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HomeMy WebLinkAbout03-07-05 State of Maryland LETTERS OF ADMINISTRATION Estate No. 17340 I certify that administration of the Estate of EilEEN B SHAUB day of FEBRUARY, 2005 8th was granted on the to LYNN S BENTON, CAROLE S SHADE, JOHN A SHAUB as personal representative(s) and the appointment is in effect day of FEBRUARY, 2005 this 18th Ii!I Will proIJated February 8, 2005 (date) o Intestate estate. .J\~ d( ~ o KAY K. HARTLEB Register of Wills for Howard County V ALtO ONLY IF SEALED WITH THE SEAL OF THE COURT OR THE REGISTER RW1120 ;) 1- 05- 0,)15 STATE OF MARYLAND, HOWARD COUNTY OFFICE OF THE REGISTER OF WILLS Estate No. 17340 I, Kay K. Hartleb, Register of Wills for Howard County, does hereby certify to all persons who may be interested that it appears by the Records of this office, that Administration of the Estate of EILEEN B. SHAUB, deceased was granted on February 8, 2005 to LYNN S. BENTON, CAROLE S. SHADE AND JOHN A. SHAUB. cD Intestate Estate, 0 Un-probated Will, IKI Will probated on 2/8/05) IN TESTIMONY WHEREOF, I hereunto subscribe my name and aIfIx the seal of my office, this date: TEST: ~~ State of Maryland, Howard County I, Charles M. Coles, Jr., Chief Judge of the Orphans' Court for Howard County, Maryland, do certify that the aIoregoing Attestation of Kay K. Hartleb, Register of Wills for Howard County, is in due form and by the duly elected official, who is the custodian of the records and papers of the Orphans' Court for Howard County, and is now in office. date:. Given under my hand, at the Circuit Courthouse, Ellicott City, Maryland, this Chief~th~~~' !b- State of Maryland, Howard County I, Kay K. Hartleb, Register of Wills for Howard County, hereby certify that the Honorable Charles M. Coles, Jr., by whom the above certificate was given and who has hereto subscribed his name, was, at the time of so doing, Chief Judge of the Orphans' Court for Howard County, Maryland, duly appointed by the Governor, commissioned and qualified and is now in office. IN TESTIMONY WHEREOF, I hereunto subscribe my name and aIfix seal of the Court, this date: TEST: ..f<.~ Registe of Wills for Howard County IN THE ORPHANS' COURT FOR (OR) BEFORE THE REGISTER OF WILLS FOR HOWARD COUNTY . MARYLAND IN THE ESTATE OF: Eileen B. Shaub ESTATE NO: 17340 LIST OF INTERESTED PERSONS erl ersonal Representative ~ ciL q-7-tJS- etitioner/Personal Representative Date LynnS. Benton ~ ,.fA'i+~ ,;{-7-OS- etiti r/Personal Representative Date Name (and age if under 18 years) Last Known Address including Zip Code John A. Shaub 426 Inglehard St., South Oakville, Ontario L6J3J6 Canada Carole S. Shade 4276 Club Course Drive Charleston, South Carolina 29420 Lynn S. Benton 4255 Buckskin Lake Drive Ellicott City, Maryland 21042 Ezekiel J. Shaub 1801 Clydesdale Place #307 Washington, DC 20009 MassMutual Trust Company c/o steve Essex 140 Garden street Mail Code H 590 Hartford, CT 06154 I solemnly affirm under the penalties of perjury that the contents of the foregoi the best of my knowledge, information, and belief. Sarah V. Schabes, ESq.vf.~ 1/ .4~ Attorney John A. Shaub 9199 Reisterstown Road, Suite 108B Address Carole S. Shad OWings Mills, MD 21117 410-363-8310 Specify: Heir/Legatee/ Personal Representative Legatee/Heir/Personal Representative/ Trustee Legatee/Heir/Personal Representative! Trustee Legatee/Heir/Personal RepresE>ntative/ TrustE>e Heir Relationship to Decedent son daughter daughter grandson Trustee NonE> . t of interested persons are true to Telephone Number Instructions: 1. Interested persons include decedent's heirs (surviving spouse, children. and other persons who would inherit if there were no will) and, if decedent died with a will, the personal representative named in the will and all legatees (persons who inherit under the will). AU heirs must be listed even if decedent dies with a will. 2 This list must be filled (a) within 20 days after appointment of a personal representative under adrrW~WMo~OW(klmVthe time of filing a Petition tor Judicial Probate or a Petition for Administration of a Small Estate, RW 1104 10J>7 FEB 1 6 Z005 REGISTER OF WIllS State of Maryland, Howard County, Set.: I, Kay K. Hartleb, Register of Wills, and by law, keeper ofthe Seal and of the Records, and of the Original papers of the Orphans' Court of Howard County, Maryland, do hereby certify that the afore going is a true and full copy of THE LAST WILL AND TESTAMENT of EILEEN B. SHAUB late of said county, deceased AND ORDER ADMITTING SAME TO PROBATE TAKEN FROM ORIGINAL AND DULY FILED IN ESTATE NUMBER 17340 and kept in the office of the Register of Wills for Howard County, Maryland. IN TESTIMONY WHEREOF, I hereunto subscribe my name and affix the seal of said Court, this 18th day of February, in the year two thousand five. J(..~ fWills for Howard County ~ ~ ~ , (.., ~\.... .~ HOWARD COUNTY FEB 0 8 Z005 REGISTER OF WILLS Last Will and Testament I, EILEEN B. SHAUB, of Ellicott City, Maryland, revoke my prior wills and declare this to be my last will. I am presently a widow. I have three (3) children, JOHN A. SHAUB ("JACK"), CAROLE S. SHADE ("CAROLE") and LYNN S. BENTON ("LYNN") and a grandson, EZEKIEL J. SHAUB ("ZEKE") by a deceased son. L Debts and Expenses: My executors shall pay from the residue of my estate all proper obligations of my estate, including expenses of my last illness and funeral, costs of the administration of my estate and all other proper charges and enforceable claims against my estate. Payments of these obligations may be charged to estate income or principal in a reasonable manner in the discretion of my executors. II. Specific BeQuests: I give all of my tangible personal property not held primarily for investment purposes, together with all property and casualty insurance then in force on such property, to those of JACK, CAROLE and LYNN who survive me, to be divided among them as they may agree; provided that articles which are not so divided among them shall be sold by my executors and the proceeds thereof divided among said children. It is my intent that said children receive property of equal value pursuant to this Paragraph II, either in the form of tangible personal property and/or in the form of cash proceeds from the sale of such portion of that property which is not divided by them. If such cash proceeds are insufficient to establish the desired equality, then a portion of the residue of my estate shall be used for this purpose. It is my intent that this Paragraph II dispose of items generally considered to be personal and household effects, including, without limitation, furniture, appliances, books, antiques, collectibles,jewelry and vehicles. The reasonable costs of protecting, appraising, packing, storing, shipping, cleaning, delivering and insuring all assets disposed of in this Paragraph II shall be paid as expenses of administering my estate. IlL Disposition of Residue of Estate: The residue of my estate, real and personal, shall be distributed as follows: A. Thirty (30%) percent outright to JACK. B. Thirty (30%) percent outright to CAROLE. C. Thirty (30%) percent outright to LYNN. D. Ten (10%) percent to ZEKE. Said share shall be held by my trustees, IN TRUST, and administered and distributed as provided in Paragraph N. '- ~ J E. Should JACK, CAROLE, LYNN or ZEKE predecease me, the deceased individual's share of the residue of my estate shall instead be distributed: I. To the deceased individual's then-living children, in equal shares; or, if there are no such children, 2. To the remaining individuals named in proportion to the designated percentages for each; and, if another of them is also deceased, then the share which would have been distributed to that individual under this subparagraph shall instead be distributed to that individual's then-living children, in equal shares. If ZEKE receives an additional share of the residue of my estate pursuant to this subparagraph, such additional share shall be added to the separate trust created herein for him, to be administered as provided in Paragraph IV. IV. Trust for ZEKE: The portion of the residue of my estate to which ZEKE becomes entitled in accordance with Paragraph ill of this Will shall be held by my trustees, IN TRUST, to be administered and distributed as follows: A. Except as provided in subparagraph B of this Paragraph IV, the trustee(s) may not use any portion of the income or principal of the trust for any reason whatsoever. B. Upon ZEKE's attaining age sixty (60), the trustee(s) then serving shaU purchase, with aU of the assets ofthe trust, in the discretion of those trustee(s) after consultation with ZEKE ifhe is then married, either (i) a single life annuity for ZEKE or (ii) a joint life annuity for ZEKE and his wife. Upon ZEKE's request, the trustee(s) may defer the purchase of that annuity until such later date as may be selected by ZEKE but which may be no later than ZEKE's attaining age seventy (70). Upon the purchase of that annuity, the annuity shaU then be distributed to ZEKE or, alternatively, to ZEKE and his wife, and the trust shall then terminate. The annuity shall be purchased from such company, and shall have such term certain, as may be determined by trustee(s). C. I have intentionally designed this trust in the manner set forth above recognizing that ZEKE will have the benefit of assets and income from other sources during his lifetime. It is my intent that the annuity to be purchased by the trustee( s) will provide a retirement income for ZEKE (and, if applicable, his wife). D. Should ZEKE die while his trust is being administered hereunder, the then-existing balance of the trust shall be distributed: I. To ZEKE's then-living children, in equal shares. Any amount thus accruing to a great-grandchild of mine who has not attained age thirty-five (35) at such time shaH be held, IN TRUST, as provided in Paragraph V. -2- ~ J ~ c;SJ 2. If ZEKE has no children--and subject to the provisions of subparagraph (a), if applicable--to those charitable organizations selected or named as hereinafter provided. a. If ZEKE was married at the time of his death, up to fifty (50%) percent of that balance may be distributed outright and, free of trust, to ZEKE's widow. What portion, ifany, of that balance [up to the fifty (50%) percent maximum thereof] is to be distributed to ZEKE's widow shall be determined by the unanimous agreement of my three children or, for any of my children who are then deceased, by his or her oldest living child. In making this determination, my three family members shall take into consideration all factors which they determine to be relevant, including the financial security ofZEKE's widow, her age and her health. Such determination shall be in those individuals' sole discretion and shall be final and binding on all parties. Such determination shall be communicated, in writing, to the then-serving trustee( s) of ZEKE' s trust. Should my three family members be unable to unanimously agree on the portion of the trust balance to be distributed to ZEKE's widow within six (6) months of ZEKE's death, or, if they decide ZEKE's widow is to receive none of that balance, the entire trust balance shall be distributed to the charitable organizations selected or named as hereinafter provided, and ZEKE's widow shall receive no portion thereof. b. The charitable organizations which are to receive (i) the entire trust balance if ZEKE dies unmarried and with no children or if ZEKE dies with no children and ZEKE's widow receives no portion ofthat balance as determined in accordance with Paragraph IV(D)(2)(a) above, or (ii) the portion of that trust balance not so distributed to ZEKE's widow, shall be determined by the unanimous agreement of the same three family members designated in Paragraph IV(D)(2)(a) above. Each such organization selected by them must be a religious, charitable or educational institution as described in Section 501(c)(3) of the Code. My three family members shall determine which organizations are to receive the then-existing balance of ZEKE' s trust and in what proportions and for what philanthropic purposes. It is my wish, but I do not direct, that such individuals, in making the selection of institutions to receive this distribution, give careful consideration to the two organizations referred to in subparagraph (c) below, for each of them was meaningful to both me and my husband. The determinations of my three family members shall be in their sole and absolute discretion and shall -3- be final and binding on all parties. Such determinations shall be communicated, in writing, to the then-serving trustee(s) ofZEKE's trust. c. Should my family members be unable to unanimously agree, within six (6) months ofZEKE's death on the selection of charitable organizations, the proportion of the trust balance each is to receive, or each organization's use of the amount it is to receive, then, and in that event, the portion of the trust balance (or the entire trust balance, if applicable) to be distributed to charitable organizations shall be distributed in equal shares, to CORIELL INSTITUTE FOR MEDICAL RESEARCH, of Camden, New Jersey (for its general purposes) and THE SECOND MILE, of State College, Pennsylvania (for its general purposes). If either ofthese organizations at such time no longer qualifies for tax-exempt status under Section 50l(c)(3) of the Code, the then-existing balance of the trust shall be distributed to the other such organization. v. Trusts for Grandchildren and Great Grandchildren: In the event a grandchild, other than ZEKE, or a great grandchild of mine becomes entitled to receive a portion of my estate hereunder and at such time the beneficiary has not attained age thirty-five (35), such portion shall be administered, IN SEPARATE TRUST, for the benefit of that grandchild or great grandchild as follows: Trustees may pay so much of the annual net income and so much of the principal of the beneficiary's separate trust as trustees determine to be necessary, in trustees' sole discretion, to provide for the beneficiary's health (including medical, dental and mental care expenses), maintenance, education (including preparatory, undergraduate, graduate, professional or trade school training) and support in the beneficiary's accustomed standard ofliving. Trustees may make said distributions of income and principal i) to the surviving parent or guardian of the person of the beneficiary if the beneficiary has not attained age eighteen (18) at such time; ii) directly to a beneficiary who is age eighteen (18) or older; or, iii) directly for the beneficiary's benefit regardless ofthe beneficiary's age. Any net income not so distributed shall be added to principal and invested as such. Each beneficiary shall have the right to withdraw the entire balance of his or her separate trust at any time after attaining age thirty-five (35). Should a beneficiary die while his or her separate trust is being administered hereunder, then upon his or her death, trustees shall distribute the principal and undistributed income of the trust, to such person or persons, including the beneficiary's estate, as the beneficiary shall appoint in his or her last will. This testamentary general power of appointment is exercisable by the beneficiary alone and in all events only by specific reference thereto in his or her last will. Any amount not so -4- ~ 5 ~ , s2 ,~ <9) appointed shall be distributed to the beneficiary's then-living siblings, in equal shares; or, if there are no siblings, to the beneficiary's estate, free of any trust. Any amount thus accruing to an individual for whom principal is then held in trust hereunder shall be added to said principal and administered as such. VI. Protective Provision: No interest in income or principal shall be assignable by, or available to anyone having a claim against, a beneficiary before actual payment to the beneficiary. VII. Manal!:ement Provisions: Except as otherwise specifically provided herein, I authorize my executors and my trustee: A. To invest in any type of investment which plays an appropriate role in achieving the investment goals of my estate and each trust created hereunder, which investment shall be considered as part of the total portfolio. It is my specific direction that no category or type of investment shall be prohibited. I specifically do not wish to limit the universe of investments in any way other than is dictated by my executors' and trustees' exercise of reasonable care, skill, and caution. My executors and trustees are specifically entitled to take into account (i) general economic conditions; (ii) the possible effect of inflation or deflation; (iii) the expected tax consequences of investment decisions or strategies; (iv) the role which each investment or course of action may play within the overall trust portfolio (which portfolio may include financial assets, interests in closely held enterprises, tangible and intangible personal property, and real property); (v) the expected total return from income and the appreciation of capital; (vi) other resources of the beneficiaries; (vii) the needs for liquidity, regularity of income and preservation or appreciation of capital; and (viii) an asset's special relationship or special value, if any, to my estate, the purposes ofthe trusts created hereunder and/or one or more of the beneficiaries. My executors and trustees shall not be limited to anyone investment strategy or theory, but shall consider any appropriate investment strategy or theory under all the circumstances. B. To (i) compromise claims; (ii) abandon any property which, in my executors' or trustee's opinion, is oflittle or no value; and (iii) make disclaimers on my behalf without Court authorization. C. To sell at public or private sale, to exchange or to lease for any period of time any real or personal property and to give options for sales or leases. D. To distribute in cash or in kind at date of distribution values and allocate specific assets (and partial interests in assets) among the beneficiaries in such proportions as my executors or trustee may think best (so long as the total market value of any -5- beneficiary's share is not affected by such allocation), and to make such distributions on a non- pro-rata basis. These authorities shall extend to all real and personal property at any time held by my executors and trustee and shall continue in full force until the actual distribution of all such property. All powers, authorities, and discretion granted by this will shall be in addition to those granted by law and shall be exercisable without leave of court. VIII. Death Taxes: All federal, state and other death taxes payable on the property forming my gross estate for tax purposes, whether or not it passes under this will, shall be paid out of the principal of my residuary estate, just as if they were my debts, and none of those taxes shall be charged against any beneficiary. IX. Executors: I appoint JACK, CAROLE and LYNN co-executors of this will. Should any of them fail to legally quality or cease to act as executor, the remaining child(ren) shall serve as executor(s) of this will. With regard to any bank, brokerage or other depository \. account established by my co-executors on behalf of my estate, I specifically direct that the signature of anyone of my co-executors who is serving in that capacity at such time shall be sufficient to open, maintain and/or sign any checks issued from, or any other forms or documents related to, any such account. X. Trustees: A. I appoint JACK, CAROLE, LYNN and MASSMUTUAL TRUST COMPANY, FSB, or its successors in reorganization or merger ("MASSMUTUAL"), trustees of the trust created herein for ZEKE. Should any of my children fail to legally quality, cease to act or resign as trustee, my remaining child(ren) shall continue to serve with MASSMUTUAL. Should all of my children fail to legally quality, cease to act or resign as trustee, MASSMUTUAL shall serve as sole trustee of said trust. B. I appoint JACK, CAROLE, LYNN and MASSMUTUAL trustees of any trusts created herein for ZEKE' s children. Should a child of mine fail to legally quality, cease to act (due to death or incapacity) or resign as trustee, he or she shall be succeeded as trustee (subject to obtaining any required approval ofthe Court of applicable jurisdiction) by such child's then-living oldest child. It is my intent that, for so long as each of my children has a child surviving him or her, there be four (4) trustees of any trust for a child ofZEKE's- MASSMUTUAL and a child of each of my three (3) children. Provided, however, if a child of mine has no living children during the continuance of any such trust (or, if there is no living child of a deceased child of mine willing to serve as a trustee) such vacancy shall not be filled, and the remaining trustees named herein shall serve as the only trustees of such trust. -6- C. I grant to JACK, CAROLE and LYNN the power to revoke the appointment of MASS MUTUAL as a trustee of the trust created herein for ZEKE. I grant to the then-serving individual trustees of any trust for a child of ZEKE the power to revoke the appointment of the then-serving corporate trustee (whether it be MASSMUTUAL or a successor corporate trustee). Any decision to revoke the appointment of the corporate trustee shall be made by the unanimous agreement of the individual trustees serving at such time, or, if there is only one individual trustee serving, in that individual trustee's sole discretion. Upon receipt of written notice of the revocation of its appointment, the corporate trustee so removed shall retire from the trusteeship and shall be released from all liabilities as such corporate trustee upon filing an account and securing the usual order of the Court having jurisdiction of the same releasing such corporate trustee from the duties of its appointment. This right ofremoval and appointment shall not be assignable and shall at no time be deemed to have been exhausted but shall continue and may be exercised from time to time, at any time, with respect to any substituted or successor corporate trustee. " D. MASSMUTUAL shall have the right to resign as trustee of any trust created herein upon reasonable notice to each of its beneficiaries and to any co-trustee(s). Upon such resignation, the resigning corporate trustee shall use its reasonable efforts to have a successor appointed with approval by a court of competent jurisdiction. In the event that the resigning corporate trustee is unable to secure a successor, the resigning corporate trustee, any co-trustee or any beneficiary shall have the authority to seek the appointment of a successor corporate trustee by a court of competent jurisdiction. A corporate trustee's resignation shall be effective upon the court's approval of a successor corporate trustee. E. Any such successor corporate trustee shall be a financial institution having trust powers. Said successor corporate trustee shall have the same powers and rights and shall be subject to the same duties and obligations as are given to and imposed upon the corporate trustee herein named. Any such successor corporate trustee is expressly relieved of any duty or responsibility to audit or review the actions or accounts of its predecessor and, further, is relieved from any liability for the acts or omissions of its predecessor, known or unknown. XI. Compensation: A. MASSMUTUAL shall be entitled to compensation for its services in accordance with its standard schedule of fees in effect from time to time during the period over which its services are performed. B. Each individual fiduciary who serves hereunder shall be entitled to reasonable compensation for all ordinary and extraordinary services rendered in the performance of his or her duties and responsibilities hereunder. In addition, each such individual shall be -7- reimbursed for any expenses incurred by that individual in connection with administering my estate and/or any trust created hereunder. XII. Ancillarv Executor: If it becomes necessary to have ancillary administration of my estate in any jurisdiction where my executor is unable or unwilling to qualifY as ancillary executor, I appoint as such ancillary executor such individual, individuals or corporation as my executor shall designate. I direct that any balance of my property remaining after such ancillary administration be delivered, to the extent allowed by law, to my executor for disposition in accordance with the provisions hereof. I direct that all ofthe powers, privileges and immunities granted to my executor hereunder shall also apply to any ancillary executor; provided, however, that any decision or action of any ancillary executor or any substitute therefor which may require the investment of additional funds or the assumption of additional obligations by my estate must have the approval and concurrence of my executor hereunder. XIII. Definition of Code: The use of the phrase "the Code" in this document is a reference to sections and subsections of the Internal Revenue Code of 1986, as amended, and shall include any comparable sections and subsections, or any reenactment of that statute, which may be in effect at my death. XIV. Gender: Waiver of Bond: The terms used to denote the fiduciary or fiduciaries who shall be acting under this will from time to time are used without regard to number or gender. No fiduciary shall be required to file a bond in any jurisdiction where such fiduciary shall serve. EXECUTED ON HAY ;;2.. 7 2004 ~~(7h_~ (m1lY EILEEN B. SHAUB (SEAL) The preceding instrument, consisting of this and seven (7) other typewritten pages, each identified by the signature ofthe Testatrix was on the day hereof, signed, published and declared by EILEEN B. SHAUB, Testatrix herein named, as and for her Last Will, in the presence of us, who at her request and in her presence and in the presence of each other, have subscribed our names as witnesses hereto. ~ ~ ltness ~~~ itness ~ ., -8- ACKNOWLEDGMENT STATE OF H//wn ,j COUNTY OF I-IOI...Ua,vr:! ) ) SS: ) I, EILEEN B. SHAUB, Testatrix, 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; that I signed it willingly; and that I signed it as my free and voluntary act for the purposes therein expresse~,~ I ~ EILEEN B. SHAUB Sworn or affirmed to and acknowledged before me, by EILEEN B. SHAUB, the Testatrix <hi, c>;L d'yof M~-I ,2004. ~ / '.' /7? .' :?, ~ Notary Public STEPHANO 1. NAM NOTARY PUBLIC STATE Of MARYLAND 'IV C....ml..;on El<pires No_ber 26, 2007 AFFIDAVIT STATE OF ~t:(..?/~d ) ) SS: COUNTY OF #04../OvVI ) We,b/ I-~t g. S}(AVJb, the Testatrix, and L>icKlSu+k'\::! and 0.. , the witnesses respectively, whose names are signed to the foregoing instrum nt, being first duly sworn, do hereby declare to the undersigned officer that the Testatrix signed the instrument as her Last Will and Testament, and that she signed so voluntarily and that each of the witnesses in the presence of each other, signed the Will as a witness, and that to the best of the knowledge of each witness, the Testatrix was at that time eighteen (18) or more years of age, of sound mind and under no constraint or undue influence. \G . HA ~ Sworn to and subscribed before me this ?-7 day of M ""--} / .' ~71~ Notary Public ,2B04. . ~ ' 'I' I STEPHANO 1. NAM NOTARY PUBLIC STATE OF MARYLAND My Commi..ion Expire, November 26, 2007 - 9 - :ODMA\PCOOCSIDOCSUB2\212908\9 -~ IN THE ORPh~NS' COURT FOR (OR) BEFORE THE REGISTER OF WILLS FOR Howard County , MARYLAND IN THE ESTATE OF: EILEEN B SHAUB ESTATE NO: 17340 ADMINISTRATIVE PROBATE ORDER Upon the foregoing Petition for Administrative Probate, and any bond requirement having been met, it is this 8th day of FEBRUARY, 2005. ORDERED that LYNN S BENTON. CAROLE S SHADE. JOHN A SHAUB is (are) appointed personal representative(s) of the Estate of EILEEN B SHAUB; and further ORDERED that the will dated May 27, 2004 (and codicils, if any, dated is (are) admitted to probate. J<~ J<.~ KAY K. HARTLEB Register of Wills RW 1119 PS-3575