Loading...
HomeMy WebLinkAbout08-07-14 (2) IN THE MATTER OF THE ESTATE : IN THE COURT OF COMMON PLEAS OF MARTHA JANE LAMPREY, : OF CUMBERLAND COUNTY, PENNSYLVANIA DECEASED : ORPHANS' COURT DIVISION FILE NO. 21-12-0928 ESTATE SETTLEMENT AGREEMENT THIS AGREEMENT, made this l�4 day of 201q. WITNESSETH: THE CIRCUMSTANCES leading up to the execution of this Agreement are as follows : 1. MARTHA JANE LAMPREY (the "Decedent") , died testate on August 10, 2012, and Eric S. Lamprey was duly qualified with the Register of Wills of Cumberland County, Pennsylvania, as the Executor (the "Executor") of the Decedent' s probate estate (the "Estate") 2 . The Decedent' s Last Will and Testament (the "Will") provides for the distribution of the Decedent' s estate to her son, Eric S. Lamprey. 3 . Eric S. Lamprey is the Decedent' s surviving child, ( the "Beneficiary") . The Beneficiary desire the Executor to settle the Estate informally in order to avoid the expense and delay involved with the formal adjudication of a First and Final Account by the orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania (the "Court") . n O -z= ui OC_ zr a-r-r r "r i 59 -, r� =; ''T7 4 . The Beneficiary desires to forever settle and compromise any and all claims and rights which he may possess, now or hereafter, in the Estate and to confirm his acceptance of the Informal Account (the "Account") , attached hereto as Exhibit "A" and incorporated herein by this reference, and the Schedule of Proposed Distribution (the "Schedule") , attached hereto as Exhibit "B" and incorporated herein by this reference. The Beneficiary desires that the distributions, as set forth on Exhibit "B," be in full satisfaction of his rights in the Estate. 5 . The Beneficiary wishes to release the Executor and to indemnify him against any and all claims that may be asserted against the Estate or the Executor after the date hereof. 6. The Executor is willing to settle the Estate informally in consideration of the indemnifications hereinafter provided by the Beneficiary. NOW THEREFORE, in consideration of the foregoing and intending to be legally bound, jointly and severally, the Beneficiary, for himself, his successors and assigns : 1. Represents and warrants that he has read and understands this Agreement and confirm that the facts set forth above are true and correct, to the best of his knowledge, information and belief. 2 . Declares that he has sufficient information to make an informed waiver of his right to a formal accounting with the Court, and does hereby waive the filing and auditing of the same. 3. Acknowledgea that the distributive share or amount set forth on the Schedule shall be in full satisfaction of his entitlements under the Will. 4 . Releases, remises, quitclaims and forever discharges the Executor, his heirs, personal representatives, successors and assigns, from and against all claims that he, as legatee of the Estate and in connection with the Estate, had, now have or may in the future have in connection with the Estate. 5. Agrees to refund, on demand, all or any part of any aforesaid distribution, which has been determined by the Executor, or by the Court, or by any court of competent jurisdiction, to have been improperly made. 6. Agrees to indemnify and hold harmless the Executor, his heirs, personal representatives, successors and assigns, from and against any and all claims, loss, liability or damage (whether or not related to the negligence of the Executor) that may hereafter be asserted against the Estate or against the Executor. 7 . Agrees to execute such other or additional documents as may be necessary to effectuate the agreements set forth herein. 8 . Acknowledges that this Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. 9. Consents to the Court exercising personal jurisdiction over him in any suit or action arising out of the enforcement of this Agreement . IN WITNESS WHEREOF, the Beneficiary has read and agrees to the terms and conditions set forth in this Estate Settlement Agreement and intending to be legally bound hereby placed his hand and seal. n i WITNEASS ERIC S. LAMPRE COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF CUMBERLAND /. On this, the (DA day of , ItL 2011, before me, the undersigned officer, personally appeared ERIC S. LAMPREY, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same in the capacities and for the purposes therein contained. IN WITNESS WHEREOF, I hereunder set my hand and official seal. , -t. a 'A� No ary P blic C MMON EALTH OF PENNSYLVANI NOTARIAL SEAL Misty D.Lehman,Notary Pubito City of York,York County My Commission Expires May 16,2018 EMBER, PENNSYLVANIA ASSOCIATION OF NOTARIE INFORMAL ACCOUNT ESTATE OF MARTHA JANE LAMPREY ITEM VALUE AT DEATH ASSETS : TIAA-CREF Retirement acct $ 90, 667 . 73 Cash, Bank deposits & financial accounts $ 3, 450 . 86 Personal property $ 4, 650 . 00 Total $ 98, 768 . 59 DEBITS: Funeral & Administration Expenses $ 5, 340 . 50 Debts, mortgages liabilities and liens $ 3, 140 . 21 Inheritance Tax $ 4, 062 . 95 Total $ 12, 543 . 66 Net Value of Estate at time of Death $ 86, 224 . 93 The value of the stocks, bonds, cash and bank deposits has fluctuated during the administration of the estate and a final value will be determined at the time of actual distribution. A