HomeMy WebLinkAbout01-23-14 .J REV-150 `(01-70) 1505610143
0
� OFFICIAL USE ONLY
PA Department of Revenue Pennsylvania County code Year File Number
Bureau of Individual Taxes DEPARTMEWr DF REVENUE
PO BOx.280601 INHERITANCE TAX RETURN 21 12 1313
Harrisburg,PA 17128-Ml RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death Date of Birth
10 28 2012 09 21 1938
Decedent's Last Name Suffix Decedent's First Name MI
JONES JR. ERNEST A
(If Applicable)Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name MI
JONES JACQUELINE
Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
®
I.Original Return ❑ 2. Supplemental Return ❑ 3.Remainder Return(date of death
prior to 12-13-82)
❑ 4 Limited Estate ❑ 43.Future Interest Compromse ❑ S. Federal Estate Tax Return Required
(dew of death after 12-12-82)
6.
DBCedent Dled Testate T Decedent Maintained a Living Trust 0 S. Total Number of Safe Deposit Boxes
® (Attach Copy of WIN) (Attach Copy of Trust) c
❑ 9. Litigation Proceeds Received ❑ 10.=Poverty id to of death ❑ 71.Election to tax under Sea 9113(A)
(Attach Sch.O)
CORRESPONDENT-THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
RICHARD E CONNELL ESQ 717 232 8731
M
REGISTER GE VgLS USE ONLY p
M
First line of address %O 7> r— N r7l
2303 MARKET STREET '
Second line of address ( ri
CC°
DATE AgED r\7 M
City or Post Office State ZIP Code d
CAMP HILL PA 17011 —•7
CorresponderWs e-mail address: connell @bme-law.net
Under penatt(es of perjury,I declare that I have examined this return,including accompanying solhedules and statements,and to the best of my knowledge and belief,
it is and complete_Declaration of preparer other than the personal r.prese Zt ve is based on all information of which preparer has any knowledge.
SI ATUR OF PERSON RESPONSIBLE F IL G RETURN DATE
Jacqueline Jones
=e e h DrI 11,Pf 17011
IGNATUR OF PREPARE N REP ATIVE DATE
G Richard E Connell Esq
ADDRE
2303 Market Street,Camp Hill,PA 17011
Side 1
t 1505610143 1505610143 J
1505610243
REV-1500 EX
Decedent's Social Security Number
Decedent's Name: JONES, ERNEST A. JR.
RECAPITULATION
1. Real Estate(Schedule A).......................................................................................... 1.
2. Stocks and Bonds(Schedule B)............................................................................... 2. 225 , 378 . 00
3. Closely Held Corporation,Partnership or Sole-Proprietorship(Schedule C).......... 3. 2 , 622 , 818 . 00
4. Mortgages&Notes Receivable(Schedule D).......................................................... 4.
5• Cash,Bank Deposits&Miscellaneous Personal Property(Schedule E)................ 5.
6. Jointly Owned Property(Schedule F) ❑ Separate Billing Requested............. 6. 567 , 539 . 50
7. Inter-Vivos Transfers&Miscellaneous Non-Probate Property
(Schedule G) ❑ Separate Billing Requested............. 7. 390 , 265 . 00
8. Total Gross Assets(total Lines 1-7)....................................................................... 8. 3 , 806 , 000 . 50
9. Funeral Expenses&Administrative Costs(Schedule H)......................................... 9.
-10. Debts of Decedent,Mortgage Liabilities,&Liens(Schedule 1)................................ 10.
11. Total Deductions(total Lines 9&10)...................................................................... 11. 0 . 00
12• Net Value of Estate(Line 8 minus Line 11)............................................................. 12. 3 , 806 , 000 . 50
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made(Schedule J)................................................. 13.
14. Net Value Subject to Tax(Line 12 minus Line 13)................................................. 14. 3 , 806 , 000 . 50
TAX COMPUTATION-SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate,or
transfers under Sec.9116
(aj(1.2)X.00 3 , 806 , 000 . 50 15. 0 . 00
16. Amount of Line 14 taxable
at lineal rate X .045 16.
17. Amount of Line 14 taxable
at sibling rate X .12 17.
18. Amount of Line 14 taxable
at collateral rate X .15 18.
19. Tax Due..................................................................................................................... 19. 0 . 00
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT.
Side 2
1505610243 1505610243
REV-1500 EX Page 3 File Number 21 - 12 - 1313
Decedent's Complete Address:
DECEDENT'S NAME
Jones, Ernest A. Jr.
STREET ADDRESS
20 Cherish Drive
CITY STATE ZIP
Camp Hill PA 17011
Tax Payments and Credits:
1. Tax Due(Page 2,Line 19) (1) 0.00
2. Credits/Payments
A. Prior Payments,
B. Discount
Total Credits(A +B) (2) 0.00
3. Interest
(3) 0.00
4. If Line 2 is greater than Line 1 +Line 3,enter the difference. This is the OVERPAYMENT. (4)
Check box on Page 2 Line 20 to request a refund
5. If Line 1 +Line 3 is greater than Line 2,enter the difference. This is the TAX DUE. (5) 0.00
Make Check Payable to: REGISTER OF WILLS, AGENT.
MN �
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;.................................................................................. ❑ ❑x
b. retain the right to designate who shall use the property transferred or its income;.................................... ❑ ❑x
c. retain a reversionary interest;or.................................................................................................................. ❑ ❑
d. receive the promise for life of either payments,benefits or care?.............................................................. ❑ ❑
2. If death occurred after December 12, 1982,did decedent transfer property within one year of death without
receiving adequate consideration?....................................................................................................................... ❑ ❑x
3. Did decedent own an"in trust for" or payable upon death bank account or security at his or her death?......... ❑ ❑x
4. Did decedent own an Individual Retirement Account,annuity,or other non-probate property which .
contains a beneficiary designation?...................................................................................................................... ❑x ❑
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)(1)].
For dates of death on or after January 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
72 P.S.§9116 1.2)[72 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,wfiether y blood or adoption.
SCHEDULE B
COMMONWEALTH OF PENNSYLVANIA STOCKS & BONDS
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
ESTATE OF Jones, Ernest A. Jr. 21 - 12 - 1313
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM DESCRIPTION UNIT VALUE VALUE AT DATE OF
NUMBER DEATH
1 Centric Financial Corporation (37,563 shares) 6.00 225,378.00
TOTAL(Also enter on line 2, Recapitulation) 225,378.00
SCHEDULE C
CLOSELY-HELD CORPORATION,
COMMONWEALTH OF PENNSYLVANIA PARTNERSHIP or
INHERITANCE TAX RETURN
RESIDENT DECEDENT SOLE-PROPRIETORSHIP
FILE NUMBER
ESTATE OF Jones, Ernest A. Jr. 21 - 12- 1313
Schedule C-1 or C-2(Including all supporting information).must be attached for each closely-held corporation/partnership interest of the
decedent,other than a sole-proprietorship. See instructions for the supporting information to be submitted for sole-propnetorships.
ITEM VALUE AT DATE OF
NUMBER DESCRIPTION DEATH
1 Transcorps Enterprises, Inc. (closely held C-corporation) 2,622,818.00
(Copy of appraisal enclosed)
TOTAL(Also enter on Line 3, Recapitulation) 2,622,818.00
SCHEDULE F
COMMONWEALTH INHI
INHERITANCE RNANIA JOINTLY-OWNED PROPERTY
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Jones, Ernest A.Jr. 21 - 12- 1313
If an asset was made joint within one year of the decedent's date of death, it must be reported on schedule G.
SURVIVING JOINT TENANT(S)NAME ADDRESS RELATIONSHIP TO DECEDENT
Jacqueline Jones 20 Cherish Drive Wife
A Camp Hill, PA 17011
JOINTLY OWNED PROPERTY:
LETTER DATE DESCRIPTION OF PROPERTY %OF DATE OF DEATH
ITEM DATE OF DEATH VALUE OF
NUMBER FOR JOINT MADE Include name of financial institution and bank account number(VALUE OF ASSET DECD'S
TENANT JOINT similar identifying number.Attach deed for jointly-held real estat . INTEREST DECEDENTS INTEREST
1 A 20 Cherish Drive 300,000.00 50% 150,000.00
Camp Hill, PA 17011
2 A TD Ameritrade 294,000.00 50% 147,000.00
Account#885002154
3 A Centric Bank 243,455.00 50% 121,727.50
Checking Account(1803519)
4 A Metro Bank 193,464.00 50% 96,732.00
Checking Account(32017832)
5 A Metro Bank 104,160.00 50% 52,080.00
Savings Account(430010855)
TOTAL(Also enter on line 6, Recapitulation) 567,539.50
COMMONWEALTH OF PENNSYLVANIA SCHEDULE G
INHERITANCE TAX RETURN INTER-VIVOS TRANSFERS &
RESIDENT DECEDENT MISC. NON-PROBATE PROPERTY
ESTATE OF Jones, Ernest A.Jr. FILE NUMBER
21 - 12- 1313
This schedule must be completed and filed if the answer to any of questions 1 through 4 on page 2 is yes.
ITEM DESCRIPTION OF PROPERTY DATE OF DEATH %OF EXCLUSION
Include the name of the transferee,their relationship to decedent VALUE OF ASSET DECD'S TAXABLE VALUE
NUMBER and the date of transfer. Attach a copy of the deed for real estate. INTEREST (IF APPLICABLE)
1 NK7 Transcorps Enterprises, Inc.401(k) Plan 339,370.00 339,370.00
2 Vanguard (IRA) 50,895.00 50,895.00
TOTAL(Also enter on line 7,Recapitulation) 390,265.00
REV-1513 EX+(11-0B)
SCHEDULE J
COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Jones, Ernest A.Jr.
21 - 12- 1313
RELATIONSHIP TO SHARE OF ESTATE AMOUNT OF ESTATE
NUMBER NAME AND ADDRESS OF PERSON(S) DECEDENT (Words) ($$$)
RECEIVING PROPERTY Do Not ListTrustee(s)
I TAXABLE DISTRIBUTIONS[include outright spousal
distributions,and transfers
under Sec.9116(a)(1.2)]
1 Jacqueline Jones Wife Entire
20 Cherish Drive
Camp Hill, PA 17011
Enter dollar amounts for distributions shown above on lines 15 through 18 on 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
B.CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART 11-ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET 0.00
w
L A S' T W I L L
O F
ERNE S T A. J ONE S. J R.
I, Ernest A. Jones, Jr. , of Mechanicsburg, Cumberland County,
Pennsylvania, do hereby declare this to be my Last Will, and -do
hereby revoke all prior Wills and Codicils heretofore made by me.
1. My wife, Jacqueline Jones (hereinafter referred to as "my
wife") , and I presently are the joint owners of a residence located
at, and known and numbered as 926 Willcliff Drive, Mechanicsburg,
Cumberland County, Pennsylvania, which is our usual home. If my
wife survives me and at my death, our home, whether it be the one
which we now own described above or one which is hereafter acquired
by us, is held in any mariner which will not result in the passage
to my wife of full title to such home by operation of law, I hereby
give and devise my entire interest in such home to my wife. If my
wife survives me, I specifically authorize my executrix to apply
assets of my estate to the satisfaction and discharge of any
mortgages, liens and other encumbrances, together with all interest
accrued thereon, which may exist with regard to such home at the
time of my death, whether passage to my wife of title to such home
is by operation of law or under this paragraph 1. If my wife does
not survive me, then our said home shall pass as part of my
residuary estate hereunder.
r
-l�
2. I hereby give and bequeath to my wife, if she survives
me, my entire interest in and to any and all furniture, antiques,
clothing, jewelry, pictures, statuary, works of art, silver, plate,
ornaments, bric-a-brac, tapestry, household goods, utensils and
supplies, books, linen, china, . glass, automobiles, plants,
implements, and tools that may be in, at or about our home at the
time of my death, and all of my other tangible personal property,
together with all policies of insurance thereon.
If my wife does not survive me, all of the property above
described in this paragraph 2, except to the extent that certain
items thereof are otherwise provided for or specifically bequeathed
in this Will, I hereby give and bequeath to those of my children,
Jacqueline J. Walters, Julianne M. Ezzi, Jeanette J. McGough,
Jennifer Jones-Jobes, Jessica E. Jones and Jodi A. Harris, who may
survive me at the time of my death,' to be divided between them or
among them in as equal shares as may be possible, as they may
mutually agree; should my said surviving children be unable to
agree between or among themselves upon such a division of said
property, alternate choice of individual items thereof shall be
made by them as follows: the first choice shall be made by my
oldest surviving child, the second choice shall be made by my next
oldest surviving child, and so on according to age until an equal
or nearly equal division and distribution' of said property items is
completed.
P( Y
-2d '
In the event that I am not survived at my death by my wife or
by any of my above-named children, then all of the property which
they would have taken under this paragraph 2 had they survived me
shall pass as part of my residuary estate hereunder.
3. If my wife does not survive me, I hereby specially give
and bequeath to my daughter, Jeanette J. McGough, if she survives
me, the Sterling Silver Flatware and the mahogany silverware chest
which are located in my home, together with all policies of
insurance thereon.
4. If my wife does not survive me, I hereby direct my
executrix to sell the 1988 XJ6 Jaguar Sedan at either a public or
private sale on such terms as my executrix, in her sole and
absolute discretion, shall deem best; provided, that my executrix
shall not sell said automobile to any member of my family or their
respective spouses with the exception of my daughter, Jeanette J.
McGough, if she survives me.
5. If my wife survives me at my death, I hereby give,
bequeath and devise to her all of the rest, residue and remainder
of my property and estate, of whatsoever nature and wheresoever
situate, together with all policies of insurance thereon.
6. If my wife does not survive me, then all of the rest,
residue and remainder of my property 'and estate, of whatsoever
nature and wheresoever situate, together with all policies of
insurance thereon, I hereby give, bequeath and devise to my
children, Jacqueline J. Walters, Julianne M. Ezzi, Jeanette J.
-3-
McGough, Jennifer Jones-Jobes, Jessica E. Jones and Jodi A. Harris,
is equal shares. Should any of my said children predecease me,
then such predeceased child's share shall be divided and
distributed equally among or between those of her children who may
survive me at my death; should such predeceased child of mine leave
no children of her own surviving me, such predeceased child's share
of my residuary estate shall pass to my other surviving children,
or their children, as hereinbefore provided.
7. In the event that my wife and I die simultaneously or
under such circumstances that it cannot be established which of us
died first, then my wife shall be deemed to have predeceased me for
All purposes under this Will.
8. Should any legatee or devisee under this Will die within
ninety (90) days after the date of my death, he or she shall be
deemed to have predeceased me for all purposes under this Will.
Provided, that if my wife survives me at my death but dies within
ninety (90) days thereafter, she shall have for and during that
portion of such ninety (90) day period as she in fact is alive
after my death the right to the use and enjoyment as a life tenant
of all property in which her interest hereunder will fail by reason
of her death within said ninety (90) day period.
9. No statutorily provided interest shall be allowed or paid
on the gifts made under this Will. All net income of my estate
realized during its administration shall pass and be distributed to
my wife under paragraph 5 hereof, or to the residuary beneficiaries
r
-4-
under paragraph 6 hereof in proportion to their respective shares
of my residuary estate passing thereunder, as the case may be, with
no requirement that such income be accrued for or apportioned
between any successive beneficiaries hereunder.
10. No interest of any beneficiary hereunder in either the
principal or income of my .estate shall be subject or liable in any
manner while in the possession of my executrix to anticipation,
pledge, assignment, sale, transfer, charge or encumbrance, whether
voluntary or involuntary, or for any liabilities or obligations of
such beneficiary whether arising from his or her death, debts,
contracts, torts or engagements of any type.
11. Any amounts, either of income or principal, which are
payable to a minor under this Will may at the sole discretion of my
executrix be paid either to a parent of such minor, to a guardian
of the person or of the estate of such minor, to the person who has
custody of such minor, or directly to such minor, or applied to or
for the benefit of such minor. The receipt by such parent,
guardian, custodian or minor, or evidence of the application of
such amount for the minor's benefit, shall be a full and complete
discharge of my executrix to the extent . of such payment or
application.
12. Except as otherwise restricted, directed or provided in
this Will, or required by law, in the administration of my estate
hereunder, the fiduciaries serving under this Will shall have the
r
oc� -
-5-
following powers, which may be exercised without leave of court, in
addition to those powers as my said fiduciaries may have by law:
(a) At any time, to retain any assets, investments or
property in the form held by them at the time of my death or
thereafter, and to invest and reinvest any funds which they
may hold in any stocks, bonds, notes or other securities, or
in any other property, real or personal, tangible or
intangible, or mixed, or interests therein, wheresoever
situate, as and in such proportions as they may deem best,
notwithstanding that such investments may not be of a
character allowed to fiduciaries by statute or general rules
of law.
(b) To sell, exchange, grant options upon, or otherwise
dispose of any property, real or personal, tangible or
intangible, or mixed, or interests therein, wheresoever
situate, at any time held by them, at public or private sale,
for cash or upon credit, in such manner, to such persons, and
at such price, terms and conditions as they may deem best, and
no person dealing with them shall be bound to see to the
application of any funds paid to them.
(c) To manage, operate, repair, improve, partition,
subdivide, or lease for any term any real estate or personal
property at any time held by them, wheresoever situate, and to
enter into agreements for the same.
r
-6-
(d) To borrow money for the payment of taxes or for any
other proper purposes in the administration of the property
held by them upon such terms as they may deem advisable, and
mortgage, pledge or encumber any real and/or personal property
held by them as security therefor.
(e) To distribute in cash or in kind, or partly in each,
and in shares different in kind from other shares, upon any
division or distribution of any property which they hold.
(f) To adjust, settle,. compromise and arbitrate claims,
to renew or extend the time for payment or otherwise modify
the terms of any obligation payable to or by my estate, and to
abandon any property held by them which is of little or no
value.
(g) To retain and pay agents, employees, accountants and
counsel, including but not limited to legal and investment
counsel or advisors, brokers,' banks, custodians and other
agents, for advice and other professional services, and to
delegate to them such duties, rights and powers as my
fiduciaries may determine for such time periods as they may
deem necessary.
(h) To allocate, in their discretion, any receipt or
item of income, or disbursement or item of expense, to
principal or income, or partly to each.
(i) To hold assets in bearer form, and to register
securities and other assets in their own name or in the name
C
-7-
of a nominee with or without indicating the fiduciary
character thereof.
(j) with respect to any securities held by them, to join
and participate in any merger, reorganization, voting trust
plan or other concerted action of holders of securities for
the deposit of securities under agreements and payment of
assessments, to subscribe for stocks and bonds, to give
proxies, to grant, obtain or exercise options, and generally
exercise all rights and powers of holders of securities, and
to delegate discretionary duties with respect thereto.
(k) With respect to the stock of any close or other
corporation, partnership interest or other business held by
them hereunder: to disregard any principle of investment
diversification and retain any part or all of it for so long
as they may deem advisable; to participate actively in its
management and receive compensation for such services in
addition to any other compensation payable to my fiduciaries;
to do anything that they may consider appropriate with regard
to its operation, expansion, reduction, liquidation or
termination or any change in its purpose, nature, or
structure; to delegate authority or duties to any director,
stockholder, manager, partner, employee or agent, and to
approve its payment of reasonable compensation to any such
person; to cause it to borrow money at reasonable terms from
the banking department of any corporate fiduciary hereunder
r
-8-
notwithstanding any contrary law regarding conflict of
interests; and to make additional investments in it if such
action appears to be in the best interests of the
beneficiaries hereunder.
(1) With respect to any policies of insurance forming a
part of my estate: to continue such policies in force and to
pay the premiums on such policies out of income or principal;
to obtain the cash surrender value, if any, of any such
policies which insure the lives of others and add the same to
principal, or convert any such policies insuring the lives of
others to permanent paid-up insurance (unless in either case
such policies are specifically bequeathed in this Will) ; and
to deal with such policies in any way that my fiduciaries may
determine to be in the best interests of the beneficiaries
hereunder, including the right to borrow on such . insurance
policies in order to pay the premiums thereon.
(m) To the extent permitted by law, to exercise any
election, right or privilege given by federal tax laws, or the
tax laws of Pennsylvania or of any other jurisdiction,
including but not limited to the joinder with my wife in
filing income tax returns, the joinder with my wife in filing
gift tax returns with respect to gifts made by her or by me or
by both of us prior to my death, the consent on gift tax
returns to have any gift made by her considered as made in
part by me for gift tax purposes, the determination of proper
-9-
taxes, interest and penalties and the payment thereof even
though not attributable in whole or in part to income or gifts
from my property or estate and without requiring my wife, her
estate or her legal representative to indemnify or reimburse
my fiduciaries for taxes (or penalties or interest thereon)
attributable to my wife, the election of alternate valuation
for federal estate tax purposes, the election to have assets
or property of my estate or otherwise includable in my gross
estate for federal estate tax purposes treated as qualified
terminable interest property for the purpose of qualifying the
same for the federal estate tax marital deduction for my
estate, and the election to claim deductions for death tax
purposes or for income tax purposes, and for their exercise or
non-exercise of any such election, right or privilege to make
or not make in their discretion equitable or compensatory
adjustments as between income and principal of my estate or
any part thereof, or as between any beneficiaries thereof or
their shares therein, all without ° the consent of any
beneficiary hereunder and, without any liability on the part of
my fiduciaries for so doing.
(n) To make from time to time partial distributions in
varying amounts to the beneficiaries hereunder prior to final
settlement and distribution of my estate, and in connection
therewith to determine in their discretion the time or times
when such partial distributions may require recomputation of
c,Qo
D�r
-zo
said beneficiaries' proportionate interests hereunder for the
equitable allocation of income or on account of changing asset
values pending final distribution.
(o) To receive, collect and recover the interest, rents,
profits, proceeds, gains, and other earnings and income of and
from the property held by them hereunder.
(p) In general, to exercise all powers in the management
of the assets and property held by them which any individual
could exercise in the management of similar property owned in
his own right, upon such terms and conditions .as to them may
seem best, and to execute and deliver all instruments and to
do all acts which they may deem necessary or proper to carry
out such management and their duties under this Will.
13. I hereby appoint my wife to serve as executrix of my
estate hereunder. Should my wife be unwilling or unable, fail to
qualify, or cease to act as such executrix, I hereby appoint my
daughter, Jeanette J. McGough, to serve as my executrix under this
Will. If my said daughter be unwilling or unable, fail to qualify,
or cease to act as such executrix, I hereby appoint my daughter,
Julianne M. Ezzi, to serve as my executrix under this Will.
14. The fiduciaries named or appointed in this Will shall not
be required in any jurisdiction to file, enter or post any bond or
other security for the faithful performance of their duties
hereunder, and shall not be liable for the acts, omissions or
defaults of any agent appointed by them with due care.
OCY
-11-
15. Subject to the restriction hereinafter set forth, I
direct that all estate, inheritance, legacy, transfer, succession
and death taxes, of whatsoever nature or kind and by whatsoever
jurisdiction imposed, and all interest and penalties thereon, which
may be payable or assessed in consequence of my death, whether or
not with respect to property passing under this Will, shall be paid
out of and charged against the principal of my residuary estate in
the same manner as are general administration expenses of my estate
so that all property subject to said taxes shall be and pass free
and clear thereof, without apportionment of or reimbursement for
such taxes, interest or penalties among any beneficiaries,
transferees or other persons interested in such property and
without any right of my estate or executrix to contribution,
recovery or collection for the same. Taxes on any future or
remainder interests hereunder may be prepaid at and in the election
and discretion of my executrix to the extent permitted by law. In
no event, however, shall my executrix pay from or charge against my
residuary estate or any part thereof, any taxes imposed upon
generation-skipping transfers under the Internal Revenue Code of
1986, as amended, or any penalties or interest thereon.
r
(DcY j
-12-
IN WITNESS WHEREOF, I, the said Ernest A. Jones, Jr. , hereby
set my hand to this my Last Will, typewritten on and consisting of
these thirteen (13) sheets of paper, at the bottom of each of the
preceding pages of which I also have placed my initials, on this
day of ��y��y , 1993.
Ernest A. Jones, J
On this 21 K day of 1993, ]Ernest A. Jones, Jr.
declared to us, the undersigned, that the aforegoing instrument was
his Last Will, and he requested us to act as witnesses to the same
and to his signature thereon. He thereupon signed said Will in our
presence, we being present at the same time. We now, at his
request, in his presence, and in the presence of each of us, hereby
subscribe our names as witnesses thereto and have placed our
initials at the bottom of each of the preceding pages. By so
doing, each of us declares that he or she believes this testator to
b of s and m' d and memory.
residing at ( P�
residing at
/1
residing at
-13-
COMMONWEALTH OF PENNSYLVANIA
SS.
COUNTY OF �,kml�y (Qnd
I, Ernest A. Jones, Jr. , testator, whose name is subscribed to
the attached foregoing instrument, having been duly qualified
according to law, do hereby acknowledge that I signed and executed
such instrument as my Last Will, and that I signed and executed it
willingly and as my free and voluntary act for the purposes therein
expressed.
Sworn or affirmed to and acknowledged before me, by Ernest A.
Jones, Jr. , the testator, this 0/'1 day of ✓�A�►/�/��y , 1993.
Ernest A. Jones,
Notaxy Public
My Commission Expires:
NOTARIAL t COMMONWEALTH OF PENNSYLVANIA SAUJr?A J.BLOcE R, Not ary ary Pu.!ic
SS.Camp Wit Boro, CumSerlanJ County, Pa.
COUNTY OF >(r ,� 'G� My Commission Expires Oct.4, 1993
cam' c
We, Rctc.h 5 (cl&-
the witnesses whose nalmes are sIccording ed to the ttached
instrument,. being duly qualified to law, do depose and
say that we were present and saw Ernest A. Jones, Jr. , the
testator, sign and execute such instrument as his Last Will; that
such testator signed such instrument willingly and executed it as
his free and voluntary act for the purposes therein expressed; that
each of us in the hearing and sight of such testator signed such
Last Will as a subscribing witness thereto; and that to the best of
our knowledge, such testator was at that time 18 or more years of
age, of sound mind and under no constraints or undue influence.
Swo r of to and sub ribed before me by tw-us- raki--",
��•
C-X, witnesses, this I G+day o
1993.
NESS
G
No;.ary Public
My Commission Expires:
:20313 NOTAR!A, EA
� S�..I.
SAUNDRA J. BLOSER, Notary Yuu!lc
CamP Hill Boro, Cumber:a: Cc:nty,Pa.
My Commissfo.i C�-Pir°s Oc'.4, 1993