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HomeMy WebLinkAbout11-21-14 RECORDED OFFICE OF L)CClcTr " r V11L S IN THE MATTER OF THE ESTATE IN THE COURT OF COMMON'PLE'AS OF OF RICHARD E. JORDAN CUMBERLAND COUNTY, �� YLV 1NY� b Generation Skipping Trust ORPHANS' COURT DNh'' I Under ITEM V CLE F,; OF , f/b/o Richard E. Jordan, II NO. 1048 of 2009 n ; ORPHAIl� c.�., , i REPLACEMENT OF CORPORATE CO-TRUSTEE AND APPROVAL OF ADMINISTRATION (A) Richard E. Jordan (the "Decedent") died October 29, 2009 leaving a Will which bequeathed the sum of One Million Dollars ($1,000,000) to a Generation Skipping Trust under ITEM V (the "Trust") for the benefit of Decedent's son, Richard E. Jordan, II. (B) Richard E. Jordan, II, Richard E. Jordan, III and Manufacturers and Traders Trust Company ("M&T") were named as Trustees of the Trust (the "Trustees"). (C) The Trust was funded on or about February 9, 2010. (D) The net income of the Trust is payable to Richard E. Jordan, II ("Richard") for his lifetime, principal of the Trust may be expended for Richard's maintenance, support and health care, and, upon Richard's death, the remainder of the Trust is payable to Richard's issue, per stirpes. (E) Richard has two children, Richard E. Jordan, III and Jami L. Hutton, who are both sui juris and who both have children who are minors. (F) Item XVII authorizes Richard E. Jordan, II and Richard E. Jordan, III, acting jointly, to remove any corporate trustee for any reason without cause and without court approval, provided that the corporate trustee be replaced with another corporate trustee having fiduciary powers. (G) Attached hereto as Exhibit "A" is a Removal and Replacement of Corporate Co-Trustee by which Richard E. Jordan, II and Richard E. Jordan, III remove M&T, 790828.2 and appoint Fulton Bank, N.A., with offices at Third and Locust Streets, Harrisburg, Dauphin County, Pennsylvania, as substitute trustee in its place to serve as co-trustee of the Trust with Richard E. Jordan, II and Richard E. Jordan, III. (H) Attached hereto as Exhibit "B" is the Acceptance of Co-Trustee by which Fulton Bank,N.A. agrees to serve as substitute co-trustee of the Trust. (9) M&T is willing to forgo filing an accounting of the administration of the Trust provided that Richard, Richard E. Jordan, III and Jami L. Hutton, on behalf of themselves and their heirs (the `Beneficiaries") hereinafter approve the administration of the Trust to date, and agree to release and hold harmless the Trustees for matters related to the administration of the Trust. NOW, THEREFORE, the undersigned Beneficiaries, for themselves, their heirs, personal representatives and assigns, do hereby: (1) Represent and warrant that they have read and understand this Agreement and that the facts set forth above are true and correct. (2) Consent to the removal of M&T and to the appointment of Fulton Bank N. A. as substitute Co-Trustee. (3) Further, each of the Beneficiaries approves the administration of the Trust and all decisions made and actions taken or not taken by the Trustees to the date of this Agreement and releases them as Trustees of the Trust from liability, through and including the date of this Agreement without court audit and without the confirmation of a formal court order, and to save the time, publicity and expense of a formal court accounting, hereby certifies that: a. Richard and Richard E. Jordan, III have received and examined regular trust statements and found them to be correct. -2- b. Jami L. Hutton has had the Trust statement made available to her. C. Each Beneficiary hereby acknowledges the statements to be true and correct, and approves the statements as having the same effect included in an account which had been filed, audited and confirmed absolutely by the Orphans' Court Division of the Court of Common Pleas of Cumberland County, Pennsylvania or any other court of competent jurisdiction. d. Each Beneficiary waives any additional accounting for the period up to the date of this Agreement, of either principal or income, and waives the preparation and filing of any account, for such period in connection herewith with the court. e. Each Beneficiary, their heirs, representatives, successors and assigns do hereby release and forever discharge M&T, its employees, successors or assigns and the other Trustees, from any and all actions, suits, claims, accounts and demands which each Beneficiary or their heirs, representatives, successors or assigns may have or might ever have against M&T and the other Trustees, for or by any reason of their administration of the Trust, or any other act, matter or cause arising out of the Trust through the date of this Agreement. (5) Each of the Beneficiaries acknowledges and agrees that, consistent with 20 Pa. C.S.A. § 7770, Fulton Bank,N.A., as successor Co-Trustee, shall not be liable for the acts or omissions of the Trustees prior to its appointment, and shall have no duty to investigate those acts or omissions. (6) Each Beneficiary acknowledges his or her right to consult with his or her own attorney and that the Beneficiary is executing this Agreement of his or her own volition, with full understanding of its terms and effects and agrees that the Trustees have not made any representations to the Beneficiaries concerning the terms of effects of this Agreement. (7) In accordance with 20 Pa. C.S.A. §§ 7723 and 7725, each of the Beneficiaries specifically accepts the virtual representation of such Beneficiary's minor and unborn descendants, as well as all other minor and unborn individuals whose interests in the Trust are -3 - identical or are substantially identical to the Beneficiary's, and further waives his or her right to decline the representation within the 30 days after notice of this virtual representation. (8) This Agreement shall be governed by and construed under the laws of the Commonwealth of Pennsylvania, without regard to Pennsylvania law concerning choice of law. (9) This Agreement shall inure to the benefit of the heirs, next-of-kin, personal representatives, agents, successors and assigns of the Trustees, including M&T and shall be binding upon the respective heirs, next-of-kin, personal representatives, successor and assigns of each of the Beneficiaries. (10) This Agreement may be executed in counterparts, each of which shall be an original and which together shall constitute one and the same instrument. IN WITNESS WHEREOF, intending to be legally bound, the undersigned have executed this Replacement of Corporate Co-Trustee, on the A—day of S70,0 �-- , 2014. //Ww C � SEAL) Witness 'chard E. ordanI Cdr- (SEAL) 4iWtness Richard E. Jordan, I (SEAL) fitness J i L. Hutton -4- COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF 611 I''d � On this, the �_ day of �Tt"���' , 2014, before me, a Notary Public, the undersigned officer, personally appeared RICHARD E. JORDAN, II, 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) ota Public L My I 140MMONW&6LJOFPENNSYLVANIA tNb -AL BARRY M._SYERMER.No*Public (SE Lemoyne Koro;GumWand County Commission.Ezpi'res 0eceritbe�20,2017 COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF elllevd 4rZt.�� : On this, the _ day of e4<5'014, before me, a Notary Public, the undersigned officer, personally appeared RICHARD E. JORDAN, 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. (SEAL) N NW'&LT1jOFPEMSYLVANIA NOTARRfAEL°SEAQ.".�''.`'; YGpA1Dry Public. u^ty" My Commission Expire's hiber 20;20,17 r (SEAL) a_r , _,......� ,. COMMONWEALTH OF PENNSYLVANIA : SS: COUNTY OF On this, the day of �2O , before me, a Notary Public, the undersigned officer, personally appeared JAMI L. HUTTON, 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. EAL) otary ublic MMONWEA TH OF PENNSYLVANIA t MY ° �� oozary Public L emoyne;$oro,Cumberland County g(S E Commission expires December 20,2017 IN THE MATTER OF THE ESTATE IN THE COURT OF COMMON PLEAS OF OF RICHARD E. JORDAN CUMBERLAND COUNTY, PENNSYLVANIA Generation Skipping Trust ORPHANS' COURT DIVISION Under ITEM V f/b/o Richard E. Jordan, II NO. 1048 of 2009 REMOVAL AND REPLACEMENT OF CORPORATE CO-TRUSTEE Pursuant to the authority granted in ITEM XVII of the Will of Richard E. Jordan, the undersigned hereby remove Manufacturers and Traders Trust Company as Co-Trustee of the above-captioned Trust and do hereby appoint Fulton Bank,N.A. as successor Trustee in its stead to serve as Co-Trustee with Richard E. Jordan, II and Richard E. Jordan, 111. IN WITNESS WHEREOF, intending to be legally bound,the undersigned have ( executed this Removal and Replacement of Corporate Co-Trustee, on the _64 day of y , 2014. SEAL) 0 i ess ichard E. Jorda (SEAL) oiness Richard E. Jordan, Trustee 962770.1 COMMONWEALTH OF PENNSYLVANIA COUNTY OF CU M !"1a4 G( SS: On this, the l�� day of , 2014, before me, a Notary Public, the undersigned officer, personally appeared RICHARD E. JORDAN, 11, 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. a—��j1 10-a ( ) Notary Public C9MMGNW fi N §YLVANIA My Commission Expires: NOTARIAL SEAL ANITA L.LENKER,Notary Public Lemoyne Boro,Cumberland County (SEAL) My Commission Expires February 08,2015 COMMONWEALTH OF PENNSYLVANIA J&-1012d SS: COUNTY OF �}'� On this, the 1ST day of , 2014, before me, a Notary Public,the undersigned officer,personally appeared RICHARD E. JORDAN, 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. (SEAL) Notary Public QQbdMONWEALTH O- My Commission Expires: NOTARIAL SEAL ANITA L. LENKER,Notary Public Lemoyne Boro,Cumberland County (SEAL) My Commission Expires February 08,2015 IN THE MATTF,R OF THE ESTATE IN THE COURT OF COMMON PLEAS OF OF RICHARD E. JORDAN CUMBERLAND COUNTY,PENNSYLVANIA Generation Skipping Trust ORPHANS' COURT DIVISION Under Item V f/b/o Richard E. Jordan,H NO. 1045 of 2009 ACCEPTANCE OF CO-TRUSTEE This r�q_day of 06 �, 2014,FULTON BANK,N.A. with offices at Third and Locust Streets, Harrisburg, Dauphin County, Pennsylvania, hereby accepts its appointment as successor co-trustee of the above-captioned Trust. Fulton Bank,N.A. retains the right to resign as Co-Trustee of such Trust and Fulton Bank,N.A. acknowledges that Richard E. Jordan, II and Richard E. Jordan, III retain the right to remove and replace Fulton Bank,N.A. as authorized under the Will of Richard E. Jordan, ATTEST: FULTON BANK,N.A. & La Li ,"L.4�, 1 AM Y COMMONWEALTH OF PENNSYLVANIA ) w ) SS: COUNTY Or, l u\w� ,r ) On this, the a�14 day of ©c-7'v b e�- ,2014,before me,the undersigned officer, personally appeared s� �1 L N4r4r'n r Who acknowledged [himself/ erre to be the C �'`� F;dW.4`� �� ``� of FULTON BANK,N.A,,a corporation, and that [helAA as such officer,being authorized to do so, executed the foregoing Agreement of Trust for the purposes therein contained by signing the name of the corporation by [himse lh re se as such officer. IN WITNESS WHEREOF, I hereunto set my hand and official seal. "><n� -A, t) otary Public My Commission Expires: (SEAL) COMMONWEALTH OF PENNSYLVANIA Notarial Seal Lori A.Vo,Notary Public City of Lancaster,Lancaster County My Commission Expires May 22,2015 MEMBER PENNSYLVANIA ASSOCIATION OF NOTARIES i