8. With the consent of my Trustees, any person may add property to this trust, by
assignment, gift, transfer, deed or will, and any property so added shall be held, administered and
distributed under the terms of this trust.
9. My Trustees from time to time may consult with an attorney with appropriate
expertise in the area ofpublic benefits and trust law to review applicable legislation,regulations and
requirements so that the public benefits eligibility of the beneficiary is not jeopardizedby the actions
of my Trustees. The cost of such attorney shall be paid by my Trustees from the trust assets.
10. Subject to the restrictions and limitations set forth in the preceding paragraphs
of this Article, upon the death of the beneficiary my Trustees may pay all or part of the funeral
expenses of the beneficiary and expenses relating to the distribution of the remaining trust assets as
my Trustees shall deem advisable,in the sole discretion of my Trustees. My Trustees may consider
whether other satisfactory provisions have not been made for such expenses.
11. Upon the death of the beneficiary,this trust shall be obligated to reimburse the
State ofNew York or any other applicable governmental authority,from any remaining principal and
income of this trust,for the total amount of Medicaid or other medical assistance provided on behalf
of the beneficiary. Any remaining principal and income of this trust shall be paid and distributed as
3
follows: to the Donley H. Murray and Sandra L. Murray Trustees under the Donley & Sandra
Murray Living Trust dated June 28,2002 or any amendments thereto.
FIFTH: No disposition, charge or encumbrance on any income or principal of any
trust hereunder by any beneficiary thereof shall be valid or binding upon my Trustees. No
beneficiary shall have the right to assign, transfer, encumber or otherwise dispose of any such
income or principal until the same shall be paid to such beneficiary by my Trustees. No such income
or principal shall be subject in any manner to any claim of any creditor of any beneficiary. The right
of any beneficiary to any income or principal hereunder shall be subject to all charges or deductions
which my Executor or Trustees may make under law or any provision of this will. Upon making any
payment of income or principal from any trust hereunder,my Trustees shall be released fully from
all further liability therefor.
SIXTH: If any principal or income of my estate or any trust hereunder vests in
absolute ownership in a minor or incompetent, my Executor or Trustees, at any time and without
court authorization,may: distribute the whole or any part of such property to the beneficiary;or use
the whole or any part for the health,education,maintenance and support of the beneficiary;or distri-
bute the whole or any part to a guardian,committee or other legal representative of the beneficiary,
or to a custodian for the beneficiary(including a custodian appointed by my Executor or Trustees
without court order)under any gigs to minors or transfers to minors act,or to the person or persons
with whom the beneficiary resides. Evidence of any such distribution or the receipt therefor
executed by the person to whom the distribution is made shall be a full discharge of my Executor
and Trustees from any liability with respect thereto, even though my Executor or Trustees may be
such person.
If such beneficiary is a minor,my Executor or Trustees may defer the distribution of
the whole or any part of such property until the beneficiary attains the age of eighteen(18)years,and
may hold the same as a separate fund for the beneficiary with all of the powers described in Article
SEVENTH hereof. If the beneficiary dies before attaining said age, any balance shall be paid and
distributed to the estate of the beneficiary.
The word"minor",wherever used in this Article SIXTH,shall mean any person who
shall be under the age of eighteen(18)years.
SEVENTH: My Executor and Trustees shall have all of the powers provided in the
New York Estates, Powers and Trusts Law, as amended, or any successor thereto,and the powers
conferred by law upon fiduciaries in every jurisdiction in which my Executor and Trustees may act.
In addition, the following powers are conferred upon both my Executor and Trustees, exercisable
in the sole discretion of my Executor and Trustees, as the case may be:
(a) To retain and hold any property for any period,whether or not the property is of
the character permissible for investment by fiduciaries under any applicable law,and
4
without regard to the effect the retention mayhave upon diversification of investments.
(b) To sell,exchange,grant options on,transfer or otherwise dispose of any property,
real or personal,at public or private sale,for cash or on credit,secured or unsecured,
at such time or times, in such manner and upon such terms and conditions as my
Executor or Trustees shall deem advisable.
(c) To invest and reinvest in common or preferred stocks, bonds, securities,
mortgages, investment trusts, common trust funds, mutual funds, regulated
investment companies, evidences of rights or interests, and other property, real or
personal, domestic or foreign, whether or not the investments are permissible for
fiduciaries under any applicable law and without regard to diversification.
(d) To render liquid my estate or any trust in whole or in part,at any time and from
time to time,and to hold cash or readily marketable securities of little or no yield for
such periods as my Executor or Trustees shall deem advisable.
(e) To manage,maintain,repair,alter,improve,insure,partition,subdivide,lease for
any term(whether or not beyond any period fixed by statute for leases made by fi-
duciaries or beyond the term of any trust created hereunder), mortgage, encumber,
grant security interests in,or otherwise purchase,dispose of,or deal with any real or
personal property, as my Executor or Trustees shall deem advisable.
(f) To abandon any property which my Executor or Trustees shall deem worthless
or not of sufficient value to warrant keeping or protecting; to abstain from the
payment of taxes, assessments, repairs, maintenance or other upkeep therefor; to
permit any property to be lost by tax sale or other proceedings or to convey any such
property for no or a nominal consideration. .
(g) To form one or more corporations or limited liability companies, alone or with
any person,in any jurisdiction, and to transfer assets of my estate or any trust to any
new or existing corporation or limited liability company in exchange for stock or
membership interests; to form one or more partnerships with any person in any
jurisdiction,to have my estate,any trust or a nominee be a general or limited partner,
and to transfer assets of my estate or any trust to any new or existing partnership as
a capital contribution; to enter into one or more joint ventures or associations with
any person in any jurisdiction, and to commit assets of my estate or any trust to the
purposes of those ventures or associations; and to retain as an investment for any
period any securities, partnership interests or other assets resulting from any such
actions.
(h) To enter into,modify or terminate agreements with any person regarding voting
rights,management,operation,retention or disposition of interests in corporations,
5
partnerships,joint ventures,associations or otherbusinesses ofmy estate or any trust,
regardless of whether any agreement is in effect when that business interest is
received by my Executor or Trustees;to retain and continue to operate,or permit the
operation of, any business, on the terms which governed when received by my
Executor or Trustees or on different terms;to invest additional sums in any business,
even to the extent that my estate or any trust may be invested entirely in any business,
without liability for any loss resulting from lack of diversification;to act as or select
other persons (including any beneficiary) to act as directors, officers, managers or
employees of any business, with reasonable compensation without regard to their
being a fiduciary or beneficiary and,in the case of my Executor or Trustees,without
regard to the commissions allowed by law; to discontinue any business or sell or
otherwise dispose of any interest therein on such terms and conditions as my
Executor or Trustees shall deem advisable; and to make such other arrangements
with respect to any business as my Executor or Trustees shall deem advisable. I
exonerate my Executor and Trustees from any loss resulting from the retention or
operation of any business or any depreciation in the value thereof,unless such loss
shall result from the gross negligence or willful misconduct of my Executor or
Trustees.
(i) To vote, in person or by general or limited proxy, any shares of stock or other
securities;to exercise or dispose of any options,subscription or conversion rights,or
other privileges or rights of any other nature; to become a party to, or deposit
securities or other property under,or accept securities issued under any voting trust
or similar agreement;to assent to or participate in any reorganization,readjustment,
recapitalization, consolidation,merger,dissolution,liquidation, sale or purchase of
assets, lease,mortgage, election,contract, agreement,or other action or proceeding
by any corporation;to deposit securities or other property under, or become a party
to, any agreement or plan for any such action or proceeding or for the protection of
holders of securities; to subscribe to new securities or exchange property in
connection with the foregoing; to delegate discretionary powers to any reorganiza-
tion,creditors,stockholders or similar committee or protective group;and to pay any
assessments or expenses in connection with the foregoing.
6) To pay, collect, adjust, compromise, settle or refer to arbitration any claim in
favor of or against my estate or any trust, and to institute,prosecute or defend such
legal proceedings as my Executor or Trustees shall deem advisable.
(k) To foreclose mortgages and bid for property under foreclosure or take title by
conveyance in lieu of foreclosure;to continue investments after maturity;to modify,
renew or extend any note,bond,mortgage,security agreement or similar instrument
upon such terms and conditions as my Executor or Trustees shall deem advisable;to
release obligors or guarantors or refrain from instituting suits or actions for
6
deficiencies;and to expend any sums or use any property as my Executor or Trustees
shall deem advisable for the protection of any property or interest therein.
(1) To borrow money or assets for any purpose,without personal liability therefor,
from any person including my Executor or Trustees, and to secure repayment by
mortgage or pledge of any property.
(m) To lend assets to any person, including a beneficiary,the estate of a deceased
beneficiary,or an estate or other trust in which a beneficiary has an interest,upon any
terms and conditions, with or without security, for any purpose which may or will
benefit my estate, any trust or any beneficiary.
(n) To exercise, at such times and in such manner as my Executor or Trustees shall
deem advisable,any right of election or other rights which from time to time may be
available under the hitemal Revenue Code or any other tax law, and to make such
other decisions as my Executor or Trustees may deem appropriate with respect to
expenses or deductions for estate or income tax purposes,the valuation of assets,the
filing of any j oint or other income,gift or other tax returns and the apportionment of
any joint tax liability, and the payment of any tax or collection of any refund,
regardless of the effect of any such action on the interest of any beneficiary of my
estate and without the necessity of making adjustments or reimbursements between
principal and income or among the beneficiaries of my estate.
(o) To employ and pay the compensation of accountants, attorneys, experts,
investment counselors, custodians, agents and other persons or firms providing
services or advice, irrespective of whether my Executor or Trustees may be
associated therewith;to delegate discretionary powers to such persons or firms;and
to rely upon information or advice furnished thereby or to ignore the same, as my
Executor or Trustees shall deem advisable.
(p) To incur and pay any and all costs, charges, fees, taxes, interest, penalties or
other expenses of the administration of my estate, in installments with interest if
desired, and except as expressly provided in Article FIRST hereof or elsewhere
herein,to charge the same against the income or principal,or partly against each,of
my estate or any trust.
(q) To hold property in their names as Executor or Trustees, or in their names
without designation of any fiduciary capacity,or in the name of a nominee or nomi-
nees, or unregistered, or in bearer form; to deposit property with a custodian or
depository; and to remove property from the State of New York and keep property
in other jurisdictions,without bond, surety or other security.
7
(r) To pay any legacy or distribute,divide or partition property in cash or in kind,or
partly in kind, and to allocate different kinds of property,disproportionate amounts
of property and undivided interests in property among any trusts, parts, funds or
shares,and to determine the fair valuation of the property so allocated, with or
without regard to tax basis; to make distributions from my estate prior to the time
required by law, without requiring any security or discount, or to withhold
distributions without obligation to pay interest by reason thereof, as my Executor
shall deem advisable;to distribute directly from my estate to beneficiaries of anytrust
hereunder whether or not such trust has been funded;to hold the principal of separate
trusts (including trusts established under the last will and testament of my wife) in
a consolidated fund and to invest the same as a single fund; to split trusts for
purposes of allocating generation-skipping transfer tax exemptions (within the
meaning of Section 2642(a) of the Internal Revenue Code); and to merge any trusts
(including trusts established under the last will and testament ofmywife)whichhave
substantially identical terms and beneficiaries, and to hold them as a single trust. If,
in the opinion of my Executor or Trustees,the assets of any trust is or has become so
small that it is uneconomical and not in the best interests of the trust beneficiaries to
continue,my Executor or Trustees may terminate the trust and distribute the assets
of the trust outright to the income beneficiaries thereof or to the guardian,committee,
custodian or other legal representative of the income beneficiaries.
(s) To act or refrain from acting in all respects as if financially uninvolved,
regardless of any connection with or investment in any business or any conflict of
interest between any fiduciary hereunder and my estate or any trust. No Executor or
Trustee shall be disqualified or barred from exercising any power or discretion
conferred by law or under this will because such fiduciary may be a shareholder,
officer, director, member,partner or person in any way interested in a corporation,
partnership or other person or entity affected by the exercise of such power or
discretion. My Executor or Trustees may contract,in any manner that my Executor
or Trustees shall deem advisable,with any such corporation,partnership,person or
entity.
(t) To change the situs and/or governing law of any trust hereunder to any State my
Executor or Trustees from time to time may deem desirable,and to take such further
actions,including without limitation the amendment to the terms of the trust,as may
be necessary or advisable to effectuate such change.
(u) To do all acts and execute and deliver all instruments as my Executor or Trustees
may deem necessary or advisable to carry out any of the foregoing powers.
No fiduciary shall be liable for acts or omissions in administering my estate or any
trust created under this will,except for that fiduciary's own actual fraud,gross negligence or willful
misconduct. Each fiduciary shall be fully protected in any course of conduct taken in good faith in
8
accordance with the advice of counsel. If any fiduciary becomes liable as fiduciary to any other
person who is not a beneficiary in connection with any matter not within the fiduciary's control and
not due to the fiduciary's actual fraud,gross negligence or willful misconduct,such fiduciary shall
be fully indemnified and held harmless by my estate or by the trust created hereunder giving rise to
such liability, as the case may be, from and against any liability, claim, loss, damage or expense,
including reasonable attorneys'fees,that such fiduciary may sustain.
No person who deals with any fiduciary hereunder shall be bound to see to the
application of any asset delivered to such fiduciary,or to inquire into the authority for,or propriety
of, any action taken or not taken by such fiduciary.
EIGHTH: In addition to the other powers granted hereunder, my Executor and
Trustees shall be entitled to determine the following:
(a) Except as otherwise provided herein,my Executor or Trustees may determine,
when there is reasonable doubt or uncertainty as to the applicable law or the relevant
facts, which receipts of money or other assets should be credited to income or
principal, and which disbursements,commissions, assessments, fees,taxes(except
as provided in Article FIRST hereof), and other expenses should be charged to
income or principal.
(b) Any distributions or dividends payable in the stock of a corporation, and rights
to subscribe to securities or rights other than cash declared or issuedby a corporation,
shall be dealt with as principal.
(c) The proceeds from the sale,redemption or other disposition,whether at a profit
or loss, and regardless of the tax treatment thereof, of any property constituting
principal, including mortgages and real estate acquired through foreclosure or
otherwise, shall normally be dealt with as principal,but my Executor or Trustees,
except as otherwise provided herein,may allocate a portion of any such proceeds to
income if the property disposed of produced no income or substantially'less than the
current rate of return on trust investments,or if my Executor or Trustees shall deem
such action advisable for any other reason.
(d) My Executor and Trustees may(but are not directed to) allocate receipts and
disbursements between income and principal in accordance with the New York
Estates,Powers and Trusts Law, as amended and in effect from time to time.
(e) The preceding provisions of this Article EIGHTH shall not be deemed to
authorize any act by my Executor or Trustees which may be a violation of any law
prohibiting the accumulation of income.
9
NINTH: If any beneficiary under this will and I (or any other person upon whose
death the interest of such beneficiary depends) shall die in a common accident or under circum-
stances in which it is difficult or impractical to determine who survived the other,then I direct that
for purposes of this will such beneficiary shall be deemed to have predeceased me(or such other per-
son).
TENTH: I appoint my wife Sandra L.Murray to be my Executor. If my wife does
not survive me,or shall fail to qualify for any reason as my Executor,or having qualified shall die,
resign or cease to act for any reason as my Executor,I appoint Andrew S.Murray as my Executor.
If Andrew S. Murray shall fail to qualify for any reason as my Executor, or having qualified shall
die, resign or cease to act for any reason as my Executor, I appoint Elizabeth Bozkurtian as my
Executor.
I appoint Andrew S.Murray and Elizabeth Bo7kurtian as co-Trustees under this will.
If either of my Trustees shall fail to qualify for any reason as Trustee or,having qualified shall die,
resign or cease to act for any reason as Trustee,the other Trustee may act alone as Trustee.
I direct that no Executor or Trustee shall be required to file or furnish anybond,surety
or other security in any jurisdiction.
Any Trustee, at any time and from time to time,by an instrument in writing signed
and acknowledged,may delegate any or all of the rights,powers,duties,authority and privileges of
such Trustee,whether or not discretionary;subject,however,to the provisions of the next paragraph
ofthis Article TENTH,to any other Trustee for such period or periods of time as may be designated
in such written instrument; provided, however,that any such instrument shall be revocable at any
time.
Notwithstanding anything to the contrary contained in this will,during such time as
any current or possible future beneficiary of any trust created hereunder may be acting as a Trustee
hereunder, such person shall be disqualified from exercising any power to make any discretionary
distributions of income or principal to himself or herself or to satisfy any of his or her legal ob-
ligations,or to make discretionary allocations of receipts or disbursements as between income and
principal. Such powers shall be exercisable,if at all,onlyby the other Trustee acting at the time with
such beneficiary. No Trustee who is a current or possible future beneficiary of any trust hereunder
shall participate in the exercise of any powers of my Trustees which would cause such beneficiary
to be treated as the owner of trust property for tax purposes.
Any Executor or Trustee, subject to the judicial or non judicial settlement of the
accounts of such Executor or Trustee,may resign at any time by an instrument in writing,signed and
acknowledged in duplicate,one counterpart ofwhich shall be delivered to the court in which this will
is admitted to probate and the other counterpart ofwhich shall be delivered to the successor Executor
or the successor Trustees, as the case may be.
10
i
The term "Executor" wherever used herein shall mean the executors, executor,
executrix or administrator in office from time to time. The term "Trustees" wherever used herein
shall mean the trustees or trustee in office from time to time. Each Executor and Trustee shall have
the same rights,powers,duties,authority and privileges,whether or not discretionary,as iforiginally
appointed hereunder.
Any provision herein which refers to a statute,rule,regulation or other specific legal
reference which is no longer in effect at the time said provision is to be applied shall be deemed to
refer to the successor,replacement or amendment to such statute,rule,regulation or other reference,
if any, and shall be interpreted in such a manner so as to carry out the original intent of said
provision.
Wherever used in this will and the context so requires, the masculine includes the
feminine and the singular includes the plural, and vice versa.
IN WITNESS WHEREOF,I,Donley H.Murray,sign,seal,publish and declare this
instrument as my last will and testament this 28th day of June,2002.
The foregoing instrument was signed,sealed,published and dee aced by Donley H.
Murray,the above-named Testator,to be his last will and testament in ourpresenc ,all beingpresent
at the same time, and we, at his request and in his presence and in the presence of each other,have
subscribed our names as witnesses on the date above written.
residing at
92 Second Street
Garden City,N.Y. 11530
residing at
2288 Roosevelt Ave.
East Meadow,N.Y. 11554
AFFIDAVIT OF WITNESSES
STATE OF NEW YORK, COUNTY OF NASSAU, ss.
Each of the undersigned, Daniel B. Smith, C.P.A. residing at 92 Second Street,
Garden City,N.Y. 11530,and Irene Nystrom residing at 2288 Roosevelt Ave.,East Meadow,N.Y.
11554, respectively, being individually and severally duly sworn, did depose and say that: The
foregoing last will and testament was subscribed in our presence and sight by Donley H.Murray,the
Testator named therein. The undersigned witnessed the execution of said will of Donley H.Murray
on the 28th day of June,2002,at 377 Oak Street,Suite 401,Garden City,New York 11530. At the
time the instrument was so subscribed,the Testator declared said instrument to be his last will and
testament. The undersigned thereupon signed their names as witnesses at the end of said will at the
request of the Testator,in the presence of the Testator and each other. At the time of so executing
said will,in our respective opinions,the Testatorwas at least eighteen years of age,and was of sound
mind,memory and understanding,under no constraint,duress,fraud or undue influence, and in no
respect incompetent to make a valid will. Iii our respective opinions,the Testator was able to read,
write and converse in the English language,and was not suffering from any defect of sight,hearing
or speech,or from any other physical or mental impairment which would affect his capacity to make
a valid will. Each of us was acquainted with the Testator,and we make this affidavit at his request.
Said will was shown to us at the time this affidavit was made,and we examined it as to the signature
of the Testator and our signatures. Said will was executed as a single, original instrument,and not
in counterparts. Said will was executed by the Testator and witnessed by us under the supervision
of John G.W.Zacker,Esq. ,an attomey-at-law admitted to practice in the State of New York,who
stated that the formal requirements of the New York Estates,Powers and Trusts Law regarding the
ceremony of execution and attestation of a will had been duly fulfilled and satisfied.
Witness
Witness
Severally subscribed and sworn to before me this 28th day of June,2002.
Notary P bflc
My co s ion expir s n
JIDHN ZACKER
Notary Public,State of New York
No.4753336
Quatifled in Nassau County r
rommission Expires Nov.30, ? S