HomeMy WebLinkAbout07-11-14 � 1505610105
REV-1500 EX�oz_��>�F�>,.. .
OFFICIAL USE ONLY
PA Department of Revenue pennsytvania
Bureau of Individual Taxes °`°"'"`"T°`"`°`�°` County Code Year File Number
INHERITANCE TAX RETURN
PO BOX 28o6oi �� , �� I( � I
Harrisburg PA 1�128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death MMDDYYYY Date of Birth MMDDYYYY
.
__ _ _
. _
' 10/11/2013 11/27/1923
DecedenPs Last Name Suffix DecedenYs First Name MI
. _ __ _ _ ._
_.__._... _
'CAMERON ' ! ' DURYEA ! ',
(If Applicable)Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name MI
CAMERON 'PATRICIA ' B '
Spouse's Social 3ecurity Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
�44-24-6699 REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
� 1.O�ginal Return O 2.Supplemental Return O 3. Remainder Return(Date of Death
Prior to 12-13-82)
m 4.Limited Estate m 4a.Future Interest Compromise(date of O 5. Federal Estate Tax Return Required
death after 12-12-82)
�7 6.Decedent Died Testate O 7. Decedent Maintained a Living Trust � 8. Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust.)
O 9.Litigation Proceeds Received O 10.Spousal Poverty Credit(Date of Death O 11. Election to Tax under Sec.9113(A)
Between 12-31-91 and 1-1-95) (Attach Schedule O)
CORRESPONDENT- THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED T0:
Name Daytime Telephone Number
_ _ _, _ _ __ ,
JAMES D. CAMERON, ESQ. ,(717)236-3755
..._. ..... ..... ._.. ..._ ..._.. ..... . . _ . . ....... __.. _. . .... .._.. �_. . .... f•,, �
REGISTER OF V;U��SE ONLY-:� 'L�►
�� C�_ �7 -� .
r~i .?
i'r7 j-< � �;„ � .
�7 r= = c t�J
First Line of Address - : ---- � f !�
_
1325 NORTH FRONT STREET r�r;' ": � " ..�`
,--, { _,
:, - _ .
.
; ...,. i ,
Second Line of Address G .- �-.�. _ - �.
. .__.
_ _ ' --�:� ;"`=C'�
-�"-+ t'? �� rr-�
DAT�ILED .G=" �"r��3
City or Post Office State ZIP Code _ , "�-:
HARRISBURG ' PA ' '17102
_ __ _ _ _
CorrespondenYs e-mail address:JdCBSq localnet.com
Under penaRies of perjury,I declare that I have examined this return,including accompanying schedules and statements,and to the best of my knowledge and belief,
it is true,correct and complete.Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge.
SIGNA O PERS RESP IBLE FOR FILING RETURN DATE
J�t �.� 2�I
ADD E
132 North Front Street, Harrisburg, PA 17102
SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE DATE
ADDRESS
PLEASE USE ORIGINAL FORM ONLY
Side 1
� 1505610105 15056101�5 �
J 1505610205
REV-1500 EX(FI)
Decedent's Social Security Number
_ __
�ecedent's Name: DURYEA CAMERON ',
RECAPITULATION
._
1. Reai Estate(Schedule A). ..... .................... .. ................. 1. '; 0.00 ,
2. Stocks and eonds(Schedule B) .. . ........... .............. ......... .. 2. " 1284430.93 ',
3. Closely Held Corporation,Partnership or Sole-Proprietorship(Schedule C) ... .. 3. ; 0.00 ':
4. Mort a es and Notes Receivable Schedule D 4. ''! 0.00 �!
9 9 � )............ .............. .
5. Cash,Bank Deposits and Miscellaneous Personal Property(Schedule E)..... .. 5. ; 402,644.54 '
6. Jointly Owned Property(Schedule F) O Separate Billing Requested ....... 6. ',', 0.00 '
7. Inter-Vivos Transfers&Miscellaneous Non-Probate Properry
(Schedule G) O Separate Billing Requested........ 7. ' 0.00
8. Total Gross Assets(total Lines 1 through 7)............................ . 8. '!, 1687075.47 '
9. Funeral Expenses and Administrative Costs(Schedule H)............. ...... 9. � 96,337.55 ',
10. Debts of Decedent,Mortgage Liabilities and Liens(Schedule I)............... 10. ': 506.82 ;
11. Total Deductions(total Lines 9 and 10)................................. 11. ; 96,844.37 :
� __ ..
.... .. _.r�_ ._.���
12. Net Value of Estate(Line 8 minus Line 11) ...... ........................ 12. ; 1590231.10 I
13. Charitable and Govemmental Bequests/Sec 9113 Trusts for which � � ��° ������ -� -�-°-- �-. _ . _ .
an election to tax has not been made(Schedule J) .................... .... 13. 0.00 '
14. Net Value Subject to Tax(Line 12 minus Line 13) ........................ 14. "��; 1590231.10 ',
TAX CALCULATION-SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate,or
transfers under Sec.9116 542,324.53 €
(a)(1.2)X.0 00 15. 0.00 '
16. Amount of Line 14 taxable � � � ��_� . �� � � ������� "�' "� � -� ��-� -- -�� -.-.. . _., ._ �_.._.
at lineal rate X.0 45 777,906.57 16, 35,005.80 '
___..� .._ _�.... . e.. .._. �. . __ _._._�i �_ . ._� _, m___e_� ._.,. �m�_�.�_ .,;
17. Amount of Line 14 taxable
at sibling rate X.12 17. '; 0.00 '
�..�.... _. .�� . _. . . ._ ��._ � __.. M ��_. __. ..._�__.. _. _ _._��
18. Amount of Line 14 taxable `
at collateral rate X.15 �g, 0.00 '.
19. TAx DUE ................... .............. ........................ 19.' 35,005.80 '
_ __ _ _:
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT �
Side 2
� 1505610205 1505610205 J
REV-1500 EX(FI) Page 3 File Number
Decedent's Complete Address:
DECEDENT'S NAME
DURYEA CAMERON
STREET ADDRESS
1952 HIGH STREET
CITY ', STATE ', ZIP
CAMP HILL PA ', 17011
Tax Payments and Credits:
1. Tax Due(Page 2,Line 19) (1) 35,005.80
2. Credits/Payments
A.Prior Payments __._____ 50,000_00
B.Discount 2,631.50
Total Credits(A+B) (2) 52,631.50
3. Interest
(3) 0.00
4. If Line 2 is greater than Line 1+Line 3,enter the difference. This is the OVERPAYMENT.
Fill in oval on Page 2,Line 20 to request a refund. (4) 17,625.70
5. If Line 1 +Line 3 is greater than Line 2,enter the difference.This is the TAX DUE. (5)
Make check payable to: REGISTER OF WILLS, AGENT.
�,.� �., � .�i m..��:" ��.� � �!g�iir u�,`�:��_% .�' .���i�T����l(1Mrv��i��`�^s- .,. .Mr u.�a+� ��. "`' �ry��,;y� �. T¢
,��..:��.m, ��_. . .... .. . a�n>. ,_w .'s. s v,. �) �r�i�„'�...W.. .-. ��" �._� ���,a��.__ . '�"'�'��H� . �:�.
PLEASE ANSWER THE FOLLOWING QUESTIONS BY P�ACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred.......................................................................................... ❑ �
b. retain the right to designate who shall use the property transferred or its income ............................................ ❑ �
c. retain a reversionary interest.............................................................................................................................. ❑ �
d. receive the promise for life of either payments,benefits or care?...................................................................... ❑ �
2. If death occurred after Dec.12,1982,did decedent transfer property within one year of death
without receiving adequate consideration?.............................................................................................................. ❑ �
3. Did decedent own an"in trust for"or payable-upon-death bank account or security at his or her death?.............. ❑ �
4. Did decedent own an individual retirement account,annuity or other non-probate property,which
containsa beneficiary designation? ........................................................................................................................ ❑ �
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES,YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
���� ��� �� �_�� � � ���� �; � ; __� � �q���pq � �� ,� �, ��,���� �.�.
.a,,.,....� '� ...,,...,,,;;,.�i�' .a .,«........�: .-4,�.ur9tit?�:tb1',.:i.2 .� t�rNPi��.l r.. ...<-.:. �;na.....�k�fiENk�.���"� �.�� , .___.,:::;:_,. . ,.,:.,�m;., .��`.'.�$i.'
For dates of death on or after July 1,1994,and before Jan.1, 1995,the tax rate imposed on the net value of transfers to or for the use of the surviving spouse
is 3 percent p2 P.S.§9116(a)(1.1)(i)].
For dates of death on or after Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0 percent
[72 P.S.§9116(a)(1.1)(ii)).The statute does not exempt a transfer to a surviving spouse from tax,and the statutory requirements for disclosure of assets and
filing a tax retum are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1,2000:
. The tax rate imposed on the net value of transfers from a deceased child 21 years of age or younger at death to or for the use of a natural parent, an
adoptive parent or a stepparent of the child is 0 percent[72 P.S.§9116(a)(1.2)].
• The tax rate imposed on the net value of transfers to or for the use of the decedenYs lineal beneficiaries is 4.5 percent,except as noted in[72 P.S.§9116(a)(1)].
. The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12 percent[72 P.S.§9116(a)(1.3)].A sibling is defined,
under Section 9102,as an individual who has at least one parent in common with the decedent,whether by blood or adoption.
REV-i5o3 EX+(8-i2)
� pennsylvania SCNEDULE B
DEPARTMENT OF REVENUE
INHERITANCE TAX RETURN STOCKS & BONDS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Duryea Cameron, deceased 21-13-1111
All property jointly owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION Of DEATH
1' Vanguard account number 88011453008(please see attached) 692,761.74
2. PNC Bank account number 6986001-005-27-27(please see attached) 591,669.19
TOTAL(Also enter on Line 2, Recapitulation) $ 1,284,430.93
If more space is needed,insert additional sheets of the same size
REV-i5o8 EX+(08-i2)
� pennsylvania SCHEDULE E
DEPARTMENTOFREVENUE CASH, BANK DEPOSITS & MISC.
INHERITANCE TAX RETURN PERSONAL PROPERTY
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
Duryea Cameron, deceased 21-13-1111
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
�, Centric Bank certificate of deposit number 3055332(please see attached) 100,000.00
2. Accrued interest,Centric Bank certificate of deposit number 3055332 44.79
3. Integnty Bank certificate of deposit number 1037751 (please see attached) 100,068.15
4. Mid Penn Bank certificate of deposit number 317000673(please see attached) 101,676.18
5, Sovereign Bank certificate of deposit number 2335550279(please see attached) 100,024.33
g, Accrued interest,Sovereign Bank certificate of deposit number 2335550279(please see attached) 162.38
7, Highmark Blue Shield(refund of uneamed premium--prescription drug coverage) 40.93
g, Highmark Blue Shield(refund of unearned premium--supplemental health insurance) 603.46 ;
g. Verizon Wireless(refund of overpayment on account) 24.32
TOTAL(Also enter on Line 5, Recapitulation) $ 402,644.54
If more space is needed,use additional sheets of paper of the same size.
REV-1511 EX+ (08-13)
� pennsylvania SCHEDULE H
DEPARTMENTOFREVENUE FUNERAL EXPENSES AND
1NHERITANCETAXRETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Duryea Cameron, deceased 21-13-1111
Decedent's debts must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1' Musselman Funeral Home and Cremation Services 2,596.00
2. Funeral luncheon at St.Stephen's Episcopal Cathedral 1,637.80
3. Family dinner at Rock Bass Grill 1,025.43 '
a. Hotel accomodations for out-of-town family members 657.83
5. John Levenda(constable stand-by service at residence during funeral and dinner) 150.00
s. Jeff Conaway(bagpiper for inumment) 150.00
�. Honorariums for clergy,organist,and other service participants 1,385.00
B. ADMINISTRATIVE COSTS:
1. Personal Representative Commissions: 33,741.51
Name(s)of Personal Representative(s) .1af1'12S D. C81T121'On
Street Address 1327 North Front Street
Ciry Harrisburg state PA Zip 17102
Year(s)Commission Paid: 2014 (antiCipated)
50,612.26
2. Attorney Fees:
3. Family Exemption: (If decedenYs address is not the same as claimanYs,attach explanation,) 3,500.00
Claimant Patricia B. Cameron
Street Address 1952 Hiqh Street
City Camp Hill State PA ZIp 17011
Relationship of Claimant to Decedent SpouSe
4, Probate Feer. 733.50
5, Accountant Fees:
6. Tax Return Preparer Fees
�• Cumberland Law Journal(legal advertising) 75.00
s. The Paxton Herald(legal advertising) 48.00 '
s. Register of Wills of Dauphin County(certified copy of marriage certificate) 10.00
�a FedEx(delivery charges) 15.22
TOTAL(Also enter on Line 9, Recapitulation) $; 96,337.55
If more space is needed,use additional sheets of paper of the same size.
REV-1512 EX+(12-12) '
� pennsylvania SCHEDULE I
DEPARTMENTOFREVENUE DEBTS OF DECEDENT,
INHERTTANCETAXREfURN MORTGAGE LIABILITIES & LIENS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Duryea Cameron, deceased 21-13-1111
Report debts incurred by the decedent prior to death that remained unpaid at the date of death,including unreimbursed medical expenses.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1• Senior Helpers of Harrisburg(final bill) 399.83
2. Ascension Point(Macy's account) 106.99
TOTAL(Also enter on Line 10, Recapitulation) $ 506.82
If more space is needed,insert additional sheets of the same size.
REV-1513 EX+(01-10)
� pennsylvania SCHEDULE �
� DEPARTMENT OF REVENUE
INHERITANCE TAX REfURN BENEFICIARIES
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
Duryea Cameron, deceased 21-13-1111
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S)RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS[Include outright spousal distributions and transfers under
Sec.9116(a)(1.2).j
1. Please see attached.
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18 OF REV-1500 COVER SHEET,AS APPROPRIATE.
II NON-TAXABLE DISTRIBUTIONS
A, SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN;
1.
B, CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS:
L
TOTAL OF PART II—ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. $
If more space is needed,use additional sheets of paper of the same size.
Estate of Duryea Cameron,deceased
No. 21-13-1111
SCHEDULE J(continued)
Name and Address Relationship Share of Estate
Patricia B. Cameron spouse lifetime beneficiary of
1952 High Street Trust Under Will and
Camp Hill,PA 17011 residual beneficiary under Will
Anne D. Cameron child $50,000.00 and
11514 Knox possible remainderman of
Overland Park, KS 66210-2908 Trust Under Will
Alexander D. Cameron child $50,000.00 and
1451 Pheasant Hill Road possible remainderman of
Dauphin, PA 17018 Trust Under Will
James D. Cameron child $50,000.00 and
1327 North Front Street possible remainderman of
Harrisburg, PA 17102 Trust Under Will
William D. Cameron child $50,000.00 and
1944 High Street possible remainderman of
Camp Hill, PA 17011 Trust Under Will
Matthew B. Mullender grandchild $10,000.00 and
11514 Knox possible remainderman of
Overland Park, KS 66210-2908 Trust Under Will
Claire C. Mullender grandchild $10,000.00 and
214 East Grant Avenue, Apt. B. possible remainderman of
Greensburg, KS 67054 Trust Under Will
Alexander D. Cameron, Jr. grandchild $10,000.00 and
95 North 64th Street possible remainderman of
Harrisburg, PA 17111-4322 Trust Under Will
Hunter D. Cameron grandchild $10,000.00 and
6985 New Oxford Road, Unit E possible remainderman of
Harrisburg, PA 17112 Trust Under Will
William W.D. Cameron grandchild $10,000.00 and
580 American Avenue, Apt. B-203 possible remainderman of
King of Prussia, PA 19406 Trust Under Will
SCHEDULE J(continued)
Name and Address Relationship Share of Estate
Mary E.D. Cameron grandchild $10,000.00 and
5045 Flamingo Road possible remainderman of
Memphis, TN 38117 Trust Under Will
Andrew G.D. Cameron grandchild $10,000.00 and
1944 High Street possible remainderman of
Camp Hill, PA 17011 Trust Under Will
REV-1514 EX+(4-09) SCNEDULE K
� pennsylvania
DEPARTMENTOFREVENUE LIFE ESTATE,ANNUITY
BureauofIndividualTaxes &TERM CERTAIN
PO Box28o6o1
Harrisburg PA 1yu8-o6oi (CHECK BOX 4 ON REV-15o0 COVER SHEE�
ESTATE OF FILE NUMBER
Duryea Cameron, deceased 21-13-1111
This schedule should be used for ali single-life,joint or successive life estate and term-certain calculations. For dates of death prior to 5-1-89,
actuarial factors for single-life calculations can be obtained from the Department of Revenue.
Actuarial factors can be found in IRS Publication 1457,Actuarial Values,Alpha Volume for dates of death from 5-1-89 to 4-30-99,
and in Aleph Volume for dates of death from 5-1-99 and thereafter.
Indicate below the type of instrument that created the future interest and attach a copy of it to the tax return.
p Will ❑ intervivos Deed of Trust ❑ Otlier
, ,
„�.r.....:,. , ,. - N�A1I�EST AGE.11"�` � TFF�M���=�f�M►� � .
<< �� �: NAME�OF�LIFETENANT ' �DA7E�0�BIkTR �
� ° ���. � DATE C1F DEATH : [IFE���51'1�fE IS PAI�ABL�- �` ���
Patricia B. Cameron 06/27/1925 88 � ufe or ❑Term of Years
❑ Life or ❑Term of Years
❑ Life or ❑Term of Years
❑ Life or p Term of Years
❑Life or ❑Term of Years
1. Value of fund from which life estate is payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .$ 1,320,231.10
2. Actuarial factor per appropriate table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . 0.11078
Interest table rate- ❑3.5% ❑6% ❑ 10% �Variable Rate 2•4%
3. Value of life estate(Line 1 multiplied by Line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 146.255.20
, � •
. ..
� � � x'������IAM�O�LT��.ANN�t1TTAN'� DATE OF BIRTH� �NEARE�'i`-AG�A'� � � ?ERM��F X�tt'�`"� �
'' QAT�OF DEATH' ' ANNIIITY IS PAYABLE
❑ Life or ❑Term of Years
❑ Life or ❑Term of Years
❑ Life or ❑Term of Years
❑ Life or ❑Term of Years
1. Value of fund from which annuity is payable . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .$
2. Check appropriate block below and enter corresponding number . . . . . . . . . . . . . . . . .
Frequency of payout-❑ Weekly(52) ❑ Bi-weekly(26) ❑ Monthly(12)
❑ Quarterly(4) ❑ Semi-annually(2) ❑ Annually(1) ❑Other( )
3. Amount of payout per period .. .. ........... . .. .... ..... .... . ...... . .... .. .. ... . . . . ..$
4. Aggregate annuai payment, Line 2 multiplied by Line 3 .. .... . ...... ..... .... .. . .. ........
5. Annuity Factor(see instructions)
Interest table rate-�3.5% ❑6% ❑ 10% ❑Variable Rate %
6. Adjustment Factor(See instructions.) . .. .. ... .... .... . .... .... . ...... ..... .. .. ..... . . .
7. Value of annuity-If using 3.5,6,or 10%,or if variable rate and period
payout is at end of period,calculation is Line 4 x Line 5 x Line 6 . . . . . .. . . . . . . . . . . . . . . . . . . . .$
If using variable rate and period payout is at beginning of period, calculation is
(Line 4 x Line 5 x Line 6) +Line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
NOTE:The values of the funds that create the above future interests must be reported as part of the estate assets on Schedules A through G of the
tax return.The resulting life or annuity interest should be reported at the appropriate tax rate on Lines 13 and 15 through 18 of the return.
If more space is needed,use additional sheets of the same size.
REV-1647 EX+(02-10)
� pennsylvania SCHEDULE M
,... DEPARTMENT OF REVENUE FUTURE INTEREST COMPROMISE
INHERITANCE TAX RETURN
RESIDENT DECEDENT (Check Box 4a on REV-1500�
ESTATE OF FILE NUMBER
Duryea Cameron,deceased 21-13-1111
This schedule is appropriate only for estates of decedents who died after Dec. 12, 1982.
This schedule is to be used for all future interests where the rate of tax that will be applicable when the future interest vests in
possession and enjoyment cannot be established with certainty.
Indicate below the type of instrument that created the future interest and attach a copy to the tax return.
� Will ❑ Trust ❑ Other
I. Beneficiaries
NAME OF BENEFICIARY RELATIONSHIP DATE OF BIRTH AGE TO
NEAREST BIRTHDAY
1, Patricia B.Cameron spousellifetime beneficiary 06/27/1925 89
Z, unknown issue who survive spouse various
3.
4.
5.
II. For decedents who died on or after July 1, 1994, if a surviving spouse exercised or intends to exercise a right of withdrawal within
nine months of the decedent's death, check the appropriate box below and attach a copy of the document in which the surviving spouse
exercises such withdrawal right.
❑ Unlimited right of withdrawal ❑ Limited right of withdrawal
III. Explanation of Compromise Offer:
Please see attached.
IV. Summary of Compromise Offer:
1. Amount of future interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,320,231.10
2. Value of Line 1 exempt from tax as amount passing to charities, etc. 0.00
(Also include as part of total shown on Line 13 of REV-1500.) . . . . . . . . $
3. Value of Line 1 passing to spouse at appropriate tax rate 542,324.53
Check one. � 6%, ❑ 3%, � 0% . . . . . . . . . . . . . . . . . . . . $
(Also include as part of total shown on Line 15 of REV-1500.)
4. Value of Line 1 taxable at lineal rate 777,g06.57
Check one. ❑ 6%, � 4.5% . . . . . . . . . . . . . . . . . . . . . . . . . . $
(Also include as part of total shown on Line 16 of REV-1500.)
5. Value of Line 1 taxable at sibling rate(12%) 0.00
(Also include as part of tota�shown on Line 17 of REV-1500.) . . . . . . . . $
6. Value of Line 1 taxable at collateral rate(15%) 0.00
(Also include as part of total shown on Line 18 of REV-1500.) . . . . . . . . $
7. Total value of future interest(sum of Lines 2 thru 6 must e ual Line 1 1,320,231.10
Q ) . . . . . . . . . . . . . . . . . . . . . . $
If more space is needed, use additional sheets of paper of the same size.
Estate of Duryea Cameron, deceased
No.21-13-1111
SCHEDULE M(continued)
III. Explanation of Compromise Offer
The net value of estate(line 12)of the Tax Computation on the cover page of the Return is
$1,590,231.10. The total of the specific bequests provided for in Item II of the Will(all of which have
been paid) is $270,000.00. The difference between these two sums, $1,320,231.10, should be assumed to
be the starting value of the trust.
As calculated in Schedule K,the actuarial value of the life estate is$146,255.20,making the
actuarial value of the remainder equal $1,173,975.90. According to the Single Life Table contained in
IRS Reg §1.401(a)(9)-9,the life expectancy of the surviving spouse is 6.3 years.
Distributions from this trust during the lifetime of the surviving spouse are provided for under
Item III of the Will. Item III provides that the trustee shall pay to or apply for the benefit of the surviving
spouse the net income from the trust. Further, it provides that the trustee"shall,from time to time,pay to
[decedent's wife],or shall apply directly for her benefit, as much of the principal of this credit shelter
trust as Trustee shall consider desirable for her health,maintenance, and support,after considering all
resources available to her." For present purposes, it is assumed that distributions of principal will not be
made during the surviving spouse's relatively short life expectancy.
However, it is observed that the surviving spouse has the unfettered right under paragraph E.2. of
Item III to withdraw five percent of the principal value of the trust each year. It is further observed that
the funds being transferred to the trust had been among those providing for the health and maintenance
needs of the surviving spouse. Given today's virtually zero interest rates and uncertainties about the
possible over-valuations of the securities markets, as well as the relatively short life expectancy
previously noted, it is likely that the value of the trust wll remain much the same during its existence.
Consequently, it is respectfully suggested that the actuarially-determined value of the life estate
should be increased by the surviving spouse's unfettered right to withdraw five percent of the principal
per year,each year,for the length of her life expectancy. This sum is calculated as the anticipated starting
value ofthe trust, $1,320,231.10,times five percent(.OS)times the life expectancy(6 years). The result,
$396,069.33, should be added to the actuarial life estate value of$146,255.20(and conversely, subtracted
from the actuarial remainder value of$1,173,975.90).
By this procedure, it is suggested that the compromise value of the life estate is $542,324.53, and
that the compromise value of the remainder interest is$777,906.57.
Item III of the Will also provides"At any time,Trustee may make distributions from the principal
of the credit shelter trust for the benefit of my issue, for the aforesaid reasons or for educational purposes,
including college, graduate level,or professional education,after considering all resources available to
them." No distributions to issue for health or support are anticipated. Furthermare, given that the
youngest living member of the present class comprising the decedent's issue recently graduated from
college, and non are presently enrolled in graduate school,no alteration of the amounts just calculated is
proposed as a consequence of this provision of the Will.
For the foregoing reasons, it is proposed that the value of the life estate be established as being
$542,324.53, and that the value of the remainder be established as being$777,906.57.
LAST WILL AND TESTAMENT
OF
DURYEA CAMERON
I, DURYEA CAMERON, presently residing and domiciled in the Borough of
Camp Hill, Cumberland County, Pennsylvania, hereby declare this to be my Last Will
and Testament, and I hereby revoke any and all prior wills and codicils previously made
by me.
ITEM I: Tangible Personal Property
A. All my personal effects, clothing, furniture, furnishings,jewelry, automobiles,
other tangible personal property of every kind, and insurance thereon, I give to my wife,
PATRICIA B. CAMERON, if she survives me.
B. If my wife, Patricia, shall not survive me, then I give the same in accordance
with a Memorandum which accompanies this my Last Will and Testament.
C. If any such Memorandum fails to dispose of my personal property, or if no
such Mernorandum exists at the time of my death, then I give my tangible personal
property to r�y then-living issue,per stirpes, to be divided among them as they may
agree, or, if they are unable to agree, as my Executor, in his sole and absolute discretion,
inay decide.
D. Notwithstanding any statutory provision to the contrary, I specifically intend
that each beneficiary under this Item I shall be responsible for any packing, shipping, or
other moving costs incurred with regard to any item of tangible personal property which
he or she receives.
ITEM II: Specific Bequests
If my wife, Patricia B. Cameron;survives me for a period of thirty(30) days,then
I make the following specific bequests:
A. I hereby give and bequeath the sum of Fifty Thousand Dollars ($50,000.00)to
my daughter, ANNE D. CAMERON, if she survives me for a period of thirty (30) days.
If my daught�r, Anne, shall not so survive me, then I direct that this gift shall lapse and
shail be added to the residue of my estate.
B. I hereby give and bequeath the sum of Fifty Thousand Dollars ($50,000.00)to
my son, ALEXANDER D. CAMERON, if he survives me for a period of thirty(30)
days. If my son, Alexander, shall not so survive me, then I direct that this gift shall lapse
and sha11 be added to the residue of my estate.
C. I hereby give and bequeath the sum of Fifty Thousand Dollars ($50,000.00)to
my son, JAMES D. CAMERON, if he survives me for a period of thirty(30) days. If my
son, James, shall not so survive me, then I direct that this gift shall lapse and shall be
added to the residue of my estate.
D. I hereby give and bequeath the sum of Fifty Thousand Dollars ($50,000.00)to
my son, WILLIAM D. CAMERON, if he survives me for a period of thirty (30) days. If
my son, William, shall not so survive me, then I direct that this gift shall lapse and shall
be added to the residue of my estate.
E. I liereby give and bequeath the sum of Ten Thousand Dollars ($10,000.00)to
my grandson, MATTHEW B. MULLENDER, if he survives me for a period of thirty
(30) days. If my grandson, Matthew, shall not so survive me,then I direct that this gift
shall lapse and shall be added to the residue of my estate.
F. I hereby give and bequeath the sum of Ten Thousand Dollars ($10,000.00)to
my granddaughter, CLAIRE C. MULLENDER, if she survives me for a period of thirty
(30) days. If my granddaughter, Claire, shall not so survive me, then I direct that this gift
sha111apse and sha11 be added to the residue of my estate.
G. I}�ereby give and bequeath the sum of Ten Thousand Dollars ($10,000.00)to
my grandson, ALEXANDER D. CAMERON, JR., if he survives me for a period of thirty
(30) days. If my grandson, Alexander, shall not so survive me, then I direct that this gift
shall lapse and shall be added to the residue of my estate.
H. I hereby give and bequeath the sum of Ten Thousand Dollars ($10,000.Op)to
my grandson, HLTNTER D. CAMERON, if he survives me for a period of thirty(30)
days. If my graridson, Hunter, shall not so survive me,then I direct that this gift sf�all
lapse and shall be added to the residue of my estate.
I. I hereby give and bequeath the sum of Ten Thousand Dollars ($10,000.00)to
my grandson�, WILLIAM W.D. CAMERON, if he survives me for a period of thirty(30)
days. If my grandson, William, shall not so survive me, then I direct that this gift shall
lapse and sha11 be added to the residue of my estate.
J. I hereby give and bequeath the sum of Ten Thousand Dollars ($10,000.00)to
my granddaughter, MARY E.D. CAMERON, if she survives me for a period of thirty
(30) days. If my granddaughter, Mary, shall not so survive me, then I direct that this gift
shall lapse and shall be added to the residue of my estate.
2
K. I hereby give and bequeath the sum of Ten Thousand Dollars ($10,000.00)to
my grandson, ANDREW G.D. CAMERON, if he survives me for a period of thirty(30)
days. If my grandson, Andrew, shall not so survive me, then I direct that this gift sha11
lapse and shall be added to the residue of my estate.
ITEM III: Credit Shelter Trust For Wife
A. If my wife, Patricia B. Cameron, survives me, then I give to my son, JAMES
D. CAMERON, as Trustee, in addition to all assets received directly by Trustee that are
excludable from my gross taxable estate for federal estate tax purposes, assets of a total
value equal to the largest amount, if any,that can pass free of federal estate tax by reason
of the exemption equivalent and any other credits available for federal estate purposes
except:
1. The state death tax deduction under section 2058,to the extent that the use
thereof would require an increase in the amount of state death taxes paid; and
2. The credit for t� on prior transfers, to the extent that this credit arises from
transfers to me from individuals who die after me.
B. Such latter amount sha11 be reduced by the value for federal estate tax
purposes of any gifts which do not qualify for the marital or charitable deduction made
by me under this Will or otherwise, and further reduced by an amount equal to the sum of
all charges to principal, except death taxes, that are not deducted in computing my federal
estate tax.
C. Trustee shall hold these assets, in trust. This trust shall be referred to
hereinafter as the "credit shelter trust".
D. I recognize that, depending upon the amount of other bequests,the amount of
my non-testamentary dispositions, the amount of state death taxes, and other factors,this
trust may be non-existent, or may consume all estate assets, so that no assets remain to
pass outrighf,pursuant to the residuary gift.
E. The assets of the credit shelter trust shall be held and distributed upon the
following terms:
1. During the lifetime of my wife, Patricia B. Cameron, Trustee shall pay and
distribute to her, or for her benefit, the entire net income therefrom, which payments shall
be made to her periodically, but not less frequently than quarterly.
In addition, Trustee shall from time to time pay to my wife, or shall apply directly
for her benefit, as much of the principal of this credit shelter trust as Trustee may
3
consider desirable for her health, maintenance, and support, after considering all
resources available to her.
At any time, Trustee may make distributions from the principal of the credit
shelter trust for the benefit of my issue, for the aforesaid reasons or for educational
purposes, including college, graduate level, or professional education, after considering
all resourees available to them.
2. M3�wife shall have the right to withdraw annually the greater of$5,000.00 or
five percent(5%) of the principal of this credit shelter trust valued at the end of the
calendar year in which the withdrawal is made. The right of withdrawal shall be
exereised only in writing and delivered to Trustee in the lifetime of my wife,and the right
of withdrawal shall be non-cumulative.
3. Upon the death of my wife, Patricia, or at my death if she predeceases me,
Trustee shall distribute the then-remaining principal of this trust, together with any and
all accumulafed income thereon, as follows:
a. Twenty-five percent(25%)to my daughter, ANNE D. CAMERON,per
stirpes;
b. Twenty-five percent(25%) to my son, ALEXANDER D. CAMERON,per
stirpes;
c. Twenty-five percent (25%)to my son, JAMES D. CAMERON,per stirpes;
and
d. Twenty-five percent(25%)to my son, WILLIAM D. CAMERON,per stirpes.
Should any child of mine predecease me leaving no issue, then, following the
death of my surviving spouse, the share that would have passed to my predeceased child
(or his or her;issue) shall instead pass to and among such person or persons (natural or
otherwise), an�i upon such terms and conditians as my said child, by his or her will
containing a specific reference to this power, may direct and appoint. Such payment and
distribution shall be free and clear of the terms and provisions of this trust, and this power
of appointment may be exercised by such child of mine, alone and in all events, in favor
of his or her estate, or otherwise, as my child, by his or her will, containing a specific
reference to this power, may direct and appoint.
Should any of the foregoing shares fail for want of a beneficiary and the absence
of the exercise of the foregoing general power of appointment, then the said share shall
be divided,per stirpes, among those of my issue who shall have survived my late spouse.
4
ITEIVIIV: Residue
All the rest, residue, and remainder of my estate I give, devise, and bequeath unto
my wife, PATRICIA B. CAMERON, if she survives me for a period of thirty(30) days.
If my wife, Patricia, shall not so survive me, then I give, devise, and bequeath the
rest, residue, and remainder of my estate as follows:
a. Twenty-five percent (25%)to my daughter, ANNE D. CAMERON,per
stirpes;
b. Tvs�enty-five percent(25%)to my son, ALEXANDER D. CAMERON,per
stirpes; �
c. Twenty-five percent (25%)to my son, JAMES D. CAMERON,per stirpes;
and
d. Twenty-five percent (25%) to my son, WILLIAM D. CAMERON,per stirpes.
Should any child of mine predecease me leaving no issue, then, following the
death of my surviving spouse, the share that would have passed to my predeceased child
(or his or her issue) shall instead pass to and among such person or persons (natural or
otherwise), and upon such terms and conditions as my said child, by his or her will
containing a;specific reference to this power, may direct and appoint. Such payment and
distribution shall be free and clear of the terms and provisions of this trust, and this power
of appointment may be exercised by such child of mine, alone and in all events, in favor
of his or her estate, or otherwise, as my child, by his or her will, containing a specific
reference to this power, may direct and appoint.
Should any of the foregoing shares fail for want of a beneficiary and the absence
of th� e�et�cise of the foregoing general power of appointmezit, then the said share shall
be divided,per stirpes, among those of my issue who shall have survived my late spouse.
� ITEM V: If my wife and I sho.uld die under circumstances which render the
order of our deaths uncertain, for the purposes of Item III, above, it shall be presumed
that I survived my wife.
ITEM VI: With the exception of those specific bequests stated in Item II, above,
if any income or principal shall be payable to any person who has not attained the age of
twenty-five (25) years at the time of my death, or who, in the discretion of my Executor,
shall be incapacita.ted for any reason, then I direct that his or her share shall be paid,
5
instead, to JAMES D. CAMERON, as Trustee,to be held in trust, nevertheless, for the
benefit of any such person.
Trustee shall be entitled to apply any such principal and income for the health,
maintenance, support, and education of any such person, without the appointment of a
guardian and without any authority of court.
Trustee may directly apply any such principal and income, or Trustee may pay
income and principal to the parent or other person in charge of any such person, or to a
guardian, or to a custodian under the Pennsylvania Uniform Transfers to Minors Act.
Trustee shall distribute the remaining principal, and any accrued or undistributed
income, to the said beneficiary upon the attainment by him or her of the age of twenty-
five (25) years, or upon the termination of incapacity, outright and free of all trust.
If any such beneficiary dies prior to attaining the age of twenty-five (25) years,
Trustee shall pay his or her share to his or her surviving siblings, or, if no surviving
siblings,to his or her issue,per stirpes, upon the terms and conditions contained herein.
ITEM VII: Any and all trusts created hereunder shall be considered to be
spendthrift trusts. No interest in income or principal of any trust created hereunder shall
be assignable by a beneficiary (voluntary alienation) or available to anyone having a
claim against a beneficiary (involuntary alienation)before actual payment to a
beneficiary.
ITEM VIII: My Executor and my Trustee, including any successor trustees,
shall have the following powers, in addition to those given by law, to be exercised by
them in their'�absolute discretion, which powers shall be applicable to all property held by
them, effective without the order of any court and until the actual distribution of all such
property:
1. To retain any investments at their discretion, including stock of any corporate
fiduciary or of a holding company controlling it;
2. Ta invest and reinvest at their discretion without restriction to so-called"legal
investments" with the specific right to invest in common and preferred stocks, and in
such common trust, diversified, money market, and mutual funds as they may deem
appropriate;
3. To sell, to grant options for the sale of, or to otherwise convert any real or
personal property or interest therein, at public or private sale, for such prices, at such
time, in such manner, and upon such terms as they may think proper, and to execute and
deliver good and sufficient conveyances, assignments, and transfers thereof without
liability of any purchaser to see to the application of the purchase money;
6
4. To borrow money and secure its repayment by mortgage of real or personal
property, pledge of investments, or otherwise, without liability on the part of the lenders
to see to the application thereof;
5. To compromise claims by or against my estate or any trust created thereunder;
6. To make distributions in cash or kind, or partly in each;
7. To register investments in the name of a nominee or to hold the same
unregistered in such form that they will pass by delivery;
8. To join in any recapitalization, merger, reorganization, or voting trust plan
affecting investments; to deposit securities under agreement; to subscribe for stock and
bond privileges; and generally to exercise all rights of security holders;
9. To manage, operate, repair, alter, or improve real estate or other property, and
to lease real estate and other property upon such terms and for such period as my
Executor and/or Trustee shall deem advisable, even for more than five (5) years and
beyond the duration of any trust;
10. To deduct administration expenses upon either the federal estate tax return or
fiduciary income tax return, with or without adjustment between principal and income;
11. To join with my wife and file any income tax or gift tax returns that may be
due on my behalf, and to pay so much of such taxes as my fiduciaries sha11 deem
appropriate, and to consent to any gifts made by my wife as having been made one-half
(1/2)by me;
12. To associate with them in the absence of a corporate fiduciary, an accountant,
custodian, or investment advisor, and other agents, and to compensate them out of
principal or income or both, as my Executor and my Trustee shall determine, such
eompensation to be a reduction to the compensation of my Executor or my Trustee; and
13. To do all other acts and things necessary or appropriate in the management,
administration, and distribution of my estate.
ITEIVI IX: All estate, inheritance, and other death taxes, together with interest
and penalties thereon, with respect to any interest passing under this my Last Will and
Testament, any codicil thereto, or any non-probate asset, shall be paid out of the principal
of my residuary estate without apportionment.
7
ITEM X: I appoint my son, JAMES D. CAMERON, as Executor of this my Last
Will and Testament. I direct that my Executor shall not be required to furnish security in
any jurisdiction.
If my son, James, is unwilling or unable to serve, then I appoint my son,
WILLIAM D. CAMERON, as my Executor,to serve without bond.
ITEM XI: I appoint my son, JAMES D. CAMERON, as Trustee of any trusts
created under Item III or Item VI of this my Last Will and Testament, to serve without
bond.
If my son, James, is unwilling or unable to serve, then I appoint my son,
WILLIAM D. CAMERON, as my Trustee, to serve without bond.
IN WITNESS WHEREOF, I have hereunto my hand and seal, this 24�'day of
October, 2012. �
(SEAL)
UR A CAMERON
WITNESSETH: The foregoing instrument was, on the date stated above, signed,
published, an.d declared by DURYEA CAMERON, the Testator named therein, as and
for his Last Will and Testament, in the presence of us, who at his request, in his presence
and in the presence of one another, have subscribed our names as witnesses thereto.
����� L
Witness Wi ess
�9✓CX ��I/ �"�"' /�� 'VOr� ��� �(11�."
Address � Address
��.�i �� f�°�l
/�it�Vr� r ��10�
Address � Address
8
ACKNOWLEDGEMENT
Commonwealth of Pennsylvania :
. ss.
County of Cumberland •
AND NOW, this 24�' day of October, 2012, I,the Testator whose name is signed
to the attached or foregoing instrument, having been duly qualified according to law, do
hereby acknowledge that I signed the instrument as my Last Will and Testament,that I
signed it willingly and as my free and voluntary act for urposes expressed therein.
A CAMERON
Sworzi to, subscribed, and acknowledged before me by DURYEA CAMERON,
the Testator, known to me,this 24�' day of October, 2012.
/"•
Notary Public
My Commission Expires:
CA MONWEALTH OF PENNSYLVANIA
Notarlal Seal
• Shana R.Geyer,Nobry Publk
qt{y of Harrlsburg,Dauphin County
.My�;Commission Expires]uy 20,2014
Meinber.PennrManla Assodatlon of Notaries
_ _ _ _ _
AFFIDAVIT
Commonwealth of Pennsylvania .
. ss.
County of Cumberland :
AND NOW, this 24�' day of October, 2012, we, JAMES D. CAMERON and
PATRICIA B. CAMERON, 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 the Testator sign and execute the instrument as his Last Will and
Testament; that he signed it willingly and executed it as his free and voluntary act for the
purposes therein expressed; that each of us in the hearing and sight of the Testator signed
the Will as a witness; and that, to the best of our knowledge, the Testator was at that time
at least eight�en (18) years of age, of sound mind, and under no constraint or undue
influence.
i.e
�
Witness
G----
Wi e s
Swor�to and subscribed before me by JAMES D. CAMERON and PATRICIA B.
CAMERON; the witnesses, known to me,this 24�`day af October, 2012.
Notary Public
My Commission Expires:
COhiMQNWEALTN OF PENNSYLVANIA
Notarial Seal
Sj�ana ft.Geyer,Notary Pubilc
Cipy of Harti�urg,Dauphin County
�M;Coanmisslon 6cplres]uly 2�,2014
Member,Pennsvlvan�a Pssodatlon of Notarles
JAMES DURYEA CAMERON
ATTORNEY-AT-LAW
1325 NORTH FRONT STREET
HARRISBURG, PENNSYLVANIA 17IO2
LICENSED IN BOTH PENNSYLVANIA TELEPHONE: (7V) 236-3755
AND MARYLAND FACSIMILE: (717) 236-3655
July 10, 2014
Office of the Register of Wills
CUMBERLAND COUNTY COURTHOUSE
1 Courthouse Square
Carlisle, PA 17013
Re: Estate of Duryea Cameron, deceased
No. 2013-011ll
To Whom It May Concern:
You will find enclosed the original and one copy of an Inventory, and the original and
two copies of a Pennsylvania lnheritance Tax Return, for the above-referenced Estate. Kindly
file the original documents and return the time-stamped copies to me in the envelope provided.
Please contact my office if you have any questions. Thank you.
Sincerely,
��
C. .
Ja es . Cameron
JDC/sg
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