HomeMy WebLinkAbout11-12-14 IN THE MATTER OF THE ESTATE IN THE COURT OF COMMON PLEAS OF
OF HAROLD F. MOWERY, JR., CUMBERLAND COUNTY,
deceased PENNSYLVANIA
ORPHANS' COURT DIVIgON �
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NO. 2014-00269 c ' c"i
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APPROVAL OF ACCOUNT,RECEIPT,RELEASE AND INDEMNYFICATIM o
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WHEREAS, Harold F. Mowery, Jr., a resident of Camp Hill Borough, Curnberl4-ido
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County, Pennsylvania (the "Decedent") died on March 3, 2014, leaving a Will dated October 11,
2012 which was probated in the Office of the Register of Wills of Cumberland County; and
WHEREAS, Decedent's Will appoints his wife, Phyllis S. Mowery as Executrix of
Decedent's Estate(the"Executrix"); and
WHEREAS, Letters Testamentary were duly granted to Phyllis S. Mowery on
March 25,2014; and
WHEREAS, ITEM 1 of Decedent's Will bequeaths all of his tangible personal
property to his wife, Phyllis S. Mowery("Mrs. Mowery"); and
WHEREAS, ITEM 3 of Decedent's Will bequeaths all of his right, title and interest
in PHM Associates (and the real estate owned by PHM Associates)to Mrs. Mowery; and
WHEREAS, ITEM 4 of Decedent's Will bequeaths a fonnula amount to Mrs.
Mowery and Theodore W. Mowery, Co-Trustees (the "Trustees") of the Unified Credit Trust (the
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"Unified Credit Trust") for the benefit of Mrs. Mowery. Such formula bequest constitutes the entire
balance of the Estate; and
WHEREAS, the Unified Credit Trust benefits Mrs. Mowery during her lifetime and
at her passing,the remainder of the Trust is to be distributed to Decedent's issue,per stirpes; and
WHEREAS, Decedent was survived by his wife, Phyllis S. Mowery and his
children, Harold F. Mowery, III, Phyllis D. Vangavree and Theodore W. Mowery, all of whom are
sui j uris; and
WHEREAS, the inheritance and estate tax returns have been filed and the
administration of Decedent's estate is substantially finished with the exception of final funding of
the Unified Credit Trust,paying final expenses, receiving approvals of the inheritance and estate tax
returns and filing final fiduciary income tax returns; and
WHEREAS, the Executrix wishes to distribute the residue of the Estate to the
Trustees of the Unified Credit Trust; and
WHEREAS, attached as Exhibit "A" is a copy of the First and Final Account of
Phyllis S. Mowery,Executrix of the Estate of Harold F. Mowery, Jr.; and
WHEREAS, attached as Exhibit `B" is a proposed Distribution of the Estate of
Harold F. Mowery, Jr.; and
WHEREAS, the undersigned beneficiaries desire to formally approve the
administration of the Estate and the final distribution of the assets of the same which is the purpose
of this instrument.
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NOW, THEREFORE, Phyllis S. Mowery as beneficiary of the Estate of Harold F.
Mowery,Jr., Phyllis S. Mowery and Theodore W. Mowery, Co-Trustees of the Unified Credit Trust
under the Last Will and Testament of Harold F. Mowery, Jr., and Phyllis S. Mowery, Theodore W.
Mowery, Harold F. Mowery, III and Phyllis D. Vangavree as beneficiaries of the Unified Credit
Trust created under the Last Will and Testament of Harold F. Mowery, Jr. for themselves, their
beneficiaries, heirs, personal representatives, and assigns (such group shall hereinafter be referred to
collectively as the"Beneficiaries"):
1. Irrevocably approve the Accounting for Decedent's Estate attached hereto
as Exhibit "A" (the "Account") and approve the administration of the Estate generally through
the date hereof.
2. Hereby waive the filing of the Account in any Court and agree that any
Court having jurisdiction over the Estate may confirm the Account through the date hereof.
3. Acknowledge receipt of the assets shown as distributable to the
undersigned in Exhibit `B" in full and complete satisfaction of the undersigned's rights in and
under the Will and hereby approve all other payments and distributions reported or proposed in
Exhibits "A" and "B."
4. Agree to refund to the Executrix, within ten (10) business days after
receipt of written demand from the Executrix, such part or all of the amount of the said
distribution, and the income from the proceeds therefrom after the date of this distribution, which
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may at any time be determined by the Executrix to have been an erroneous distribution, and agree
that any period for the limitation of any action for collection of any erroneous distribution,
whether or not the same is caused by a mistake that is innocent or negligent, shall commence
only at such time as the Executrix shall have obtained actual knowledge of such erroneous
distribution and that in no event shall the period for collection of any erroneous distribution be
less than two years after the actual discovery thereof.
5. Do hereby absolutely and irrevocably release, remise, quitclaim and
forever discharge the Executrix, her heirs, personal representatives and assigns, of and from all
actions, suits, payments, accounts, reckonings, claims or demands whatsoever for or by reason of
their actions as Executrix of Estate.
6. Do hereby indemnify the Executrix and hold her harmless to the extent of
the value of the assets distributed to them, from and against any and all claims, loss, liability or
damage including legal fees and costs which the Executrix may suffer or to which they may be
subjected by reason of the administration and distribution of the Estate.
7. This instrument shall be governed by the laws of the Commonwealth of
Pennsylvania and shall be legally binding upon the Beneficiaries, their heirs, personal
representatives and assigns.
8. This Agreement may be executed in several counterparts, each of which
shall be an original and all of which shall constitute but one and the same instrument.
4
IN WITNESS WHEREOF, each of the undersigned, intending to be legally bound,
has executed this Agreement as of the day of _, 2014.
WITNESSES:
PhytTiV. Mowery, 6erU6ficiary an o-
Trustee of the Unified Credit Trust under the
Last Will and Testament of Harold F.
Mowery, Jr.
Harold F. Mowery, IIl, beneficiary of the
Unified Credit Trust under the Last Will and
Testament of Harold F. Mowery, Jr.
Phyllis D. Vangavree, beneficiary of the
Unified Credit Trust under the Last Will and
Testament of Harold F. Mowery, Jr.
Theodore W. Mowery, Co-Trustee and
beneficiary of the Unified Credit Trust under
the Last Will and Testament of Harold F.
Mowery, Jr.
5
IN WITNESS WHEREOF, each of the undersigned, intending to be legally bound,
has executed this Agreement as of the day of ' 2014.
' 2014.
WITNESSES:
Phy iC. Mowery, en�ficiary ano-
Trustee of t1hp Unified Credit Trust under the
Last Wil and Testament of Harold F.
Mowe J .
Io F. Mowery, I, benefi i ry of he
ied Credit Trust under the L s ill a d
tament of Harold F. Mowery, Jr.
Phyllis D. Vangavree, beneficiary of the
Unified Credit Trust under the Last Will and
Testament of Harold F. Mowery, Jr.
Theodore W. Mowery, Co-Trustee and
beneficiary of the Unified Credit Trust under
the Last Will and Testament of Harold F.
Mowery, Jr.
5
IN WITNESS WHEREOF, each of the undersigned, intending to be legally bound,
has executed this Agreement as of the day of ' 2014.
WITNESSES: 1
Phyflfio. Mowery, a
Trustee of the Unified Credit Trust under the
Last Will and Testament of Harold F.
Mowery, Jr.
Harold F. Mowery, III, beneficiary of the
Unified Credit Trust under the Last Will and
Testamentof Harold F. owery, Jr.
_ sV
S
Phyllis D. Vang ree, beneficiary of the
Unified Credit Trust under the Last Will and
Testament of Harold F. Mowery, Jr.
Theodore W. Mowery, Co-Trustee and
beneficiary of the Unified Credit Trust under
the Last Will and Testament of Harold F.
Mowery, Jr.
5
IN WITNESS WHEREOF, each of the undersigned, intending to be legally bound,
has executed this Agreement as of the--4 day of ,2014.
WITNESSES:
_.�
Phy i . Mowery, e ciaryta�o-
Trustee
Wfi of the Unified Credit Trust under the
Last Will and Testament of Harold F.
Mowery, Jr.
Harold F. Mowery, 111, beneficiary of the
Unified Credit Trust under the Last Will and
Testament of Harold F. Mowery, Jr.
Phyllis D. Vangavree, beneficiary of the
Unified Credit Trust under the Last Will and
Testament of Harold F. Mowery, Jr.
Theodore . Mowery, Co-Trustee and
beneficiary of the Unified Credit Trust under
the Last Will and Testament of Harold F.
Mowery, Jr.
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COMMONWEALTH OF PENNSYLVANIA
SS:
COUNTY OF p`u
On this, the ! day of P , 2014, before me, a Notary Public, in and for the
Commonwealth of Pennsylvania, •the undersigned officer, personally appeared PHYLLIS S.
MOWERY, known to me (or satisfactorily proven) to be the person whose name is subscribed to
the within Approval and acknowledged that she executed the same for the purposes therein
contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
�"_(SEAL)
Notary ublic
My Commission Expires:
(SEAL)
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
? 4 _ Emily S.Miller,Notary Public
City Of HartlSburg,Dauphin County
My Commission Expires June 22,2015
MEMBER,PENNSYLVANIA ASSOCIATION OF NOTARIES
COMMONWEALTH OF PENNSYLVANIA
f_ SS:
COUNTY OF VY1& Lmd
On this, the- day of kb M4 W(2014, before me, a Notary Public, in and for the
Commonwealth of Pennsylvania, the undersigned officer, personally appeared HAROLD F.
MOWERY, III, known to me (or satisfactorily proven) to be the person whose name is subscribed
to the within Approval and acknowledged that he executed the same for the purposes therein
contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
_ -Hr.
Jana,Seal
Mary C Martz,Notary Public
Monaghan Twp,York County (SEAL)
COMMONWEALTH OF PENf ANIAMy Comm*ssion FXpjWs.h0q 11 1A
Notarial a1 otary Public
Mary C Martz,Notary
Monaghan Twp,York Countir
My Commission Expires:
(SEAL)
COMMONWEALTH OF PENNSYLVANIA
SS:
COUNTY OF
On this, the�day of OCu� 2014, before me, a Notary Public, in and for the
Commonwealth of Pennsylvania, the undersigned officer, personally appeared PHYLLIS D.
VANGAVREE, known to me (or satisfactorily proven) to be the person whose name is subscribed
to the within Approval and acknowledged that she executed the same for the purposes therein
contained.
IN WITNESS WHEREOF, I h:n4to d o
(SEA
My Commission Expi s: NOTARIAL SEAL
AMY LYNNE EWBANK
Notary Public
(SEAL) LEMOYNE BOROUGH,CUMBERLAND COUNTY
My Commission Expires Jun 25,2015
COMMONWEALTH OF PENNSYLVANIA
/ SS:
COUNTY OF
On this, thOay of ���1�- , 2014, before me, a Notary Public, in and for the
—
Commonwealth of Pennsylvania, the undersigned officer, personally appeared THEODORE W.
MOWERY, known to me (or satisfactorily proven) to be the person whose name is subscribed to
the within Approval and acknowledged that he executed the same for the purposes therein
contained.
IN WITNESS WHEREOF,I hereunto set my hand and official seal.
(SEAL)
Notary Public
My Commission Expires: /D, 2,?/jam
(SEAL) ELemoyne
NW A TH F P NN YL ANI
NOTARIAL SEAL
rcine M.Ross.Notary Public
Bora,Cumberland County
mmission Expires Aug, 10,2018
rr VLV ul Aii0C1A roN 0 0 E
EXHIBIT"All
First and Final Account of
Phyllis S. Mowery,
Executrix of the Estate of Harold F. Mowery, Jr.
Estate of Harold F. Mowery, Jr.
Summary of Account
Principal Page
Principal Receipts 2 $ 1,832,144.16
Net Gain on Sales or Other Dispositions 3 0.00
$ 1,832,144.16
Less Disbursements: 4
Administrative Expenses $ 300.00
300.00
Balance Before Distributions $ 1,831,844.16
Less Amounts to Beneficiaries 5 $ 1,785,817.32
Total Distributions $ 1,785,817.32
Principal Balance On Hand 6 $ 46,026.84
For Information:
Investments Made
Unpaid Expenses
Unrealized Gains and Losses
Income
Receipts 7 26,461.14
Net Gain on Sales or Other Dispositions 0.00$ 26,461.14
Less Disbursements:
0.00
Balance Before Distributions $ 26,461.14
Less Amounts to Beneficiaries 8 26,460.81
Total Distributions $ 26,460.81
Income Balance. on Hand 9 $ 0.33
For Information:
Investments Made
Unpaid Expenses
Unrealized Gains and Losses
Combined Balance on Hand 46,027.17
Estate of Harold F Mowery,Jr.
Principal Receipts
Inventory Value
Cash and Cash Equivalents 03/03/2014
Nationwide/Provident Mutual -
demutualized cash received from
claim filed with the Department of
Unclaimed Property (claim
#100750222). $ 8,880.63
Penn Treaty - Final payment of
decedent's long term care policy. 4,160.40
Wage Works -Refund of Nationwide
insurance premium. 545.00
Total Cash and Cash Equivalents 13,586.03
Stocks
Charles Schwab Account $ 1,140,426.84
Interest to Date of Death 2,135.58
Total Stocks 1,142,562.42
Real Property
309 Meadow Trail, Dillsburg,
Monaghan Township, York County,
Pennsylvania; Parcel
#67-38-000-PD-0148-00; more
particularly described in Deed dated
12/17/70 and recorded in York
County Deed Book 631, Page 991.
This property is titled in the name of
Harold F. Mowery, Jr. 210,000-00
50% of PHM Associates 465,995.71
Total Real Property 675,995.71
Total Inventory 1,8322144.16
Total Receipts of Principal $ 1,832,144.16
Page 1
(2)
Estate of Harold F. Mowery,Jr.
Gains and Losses on Sales or Other Dispositions of Principal
Net Gain Net Loss
03/03/2014 Collection
Wage Works - Refund of
Nationwide insurance premium.
Net Proceeds $ 545.00
Inventory Value $ 545.00
04/03/2014 Collection
Penn Treaty - Final payment of
decedent's long term care policy.
Net Proceeds $ 4,160.40
Inventory Value $ 4,160.40
Total Gains and Losses $ 0.00 $ 0.00
No Gain or Loss $ 0.00
Page 1
(3)
Estate of Harold F Mowery,Jr.
Disbursements of Principal
Date Paid Amount Paid
Administration Expenses
Unknown
07/02/2014 $ 300.00
Total Unknown $ 300.00
Total Administration Expenses $ 300.00
Total Disbursements of Principal $ 300.00
Page 1
(4)
Estate of Harold F. Mowery,Jr.
Distributions of Principal to Beneficiaries
Fair Market Value
Phyllis S. Mowery
46/02/2014 $ 465,995.71
50% of PHM Associates
Total To Or For Beneficiary $ 465,995.71
Unified Credit Trust under Item 4 of
the Will
03/03/2014 309 Meadow Trail,Dillsburg, $ 210,000.00
'Monaghan Township, York County,
Pennsylvania; Parcel
#67-38-000-PD-0148-00; more
particularly described in Deed dated
. 12/17/70 and recorded in York
County Deed Book 631, Page 991.
This property is titled in the name of
Harold F. Mowery, Jr.
46/02/2014 Gharies Schwab Account 1,109,821.61
Total To Or For Beneficiary $ 1,319,821.61
Total Distributions of Principal to Beneficiaries $ 1,785,817.32
Total Distributions of Principal $ 1,785,817.32
Page 1
(5)
Estate of Harold F. Mowery,Jr.
Principal Balance On Hand
Inventory Value
09/09/2014
Cash and Cash Equivalents
Nationwide/Provident Mutual -
dernutualized cash received from
claim filed with the Department of
Unclaimed Property (claim
#100750222). 8,880.63
Pass Thru Account 37,146.21
Total Cash and Cash Equivalents $ 46,026.84
Total Balance on Hand $ 46,026.84
Page 1
(6)
Estate of Harold F Mowery,Jr.
Receipts of Income
Income Collected
Charles Schwab Account
06/30/2014 Income $ 28,596.39
Less accrued portion (2,135.58)
S 26,460.81
Pass Thru Account
05/23/2014 Interest $ 0.03
06/23/2014 Interest 0.04
07/23/2014 Interest 0.04
08/23/2014 Interest 0.22
0.33
Total Income Collected $ 26,461.14
Total Income Received $ 26,461.14
Page 1
(7)
Estate of Harold F. Mowery,dr.
Distributions of Income to Beneficiaries
Fair Market Value
Unified Credit Trust under Item 4 of
the Will
06/02/2014 Charles Schwab Account $ 26,460.81
Total To Or For Beneficiary $ 26,460.81
Total Distributions of Income to Beneficiaries $ 26,460.81
Total Distributions of Income $ 26,460.81
Page 1
(8)
Estate of Harold F. Mowery, Jr.
Income Balance On Hand
Inventory Value
09/09/2014
Cash and Cash Equivalents
Pass Thru Account 0.33
Total Cash and Cash Equivalents $ 0.33
Total Balance on Hand $ 0.33
Page 1
(9)
EXHIBIT B
ESTATE OF HAROLD F. MOWERY, JR.
PROPOSED DISTRIBUTION
ASSETS ON HAND:
Nationwide Unclaimed Property $ 8,880.63
Estate Account $ 37,146.54
$ 46,027.17
DISBURSEMENTS:
Out-of-pocket/Administrative Expenses $ 1,500.00
Rhoads & Sinon - atty fee to October 7, 2014 $ 32,500.00
Escrow for final expenses $ 2,500.00
$ 36,500.00
DISTRIBUTION:
Phyllis S. Mowery& Theodore W. Mowery Trustees of the Unified Credit Trust 9•,527.17
$ 9,527.17
963905.1