HomeMy WebLinkAbout12-30-13 (2) IN THE MATTER OF THE ESTATE IN THE COURT OF COMMON PLEAS
OF ANTHONY L. CLIFFORD, OF CUMBERLAND COU`&Tg, PENIZVLV
DECEASED ORPHANS' COURT DAWN 1-:1 2 4
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FILE NO. 21-10-037§: c�� M rn
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ESTATE SETTLEMENT AGREEMENT r-
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THISAGREEMENT, madethis .-day of d' TtZC � 2013.
WITNESSETH:
THE CIRCUMSTANCES leading up to the execution of this Agreement are as
follows:
1. ANTHONY L. CLIFFORD (the "Decedent"), died testate on February 23,2010,
and Suzanne T.Jones was duly qualified with the Register of Wills of Cumberland County,
Pennsylvania, as the Executrix (the "Executrix") of the Decedent's probate estate (the
"Estate")
1 The Decedent's Last Will and Testament (the"Will') provides for the equal
distribution of the Decedent's estate to his sons, Anthony Leo Clifford, and Patrick Clifford,
his daughter, Suzanne T. Jones and his Grandson, Samuel Owen Carpenter.
1 The above named"Beneficiaries"desire the Executrix to settle the Estate and
informally in orderto avoid the expense and delay involved with the formal adjudication of a
First and Final Account by the Orphan's Court Division of the Court of Common Pleas of
Cumberland County, Pennsylvania (the "Court" ).
4. The Beneficiaries desire to forever settle and compromise any and all claims and
rights which they may possess, now or hereafter, in the Estate and to confirm their acceptance
of the Informal Account (the"Account" ) , attached hereto as Exhibit "A" Proposed
Distribution (the"Schedule"), attached hereto as Exhibit"B" and incorporated herein by this
reference. The Beneficiaries desires that the distributions, as set forth on Exhibit B be in full
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satisfaction of their rights in the Estate.
5. The Beneficiaries wish to release the Executrix and to indemnify her against any
and all claims that may be asserted against the Estate or the Executrix after the date hereof.
b. The Executrix is willing to settle the Estate informally in consideration of the
"indemnification hereinafter provided by the Beneficiaries.
NOW THEREFORE, in consideration of the foregoing and intending to be legally bound,
jointly and severally, the Beneficiaries,for themselves their successors and assigns:
1. Represent and warrant that they have read and understands this Agreement and
confirm that the facts set forth above are true and correct, to the best of their knowledge,
information and belief.
2. Declare that they have sufficient information to make an informed waiver of
their right to a formal accounting with the Court, and do hereby waive the filing and auditing of
the same.
3. Acknowledge that the distributive share or amount set forth on the Schedule
shall be in full satisfaction of their entitlements under the Will.
4. Release, remise, quitclaim and forever discharge the Executrix , her heirs,
personal representatives, successors and assigns, from and against all claims that they,as
legatees of the Estate and in connection with the Estate, had, now have or may in the future
have in connection with the Estate.
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5. Agree to Refund,on demand,all or any part of any aforesaid distribution,which
has been determined by the Executrix, or by the Court, or by any court of competent
jurisdiction,to have been improperly made.
6. Agree to indemnify and hold harmless the Executrix, her heirs, personal
representatives, successors and assigns, from and against any and all claims, loss , liability or
damage (whether or not related to the negligence of the Executrix) that may hereafter be
asserted against the Estate or against the Executrix.
7. Agree to execute such other or additional documents as may be necessary to
effectuate the agreements set forth herein_
8. Acknowledge that this Agreement shall be governed by and construed in
accordance with the laws of the Commonwealth of Pennsylvania.
9. Consent to the Court exercising personal jurisdiction overthem in any suit or
action arising out of the enforcement of this Agreement
STATE OF MINNESOTA SS L
COUNTY OF
On this,the day of 2013, before me,the undersigned
officer, personally appeared PATRICK CLIFFORD, 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 in the capacities and for the purposes therein contained.
IN WITNESS WHEREOF, I hereunder set my hand and official seal.
6RiAN ALCAIDE PCP✓
� : ' NOTARY PUSLIC•MINNESOTA
My Canmissirn EvpitesJan.3t,28tH Notary Public
COMMONWEALTH pO�F PENNSYLVANIA f
COUNTY OF G.LtlV1C 6jM J� SS
On this,the day of 'Va-'em p'r 2013,before me,the undersigned
officer, personally appeared SUZANNE T. TONES, 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 in the capacities and for the purposes therein contained.
IN WITNESS WHEREOF, i hereunder set my hand and official seal.
NOTARIAL SEAL
TARYN M YOHN
Notary Public
HAMPDEN TWP,CUMBERLAND COUNTY Nota4 Publi
My Commission Expires Mar 28.2016
STATE OF CALIFORNIA r'��
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COUNTY OF
On this,the( L _day of t- 2013, before me, the undersigned officer,
personally appeared SAMUEL OWEN CARPENTER, 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 in the capacities and for the purposes therein contained.
IN WITNESS WHEREOF, I hereunder set my hand and official seal.
SUNG 00 HAN
NOTARY PUBLIC.CALIFORNIA
COMMISSION#1981812 a Notary Pubt c
ALAMEDA COUNTY
My Comm,mm,EXP.July 11,2016
IN WITNESS WHEREOF, the Beneficiaries have read and agrees to the terms and
conditions set forth in this Estate Settlement Agreement and intending to be legally bound
hereby placed their hand and seal.
iTNESS i ONY LEO CLiFFOft
W S PATR K CLIFFORD
WITNESS C SUZA T.1
WITN 5 UEL EN ARPENTEft
COMMONWEALTH OF PENNSYLVANIA SS Orr Q
COUNTY OF
On this,the day of 2013, before me, the undersigned
officer, personally appeared ANTHONY LEO CLIFFORD, 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 in the capacities and for the purposes therein contained.
IN WITNESS WHEREOF, I hereunder set my hand and official seal.
CIDMMONWEALTHal PENNSYLVANIA
NotaAal Seal
Donna M.Bonilla,Notary Public Nota Public
aty of Bethlehem,LeNgh County Notary
My commWon EVM Nov.M 2814
Member,PennVWanta Association of Notaries
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INFORMAL ACCOUNT
ESTATE OF ANTHONY L. CLIFFORD
ITEM VALUE
ASSETS:
Real Estate $ 224, 914 .84
Stocks & Bonds $ 90, 193 . 20
Cash, Bank deposits & financial accounts $ 14, 253.24
Total $ 329, 361.28
DEBITS:
Funeral & Administration Expenses $ 17, 178 . 00
Debts, mortgages liabilities and liens $ 50, 212. 69
Inheritance Tax $ 20, 527 . 43
Total $ 87, 918 . 12
Net Value of Estate $ 241, 443. 16
The value of the Bank of America stock, approximately 1, 500 shares,
is not included in the above numbers. The Bank of America stock
will be equally divided and each beneficiary, upon receipt of the
divided shares may determine if they wish to hold or sell the
stock. Due to the low price obtained for the sale of the Kiowa
Drive property, the Estate has filed an amended PA Inheritance Tax
return seeking a refund of $7,245.00. If any refund is received it
will be divided equally between the four beneficiaries. The value
of the stocks, bonds and bank deposits may fluctuate during the
administration of the estate and a final value will be determined
at the time of actual distribution.
A
PROPOSED DISTRIBUTION OF ASSETS
OF
ESTATE OF ANTHONY L. CLIFFORD
BENEFICIARY SHARE
Anthony Leo Clifford 25%
Patrick Clifford 25%
Suzanne T. Jones 25%
Samuel Owen Carpenter 25%
Total 100%
B
B