HomeMy WebLinkAbout02-1077
RE;'i.1500EX(E;.OO)
COMMONWEALTH OF
PENNSYLVANIA
DEPARTMENT OF REVENUE
DEPT. 280601
HARRISBURG, PA 17128-0601
REV-1500
INHERITANCE TAX RETURN
RESIDENT DECEDENT
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DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
Corliss William K.
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OFF!Cf/\L USE 01'H... \(
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FILE NUMBER
1~-CJ 2.
CQUNTY CODE YEAR
-L012_
NUMBER
DATE OF DEATH (MM-DD-YEAR)
09/08/2002
DATE OF BIRTH (MM-DD-YEAR)
12/18/1907
SOCIAL SECURITY NUMBER
019 - 01 - 0745
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
SOCIAL SECURITY NUMBER
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~ 1. Original Return
o 4. Limited Estate
Q9 6. Decedent Died Testate (Attoeh copy of Will)
o 9. Litigation Proceeds Received
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NAME
Marlin R. McCaleb, Es uire
FIRM NAME (If Applicabfej
Law Offlces - Marlin R. McCaleb
TELEPHONE NUMBER
717/691-7770
o 3. Remainder Return (date of deolh prior 10 12.13-82j
o 5. Federal Estate Tax Return Required
o 8. Total Number of Safe Deposit Boxes
o 11. Election to tax under Sec. 9113(A) (Attach Sch 0)
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COMPLETE MAILING ADDRESS
219 East Main Street
P.O. Box 230
Mechanicsburg, PA 17055
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1. Real Estate (Schedule A)
2. Stocks and Bonds (Schedule B)
3. Closely Held Corporation, Partnership or Sole-Proprietorship
4. Mortgages & Noles Receivable (Schedule D)
5. Cash, Bank Deposits & MiscellaneollS Personal Property
(Schedule E)
6. Jointly Owned Property (Schedule F)
o Separate Billing Requested
7. Inter-Vivos Transfers & Miscellaneous Non~Probate Property
(Schedule G or L)
8. Total Gross Assets (total Lines 1~7)
(7)
(IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
o 2. Supplemental Return
o 4a. Future Interest Compromise (d/lte ofdeolh/lfter 12.12-S2)
~ 7. Decedent Maintained a Living Trust (Attach copy ofTrusl)
o 10. Spousal Poverty Credit (date ofdeall1 between 12.31-91 and 1-1-95)
(1)
(2)
(3)
(4)
(5)
(6)
None
OFFICIAL USE ONLY
None
None
None
651. 79
590,175.00
1,043.36
x.o_ (15) 0.00
x.O~ (16) 26,087.96
x 12 (17) 0.00
x .15 (18) 0.00
(19) 26,087.96
9. Funeral Expenses & Administrative Costs (Schedule H)
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I)
11. Total Deductions (total Lines 9 & 10)
12. Net Value of Estate (Line 8 minus Line 11)
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been
mad< (Schedule J)
(9)
(10)
14. Net Value Subject to Tax (line 12 minus line 13)
SEE INSTRUCTIONS ON REVERSE SlOE FOR APPLICABLE RATES
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15. Amount of Line 14 taxable at the spousal tax
rate, or transfers under Sec. 9116 (a}(1.2)
16. Amount of Line 14 taxable at lineal rate
579,732.55
17. Amount of Line 14 taxable at sibling rate
18. Amount of Line 14 taxable at collateral rale
19. Tax Due
20.0
CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
-; ';,~",~-, ,il",'.BJ;SURE. ToAN~~R:ACE_.QUES;J:j9NS' aN RElfF~SI;;-~P.g1AND ~ECHECK.MATH ., <'.;,+::<; "', .-:~" ',-:;~- 'A "
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(8)
5,335.60
6,802.00
(11)
(12)
(13)
591,870.15
12,137.60
579,732.55
(14)
579,732.55
Decedent's Complete Address:
Corliss William K.
STREET ADDRESS
100 Mt. Allen Drive
CITY Mechanicsburg I STATE FA I ZIP 17055
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
8. Prior Payments
C. Discount
(1)
26,087.96
0.00
24,783.56
1,304.40
3. InteresVPenalty if applicable
D. Inlerest
E. Penalty
Total Credits (A + 8 + C ) (2)
26, 087.96
TotallnteresVPenalty ( D + E ) (3)
4. If Line 2 is greater Ihan Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 1 Line 20 to request a refund (4)
0.00
A. Enter the interest on the tax dUe.
(5A)
0.00
0.00
0.00
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5)
B. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (58)
Make Check Payable to: REGISTER OF WILLS, AGENT
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PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes
a. retain the use or income of the property transferred;.......................................................................................... IX]
b. retain the rlghl to designate who shall use the property transferred or its income; ............................................ IX]
c. retain a reversionary interest; or................... .....,.. ............ ....................................................................... ............ 0
d. receive the promise for life of either payments, benefits or care? ...................................................................... 0
2. If death occurred after December 12,1982, did decedent transfer property within one year of death
without receiving adequate consideration? .................................,.......,.............. ...................... ................................ 0
3. Did decedent own an "in trust for".or payable upon death bank account or security at his or her death? .............. 0
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? .............................................................. ......................................................... 0 []
IF THE ANSWEBJO-ANY OF THE ABOVE QUESTiONS is YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
Under penalties oj petfury, I declare that I have examined this return, including accompanying scheduies and statements, and to the best of my knowledge and belief, it is true, correct
and complete.
Declaration oj pfeparer other than the personal representative is based on all information of which preparer has any knowledge.
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ADDRESS
Community National Bank, Trustee
DATE/ //
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a
100 Main Street
Newport, VT 05855
Marlin R. McCaleb,
Esquire
DATE
. - 20 .- 0 z..
ADDRESS 219 East Main Street
Mechanicsburg, FA 17055
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For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3%
[72 P.S. 99116 (a) (1.1) (i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net vaiue of transfers to or for the use of the surviving spouse is 0% [72 P.S. 99116 (a) (1.1) (ii)].
The statute does not exemot a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and filing a tax return are stiH applicable even if
the surviving spouse is the oniy beneficiary.
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent,
or a stepparent of the child is 0% [72 P.S. 99116(a)(1.2)].
The tax rate imposed on the net value of transfers to or for the use 01 the decedent's lineal beneficiaries is 4.5%, except as noted in 72 P.S. 99116(1.2) [72 P.S. &9116(a)(1)).
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12% [72 P.S. 99116(a)(1.3)]. A sibiing is defined, under Section 9102, as an
individual who has at least one parent in common with the decedent, whether by blood or adoption.
02/14/00 13:51
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PEOPLES. 7176917772
HO. ! 11 P002/004
Cfll" WIt,) 61.::f1[;(J V11 r ~ t I
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LASr WILL ~ TBSTAMI!Nl'
OF
WILLIAM 1<. CIlRLISS
l<N::M ALL M!!1'l BY TflESI! FllESIIZl't'S that I, WilliMl 1<. CorU.., &1110 known
as W. Kirkland Corliss, of tha '1Qm ot NorWield, O:lw;ty of Wallhingt:on and
state of vermont, be.inq of llOurlC nUn1, 00 hereby 1lIeM, publish, and declue
th1s my L1\ST WILL ~ TESTAMliNl', hareby revok.Ulq all other Wil18 lI.ld
Codicils hsretof~. ~;
AR'1'J:C'P" am
JI.a I1QOI\ after my deoeall8 a8 my O:>-Exea.ltore IIhall deem COllIIIist:ent w:l.th
good manaSell18Ot, I direct that they IIhall pay trcn the rea1due ot my estate,
othe.r:will8 hsrl!l1naft:er d1IBpOEIed of, thl!I expctaes ot my 14st: illll8s8, funeral,
and burial, all debts duly allowlild aga1nat my ..tate, the expenses of
adnWUlltratl.CI1 of my estate, and all estate talru ~ other taxa and dut:.i.N
OClClaSiDnlld by lIlY' death, wllet:har 1.J1t:m:nd with rupect to property pa'l!I1nt;
under this Wlll, or othe1:lol1.se.
AR'1'In".~ 'nIO
I give and ~th all my tang1bJ.. per..xlAl ~ I I1IIlY own at: my
death to my balCM!ld wU:l!I, Beatrice K. Clol:ll.lI, or it IIIUl be not then Uvinq
equally to my tlu;Be children, sylvia C. Kini, l'axjari. CarU.s 0Ilnham, lI.ld
Wlll1am K. COrliss, Jr. or tl18 s\lrV1vor of them.
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PEOPl.ES ~ 7176917772
f~O. 111 POO3/004
All of the rest, ruidue, lilI1d rEll!\l'lmer ot lll:i e.tate ot whal:8Vl!lr
deilcription A!ld lIt\Qrever the eama may be J.cxlat:ecS, I <;ive, devise, am
bequeath unto the Northfield SAvings flank, A Vemont banld.ng QOl:ilOration
with its princi~le otfico 1n Nol:thfieJ4, V&m:lnt, IN 'm\]5'1' llIMlrthele..,
un:ler the terms ot a CJBrt:4l.n trust agJ:~t ~tillq the ''will:l.llll1 1<.
OcrU.. Living ~t" dated February 1S, 1976, and u ~ Febl:\lary 16,
1984 anti rabl:\w:y 15. 1991, to be hlt14, marusgea, an1 ,~Ib~t:ed in
a~ with the te:rn\s of saict 'I'nl3t ~..__lt.
l\R1'ICt.1: 'MllllI!i
In the event that tl1II "\II111um K. 00r11.. Li~ 0rru.t" i. not in
axisl:enos at the time ot my d8llth, then I give, devU&, and bequeath allot
the rest. residue, and remaWer of my estate, ot whatever deec:riptian lilI1d
wherever the same my be located, to my ~ wife, fleatrios R. CerUII..
if she 5UrV1vea me. In the event that my said wite, Beatr10e K. CerU..,
ilhAll have predll'"e'l8lld l1lII, or in the llWIlt that ow lIhOIlld die W"dar
c!rCUlllllWlCQ which do not ~t a l:I!lUOIlable datal:ml.natiCl1. IlIl to which ot
l.Ul ~_M&:i the other, then 1:1 either event, I 9i.ve, ~ev1.,., and ~th
ea.id residua in fIQIlAl lIhare. to my three children, Sylv:l.a Co X1ng l1CVI of
10619 ~ 56th street, Te1lple Terraoe, FL 33617, Hlu:jode OorU.. DuIIham
l1CVI of 277 ~ Road S., Wqtport, cr 068801 W William K. COrliss, Jr.
na</ ot 600 SO\Ith York. street, Mechan1~, PA 17055, their heir. an1
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02/14/00 13:51
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PEOPLES ~ 7176917772
NO, 111 P004/004
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I hereby naII1nate, constitute, and appoint the Nclrlhtield Savirl9. Sank
and Olristopher c. ~ now of 277 0:I'ap0 !laid S., w.atport, or 06880 to
be Co-l'.:l<lIC\lton of thill, my r.ASr w:w:. AND~. In the event thet
Olriato~ t\InhIIn IIhoold decl1n8 Aid trust, or fo:: IUlf nucn lIhwld fail
to quality aa O>Executor, or having' qu&lit1ec!, IIhould resign or ot:hlu:w1..
VllCAta said oftioe, then I naninate !o!arjarie OorUea D.lr\MnI .a al1:erllate
O:5-l!lx8c:utr1x .
IN wnmss ~, I hElroIunto aubIIccibe my ~ thi. 25th day of
March, 1 !l1I1 .
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We, whoM MlIl8. are hereto 1lUbtI<::l:'ibl, 00 =";11">, that on the 25th day of
March, 1 !llIl, William 1<. O:lI:U.., the tutator l1AI1lllCl aI:law, Il'JblCl:'1bed 111.
name to this in8t:N'nent in our presence an:! in the pnaence ot each of US,
am at the _ tUna, in our ~ an:! hearing, declared the _ to 0.
his LAST WILL AND 'lE'3Tl1Mml', and ~ts1 u. lUld u.ch of Ull, to 8i!lfl cur
rwna8 thereto .. witl1.-_ to the execution thenaf, whioll we do 1n the
preS61loe of the tutator and of each other, on the day of the date of II&iI1
Will, and write opFOslte our ll!IlllU OJ%' n1spect.ive p1e- of resld8l108.
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TRUST AGREEMENT CREATING THE
"WILLIAM K. CORLISS LIVING TRUST"
THIS AGREEMENT, executed in duplicate on the date hereinafter set
forth, between William K. Corliss, also known as W. Kirkland Corliss, of the
Town of Nortbfield, County of Washington and State of Vermont, (SETTLOR) and
the First Vermont Bank and Trust Company, a banking institution with an office
in the City of Barre, County of Washington and State of Vermont, (TRUSTEE),
WIT N E SSE T H
1.
TRUST PROPERTY.
For good and valuable consideration, the
Settlor hereby transfers and delivers to the Trustee the property listed in
Schedule A, annexed hereto, to have and to hold the same together with any
cash, securities, or other property which the Trustee may pursuant to any of
the provisions hereof at any time hereafter hold or acquire, all of such
property being hereinafter referred to collectively as the trust estate for
the uses and purposes and upon the terms and conditions herein set forth.
2.
DISPOSITIVE PROVISIONS.
The Trustee shall hold, manage, invest,
and reinvest the trust estate, collect the income thereof, and dispose of the
net income and principal as follows:
(a) During the lifetime of the Settlor, the Trustee shall pay
all of the net income of the trust estate to the Settlor, noLless frequently
than quarterly. If at any time the Settlor should become incompetent or for
any reaSon be unable to act in his own behalf, the Trustee may pay to or apply
for the benefit of the Settlor, in addition to the payments hereinabove
provided for him, such amounts from the principal of the trust estate, up to
the whole thereof, as the Trustee may from time to time deem necessary or
advisable for his use or benefit. The Trustee shall also pay such sums, from
principal or income, as the Settlor may direct, orally or in writing, during
his lifetime.
BERNASCONI AND KOCH
ATTORNEYS AT LAW
P. O. BOX 892
BARRE, VERMONT 05641
(b) Upon the death of the Settlor, the Trustee shall payout
of the assets of the trust, all of the Settlor's just debts then due, the
expenses of his last illness and funeral, and all estate, inheritance,
succession, and transfer taxes or death duties, which may be assessed or
imposed by reason of the Settlor's death, upon his estate or any part thereof,
whether the taxable property shall be held as an asset of this trust or not,
or whether the same shall pass under the Settlor's Will, or otherwise; and such
payment shall be made without apportionment or contribution by any beneficiary
of the Settlor's estate, meaning hereby that this trust shall bear the full
burden of taxes assessed against the Settlor's estate.
(c) After the payments called for in subparagraph (b) above
have been made, the Trus tee shall re tain all of the as.se ts of this Trus t in
trust and shall pay all of the net income from the Trust to the Settlor's wife
Beatrice K. Corliss, if she survives him, for and during the remainder of her
life. The Trustee shall also have full power, in its absolute discretion, to
invade the principal of the Trust for the benefit of the Settlor's wife,
Beatrice K. Corliss, in order to provide for her proper care, maintenance, and
support, and in this regard, the Trustee is instructed that it is the intention
of the Settlor that the Trustee shall be liberal and generous in the exercise
of its discretion to invade principal for this purpose.
(d) After the death of the Settlor's wife Beatrice, the Truste
shall retain all of the estate in trust and shall pay all of the net income
from the trust estate to the surviving children of the Settlor, Sylvia Corliss
King, Marjorie Corliss Dunham, and William K. Corliss, Jr., in equal shares
during their respective lifetimes.
(e) As each of the said chiidren of the Settlor shall die,
the Trustee shall account for and determine the ,pro rata share of such deceased
child immediately previous to his or her death and the Trustee shall then pay
over such share, including a pro rata share of accrued but undistributed
income, if any, to the issue of such deceased child, per stirpes, free of all
trusts.
BERNASCONI AND KOCH
ATTORNEYS AT LAW
P. O. BOX 892
BARRE. VERMONT O!lEl41
-2-
3.
INVASION OF PRINCIPAL.
In addition to the powers otherwise
granted in this Trust Agreement, and not in lieu of such powers, the Trustee
shall have full power, after the death of the Settlor and the Settlor's wife
Beatrice, in the Trustee's absolute discretion, to invade the principal of
the Trust for the benefit of any child or grandchild of the Settlor, for the
purpose of providing for said grandchild's proper care, maintenance, support,
and education, including college or graduate school in an accredited insti-
tution; and such invasion of principal may be made without regard to the
share or expectancy of a share which any such child or grandchild may have
in the trust estate, and without regard to whether such child or grandchild
is at the time of such invasion of principal entitled to receive any income
from the trust estate.
4.
TRUSTEE'S POWERS.
In addition to the powers conferred by the
common law or by statute, or by any other provisions hereof, the Trustee is
empowered:
(1) To hold, possess, manage, and control the trust estate for
the uses and purposes herein set forth, and to pay all reasonable charges,
taxes, or expenses appropriate to the management or preservation thereof.
(2) To invest and reinvest all or any part of the trust estate
in such corporate shares, bonds, securities, or other property, xeal or
personal, as in its discretion it shall deem proper, without regard to sta-
tutes, custom, or other rules limiting the property which Trustees may
purchase.
(3) To sell, transferm exchange, or otherwise dispose of any
part of the trust estate, for cash or on terms, at public or private sale,
and to pledge or encumber the Same.
:BERNASCONI AND KOCH
ATTORNEYS AT LAw
P. o. BOX 892
aARRE, VERMONT O.!S641
-3-
(4) To lease any real estate held thereunder for any term,
notwithstanding the duration of this trust.
(5) To execute and deliver any deeds, leases, assignments, or
other instruments as may be necessary to carry out the provisions of this
trust.
(6) To exercise any subscription right in connection with any
security held hereunder, and to consent to or participate in any reorganizatio ,
consolidation, or merger of any corporation, company, or association, the
securities of which may be held hereunder.
(7) To purchase securities or other property of any kind from
any person, without responsibility or liability (except for fraud or gross
negligence) for any loss resulting to the trust estate from any such purchase.
(8) To make loans, secured or unsecured, to any person, without
responsibility or liability (except for fraud or gross negligence) for any
loss resulting to the trust estate from any such loan.
(9) To retain, without liability for the loss or depreciation
resulting from such retention, original property, real or personal, received
from the Settlor's estate, for such time as it shall deem advisable, although
such property may not be of the character prescribed by law for the investment
of trust assets and although it represents a largo percentage or all of the
trust estate, and such original property may accordingly be held as a
permanent investment.
(10) In its sole discretion, to apportion between principal and
income any receipt or expenditure which in its opinion should be so
apportioned; provided that whenever the principal, or any part thereof, of
the trust estate is invested in securities purchased at a premium or at a dis-
count, any such premium shall be charged against principal and any such
discount shall be credited to principal; and provided further that share
dividends and rights to purchase additional shares issued on securities held
in trust shall be treated as principal and not as income. All other
dividends, except liquidating distributions, shall be treated as income.
BERNASCONI AND KOCH
ATTORNEYS AT LAW
P. o. sox 8112
l'JARRE, VERMONT 015641
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(11) To make any distribution hereunder either in kind or in
money. Distribution in kind shall be made at the market value of the
property distributed, and the Trustee may, in its discretion, cause the
share to be transferred to any distributee to be composed of property like or
different from that transferred to any other distributee.
5.
ADDITIONAL PROPERTY.
The Settlor reserves the right for himsel
or any other person to increase the trust estate by delivering property to
the Trustee, except that the duties and liabilities of the Trustee shall not
be substantially increased or changed in nature, except with its written
consen t.
6.
SPENDTHRIFT PROVISION.
No beneficial interest under this
trust, whether in income or principal, shall be subject to anticipation,
assignment, pledge, sale, or transfer in any manner, nor shall any beneficiary
have the power to anticipate, encumber, or charge such interest, nor shall
such interest, while in the possession of the Trustee, be liable for or subjec
to the debts, contracts, obligations, liabilities, or torts of any beneficiary.
7.
ACCOUNTING BY TRUSTEE.
The Trustee shall keep accurate
records and accounts of the trusts created herein, and annually, or more often
if desired by the Settlor, but not more often than quarterly, shall render to
the Settlor during his lifetime, statements of all receipts, disbursements,
and investment transactions. After the death of the Settlor, the Trustee shall
render, at least annually, to any adult beneficiary then entitled to income
under the terms of this trust, a statement showing in detail receipts, dis-
bursements, and distributions of both principal and income of the trust
estate.
8.
COMPENSATION OF TRUSTEE.
The Trustee shall be entitled to
a reasonable fee as compensation for its services hereunder.
9.
RESIGNATION OF AND SUCCESSOR TRUSTEE.
The Trustee may resign
at any time upon written notice given to the Settlor if he is living, or, in
BERNASCONI AND KOCH
ATTORNEYS AT LAW
the event of his death, upon written notice to the current income beneficiary
P. O. BOX e92
BARRE. VERMONT 0!5541
-5-
or beneficiaries hereunder. A successor Trustee may be appointed by the
Settlor during his lifetime, or after his death, by agreement of all income
beneficiaries or their legal guardians, or in the event of disagreement among
such income beneficiaries, by any Court having jurisdiction over this trust.
Any successor Trustee thus appointed, or, if the Trustee shall merge or be
consolidated with another corporate fiduciary, then such corporate fiduciary,
shall succeed to all the duties and to all the powers, including discretionary
powers, herein granted to the Trustee.
10.
MERGER OF TRUST.
In the event that any time after the death
of the Settlor and the Settlor's wife Beatrice, the Trustee shall be the
rustee of substantially identical trusts created by the Settlor and the
Settlor's wife Beatrice, then the Trustee, in its sole discretion, shall have
full power and authority to merge said Trusts into one by paying over all of
the assets from one trust into the other, or by such other method as the
rustee shall deem advisable. In the event of such merger, separate records
eed not be kept after the date of the merger, and the surviving trust shall
or all purposes be considered as the only trust under the control of the
rustee.
1.
AMENDMENT, REVOCATION, AND WITHDRAWAL.
The Settlor reserves
he right, at any time, and from time to time, by instrument in writing
elivered to the Trustee, to amend, modify, or revoke this Trust in whole or in
art. After the death of the Settlor, this Trust shall not be subject to
mendment or revocation, except by operation of law. The Settlor reserves the
ight, at any time, and from time to time, by written instruction to the Trustee
to withdraw any portion of the trust assets from the trust estate, and upon
eceipt of such written information, the Trustee shall forthwith make payment
o the Settlor in the manner which the Settlor directs.
BERNASCONI AND KOCH
ATTORNEYS AT LAW
P. O. sox 892-
BAR.RE. VERMONT 01:164\
-6-
BERNASCONI AND KOCH
ATTORNEYS AT LAW
P. O. BOX 81i12
BARRE. VERMONT 08641
have executed this Trust
IN WITNESS WHEREOF, the parties
'.5--4J:--
/. day of
Agreement this
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William K. Corliss, Settlor
FIRST VERMONT BANK AND TRUST COMPANY
/
//
-7-
Schedule A
The fOllowing described property has this date been delivered
by the Settlor to the Trustee, IN TRUST, under the provisions of
the foregoing Trust Agreement creating the "William K. Corliss
Trust ".
Savings
Northfie;Ld Savings Bank check 65967 $12,500
Northfield Savings C of D 7fi% due 4/1/78 $5,000
Northfield Savings C of D 7~% due 1/1/79 $2,500
Northfield Savings C of D 7ft% due 7/1/80 $2,500
First Vermont .Bank a/c no. 55-59741-3 $3,500
First Vermont Bank a/c no. 55-59742-1 $10,000
First Vermont Bank Plat. 57-100877 due 7/27/81 $10,070
Howard Bank Savings Certificate No. 008517 $5,000
7 t% due 2/17/83
Stock
100 shs. Allied Research Associates, Inc. # C62134
500
800
84
79
50
..:50
135
100
50
50
100
150
209
Warrants
"
Colonial Income Fund, Inc. # 5117
Current Income Shares, Inc. # NU 2643 and NU 12166
"
"
First Mortgage Investors # NB 19089
"
Greater Jersey Bancorp. GJB 16909
"
Mass. Mutual Corp. Investors, Inc. # BC41547
"
Mony Mortgage Investors, # N93104
"
N L Industries, Inc. # C777940
"
Plaza Realty #NU 2510
REIT Income Fund # PKC 0014585 4 3/8% Cum. Pref.
"
"
Revere Copper and Brass Incorporated #N133342
"
S.S. Pierce Co. #26535
"
Westinghouse Electric Corporation #NA 137715
Lord Abbett - Bond Debenture Fund *
"
100 war. Cleveland Trust Realty Investors, #WCU 3519, Exp. 1/15/79
100 war. Plaza Realty
Bonds
$5,000
$5,000
#RB 1127 and RB 1128
Esterline Corporation 6t% Conv. Sub. Deb. due 4/1/95
The Howard Bank Series C 9% Sub. Cap. Note
due 4/30/85 #253
.>
AMENDMENT TO TRUST AGREEMENT CREATING THE
"WILLIAM K. CORLISS LIVING TRUST"
THIS AMENDMENT, made to one certain Trust Agreement
dated February 15, 1978 is executed by William K. Corliss
("Settlor") of Northfield, Vermont and The First Vermont Bank and
Trust Company ("Trustee") of Barre, Vermont, and
WIT N E SSE T H
WHEREAS, pursuant to Article 11 of the said Trust
Agreement, the Settlor reserved the right at any time to amend,
modify, or revoke said Trust; and
WHEREAS, the tax laws of the United States have changed
substantially since February 15, 1978; and
WHEREAS, the Settlor's wife, Beatrice K. Corliss,
intends this day to revoke a corresponding Trust created by her
and to contribute the assets of that Trust to the Trust governed
by this instrument; and
WHEREAS, the Settlor and his wife, Beatrice, desire to
revise the Dispositive provisions of this Trust, (including the
elimination of "generation-skipping") and other provisions;
NOW THEREFORE, the said Trust Agreement dated_February
15, 1978, is hereby amended as follows:
1. Article 2, DISPOSITIVE PROVISIONS is deleted in its
entirety, and the following is inserted in lieu thereof:
2. DISPOSITIVE PROVISIONS.
The Trustee shall
hold, manage, invest, and reinvest the trust estate,
collect the income thereof, and dispose of the net
income and principal as follows:
(a) During the lifetime of the Settlor and
his wife, Beatrice K. Corliss, the Trustee shall pay
all of the net income of the trust estate to the
,
)
Settlor and Beatrice, or the survivor of them, not less
frequently than quarterly.
If at any time either the
3ERNASCONJ & KOCH
Settlor or Beatrice should become incompetent or for
ATTORNEYS AT LAW
BOX 892
IARRE. VERMONT 05641
any reason be unable to act in their own behalf, the
Trustee may pay to or apply for their benefit, in
addition to the payments hereinabove provided for them,
such amounts from the principal of the trust estate, up
to the whole thereof, as the Trustee may from time to
time deem necessary or advisable for their use or
benefit. The Trustee shall also pay such sums, from
principal or income, as the Settlor (or after his
death, Beatrice) may direct, orally or in writing.
(b) Upon the death of the Settlor, the
Trustee shall payout of the assets of the trust, all
of the Settlor's just debts then due, the expenses of
his last illness and funeral, and all estate,
inheritance, succession, and transfer taxes or death
duties, which may be assessed or imposed by reason of
the Settlor's death, upon his estate or any part
thereof, whether the taxable property shall be held as
an asset of this trust or not, or whether the same
shall pass under the Settlor's Will, or otherwise, and
such payment shall be made without apportionment to or
contribution from any beneficiary of the Settlor's
estate, meaning hereby that this trust shall bear the
full burden of taxes assessed against the Settlor's
estate.
Upon the death of Beatrice, whether occurring
before or after the death of the Settlor, the Trustee
shall pay the same type items, under the same
conditions, for Beatrice as are provided in this
paragraph for the Settlor.
(c) After the death of both the Settlor and
ATTORNEYS AT LAW
BOX 892
BARRE. VERMONT 05641
Beatrice, and after all payments called for in
paragraph (b) have been made, the Trustee shall render
a final account and shall distribute all remaining
assets of the Trust Estate, both principal and accrued
but undistributed income, if any, to the children of
the Settlor and Beatrice, Sylvia Corliss King, Marjorie
Corliss Dunham, and William K. Corliss, Jr., in equal
BERNASCONI & KOCH
entirety.
entirety.
shares, the share of any deceased child passing to his
or her descendants, per stirpes.
2. Article 3, INVASION OF PRINCIPAL, is deleted in its
3. Article 10, MERGER OF TRUST, is deleted in its
affirmed.
THE WILLIAM K. CORLISS LIVING TRUST, dated February 15, 1978 is
4. In all other respects, the TRUST AGREEMENT CREATING
Dated
I rfL,
at City of Barre, Vermont this ~ day
of
February, 1984.
BERNASCONI & KOCH
ATTORNEYS AT LAW
BOX 692
BARRE, VERMONT 05641
~"
.~." 7 "
. I ./(Jf;/:l.-Mn-
~. ('~>64:~
William K. Corliss, Settlor
FIRST VERMONT BANK AND TRUST COMPANY, TRUSTEE
By:
Ger
Klop,
Insurance
$5,000 Travelers Insurance #1478445
* Physical possession of certificates at Moseley, Halgarten
Done at Barre, Vermont this 15th day of February 1978.
j),?/,'/ lb'?' ,. /J /(/;) . ti",
f!r/ / .,' . / ,Y .' _ "
'r,;.//0( r>i .L'f>L/'( __j~t. Ld,~
William K. Corliss, Settlor
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Trust Offic[er
& Trust Co~ar
i
Michael H. Venuti,
First Vermont Bank
AMENDMENT OF TRUST
Exercising the power reserved unto myself under Paragraph 11
of a certain revocable trust agreement created February 15,
1978 and as amended February 16, 1984 between myself as
Settlor and First Vermont Bank and Trust Company, it's
sucessors and assigns, as Trustee, I hereby remove the said
First Vermont Bank and Trust Company and appoint the
Northfield Savings Bank in substitution thereof and as
Successor Trustee,
1--/ /0/9/
I Datetl
~ffi#~ % G-,ili~
Wi II iam K. Corl iss - Settlor
Acknowledged:
Northfleld SaVing; ~nk
By: CJJ- 1 /UA--
Dated:
7../"~/c,1
First t~Ban;</~
By: UfiU~;;j~(d(L
Dated: ~~/A/
Duly Authorized
AMENDMENT OF TRUST AGREEMENT
I, WILLIAM K. CORLISS, in exercise of the right to amend reserved in a certain Revocable Trust
Agreement executed by me on February 15, 1978 with NORTHFIELD SAVINGS BANK as Trustee (the
"Agreement"), hereby amend the Agreement as follows:
1 Section. I hereby remove NORTHFIELD SAVINGS BANK as Trustee, or Successor Trustee,
under the Agreement and appoint COMMUNITY NATIONAL BANK, a national banking association, with a
place of business in Derby, Vermont, to serve as Trustee, or Successor Trustee, as defined under the terms of the
Agreement.
2
Section. I hereby ratifY and affirm the Agreement in all other respects.
IN WITNESS WHEREOF, I have hereunto set my hand(s) this \ J..L day of A'f'<":'" \
2000.
~OF:
WI s 'K:"~\\-, \O..-C
~=t~~ C~~
Willi K. orhss,
by Marjorie C. Dunham, his attorney-in-fact,
pursuant to a power of attorney dated
January 19,1995
STATE OF (1oVlVl~cA-; c_'_d~- ~ \
COUNTYOF'\="'O:\,,-~..\,Q SS 6\>..;~~~\- ...AI.-pR\ \, :;J..OO<>
At ~),f'j, ~ c-....,-\- in said County and State, this "I ~ day of '^ 'f';a:, \ , 2000
personally appeared RJORIE C. DUNHAM and she acknowledged this mstrument, by her Signed, to be
her free act apd deed, and her free act and deed on behalf of William K. Corliss, pursuant to a power of attorney
dated \ \ \''1 \"11')"'. J ! I. L ,'~__
Before me, ~ - ~~7 -- -
Notary Public CYN-, HI.. SW/\NSIGER
NOTARY PUBLIC
ACCEPTANCE OF TRUSTEESHIP MY COMMISSION EXPIRES AUG. 31,2003
I, W~~A ;fy{Jh. duly authorized representative of Community National
Bank, a na'tional banking association, with a principal place of business in Derby, Vermont, hereby accept
appointment as Trustee or Successor Trustee under the terms of the Trust Agreement dated February 15, 1978.
Dated ay;Lr.fl,;2~ ~ ' this 3.,:' day of 4ud/C , 2000.
~iONAL BANK
4422
REV.\S06EX-+ \1_67}
..
SCHEDULE E
CASH, BANK DEPOSITS AND
MISCELLANEOUS
PERSONAL PROPERTY
Please Print or Type
FILE NUMBER
COMMONWEALTH OF PENNSYlVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
William K. Corliss
SS# 019-01-0745
09/08/2002
(All property jointly-owned with the Right of Survivorship must be disclosed on Schedule F)
ITEM
NUMBER
DESCRIPTION
VALUE AT
DATE OF DEATH
1
Commonwealth of Massachusetts - Medicare Part B premium
refund.
532.15
2
Commonwealth of Massachusetts - group health insurance
premium refund.
119.64
TOTAL (Also enter on line 5, Recapitulation) $
651.79
(Attach additional 8Y2" X 11" sheets if more space is needed.)
REIJ-1&l9 EX. + (\-97)
'*'
SCHEDULE F
JOINTLY-OWNED PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
william K. Corliss
FILE NUMBER
SS# 019-01-0745 09/08/2002
If an asset was made joint within one year of the decedent's date of death, It must be reported on Schedule G.
SURVIVING JOINT TENANT(S\ NAME
ADDRESS
RELATIONSHIP TO DECEDENT
A.
William K. Corliss, Jr.
600 South York Street
Mechanicsburg, PA 17055
Son
B.
c.
JOINTLY-OWNED PROPERTY:
LETTER DATE DESCRIPTION OF PROPERTY %OF DATE OF DEATH
ITEM FOR JOINT MAOE Include name offinancial institution and bank account number or similar identifying number. Attach DATE OF DEATH DECD'S VALUE OF
NUMBER TENANT JOINT deed for jointly-held real estate, VAlUE OF ASSET INTEREST DECEDENT'S INTEREST
1. A. 12/23/ 9 Checking Acct. #6100628159, 2,086.71 50.00% 1,043.36
- Citizens Bank, Mechanicsburg,
opened 12/23/99 in joint names of
Decedent and his son, William K.
Corliss, Jr. , principal balance as of
D.O.D. :
TOTAL (Also enter on line 6, Recapitulation) $ 1,043.36
(If more space is needed, insert additional sheets of the same size)
.: CITIZENS BANK
525 William Penn Place
Suite 153-2510
Pittsburgh, PA 15219
October 31, 2002
Marlin R McCaleb
219 E Main St
PO Box 230
Mechanicsburg, P A 17055
Estate of WILLIAM K CORLISS SR
Date of Death: Sep 08, 2002
SSN: 019-01-0745
Dear Sir/Madam:
In accordance with your request, the attached information sheet has been provided in the above decedent's
name as of his/her date of death.
For IL or LC accounts, contact our Loan Department at 1-800-537-5591. For all other inquiries, please
call 412.867.2299.
Sincerely,
.7~~~
Philip Lynch
Operations Services
$ GOG olls:)mluI Gl.A
lL.980Z$ GOG JO su :):)uulus: luno:):)v
$ GOG Ol ~uHsOd lSU'1 uuoJ lS:)l:)lUI
lL.980Z$ GOGJo su :):)uulus: lud~:)U~ld
~u~))::):)qJ :)dAl. luno:):)v
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(IS SSI'11IOJ)I WVI'1'1IM. (IO (If SSI'11IOJ)I WVI'1'1IM. :)llH luno:):)v
6~18Z90019 l:)qmnN luno:):)v
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REV.1510EX+(1.97)
'*'
SCHEDULE G
INTER.VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DEC DENT
ESTATE OF
William K. Corliss
SS# 019-01-0745 09/08/2002
FILE NUMBER
ITEM
NUMBER
1.
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes.
DESCRIPTION OF PROPERTY
INC1.-IJDETHENAMECFTrlEiRANSFEREE,lliElRRELATlONSHIPTODECEDENiANDTrlE DATE OF TRANSFER
AITACHACOPYOFTHEDEEDFORREALESTATE.
DATE OF DEATH
VALUE OF ASSET
590,175.00
William K. Corliss Living Trust, - inter
vivos Trust created by Decedent on
02/15/78, amended 02/16/84, 02/15/91 and
04/07/00, with Community National Bank,
of Vermont, as Trustee. See attached
letter dated 09/27/02 and Trustee's
Summary and Schedule. Principal balance
as of 0.0.0.: $582,847.00; Interest
accrued to 0.0.0.: $7,328.00; Total
Value:
%OF
DECO'S
INTEREST
100%
EXCLUSION
IFAPF'LICABLE\
TOTAL (Also enter on line 7, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
TAXABLE VALUE
590,175.00
590,175.00
I COMMUNITY FINANCIAL SERVICES GROUP
The Trust & Investment Management Affiliate oj
Community National Bank
CFSG
September 27,2002
Marlon McCalab, Esq.
P.O. Box 230
Mechanicsburg, PAl 7055
Re: TlU/A William Corliss
Dear Mr. McCalab:
Enclosed are the following for preparation of the Pennsylvania Estate
Tax Return on behalf ofthe Corliss estate:
. Copy of the William Corliss Revocable Trust document
. Tabulation of trust assets with date of death values indicated
under column marked "market value"
. Notation next to each security for Income in Respect of Decedent
totaling $7,328.
Please call if we can be of further assistance.
""
V erytruly yours,
i/ ";71!~
C Michael H. Venuti
Vice Chairman
,......'.
.~.~
MHV Ipas
Enclosures
Cc: William Corliss, Jr.
Marjorie Dunham
Sylvia King
100 Main Street, Suite 260, P.O. Box 120 . Newport, Vermont 05855
Telephone: 802-334-1677 . 877-334-1677 . Fax: 802-334-5730
www.communityfinancial.net
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SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
William K. Corliss
FILE NUMBER
88#019-01-0745
09/08/2002
Debts of decedent must be reported on Schedule I.
ITEM
NUM8ER
A.
1.
2.
3.
4.
5.
6.
7.
B.
1.
2.
3.
4.
5.
6.
7.
DESCRIPTION
AMOUNT
120.50
FUNERALEXP~NSES'
Gordon s Florist & Greenhouses, Ipswich, MA - flowers for
memorial service.
Myers Funeral Home, Mechanicsburg, PA - funeral expense.
R.S. Lane Company, Gloucester, MA - grave opening.
Rev. Charles R. Burgard - funeral expense, bedside funeral
service at Messiah Village, Mechanicsburg, PA.
Rev. Wendy Fitting - funeral expense, memorial service in
Gloucester, MA.
Gloucester House Restaurant - funeral expense, memorial
service luncheon, Gloucester, MA.
Mt. Pleasant Memorials, Gloucester, MA - funeral expense,
cleaning and engraving marker.
ADMINISTRATIVE COSTS:
Personal Representative's Commissions
1,796.10
300.00
100.00
165.00
396.00
545.00
Name of Personal Representative (s)
Social Security Numbe~s) I EIN Number of Personal Representative(s)
Street Address
City
State
Zip
Year(s) Commission Paid:
Attorney Fees
Law Offices - Marlin R. McCaleb
1,500.00
Family Exemption: (If decedents address is not the same as claimants, attach explanation)
Claimant
Street Address
City
Relationship of Claimant to Decedent
State
Zip
Probate Fees
Accountants Fees
Tax Return Preparer's Fees
1.
Other Administrative Costs
Community Financial Services Group - pro-rated Trustee's fee
for 08/21/2002 - 09/08/2002.
298.00
2.
Larry A. Murphy - preparation of Decedentls final income tax
returns.
115.00
TOTAL (Also enteron line 9, Recapitulation) $
5,335.60
(If more space IS needed, Insert additional sheets of the same size)
'. .
RE\I.1512 EX' (1-971
'*
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES & LIENS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
FILE NUMBER
ESTATE OF
William K. Corliss
SS# 019-01-0745
09/08/2002
Include unreimbursed medical expenses.
ITEM
NUMBER
DESCRIPTION
AMOUNT
2.
Pharrnerica - account payable, prescription medications.
6,657.25
144.75
1.
Messiah Village - account payable, room, board and medical care
TOTAL (Also enter on line 10, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
6,802.00
. .
REV-15!3EX+(1-97)
'*'
SCHEDULE J
BENEFICIARIES
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
William K. Corliss
SS# 019-01-0745
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY
I. TAXABLE DISTRIBUTIONS (include outright spousal distributions)
1. William K. Corliss, Jr.
600 S. York Street
Mechanicsburg, PA 17055
2. Marjorie Jean Dunham
277 S. Compo Road
Westport, CT 06880
3. Sylvia King
10619 N. 56th Street
Temple Terrace, FL 33617
FILE NUMBER
RELA TtONSHIP TO DECEDENT
Do Not List Trustee(s)
Son
Daughter
Daughter
AMOUNT OR SHARE
OF ESTATE
$ 193,939.75
192,896.40
192,896.40
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 17, AS APPROPRIATE, ON REV 1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
A SPOUSAL DISTRIBUTtONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1.
B CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1.
TOTAL OF PART II. ENTER TOTAL NON-TAXABLE DISTRtBUTIONS ON LINE 13 OF REV 1500 COVER SHEET $
(tf more space is needed, insert additional sheets of the same size)
0.00
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE REV-1162 EX111-96)
BUREAU OF INDIVIDUAL TAXES
DEPT. 280601
HARRISBURG, PA 1 7 1 28-0601
PENNSYLVANIA
RECEIVED FROM: INHERITANCE AND ESTATE TAX
OFFICIAL RECEIPT
NO. CD 001904
MC CALEB MARLIN R
219 E MAIN STREET
MECHANICSBURG, PA 17055
ACN
ASSESSMENT AMOUNT
CONTROL
NUMBER
fold
ESTATE INFORMATION: ssrv: ors-of-o~45
FILE NUMBER: 2102-1077
DECEDENT NAME: CORLISS WILLIAM KIRKLAND
DATE OF PAYMENT: 12/02/2002
POSTMARK DATE: 00/00/0000
couNTY: CUMBERLAND
DATE OF DEATH: 09/08/2002
101 ~ 524,783.56
TOTAL AMOUNT PAID:
REMARKS: MARLIN R MCCALEB ESQUIRE
CHECK# 200397
INITIALS: AC
SEAL RECEIVED BY: MARY C. LEWIS
REGISTER OF WILLS
524,783.56
REGISTER OF WILLS
~'~ ioy ~
BUREAU OF INDIVIDUAL TAXES
INHERITANCE TAX DIVISION
DEPT. 280601
HARRISBURG, PA 17128-0601
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
NOTICE OF INHERITANCE TAX
APPRAISEMENT, ALLOWANCE OR DISALLOWANCE
OF DEDUCTIONS AND ASSESSMENT OF TAX
REY-1547 E% ~FP (O1-OS)
DATE 01-28-2003
ESTATE OF CORLISS WILLIAM K
DATE OF DEATH 09-08-2002
FILE NUMBER 21 02-1077
COUNTY CUMBERLAND
MARLIN R MI:CALEB ~ ACN 101
219 E MAIN ST Amount Remitted
MECHANICSBIJRG PA 17055
MAKE CHECK PAYABLE AND REMIT PAYMENT T0:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
CUT ALONG THIS LINE - RETAIN LOWER PORTION FOR YOUR RECORDS ~
----------------------------------------------------------------------------------------------------------------
REV-1547 EX AFP (01-03) NOTICE OF INHERITANCE TAX APPRAISEMENT, ALLOWANCE OR
DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
ESTATE OF CORLISS WILLIAM K FILE N0. 21 02-1077 ACN 101 DATE 01-28-2003
TAX RETURN WAS: (X) ACCEPTED AS FILED ( ) CHANGED
RESERVATION CONCERNING FUTURE INTEREST - SEE REVERSE
APPRAISED VALUE OF RETURN BASED ON: ORIGINAL RETURN
1. Real Estate (Schedule A) (1) .00 NOTE: To insure proper
2. Stocks and Bands (Schedule B) (2) .00 credit to
your account,
3. Closely Held Stock/Partnership Interest (Schedule C) (3) .0 0 submit the upper portion
4. Mortgages/Not:es Receivable (Schedule D) (4l .00 of this form with your
5. Cash/Bank Deposits/Misc. Personal Property (Schedule E) (5) 651.79 tax payment.
6. Jointly Owned Property (Schedule F) (6) 1 , 043.36
7. Transfers (Schedule G) (7) 590,175.00
8. Total Assets (g) 591,870.15
APPROVED DEDUCTIONS AND EXEMPTIONS:
9.
Funeral Expenses/Adm. Costs/Misc. Expenses (Schedule H) 5,335.60
(9)
10. Debts/Mortgage Liabilities/Liens (Schedule I) (10) 6,802.00
11. Total Deductions (11) 7 _? . 1 37.60
12. Net Value of Tax Return (12) 579,732.55
13. Charitable/Governmental Bequests; Nonelected 9113 Trus ts (Schedule J) (13) .00
14. Net Value of Estate Subject to Tax (14) 579,732.55
NOTE: If an assessment was issued previously, lines 14, 15 andior 16, 17, 18 and 19 will
reflect figures that include the total of ALL returns assessed to date.
ASSESSMENT OF TAX:
15. Amount of Line 14 at Spousal rate (15) .00 X 00 __ .00
16. Amount of Line 14 taxable at Lineal/Class A rate (16) 579,732.55 X 045= 26,087.96
17. Amount of Line 14 at Sibling rate (17) .00 X 12 - .00
18. Amount of Lime 14 taxable at Collateral/Class B rate (18) •00 X 15 - .00
19. Principal Tax Due (lq)= 26,087.96
TAY f'DCTITTC.
- -
DATE
NUMBER +
INTEREST/PEN PAID (-)
AMOUNT PAID
12-02-2002 I:D001904 1,304.40 24,783.56
TOTAL TAX CREDIT 26,087.96
BALANCE OF TAX DUE .00
INTEREST AND PEN. .00
TOTAL DUE .00
* IF PAID AFTER DATE INDICATED, SEE REVERSE ( IF TOTAL DUE IS LESS THAN S1, NO PAYMENT IS REQUIRED.
FOR CALCULATION OF ADDITIONAL INTEREST. IF TOTAL DUE IS REFLECTED AS A "CREDIT" (CR), YOU MAY BE DUE
A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTIONS.)
RESERVATION: Estates of decedents dying on or before December 12, 1982 -- if any future interest in the estate is transferred
in possession or enjoyment to Class B (collateral) beneficiaries of the decedent after the expiration of any estate for
life or far years, the Commonwealth hereby expressly reserves the right to appraise and assess transfer Inheritance Taxes
at the lawful Class B (collateral) rate an any such future interest.
PURPOSE OF
NOTICE: To fulfill the requirements of Section 2140 of the Inheritance and Estate Tax Act, Act 23 of 2000. (72 P.S.
Section 9140).
PAYMENT: Detach the top portion of this Notice and submit with your payment to the Register of Wills printed on the reverse side.
--Make check ar money order payable to: REGISTER OF WILLS, AGENT
REFUND (CR): A refund of a tax credit, which was not requested an the Tax Return, may be requested by completing an ^Application
for Refund of Pennsylvania Inheritance and Estate Tax" (REV-1313). Applications are available at the Office
of the Register of Wills, any of the 23 Revenue District Offices, or by calling the spacial 24-hour
answering service for forms ordering: 1-800-362-2050; services far taxpayers with special hearing and / or
speaking needs: 1-800-447-3020 (TT only).
OBJECTIONS: Any party in interest not satisfied with the appraisement, allowance, or disallowance of deductions, ar assessment
of tax (including discount or interest) as shown on this Notice must object within sixty (60) days of receipt of
this Notice by:
--written protest to the PA Department of Revenue, Board of Appeals, Dept. 281021, Harrisburg, PA 17128-1021, OR
--election to have the matter determined at audit of the account of the personal representative, OR
--appeal to the Orphans' Court.
ADMIN-
ISTRATIVE
CORRECTIONS: Factual errors discovered on this assessment should be addressed in writing to: PA Department of Revenue,
Bureau of Individual Taxes, ATTN: Post Assessment Review Unit, Dept. 280601, Harrisburg, PA 17128-0601
Phone C717) 787-6505. See page 5 of the booklet "Instructions for Inheritance Tax Return for a Resident
Decedent" (REV-1501) for an explanation of administratively correctable errors.
DISCOUNT: If any tax due is paid within three (3) calendar months after the decedent's death, a five percent (5%) discount of
the tax paid is allowed.
PENALTY: The 15% tax amnesty non-participation penalty is computed on the total of the tax and interest assessed, and not
paid before January 18, 1996, the first day after the end of the tax amnesty period. This non-participation
penalty is appealable in the same manner and in the the same time period as you would appeal the tax and interest
that has been assessed as indicated on this notice.
INTEREST: Interest is charged beginning with first day of delinquency, or nine C9) months and one (1) day from the date of
death, to the date of payment. Taxes which became delinquent before January 1, 1982 bear interest at the rate of
six C6%7 percent per annum calculated at a daily rate of .000164. All taxes which became delinquent on and after
January 1, 1982 will bear interest at a rate which will vary from calendar year to calendar year with that rate
announced by the PA Department of Revenue. The applicable interest rates for 1982 through 2003 are:
Interest Daily Interest Daily Interest Daily
Year Rate Factor Vear Rate Factor Year Rate Factor
1982 20% .000548 1987 9% .000247 1999 7% .000192
1983 16% .000438 1988-1991 11% .000301 2000 8% .000219
1984 11% .000301 1992 9% .000247 2001 9% .000247
1985 13% .000356 1993-1994 7% .OOD192 2002 6% .000164
1986 10% .000274 1995-1998 9% .000247 2003 5% .OOD137
--Interest is calculated as follows:
INTEREST = BALANCE OF TAX UNPAID X NUMBER OF DAYS DELINQUENT X DAILY INTEREST FACTOR
--Any Notice issued after the tax becomes delinquent will reflect an interest calculation to fifteen (15) days
beyond the date of the assessment. If payment is made after the interest computation date shown on the
Notice, additional interest must be calculated.