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HomeMy WebLinkAbout02-11-05 Register of Wills of Cumberland County, Pennsylvania PETITION FOR GRANT OF LETTERS Estate of William Nichols No. c2.1 - 05 - IdS also known as William N. Nichols , Deceased Social Security No, 261-56-8692 Pelilioner(8). wholslere1Bve"flIO/Bgeo,older, apply(iea) 10' (COMPLETE "A" OR "B" BELOW:) III A. Probate and Grant of Letters and aver that Petitioner(s) is/are the executor named in the Last Will of the Decedent, dated Mav 25,1999 and codicil(s) dated SIll.\eTe\evarrtoircumslenoes. B,a.. renunoilltion d.,...thofexecUlor ete Except as follows, Decedent did not marry, was not divorced, and did not have a child born or adopted after execution of the documents offered for probate; was not the victim of a killing and was never adjudicated incompetent None !:JI B. Grant of Letters of Administration (C.I.11., d.b,n,C.1.lI.: pendente IIle: durantellbuntia: durantamlnori lale) Petitioner(s) after a proper search haslhave ascertained that Decedent left no Will and was survived by the following spouse (if anv) and heirs: 'i. I Name Aelationshio Residence .. ..... I .' .... . , .' " " :.: c") ",j .. , .' ... . \..!.:) (COMPLETE IN ALL CASES:) Attach additional sheets it necessary, Decedent was domiciled at death in Cumberland County, Pennsylvania, with hislher last family or principal residence at 3816 Conestoaa Road, Camo Hill. PA 17011 (Hamoden Townshio) (Iislalreel,numberand IT\(Jnicipality) Decedent, then.2Q. years of age, died December 11, 2004 ,at Harrisbura Hosoital, City of Harrisbura, Dauohin County, PA (LocatOln) Decedent at death owned property with estimated values as follows: (if domiciled in PAl All personal property '"..''' .. . .. . . . . , . . . . . . .. . . .. . . .' $ 50,000.00 (If not domiciled in PA) Personal property in Pennsylvania. . . . . . . . . . . . . . . . . . . . . , . . . . . $ (If not domiciled in PAl Personal property in County, . . . . . . . . . . . . . . . . . . . . . . . . , . $ Value 01 real estate in Pennsylvania ........................ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ Total '" . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . , , . . . . . . . . . . . . .' $ 50,000.00 Real Estate situated as follows: Wherefore, Petitioner(s) respectfully request(s) the probate of the last Will and Codicil(s) presented with this Petition and the grant of letters in the appropriate form to the undersigned: T ad or rinted name and residence Nick Nichols 318 Lam Post Lane Cam Hill, PA 17011 Form RW.l PlIgEll of 2 (DlI~hin County. Rev. 9t92\ Oath of Personal Representative Commonwealth of Pennsylvania County of Cumberland The Petitioner(s) above-named swear(s) and affirm(s) that the statements in the foregoing Petition are true and correct to the best of the know ledge and belief of Petitioner(s) and that, as person.al representative(s) of the Decedent, petiti~Oer(S) ,..~~ell and..tr~Jy.Y~. m.ill. ister the estate accordmgtolaw. .(~ ~ Sworn to and affirmed and subscribed 'f-, /ft~7-! . ---.------- / 1.R ,'v,A.;.;. ,^^-,--" ./ 2005 ~~~ ~ 1~~EE OF REGISTER before me this Gr~LJ Estate of William Nichols day of Deceased No.6L1. DS-- Id-.:l also known as William N. Nichols Social Security No: 261-56-8692 Date of Death: December 11. 2004 AND NOW, ':::4J/hu A. . ~/ q , 2005, in consideration of the Petition on the reverse side hereon, satisfactory proof haVIng been presented before me, IT IS DECREED that Letters Igj Testamentary 0 of Administration are hereby granted to (e.t.a.;d,b,n.e,t,;pandentelite;duranteab....ntill;dutanteminnrilate) Nick Nichols in the above estate and that the instrument(s), if any, dated described in the Petition be admitted to probate and filed of record as the last Will of Decedent. FEES Letters. .......................... ./ Short Certificate(s) (5)... Renunciation ( )............ Mfidavit ( ).................. J:lj,,",u P "5C& ( )t.~ Codicil.......................... . JCP Fee........................ Inventory & Tax Forms... Other........................... . TOTAL................ $..9D .DD $..2D.O\) $ $ $ \S .(\"\) $ $ I() .ClL) $ $ 5.O\J Elvse E. ROE!ers ~ .It! ~ 41274 415 Fallowfield Rd. Suite 301 Camo Hill. PA 17011 717-612-5801 ~ - g - 05 Attorney: LD. No: Address: $l4-0 .W Telephone: DATE FILED: This is to certify that the information here given is correctly copied lrom an original certificate of death duly filed with me as Local Registrar. The original certificate will he forwarded to the Slale Vital Records Office for permanent filmg. WARNING: It is illegal to duplicate this copy by photostat or photograph.:',' .. Fee Ii)! this certificate, $2.00 11\1~(\,~'otPt;;.____ ""~""~~'f4" '" l~ ~';,. l!it.V ~ . ~\ !~! ~ \~i ~ ~I~"'j~" ii:~ \*~'~., ,.._-...... ,~!*~ ~ - , " I ~ ~ a. ~" /.,>:-" '\.rA ' /.'.;::;::.l . '- "'-9> /....'-~,,' -....~-'" ' 4fENl \\\ '''1,11'\ """"'"'''##/r,,"I1''' (J--(} -Ol/, i3~ ( .: P 11072853 No. , ~) Hl05143Rev 2187 X.-- \...,n COMMONWEAl.TH OF PENNSYLVANIA. DEPARTMENT OF HEALTH. VITAL RECORDS CERTIFICATE OF DEATH TYPElPl'llNT " PERM.aNENT BlA,CI\:INI( 5TATE'ILf_1lE1l SOCIAL SECURITY NUIoIBER ,. :" -.54 NAIoIEOF DECEDENT (Fi,*. MiGdI.. Last) 1. WI~...;ItM NiCHOLs. AGE (LISl Bo'lh4ay) DATE OF DEATHI"'ooUl. Oay. Ye"" ... P[.(, II, .;loo'f- ...92, 5URVIVINGSPOuSE r;EO~~-'~;:ek~~ ". /4fY1,.bEJJ BIRTHPLACE (Cily a"<l S~orforeognC(II.Ollry) II><. T. Ri2J4S r;#.E€.C.C ::.00....81 fAGIUN AAME {lInol....blu/iQn. g;v. Ill.. and oum~...J ~...."'- 0 ::'..l 0 ft.ICE.I\m...canlro....~,\M"ole,.t (Sp'""'fy) ... WII;" . bb EII/OI<"......O ~o '" o ~ COUNl'IOFD~l\1 1tI. DA"f'fti~ OECEDENT'S USUAl OCCUPATION I.f~~'%:..~ '11. RC$TA"'UAl1'"~1t 11'11. .Kh..TA1.fA........n- DEC NT'S lMll.I AOORE (StrMl. City own, SlI1I. P ) DEceoeNrs .JBII" CoNE STot;,A Rb, ~~~~{NCE 11. CAM H;....L-, PI\ \1011 ~~~ FATI-tER"StlAME(FiBl."~.l-.ll 1.. !CJ( Nt(HOL.S IN I.lANrsl<<ME (l1pe/Pnnl). 201. ~R"jA N\c.\-&oL.J' !,liE HOD OJ 1!!2N eon.tIcnDe..;III!9~~IImO'4lIr<lonSlellO . 211. Olllll'{$pecify) 21b. . SIGNAl OFFU SER'fICli~'iMSE~?eRSONAC11NGASSUCH . JV"~ 22tl. O( 2.L.L- Talhlltlllsldm1kr\c),oleCl;e.OMlI'IOCCllJJ'edlllhllliml,deleandplacellll-.! (~er4T;u.) . ,,. TIME OF DEATH l 1.. l S""l AAAlS." PA, nlO} 3.,.'" II1A~l<l" S,.., c"'..... LL fA. "'Co.' CJ\1E$IO"'ED {MQ/lIh,D.e1.V~ I 23b. ()d-cros~~L 2)c:. /~/I'/C w.o.S~E REFERREO TOA MEOICAl EJW.lIkER !CORONER'> :N. V.. 0 No 'ApprolimiP PART II; Oll1.r"~ICDOO~OOICO/lI"ll"'llngla cSei\ll.lHA :;mer... Mlrn"""'oI'Ig\nlhe\lllQ8It111'ocauwg"....'nPARTI :an.setWlddull'l ... HA"'S6"" S OECEOENl EVER iN Us ARMED FORCES7 v..D NaIR! ,. MAFlITALSlATUS.MamltCl N..erManiad,W<>>w80. OiYOfced(Specityl 1'" mA~ED 1TLSleltt ". l1c.IEJV".~jjvedln "'" - ~""n I . 11b. C_('Uh1l%"~A/o.!b t<>WnSllip? l1d.D ~"=i=oI MOTHER'S NAME (Fi.-l, MiddI,. MMl'" Sumemool 1'- (Y\A~'ll::~ rr111J1!>RfMJiS INFORMANrS lIWLING AOORESS (S....... Cilyrroown, S~, ZIp COOt) 2ClII. I (~N~nD&A e.!). e~""'f t-lil--'- fA. 1'0/1 PtACE OF OlSI>OSmON- Ner". alCemewy. CtIol"l'lllOfy LOCATION. c'r,orrown. SUI~, Z;~ COde orOll...,.PIIA 21C. EAsr "" d,_ . < ~ ;( . Seq..emiellyUtOOf\lUoN. ~"'1.ludinglOimfMdjall ._EnlerUNDERLYlHG CAUSE{Oi_orlt>jury ~lnilialttd_ fllUWlgonOMlh) LAST WAS AN AUTOPSV WERE AUTOPSY FINOlNGS PERFORMED" AVolllJlBLE PRIOR TO COMPLETION OF CAUSE OF DEATH? E ~ MANNER OF CEATH QATEOF INJURV \_....00,.'1'_1 o o D~EOf"INJURV ,""""",,_ra..-r) ... TIME OF INJURY INJURY AT WYf>,K" DESCRleE HOW INJURY OCCURRED i5' o o ..... ""'"'" """" HorniQoe Penmngl....lbgabon Couklnaltlll"""""*'-<l ,.,. Alncm,.rll'l1l.11fIe!."ClOl'1.a/lI<-, '.0 ""0 " Z W ~ U W C ~ w > < Z De. 211I. CEATlfIER(C/l<<kanlyane) .lt~=(laf~'en~~'="th~I':~I=m:rt~iI"n,":~'::.~.~.~~.~~.~.i.~.~~~.. ... '''T~~~~::'O':'N~~=~':''~*.:'.?:'~.~d::~'::''~':=l-I'''''''''' 'MEOICAlEl[.t,MlHI!RlCOItONER =,:~~:.~onan4lorll"'''dllatlQl\,I"myap/nlan.d..th~I.\_'Ilme.dlte.md'''CI..ndMlollM"~''I4'I'nd 0 ". RfGISlRAIl.'S SIGI'IA TUR! AND NUMBER ,. " Last Wilili and T <estam.<ent OF WILLIAM N. NICHOLS I, WILLIAM N. NICHOLS, of Hampden Township, Cumberland Cou-qty, Pennsylvania, do make, publish and declare this to be my Last Will and TeStament; hereby revoking all Wills and Codicils by me at any time made. ITEM I: I direct that all inheritance and ~state C? taxes (other than generation-skipping tax) becoming due by reason of my death, ;:.;::> whether such taxes may be payable by my estate or by any recipient of any property, shall be paid by the Executor out of the residue of my estate, as an expense and cost of administration of my estate. The Executor shall have no duty or obligation to obtain reimbursement for any such tax so paid, even though on proceeds of insurance or other property not passing under this Will. ITEM II: I direct the Executor to pay the expenses of my last illness and funeral expenses from the residue of my estate as an expense and cost of administration of my estate. ITEM III: If I die before my wife, GEORGIA NICHOLS, I give to her all of my household furniture and furnishings, books, pictures, jewelry, silverware, automobiles, wearing apparel and all other articles of household or personal use or adornment and all policies of insurance thereon. If! do not die before my wife, I make this gift to such of my children, NICK NICHOLS and MARIA PAVONE, as are living at the time of my death, to be divided between them Page 1 w.J1/ w .' as they shall agree. Should there be no agreement, the Executor shall divide this property between them in as nearly equal portions as the Executor, in the sole discretion of the Executor, deems appropriate, having due regard to the personal preferences of my children. ITEM IV: I give the residue of my estate, not disposed of in the preceding portions of this Will, to my son, NICK NICHOLS, as Trustee (hereinafter referred to as "Trustee"), IN TRUST, to be further divided into three parts, each of which shall be held in trust and constitute separate trust funds to be known as "Trust A", "Trust B" and "Trust e": "Trust A": "Trust A" shall consist of a fraction of my residuary estate. The numerator shall be a sum equal to the largest amount that can pass free of Federal estate tax under my Will by reason of the applicable credit and the state death tax credit (provided that the use of this credit does not require an increase in state death taxes) allowable to my estate but no other credit and after taking account of dispositions under other items of this Will and property passing outside of this Will which do not qualify for the marital or charitable deduction and after taking account of charges to principal that are not allowed as deductions in computing my Federal estate tax. The denominator shall be the value of my residuary estate. For purposes of establishing this fraction, the values finally fixed in the Federal estate tax proceeding relating to my estate shall be used. I recognize that the numerator of such fraction may be zero (0), in which case no property shall pass under "Trust A". I also recognize that the numerator may be affected by the action of the Executor in exercising certain tax elections. Under no circumstances shall "Trust A" be larger Page 2 l,.}. TV . ,. than the amount of the generation-skipping transfer tax exemption provided in Section 2631 of the Internal Revenue Code of 1986, as amended, and available to me at the time of my death after considering other generation-skipping transfers made by me during my lifetime or effective at my death. "Trust B": "Trust B" shall consist of a fraction of my residuary estate. The numerator shall be a sum equal to the amount of the generation-skipping transfer exemption as provided in Section 2631 of the Internal Revenue Code of 1986, or any comparable legislation in effect at the time of my death and then available to me after consideration of generation-skipping transfers made by me during my lifetime and made under other items of this Will (including an allocation to "Trust A") and the allocation of the generation-skipping transfer tax exemption made by the Executor to other generation-skipping transfers. The denominator shall be the value of my residuary estate, "Trust C": "Trust C" shall consist of the balance of my residuary estate not placed in "Trust A" and "Trust B". ITEM V: The following provisions shall apply to "Trust A": Page 3 (a) Trust. This Trust shall be known as The Nichols Family GST ~ Page 4 (b) The Trustee shall pay to or for the benefit of my wife, GEORGIA NICHOLS, all of the net income of this Trust in convenient installments, but not less frequently than annually. (c) The Trustee shall also pay to my wife, GEORGIA NICHOLS, so much of the principal of this Trust as may be necessary in the discretion of the Trustee, for the proper support, maintenance and medical care of my wife. (d) Upon the death of my wife, the Trustee shall divide the principal into two parts, one of which shall comprise fifty-one (51%) percent of the value of the principal, and the other which shall comprise forty-nine (49%) percent of the value of the principal. The Trustee shall hold the share comprising fifty-one (51%) percent as a separate Trust for the benefit of my son, NICK NICHOLS, or his issue, and shall hold the share comprising forty-nine (49%) percent as a separate Trust for the benefit of my daughter, MARIA PAVONE, or her issue. (e) In each Trust established for a living child of mine (the "Beneficiary"): (1) The Trustee shall pay to or for the benefit of Beneficiary in convenient, at least annual installments, so much of the net income as the Trustee, in the discretion of the Trustee, deem appropriate for the support, maintenance and medical care of the Beneficiary. (..d. t!/ Page 5 (2) The Trustee shall also pay to the Beneficiary so much of the principal as the Trustee, in the discretion of the Trustee, considers necessary for the proper support, maintenance and medical care of the Beneficiary. (3) Upon the death of the Beneficiary, if my son, NICK NICHOLS, is not then living, the Trustee shall convey and pay over all of the remaining assets of his or her Trust to one or all or less than all of Beneficiary's spouse, Beneficiary's issue, my issue, or the charities Beneficiary designates, in the amounts and in the estates that the Beneficiary directs, either by instrument filed with the Trustee during the Beneficiary's lifetime, or by the Beneficiary's Will. This Power of Appointment is exercisable only by specific reference to this power, and shall in all cases be exercisable by my son, NICK NICHOLS, with respect to the Trust established for his benefit. In no event may this Power of Appointment be exercised in favor of Beneficiary, Beneficiary's estate or the creditors of either. (4) If the Beneficiary does not exercise his or her power of appointment in whole or in part, or if, at the death of the Beneficiary, my son, NICK NICHOLS, is still living, the Trustee shall divide the unappointed principal and any accretions thereto and any accumulations of l<<l vV Page 6 income into as many equal parts as there are then living children of the Beneficiary and then deceased children of the Beneficiary represented by then living issue. The Trustee shall hold one share as a separate Trust for the benefit of each living child of the Beneficiary. The Trustee shall divide each share set apart for issue of a deceased child of the Beneficiary into separate per stirpital shares for each then living issue of a deceased child of the Beneficiary, and shall hold each share as a separate Trust. (f) The following provisions shall apply to each Trust established for a living child of a Beneficiary (each also referred to as the "Beneficiary" of his or her Trust): (1) The Trustee shall pay to the Beneficiary in convenient, at least annual installments, so much of the net income as the Trustee, in the discretion of the Trustee, deem appropriate for the support, maintenance, medical care and college or higher education of the Beneficiary. (2) The Trustee shall also pay so much of the principal of the Trust as the Trustee, in the sole discretion of the Trustee, considers necessary for the proper support, maintenance, medical care and college or higher education of the Beneficiary. (3) Mter the death of my son, NICK NICHOLS, and upon the attainment of the age of twenty-five (25) {,f.1 l[/ Page 7 years by the Beneficiary, the Trustee shall distribute one- half of the principal to the Beneficiary. Upon the attainment of the age of thirty (30) years by the Beneficiary, the Trust shall terminate and the Trustee shall pay to the Beneficiary all the assets of his or her Trust. Should my son, NICK NICHOLS, be living when the Beneficiary attains the ages set forth in this subparagraph, the trust shall continue until the death of my son. (4) Upon the death of the Beneficiary prior to the termination of his or her Trust, if Grantor's son, NICK NICHOLS, is not then living, the Trustee shall convey and pay over all of the remaining assets of the Beneficiary's Trust to one or all or less than all of Beneficiary's spouse, Beneficiary's issue, my issue, or the charities Beneficiary designates, in the amounts and in the estates that Beneficiary directs, either by instrument filed with the Trustee during Beneficiary's lifetime, or by the Beneficiary's Will. This Power of Appointment is exercisable only by specific reference to this power. In no event may this Power of Appointment be exercised in favor of Beneficiary, Beneficiary's estate or the creditors of either. (5) If the Beneficiary does not exercise his or her power of appointment in whole or in part, or if at the death I..}. r!/ I. Page 8 of the Beneficiary, my son, NICK NICHOLS, is still living, the Trustee shall divide the unappointed principal and any accretions thereto and any accumulations of income into as many equal parts as there are then living children of the Beneficiary and then deceased children of the Beneficiary represented by then living issue. The Trustee shall hold one share as a separate Trust for the benefit of each living child of the Beneficiary. The Trustee shall divide each share set apart for issue of a deceased child of the Beneficiary into separate per stirpital shares for each then living issue of a deceased child of the Beneficiary, and shall hold each share as a separate Trust. (g) The following provisions shall apply to each Trust established for issue more remote than a grandchild (each referred to as the "Beneficiary" of his or her Trust): (1) The Trustee shall pay to the Beneficiary in convenient, at least annual installments so much of the net income as the Trustee, in the discretion of the Trustee, deem appropriate for the support, maintenance, medical care and college or higher education of the Beneficiary. (2) The Trustee shall also pay so much of the principal of Trust as the Trustee, in the sole discretion of the Trustee, considers necessary for the proper support, maintenance, medical care and college or higher education of the Beneficiary. w. J1./ "Trust B": Page 9 (3) Upon the attainment of the age of twenty-one (21) years by the Beneficiary, and in no event later than the Termination Date, the Trustee shall distribute the remaining assets to the Beneficiary. (4) Upon the death of the Beneficiary prior to attaining the age of twenty-one (21) years, and in no event later than the Termination Date, the Trustee shall pay the remaining assets to the then living issue of the Beneficiary, per stirpes. (h) If, before final distribution of the assets of any Trust established under this Item, there is no living beneficiary of the Trust, it shall terminate. The assets of the Trust shall be paid to my issue, on a per stirpital basis, who have in common as an ancestor the most recently living beneficiary of the Trust. If there is, however, at the time any Trust established under my Will for the benefit of the person(s) who would receive this distribution, the assets which would have been distributed to that person shall be added to the principal of the Trust established for his or her benefit. CD Notwithstanding any other provision of this Will, each Trust arising under this Will shall terminate no later than twenty (20) years after the death of the last to die of my issue living at the time of my death. This date is the "Termination Date." ITEM VI: The following provisions shall apply to W.W (a) Trustee shall, beginning at my death, pay over the net income in convenient, at least annual installments to my wife, GEORGIA NICHOLS, during her lifetime. (b) The Trustee shall also, from time to time, pay to my wife so much of the principal of this Trust as the Trustee deems necessary for the proper support, maintenance and medical care of my wife. (c) Upon the death of my wife, the Trustee shall pay all accrued income and all income accumulated but undistributed to the estate of my deceased wife. The Trustee shall thereafter transfer the principal of this Trust to "Trust A" to be held, administered and distributed in accordance with the provisions of ITEM V of this Will. (d) If my wife should not survive me, the provisions of "Trust B" shall be void. The part of my estate which would have constituted "Trust B" shall be added to "Trust A" to be disposed of in accordance with ITEM V of this Will. ITEM VII: The following provisions shall apply to "Trust C": (a) Trustee shall, beginning at my death, pay over the net income in convenient, at least annual installments to my wife, GEORGIA NICHOLS, during her lifetime. Page 10 lB. Yl/. (b) The Trustee shall also, from time to time, pay to my wife so much of the principal of this Trust as the Trustee deems necessary for the proper support, maiptenance and medical care of my wife. (c) Upon the death of my wife, the Trustee shall divide the principal into two parts, one of which shall comprise fifty-one (51%) percent of the value of the principal, and the other which shall comprise forty-nine (49%) percent of the value of the principal. The Trustee shall hold the share comprising fifty-one (51 %) percent as a separate Trust for the benefit of my son, NICK NICHOLS, or his issue, and shall hold the share comprising forty-nine (49%) percent as a separate Trust for the benefit of my daughter, MARIA PAVONE, or her issue. The Trustee shall administer and distribute the share for each child as provided in paragraph (d) of this Item. If either of my children do not survive the survivor of my wife and me, the share for that child shall be divided into separate per stirpital shares for each then living issue of my deceased child, and each share held in trust for the benefit of the issue for whom it was set apart, to be administered and distributed as provided in ITEM ven, (g), (h) and (i) of this Will. (d) The following provisions shall apply to any trust continued from "Trust C" for the benefit of either of my children (each known as the "Beneficiary" of his or her Trust: (1) Trustee shall pay to the Beneficiary in convenient, at least annual installments, so much of the net income as the Trustee, in the discretion of the Trustee, Page 11 (~/. 11/ Page 12 deem appropriate for the support, maintenance and medical care of the Beneficiary. (2) The Trustee shall also pay so much of the principal of the Trust as the Trustee, in the sole discretion of the Trustee, considers necessary for the proper support, maintenance and medical care of the Beneficiary. (3) Upon the death of my son, NICK NICHOLS, any Trust created for my daughter, MARIA PAVONE, shall terminate and the Trustee shall pay to her all the assets of her Trust. Upon her death during the continued existence of her Trust, and upon the death of my son, NICK NICHOLS (each the "Beneficiary" of his or her Trust), the Trustee shall distribute the remaining principal to or for the benefit of the person(s), corporation(s), or the estate of the Beneficiary, in such amounts and in such estates as the Beneficiary may have directed, either by instrument filed with the Trustee during the Beneficiary's lifetime or by the Beneficiary's Will. The exercise ofthis power of appointment must specifically refer to this power. This power shall be exercisable by the Beneficiary alone and in all events. If this power is not exercised by the Beneficiary in whole or in part during his or her lifetime or in his or her Will, then upon the death of the Beneficiary, the unappointed principal shall continue to be held in Trust. t.,J. 1$/ (4) If the Beneficiary does not exercise his or her power of appointment in whole or in part, the Trustee shall divide the unappointed principal and any accretions thereto and any accumulations of income into as many equal parts as there are then living children of the Beneficiary and then deceased children of the Beneficiary represented by then living issue. The Trustee shall hold one share as a separate Trust for the benefit of each living child of the Beneficiary. The Trustee shall divide each share set apart for issue of a deceased child of the Beneficiary into separate per stirpital shares for each then living issue of a deceased child of the Beneficiary, and shall hold each share as a separate Trust. Each share held in trust for the benefit of the issue for whom it was set apart, to be administered and distributed as provided in ITEM Vet), (g), (h) and (i) of this Will. ITEM VIII: The Executor shall be guided as follows with respect to the payment of federal estate taxes and my federal generation skipping transfer tax exemption: (a) The Executor shall allocate my available generation-skipping tax exemption first to "Trust A" and then to "Trust B". My Executor is authorized to make the election for generation-skipping tax purposes to treat "Trust B" as if the election to qualify "Trust B" for the Federal estate tax marital deduction had not been made, so that I am the transferor for purposes of the generation-skipping tax. Page 13 I~). 1$/ (b) The Executor is authorized in the Executor's exclusive and unrestricted discretion to determine whether to elect (under Section 2056(b)(7) of the Internal Revenue Code of 1986 as amended, or any corresponding provision of the Federal estate law), to qualify all, none or a fraction of "Trust B" and "Trust C" for the Federal estate tax marital deduction. The Executor's decision with respect to this election shall be final and conclusive upon all persons. Only property which is eligible for the marital deduction under Federal estate tax law shall be assigned to "Trust B" and "Trust C". Notwithstanding anything to the contrary contained in this Will, the Trustee shall not retain or invest in any property which is or may become unproductive. Notwithstanding the provisions of subparagraph (c) ofItems VI and VII, the Trustee shall promptly pay to the Executor of my wife's estate, first out of the principal of "Trust C" and to the extent that "Trust C" is not sufficient, from "Trust B", upon the death of my wife, an amount equal to the estate, inheritance, transfer, succession and other death taxes ("death taxes"), Federal, state and other, payable by reason of the inclusion of the value of Trust property in my wife's estate. This payment shall equal the amount by which (1) the total of the death taxes paid by my wife's estate exceeds (2) the total of the death taxes which would have been payable if the value of the Trust property had not been included in her estate. My wife's Executor shall determine the amount payable, and the determination shall be final. The determination of the amount due shall be based upon values as finally determined for Federal estate tax purposes in my wife's estate. After payment of the amount determined to be due hereunder, the Trustee shall be discharged from any further liability with respect to payment. My wife may waive her estate's right Page 14 uJ. JI/: to payment under this subparagraph by Will, executed after my death, in which she specifically refers to this right. ITEM IX: No part of the income or principal of any Trust created by this Will shall be subject to attachment, levy or seizure by any creditor, spouse, assignee or trustee or receiver in bankruptcy of any beneficiary prior to his or her actual receipt of income or principal distributed. The Trustee shall pay the net income and the principal to the beneficiaries specified by me, as their interests may appear, without regard to any attempted anticipation, pledging or assignment, and without regard to any claim or attempted levy, attachment, seizure or other process against the beneficiary. ITEM X: The Executor and the Trustee shall each possess the following powers, each of which may be exercised without court approval and in a fiduciary capacity only: (a) To retain any investments I have at my death, including specifically those consisting of stock of any bank even if I have named that bank as the Executor or Trustee. (b) To vary investments, and to invest in bonds, stocks, notes, real estate mortgages or other securities or in other property, real or personal, without being restricted to so-called "legal investments", and without being limited by any statute or rule of law regarding investments by fiduciaries. (c) In order to divide the principal of a Trust or for any other purpose, including final distributions, the Executor and Trustee are Page 15 w.7!/ authorized to divide and distribute personal property and real property, partly or wholly in kind, and to allocate specific assets among beneficiaries and Trusts so long as the total market value of each share is not affected by the division, distribution or allocation in kind. The Executor and Trustee are each authorized to make, join in and consummate partitions of lands, voluntarily or involuntarily, including giving of mutual deeds, or other obligations, with as wide powers as an individual owner in fee simple. (d) To sell either at public or private sale real and personal property severally or in conjunction with other persons, and to consummate sale(s) by deed(s) or other instrument(s) to the purchaser(s), conveying a fee simple title. No purchaser shall be obligated to see to the application of the purchase money or to make inquiry into the validity of any sale(s). The Executor and Trustee are authorized to execute, acknowledge and deliver deeds, assignments, options or other writings as necessary or convenient to any of the power conferred upon the Executor and Trustee. (e) To mortgage real estate, and to make leases of real estate. (f) To borrow money from any person, including the Executor or Trustee, to pay indebtedness of mine or of my estate, expenses of administration or inheritance, legacy, estate and other taxes, and to assign and pledge assets of my estate or any Trust established by this Will. This paragraph shall not be construed to authorize borrowing from "Trust B" or from "Trust e". Page 16 ,,,J. W (g) To pay all costs, taxes, expenses and charges in connection with the administration of my estate or any Trust established under this Will. If any death taxes are payable with respect to my estate, these taxes shall be paid first from "Trust A", and second from "Trust C". (h) To make distributions of income and of principal to the proper beneficiaries, during the administration of my estate, with or without court order, in such manner and in such amounts as the Executor deems prudent and appropriate. (i) To vote shares of stock which form a part of my estate or any Trust established under this Will, and to exercise all the powers incident to the ownership of stock. (j) To unite with other owners of property similar to property in my estate to carry out plans for the reorganization of any company whose securities form a part of my estate. (k) To disclaim any interest in property which would devolve to me or my estate by whatever means, including but not limited to the following means: as beneficiary under a will, as an appointee under the exercise of a power of appointment, as a person entitled to take by intestacy, as a donee of an inter vivos transfer, and as a donee under a third-party beneficiary contract. (1) To prepare, execute and file tax returns of any type required by applicable law, and to make all tax elections authorized by law. Page 17 en. 11/ (m) To employ custodians of property, investment or business advisors, accountants and attorneys as the Executor or Trustee deems appropriate, and to compensate these persons from assets of my estate or trust, without affecting the compensation to which the Executor and Trustee are entitled. (n) To divide any Trust created in this Will into two or more separate Trusts so that inclusion ratio for purposes of the generation- skipping transfer tax shall be either zero or one, in order that an election under Section 2652(a)(3) of the Internal Revenue Code may be made with respect to one of the separate Trusts, or for any other reason. (0) To do all other acts in their judgment necessary or desirable for the proper and advantageous management, investment and distribution of the estate and Trusts established under this Will. ITEM XI: At the time this Will is made, I am engaged in various business ventures with my son, NICK NICHOLS, which currently consist of owning, managing and renting real estate, and the ownership and operation of a restaurant. These business ventures, and any other business venture in which I may participate at the time of my death is referred to in this Item collectively as the "Business". I grant the Executor and Trustee the following additional powers with respect to the Business, which powers shall be exercisable only in a fiduciary capacity. Further, the exercise of these powers shall be limited during the lifetime of my wife, GEORGIA NICHOLS, so as not to jeopardize Page 18 fA/. ff. /. ; any election under Section 2056 of the Internal Revenue Code with respect to any Trust created under this Will: (a) To direct, control, supervise, manage or operate the Business. (b) To organize a new business organization and to transfer to the new business organization all or any part of the property of the Business; to receive in exchange securities of one or more classes. (c) To report the expenses, earnings and condition of the Business in a manner conforming to the accounting practice customarily used by the Business or otherwise suitable for it. The Executor and Trustee, in determining what is income and what is principal, shall observe standard business and accounting practices, including, without limitation, obsolescence and depreciation. (d) To enlarge, diminish or change the scope or nature of the activities of the Business. (e) To permit or require the Business to retain earnings for normal reserves, working capital requirements or expansion, as the Trustee or Executor deems appropriate. The Executor and Trustee are entitled to rely on the written recommendation of the principal executive officer of the Business (even if that person also is the Executor or Trustee) concerning the need for retention of earnings. This power shall be exercised to permit the maintenance and normal growth of the earning power of the Business. Page 19 ~J. l!/. . The Executor and Trustee shall not be held to personal liability for shrinkage of income or loss of capital value that may be incurred in the course of the operation and/or disposition of the Business, or any part thereof, except loss that may result from the failure to exercise reasonable diligence and prudence. The actions of the Executor and Trustee are to be considered in relation to the inherent risks involved in the operation of a business enterprise. The Executor and Trustee have engaged in a speculative enterprise upon my insistence and at my request. ITEM XII: The Trustee, on an annual basis, shall provide each income beneficiary who has attained the age of eighteen (18) years, and the Guardian of the person of any income beneficiary who has not attained the age of eighteen (18) years, statements showing transactions each Trust established for the benefit of that beneficiary. The beneficiary, or the Guardian of the person of such beneficiary, may waive this right to receive an annual accounting. The Trustee may, at any time, settle any account, or questions concerning the administration of any Trust established under this Will, by agreement with the then current income beneficiaries of the Trust, iflegally competent, or if not legally competent, with the Guardian of the person of the beneficiary, the legally competent spouse of the beneficiary, or the oldest legally competent relative of the beneficiary who would take a portion of the estate of the beneficiary were the beneficiary to die at that time intestate under the laws of Pennsylvania. Any settlement made in accordance with this Item shall bind all persons who have an interest in the Trust, and shall constitute a release and discharge of the Trustee with respect to transactions specified in the settlement. ITEM XIII: In the absence of actual knowledge of a breach of trust, or information concerning possible breach of trust that would cause a Page 20 w.rY: reasonable person to inquire, a successor Trustee is under no duty to examine the accounts and records of a predecessor Trustee, or to inquire into the acts or omissions of the predecessor, and is not liable for any failure to seek redress for any act or omission of the predecessor. The successor Trustee shall have responsibility only for property which is actually delivered to him or her by the predecessor and shall have all of the powers conferred upon a Trustee hereunder. ITEM XIV: The Trustee is authorized to distribute principal and/or income in anyone or more of the following ways if the Trustee, in the sole discretion of the Trustee, considers the beneficiary unable to apply distributions to the beneficiary's own best interests, or if the beneficiary is under a legal disability: (a) Directly to the beneficiary; (b) To the Trustee, or to another person selected by the Trustee, as custodian under the Pennsylvania Uniform Transfers to Minors Act as to a beneficiary under the age oftwenty-one (21) years; (c) To a relative of the beneficiary, to be expended by that relative for the benefit of the beneficiary; or (d) By directly applying distributions for the benefit of the beneficiary . This power shall not apply to any distributions to my wife from any trust which has qualified for the marital deduction in my estate. Page 21 <--1./ W ITEM XV: Should my wife, GEORGIA NICHOLS, by Will or Agreement of Trust, establish Trusts similar to the Trusts I have established for the benefit of my issue, the Trustee of each Trust created in this Will shall have the right to merge it with the similar Trust created by my wife for the same beneficiaries. If merged, the Trustee shall operate the merged Trusts as a single Trust. ITEM XVI: Any person who has died within thirty (30) days of my death, or under such circumstances that the order of our deaths cannot be established by proof, shall be deemed to have predeceased me. Any person (other than myselD who has died at the same time as any beneficiary under this Will, or in a common disaster with that beneficiary, or under such circumstances that the order of deaths cannot be established by proof, shall be deemed to have predeceased that beneficiary. ITEM XVII: I appoint my son, NICK NICHOLS to be the Executor. In the event of his death, inability or refusal to serve as Executor or Trustee, I appoint my daughter, MARIA PAVONE, to be the Executor, Trustee, or both. Each Trustee shall have the power to appoint a Co-Trustee and to appoint his or her successor in office by a written instrument delivered to the successor. Each successor Trustee, upon his or her death, inability or refusal to serve as Trustee, or upon his or her resignation as Trustee, may designate, by an instrument in writing delivered to such successor Trustee during his or her lifetime, or in his or her Last Will and Testament, a successor Trustee. If a Trustee does not validly appoint a successor Trustee, my oldest living issue shall serve as successor Trustee. Each Trustee shall also have the power to designate a temporary Trustee by an instrument in writing delivered to such temporary Trustee. The temporary Trustee shall serve as such only during the legal incapacity of such individual sole Trustee, or, during Page 22 t4J. IV. such period of time as the individual sole Trustee in writing designates, and upon the expiration of such time, or at such time as the legal incapacity of such sole individual Trustee ceases, the sole individual Trustee shall once again become the sole Trustee. Any Co-Trustee appointed by a Trustee may be removed by that Trustee. The Executor and Trustee are specifically relieved from the obligation of filing bond or entering security. ITEM XVIII: I have made this Will with a number of objectives in mind, which include not only orderly administration of my assets at my death, but also the continuation of business ventures in which my son, NICK NICHOLS, and I have engaged at the time of my death. I have invested in him a great deal of power as Executor and Trustee under this Will because I have confidence in his abilities and because I trust his judgment in the administration of the assets comprising my estate. I request that my wife, GEORGIA, my daughter, MARIA, and my other beneficiaries, born and unborn as of the making of this Will, will be guided by my son NICK because he does have good judgment, and because he has the best interests of each member of the family at heart. IN WITNESS WHEREOF, I have set my hand and seal to this, my Last Will and Testament, consisting of this and the preceding twenty-two (22) pages, at the end of each page of which I have also set my initials for greater security and better identification this d)~ day of rid ' 19 'l5'. .44-~ ([/, (//rU~M (SEAL) WILLIAM N. NICHOLS We, the undersigned, hereby certify that the foregoing Will was signed, sealed, published and declared by the above-named Testator as and for his Last Will and Testament, in the presence of us, who, at his request and in his presence and in the presence of each other, have hereunto set our hands and seals the day and year first above written, and we certify that at the time of the execution thereof, the said Testator was of sound and disposing mind and memory. ~u 7 h) 'SEAL) """ding at ) 1e(~~~ Pit ~I < (SEAL) Residingat,-)lX 4~ . -&tda r;pJ- \ -:ti15 ~/)1.M#(sEAL) R..'lingat Wol~ 111 ~~7&5"'3 ACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANIA COUNTY OF A()cV~ ) ) SS: ) I, WILLIAM N. NICHOLS, Testator, whose name is signed to the attached or foregoing instrument, having been duly qualified according to law, do hereby acknowledge that I signed and executed the instrument as my Last Will and Testament; that I signed it willingly; and that I signed it as my free and voluntary act for the purposes therein expressed. .A.-/-< 6?~ - IJ//( fA-tlh WILLIAM N. NICHOLS (SEAL) Sworn to and subscribed before lIle tho iSe;!S-- da~ of '.Ift 01 ,19 'If. 7 (}):I1fAfia~/ J/Jr:yvL NJtary Public (SEAL) r ! Margaret ~O~arial Seal I M Susquehanna r;J,d. fjOlary PUb/lc i.. Y Commission Expire:~/n County -.........._..._.._ une 27,2000 My Commission Expires: '. AFFIDAVIT COMMONWEALTH OF PENNSYLVANIA COUNTY OF 1,,--\,ULy;J)J---:YI ) ) 88: ) , the Witnesses whose names are signed to the attached or ng instrument, being duly qualified according to law, do depose and say that we were present and saw Testator, WILLIAM N. NICHOLS, sign and execute the instrument as his Last Will and Testament; that Testator signed willingly and that he executed said Will as his free and voluntary act for the purposes therein expressed; that each of us in the hearing and sight of the Testator signed the Will as Witnesses; and that to the best of our knowledge the Testator was at that time eighteen (18) or , Jr4Ar .GJ..:jrj/f and ears of age, of sound mind and under no constraint or undue influence. \ I cYw4/1f~//? Witness Sworn to and subscribed before ~~.his, (j S d~of V{W-j If/1'1. ;; lmt1~~CVt1'l A//j;~/c( Nrftary Public I' My Commission Expires: (SEAL) M Notarial Seal argaret L. i30yd N_n, SUlICIuehanna ');wp '0 -~ J Public My COm I' "aUllhln County _~~pjres June 27, 2Obo 173913