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Home My WebLink About05-02-08 (3) 1 In Re: ESTATE OF KERMIT L. : IN THE COURT OF COMMON PLEAS SHULTZ, : CUMBERLAND COUNTY, deceased : PENNSYLVANIA : NO. 2008-60 FAMILY SETTLEMENT INDEMNIFICATION AGRI MENTA • fir. aY Filed on behalf of Connie S. Shultz Executrix of the Estate of KERMIT L. SHULTZ, Deceased WHEREAS,KERMIT L. SHULTZ,with his last address at 1 West Penn,Carlisle,PA 17013,died testate on December 20,2007;The Last Will and Testament dated July 21, 1999,was duly admitted to probate on by the Register of Wills of Adams County, Pennsylvania on January 17, 2008,at the above number and term; and WHEREAS, Connie S. Shultz has been duly appointed as Executrix of the Estate of KERMIT L. SHULTZ, Deceased; and WHEREAS, the parties in interest to the Estate of KERMIT L. SHULTZ, are: (1) Frederick L. Shultz, Daughter, beneficiary (2) Debarah M. Thrush, Daughter, beneficiary (3) Jeffrey L. Shultz, Daughter, beneficiary WHEREAS,all known outstanding debts and obligations of the Decedent have been paid in full; WHEREAS,each of the parties to this Agreement has been furnished with a complete list of the estate assets and receipts, attached hereto as Exhibit "A" and disbursements as set forth on the accounting attached hereto as Exhibit "A"; and WHEREAS,it is the desire of the parties to this Agreement,that final distribution of this es- tate be accomplished without a formal accounting to the Orphans' Court Division of the Court of Common Pleas of Adams County,Pennsylvania,or any other court of competent jurisdiction,it be- ing the desire of the parties to avoid the expense of a formal accounting; and WHEREAS,the parties to this Agreement each acknowledge they have received a proposed Summary of Account attached hereto as part of Exhibit "B". WHEREAS,the parties to this Agreement each acknowledge they have received a proposed Schedule of Distribution attached hereto and marked as Exhibit "B"; and WHEREAS, each of the parties to this Agreement does acknowledge their receipt from the Executrix the distribution, if any, as evidenced by Approval of Account and Release, which is at- tached hereto and marked as Exhibit "C". NOW, THEREFORE, WITNESSETH, in consideration of the mutual promises,covenants and agreements recited herein, the parties do agree as follows: 1. Each of the parties to this Agreement does hereby release and forever discharge the Executrix from any and all liability which may from time to time arise in connection with her service as Executrix of the Estate of KERMIT L. SHULTZ, Deceased. The parties do further agree to indemnify and hold harmless the Executrix from any and all liability which may arise against the estate from creditors or other claimants. 2. Each of the parties does hereby acknowledge receipt of the assets,if any,described in the Exhibits attached hereto. 3. Each party to this Agreement acknowledges that this Agreement shall be indexed and recorded in the estate proceedings in this or any other state, and that the terms hereof shall be binding upon their respective heirs, successors, Executors and assigns. 4. This Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. Dated at York Springs, Pennsylvania this / day of , 2008. 7 tITNESS: /rederick L. Shultz Pebarah M. Thrush Z— ffr y ��Iltz ACCOUNTING OF THE ESTATE OF KERMIT L. SHULTZ, DECEASED ASSETS DescrRtion _�— Amount _Wachovia, Checking Account 2,815.28 Security Deposit refund _ __ — 1.33 Comcast Refund 104.57 Em_barq Refund21.57 PPL(Electric Refund) 14.98 Total 23957.73 ACCOUNTING OF THE ESTATE OF KERMIT L. SHULTZ, DECEASED DISBURSEMENTS BY EXECUTRIX .-Description _—__ — Amount_ Dugan Funeral Home _ __ 7,489.70 John C�Z� , 11I 1,500.00 Cumberland County Register of Wills —� (— —73.00 Cumberland County Law Journal _ _� 75.00 The Sentinel — — 166.60 Moyer Glass couch removal) _ __ _ 65.00 Pinker Associates Toe Nail Trim _ 7.36 Check written prior to death clearing after, AARP 59.25 Check written prior to death clearing after, Comcast _— _ 79.47 Check written prior to death clearing after,PPL Electric 14.98 Check written prior to death clearing after, PPL Electric, Final -- 30.27 Total — $9,560.63 Exhibit"A" ACCOUNTING OF THE ESTATE OF KERMIT L. SHULTZ, DECEASED SUMMARY OF ACCOUNT Estate Assets $ 2,957.73 Less Disbursements $ 9,560.63 BALANCE $ -6,602.90 The following assets are hereby proposed for distribution to heirs pursuant to this Agreement: Name Cash Frederick L. Shultz 0.00 Debarah M. Thrush 0.00 Jeffrey L. Shultz 0.00 Exhibit"B" RECEIPT OF DISTRIBUTION, APPROVAL OF ACCOUNT AND RELEASE The undersigned being those interested under the Last Will and Testament of KERMIT L. SHULTZ,Deceased,desire that the Estate be distributed without the formality of a court accounting. The Executrix of the Estate is willing to consent to such distribution upon receipt of a proper release, which is the purpose of this document to provide. In consideration of the willingness of the Execu- trix to make distribution without the formality of a court accounting and agreeing to be legally bound hereby, the undersigned, individually, and on behalf of their respective heirs, personal representa- tives, successors and assigns, do hereby: 1. Waive the filing of an account of the administration of the Estate in any court. 2. Declare that they have examined the attached informal account and proposed state- ment/schedule of distribution of the Executrix of the Estate of KERMIT L. SHULTZ,Deceased;find it to be true and correct in all particulars;accept and approve it with the same force and effect as if it had been prepared and filed with,audited,adjudicated and confirmed absolutely by a court of com- petent jurisdiction; and as if the balance of principal and income had been awarded by the court in accordance with the statement/schedule of distribution. 3. Warrant that the beneficiaries named in the informal accounts and statements/schedules of distribution are entitled to receive the entire distribution thereof in accordance with the informal ac- count and statement/schedule of distribution. 4. Warrant that they know of no outstanding and unsatisfied claims against the Estate.and approve the distribution of the balance of principal and income shown in the informal accounts and statements/schedules of distribution to the persons set forth therein. Exhibit"C" 5. Absolutely and irrevocably release and discharge the Executrix her heirs and personal repre- sentatives of and from any and all actions,liabilities, claims and demands relating in any way to the ad- ministration of the Estate and distribution in accordance with the informal account and state- ment/schedule of distribution and without a court accounting and adjudication. 6. Agree to indemnify and hold harmless the Executrix her heirs and personal representatives from and against any claims, liabilities, loss or expense (including costs and counsel fees)arising from any cause whatsoever,which the Executrix may incur as the result of the administration of the Estate and its distribution in accordance with this document to the extent to which they have received distribution under this agreement,including,but not limited to,any liability for any Federal Estate Tax,Pennsylvania Inheritance Tax or any other death taxes, and any Federal or Pennsylvania Income Taxes and Pennsyl- vania Personal Property Taxes,together with any interest,penalties and costs incidental thereto,relating in any way to the Estate and also including,but not limited to,any assets received or payments or distri- butions made by reason of any negligence or mistake of law or fact. 7. The undersigned hereby acknowledge receipt of those assets as set forth on the proposed statement/schedule of distribution as of the date of the execution of this receipt of distribution,approval of account and release. Date: `( p ITNESS: ` L rederick L. Shultz ��J�aA qmc� ebarah M. Thrush ffr . S tz