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HomeMy WebLinkAbout03-30-05 (2) . ".'---', ,.,..-.~.,.,.; .,.... .,,--..,.-~...~-.....",...... ,,,,,~,,c-.. I. k~! No. ~ J - oS- - 0 c;( 9 1 Estate of . FAY E. SOUDER , Deceased DECREE OF PROBATE AND GRANT OF LETTERS AND NOW (V}a,rc.,h JO X:;(6{))", in consideration of the petition on the reverse side hereof, satisfactory proof having been presented before me, IT IS DECREED that the instrument(s) dated. 8' September 2004 described therein be admitted to probate and filed of record as the last will of pAy E. SOUDeR and Letters TestamentarY are hereby granted to T.~nf~rd N. Kinney FEES Probate, Letters, Etc. ......... $ Short Certificates( ).......... $ RenUnciation ................$ $ TOTAL _ $. , Jr .','" Esquire Camp Hill, PA 17011 ADDRESS (717) 737-9211 FlIed ,.. PHONE LAST WILL AND TESTAMENT OF FA Y E. SOUDER I, FAY E. SOUDER, of Mechanicsburg, Hampden Township, Cumberland County, Pennsylvania, do hereby make this my Last Will and Testament, revoking any former Wills and Codicils made by me. FIRST: I am an unremarried widow, having been married to Raymond Melvin Souder. I have four children: Ray M. Souder, Jr. (born July 6, 1937); Joyce A. Kinney ~ j'1 (born July 27, 1939); Shirley Ann Snyder (born November 10, 1940) and Paul H. .. i Souder (born June 29, 1942). These four children are described in this WiILa,s "my children," or as "a child of mine." Any person born to or adopted by a child of'mine.~is " described in this Will as "my issue." Provided, however, no adopted person shalf 1 benefit hereunder unless the order or decree of adoption is entered before !such adopted person attains the age of twenty-one (21) years. SECOND: I give my tangible personal property and all casualty insurance that I am carrying on said tangible personal property to my children who are living at my death to be divided equally among or between them as my Executor may determine. have complete confidence that my Executor will honor any written instructions that I may leave with regard to said tangible personal property. Any such property not so distributed shall be sold, and the proceeds added to my residuary estate to pass as hereafter described, or be distributed as my Executor otherwise determines. THIRD: 'give and bequeath to my sister, Ruth Wevodau, if she shall survive me, the sum of Ten Thousand Dollars ($10,000). FOURTH: , give to my son-in-law, Linford N. Kinney, if he shall survive me, cash or other property equal in value to one percent (1 %) of the value of my property listed on the inventory of my real and personal estate filed with the Register of Wills of the county of my residence at the time of my death. c' j.[.1 Last Will and Testament of FAY E. SOUDER Page 1 of 9 FES FIFTH: I presently own a tract of real property, which was formerly a part of the farm owned by my late husband and me, situate adjacent to the West boundary of the right-of-way of Pennsylvania Interstate Route 581 northwest of the Creekview Road interchange, on which is erected a communications tower, which real property was leased by my husband and me to United Telespectrum, Inc. ("United Telespectrum"), now to its successors and assigns ("said lease"). Said lease provides payments to me in monthly installments, as adjusted periodically as set forth in said lease, and the lease has several options for renewal. At the time of my death, I direct my Executor and Trustee, hereinafter named, to establish a trust, the res of which shall be the land on which the United Telespectrum tower is erected, and all lease payments thereafter on account of the rental thereof under said lease shall be paid to the Trustee and held in trust. The monthly lease payments shall be invested by my Trustee as my Trustee, in his or its sole discretion, determines shall be appropriate and the net income from that trust, including all interest earned from the investment of the periodic lease payments, shall be distributed once annually in each December in equal shares to my four children, or their beneficiaries as set forth in Items SIXTH (1) through (4) inclusive hereafter. If any of my said children fail to survive me, then their respective share shall be distributed to their respective beneficiaries as set forth for each of them in Items SIXTH (1) through (4) inclusive hereafter. At the termination of said lease, in the event United Telespectrum or its then successor and assigns elects not to reach an agree- ment with the Trustee to purchase the real property on which the tower is erected, then my Trustee shall proceed to sell or otherwise dispose of said real property and distribute the proceeds therefrom equally among my children or their respective beneficiaries as set forth in Items SIXTH (1) through (4) inclusive hereafter, and the trust shall thereupon terminate. -} t 1 Last Will and Testament of FAY E. SOUDER Page 2 of 9 FES SIXTH: I give, devise and bequeath the rest, residue and remainder of my estate, real and personal, which thereupon shall be divided into four equal shares and distributed, as follows: (1) One share to my son, Ray M. Souder, Jr., if living. If he is not then living, his share shall be divided into two separate and equal shares, one share to be distributed outright to Ray's son, Steven, and the other share to be held in trust for the benefit of Ray's son, Gregory. The Trustee shall distribute annually to Gregory all net income from the Trust, together with an annual contribution of ten percent (10%) of the principal in said Trust at its inception, so that the principal of said Trust shall be exhausted after ten years from inception and thereupon terminated. In the event, Gregory dies prior to distribution of all funds from the trust for his benefit, the remaining principal and income shall continue to be paid on the ten year installment basis to his issue. If Gregory dies without issue, then the remaining funds held in trust for him shall be distributed outright to his brother, Steven, or his issue. (2) One share to my daughter, Joyce A. Kinney, if living. If she is not then living, her share shall be given to her daughter, Janet. (3) One share to my daughter, Shirley Ann Snyder. If she is not then living, her share shall be distributed to her husband, Jerome Snyder. (4) One share to my son, Paul H. Souder, if living. If he is not then living, his share shall be divided into two separate and equal shares, a one-half share to his wife, Alberta, and one-half share to his son, Michael, or to the survivor of them. (5) If at the time of my death, or at any later time prior to final distribution hereunder, my children and all persons named in Items SIXTH (1) through (4) inclusive are deceased and no other disposition of the property is directed by this Will, then and in that event only, the then-remaining principal of this Will and of any Trust created hereunder, together with any undistributed income, shall be divided and paid over and distributed one-half (%) to those persons then living who would then be my heirs, their identities and respective shares to be determined in accordance with the law then in Last Will and Testament of FAY E. SOUDER Page 3 of 9 Jil FES effect in the Commonwealth of Pennsylvania, as if , had then died intestate, and one- half (%) to those persons then living who would then be my late husband's heirs, their identities and respective shares to be determined in accordance with the law then in effect in the Commonwealth of Pennsylvania, as if he had then died intestate. (6) Except as otherwise provided herein, if any share hereunder becomes distributable to a beneficiary who has not attained the age of twenty-five (25) years, then such share shall immediately vest in such beneficiary, but notwithstanding the provisions herein, my Trustee shall retain possession of such share in trust for such beneficiary until such beneficiary attains the age of twenty-five (25) years, using so much of the net income and principal of such share as my Trustee deems necessary to provide for the proper medical care, education, support and maintenance of such beneficiary, taking into consideration to the extent my Trustee deems advisable any other income or resources of such beneficiary or his or her parents known to my Trustee. Any income not so paid or applied shall accumulate and be added to princi- pal. Such beneficiary's share shall be paid over and distributed to such beneficiary upon attaining the age of twenty-five (25) years, or, if he or she shall sooner die, to his or her executors or administrators. I recommend that my Trustee consider distributing periodically all income from such share to such beneficiary after such beneficiary attains the age of twenty-one (21) years. SEVENTH: If any beneficiary and' should die under such circumstances as would render it doubtful whether the beneficiary or , died first, then it shall be conclu- sively presumed for the purposes of my Will that said beneficiary predeceased me. EIGHTH: (1) I name my son-in-law, Linford N. Kinney, as my Executor and Trustee, or, in the event he is unable or unwilling to do so, I name Pennsylvania State Bank as my Executor and Trustee. I direct that my Executor and Trustee, and their successors, hereinafter referred to as my Executor and Trustee respectively regardless of number or gender, serve without bond in any jurisdiction in which called upon to act. Last Will and Testament of FAY E. SOUDER Page 4 of 9 j.[~ FES (2) Except as otherwise provided herein, if all those persons named in Paragraph (1), or any successor as herein defined, should fail to qualify as Executor or Trustee hereunder, or for any reason should cease to act in such capacity, the succes- sor or substitute Executor and Trustee shall be some bank or trust company with trust powers, which successor or substitute Executor or Trustee shall be designated in a written instrument filed with the court having jurisdiction over the probate of my estate and signed by or on behalf of a majority of my children, or, if they fail to act, by the court having jurisdiction over my estate and any trusts created hereunder. The situs of any trust may be transferred to the situs of such successor or substitute Executor or Trustee by designation in the written instrument aforesaid. NINTH: (1) I give to any Executor and to any Trustee named in this Will or any Codicil hereto or to any successor or substitute Executor or Trustee all of the powers enumerated in this Will and all of the powers applicable by law to fiduciaries in the Commonwealth of Pennsylvania and in particular through the Pennsylvania Probate, Estates and Fiduciaries Code, as effective and as in effect on the date hereof, during the administration and until the completion of the distribution of my estate, and until the termination of all trusts created in this Will or any Codicil hereto and until the comple- tion of the distribution of the assets of such trusts. I direct that all such powers shall be construed in the broadest possible manner and shall be exercisable without court authorization. (2) In determining the federal estate and income tax liabilities of my estate, my Executor shall have discretion to select the valuation date and to determine whether any or all of the allowable administration expenses in my estate shall be used as federal estate tax deductions or as federal income tax deductions. (3) If at any time any trust created hereunder (or any share thereof if the trust shall have been divided into shares) shall be of such value that, in the opinion of my Trustee, the administration expense of holding the assets contained therein in trust is not justified, my Trustee, in its absolute discretion, may terminate such trust and Last Will and Testament of FAY E. SOUDER Page 5 of 9 if) FES distribute the trust property to the person or persons then entitled to receive or have the benefit of the income therefrom or the legal representative of such person. If there is more than one beneficiary, my Trustee shall make such distribution to such income beneficiaries in the proportion in which they are beneficiaries, or, if no proportion is designated, in equal shares to such beneficiaries. (4) My Executor and Trustee are authorized and empowered to acquire and to retain, either permanently or for such period of time as my Executor or Trustee may determine, any assets, including the capital stock of any closely held corporation, whether such assets are or are not of the character approved or authorized by law for investment by fiduciaries and whether such assets do or do not represent an overcon- centration in one investment. (5) My Executor and my Trustee are authorized and empowered to disclaim any interest, in whole or in part, of which I, or my Trustee, may be the benefic- iary, devisee, or legatee, by executing an appropriate instrument (in accordance with section 2518 of the Internal Revenue Code of 1986, as amended, or such similar section as may then be in effect). (6) My Executor and Trustee are authorized and empowered to sell at public or private sale, or exchange, and to encumber or lease, for any period of time, any real or personal property and to give options to buy or lease any such property. Additionally, my Executor and Trustee are authorized and empowered to compromise claims, to borrow from anyone (including a fiduciary hereunder) and to pledge property as security therefor, to make loans to and to buy property from anyone (including a fiduciary or beneficiary hereunder); provided that any such loans shall be adequately secured at a fair interest rate. (7) My Executor and Trustee are authorized and empowered to allocate property, charges on property, receipts and income among and between principal or income, or partly to each, without regard to any law defining principal and income. TENTH: No interest of any beneficiary under this Will, any Codicil hereto, or any trust created herein, shall be subject to anticipation or to voluntary alienation. Last Will and Testament of FAY E. SOUDER Page 6 of 9 jEi FES ELEVENTH: All estate, inheritance, succession and other death taxes imposed or payable by reason of my death and interest and penalties thereon with respect to all property comprising my gross estate for death tax purposes, whether or not such property passes under this Will, shall be paid out of the residue of my estate, as if such taxes were expenses of administration, without apportionment or right of reimburse- ment. I authorize my Executor and my Trustee to pay all such taxes at such time or times as deemed advisable. IN WITNESS WHEREOF, I have set my hand and seal on this my Last Will and Testament this q day of September, 2004. !~o~~e~ ATTESTATION CLAUSE. The foregoing Will was this day of September, 2004, signed, sealed, published and declared by the Testatrix as and for her Last Will and Testament in our presence, and we, at her request and in her presence, and in the presence of each other, have hereunto subscribed our names as witnesses on the above date. ~ ~~.__.- Of~d(;J- of ~ l--h'I' I PA of Last Will and Testament of FAY E. SOUDER Page 7 of 9 SELF-PROVING AFFIDAVIT COMMONWEALTH OF PENNSYLVANIA SS. COUNTY OF CUMBERLAND I, FAY E. SOUDER, Testatrix, whose name is signed to the attached or forego- ing instrument, having been duly sworn according to law, do hereby acknowledge that I signed and executed the attached 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 on the '3 day of September, 2004. t~so~!~ Subscribed, sworn to, and acknowledged before me by FAY E. SOUDER, the Testatrix, this <6~ day of September, 2004. ~~~~~ Notary Public '\..J Nor ARIAL SEAL MARJORIE L JOHNSON, Notary Public Camp Hili Boro., Cumberland County Mv Commission Expires April 15, 2007 Last Will and Testament of FAY E. SOUDER Page 8 of 9 SELF-PROVING AFFIDAVIT COMMONWEALTH OF PENNSYLVANIA SS. COUNTY OF CUMBERLAND WE, the witnesses whose names are signed to the attached or foregoing instrument, being duly qualified according to law, do depose and say that we were present and saw FAY E. SOUDER, sign and execute the instrument as her Last Will and Testament; that she signed willingly and that she executed it as her free and voluntary act for the purposes therein expressed, that each of us in the hearing and sight of FAY E. SOUDER, signed the Last Will and Testament as witnesses; and that, to the best of our knowledge FAY E. SOUDER, was at the time eighteen (18) years of age, of sound mind, and under no constraint or undue influence. ~~~/ Witness Witness Witness Subscribed, sworn to, and acknowledged before me by William E. Miller, Jr,. ***************************** and Alicia S. Miller the witnesses, this B~ day of September, 2004. ~AJ()~~ Notary Public "- Last Will and Testament of FAY E. SOUDER Page 9 of 9