HomeMy WebLinkAbout10-10-14 FABLES\Clients\14874 Kunkle\14874.1.family.settlement.agreementmpd
RECORDED OFFICE OF.
REC#STI-, .i '.'ILLS
2019 00T AUS Wo. 'AULW.-0848 UNKLE
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FAMILY,SEftft�MENT AGREEMENT AND FINAL RELEASE
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THIS AGREEMEI�l ;made this day of Gep-K K,be ,2014,between Kim
E.Rutz,Executrix of the Estate of Paul W. Kunkle("Executrix"), and Arlene M. Group,Benjamin
Rutz,Austin Rutz and Aaron Rutz(in their individual capacities)(collectively referred to hereinafter
as the"Beneficiaries").
WITNESSETH:
WHEREAS, Paul W. Kunkle ("Decedent") died on July 29, 2012; and
WHEREAS,pursuant to the Will of the Decedent dated October 24, 1989, a copy of which
is attached hereto and marked Exhibit"A",Kim E.Rutz was appointed Executrix of the Decedent's
Estate by the Cumberland County Register of Wills by appropriate action of the Register of Wills
on August 9, 2012, and docketed at No. 21-12-0848; and
WHEREAS, the Executrix has truly and appropriately administered the Estate of the
Decedent; and
WHEREAS, the Executrix has filed the appropriate Pennsylvania Inheritance Tax Return
for the Estate and the Return has been audited with a determination being issued by the Pennsylvania
Department of Revenue accepting the Return as filed; and
WHEREAS,the Executrix will timely file the appropriate Pennsylvania and Federal Income
Tax Returns for the Estate; and
WHEREAS, the Executrix has accomplished the payment of all obligations owing on the
Decedent's Estate, except for any final income taxes, personal representative's commission and
attorneys' fees for which funds have been reserved; and
WHEREAS, the Executrix provided the opportunity to all Beneficiaries to examine all
records of the Decedent in the possession of the Executrix and to examine all records of the Estate;
and
WHEREAS, the Executrix has made various partial distributions to the Beneficiaries; and
WHEREAS, the Executrix is prepared to achieve the final distribution of the Decedent's
Estate subject to the reserve as set forth below; and
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WHEREAS, the Will of the Decedent provided that fifty percent (50%) of his Estate be
distributed to the Decedent's sister,Arlene M. Group, and the remaining fifty percent(50%)of his
Estate be distributed to his great nephews, Benjamin Rutz, Austin Rutz and Aaron Rutz; and
WHEREAS,the Decedent's Estate included three (3)parcels of real estate, specifically the
real estate located at 2159 Newville Road, Carlisle, Pennsylvania; 403 Walnut Street, Boiling
Springs, Pennsylvania, and 405 Walnut Street, Boiling Springs, Pennsylvania, (collectively the
"Real Estate"); and
WHEREAS, Arlene M. Group determined that she wanted to waive any interest she had in
the Real Estate and the Real Estate would be distributed solely to Benjamin Rutz, Austin Rutz and
Aaron Rutz, as they may agree,while the remainder of the Decedent's Estate would be distributed
fifty percent (50%) to Arlene M. Group and fifty percent (50%) distributed equally between
Benjamin Rutz, Austin Rutz and Aaron Rutz; and
WHEREAS,the property at 2159 Newville Road,Carlisle,Pennsylvania,was sold with the
proceeds of that sale distributed equally between Benjamin Rutz,Austin Rutz and Aaron Rutz;and
WHEREAS,the property at 403 Walnut Street,Boiling Springs,Pennsylvania,was conveyed
to Aaron Rutz at an agreed upon value of$30,000.00 and, at the same time, Benjamin Rutz and
Austin Rutz each received$30,000.00 from the Estate which,for purposes of distribution of Estate
assets,technically constituted a distribution of$20,000.00 each to Benjamin Rutz,Austin Rutz and
Aaron Rutz; and
WHEREAS, the final parcel of real estate located at 405 Walnut Street, Boiling Springs,
Pennsylvania,will be conveyed to Benjamin Rutz at a stated value of$15,000.00,and arrangements
will be made by Benjamin to pay his brothers, Austin Rutz and Aaron Rutz, $5,000.00 each to
compensate them for their interest in the real estate; and
WHEREAS, $111,380.00 has already been paid to Arlene M. Group as an advanced
distribution; and
WHEREAS, in addition to the mentioned$60,000.00 distributed to Benjamin Rutz,Austin
Rutz and Aaron Rutz, an additional $90,000.00 was previously distributed to them in the nature of
$30,000.00 payments each; and
WHEREAS,there is approximately$83,000.00 remaining in the trust account for the Estate,
of which$10,049.16 is being reserved for payment on attorneys' fees and executrix's commission,
leaving approximately $73,000.00 remaining to distribute at this time; and
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WHEREAS,the parties desire to set forth herein their agreement with respect to distributing
the mentioned $73,000.00; and
WHEREAS,the Executrix and all Beneficiaries desire that the administration of the Estate
of the Decedent be terminated without the expense and delay of a court accounting and the Parties
are willing to enter into this Estate Settlement Agreement in order to expedite the conclusion of the
Estate; and
WHEREAS,the Executrix desires to make a distribution to the Beneficiaries,pay attorneys'
fees owing, retain certain funds in order to finalize any tax returns and any other miscellaneous
obligations that may accrue,with any retained funds to be distributed to the Beneficiaries at a later
date.
NOW,THEREFORE,the parties in consideration oftheir mutual covenants herein expressed
and intending to be legally bound hereby, agree as follows:
1.
The above named Beneficiaries hereby waive the filing of a Formal Accounting and
Schedule of Distribution in the Estate of the Decedent.
2.
The parties acknowledge that they have been provided with an opportunity to examine all
paperwork and accounting of all expenses and revenues from the Estate of the Decedent.
3.
The parties acknowledge that should any liability come due to the Estate of the said
Decedent after the signing of this Agreement, they hereby covenant and agree with the other heirs
and with the aforesaid Executrix that they will contribute pro rata their share of the Estate to satisfy
any and all claims,demands,suits,or causes of action which may be successfully prosecuted against
the said Estate or the aforesaid Executrix after the signing, sealing and delivery of this Estate
Settlement Agreement.
4.
Acknowledging that Arlene M.Group has received$111,380.00 and Benjamin Rutz,Austin
Rutz and Aaron Rutz collectively have received $150,000.00, the sum of $38,620.00 shall be
distributed to Arlene M. Group which would make a 50150 distribution to date. With that
distribution, the sum of$34,380.00 remains, to be distributed 50% to Arlene M. Group and the
remaining 50% to Benjamin Rutz, Austin Rutz and Aaron Rutz. Of the $34,380.00, the sum of
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$17,190.00 shall be distributed to Arlene M. Group and $5,730.00 shall be distributed equally to
Benjamin Rutz,Austin Rutz and Aaron Rutz.
5.
In the event after the payment of attorneys' fees, executrix's commission and any other
claims against the Estate, there are funds remaining from the $10,049.16 that are being held in
escrow,the parties agree that those funds may be distributed,without any further order of court or
written agreement of the parties,with the distribution being fifty percent(50%)to Arlene M. Group
and the remaining fifty percent(50%)distributed equally between Benjamin Rutz,Austin Rutz and
Aaron Rutz.
6.
The parties agree that the 1946 truck and 1988 Ford vehicles which were titled in the
Decedent's name essentially have no value and the parties agree that title may be conveyed to
Benjamin Rutz.
7.
The parties hereby forever release, compromise, settle and discharge any and all claims,
demands,actions or causes of actions, legal or equitable,absolute or contingent which any of them
may have against any other party hereto or against the Estate of Paul W. Kunkle or its Executrix,
Kim E. Rutz, by reason of any matter or thing growing out of or relating to any property or assets
of said Estate, or growing out of or relating to any act of the Executrix in the administration of the
Estate. This Release shall release the Executrix from all liabilities, whether due to her negligence
or otherwise, which they may have by reason of their administration of the Estate. This Release,
however, shall not release the Executrix from any claims relating to fraud or claims relating to any
willful action of the Executrix in failing to disclose or account for assets of the Estate which the
Executrix may have received. Furthermore,this Release shall not be binding until signing of this
Agreement by the Executrix and all named Beneficiaries.
8.
Each party acknowledges that he/she may present this Agreement to their own private
attorney for legal advice if such parties desire such individual legal advice.
9.
The parties agree that this Agreement shall be binding upon themselves, their successors,
assigns and personal representatives.
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IN WITNESS WHEREOF,the parties have hereunto set their hands and seals the day and
year first above written.
WITNESS: ESTATE OF PAUL W.KUNKLE
Q
Kim E.Rutz,Executrix
WITNESS: BENEFICIARIES:
Arlene M. Group
x!a"
Be ' in Rutz
Austin Rutz
Aaron Rutz
Page 5 of 5
IN WITNESS WHEREOF,the parties have hereunto set their hands and seats the day and
year first above written.
WITNESS: ESTATE OF PAUL W.KUNKLE
Kim E.Rutz,Executrix
WITNESS; BENEFICIARIES.
Arlene M.Group
Benjamin Rutz
Austin Rutz
Aaron Rutz
Page 5 of 5
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I
LAST WILL AND TESTAMENT
OF
PAUL W. KUNKLE
I, PAUL W. KUNKLE, a resident of 403 Walnut Street, Boiling
Springs, Cumberland County, Pennsylvania being of sound mind,
memory and understanding, do hereby make, publish and declare this
to be my Last Will and Testament, hereby revoking all Wills and
Codicils heretofore made by me.
ITEM 1: I direct that all my just debts, the expenses of my
last illness and funeral expenses be paid as soon after my decease
as the same can conveniently be done.
ITEM 2: I direct that there shall be paid out of my
residuary estate all estate, inheritance and like taxes together
with any interest or penalty thereon imposed by the government of
the United States, or any state or territory thereof, or by any
foreign government or political subdivision thereof, in respect to
all property required to be included in my gross estate for
estate, inheritance or like tax purposes by any of such govern-
ments, whether the property passes under this Will or otherwise,
excluding, however, any property over which I have a taxable power
of appointment, provided, however, that no residuary beneficiary
shall by reason of this provision be denied the benefit of any
deduction, credit, favorable rate of tax or other benefit which by
law enures to such beneficiary.
Lo
PAUL W. KUNKLE
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Exhibit "A"
LAST WILL AND TESTAMENT
OF
PAUL W. KUNKLE
ITEM 3: I give, devise and bequeath all of the rest,
residue and remainder of my estate, real, personal and mixed, of
whatsoever kind and nature, and wheresoever situate at the time of
..my..,death, unto my mother, NELLIE M. KUNKLE, provided, however,
that. she survives me and is living sixty (60) days after the date
of.. my.death.
ITEM 4: If and in the event that my mother, NELLIE M.
KUNKLE-,,-•';does not survive me and is not living sixty (60) days
after,:....tYie:date of my death, then and in such event, I give, devise
and bequeath all of the rest, residue and remainder of my estate,
real, personal and mixed, of whatsoever kind and nature, and
wheresoever...:s tuate at the time of my death, as follows:
Fifty Percent (50%) unto my sister, ARLENE M. GROUP
Fifty Percent (50%) , divided in equal shares, unto my
'.`nephews, BENJAMIN::GROUP, AARON GROUP and AUSTIN RUTZ.
ITEM 5: I hereby nominate, constitute and appoint my sister,
BENE M. GROUP, Executrix of this my Last Will and Testament,
{Yi:::full power to do :any..and all things necessary for the
cos^p3:ete administration- of-my estate, and direct that no bond or
other ::surety is required of her in this or any other jurisdiction
for-her-.,-performance of this office.
PAUL W. KUNKLE
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LAST WILL AND TESTAMENT
OF
PAUL W. KUNKLE
If and in the event that my sister, ARLENE M. GROUP, does not
survive me and is not living sixty (60) days after the date of my
death, or does not complete her duties as Executrix, then and in
such event, I hereby nominate, constitute and appoint KIM RUTZ,
Executrix of this my Last Will and Testament, with full power to
do any and all things necessary for the complete administration of
my estate, and direct that no bond or other surety is required of
her in this or any other jurisdiction for her performance of this
office.
ITEM 6: If any provision of this Will or of any Codicil
hereto is held to be inoperative, invalid or illegal, it is my
intention that all the remaining provisions thereof shall continue
to be fully operative and effective, so far as is possible and
reasonable.
IN WITNESS WHEREOF, I, PAUL W. KUNKLE, the Testator, have to
this my Last Will and Testament, typewritten on four (4)
consecutively numbered pages, subscribed my name and affixed my
seal this -? rAday of October, 1989.
(SEAL)
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