The URL can be used to link to this page

Home My WebLink About04-24-14 . �� ,� �, - �� m � o t�-, n Estate Settlement Agreement � � �' ° Estate of Dorothy E. Grady :�' � " � �� `� � __ r._ rv s�7 r-- � r�'a ,s • , c� a/k/a Dorothy H. Grady � �� _�� : �°ry,, �,, �; -� , `� � �'' -�� C� � '�.� "�� n ��': C'� . %`7 �"� �`- {y� ""� �" O THIS AGREEMENT, made the'� day of May, 2013 by and am�g,Walt�n P. T' Truely, Executor of the Estate of Dorothy E. Grady a/k/a Dorothy H. Grady, deceased(hereinafter referred to as Executrix) and Walteen P.Truely and Walter A. Grady, Jr., heirs of the estate (hereinafter collectively called the Heirs). In accordance with the desire that the administration of the estate be completed without the further delay and expense of a formal Court Accounting,the parties hereto,in consideration of the mutual promises and covenants expressed herein,and intending to be legally bound hereby Agree as follows: i.The Estate of Dorothy E.Grady a/k/a Dorothy H.Grady,deceased who died April 3oth, 2oi2, is in the process of Administration, Letters Testamentary having been duly issued to the Executor by the Register of Wills of Cumberland County, PA on June 22°a, 2oi2, and indexed to No. 2i-12-o698. 2. Under the provisions of the Will, and Codicil, copies of which are attached,the following scheme of distribution was set forth: "FOURTH: I give, deUise, and bequeath all of my Estate, whether, real,personal or mixed, and wherever the situated in equal shares to my children Walteen P. Truely and WalterA. Grady,Jr.,per stirpes." 3. The decedent named no other beneficiaries than those mentioned herein,nor did he leave any assets to any other person,party,or organization than those mentioned herein. 4. The children of the decedent were all older than twenty-one(21)years old at the time of the demise of the decedent. 5. The said beneficiaries are entitled to share the estate as per the distribution scheme mentioned in Paragraph"Fourth,"of decedent's Last Will and Testament,however Walter A. Grady, Jr. Directs by executing this document that all proceeds to which he is entitled under the last will and testament of his mother,Dorothy E.Grady,decedent herein, be directed to and become the properry of his sister and Walteen P. Truely, also an heir herein. 6. The parties acknowledge that the Executor received, or is entitled to receive the assets listed in the accounting, and made the payments as set forth in the First and Final Account of the Estate as attached hereto as Exhibit "B" and made a part hereof. �. Following receipt of the Estate Tax Closing Letter and any estate tax deficiency that may be assessed or any other proper expense or liability of the estate of which the Executor has proper and timely notice, or which may otherwise be due and payable, the Executor will make distribution to the Beneficiaries in proportion to their interest as set forth above without further accounting. The distribution will also provide for the distribution of assets received after the date of this document.Should any proper liabilities of the estate arise or come to the attention of the Executor or any of the other parties hereto, the beneficiaries agree to be jointly and severally liable therefor. 8.The parties,and each of them,hereby forever fully release,compromise,settle and discharge any and all claims, demands, actions or causes of action, legal or equitable, absolute or contingent,vested or hereafter to accrue,which any of them may have against any other party hereto or against the Estate of Dorothy E. Grady a/k/a Dorothy H. Grady, deceased, or the Executor thereof,by reason of any matter, cause or thing growing out of or relating to any property or asset of the estate, or growing out of or relating to any act of the Executrix in her administration of the estate, and further agree that any period for the 2 limitation of actions for the collection of any erroneous distribution and in no event shall the period for collection of any erroneous distribution be less than two years after actual discovery thereof by the Executor. 9. The parties agree to execute such additional releases as the Executor may submit to them in order to confirm their discharge from any further liability to the parties in connection with this estate. lo.The foregoing provisions which apply to the Executor named herein shall apply to any other Executor appointed 'an connection with any ancillary administration which may be required in the future for whatever reason. ii.This agreement may be executed in multiple counterparts and,when so executed, shall be binding upon all the parties,their heirs,next-of-kin,personal representatives and assigns. IN WITNESS WHEREOF,the parties have hereunto set their hands and seals the day and year above written. �� Walteen P. Truely, Executor and B eficiary COMMONWEALTH OF PENNSYLVANIA ) . ss.. COUNTY OF CARBON ) On this 3'�Dday of /�'� , 2oi3 before me, a Notary Public, the undersigned officer,personally appear d,Walteen P.Truely,�xecutor and heir,known to me (or satisfactorily proven) to be the person whose names are subscribed to the within instrument, and acknowledged that she executed the same for the purpose therein contained. IN WITNESS WHEREOF,I have hereunto set my hand and notarial seal. NQTARIAL SEAL MICHAEL J GARFIEID Motary Public Public PENN FOREST TWP.,CARBON COUNTY My Commission Expires Jun 30,2016 3 PROPOSED DISTRIBUTION TO BENEFICIARIES i Walte n P Truely ��_/ `�/` 2 Walter A. Grady,Jr. � 3 ��. O� �110 G� � t'�c��m�' 4 5 S;a�d�, a� ��c�r�i�d,,, l�. wa.tik� �, - G��, �S R b� khts I,�k�' (Y1�.a � ZOl3 �.-�oc�e.. YY�e.. 0�.1�o-�-e�, �1 ub�.�c..� 6 '"�"�Y � s��. c5�'r � �10 �'��tamvrnQ�� 7 'J�t'MER� �OT c� �\��/�'�.� 8 � '�" c � � W t'�i�, "'��..• �c� y��;,.�� =��'�^ , �• � 9 S 5 r�;. ac,.. � '�r E OF -------------------- TOtSI $0.00 5 FIRST AND FINAL ACCOUNr OF Walteen P.Truely Executrix of the Estate of Dorothy E. Grady Date of Death: April3oth, 20�2 Date of Administrator's Appointment: June 22, 2012 Accounting for the Period: April 30, 20�2 to May 1, 2oi3 Purpose of the Account: Anita Kozak offers this account to acquaint interested parties with the transactions that have occurred during administration.The account also indicates the proposed dis- tribution. It is important that the account be carefully examined. Requests for additional information and any other questions can be discussed with: Michael J. Garfield, Esq. P.O Box 609 Albrightsville, Pa. 18210 (570) 722-3g39 SUMMARY OF THE ACCOiTNT Proposed Distribution: Page Principal Receipts: 2 $22,311.�� Net Gain/(Loss) on Disposition: $o.00 -------------------- $22,311.11 Less Disbursements: Debts of the Decedent 3 $1�365•39 Funeral Expenses 3 $2�996•55 Administration Expenses 4 $1,6�0.00 Fees&Commissions 4 $1,200.00 State and Federal Taxes 4 $511.88 $7�743•82 -------------------- -------------------- Balance before Distributions: $14�567•29 Distribution to Beneficiaries: $�,000.00 Principal Balance on Hand: $7�567•29 Income: Receipts: Less Disbursements: $o.00 Balance before Distributions: Distributions to Beneficiaries: $o.00 Income Balance on Hand: $o.00 Combined Balance on Hand: $7�567•29 1 RECEIPTS OF PRINCIPAL Assets listed on Inventory (Assets valued as of date of death) CASH Mauch Chunk Trust Co $16,143-99 Total Cash -------------------- $16,�43•99 TANGIBLE PERSONAL PROPERTY �otal I�ersonal Property-------------------• $o.00 STOCKS &BONDS Total Stocks -------------------- $o.00 REAL PROPERTY Total Real Estate -------------------- $o.00 Total Receipts =__________� $16,143•99 RETURNS OF PRINCIPAL Total Return -------------------• $o.00 RECEIPTS OI�INSUF.�iNCF $6,i6�.12 Total Receipts -------------------- $6,i6�.12 GAINS (LOSSES) ON SALE OR OTHER DISPOSITIONS Net Gain (Loss) on Sales or other Dispositions -------------------- $o.00 2 TOTAL PRINCIPAL $22,3�1.i1 DISBURSEMENTS of PRINCIPAL Date Debts of the Decedents Cumberland Goodwill Fire Co ambulance $101.53 Millenium Pharmacy $394•2O Commercial Acceptance Co $320.00 Presbyterian Home Inc $549•66 -------------------- $1�365•39 Funeral Expenses Egger Funeral Home $2�996•55 -------------------- $2�996•55 Administration Expenses Register of Wills MCT new key safe deposit box $20.00 D&D Plumbing $1�55a•oo Reserved for Register of Wills $ioo.00 -------------------- $i,6�o.00 Fees&Commissions Michael J. Garfield, Esq Attorney Fee $�,200.00 -------------------- $1,200.00 State and Federal Taxes Pa Inhertiance t� $511.88 -------------------- $5ii.88 3 INCOME DIVIDENDS Total Dividends ---------------------- $o.00 INTEREST TotalInterest ---------------------- $o.00 Total Receipts of Income $o.00 4 PROPOSED DISTRIBUTION TO BENEFICIARIES 1 Walteen P.Truely $7�567•29 2 Walter A. Grady, Jr. 3 4 5 6 7 8 9 -------------------- Total $�,567.29 5