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REV-1500 EX + (6-00)
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REV-1500
INHERITANCE TAX RETURN
RESIDENT DECEDENT
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COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
DEPT. 2.80601
HARRISBURG, PA 17128-0601
DECEDENT'S NAME(LAST, FIRST, ANO MIDDLE INITIAL)
Porter Robert A.
DATE OF DEATH (MM-DD- YEAR)
OFFICIAL USE ONLY
FILEftBER
DI
0002
DATE OF BIRTH (MM-DD-YEAR)
04/02 2000 09/28/1929
IF APPLICABLE SURVIVING SPOUSE'S NAME LAST, FIRST, AND MIDDLE INITIAL
Porter, Miriam R.
X 1. Original Return
4. limited Estate
2.
4a.
Supplemental Return
Future Interest Compromise (date of death after 12-12-82)
Decedent Maintained a living Trust
NUMBER
COUNTY CODE YEAR
SOCIAL SECURITY NUMBER
167-24-2584
THIS RETURN MUST BE FILED IN DUPliCATE WITH THE
REGISTER OF WILLS
SOCIAL SECUR TV NUMBER
x
o
3 R date of eath
. emalnder Return prior to 12-13-82)
5. Federal Estate Tax Return Required
8. Total Number of Safe Deposit Boxes
X 6. Decedent Died Testate
(Attac:h copy of Will)
D 9. LitigatIon Proc:eeds Received
X 7.
o
11. Election to tax under Sec. 9113(A)
(Attach Sch 0)
DID.
(Attach copy of Trust)
Spousal Poverty Credit
{date of death between 12-31-91 and 1-1-95)
C P
o 0
R N
R D
E E
S N
T
C
o
M
P
T U
A T
X A
T
I
o
N
COMPLETE MAILING ADDRESS
NAME
Donna M. Mullin Es .
FIRM NAME (If Applicable)
JAMES, SMITH, DURKIN & CONNELLY, LLP
TELEPHONE NUMBER
134 Sipe Avenue
Humrne1stown, PA 17036
17 533-32 0
1. Real Estate (Schedule A)
2. Stocks and Bonds (Schedule 8)
3. Closely Held Corporation, Partnership or
Sole-Proprietorship
4. Mortgages & Notes Receivable (Schedule D)
5. Cash, Bank Deposits & Miscellaneous Personal Property
(Schedule E)
6. Jointly Owned Property (Schedule F)
D Separate Billing Requested
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (7)
(Schedule G or L)
8. Total Gross Assets (total Lines 1-7)
9. Funeral Expenses & Administrative Costs (Schedule H) (9)
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) (10)
11. Total Deductions (total Lines 9 & 10)
12. Net Value of Estate (Line 8 minus Line 11)
13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been
made (Schedule J)
14. Net Value Subject to Tax (Line 12 minus Line 13)
(1)
(2)
(3)
R
E
C
A
P
I
T
U
L
A
T
I
o
N
(4)
(5)
None
None
None
OFFICIAL USE ONLY
(6)
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
15. Amount of Line 14 taxable at the spousal tax
rate, or transfers under Sec. 9116(aX1,2) 192,624.52
16. Amount of Line 14 taxable at lineal rate
17. Amount of Une 14 taxable at sibling rate
18. Amount of Line 14 taxable at collateral rate
19. Tax Due
20.
None
No~~~
,~-
None
1,296,984.48
11,138.98
None
(8) 1,296,984.48
(11) 11.138.98
(12) 1,285,845.50
(13) 1.093 .220. 98
(14) 192,624.52
x
X
X
X
o 0
.0 6
.12
.15
(15)
(16)
(17)
(18)
(19)
0.00
0.00
0.00
0.00
0.00
Copyright (c) 2000 form software only The Lackner Group, Inc.
Form REV-1500 EX (Rev. 6-00)
Decedent's Complete A.....ress:
STREET ADDRESS
1001 Alison Avenue
CITY I STATE I ZIP
Mechanicsburg PA 17055
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
0.00
0.00
Total Credits ( A + B + C) (2)
0.00
3. Interest/Penalty if applicable
D. Interest
E. Penalty
Total Interest/Penalty ( D + E) (3)
4. 1f Line 2 is greater than Line 1 + Une 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 1 Line 20 to request a refund (4)
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE. (5)
A. Enter the interest on the tax dUe. (SA)
B. Enter the total of Line S + SA This is the BALANCE DUE. (5B)
Make Check Payable 10: . REGISTER OF WILLS, AGENT
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llUU':1ln:".".
PLEASE ANSWER THE FOLLOWING QUESTiONS BY PLACING AN "X'; IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred; ~i ~
b. retain the right to designate who shall use the property transferred or its lncome; .
c. retain a reversionary interest; or .
d. receive the promise for li~e of either payments, benefits or care?
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? .
3. Did decedent own an "in trust for" or payable upon death bank account or security at his
or her death?
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property
which contains a beneficiary designation?
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES,
YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
0.00
0.00
0.00
0.00
0.00
o
o
IT]
rn
m
o
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, It Is true,
correct and complete. Declaration of preparer other than the personal representative Is based on all information of which preparer has any k.nowledge.
SIGNATURE OF PERSON RESPONS1BLE FOR FILING RETURN Miriam R. Porter
1001 Alison Avenue ~
-- - - -- - - - - -- - - - - - -- -- -- -- - - - -- -- - - - -- - - - -- - -- -- - - -- - - /;J- ..-'1/ dTJ
Mechanicsburg, PA 17055
JAMES, SMITH, DURKIN & CONNELLY, LLP
134 S Avenue
DATE
~
SIGNATURE OF PREPAAER OTHER THAN REPRESENTATIVE
R
f o-11Lv
DAlE
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. 9116 (a) (1.1) (iJ].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0%
[72 P.S. 9116 (a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for dlsclosure of assets
and filing a tax relurn are still applicable even if the surviving spouse is the only 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. 9116 (a) (1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5%, except as noted in 72 P.S. 9116(1.2)
[72 P.S. 9116(.)(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. 9116(aX1.3)1. A sibling is defined, under
Section 9102., as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
CopyrIght (cl 2000 form software only The Lackner Group, Inc. Form REV-1500 EX (Rev. 6~OO)
REV~ 1510 EX + (1-97)
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Robert A. Porter
04/02/2000
FILE NUMBER
SSIf 167-24-2584
This schedule must be completed and 1iled i1 the answer to any of questions 1 through 4 on page 2 is yes.
ITEM
NUMBER
1
DESCRIPTION OF PROPERTY
RELA~~8~~~I~ t'6b~~~5~~l~~J~~~~1r~E6F V~~~SFER.
ATTACH ACOPYOF THE DEED FOR REAL ESTATE.
Fahnestock & Co., Inc. -
5157.53 shares United
Income Fund Class A in IRA
account owned by decedent;
beneficiary is decedent's
spouse; valued per
vice-president's letter.
DATE OF DEATH
VALUE OF ASSET
46,882.00
2
Fahnestock & Co., Inc. -
863.71 shares Chase Vista
Growth & Income Fund Class
B in IRA account owned by
decedent; beneficiary is
decedent's spouse; valued
per vice-president's
letter.
34,695.00
3
Prudential Securities
Incorporated - Prudential
Discovery Select Annuity
held in account
#044-278383-73, titled in
the name of the Robert A.
Porter Living Trust dated
1/2/96, valued per sales
assistant letter.
16,245.94
4
3,334 shares Bell Atlantic,
CUSIP #077853109 - 3,334
shares held by decedent,
titled in the name of the
Robert A. Porter Living
Trust dated 01/02/1996.
207,072.66
5
7,738.568 shares Bell
Atlantic, CUSIP #077853109
- 7,738.568 shares held in
Partial Dividend
Reinvestment Plan account
#9551-7934, titled in the
name of the Robert A.
Porter Living Trust dated
01/02/1996.
480,637.62
6
Belco Community Credit
Union - Certificate of
5,358.43
Total of Continuation Schedule(s)
%OF
DECO'S
INTEREST
100.00%
EXCLUSION
(IF APPLICABLE)
0.00
100.00%
100.00%
100.00%
100.00%
100.00%
TOTAL (Also enter on line 7. Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
Copyright (c) 1996 form software only CPSystems, Inc.
0.00
0.00
0.00
0.00
0.00
TAXABLE VALUE
46,882.00
34,695.00
16,245.94
207,072.66
480,637.62
5,358.43
506,092.83
1,296,984.48
Form REV-1510 EX (Rev. 1-97)
Estate of: Robert A. Porter
Sac Sec #: 167-24-2584
Date of Death: 04/02/2000
Continuation of Schedule G
(Inter-Vivos Transfers & Misc. Non-Probate Property)
Item Description of Property
#
Date of Death % Decd Exclusion Taxable Value
Value of Asset Intrst
Deposit account #042250
titled in the name of the
Robert A. Porter Living
Trust dated 01/02/1996,
valued per credit union
decedent estate information
form.
7 Be1co Community Credit
Union - Accrued interest
earned on Certificate of
Deposit account #042250
referenced above.
92.64 100.00%
0.00
92.64
8 Be1co Community Credit
Union - Interest-bearing
regular savings account
#042250 titled in the name
of the Robert A. Porter
Living Trust dated
01/02/1996, valued per
credit union decedent
estate information form.
13,177.66 100.00%
0.00
13,177.66
9 Be1co Community Credit
Union - Accrued interest
earned on regular savings
account #042250 referenced
above.
2.26 100.00%
0.00
2.26
10 Be1co Community Credit
Union - Interest-bearing
checking account #042250
titled in the name of the
Robert A. Porter Living
Trust dated 01/02/1996,
valued per credit union
decedent estate information
form.
9,127.83 100.00%
0.00
9,127.83
11 Be1co Community Credit
Union - Accrued interest
earned on checking account
#042250 referenced above.
0.74 100.00%
0.00
0.74
Estate of: Robert A. Porter
Sac Sec #: 167-24-2584
Date of Death: 04/02/2000
Continuation of Schedule G
(Inter-Vivos Transfers & Misc. Non-Probate Property)
Item Description of Property
#
Date of Death % Decd Exclusion Taxable Value
Value of Asset Intrst
12 Decedent/s residence -
House and lot situate at
1001 Alison Drive, Borough
of Mechanicsburg,
Cumberland County,
Pennsylvania, titled in the
names of Robert A. Porter
and Miriam R. Porter,
Trustees, or their
successors in trust, under
the Robert A. Porter Living
Trust dated 01/02/1996, and
any amendments thereto and
Miriam R. Porter and Robert
A. Porter, Trustees, or
their successors in trust,
under the Miriam R. Porter
Living Trust dated
01/02/1996 and any
amendments thereto, as
tenants in common; deed
reference Book 133, Page
801; valued per assessed
value ($10,320) times
common level ratio factor
for Cumberland County
(15.15); one-half (1/2) of
asset's value is reported.
78,174.00 100.00%
0.00
78,174.00
13 1,076.087 units Eaton Vance
- PA Muni Fund Class B held
in account #5001427474,
titled in the name of the
Robert A. Porter Living
Trust dated 01/02/1996.
10,513.37 100.00%
0.00
10,513.37
14 150.325 units Edward Jones
- 150.325 units of
VanKampen High Yield Muni
Fund held in account
#270-06778 titled in the
name of the Robert A.
Porter Living Trust dated
1,612.99 100.00%
0.00
1,612.99
Estate of: Robert A. Porter
Soc Sec #: 167-24-2584
Date of Death: 04/02/2000
Continuation of Schedule G
(Inter-Vivos Transfers & Misc. Non-Probate Property)
Item Description of Property
#
Date of Death % Decd Exclusion Taxable Value
Value of Asset Intrst
1/2/96, valued per
investment representative
letter.
15 150 units Edward Jones -
15,000 units of Cumberland
Valley School District Bond
held in account #270-06778
titled in the name of the
Robert A. Porter Living
Trust dated 1/2/96, valued
per investment
representative letter.
13,868.54 100.00%
0.00
13,868.54
16 100 units Edward Jones
10,000 units of Montgomery
County PA Industrial
Division Authority Bond
held in account #270-06778
titled in the name of the
Robert A. Porter Living
Trust dated 1/2/96, valued
per investment
representative letter.
8,797.63 100.00%
0.00
8,797.63
17 420 shares Prudential
Securities Incorporated
420 shares of Keystone
Financial Inc. stock held
in account #044-278383-73,
titled in the name of the
Robert A. Porter Living
Trust dated 1/2/96, valued
per sales assistant letter.
7,586.25 100.00%
0.00
7,586.25
18 2,236.046 'shares Prudential
Securities Incorporated
2236.046 units of AIM
Weingarten Fund held in
account #044-278383-73,
titled in the name of the
Robert A. Porter Living
Trust dated 1/2/96, valued
per sales assistant letter.
74,896.36 100.00%
0.00
74,896.36
Estate of: Robert A. Porter
Sac Sec #: 167-24-2584
Date of Death: 04/02/2000
Continuation of Schedule G
(Inter-Vivos Transfers & Misc. Non-Probate Property)
Item Description of Property
#
Date of Death % Decd Exclusion Taxable Value
Value of Asset Intrst
19 531.678 shares Prudential
Securities Incorporated -
531.678 units of Homestate
Group PA Growth Fund A held
in account #044-278383-73,
titled in the name of the
Robert A. Porter Living
Trust dated 1/2/96, valued
per sales assistant letter.
11,141.31 100.00%
0.00
11,141.31
20 4,154.98 shares Prudential
Securities Incorporated
4154.980 units of
Prudential National
Municipal Fund Class A held
in account #044-278383-73,
titled in the name of the
Robert A. Porter Living
Trust dated 1/2/96, valued
per sales assistant letter.
61,701.45 100.00%
0.00
61,701.45
21 73.92 shares Prudential
Securities Incorporated
Money market funds held in
account #044-278383-73,
titled in the name of the
Robert A. Porter Living
Trust dated 1/2/96, valued
per sales assistant letter.
73.92 100.00%
0.00
73.92
22 3,689.731 shares SBC
Communications Inc, CUSIP
#78387G103 - 3,689.731
shares traded on the NYSE,
common, held in account
#15321-27942, titled in the
name of the Robert A.
Porter Living Trust dated
01/02/1996.
158,946.69 100.00%
0.00
158,946.69
23 Timeshare unit - One
bedroom, 2 bath timeshare
unit, situate at Sea Garden
6,062.50 100.00%
0.00
6,062.50
Estate of: Robert A. Porter
Sac Sec #: 167-24-2584
Date of Death: 04/02/2000
Continuation of Schedule G
(Inter-Vivos Transfers & Misc. Non-Probate Property)
Item Description of Property
#
Date of Death % Decd Exclusion Taxable Value
Value of Asset Intrst
Beach & Tennis Club, Unit
#245, Pompano Beach, FL;
titled in the names of
Robert A. Porter and Miriam
R. Porter, Trustees, or
their successors in trust,
under the Robert A. Porter
Living Trust dated
01/02/1996, and any
amendments thereto, and
Miriam R. Porter and Robert
A. Porter, Trustees, or
their successors in trust,
under the Miriam R. Porter
Living Trust dated
01/02/1996, and any
amendments thereto, as
tenants in common; valued
per comparative market
analysis; one-half (1/2) of
asset's value is reported.
24
3,500.00 100.00%
3,500.00
0.00
Timeshare unit - One
bedroom, 2 bath timeshare
unit, situate at Fairfield
Estates, Williamsburg, VA;
titled in the names of
Robert A. Porter and Miriam
R. Porter, Trustees, or
their successors in trust,
under the Robert A. Porter
Living Trust dated
01/02/1996, and any
amendments thereto, and
Miriam R. Porter and Robert
A. Porter, Trustees, or
their successors in trust,
under the Miriam R. Porter
Living Trust dated
01/02/1996, and any
amendments thereto, as
tenants in common; valued
per comparative market
analysis; one-half (1/2) of
Estate of: Robert A. Porter
Sac See #: 167-24-2584
Date of Death: 04/02/2000
Continuation of Schedule G
(Inter-Vivos Transfers & Misc. Non-Probate Property)
Item Description of Property
1/
Date of Death % Deed Exclusion Taxable Value
Value of Asset Intrst
asset's value is reported.
25
United States Savings Bonds
- Redemption value of U.S.
Savings Bonds titled in the
name of the Robert A.
Porter Living Trust dated
01/02/96, valued per
Inventory.
46,816.69 100.00%
0.00
46,816.69
506,092.83
REV-1511 EX+(1-97)
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Robert A. Porter
04/02/2000
FILE NUMBER
SSff 167-24-2584
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES'
1 Cremation Society of Pennsylvania - Funeral goods and services 1,290.00
2 Funeral flowers 434.87
3 Honorarium for organist 75.00
4 Post-funeral reception for family and friends 315.05
B. ADMINISTRATIVE COSTS,
1. Personal Representative's Commissions
Name of Personal Representative(s)
Social Security Number(s) I EIN Number of Personal Representative(s)
Street Address
City State Zip
-
Year{s) Commission Paid:
2. Attorney's Fees JAMES, SMITH, DURKIN & CONNELLY, LLP 8,000.00
3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City State Zip
-
Relationship of Claimant to Decedent
4. Probate Fees
5. Accountant's Fees
6. Tax Return Pre parer's Fees
7. Other Administrative Costs
1 Guaranteed Appraisal Company - Fee for appraising Florida time 400.00
share
2 James, Smith, Durkin & Connelly, LLP - Reserved for closing costs 500.00
3 PA Department of Health, Division of Vital Records - Cost of ten 30.00
(10) additional death certificates
4 PNC Bank, N.A. - Bank service charge for providing medallion 12.00
signature guarantees
5 Postage - stamps for thank-you notes 19.80
Total of Continuation Schedulers) 62.26
TOTAL (Also enter on line 9, Recapitulation) $ 11,138.98
(If more space is needed, insert additional sheets of the same size)
Copyright (c) 1996 form software only CPSystems, Inc.
Form REV-1Stt EX (Rev. 1-97)
Estate of: Robert A. Porter
Soc Sec #: 167-24-2584
Date of Death: 04/02/2000
Item
1f
Description
Continuation of Schedule H-B2
(Attorney's Fees)
Amount
1
James, Smith, Durkin & Connelly, LLP - Attorney fees
8,000.00
8,000.00
Estate of: Robert A. Porter
Sac Sec #: 167-24-2584
Date of Death: 04/02/2000
Continuation of Schedule H-B7
(Other Administrative Costs)
Item
11
Description
Amount
6
U.S. Postal Service - Cost of mailing stock certificates to
transfer agents via registered mail
62.26
62.26
REV-1513 EX t (1-97)
COMMONWEALTH OF PENNSYLVANIA
INHERJTANCETAX RETURN
RESIDENT DECEDENT
ESTATE OF
SCHEDULE J
BENEFICIARIES
Robert A. Porter
55,! 167-24-2584
04/02/2000
FILE NUMBER
NUMBER
I.
1
NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY
TAXABLE DISTRIBUTIONS (include outright spousal distributions)'
Miriam R. Porter
1001 Alison Avenue
Mechanicsburg, PA 17055
RELATIONSHIP TO DECEDENT
Do Not List Trustee(s)
AMOUNT OR SHARE
OF ESTATE
Spouse
Fahnestock IRA
accounts &
Prudential
annuity
account
ENTER DOLLAR AMTS. FOR DISTRIBUTIONS SHOWN ABOVE ON LN. 15 THRU 17, AS APPROPRIATE, ON REV 1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS,
A. SPOUSAL DISTRIBUTIONS UNDER SEC. 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1 Robert A. Porter Family Trust U/A dated 01/02/1996 - For the 675,000.00
benefit of the surviving spouse during her lifetime; upon death
of spouse, children are beneficiaries; EIN 25-6728024;
c/o Miriam R. Porter, T~ustee
1001 Alison Avenue
Mechanicsburg, PA 17055
Total of Continuation Schedu1e(s) 418,220.98
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART II - ENTER TOTAL NON TAXABLE DISTRIBUTIONS ON LINE 13 OF REV 1500 COVER SHEET $ 1,093,220.98
(If more space is needed, insert additional sheets of the same size)
Copyright (c) 1996 form software only CPSystems, Inc.
Form REV-1513 EX (Rev. '~97)
Estate of: Robert A. Porter
Soc See #: 167-24-2584
Date of Death: 04/02/100
Item
II
Continuation of Schedule J, Part II-A
(Spousal Distributions Under 9113 For Which Election to Tax Not Made)
Description
Amount or
Share of Estate
2
Robert A. Porter Survivor's Trust U/A dated 01/02/1996
for the benefit of the surviving spouse
c/o Miriam R. Porter, Trustee
1001 Alison Avenue
Mechanicsburg, PA 17055
418,220.98
418,220.98
FAHNESTOCK
ESTABLISHED 1881
Fahnestock & Co. Inc.
1015 Mumma Road
Wormleysburg, PA 17043
(71 7) 763.8200
(800) 722.2294
(71 7) 763.] 765 FAX
Members of All
Principal Exchanges
June 29, 2000
Elizabeth S. Eck
James. Smith. Durkin & Connelly
P.O. Box 650
Hershey, PA 17033
Re: Trust Estate of Robert A. Porter
Dear Ms. Eck:
As of April 2, 2000, the value of Robert A. Porter's IRA was:
5,157.53 shares United Income Fund Class A
863.71 shares Chase Vista Growth & Income Fund Class B
$46,882
$34,695
Miriam R. Porter was beneficiary and the IRA was transferred to her.
Sincerely,
~~ ~,~
Marc Moonin
Vice President
MM/bk
cc: Miriam R. Porter
~ Prudential
-
Raymond G. Woods Jr., CFP
First Vice President - Investments
Michael F. Howard, CFP
Financial Advisor
Prudential Securities Incorporated
3 Lemoyne Drive, Lemoyne, PA 17043
Mail: P.O. Box 7
Camp Hill, PA 17001-9852
Tel 717 761-7344 800468-8685
Fax 717 975-8426
Shelly A. Weibley
Sales Asslstant
P. Jay Nevel
Client Service Assistant
April 26, 2000
James, Smith, Durkin & Connelley
Attn Betsy
PO Box 650
Hershey, PA 17033
RE: Estate of Robert Porter
Dear Betsy,
Please be advised that Mr. Porter has an account (044-278383-73) at
Prudential Securities titled: Robert A. Porter & Miriam R. Porter Co-
TTEES for the Living Trust of Robert A. Porter dtd 1/2/96. The
following is a list of securities held in the account as of 4/2/00. Also
listed are the high and low prices as of 3/31/00 and 4/3/00. By the
way, mutual funds are only priced once a day.
QUANTITY DESCRIPTION 3/31/00 4/3/00
420 Keystone Fincl Inc. 18 % high 18 5/16 high
17 5/16 low 17718 low
2236,046 Aim Weingarten 34.23 32.76
531.678 Homestate PA GR Fd A 21. 76 20.15
4154.980 Pru National Muni Fund 14.85 14.85
73.92 Money Market 1.00 1.00
Pru Discovery Select Annuity 16245.94 a/o 3/30/00
If we can assist further please don't hesitate to call.
ci~tJ'
Shelly A. We;bley ~
Sales Assistant
cc Miriam Porter
The information contained herein has been obtained from sources believed reliable but not necessarily
complete and cannot be guaranteed. Any opinions expressed are subject to change without notice. Neither
the information presented nor any opinion expressed constitutes representation by us or a solicitation of
the purchase or sale of any security.
Historical Quotes
Page 1 of 1
"YJ!zHoO!FINANCE 11M
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More Info: Quote I Chart I News I profile I Research I SEC I Msgs I Insider
Historical Quotes
NYSE:8EL
Month Day Year
Start Date: \!:'1_~:.J!f 13:1 10?i
End Date: ~e.r:J~ 1?3 100
~! Daily
C Weekly
C Monthly
C Dividends
Date Open High Low Close Volume Adj. Close*
3-Apr-00 61.75 63.0625 61.0625 63.0625 3,313,000 62.6783
31- Mar-OO 62.50 63.1875 61.125 61.125 4,623,500 60.7526
Download Spreadsheet Format
* adjusted for dividends and splits,please see F AQ.
Questions or Comments?
Copyright IQ 1999 Yahoo! All Rights Reserved.
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Historical chart data and daily updates provided by Commodity Systems, Inc. (CSJ).
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errors or delays in the content, or for any actions taken in reliance thereon.
http://chart.yahoo.comlt?a=03&b=31 &c=00&d=04&e=3&:f-=00&g=d&s=bel&y=0&z=
4/20/00
Sto~ement llate
S~aternenl Sequence No
Bell Atlantic Direct Invest
A Direct Stock Purchase and Share
Ownership Plan
STATEMENT OF ACCOUNT
~
--=== ~
02/01/00
298328-01/012000
10
Account Number 9 5 5 1 - 7 9 3 4
CUlfent Dividend Optiop
PARTIAL DIVIDEND REINVESTMENT
1",111",111,.,.1,1..1,1...11.1.1"",1111".11"",.111,,1,1
**************** 5-DIGIT 17055
-1265-000
ROBERT A PORTER & MIRIAM R
PORTER TRS U/A DTD 1/2/96 ROBERT
A PORTER LIV TR
1001 ALISON AVE
MECHANICSBURG PA 17055-3910
Current
Dividend
Period
Record Date
Payment Dote
Rate
01/10/00
02/01/00
.3850
Total Sllore Position Entitled To Dividend
11,049.311
Total Dividends Eom8d
4,253.98
Reinvested PortIon of Your Dividends
Shores S Dividend
$ Tax Withheld
S Amount Reinves~ed
3,547.311
1,365.71
1,365.7
::AR-TQ-DATE ACTIVllY
tansactlon Dafe Transaction Descrlptlon $ Transaction $ Service $ Net Amount - $ price Per Share Share Transaction Total Shares
Amount Fee Invested Held by the Agen\
1/01/00 ~!lLANCE FORWARD 7,715.31:
2/01/00 INCOME REINVESTMENT 1,365.71 2.00 1,363.71 58.6361 23.257 7,738.561
VISIT OUR WEBSITE A WWW.BELL TLANT ~~.COM/INV ST
vOUR INIT!AL PASSWO 0 TO VIEW YOUR CCOUNT ON LINE IS:
5845672 .
;HARE BALANCES AS OF: 02/04/00 YEAR- TO-DATE INCOME SUMMARY
Shares Held by You Shores Held by the Agent Tofal Shares Market Price Markef Value of Shores $ Total Gress $ Total Taxes $ Y-T-D
Per Share Dividends Reinvested Withheld ServIce f(
7,738.568 /, ~', 58.563 648,442.79 1,365.71 2.0e
3,334 11,072.56~
UPPLEMENTAL PAYMENT AND OTHER TRANSACTION FORM
ACCOUNT NO,:
9551-7934
~
IIll:=:= ~
OBERT A PORTER & MIRIAM R
ORTER TRS U/A DTD 1/2/96 ROBERT
PORTER LIV TR
001 ALISON AVE
ECHANICSBURG PA 17055-3910
Please do not send cash or third party
checks, Make checks or money orders Amount Enclosed
payable to "Bell Atlantic" in U.S. dollars
Account Number shouid be noted on $
check.
M!N $50.00 MAX $200,000.00
Address to be used onfy when sending payments or completing
.. any section of this form. Do not send certificates or ...
correspondence to this address (see reverse).
Make necessary corrections to address above.
Mark box for depOSIt of certificates, withdrawals
or taxpayer ID Number change (see reverse).
...
EOUISERVE, L.P.
P.O. BOX 370042
BOSTON, MA 02241 - 0742
00012480010095517934600005000200000000813
BELeo
Comlllu"it~ err,1iI Uniol1
April 28, 2000
James, Smith, Durkin & Connelly
Post Office Box 650
Hershey, PA 17033
Attn: Elizabeth S. Eck, Paralegal
We have received your letter dated April 26, 2000, concerning the Estate of Robert A. Porter.
We have looked into an account in which the deceased was either prime or joint owner and
have found that we do not have any in his name.
If you have any further questions or concerns, please contact me at 717-720-6260.
Sincerely yours,
~ {; rrJ:Ck{J
Lisa A. Michael
Electronic Services Specialist
BELCO COMMUNITY CREDIT UNION
MAIN OFFICE
403 N. 2nd Street . P.O. Box 82 . Harrisburg. PA 17108 . (717) 23-BELCO
Decedent Estate Information Form
1. Name(s) in which the account ~as held: I\::Jbe-201- POfZ.+F-,.z... 1,,-,; "'S T.r:u )5-\-
Jla ~ 01', (.l.,1 A0\ Fb(2.:h:~(2... TRu:';-t-ee
.
Account Number: 1l4,;),;t")o
Balance as of date of death: 110(.2..; \
2.
3.
~ ~CCX..,
.
Regular Savings:
Christmos Savings:
Money Mgt Savings:
Checking Savings:
Accrued
Balance Dividends
$ ) 3 J/i.ldol$ ~,;)L,
$ 'N)!::" 1$
$ N ) A 1$
$-9, I~}. a'~I$ 0.;'-1
Certificates:
Balance
$ S,.~~8.LL31$
$ 1$
$ 1$
Accrued
Dividends
g,;).. C:.,LI
Certificate
Number
1$ C)~30~
1$
1$
4.
Date the account was initiated: Dee ~o JQ(,6
,
5.
Name(s) in which Safe Deposit Box was held: RnhF(:J..+ J)ClP..:+FI<..
(II, O-.i Am Pnr- tef2,
6.
Date the box was initially rented: r:-c:n. ,;;;,?,. JCAa
7. Branch address at which the box is located: CAfYlf' H; 11 PX2-A" ,,)-,
8. Loan Information
o. Unsecured loans:
b. Secured Consumer
loans:
c. Mortgage loans:
9. Miscellaneous:
Accrued lnt Per Diem lnt
$ NIp, I I
$ I I
$ I I
$ /-J)Pt I I
.
$ I I
$ I I
$ l--J)Pr I I
,
$ I I
$ I I
1..-\ !\"j L-
\V
3JeeJ
.,i,"i. '~'i ~\tti~i~;
',,:-. ,. -,':,:'\ ~.-' C C U III ;;' ,- r'.~,
~ '95 JR/1
::11..c.... inleT/lure I made the ~day of January,
our Lord one thousand nine hundred and ninety-six
:1 Pi'] 1 10
in the year of
(1996) ,
Bel-uleen
Robert A. Porter and Miriam R. Porter, husband and wife, of
Cumberland county, Pennsylvania, Grantors
and
Robert A. Porter and Miriam R. Porter, Trustees, or their
successors in trust, under the Robert A. Porter Living Trust
dated January 3, 1996 and any amendments thereto and Miriam
R. Porter and Robert A. Porter, Trustees, or their
successors in trust, under the Miriam R. Porter Living Trust
dated January 3, 1996 and any amendments thereto, as Tenants
in Common, Grantees
1A~lne6&ell.., That the said Grantors, for and in
consideration of the sum of One and NO/100 ($1.00) Dollars,
lawful money of the United states of America, unto them well and
truly paid by the said Grantees at or before the sealing and
delivery hereof, the receipt whereof is hereby acknowledged, have
granted, bargained and sold, released and confirmed, and by these
presents do grant, bargain and sell, release and confirm unto the
said Grantees, their heirs, personal representatives and assigns.
ALL THAT CERTAIN piece or parcel of land situate in the
Borough of Mechanicsburg, County of Cumberland and state. of
Pennsylvania, being more particularly bounded and described on
Exhibit "A" attached hereto:
BEING the same premises which William A. Knaub and Betty L.
Knaub, husband and wife, by Deed dated and recorded April 22,
1966 in Deed Book Y-21, Page 318, in the Office of the Recorder
of Deeds in and for Cumberland County, Pennsylvania, granted and
conveyed unto Robert A. Porter and Miriam R. Porter, husband and
wife, the Grantors herein.
UNDER AND SUBJECT to all restrictions, easements, covenants,
conditions and agreements of record.
TOGETHER with all and singular the buildings and
improvements, ways, streets, alleys, passages, waters, water-
courses, rights, liberties, privileges, hereditament.s and
BOOK iaJ pm 80i
appurtenances, whatsoever unto the hereby granted premises
belonging, or in any wise appertaining, and the reversions and
remainders, rents, issues and profits thereof; and all the
estate, right, title interest, property, claim and demand
whatsoever of them, the said Grantors, as well at law as in
equity, of, in and to the same.
TO HAVE AND TO HOLD the said lot or piece of ground above
described, with the messuage or tenement thereon erected,
hereditaments and premises hereby granted, or mentioned and
intended so to be, with the appurtenances, un'to the said
Grantees, their heirs, personal representatives assigns, to and
for the only proper use and behoof of the said Grantees, their
heirs, personal representatives and assigns, forever.
AND the said Grantors, for themselves, their heirs, personal
representatives and assigns, do covenant, promise and agree, to
and with the said Grantees, their heirs, personal representatives
and assigns, by these presents, that they, the said Grantors,
their heirs, personal representatives and assigns, all and
singular the hereditaments and premises hereby granted or
mentioned and intended so to be, with the appurtenances, unto the
said Grantees, their heirs, personal representatives and assigns,
against them, the said Grantors, their heirs, personal
representatives and assigns, and against all and every person and
persons whomsoever lawfully claiming or to claim the same or any
part thereof, by, from or under him, her, them or any of them,
shall and will, Subject as aforesaid, WARRANT and forever DEFEND.
.Jk wi{IU2JJ wh.ereol, the Grantors have hereunto set their
hands and seals. Dated the day and year first above written.
Sealed and Delivered
in t~epresen~,Of:
(~C;' ::
-/u ~) &~'v'~
/U/1fd. IZ~
Robert A. Porter
(SEAL)
~:<>~ R p~
Miriam R. Porter
(SEAL)
-2-
-4 <l3 P',G,t, 802
[lOOK L.... "
Certificate oll~e!o;l.,nce
I hereby certify that the precise residence of the Grantees
herein is as follows:
c/o Robert A. Porter and
1001 Alison Avenue,
Miriam R. Porter,
Mechanicsburg, PA
o
Trustees
17055
At
Aclmow!e4emenl
COMMONWEALTH OF PENNSYLVANIA
55
COUNTY OF DAUPHIN
On this, the ~~~ day of January, before me, a Notary Public
in and for the Commonwealth of Pennsylvania, the undersigned
officer, personally appeared Robert A. Porter and Miriam R.
Porter, husband and wife, known to me (or satisfactorily proven)
to be the persons whose names are subscribed to the within
instrument and acknowledged that they executed the same for the
purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official
'-' 'Rri:.;'J..."
....ii:lll.t.,'1!l!' ',u./.<
~,,~.'~~:6 ~:,i~l:~~'C'2!'aO :~4:. i ~?,;~..>.
;,,'~'''''' '':''''y ~.,..!.'d."') o.~. J..... """",' .. .
,':,~:i~'.:t.. t'.~~ l.;r,!...,.~~-t:-
Itt{J~;"v'~~~'~)r}
,,,,,,,0- ,',"":r--'
-."';'M ~,_, ~..:t:;.~'_""'" .
.'_~.<'> ',,! 1/A""'-.,'..:."
;..iIi~~rr:ll'-" '-t:,f.,. _-,.~;o. .
.' '(C'Mlftr~ONll'EALTH OF PENNSYLVANIA
eM' 7t' ~?_ L>-'d<A /
NotarY..A"UblV
NOTARIAL SEAL .-
PAULA N, ANGLEMEYER/Notary !'Ublic
Hummelstown, Dauphin County
My Commission Expires May 17,1999
ss:
COUNTY OF CUMBERLAND
RECORDED in the Office of the Recorder
Cumberland County, in Record Book \35
of DeedSrjin and for
, Page ';> 0 I .
c
,~
D <ED:; .. .... ii4;~~
E ~::"-;C'i1\~'1~-\":""I.'-'~"'~,,"'.'1"'~~~1"~'
,.~i
WgNESS m~ h. and
0'11, 1 "\ ~I
and official seal this
vjij3..e-c7
-3-
BOOK :lL33 PAGE 8C3
,
EXHIB!T lHAU
ALL that bertain piebe or parcel of land situate in the Borough
of Mechanicsburg, County of Cumberland and Sta te of Pennsyl van ia I
bounded and described as follows, to wit,
BEGINNING at a point on the northern line of Alison Avenue,
said point being at th~ dividing line between Lots ~os. 20 and 21
on the hereinafter mentioned Plan of Lots; thence along the northern
line of Alison Avenue on a curve to the right, having a radius of
one hundred fifty (150) feet, an arc length of seventy-four and
sixty-one hundredths (74.611 feet to a point at the dividing line
between Lots Nos. 20 ahd'1? on said plan'of'lots; thence along said
dividing line, North 24 degrees 52 minutes East, two hundred forty-
six Bnd nine hundredths (246.09) feet to a point; thence North 22
degrees 12 minutes West, forty-seven and fifty-five hundredths
(47.~5) feet to a point; thence South 66 degrees 22 minutes West,
one Gundred eighty-five and one hundredths (185.01) feet to a point
at the dividing line between Lots Nos. 20 and 21 on said plan; thence
along said dividing 11ne South OJ degrees 38 minutes East, one hundred
seventy-nine' and ninety hundredt.hs (179.90) feet to a point on the
northern li~~ of Alison AYenue, the place of BEGINNING.
, l'"
BEING Lot No. 20 on Plan No. 1 of Heritage Acres, said plan
being recorded in the Cumberland County Recorder's Office in Plan
Book 17, Page 60.
BOOK 133 P/'~E 804
Investillg
for the
21st
Century
For Reporting Period 01101100 thru 03131/00
~ YOUR ACCOUNT NUMBER IS: 5001427474 I
-. " DETAIL ACCOUNT ACTIVITY
.. . ...
EATON VANCE PA MUNl FUND - CLASS B
(FUND 037)
Dividend Distribution: Reinvest Non-Certificate Shares: 1l6.087
Cap Gain Distribution: Reinvest Certificate Shares: 9OO.MIl
Post Trade TYf€ of Shares this Share Dollar Share
Date Date 'Transaction Transaction Price Amount Balance
BALANCE FORWARO 1,062.843
01/18/0001/16/00 DIVIDEND - REINVEST 4.942 $9.60 $47.44 1,067.785
02/15/00 02/15/00 DIVIDEND - REINVEST 4.083 $9.60 $39.20 1,071.868
03/15/00 03/15/00 DIVIDENO - REINVEST 4.219 $9.68 $40.84 1,076.087
CLOSING 6ALANCE 1 )076.087
The following dividends were paid to your account for the quarter ended March 31, 2000:
January 18, 2000 February 15, 2000 Maf'ch 15, 2000
$0.045 $0.037 $0.038
For 34 days . . For 28 days For 29 days
. . YEAR-TO-DATE FINANCIAL FUND SUMMARY
[)iv idiulds &
Total Dividends ShortMterm long-term Federal Income Tax Withheld Back-end
CaoitalGa.ins Caoftal Gains CaoiUtl Gains BackuP NRA TaX Safes Charae
-,--,- $127.48 $127.48 $0.00 $0.00 $0.00 $0.00
.~.~..,_..,"'~---=O:~
_._..."",~.-""..;.~-",.,..t""~'''-
~..~~J\"-Tr<J,~'--
- -
YTD CONSOLIDATED FINANCIAL SUMMARY
I YOURi\CCOUNTNUMl3I':RJS:5001427174 i
.. ... -.---. .-::":::='::'cY6lti'-AccotiJit Market Value as of January 01, 2000:
--""=. _-'::~: J:=:':-:::;:}'-'Il~ Account Market Value as of March 31, 2000:
..,-""" .....
$10,309.58
$10,513.37
... (.::_=~
,
Tofat.O{v}dends
Cttt:1i t-8 r~G.afns
_ _. _.$127.48
Dividends&:
Short-term
Capital Gains
$127.48
Long- term
CaPital Gains
$0_00
Federal Income
Backup
$0.00
Tax Withheld
NRA
$0.00
Back~end
Stiles CH~rQe
-.$0_00
!hiS~~:!~:'.Yt)iJ-~,-au~rt;e(,lystatement fOr- t,heperiod of January 1, 2000 to March 31, 2000.
~a~on_,,~~n~_~:~~ow _'9ffe:~saccount _access via the internet. First time users need to call our Transfer
1\~e.n~-_~~_:.!~~~,~.~2~~-:1~~~_to ac~i".at~ -~heir <lcco~ntand obtain a temporary password~ Visit our
webslte:3twww.eatonvance.com for More information.
, FUND PORTFOLIO SUMMARY AS OF MARCH 31 2000
[i'lllul.Ntiihe
EATON VANCE PA MUNI FUND - CLASS B
Current
Shares Oillhed. Shw'e Price
C1 ,076.087 ') $9.77
Cli.fre/it
.Viilile
$10,513.37
Fund shares are not insured by the FDIC and are not deposits or other
obligations of, or guaranteed by, any bank or depository institution. Shares
are subject to. investment risks, inclllding possible lass af principal
invested.
1~~jllnl~~I~ll~~I~'I~JU I~
naSA
Edward J one~
42 East Main Street
Mechanicsburg, P A 17055
(717) 795-8440
Mark R. Snyder
Investment Representative
EdwardJones
Elizabeth S. Eck, Paralegal
134 Sipe Avenue
Hummelstown, Pa. 17036
Dear Elizabeth:
Per your request, we are writing to provide valuation information for the
following securities belonging to Robert A. Porter Trust, account #270-06778.
Quantity
Descript.ion
Value
Per Item
Total
Value
150.325
15,000
10,000
VanKampen High Yield Muni Fund
Cumberland Va11y Sch Dist Bond
Montgomery County Pa. Bond
$ 10.73
92.4569
87.9763
$ 1,612.99
13,868.54
8,797.63
The values were obtained from an outside historical pricing service and while
we believe that they are reliable, we do not guarantee their accuracy.
The listed values are as of April 2, 2000, the day that Robert A. Porter
passed away. The values were obtained from an outside historical pricing
service and while we believe that they are reliable, we do not guarantee
their accuracy. Please let us know if you need any other information or
assistance.
Sincerely, Q
}(\r ) <1\ch
Ilo.J~K .~
Mark t Snyder
Investment Representative
EdwardJones
M,y 02, 2000
Historical Quote
Symbol Description/T ype Date Value
ACTGX V AN KAMPEN TAX EXEMPT TR HI YLD MUN PT
Adjusted Closing Price 03/31/2000 S 10. 7300
Unadjusted Closing Price 03/31/2000 $10.7300
230822MB 1 CUMBERLAND VALLEY PA SCH DIST
Best Adjusted Price 03/31/2000 $92.4569
Unadjusted Closing Price 03/31/2000 $92.4569
613611AAO MONTGOMERY CNTY PA INDL DV AU WTR FAC RV
Best Adjusted Price 03/31/2000 $87.9763
Unadjusted Closing Price 03/31/2000 $87.9763
Page 1 This informatIon is for tax and estate purposes only and while believed accurate, is not guaranteed. There is no warranty
that any trades were or would have been executed at these prices on the dates given.
~ Prudential
-
Raymond G. Woods Jr., CFP
First Vfce President - Investments
Shelly A. Weibley
Sal es Ass;stant
P. Jay Nevel
CUent Service Ass;stant
Prudential Securities Incorporated
3 Lemoyne Drive, Lemayne. PA 17043
Mail: P.O. 80x 7
Camp Hill, PA 17001-9852
TeI717761-7344 800468-8685
Fax 717 975-8426
Michael F. Howard, CFP
Ffnandaf Adwsor
April 26, 2000
James, Smith, Durkin & Connelley
Attn Betsy
PO Box 650
Hershey, PA 17033
RE: Estate of Robert Porter
Dear Betsy,
Please be advised that Mr. Porter has an account (044-278383-73) at
Prudential Securities titled: Robert A. Porter & Miriam R. Porter Co-
TrEES for the Living Trust of Robert A. Porter dtd 1/2/96. The
following is a list of securities held in the account as of 4/2/00. Also
listed are the high and low prices as of 3/31/00 and 4/3/00. By the
way, mutual funds are only priced once a day.
QUANTITY DESCRIPTION 3/31/00 4/3/00
420 Keystone Fincl Inc. 18 3f4 high 18 5/16 high
17 S/16 low 177/8 low
2236.046 Aim Weingarten 34.23 32.76
531.678 Homestate PA GR Fd A 21. 76 20.15
4154.980 Pru National Muni Fund 14.85 14.85
73.92 Money Market 1.00 1.00
Pru Discovery Select Annuity 16245.94 a/o 3/30/00
If we can assist further please don't hesitate to call.
~d
Shelly A. Welbley ~
Sales Assistant
cc Miriam Porter
The information contained herein has been obtained from sources believed reliable but not necessarily
complete and cannot be guaranteed. Any opinions expressed are subject to change without notice. Neither
the information presented nor any opinion expressed constitutes representation by us or a solicitation of
the purchase or sale of any security.
Historical Quotes
Page 1 of1
"YAHOO!FINANCE~
Home - Yahoo! - Help
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ruCK HERE
More Info: Quote I Chart I News I Profile I Research I SEC I Msgs I Insider
Historical Quotes
NYSE:SBC
Month Day Year
Start Date: Mar 1311 100!
End Date: ~2..':JI!J 103 100!
(0) Daily
C Weekly
C Monthly
C Dividends
Date Open High Low Close Volume Adj. Close*
3-Apr-00 42.50 44.875 42.4375 44.75 7,712,000 44.5055
31-Mar-00 42.50 43 42 42.125 7,637,900 41.8949
Download Spreadsheet Format
* adjusted for dividends and splits,please see F AQ.
. Questions or Comments?
Copyright <!;) 1999 Yahoo! All Rights Reserved.
See our Important Disclaimers and LeJ<al Information.
Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI).
Data and information is provided for informational purposes only, and is not intended for trading
purposes. Neither Yahoo nor any of its data or content providers (such as CSI) shall be liable for any
errors or delays in the content, or for any actions taken in reliance thereon.
http://chart. yahoo.com/t?a=03&b= 31 &c=00&d=04&e=03&FOO&g=d&s=sbc&y=0&z=bel
4/20100
.
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INDIVIDUAL TIMESHARE UNIT REPORT
Owner Robert A. & Miriam R. Porter (Trustees)
Property Address 615 N. Ocean Blvd.
City Pompano Beach State
Week# 3 Unit# 245
Property Name Sea Garden Beach & Tennis
FL
Type fixed
Zip 33062 Country US
Season I Color red
Every Year Use ~
Alternate 0
Even 0
Odd 0
Deeded Property ~
PROPERTY RIGHTS
Leasehold 0
Lease Depreciation 0
Years Remaining_
Amenities
Condition I Rating
Ou Property Nearby
Beacb ~ 0
Boating ~ 0
Golf 0 ~
Horseback 0 0
Restaurant ~ 0
Lake 0 0
Pool ~ 0
T eonis ~ 0
Whirl/not Tnh ~ 0
Excellent Good Fair
Resort Overall [>?J 0 0
Unit Interior [>?J 0 0
RC.L Rating Gold frown ~ STD II
LL Rating Five Star 0 STD [J
RC.I. ~ LI. 0 Other 0
I~--
Unit Details
1 0
2 Ii1I
3 0
1 Ii1I
2 0
3 0 Bathrooms
Comment
The subject includes a Santa Barbara Yacht Club Membership. . The comparable
properties are adjusted so they have ALL the pertinent and physical characteristics of the
subject property; on this basis, the adjusted prices ofthe comparables infer the sale price
of the subject property if it were sold today. No deferred maintenance noted, subject
property is maintained by management.
,) --j 1 (
1rJ"'r; K.Ob7 " N, ""'NI
COMPARATIVE MARKET ANALYSIS
.
,
t,
, ~'
,. .~.
0(.,-
,.L
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'11.r
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SOLD PROPERTIES
PROPERTY
BED SPECIAL FEATURES ~ LOCK I_SOLD PRICE
ROOMS BATHS OUT
I 2 red season / color $11,750
I 2 red season I color $12,125
I 2 red season / color _I $12,500
week 2
week 3
week 5
ADDITIONAL COMMENTS
The original purchase price of most timeshare units, purchased directly from the developer or
marketing company, includes the cost of marketing. This cost to the developer or marketing
company can range from thirty percent (30%) to seventy percent (70%) of the purchase price. This
price includes the cost of gifts and other promotions used to entice prospective purchasers to view
the timeshare development. This appraisal utilizes the resale market to establish the market value of
the timeshare unit I week. The developers cost of marketing is extremely high (or timeshare real
estate. There(ore this cost is not incorporated in the resale market value.
PRICE RANGE IDGHEST
$12,500
PRICE RANGE LOWEST $11,750
The resale comparison approacb is considered tbe most reliable indicator of value as it reflects tbe
actions of buyers and sellers in the market place. Therefore, it had been given the majority of weight in
determining tbe rmal value estimate.
I (WE) ASSESS IliA T, THE CURRENT lV..ARKET VALliE, AS DOCUMENTED OF THE REAL
PROPERTY, AS OF 4/6/00 WHICH IS THE DATE OF THE INSPECTION AND
THE EFFECTIVE DATE OF THIS REPORT, TO BE """".-$12'~f2~; (U.S. FUNDS).
~1'b
Date report signed APR 0 72000
Signature
Name
o 9 0 9 PG n l.~ 8 9
009::"-61.
Contract No. 26-9529905 Sales Price: 7.000.00
This Instrument Prepared by: FAIRFIELD COMMUNITIES. INC.
Little Rock, Arkansas
PH"'SEIf
Corp., rart.,
Trllst,orSOleProp.
lK.UDI.PhaseVI
FAIRFIELD WILLIAMSBURG AT KINGSGATE
A Virginia Time-Share Estate Project
DEED OF CONVEYANCE AND AFFIDAVIT
THIS DEED and Affidavit, made this 15th day of Julv , 19 ~, by and between Fairfield Communities, Inc.,
a Delaware Corporation, as beneficial owner, hereinafter either the "'Grantor" or "Party of the First Part", Lawyers Title
Insurance Corporation, A Virginia corporation, hereinafter the "Party of the Second Part"', nominee for Fairfield
~ift.e~ug~~Ti~g ~ffmt",D~~~"ir\ M83il.MP'm~rIf~and
= Trust & Ml.rJ.all j{ Klrter & fttEii A ~~, or = s~ ill =, ~ rre
l{ R:lrter Livin:r Trust cErt:e:ll/J/~b & any tteretD, as ill u::nm:n. GJ:antEeS
hereinafter the "'Grantee"', whose current address or current business address) is
100 Ii on e. echa 'c bu 17
WITNESSETH
That the Grantor, in consideration ofTen Dollars ($10,00) and other good and valuable consideration to it in hand paid
by the Grantees, the receipt of which is hereby acknowledged, has. bargained sold, and by these presents, does grant, bargain,
sell and convey pursuant to the terms and conditions of the Fairshare Vacation Plan Use Management Trust Agreement rTrust
Agreement"') recorded in Deed Book 620, at Page 260, et'seq. as may be amended and/or restated unto the aforesaid Grantees,
following described time-share estate at that certain real estate time-share project known as Fairfield Williamsburg
at Kingsgate, York County, Vtrginia, to wit:
Ali that certain
84,0.0.0 /60,236,000 undivided fee simple absolute intereslin, Units 10'1,10.2,10.3,201,202 and 203 as tenants in common
with the other undivided interest owners of said Units in Building 24, which undivided interest has been assigned
84,000 Fairshare Plus Points symbolic of said property interest;
in Fairfield Williamsburg at Kingsgate Time-Share Project - Phase Five
as such time-share estate is defined in the "'Project and Time.Share Instrument for Fairfield Williamsburg at Kings~ate'"
dated March 21, 1990, recorded March 27, 1990, in the Clerk's Office of the Circuit Court ofY ork County. Virgmta, in Deed
Book 578 at Page 169, as may be amended; and as such unit is depicted on plat entitled "Plat showing Farrfield Williamsburg
@ Kingsgate Section III Phase 5' dated May 19, 1994, recorded in Piat Book 12 at Page 100.
.BEIN G as to Phase Five and the time-share units and building aforesaid of which it is a part, a portion of the same real estate
conveyed unto Fairfield Communities, Inc. by Warranty Deed from W.H. Burruss, and wife, Sharon C. Burruss, Grantor,
dated March 21, 1990. recorded March 27,1990, in the Oerk's Office of the Circuit Court of York County, Virginia,
in Deed Book 578 at Page 163. c
This conveyance is made subject to covenants, res'trictions and easements of record applicable to and legally binding upon the
land hereby conveyed, especially the previous assignment of use, possessory and ocupancy rights to F airshare Vacation
Owners Association, Trustee, recorded in Deed'Book 831, at Page 252, as may be amended and/or restated.
The streets, yards, walkways, and all real estate within each phase, less all time-share estates therein, a5 shown on Plat relative
to each phase, will, no later than the termination of~e Developer Control Period, (as that term is deftned in the Project and
Time-Share Instrument and the Virginia Real Est<;lte,Tune-Share Act) be owned of record by The Fairfield Klngsgate
Property Owners Association, Inc., a Virginia Nonstock Corporation, and will not, at such time, belong to Grantor.
As to such streets, yards, walkways, etc., Grantor and Party of the Second Part make no warranties or representations
whatsoever.
This conveyance is subject to and by accepting this Deed the Grantees do hereby agree to assume and/or abide by
the following:
1. Taxes for the current year and subsequent years;
2. Conditions, restrictions, limitations, reservations, easements, and other matters of record in the Oerk's Office of the
Circuit Court of York County, Virginia; and
3. The Project and Time-Share Instrument as originally executed and" the Fairshare Vacation Plan Use Management
Trust Agreement and Use Restriction as might be amended and/or restated from time to time,
The Grantor covenants that it is seized of the time-share estate hereby conveyed and has the right to convey the same
unto the Grantees in fee simple; that it has done no act to encumber said Titne.Share estate; that the Grantees shall have
quiet possession of said time-share estate, free from encumbrances; and that it, the said Grantor, will execute such further
assurance of the title as may be requisite. ,
The Party of the Second Part does hereby transfer, convey, and quitclaim unto the said grantees and their successors and
assigns forever, all of its rights, title and interest, equity and estate in and to the time-share estate hereby conveyed.
Page 1
Form:WI00897/96
to.. n ;:. (\ iJ'{"");! 0.0
; f """ i I ..r. I' . ~ , I .,' 'I
W .../ '...) j t.: ,~/ ?r __, ~
In executing this Deed and Affidavit, Kim ~ompson I Attorney-in-Fact for said Party of the Second Part, who being first
duly sworn, makes oath and says hereby; Ihat s)he has not, at the time of executing this Deed and Affidavit, pursuant to a
power of attorney given by Lawyers Title Insurance Corporation, A Virginia corporation, recorded on June 14, 1995 in Deed
Book 849. Page 224 in the Clerk's Office of the Circuit Court for the County of Yark, Virginia, received actual knowledge
or actual notice of the revocation or termination of said power of attorney.
The plural number as used herein shall equally include the singular and vice versa. The masculine or feminine gender as
used herein shall equally include the neuter.
IN TESTIMONY WHEREOF, Grantor has caused its name to be signed by its duly authorized officers. In executing this
Deed, Grantor hereby authorizes and requests Party of the Second Part by its Attomey.in-Fact to execute this Deed for
the purpose of conveying legal title to the above described time-share estate.
I, the undersigned Notary Public, in and for the jurisdiction aforesaid, do hereby certify that Kim Thompson and
Sharon Ferguson Asst.V.P.jDir.ofTitle and Assistant Secretary respectively of Fairfield Communities. Inc., whose names are
signed as such to the foregoing Deed and Affidavit bearing date of the ...1.5th.. day of .Tllly , 19 --.26.-,
have each acknowledged the same before me in my jurisdiction aforesaid.
_."~"J""'.'
Given under my hand this 1 ~th !1...,._ ~ ..,
."",,'1(;::- . ,,'.
.' 0~' /(. '.
l~ (tP"'~
! ~02~J?1'
\ PUB\..\C ~j
) ..~.,
)SS ~ ,
. '. '" ~.,
~ "'" l'://r] C,... \. ~..
) .~. uv ..Q
....1.......
Subscribed and sworn to by Kim Thomoson , At orney-in~Fact for Lawyers Title Insurance Corporation, nominee, that
hisJher statements made herein are true and correct to the best of hisJher knowledge and belief; that (s)he has signed the foregoing
Deed and Affidavit, bearing the date of the 15"th day of .Tllly . 19 9(\ . and
has acknowledged the same before me in my jurisdiction Q{ifnN~'
... .....
Given under my hand this 15th ~.,.. l. '"
...~' ('.
l~ J1"'~
{ ~O.:!.~RY -;
\. p, 'S\..\ C ,~..j
Notarial Seal ~ V g:'.
........ ~....
VIRGINIA: County of York to-wit: -'. :Sir! ~ ~..., 1\
In the Derk's Office of the Circuit Court for the Cou::y'M'~:ft'\~'~ _ day of T\ J ~Cl ~
19 g,lo . This deed was presented with the certificate annexed and admitted to record at t()..~-
o'clock ~ .M. The taxes imposed by SecL 58.54 and 58.54,1 of the Code of Va, have been paid.
STATETAX$~ -0- LOCAL TAX $ ~ -0- SELLER'S TAX $
CORPORATE SEAL
"
ATTEST;
\ ,;',...----
\ .) ..':~\.-30"-',-~,.....\
.....J Assistant Secret~
i~ o,J--.
';
", }
STATE OF ARKANSAS )
) SS,
COUNTY OF PULASKI )
My Commission Expires:
08111/05
Notarial Seal
STATE OF ARKANSAS
COUNTY OF PULASKI
My Commission Expires:
08111105
RETURN THIS DEED TO:
Francis T. Eck. Attorney at Law
16 South Second Street
Richmond. VA 23219
1-(804)-788-4457
FAIRFIELD COMMUNITlES,INC.
Gra~
By: . ,~orn
Asst.V.P.jDir, of Title
LAWYERS TITLE INSURANCE
CO~ION' Nominee.
By: \,~
Attorney-tn- act
Theresa L. Mills
Notary Public
JL40~ J'I)lJb
Theresa L. Mills
Notary Public
~-o-
Teste: Nancy B. Kane. Oerk
~OcJtO'1 ~~^wA.kL-
Deputy Clerk
Inventory 1
Inventory Detail
Redemption Date: 4/2000
Issue Yield Next Final
Serial Number Denom. Series Date Value Interest To Date Accrual Maturity
Q6417990009E $25 E 9/1970 $136.05 $117.30 6.87% 7/2000 9/2000
Q6417990010E $25 E 2/1971 $118.96 $100.21 6.51% 6/2000 2/2001
Q6417990008E $25 E 7/1971 $116.20 $97.45 6.54% 5/2000 7/2001
L2224972010E $50 E 12/1971 $233.42 $195.92 6.56% 10/2000 12/2001
L2224972011E $50 E 5/1972 $231.62 $194.12 6.65% 9/2000 5/2002
L2224972001E $50 E 9/1972 $230.44 $192.94 6.75% 7/2000 9/2002
L2224972009E $50 E 1/1973 $228.58 $191.08 6.85% 5/2000 1/2003
L2224972014E $50 E 4/1973 $229.16 $191.66 6.86% 8/2000 4/2003
L2224972012E $50 E 8/1973 $227.86 $190.36 6.97% 6/2000 8/2003
L2224972013E $50 E 12/1973 $219.32 $181.82 6.91% 6/2000 12/2003
L2224972000E $50 E 4/1974 $219.32 $181. 82 6.91% 10/2000 4/2004
L2224972007E $50 E 6/1974 $217.58 $180.08 7.02% 6/2000 6/2004
L2224972002E $50 E 8/1974 $217.58 $180.08 7.02% 8/2000 8/2004
L2224972024E $50 E 10/1974 $217.58 $180.08 7.02% 10/2000 10/2004
L2224972005E $50 E 12/1974 $215.90 $178.40 7.13% 6/2000 12/2004
L2224972006E $50 E 2/1975 $215.86 $178.36 7.13% 8/2000 2/2005
L222~972020E $50 E 4/1975 $215.86 $178.36 7.13% 10/2000 4/2005
L2224972004E $50 E 6/1975 $212.10 $174.60 7.20% 6/2000 6/2005
L2224972003E $50 E 7/1975 $212.08 $174.58 7.20% 7/2000 7/2005
L2224972008E $50 E 8/1975 $212.08 $174.58 7.20% 8/2000 8/2005
L2224972017E $50 E 9/1975 $212.08 $174.58 7.20% 9/2000 9/2005
L2224972025E $50 E 10/1975 $212.08 $174.58 7.20% 10/2000 10/2005
L2224972019E $50 E 11/1975 $207.92 $170.42 7.27% 5/2000 11/2005
L2224972022E $50 E 12/1975 $208.40 $170.90 7.28% 6/2000 12/2005
L2224972018E $50 E 1/1976 $208.42 $170.92 7.28% 7/2000 1/2006
L2224972023E $50 E 2/1976 $208.42 $170.92 7.28% 8/2000 2/2006
L2224972016E $50 E 3/1976 $208.42 $170.92 7.28% 9/2000 3/2006
L2224972015E: $50 E 4/1976 $208.42 $170.92 7.28% 10/2000 4/2006
L2224972026E $50 E 5/1976 $204. 26 $166.76 7.34% 5/2000 5/2006
L2224972021E: $50 E 6/1976 $204.72 $167.22 7.35% 6/2000 6/2006
C2116396339E $100 E 7/1976 $409.36 $334.36 7.35% 7/2000 7/2006
C2116396336E $100 E 8/1976 $409.36 $334.36 7.35% 8/2000 8/2006
C2116396332E $100 E 9/1976 $409.36 $334.36 7.35% 9/2000 9/2006
C2116396333E $100 E 10/1976 $409.36 $334.36 7.35% 10/2000 10/2006
C2116396341E $100 E 11/1976 $401.32 $326.32 7.43% 5/2000 11/2006
C2116396340E $100 E 12/1976 $402.48 $327.48 7.44% 6/2000 12/2006
C2116396353E $100 E 1/1977 $402.48 $327.48 7.44% 7/2000 1/2007
C2116396344E $100 E 2/1977 $402.48 $327.48 7.44% 8/2000 2/2007
C2116396347E $100 E 3/1977 $402.48 $327.48 7.44% 9/2000 3/2007
C2116396352E $100 E 4/1977 $402.48 $327.48 7.44% 10/2000 4/2007
C2116396342E $100 E 5/1977 $394.60 $319.60 7.52% 5/2000 5/2007
C2116396348E: $100 E: 6/1977 $395.40 $320.40 7.53% 6/2000 6/2007
C2116396349E: $100 E 7/1977 $395.36 $320.36 7.53% 7/2000 7/2007
C2116396346E $100 E 8/1977 $395.36 $320.36 7.53% 8/2000 8/2007
C2116396361E $100 E 9/1977 $395.36 $320.36 7.53% 9/2000 9/2007
C2116396350E $100 E 10/1977 $395.36 $320.36 7.53% 10/2000 10/2007
C211639635lE: $100 E 11/1977 $352.00 $277.00 7.15% 5/2000 11/2007
C2116396362E $100 E 12/1977 $352.96 $277.96 7.17% 6/2000 12/2007
C2116396358E: $100 E 1/1978 $352.96 $277.96 7.17% 7/2000 1/2008
C2116396357E $100 E 2/1978 $352.96 $277.96 7.17% 8/2000 2/2008
C2116396374E $100 E 3/1978 $322.32 $247.32 6.74% 9/2000 3/2008
C2116396334E $100 E 411978 $322.32 $247.32 6.74 % 10/2000 4/2008
C2116396331E $100 E 5/1978 $304.72 $229.72 6.63% 5/2000 5/2008
C2116396335E: $100 E 611978 $305.48 $230.48 6.64 % 6/2000 6/2008
1 = Not eligible for payment (purchase price) 2 = Matured (exchangable for HH) 3 = Matured (not exchangable)
. = Possibly eligible for U.S. Savings Bond Education Benefit Program.
See footnotes on Inventory Totais page.
1
Inventory 1
Inventory Detail (continued)
Redemption Date: 4/2000
Issue Yie~d Next Final
Serial Number Denom. Series Date Value Interest To Date Accrual Maturity
C2116396337E $100 E 7/1978 $305.56 $230.56 6.64% 7/2000 7/2008
C2116396338E $100 E 8/1978 $305.56 $230.56 6.64% 8/2000 8/2008
C2116396343E $100 E 9/1978 $305.56 $230.56 6.64% 9/2000 9/2008
C2116396345E $100 E 10/1978 $305.56 $230.56 6.64% 10/2000 10/2008
C2116396355E $100 E 11/1978 $302.40 $227.40 6.75% 5/2000 11/2008
C2116396375E $100 E 12/1978 $303.20 $228.20 6.76% 6/2000 12/2008
C2116396364E $100 E 1/1979 $303.28 $228.28 6.77% 7/2000 1/2009
C2116396365E $100 E 2/1979 $303.28 $228.28 6.77% 8/2000 2/2009
C2116396366E $100 E 3/1979 $303.28 $228.28 6.77% 9/2000 3/2009
C2116396367E $100 E 4/1979 $303.28 $228.28 6.77% 10/2000 4/2009
C2116396368E $100 E 5/1979 $300.20 $225.20 6.88% 5/2000 5/2009
C2116396369E $100 E 6/1979 $300.88 $225.88 6.89% 6/2000 6/2009
C2116396359E $100 E 7/1979 $300.88 $225.88 6.89% 7/2000 7/2009
C2116396354E $100 E 8/1979 $300.88 $225.88 6.89% 8/2000 8/2009
C2116396372E $100 E 9/1979 $300.88 $225.88 6.89% 9/2000 9/2009
C2116396363E $100 E 10/1979 $300.88 $225.88 6.89% 10/2000 10/2009
C2116396370E $100 E 11/1979 $297.76 $222.76 7.01% 5/2000 11/2009
C2116396356E $100 E 12/1979 $297.76 $222.76 7.01% 6/2000 12/2009
C2116396360E $100 E 1/1980 $297.76 $222.76 7.01% 7/2000 1/2010
C2116396376E $100 E 2/1980 $297.76 $222.76 7.01% 8/2000 2/2010
C2116396378E $100 E 3/1980 $297.76 $222.76 7.01% 9/2000 3/2010
C2116396371E $100 E 4/1980 $297.76 $222.76 7.01% 10/2000 4/2010
C2116396373E $100 E 5/1980 $294.92 $219.92 7.15% 5/2000 5/2010
C2116396377E $100 E 6/1980 $294.92 $219.92 7.15% 6/2000 6/2010
C567279002EE $100 EE 7/1980 $214.48 $164.48 7.61% 7/2000 7/2010
C567279004EE $100 EE 8/1980 $214.48 $164.48 7.61% 8/2000 8/2010
C567279998EE $100 EE 8/1980 $214.48 $164.48 7.61% 8/2000 8/2010
C567279996EE $100 EE 9/1980 $214.48 $164.48 7.61% 9/2000 9/2010
C567278993EE $100 EE 10/1980 $214.48 $164.48 7.61% 10/2000 10/2010
C567278995EE $100 EE 10/1980 $214.48 $164.48 7.61% 10/2000 10/2010
C567279000EE $100 EE 11/1980 $198.48 $148.48 7.39% 5/2000 11/2010
C567279007EE $100 EE 12/1980 $198.48 $148.48 7.39% 6/2000 12/2010
C567279001EE $100 EE 12/1980 $198.48 $148.48 7.39% 6/2000 12/2010
C567279044EE $100 EE 1/1981 $198.48 $148.48 7.39% 7/2000 1/2011
C567279006EE $100 EE 2/1981 $198.48 $148.48 7.39% 8/2000 2/2011
C567278997EE $100 EE 2/1981 $198.48 $148.48 7.39% 8/2000 2/2011
C567278992EE $100 EE 3/1981 $198.48 $148.48 7.39% 9/2000 3/2011
C567278994EE $100 EE 4/1981 $198.48 $148.48 7.39% 10/2000 4/2011
C567279047EE $100 EE 4/1981 $198.48 $148.48 7.39% 10/2000 4/2011
C567278999EE $100 EE 5/1981 $186.32 $136.32 7.24% 5/2000 5/2011
C567279003EE $100 EE 6/1981 $186.32 $136.32 7.24% 6/2000 6/2011
C567279050EE $100 EE 6/1981 $186.32 $136.32 7.24% 6/2000 6/2011
R132105093EE $200 EE 7/1981 $372.64 $272.64 7.24% 7/2000 7/2011
R132105087EE $200 EE 8/1981 $372.64 $272.64 7.24% 8/2000 8/2011
R132105098EE $200 EE 9/1981 $372.64 $272.64 7.24% 9/2000 9/2011
R132105090EE $200 EE 10/1981 $372.64 $272.64 7.24% 10/2000 10/2011
R132105097EE $200 EE 11/1981 $365.28 $265.28 7.33% 5/2000 11/2011
R132105094EE $200 EE 12/1981 $365.28 $265.28 7.33% 6/2000 12/2011
R132105062EE $200 EE 1/1982 $365.28 $265.28 7.33% 7/2000 1/2012
R132105073EE $200 EE 2/1982 $365.28 $265.28 7.33% 8/2000 2/2012
R132105088EE $200 EE 3/1982 $365.28 $265.28 7.33% 9/2000 3/2012
R132105067EE $200 EE 411982 $365.28 $265.28 7.33% 10/2000 4/2012
R132105081EE $200 EE 5/1982 $354.64 $254.64 7.37% 5/2000 5/2012
R132105058EE $200 EE 611981 $372.64 $272.64 7.24% 6/2000 6/2011
1 = Not eligible for payment (purchase price) 2 = Matured (exchangable for HH) 3 = Matured (not exchangable)
. = Possibly eligible for U.S. Savings Bond Education Benefit Program.
See footnotes on Inventory Totals page.
2
Inventory 1
Inventory Detail (continued)
Redemption Date: 4/2000
Issue Yield Next Final
Serial Number Denom. Series Date Value Interest To Date Accrual Maturity
R132105068EE $200 EE 7/1982 $354.64 $254.64 7.37% 7/2000 7/2012
R132105082EE $200 EE 8/1982 $354.64 $254.64 7.37% 8/2000 8/2012
R132105084EE $200 EE 9/1982 $354.64 $254.64 7.37% 9/2000 9/2012
R132105083EE $200 EE 10/1982 $354.64 $254.64 7.37% 10/2000 10/2012
R132105077EE $200 EE 11/1982 $316.00 $216.00 6.88% 5/2000 11/2012
R132105078EE $200 EE 12/1982 $316.00 $216.00 6.88% 6/2000 12/2012
R132105074EE $200 EE 1/1983 $316.00 $216.00 6.88% 7/2000 1/2013
R132105075EE $200 EE 2/1983 $316.00 $216.00 6.88% 8/2000 2/2013
R132105065EE $200 EE 3/1983 $304.08 $204.08 6.65% 9/2000 3/2013
R132105066EE $200 EE 4/1983 $304.08 $204.08 6.65% 10/2000 4/2013
R132105069EE $200 EE 5/1983 $288.32 $188.32 6.52% 5/2000 5/2013
R132105070EE $200 EE 6/1983 $288.32 $188.32 6.52% 6/2000 6/2013
R132105071EE $200 EE 7/1983 $288.32 $188.32 6.52% 7/2000 7/2013
R132105072EE $200 EE 8/1983 $288.32 $188.32 6.52% 8/2000 8/2013
R132105049EE $200 EE 9/1983 $288.32 $188.32 6.52% 9/2000 9/2013
R132105050EE $200 EE 10/1983 $288.32 $188.32 6.52% 10/2000 10/2013
R132105045EE $200 EE 11/1983 $276.16 $176.16 6.45% 5/2000 11/2013
R132105046EE $200 EE 12/1983 $276.16 $176.16 6.45% 6/2000 12/2013
R132105052EE $200 EE 1/1984 $276.16 $176.16 6.45% 7/2000 1/2014
R132105053EE $200 EE 2/1984 $276.16 $176.16 6.45% 8/2000 2/2014
R132105055EE $200 EE 3/1984 $276.16 $176.16 6.45% 9/2000 3/2014
R132105056EE $200 EE 4/1984 $276.16 $176.16 6.45% 10/2000 4/2014
R132105059EE $200 EE 5/1984 $263.52 $163.52 6.35% 5/2000 5/2014
R132105060EE $200 EE 6/1984 $263.52 $163.52 6.35% 6/2000 6/2014
R132105063EE $200 EE 7/1984 $263.52 $163.52 6.35% 7/2000 7/2014
R132105064EE $200 EE 8/1984 $263.52 $163.52 6.35% 8/2000 8/2014
R132105101EE $200 EE 9/1984 $263.52 $163.52 6.35% 9/2000 9/2014
R132105102EE $200 EE 10/1984 $263.52 $163.52 6.35% 10/2000 10/2014
R132105091EE $200 EE 11/1984 $254.64 $154.64 6.33% 5/2000 11/2014
R132105092EE $200 EE 12/1984 $254.64 $154.64 6.33% 6/2000 12/2014
R132105095EE $200 EE 1/1985 $254.64 $154.64 6.33% 7/2000 1/2015
R132105096EE $200 EE 2/1985 $254.64 $154.64 6.33% 8/2000 2/2015
R132105099EE $200 EE 3/1985 $254.64 $154.64 6.33% 9/2000 3/2015
R132105100EE $200 EE 4/1985 $254.64 $154.64 6.33% 10/2000 4/2015
R132105085EE $200 EE 5/1985 $249.68 $149.68 6.41% 5/2000 5/2015
R132105086EE $200 EE 6/1985 $249.68 $149.68 6.41% 6/2000 6/2015
R132105089EE $200 EE 7/1985 $249.68 $149.68 6.41% 7/2000 7/2015
C567279005EE $100 EE 8/1985 $124.84 $74.84 6.41% 8/2000 8/2015
C56727 904 5EE $100 EE 9/1985 $124.84 $74.84 6.41% 9/2000 9/2015
C5 6727 904 6EE $100 EE 10/1985 $124.84 $74.84 6.41% 10/2000 10/2015
C567579048EE $100 EE 11/1985 $122.40 $72.40 6.50% 5/2000 11/2015
C567579049EE $100 EE 12/1985 $122.40 $72.40 6.50% 6/2000 12/2015
C567579042EE $100 EE 1/1986 $122.40 $72.40 6.50% 7/2000 1/2016
C567579043EE $100 EE 2/1986 $122.40 $72.40 6.50% 8/2000 2/2016
C567579008EE $100 EE 3/1986 $122.40 $72.40 6.50% 9/2000 3/2016
C567579009EE $100 EE 4/1986 $122.40 $72.40 6.50% 10/2000 4/2016
C567579010EE $100 EE 5/1986 $120.00 $70.00 6.59% 5/2000 5/2016
C567579011EE $100 EE 6/1986 $120.00 $70.00 6.59% 6/2000 6/2016
C567579012EE $100 EE 7/1986 $120.00 $70.00 6.59% 7/2000 7/2016
C567579013EE $100 EE 8/1986 $120.00 $70.00 6.59% 8/2000 8/2016
C567579014EE $100 EE 9/1986 $120.00 $70.00 6.59% 9/2000 9/2016
C567579015EE $100 EE 10/1986 $120.00 $70.00 6.59% 10/2000 10/2016
C567579016EE $100 EE 11/1986 $105.76 $55.76 5.85% 5/2000 11/2016
C567579017EE $100 EE 12/1986 $105.76 $55.76 5.85% 6/2000 12/2016
1 = Not eligible for payment (purchase price) 2 = Matured (exchangable for HH) 3 = Matured (not exchangable)
. = Possibly eligible for U.S. Savings Bond Education Benefit Program.
See footnotes on Inventory Totals page.
3
Inventory 1
Inventory Detail (continued)
Redemption Date: 4/2000
Issue Y:i.eld Next Final
Serial Number Denom. Series Date Value Interest To Date Accrual Maturity
C567579018EE $100 EE 1/1987 $105.76 $55.76 5.85% 7/2000 1/2017
C567579019EE $100 EE 2/1987 $105.76 $55.76 5.85% 8/2000 2/2017
C567579020EE $100 EE 3/1987 $105.76 $55.76 5.85% 9/2000 3/2017
C567579021EE $100 EE 4/1987 $105.76 $55.76 5.85% 10/2000 4/2017
C567579022EE $100 EE 5/1987 $103.68 $53.68 5.92% 5/2000 5/2017
C567579023EE $100 EE 6/1987 $103.68 $53.68 5.92% 6/2000 6/2017
C567579024EE $100 EE 6/1987 $103.68 $53.68 5.92% 6/2000 6/2017
C567579025EE $100 EE 6/1987 $103.68 $53.68 5.92% 6/2000 6/2017
C567579026EE $100 EE 7/1987 $103.68 $53.68 5.92% 7/2000 7/2017
C567579027EE $100 EE 8/1987 $103.68 $53.68 5.92% 8/2000 8/2017
C567579028EE $100 EE 9/1987 $103.68 $53.68 5.92% 9/2000 9/2017
C567579029EE $100 EE 10/1987 $103.68 $53.68 5.92% 10/2000 10/2017
C567579030EE $100 EE 11/1987 $101.64 $51.64 6.00% 5/2000 11/2017
C567579031EE $100 EE 12/1987 $101. 64 $51.64 6.00% 6/2000 12/2017
C567579032EE $100 EE 1/1988 $101. 64 $51. 64 6.00% 7/2000 1/2018
C567579033EE $100 EE 2/1988 $101.64 $51.64 6.00% 8/2000 2/2018
C567579034EE $100 EE 3/1988 $101.64 $51. 64 6.00% 9/2000 3/2018
C567579035EE $100 EE 4/1988 $101.64 $51. 64 6.00% 10/2000 4/2018
C567579036EE $100 EE 5/1988 $ 98.68 $ 4 8 . 68 6.00% 5/2000 5/2018
C567579037EE $100 EE 6/1988 $ 98 . 68 $48.68 6.00% 6/2000 6/2018
C567579038EE $100 EE 7/1988 $ 98.68 $ 4 8 . 68 6.00% 7/2000 7/2018
C567579039EE $100 EE 8/1988 $ 98.68 $48.68 6.00% 8/2000 8/2018
C567579041EE $100 EE 9/1988 $ 98.68 $ 4 8 . 68 6.00% 9/2000 9/2018
C567579040EE $100 EE 10/1988 $ 98. 68 $48.68 6.00% 10/2000 10/2018
C567579052EE $100 EE 11/1988 $ 95 .84 $45.84 6.00% 5/2000 11/2018
C567579051EE $100 EE 12/1988 $95.84 $45.84 6.00% 6/2000 12/2018
C567579054EE $100 EE 1/1989 $95.84 $45.84 6.00% 7/2000 1/2019
C567579058EE $100 EE 2/1989 $95.84 $45.84 6.00% 8/2000 2/2019
C567579060EE $100 EE 3/1989 $95.84 $45.84 6.00% 9/2000 3/2019
C567579059EE $100 EE 4/1989 $95.84 $45.84 6.00% 10/2000 4/2019
C567579053EE $100 EE 5/1989 $93.04 $43.04 6.00% 5/2000 5/2019
C567579056EE $100 EE 6/1989 $ 93.04 $43.04 6.00% 6/2000 6/2019
C567579055EE $100 EE 7/1989 $93.04 $43.04 6.00% 7/2000 7/2019
C567579061EE $100 EE 8/1989 $ 93.04 $43.04 6.00% 8/2000 8/2019
C567 57 9062EE $100 EE 9/1989 $93.04 $43.04 6.00% 9/2000 9/2019
C567579057EE $100 EE 10/1989 $93.04 $43.04 6.00% 10/2000 10/2019
C567579063EE $100 EE 11/1989 $90.32 $40.32 6.00% 5/2000 11/2019
1 = Not eligible for payment (purchase price) 2 = Matured (exchangable for HH) 3 = Matured (not exchangable)
. = Possibly eligible for U.S. Savings Bond Education Benefit Program.
See footnotes on Inventory Totals page.
4
Inventory 1
Inventory Summary
Redemption Date: 4/2000
Number
of Bonds
Inventory
Value
Redemption
Value
Interest
Pre-January 1990 Issue Dates:
January 1990 and Later Issue Dates:
199
o
199
$46,816.69
$0.00
$46,816.69
$46,816.69
$0.00
$46,816.69
$33,647.94
$0.00 .
$33,647.94
* Proceeds from Series EE & I savings bonds with issue dates beginning January 1990
may be eligible for special tax exemption when used for post-secondary education.
For further information concerning the benefits and restrictions that apply,
please contact the Internal Revenue Service.
1 These bonds are not eligible for payment within 6 months of their issue date.
2 These bonds have reached final maturity and will earn no additional interest.
They can be exchanged for HH bonds within a year of their final maturity date.
3 These bonds have reached final maturity and will earn no additional interest.
They are not eligible for exchange for Series HH bonds since they have been held
over a year past their final maturity date.
5
Last Will
of
ROBERT A. PORTER
I, ROBERT A. PORTER, a resident of Cumberland County, Pennsylvania, declare that this is my
will. I hereby revoke all my previous wills and codicils.
Article One
Introductory Provisions
Section 1. Marital Status
I am currently married to MIRIAM R. PORTER, and all references to my spouse in this will are to
her.
Section 2. Children
a. The name(s) and bil'th date(s) of my children:
Name Birth date
ROBERT A. PORTER, JR.
MELODY A. PORTER
August 2, 1952
December 14, 1954
All references to my children in this instrument are to these children and any
children subsequently born to or adopted by me.
Article Two
Appointment of My Personal Representatives
Section 1.
Nomination of My Personal Representatives
I appoint the following to be my Personal Representative:
MIRIAM R. PORTER
If for any reason the Personal Representative(s) named above are unable or unwilling to serve,
the following successor Personal Representative(s) shall serve until the successor Personal
Representative(s) on the list have been exhausted. Unless otherwise specified if Co-Personal
Representatives are serving, the next following named successor Personal Representative shall
serve only after all of the Co-Personal Representatives cease to act as Personal Representatives.
(I) ROBERT A. PORTER, JR. AND
(2) MELODY A. PORTER, OR THE SURVIVOR
Section 2.
Waiver of Bond
No bond or undertaking shall be required of any Personal Representative nominated in my will.
Section 3.
General Powers
My Personal Representative shall have full authority to administer my estate under the laws of
the State of Pelillsylvania relating to the powers of fiduciaries. My Personal Representative shall
have the power to administer my estate under the Pennsylvania Probate, Estates and Fiduciaries
Code.
2
Article Three
Disposition of My Property
Section 1.
Distribution to My Revocable Living Trust
I give all of my property of whatever nature and kind and wherever located to my revocable
living trust of which I am the Trustor known as:
ROBERT A. PORTER and MIRIAM R. PORTER, Trustees, or their successors in trust,
under the ROBERT A. PORTER LIVING TRUST dated and
any amendments thereto
Section 2.
Alternate Disposition
If my revocable living trust is not in effect for any reason, I give all of my property to my
Personal Representative under this will as Trustee who shall hold, administer and distribute my
property as a testamentary trust the provisions of which are identical to those of my revocable
living trust on the date of execution of my will.
Article Four
Death Taxes
Section 1.
Definition of Death Taxes
The term "death taxes" as used in my will shall mean all inheritance, estate, succession and other
similar taxes that are payable by any person on account of that person's interest in the estate of
the decedent or by reason of the decedent's death including penalties and interest but excluding
the following:
a. Any addition to the federal estate tax for any "excess retirement
accumulation" under Internal Revenue Code Section 4980A.
3
b.
Any additional tax that may be assessed under Internal Revenue Code
Section 2032A.
c.
Any federal or state tax imposed on a generation-skipping transfer as
that term is defined in the federal tax laws unless the applicable tax
statutes provide that the generation-skipping transfer tax is payable
directly out of the assets of my gross estate.
Section 2.
Payment of Death Taxes
Pursuant to the terms of my revocable living trust all death taxes whether or not attributable to
property inventoried in my probate estate shall be paid by the Trustee from that trust. However,
if that trust does not exist at the time of my death or if the assets of that trust are insufficient to
pay the death taxes in full, I direct my personal representative to pay any death taxes that cannot
be paid by the trustee from the assets of my probate estate by prorating and apportioning those
taxes among the beneficiaries of this will.
Notwithstanding any other provision in my trust all death taxes incurred by reason of assets
transferred outside of my trust or probate estate shall be assessed against those persons receiving
such property.
Article Five
General Provisions
Section 1.
No Contest Clause
If any person or entity other than me singularly or in conjunction with any other person or entity
directly or indirectly contests in any court the validity of this will including any codicils thereto
the right of that person or entity to take any interest in my estate shall cease and that person or
entity shall be deemed to have predeceased me.
Section 2.
Captions
The captions of Articles, Sections and Paragraphs used in this will are for convenience of
reference only and shall have no significance in the construction or interpretation of this will.
4
Section 3.
Severability
Should any of the provisions of my will be for any reason. declared invalid such invalidity shall
not affect any of the other provisions of this will, and all invalid provisions shall be wholly
disregarded in interpreting this will.
Section 4.
Governing Law
This will shall be construed, regulated and governed by and in accordance with the laws of the
State of Pennsylvania.
I signed this, my last will, on
~d?~
ROBERT A. PORTER
5
The foregoing Will was, on the day and year written above, published and declared by ROBERT
A. PORTER in our presence to be his WilL We, in his presence and at his request, and in the
presence of each other, have attested the same and have signed our names as attesting witnesses.
We declare that at the time of our attestation of this Will, ROBERT A. PORTER was, according
to our best knowledge and belief, of sound mind and memory and under no undue duress or
constraint.
Address:
/lefidtfAl1 18
6
STATE OF PENNSYLVANIA
: SS:
COUNTY OF DAUPHIN
We, ROBERT A. PORTER, S'1A2MlliJ/ ~ldo/Iand fZ"- f. he Testator
and the witnesses, respectively, whose na{nes are signed to the foregoing Will, aving been
sworn, declared to the undersigned officer that the Testator, in the presence of witnesses, signed
the instrument as his last Will, that he signed, and that each of the witnesses, in the presence of
the Testator and in the presence of each other, signed the Will as a witness.
1P-d~./ d, ~
ROBERT A. PORTER
by
on
My commission expires:
- ------- --,.~
--- -~-_._._-_._"
I I~Ujfi.H!ll,L SEAL
I COIJrJIE l. REESE, No/aoY Publi"
, ., H8r;h:9y'- PA Dauphill County"
__ ,_ Ly ClJlIl,ll!;J..!O!l Expire.s May 10. 1900
-~._.-..._-,-,. ~-~-~----~-~._"-
7
L
The First Amendment
to the
Robert A. Porter Living Trust
On January 2, 1996, !, Robert A. Porter, Tmstor, signed the Robert A. Porter Living
Trust, more formally known as:
Robert A. Porter and Miriam R. Porter, Trustees, or their successors in trust, under the
Robert A. Porter Living Trust, dated January 2, 1996, and any amendments thereto.
Pursuant to Article Four of my Living Tmst, which permits me to amend my trust in
writing at any time, ! now wish to amend my trust as follows:
Article Eleven of my Living Trust is hereby revoked in its entirety; and amended as
\,-- follows:
.~
Section 1. Division of Trust Property Into Shares
Except as hereinafter provided, my Tmstee shall divide all trust property not previously
distributed into separate shares as follows:
A.
Beneficiary Name
Share
ROBERT A. PORTER, JR.
MELODY A, PORTER
50%
50%
g,
If my trust estate shall be subject to federal estate tax after taking into account the
deductions and credits set forth in Article Seven, Section I.a of this agreement, the
foregoing distribution shall be reduced to the extent necessary to eliminate any federal
estate tax, The share of each child (or the share for one or more descendants of a
deceased child) shall be reduced by fifty (50%) percent of the overall reduction of my
trust estate necessary to eliminate federal estate taxes, The balance of my trust estate
remaining after the foregoing reduction shall be distributed to the following charitable
organizations:
t.....,
Beneficiary Name
Share
MECHANICSBURG PRESBYTERIAN CHURCH,
Mechanicsburg, Pennsylvania
to be dedicated as follows:
one-half (1/2) to the General Mission
and one-half (112) to the music program
75%
ELIZABETHTOWN COLLEGE SCHOLARSHIP
PROGRAM
Elizabethtown, Petillsylvania
25%
The foregoing charitable distributions shall be used to establish an endowment fund in the
memory of ROBERT A. PORTER and MIRIAM R. PORTER, the income only of which
shall be used for the foregoing stated purposes. If one of the foregoing charitable
organizations is not in existence at the time of my death, such distribution shall be made
to a successor organization but in any event an organization exempt from federal income
tax and a contribution to which qualifies for a charitable deduction against federal estate
tax as provided in the Internal Revenue Code (as hereinafter defined).
I
",--. Section 2. Distribution of Trust Shares for My Beneficiaries
The trust share of each beneficiary named in Section 1 A. of this Article who survives me shall
be held, administered and distributed as follows:
a. Distribution of Trust Share for ROBERT A. PORTER, .fR.
The trust share set aside for ROBERT A. PORTER, JR. shall be held, administered and
distributed as follows:
1. Distributions of Net Income
My Trustee shall immediately pay to, or apply for the benefit of
such beneficiary all accumulated net income, free of the trust.
2. Distributions of Principal
My Trustee shall immediately pay to, or apply for the benefit of,
ROBERT A. PORTER, JR. all acclUllulated net income and principal,
free of the trust.
'.........
\
"-
3.
Distribution on Death of Beneficiary
If such beneficiary should die before the complete distribution of the trust
share, such trust shall terminate and my Trustee shall distribute the balance
of the trust property to such beneficiary's then living descendants per
stirpes.
If such beneficiary has no then Jiving descendants, my Trustee shaIl
distribute the balance of the trust property to my then living descendants
per stirpes.
If I have no then Jiving descendants, my Trustee shall distribute the
balance of the trust property as provided for in the Articles that follow.
b. Distribution of Trust Share for MELODY A. PORTER
The trust share set aside for MELODY A. PORTER shall be held, administered and
distributed as follows:
1. Distributions of Net Income
,
.
,
"--
My Trustee shall immediately pay to, or apply for the benefit of
such beneficiary all accumulated net income, free of the trust.
2. Distributions of Principal
My Trustee shall immediately pay to, or apply for the benefit of,
MELODY A. PORTER all accumulated net income and principal, free
of the trust.
3. Distribution on Death of Beneficiary
If such beneficiary should die before the complete distribution of the trust
share, such trust shall terminate and my Trustee shall distribute the balance
of the trust property to such beneficiary's then living descendants per
stirpes.
If such beneficiary has no then living descendants, my Trustee shall
distribute the balance of the trust property to my then living descendants
per stirpes.
'-'
L
If I have no then living descendants, my Trustee shall distribute the
balance of the trust property as provided for in the Articles that follow.
Section 3.
Distribution of Trust Share for Descendant of Deceased Child
My Trustee shall promptly distribute, free of the trust, all accumulated net income and principal
of the trust share set aside for each of my deceased children to their descendants, if any, per
stirpes.
If any such descendant dies before the complete distribution of his or her trust share, that
descendant's trust share shall terminate and my Trustee shall distribute the balance of the trust
property to such descendant's then living descendants, per stirpes. If such descendant has no then
living descendants, my Trustee shall distribute the balance of the trust property to my then living
descendants, per stirpes. If I have no then living descendants, our Trustee shall distribute the
balance of the trust property as provided for in the Articles that follow.
Section 4. Distributions to Underage or Disabled Beneficiaries
l
'......-.
Notwithstanding any other provision in this trust agreement, if any person otherwise entitled to
receive a distribution of trust property is under 25 years of age or is mentally disabled or legally
incompetent as defined in Article Fifteen, my Trustee shall retain and administer that person's
trust property for his or her benefit as follows:
a. My Trustee's Discretion
My Trustee may pay to or apply for the benefit of such beneficiary so much of
the net income and principal of the trust as my Trustee, in its discretion, deems
proper considering all other sources of income and resources available to such
beneficiary ljnd known to my Trustee.
b. Paynlents Made to Beneficiary or Personal Representative
My Trustee is authorized to make payments under this Section either directly to
the beneficiary, to the beneficiary's personal representative or to any other person
my Trustee may deem proper to be used for the benefit of the beneficiary.
c. Trustee's Decisions are Final
All decisions by my Trustee as to those it makes payment to, the purposes for
which these payments are made, and the amounts to be paid out of the trust are
within my Trustee's sole but reasonable discretion.
~.
L
d.
Undistributed Net Income
All undistributed net income shall be accumulated and added to the principal of
the trust.
e. Termination and Distribution
My Trustee shall distribute the trust property to a beneficiary under this Section
when such beneficiary reaches age 25, or when he or she is no longer disabled as
determined by a court of competent jurisdiction, or upon certification by two
licensed physicians that such beneficiary is able to properly care for his or her
property and person.
f. Death of Disabled or Underage Beneficiary
i
......-.
Upon the death of a beneficiary under this Section, my Trustee shall distribute all
of such beneficiary's remaining trust share, including the trust principal and
accrued and undistributed income, to any person or entity, and upon any trust,
terms, and conditions, or to or in favor of the estate of such deceased beneficiary,
as he or she may direct by his or her last will or living trust agreement. No
exercise of this general power of appointment shall be effective unless it refers to
this trust agreement and expressly indicates an intention to exercise this general
power of appointment.
All other articles are hereby ratified and confirmed.
J executed this amendment on r~ /C( , 1996.
J certify that J have read the foregoing amendment to my revocable living trust agreement, and
that it correctly states the changes J desire to make in my trust. J approve this amendment to my
revocable living trust in all particulars, and request my Trustees to execute it.
~~/2. ~
Robert A. Porter
Trustor
R~d.~
Robert A. Porter
Trustee
',-
hr:. ; A....J t€. ,D~
Miriam R. Porter
Trustee
L
\
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ACKNOWLEDGEMENT
COMMONWEALTH OF PENNSYLVANIA
: SS
COUNTY OF DAUPHIN
The foregoing amendment to the Robert A. Porter Living Trust was acknowledged before
me on Gt~/ If ' 1996, by Robert A. Porter, as Trustor and Robert A. Porter and Miriam
R. Por~ as Tr tees.
Witness my hand and official seal.
My commission expires:
Notary Public
fWTlJ~UU.
COmJ1:: L. m:[s~.
H"r'll"-Y f'f.\ D::1)Il.';,".:..l
~J~Y (;f~;n~i;'~dOl! r::'{r;i~'(;'~'.
f,
'I.."...,
The
ROBERT A. PORTER
LIVING TRUST
prepared for
ROBERT A. PORTER
,
,
.'1!""","
JAMES, SMITH & DURKIN
Attorneys-aI-Law
134 Sipe Avenue
Hummelstown, Pennsylvania 17036
(717) 533-3280 FAX (717) 533-2795
It) .Jllmes. Smith & Durkin
All Rights Reserved
r,
'tlf~h'Jf
Article One
Article Two
Article Three
Article Four
Article Five
Article Six
Article Seven
Article Eight
Article Nine
'~---.
Article Ten
Article Eleven
Article Twelve
Article Thirteen
Article Fourteen
Article Fifteen
ROBERT A. PORTER LIVING TRUST
Table of Contents
Trust Creation ...................................... I-I
The Trust Estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 2-1
Appointment of Trustees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-1
Trustor's Lifetime Rights. .............................. 4-1
Trust Administration Upon My Death ...................... 5-1
Specific Distributions of Trust Property . . . . . . . . . . . . . . . . . . . .' 6-1
Division into Survivor's Trust and Family Trust. . . . . . . . . . . . . . .. 7-1
The Survivor's Trust. ................................. 8-1
The Family Trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .' 9-1
Common Pot Trust. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 10-1
Division and Distribution of Trust Property.
11-1
Distribution If No Designated Beneficiaries.
12-1
Trustee Administration ............................... 13-1
Trustee Investment Powers. . . . . . . . . . . . . . . . . . . . . . . . . . . .. 14-1
General Provisions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 15-1
I.
,,--
ROBERT A. PORTER LIVING TRUST
Article One
Trust Creation
Section 1. Parties to My Trust
This trust agreement dated JAN () 2 1996 is made between ROBERT A. PORTER, the
Trustor, also known as ROBERT A. PORTER, and the following initial Trustee:
ROBERT A. PORTER
MIRIAM R. PORTER
Section 2. Name of My Trust
This trust may be referred to as the:
ROBERT A. PORTER LIVING TRUST, dated .IAN 0 2 18~S
_. The formal name of my trust and the designation to be used for the transfer of title to the name
of my trust is:
ROBERT A. PORTER and MIRIAM R. PORTER, Tmstees, or their successors in trust,
under the ROBERT A. PORTER LIVING TRUST dated ,il~IN II ~f9'J:' and
any amendments thereto
Section 3. Revocable Living Trust
My trust is a revocable living trust.
Section 4. Trustor as Trustee
Unless otherwise provided in this trust agreement, when I am serving as Trustee under this trust,
I may conduct business and act on behalf of my trust without the consent of any other Trustee.
1-1
(
r.
.~
"'"..~-
I
'-'
Section 5. . My Family
a. Marital Status
I am currently married and my spouse's name is MIRIAM R. PORTER. All
references to my spouse in this trust agreement are to her.
b. The name(s) and birth date(s) of the children of ROBERT A. PORTER are:
Name Birth date
ROBERT A. PORTER, JR.
MELODY A. PORTER
August 2, 1952
December 14, 1954
All references to the children of ROBERT A. PORTER in this instrument are to these
children and any children subsequenHy born to or adopted by him.
]-2
,
"
'i,~
Article Two
The Trust Estate
Section 1.
Initial T.-ansfer of Property
I hereby assign, convey, transfer and deliver to my Trustee all property set forth on Schedule
"A", attached hereto, and made part of this trust agreement. My Trustee acknowledges receipt
of all assets l.isted on the attached Schedule.
All assets titled in the name of my trust or in the name of my Trustee, but not listed on Schedule
"A", shall be considered a part of my trust estate as if they had been set forth on the attached
Schedule.
Section 2.
Additional Transfer of Property
My Trustee is authorized to accept additional transfers of property interests of all kinds, at any
time in any marmer by me or any other person or entity.
All property interests received by transfer, assignment, gift, bequest, devise or beneficiary
designation shall become a part of my trust estate unless disclaimed by my Trustee.
Section 3.
Composition of Trust Property
In addition to the property described in the previous Sections, my trust estate shall include the
following:
a. All insurance policies transferred to my trust or policies in which my
trust is named as beneficiary plus the proceeds of those policies;
b. Any interest in any pension, retirement or death benefit, bonus,
profit-sharing or employee's savings plan or any similar contract
created or entered into by an employer for the benefit of some or all
employees which is transferred to my trust or in which my trust is
named as beneficiary and all proceeds of any such benefit, bonus, plan
or contract; and
c. Any other property or interest in property which becomes subject to
my trust.
2-1
I
I""","
"'-
\..;-.,
Section 4.
Acceptance of Trust Property
All property transferred to my trust and not disclaimed by my Trustee shall be held, administered
and distributed according to the terms of this agreement.
Section 5.
Trust Property Schedule
The trust property transferred to my trust is set forth on Schedule "A",
2-2
Article Three
',j
"~'
Appointment of Trustees
Section 1.
Definition of Trustee
All references in this agreement to "Trustee" shall be deemed a reference to the person or entity
who is then serving as Trustee and shall include alternate or successor Trustees or Co-Trustees
unless the context requires otherwise.
Section 2.
Resignation of a Trustee
Any Trustee may resign at any time without court approval by giving written notice to me or to
my personal representatives. If I am not living, written notice shall be given to my successor
Trustee, or if there is no successor, to the beneficiaries then entitled to receive income or
principal distributions under this agreement, to their respective personal representatives, or if such
beneficiaries then be minors, to the persons having the care or custody of them.
Section 3.
Removal of a Trustee
!
'......,
Any Trustee may be removed under this agreement as follows:
a. While I am Both Alive and Competent
While I am both alive and legally competent, I shall have the right to remove
any Trustee appointed under this agreement at any time with no requirement that
the removed Trustee receive any reason for such termination.
b. Removal by Others
After my death or legal incompetency, any Trustee may be removed by a
majority vote of the beneficiaries then entitled to receive income or principal
distributions under this trust agreement or their personal representatives at any
time for cause.
c. Notice to Removed Trustee
Written notice of removal under this agreement shall be effective immediately
when signed by the person or persons authorized to make the removal and
delivered to the Trustee personally or deposit by United States certified mail,
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return receipt requested. The written notice removing a Trustee shall designate
a successor Trustee.
d. Transfer of Trust Property
The Trustee so removed shall promptly transfer and deliver to the successor
Trustee all property of the trust under its possession and control.
Section 4.
Designated Successor Trustees
Whenever a Trustee is removed, dies, resigns, becomes legally incapacitated or is otherwise
unable or unwilling to serve, that Trustee shall be replaced as follows:
a. The Death or Disability of a Trustee While I am Serving as
Trustee
I may serve as the only Trustee or I may name any number of Trustees to serve
with me. If any of these other Trustees subsequently die, resign, become legally
incapacitated or are otherwise unable or unwilling to serve as a Trustee, I may
or may not fill the vacancy.
I.
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b.
Disability Trustees of ROBERT A. PORTER
Upon the disability of ROBERT A. PORTER, if he is then serving as an initial
Trustee he shall be replaced by the following Disability Trustee(s):
MIRIAM R. PORTER
If, for any reason, the Disability Trustee(s) named above are unable or unwilling
to serve, the following successor Disability Trustee(s) shall serve until the
successor Disability Trustee(s) on the list have been exhausted. Unless otherwise
specified, if Co-Disability Trustees are serving, the next following named
successor Disability Trustee shall serve only after all of the Co-Disability
Trustees cease to act as Trustees.
(I) ROBERT A. PORTER, JR. AND
(2) MELODY A. PORTER, OR THE SURVIVOR
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c.
Death Trustees of ROBERT A. PORTER
Upon tbe deatb of ROBERT A. PORTER, if he is then serving as an initial Trustee
he shall be replaced by the following Death Trustee(s):
MIRIAM R. PORTER
If, for any reason, the Death Trustee(s) named above are unable or unwilling to
serve the following successor Death Trustee(s) shall serve until the successor
Death Trustee(s) on the list have been exhausted. Unless otherwise specified,
if Co-Death Trustees are serving the next following named successor Death
Trustee shall serve only after all of the Co-Death Trustees cease to act as
Trustees.
(I) ROBERT A. PORTER, JR. AND
(2) MELODY A. PORTER, OR THE SURVIVOR
Section 5.
Definition of Disability
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A Trustee shall be considered disabled in the event that a court of competent jurisdiction
determines that such Trustee is legally incompetent, or in the event that a Trustee is not
adjudicated incompetent but, by reason of illness or mental disability, such Trustee has been
certified by two licensed physicians to be unable to properly handle his or her own affairs.
Section 6.
No Designated Successor Trustees
If at any time there is no Trustee acting under this agreement and there is no person or institution
designated and qualified as a successor Trustee, a majority of the beneficiaries then eligible to
receive distributions of income or principal under this agreement or their legal representatives
sball appoint a successor Trustee. If any trust existing under this agreement lacks a Trustee and
no successor is appointed pursuant to this Section, the vacancy shall be filled by a court of
competent juris~iction.
Section 7.
Responsibility of Successor Trustees
A successor Trustee shall have the same rights, powers, duties, discretions and immunities as if
it had been named as initial Trustee under this agreement. No successor Trustee shall be
personally liable for any act or failure to act of any predecessor Trustee or shall have any duty
to examine the records of any earlier Trustee. A successor Trustee may accept the account
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Article Four
Trustor's Lifetime Rights
Section 1.
Rights While I am Alive and Legally Competent
During my lifetime while I am legally competent, I shall have the following powers over the trust
property and my Trustee:
a. Right to Trust Income
My Trustee shall pay to me or apply for my benefit all the net income from this
trust monthly or in other convenient installments as I may direct.
b. Right to Trust Principal
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My Trustee shall pay to me or apply for my benefit such sums from the
principal of this trust as I may direct. I may not, however, direct my Trustee to
make gifts from trust property to third parties. If my Trustee inadvertently
makes a distribution I intended as a gift directly from the trust to a third party,
that distribution shall be construed as a distribution to me first then a gift to the
third party from me.
c. Right to Add and Remove Property
By written direction delivered to my Trustee, I may add other property to my
trust or withdraw property in any amount and at any time.
d. Right to Amend or Revoke My Trust
I shall have the right to amend, modify, alter, revoke or terminate my trust or
any separate trusts created under this agreement at any time in whole or in part.
Any amendment or revocation of this trust agreement must be delivered to my
Trustee in writing. The power to amend, revoke or terminate this trust is
personal to me and may not be exercised by any other person or entity.
After my death, this trust or any trust created by this agreement shall be
irrevocable and not subject to amendment.
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e.
Delivery of Property After Revocation
After any revocation or termination of any trust created by this agreement my
Trustee shall promptly deliver the designated trust property to me.
f. Trustee's Retention of Assets Upon Revocation
In the event of any revocation of all or part of my trust, my Trustee shall be
entitled to retain sufficient assets to reasonably secure the payment of liabilities
my Trustee has lawfully incurred in administering the trust and any fees that
have been earned by my Trustee until such time as those liabilities have been
discharged and fees paid, unless I indemnify my Trustee against loss or expense.
Section 2.
Power to Direct Investments
I shall have the right to direct investments of trust property as follows:
a. Invest trust funds in specified securities, properties or other forms of
investment;
b.
Retain as part of the trust estate for specified periods of time
securities, properties or other forms of investment held in trust under
this instrument; and
""-'
c. Sell, encumber, lease, abandon or dispose of any trust property.
My Trustee shall not be liable for any losses sustained as a direct or indirect
result of any action taken in accordance with the terms of the written direction.
All directions shall be in a writing signed by me, specifying, if applicable the
period of time during which the instructions shall remain in effect and describing
any other conditions affecting the directions.
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Section 3.
Trustol"s Rights During Disability
a. Disability Defined
I shall be considered disabled in the event a court of competent jurisdiction
determines that I am legally incompetent or, in the event that I am not
adjudicated incompetent but by reason of illness or mental disability, I am in the
opinion of two licensed physicians unable to properly handle my own affairs.
b. Income and Principal Distl'ibutions
My Trustee during the period of a a Trustor's disability shall pay to or apply for
that Trustor's benefit as much of the net income and principal of my trust estate
as my Trustee in its sole discretion shall deem necessary or advisable.
c. Payment of Obligations
My Trustee during the period of my disability shall from time to time, pay my
valid obligations, my medical expenses and provide for my comfortable
maintenance and welfare taking into consideration my other income or resources.
d.
Income and Principal Distributions for Spouse
My Trustee shall pay to or apply for the benefit of my spouse as much of the
principal and net income of my trust estate as my Trustee in its sole discretion
shall deem necessary or advisable from time to time for my spouse's health,
maintenance, support and education, taking into consideration her other income
or resources.
e. Trustee Guidelines
In making distributions under this Section my Trustee shall give primary
consideration to my needs and secondary consideration to the needs of my
spouse.
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f.
Tax Planning
During my life if I shouid become disabled, my Trustee may exercise the
foliowing powers as attorney in fact on my behalf, either alone or in conjunction
with any other attorney in fact under a durable power of attorney, but the
primary concern of my Trustee shall be for my welfare and secondarily for the
welfare of my lineal descendants for tax planning:
I. My Trustee may make additional distributions to my
lineal descendants equaliy by class for the purpose
of continuing any gift program initiated by me
which my Trustee reasonably determines will
achieve beneficial results for estate and/or income
tax planning purposes.
2. My Trustee may initiate a gift program on my
behalf which my Trustee reasonably determines will
achieve beneficial results for estate and/or income
tax planning purposes by making distributions to my
lineal descendants equally by class so long as such
distributions are made in the form which qualify for
and are limited to the annual exclusion for federal
gift tax purposes.
.,........
3. During any period when I am disabled, my Trustee
shall be under no obligation to initiate, recommend
or consider any tax planning objective or program
for me and any exercise of its discretion in this
regard when conducted in good faith shall not
subject it to liability to any person affected thereby.
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Section 4.
Exercise of Trustor's Rights and Powers by Others
. Any right or power that I could exercise personally under the terms of this agreement except the
power to amend, revoke or terminate any trust created by this agreement may be exercised for
and on behalf of me by any attorney in fact who, at the time of the exercise, is duly appointed
and acting for me wlder a valid and enforceable durable power of attorney executed by me or,
if there is no such attorney in fact, by my duly appointed and acting conservator after petition
to a court of competent jurisdiction.
The power to amend, revoke or terminate any trust created by this agreement is personal to me
and may not be exercised by any other person or entity.
Section 5.
Rights Concerning Standby Property
It is contemplated that certain assets may be added to the trust estate from time to time with the
possession and control thereof retained by or redelivered to me. If I execute and deliver to my
Trustee an instrument effectively transferring such assets to my Trustee together with any further
documentation necessary to effect the record transfer thereof, in the event of my death or
incapacity the assets shall be deemed to be assets of the trust estate and held by me as the
nominee of my Trustee. During the period such assets are in my possession they shall be subject
to the following terms and conditions:
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a.
b.
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I may receive directly and devote to my own use and benefit
any dividends, interest, income or distributions from or upon
such assets and neither I nor my Trustee shall have any duty
of accounting to the other or to any other person with regard
thereto.
Any sale, exchange or other transfer of such assets by me
shall constitute a withdrawal of snch assets from the trust
estate and my Trustee shall have no further interest therein
or duties with regard thereto. Though not a condition
precedent to any snch withdrawal, I agree to notify my
Trustee of all such withdrawals.
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c.
I shall be responsible for the reporting of the income from
such assets to the appropriate taxing authorities and my
Trustee shall have no responsibility for including such
income on any fiduciary returns prepared by it or for the
preparation of any other income tax return with respect
thereto unless I duly notify my Trustee of such income items
and a full and adequate accounting thereof is made and
presented to my Trustee.
d. I shall protect and indemnify my Trustee against all losses,
liabilities and expenses which may result directly or
indirectly from my use, possession, management or control
of such assets.
e.
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Section 6.
Upon my death or incapacity, my Trustee shall be entitled to
the possession thereof and thereafter shall have all the rights,
powers and duties with respect to such assets which are
otherwise granted to my Trustee herein. It is understood that
my Trustee shall be responsible only for the assets which
actually come into its possession and control. However, it
is also understood that my Trustee shall use any reasonable
and prudent means to secure possession of any trust assets of
which it has knowledge. My Trustee shall have no duty,
accountability or responsibility to me or to any other person
with respect to any assets of which it has no knowledge or
of which it is unable to obtain possession and control.
Trustor/Trustee Bank Accounts
It is contemplated that I may establish a joint bank account or accounts with my Trustee and
create powers of attorney in respect thereof in other persons. Deposits from time to time made
by me or other authorized persons into such an account shall constitute transfers to the trust estate
and withdrawals therefrom which may be made without the co-signature of my Trustee shall
constitute withdrawals from the trust estate. However, my capacity and other authorized persons
with respect to any such account shall be that of nominee of my Trustee not co-owner. At any
given time the trust estate shall include the then balance of any such account.
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Section 7.
Life Insurance Policies and Retirement Plans
Unless otherwise provided in this trust agreement or elsewhere, I shall have all powers over life
insurance policies and retirement benefits owned by or made payable to my trust, including the
following:
a. Payment of Premiums
I shall be responsible for the payment of premiums and other charges on each
policy or insurance owned by or made payable to my trust. My Trustee shall
have no duty to make any payment or be responsible to determine whether such
payments have been made.
b. Custody of Policies
My Trustee shall not be responsible for the custody or safekeeping of any life
insurance policy before its actual delivery to my Trustee nor after its withdrawal
by its owner.
c. Change Beneficiaries
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I shall have the right to change the beneficiary and to receive any dividends or
other earnings of such policies or plans without accountability therefor to my
Trustee or any beneficiary in this agreement.
d. Assignment
I may assign any policy or plan benefits to any lender to the extent allowed by
law including my Trustee as security for any loan to me or any other person.
e. Surrendered Policies
If any life insurance policy is surrendered or if the beneficiary of any policy is
changed, this trust agreement shall be revoked with respect to such policy.
However, no revocation of the trust with respect to any policy whether pursuant
to the provisions of the preceding sentence or otherwise shall be effective unless
the surrender or change in beneficiary of the policy is accepted by the insurance
company.
Section 8.
Undistributed Net Income
Any net income not distributed under the provisions of this Article shall be added to the trust
principal.
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Article Five
Trust Administration Upon My Death
Section 1.
Trustees Discretion to Pay My Debts and Taxes
After my death my Trustee in its sole discretion may pay all or any part of my following
expenses, debts, claims and taxes becoming due or payable by reason of my death:
a. My final medical expenses and all funeral costs;
b. Legally enforceable claims against me or my estate;
c. Reasonable expenses of administration of this trust and my probate
estate, if any;
d. Any allowances mandated by a court of competent jurisdiction to those
dependent upon me;
e. Any estate, inheritance, succession, death or similar taxes payable by
reason of my death; and
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f.
Any penalties or interest on any of the above claims, debts or taxes
owed by me or my estate.
Section 2.
. Payment by My Trustee or by My Personal Representative
My Trustee in its sole discretion may make distributions authorized under this Article either
directly to the person or entities to whom payment is owed or to the personal representative of
my probate estate. Written statements by my personal representative that such sums are due and
payable by my estate shall be sufficient evidence of their amount and propriety for the protection
of my Trustee. My Trustee shall be under no duty to see to the application of any such payments
made to my personal representative.
Section 3.
Tax Elections
With regard to the payment of any income tax, gift tax, estate tax, inheritance tax or any other
tax required because of my death, my Trustee shall have the right to make any available elections
allowed under the law. My Trustee is authorized to sign and file any tax return required because
of my death.
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Section 4.
Payment of Death Taxes, Claims and Expenses
a. Payment out of Trust Property
All death taxes, claims and expenses payable under the provisions of this Article
shall be paid by my Trustee out of the trust estate except as specifically provided
for elsewhere in this agreement.
b. Exception for Property Passing Outside of Trust
Notwithstanding any other provision in my trust all death taxes, claims and
expenses incurred by reason of assets passing outside of my trust or probate
estate shall be assessed against those persons receiving such property.
c. No Payment from Survivor's Share
Notwithstanding any othcr provision in my trust unless all other assets available
to my Trustee have been exhausted, all death taxes, claims and expenses payable
under the provisions of this Article shall not be paid from the Survivor's Trust
as defined in Article Eight or from any property passing to my surviving spouse
that qualifies for the federal estate tax marital deduction.
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Article Six
Specific Distributions of Trust Property
Section 1.
No Specific Distributions
My Trustee shall make no specific distributions of trust property to any beneficiaries under this
trust agreement upon my death. All distributions of trust property shall be made in the Articles
that follow.
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Article Seven
Division into Survivor's Trust and Family Trust
Section 1. '. Division of the Trust Estate
Upon my death my Trustee shall allocate and distribute the remaining trust estate including any
property that becomes distributable or payable to my Trustee at my death into two separate shares
to be identified as the Survivor's Share and the Family Share.
a. Property Transferred to the Survivor's Share
The Survivor's Share shall consist of assets having a value equal to the
minimum amount necessary to eliminate or to reduce to the maximum extent
possible any federal estate tax at my death, taking into account the following:
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I. The net value for federal estate tax purposes of all other
property that passes or has passed to my surviving
spouse under this trust agreement, my probate estate or
otherwise that qualifies for the federal estate tax marital
deduction;
2. All federal estate tax deductions actually allowed other
than the marital deduction;
3. The unified credit available to my estate;
4. The credit for state death taxes available to my estate, to
the extent that the use of that credit does not result in or
increase any death tax payable to any state; and
5. Any other allowable credits available to my estate,
except the credit for tax on prior transfers from a
"transferor", as defined in Internal Revenue Code
Section 2013, who dies within two years after the date
of my death but only to the extent that those credits do
not disqualify this gift from receiving the marital
deduction.
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b.
Survivor's Share to be Administered as Snrvivor's Trust
The Survivor's Share shall be held, administered and distributed according to the
provisions of the Survivor's Trust as set forth in Article Eight of this trust
agreement
c. Property TransfelTed to the Family Share
The Family Share shall consist of all assets not distributed to the Survivor's
Share,
d. Family Share to be Administered as Family Trust
The Family Share shall be held, administered and distributed according to the
provisions of the Family Trust as set forth in Article Nine of this trust
agreement.
Section 2.
Allocation and Valuation of Assets
In allocating assets between the Survivor's Share and the Family Share, my Trustee shall allocate
the trust assets that qualify for the marital deduction between the Survivor's Share and the Family
Share in cash or in kind or partly in each on a pro rata or non pro rata basis and in undivided
interests or not; subject, however, to the following:
a. Qualification for Marital Deduction
Only assets that qualify for the marital deduction shall be allocated to the
Survivor's Share,
b. Valuations of Allocations ill Kind
Assets allocated in kind shall be deemed to satisfy the marital deduction amount
on the basis of their values as finally determined for federal estate tax purposes
provided, however, that my Trustee shall act impartially, consistent with
equitable principles requiring impartiality among beneficiaries in allocating assets
in satisfaction of the marital deduction share so that any distribution of assets in
satisfaction of the marital deduction share shall be made of assets including cash
fairly representative of appreciation or depreciation in the value of all property
thus available for distribution,
c. Income
The Survivor's Share shall be entitled to a pro rata share of the income earned
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on deceased Trustor's residuary probate and trust assets from the date of
deceased Trustor's death including a share of income earned on assets used to
discharge liabilities.
d. FOI'eign Death Tax Credit
My Trustee shall not allocate assets that qualify for the foreign death tax credit
to the Survivor's Share unless all other assets or interests available for allocation
have been so allocated.
e. Insurance on the Life of My Surviving Spouse
My Trustee shall not allocate any policy of insurance on the life of my surviving
spouse to the Survivor's Share that is my separate property.
f. Insurance on the Lives of Others
Any incidents of ownership to a policy of insurance on the life of a person other
than me shall be allocated to the Family Share.
g. Lack of Property to Fully Fund the Survivor's Share
'-
If there is insufficient property qualifying for the federal estate tax marital
deduction to fully fund the Survivor's Share, the funding to the Survivor's Share
shall be reduced accordingly.
Section 3.
Intention that Survivor's Share Qualify for Marital Deduction
I intend that the Survivor's Share qualify for the federal estate tax marital deduction and this
agreement shall be construed accordingly. All other provisions of this trust agreement shall be
subordinate to that intent. If the granting of any right, power, privilege, authority, or immunity
to my Trustee or another person and the imposition of any duty upon my Trustee or another
person by any provision of this trust agreement would disqualify any share or interest of a
beneficiary hereunder from qualifying for the federal estate tax marital deduction provided by
Section 2056 of the Code, such provision shall be ineffective if and to the extent that the same
if effective would so disqualify such share or interest. The provisions of this Section shall also
apply to my probate estate, personal representative and all beneficiaries, devisees and legatees.
Notwithstanding any other provision in this trust agreement to the contrary, my surviving spouse
at any time shall have the right to direct my Trustee in writing to convert within a reasonable
time any unproductive trust property to income producing property.
Section 4..
Disclaimer of Property
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Any property or portion of propeliy that is disclaimed by my surviving spouse shall be held,
administered or distributed according to the following terms:
a. Property Disclaimed
My surviving spouse may disclaim any property held or distributed to or for the
benefit of my surviving spouse under this trust agreement.
b. Time to Disclaim
My survlVlng spouse may disclaim within the time limits and under the
conditions permitted by the laws regulating disclaimers.
c. Delivery of Disclaimer to My Trustee
A disclaimer by my surviving spouse may be exercised by the delivery to my
Trustee of an irrevocable and unconditional refusal to accept any or all property
interests passing to my surviving spouse or the Survivor's Share.
d. Disclaimer of Survivor's Share
.-
If my surviving spouse exercises a disclaimer with respect to any or all property
set aside as the Survivor's Share, stich disclaimed interest shall be added to the
Family Share.
e. Disclaimer of Family Share
If my surviving spouse exercises a disclaimer with respect to any or all property
set aside as the Family Share, stich disclaimed interest shall be distributed under
the relevant terms of this agreement as though my surviving spouse had
predeceased me.
Section 5.
Retirement Accounts
If my Trustee is named the beneficiary of an interest in one or more plans which are qualified
under Internal Revenue Code Section 401 or one or more Individual Retirement Accounts
qualified under Internal Revenue Code Section 408 (hereinafter "Retirement Accounts"), then my
Trustee shall allocate the benefits payable from such Retirement Accounts to the Survivor's Trust
(or a share hereunder) without underfunding the Family Trust, if possible.
Furthermore, if one or more Retirement Accounts are distributed to the Survivor's Trust in
installment payments, the following provisions shall apply:
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a.
Amount To Be Distributed
My Trustee shall pay to or apply for the sole benefit of my surviving spouse, at
least quarterly, the greater of (i) all of the net income earned by the Retirement
Account, or (ii) the amount required to be distributed from such Retirement
Account under Internal Revenue Code Section 401(a)(9). My Trustee shall take
all of the necessary action to cause the Retirement Account to distribute to the
Snrvivor's Trust the amount required to be distributed to the Surviving Trustor
under this paragraph.
b. Qualifying Income Interest
My Trustee shall take all of the necessary action to assure that the interest of my
surviving spouse qualifies as a qualifying income interest for life pursuant to
Internal Revenue Code Section 2056(b)(7).
c. Principai and Income Allocation
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My Trustee shall allocate to the income of the Survivor's Trust all of the net
income earned by the Retirement Account and paid to that trust regardless of
whether the Retirement Account is allocated to principal for trust accounting
purposes. My Trustee shall allocate to principal of the Survivor's Trust all other
distributions from the Retirement Account.
d. Undet'pt"oductive Property
The surviving spouse shall have the power to direct my Trustee to compel any
Retirement Account from which distributions are made to the Survivor's Trust
to be invested in income-producing assets.
e. Power to Accelerate Distributions
My Trustee shall elect an option under each Retirement Account which allows
my Trustee in its discretion to accelerate distributions and to receive one or more
lump sum payments from such Retirement Account so that my Trustee has the
flexibility to withdraw principal in its discretion from the Retirement Account.
If such an option is not available under the Retirement Account, my Trustee
shall take all of the necessary action to cause such Retirement Account to be
transferred to an Individual Retirement Account which offers such flexibility and
which is titled in the participant's name and is qualified under Internal Revenue
Code Section 408; provided however, that such transfer is not treated as a
taxable distribution for income tax pnrposes.
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Article Eight
Survivor's Trust
Section 1.
Rights of Surviving Spouse in the Survivor's Trust
My Trustee shall hold, administer and distribute the assets of Survivor's Trust as follows:
a. Payment of Income
My Trustee shall pay to or apply for the benefit of the surviving spouse so long
as the surviving spouse lives the entire net income of the Survivor's Trust in
monthly or other convenient installments agreed upon by the surviving spouse
and my Trustee, but not less often than annually.
I.
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If my Trustee is entitled to payments from any Retirement Account, it shall
allocate to income from payments received in any calendar year an amount equal
to the income earned by the account in such year, and any excess shall be
allocated to principal, and if the payments in such year shall be less than the
amount equal to the income earned by the account in such year, my surviving
spouse shall have the continuing right to require my Trustee to withdraw from
the account and pay to him/her as income an additional amount so that he/she
can be paid an amount equal to such income. Notwithstanding the preceding
sentence, if the Internal Revenue Service should determine that for the
Survivor's Trust to qualify for the marital deduction all of the income earned by
the account does not have to be distributed to my surviving spouse or be subject
to his/her withdrawal right, then only the amount required for such qualification
shall thereafter be distributed to himlher or be subject to his/her withdrawal
right.
b. General Power of Appointment Over Undistributed Net Income
Upon the death of the surviving spouse, my Trustee shall distribute all of the
trust property, including the trust principal and accrued and undistributed
income, to any person or entity and upon any trust, terms and conditions, or to
or in favor of the estate of the surviving spouse as the surviving spouse may
direct by his or her last will or living trust agreement. No exercise of this
general power of appointment shall be effective unless it refers to this trust
agreement and expressly indicates an intention to exercise this general power of
appointment. My Trustee may rely upon any instrument admitted to probate as
the last will of the surviving spouse in carrying out the terms of the power of
appointment and shall not be liable for any good faith act in reliance upon that
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will even if for any reason it is later determined to be invalid with respect to its
purported exercise of this power of appointment. If my Trustee receives no
notice of the existence of a will of the surviving spouse within six (6) months
after the death of the surviving spouse, my Trustee may distribute the trust assets
and income as though this power of appointment had not been exercised and
shall in that event be conclusively presumed to have acted in good faith, even
if a valid will is thereafter discovered.
c. Discretionary Payment of Principal
At any time or times during the trust term my Trustee shall pay to or apply for
the benefit of the surviving spouse so much of the principal of the Survivor's
Trust as my Trustee deems proper for the surviving spouse's health,
maintenance, support and education. In exercising discretion my Trustee shall
give the consideration that my Trustee deems proper to all other income and
resources then readily available to the surviving spouse for use for these
purposes that are then known to my Trustee.
d. Limited Power of Appointment
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By either a last will or by a living trust agreement the surviving spouse shall
have the limited testamentary power to appoint to or for the benefit of my
descendants some or all of the principal and any accrued but undistributed net
income of Survivor's Trust as it exists at the death of the surviving spouse. The
surviving spouse may appoint trust assets under this limited testamentary power
among my descendants in equal or unequal amounts, either directly or in trust
as the surviving spouse directs.
This limited testamentary power of appointment shall not be exercised in favor
of the surviving spouse's estate, the creditors of the surviving spouse, the
creditors of the surviving spouse's estate or in any way which would result in
any economic benefit to the surviving spouse.
Section 2.
Trustee's Discretion to Pay Debts and Taxes
The Survivor's Trust shall terminate upon the death of the surviving spouse. My Trustee, shall
hold and administer the unappointed balance or remainder of the Survivor's Trust as follows:
a. Surviving Spouse's Debts and Taxes
My Trustee, in its sole discretion, may pay all or any part of the survlvmg
spouse's following expenses, debts, claims and taxes becoming due or payable
by reason of the surviving spouse's death:
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1. Final medical expenses and all funeral costs;
2. Legally enforceable claims against the surviving spouse
or the surviving spouse's estate;
3. Reasonable expenses of administration of this trust and
the surviving spouse's probate estate if any;
4. Any allowances mandated by a court of competent
jurisdiction to those dependent upon the surviving
spouse;
5. Any estate, inheritance, succession, death or similar
taxes payable by reason of the death of the surviving
spouse; and
6. Any penalties or interest on any of the above claims,
debts or taxes owed by the surviving spouse or the
surviving spouse's estate.
Section 3.
Payment by My Trustee or Personal Representative
....~. My Trustee in its sole discretion may make distributions authorized under this Article either
directly to the person or entities to whom payment is owed or to the personal representative of
the surviving spouse's probate estate. Written statements by the surviving spouse's personal
representative that such sums are due and payable by the estate shall be sufficient evidence of
their amount and propriety for the protection of my Trustee. My Trustee shall be under no duty
to see to the application of any such payments made to the surviving spouse's personal
representative.
Section 4.
Tax Elections
With regard to the payment of any income tax, gift tax, estate tax, inheritance tax or any other
tax required because of the death of the surviving spouse, my Trustee shall have the right to make
any available elections allowed under the law. My Trustee is authorized to sign and file any tax
return required because of the death of the surviving spollse.
Section 5.
Administration of Survivor's Trust Remainder
After payment of debts, expenses and taxes, my Trustee shall hold and administer the
unappointed balance or remainder of the Survivor's Trust as provided in the Articles that follow.
'--
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Article Nine
Family Trust
Section 1.
Rights of Surviving Spouse in the Family Trust
My Trustee shall hold, administer and distribute the assets of the Family Trust as follows:
a. Payment of Income
My Trustee shall pay to or apply for the benefit of my surviving spouse, so long
as my surviving spouse lives, the entire net income of the Family Trust, in
monthly or other convenient installments agreed upon by my surviving spouse
and my Trustee, but not less often than annually.
b. Discretionary Payment of Principal
i
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At any time or times during the trust term, my Trustee shall pay to or apply for
the benefit of my surviving spouse so much ofilie principal of the Family Trust
as my Trustee, in its discretIOn,' deems proper for my surviving spouse's health,
maintenance, support and education.
c.
Guidelines for Trustee's Discretion
No amount paid or applied need thereafter be repaid to my Trustee or restored
to my trust. In exercising discretion, my Trustee shall give the consideration
that my Trustee deems proper to all other income and resources that are known
to my Trustee and that are readily available to my surviving spouse for use for
these purposes. My Trustee shall accumulate and add to principal any net
income not distributed.
d. Surviving Spouse's Right to Witbdraw Principal
My surviving spouse shall have the power to withdraw from the Family Trust
principal each calendar year those amounts that shall not exceed the greater of
five thousand dollars ($5,000) or five (5) percent of the assets, valued as of the
end of the preceding calendar year. My surviving spouse shall exercise this
power by a written instrument signed by him or her and delivered to my Trustee.
This power is noncumulative and to the extent it is not exercised by the end of
January of each calendar year, it shall lapse. This power shall exist each year
until the death of my surviving spouse.
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Section 2.
Termination of the Family Trust
On the death of my surviving spouse, the Family Trust shall terminate. All undistributed trust
assets, including any accrued and undistributed net income, shall be held, administered and
distributed in the Articles that follow.
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Article Ten
Common Pot Trust
After the death of the Trustor my Trustee shall not create a Common Pot Trust All trust
property that has not been distributed under prior Articles of this trust agreement shall be held,
administered, divided and distributed according to the provisions of the Articles that follow.
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Article Eleven
Division and Distribution of Trust Property
Section 1.
Division of Trust Property Into Shares
My Trustee shall divide all trust property not previously distributed into separate shares as
follows:
Beneficiarv Name
Share
ROBERT A. PORTER, JR.
MELODY A. PORTER
50%
50%
Section 2.
Distribution of Trust Shares for My Beneficiaries
The trust share of each beneficiary named in Section I. of this Article who survives me shall be
held, administered and distributed as follows:
a.
Distribution of Trust Shat'e for ROBERT A. PORTER, JR.
The trust share set aside for ROBERT A. PORTER, JR. shall be held, administered
and distributed as follows:
1. Distributions of Net Income
My Trustee shall immediately pay to, or apply for the
benefit of such beneficiary all accumulated net income, free
. of the trust.
2, Distributions of Principal
My Trustee shall immediately pay to, or apply for the
benefit of, ROBERT A. PORTER, JR. all accumulated net
income and principal, free of the trust.
\.....-
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3, Distribution on Death of Beneficiary
If such beneficiary should die before the complete distribution of the
trust share, such trust shall terminate and my Trustee shall distribute
the balance of the trust property to such beneficiary's then living
descendants per stirpes.
If such beneficiary has no then living descendants, my Trustee shall
distribute the balance of the trust property to my then living descen-
dants per stirpes.
If I have no then living descendants, my Trustee shall distribute the
balance of the trust property as provided for in the Articles that follow.
b, Distribution of Trust Share for MELODY A. PORTER
The trust share set aside for MELODY A. PORTER shall be held, administered and
distributed as follows:
1. Distributions of Net Income
I
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My Trustee shall immediately pay to, or apply for the
benefit of such beneficiary all accumulated net income, free
of the trust.
2. Distributions of Principal
My Trustee shall immediately pay to, or apply for the
beuefit of, MELODY A. PORTER all accumulated net income
and principal, free of the trust.
3. Distribution on Death of Beneficiary
.i
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'. If such beneficiary should die before the complete distribution of the
trust share, such trust shall terminate and my Trustee shall distribute
the balance of the trust property to such beneficiary's then living
descendants per stirpes.
\
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If such beneficiary has no then living descendants, my Trustee shall
distribute the balance of the trust property to my then living descen-
dants per stirpes.
If I have no then living descendants, my Trustee shall distribute the
balance of the trust property as provided for in the Articles that follow.
Section 3.
Distribution of Trust Share fOl' Descendant of Deceased Child
My Trustee shall promptly distribute, free of the trust, all accumulated net income and principal
of the trust share set aside for each of my deceased children to their descendants, if any, per
stirpes.
If any such descendant dies before the complete distribution of his or her trust share, that
descendant's trust share shall terminate and my Trustee shall distribute the balance of the trust
property to such descendant's then living descendants, per stirpes. If such descendant has no then
living descendants, my Trustee shall distribute the balance of the trust property to my then living
descendants, per stirpes. If I have no then living descendants, our Trustee shall distribute the
balance of the trust property as provided for in the Articles that follow.
"-
Section 4.
Distributions to Underage or Disabled Beneficiaries
Notwithstanding any other provision in this trust agreement, if any person otherwise entitled to
receive a distribution of trust property is under 25 years of age or is mentally disabled or legally
incompetent as defined in Article Twelve, my Trustee shall retain and administer that person's
trust property for his or her benefit as follows:
a. My Trustee's Discretion
My Trustee may pay to or apply for the benefit of such beneficiary so much of
the net income and principal of the trust as my Trustee, in its discretion, deems
proper considering all other sources of income and resources available to such
beneficiary and known to my Trustee.
,
:..._-
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b.
Payments Made to Beneficiary or Personal Representative
My Trustee is authorized to make payments under this Section either directly to
the beneficiary, to the beneficiary's personal representative or to any other
person my Trustee may deem proper to be used for the benefit of the
beneficiary.
c. Trustee's Decisions are Final
All decisions by my Trustee as to those it makes payment to, the purposes for
which these payments are made, and the amounts to be paid out of the trust are
within my Trustee's sole but reasonable discretion.
d. Undistributed Net Income
All undistributed net income shall be accumulated and added to the principal of
the trust.
e. Termination and Distribution
,
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My Trustee shall distribute the trust property to a beneficiary under this Section
when such beneficiary reaches age 25, or when he or she is no longer disabled
as determined by a court of competent jurisdiction, or upon certification by two
licensed physicians that such beneficiary is able to properly care for his or her
property and person.
f. Death of Disabled or Underage Beneficiary
Upon the death of a beneficiary under this Section, my Trustee shall distribute
all of such beneficiary's remaining trust share, including the trust principal and
accrued and undistributed income, to any person or entity, and upon any trust,
terms, and conditions, or to or in favor of the estate of such deceased
beneficiary, as he or she may direct by his or her last will or living trust
agreement. No exercise of this general power of appointment shall be effective
unless it refers to this trust agreement and expressly indicates an intention to
exercise this general power of appointment.
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Article Twelve
Distribution if No Designated Beneficiaries
NONE
'\;........
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Article Thirteen
Trustee Administration
Section 1.
Co-Trustees to Act by Majority Vote
At any time that there are two or more Trustees serving under this agreement they shall act by
majority vote and any exercise of a power or discretion by a majority of the Trustees shall have
the same effect as an exercise by all of them.
If the Trustees are not able to reach agreement on any decision as set forth in this Section they
shall petition a court of competent jurisdiction for instructions and shall take no action on the
disputed matter until a court order deciding the issue has been rendered.
Section 2.
Power to Delegate
Notwithstanding any other provision of this agreement, anyone or more of the Co-Trustees
serving under this agreement may from time to time delegate to another Co-Trustee or Co-
Trustees routine acts of trust administration.
~'...~....-"
Section 3.
No Bond Required
No Trustee under this agreement shall be required to post any bond for the faithful performance
of its responsibilities.
Section 4.
Trustee Compensation
My Trustee shall be entitled to reasonable compensation for services rendered payable without
the need for a court order. In calculating the amount of compensation customary charges for
similar services in the same geographic area for the same time period shall be used as guidelines.
My Trustee shall also be entitled to reimbursement for reasonable costs and expenses incurred
during the exercise of its duties under this agreement.
Any corporate fiduciary shall be entitled to receive compensation for its services in accordance
with its published fee schedule in effect from time to time.
'--
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Section 5.
Change in Corporate Trustee
Any corporate successor to the trust business of any corporate Trustee named under this
agreement or acting hereunder shall succeed to the capacity of its predecessor without
reconveyance or transfer of trust property.
Section 6.
Power to Divide or Combine Trusts
My Trustee shall have the power to divide a single trust into separate shares each to be
administered in accordance with the terms and conditions of the single trust from which they
were created when my Trustee in its discretion determines that division is desirable or advisable
in view of tax considerations, including considerations related to the income tax, the gift tax, the
estate tax or the generation-skipping transfer tax or other objectives of the trusts and their
beneficiaries.
My Trustee shall not be required to make a physical segregation or division of the various trust
shares created under this trust agreement except as segregation or division may be required by
reason of the termination and distribution of any of the trusts, but my Trustee shall keep separate
accounts and records for different undivided interests.
My Trustee in its discretion shall have the further power to combine two or more trusts having
substantially the same terms into a single trust for purposes of administration when tax or other
"'- factors indicate that such combination would be desirable or advisable.
In deciding whether to combine trusts, my Trustee should consider the generation-skipping
"inclusion ratio" of the trusts to be combined. Trusts having the same inclusion ratios may be
combined. Trusts having different inclusion ratios should generally not be combined unless their
inclusion ratios are maintained unchanged through substantially separate and independent shares
of different beneficiaries within the meaning of LR.C. Section 2654(b), and the applicable
regulations thereunder.
Specifically, my Trustee has the authority to allocate any portion of my exemptions under Internal
Revenue Code Section 263 1 (a) to property as to which I anl the transferor, including any property
transferred by ine during my lifetime as to which I did not make an allocation prior to my death,
and my Trustee has the authority to make the special election under Internal Revenue Code
Section 2652(a)(3). If Internal Revenue Code Section 2631 (a) or 2652(a)(3) is not interpreted
as to allow a Trustee to exercise such election, then my personal representatives is authorized to
allocate my exemptions and to exercise the said special election.
If my Trustee considers that any distribution from a trust or share hereunder, other than pursuant
to a power to withdraw or appoint, is a taxable distribution subject to the federal
generation-skipping transfer tax payable by the distributee, my Trustee may increase the
distribution by an amount which my Trustee would estimate to be sufficient to pay that tax, and
--'
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shall charge the same against the trust or share to which the tax relates.
If my Trustee considers that any termination of an interest in the trust property hereunder is a
taxable termination subject to the federal generation-skipping transfer tax, my Trustee may pay
that tax from the portion of the property to which the tax relates, without any adjustment of the
relative interests of the beneficiaries.
Section 7.
Termination of Small Trust
My Trustee shall have the power in its discretion to terminate any trust created under this trust
agreement whenever it becomes so small in relation to the costs of administration as to make
continuing administration uneconomical. Upon termination my Trustee shall distribute the
principal and any accrued or undistributed net income to the income beneficiaries in proportion
to their shares of the income. If no fixed amount of income is payable to specific beneficiaries,
my Trustee shall distribute the principal and any accrued or undistributed net income in equal
shares to those beneficiaries who would then be entitled to income payments from the trust.
Section 8.
Limit on Trustee's Discretion
I.
--
Notwithstanding any language purporting to confer absolute, sole or unrestricted discretion on my
Trustee in exercising any discretionary power with respect to this trust, my Trustee shall at all
times act in accordance with fiduciary principles and shall not act in bad faith or in disregard of
the purposes of my trust.
Nothwithstanding any other provision in this trust agreement, no individual Trustee who is also
a beneficiary hereunder shall have any right, power, duty or discretion concerning this trust if
such right, power, duty or discretion conferred upon such Trustee under this trust agreement is
determined to be a general power of appointment under Internal Revenue Code Section 204 I or
2514 which would cause any assets of this Trust to be included in the estate of such
Trustee-beneficiary. Any such right, power, duty or discretion with such effect shall be null and
void with respect to such Trustee-beneficiary. No Trustee who is under a legal obligation to any
beneficiary of this trust or other person shall under any circumstances partake in any decisions
relating to any discretionary distributions of income or principal of this trust which can be used
for any such legal obligation to any such beneficiary or other person.
Section 9.
Written Notice to Trustee
Until my Trustee receives written notice of any death or other event which triggers the right to
payments from any trust created under this agreement it shall incur no liability for distributions
made in good faith to persons whose interests may have been affected by such event.
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Section 10.
Duty to Account
My Trustee shall render accounts, upon request, to the income beneficiaries under this trust
agreement at least annually, at the termination of a trust created hereunder, and upon a change
in the Trustees in the manner required by law.
Section 11.
No Court Supervision
No trust created under this agreement shall require the active supervision of any state or federal
court.
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Article Fourteen
Trustee Investment Powers
Section 1.
Trustee's Powers
To carry out the purposes of the trusts created under this agreement and subject to any limitations
stated elsewhere in this instrument my Trustee shall have all of the following powers, in addition
to all of the powers now or hereafter conferred on Trustees by law:
a. Retention of Property
My Trustee shall have the power to retain any property received into the trust
at its inception or later added to the trust without regard to whether the trust
investments are diversified as long as my Trustee considers that retention is in
the best interests of the trust or in furtherance of my goals in creating the trust.
My Trustee shall have the power to invest and reinvest in any property that may
be considered by applicable state law to be underproductive or unproductive in
nature, and specifically to be exempt from any minimum income requirements
called for under local law,
',,"--
b.
Additions
My Trustee shall have the power to receive additions to the assets of the various
trusts created under this agreement from any source,
c. Business Participation
My Trustee shall have the power to terminate, to continue or to participate in the
operation of any business enterprise including a corporation a sole proprietorship
or a general or limited partnership and to effect any form of incorporation,
dissolution, liquidation, reorganization including but not limited to
recapitalization and reallocation of classes of shares or other change in the form
of the business enterprise or to lend money or make a capital contribution to any
such business enterprise,
d. 'Permissible Investments
My Trustee shall have the power to invest and reinvest the assets of the trust as
my Trustee may determine to be in the best interests of the trust without
limitation by any law applicable to investments by fiduciaries. The permitted
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investments and reinvestments may include securities such as common or
preferred stock, mortgages, notes, subordinated debentures and warrants of any
corporation and any common trust fund administered by a corporate fiduciary
or other property, real or personal, including savings accounts and deposits and
interests in mutual or money market funds or investment trusts, annuities and
insurance whether or not such investments are unsecured or of a wasting nature.
My Trustee shall have the power to obtain, by purchase or by gift (or by
conversion, reissue, consolidation or by any other means), and hold as an asset
of this trust, policies of insurance on my life or any other beneficiary of this
trust. My Trustee is authorized and empowered to exercise, either before or
after my death, all of the rights, options, elections or privileges exercisable in
connection with such policies. These rights and options should include, but not
be limited to, disability benefits, the right to borrow money with which to pay
premiums (or other charges) on any policy owned by this trust (including any
automatic premium loan feature) or for any other trust purpose, the right to elect
among settlement options offered by the insurance company which issued such
policy, the right to convert such policy to paid-up insurance, extended term
insurance or to any different form of insurance, and the right to arrange for the
automatic application of dividends in reduction of premium payments (or other
charges), with regard to any policy of insurance held in the trust estate.
!
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e.
Dealing with Property
My Trustee shall have the power to acquire, grant or dispose of property,
including puts, calls and options (including options on stock owned by the
estate), for cash or on credit including maintaining margin accounts with brokers
at public or private sale upon such terms and conditions as the fiduciary may
deem advisable and to manage, develop, improve, exchange, partition, change
the character of, abandon property or any interest therein or otherwise deal with
property.
Specifically, my Trustee shall have the power to use and expend the trust income
and principal to conduct environmental assessments, audits, and site monitoring
to determine compliance with any environmental law or regulation thereunder;
to take all appropriate remedial action to contain, clean up or remove any
enviromllental hazard including a spill, release, discharge or contamination,
either on my Trustee's own accord or in response to an actual or threatened
violation of any environmental law or regulation thereunder; to institute legal
proceedings concerning environmental hazards or contest or settle any such legal
proceedings brought by any local, state or federal agency concerned with
environmental compliance, or by a private litigant; to comply with any local,
state or federal agency order or court order directing an assessment, abatement
or cleanup of any environmental hazards; to employ agents, consultants and legal
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counsel to assist or perform the above undertakings or actions; and in general to
take all appropriate actions to prevent, identify, or respond to any actual or
threatened violations of any envirOllluental law or regulation thereunder.
""-"
No Trustee under this trust agreement shall be liable for any loss or depreciation
in value sustained by this trust as a result of the Trustee retaining any property
upon which there is later discovered to be hazardous materials or substances
requiring remedial action pursuant to any federal, state or local environmental
law, unless the Trustee contributed to the loss or depreciation in value through
willful default, willful misconduct, or gross negligence. Moreover, no Trustee
shall be obligated to accept any property on behalf of this trust without first
having the opportunity to satisfy itself, in its sole discretion, that such property
is not contaminated by any hazardous or toxic materials or substances, and that
such property is not being used and has never been used for any activities
directly or indirectly involving the generation, use, treatment, storage, disposal,
release, or discharge of any hazardous or toxic materials or substances. Finally,
such Trustee shall have the power to disclaim any power which, in its sole
discretion, will or may cause such Trustee to be considered an "owner" or
"operator" of property held in our trust estate under the provisions of the
Comprehensive Environmental Response, Compensation and Liability Act
(CERCLA), as amended from time to time. This power to disclaim as contained
herein shall apply to any such power, whether actually set forth under this trust
agreement, incorporated by reference herein, or granted or implied by any statute
or rule of law.
f. Borrowing Authority
My Trustee shall have the power to borrow funds from any person including my
Trustee guarantee indebtedness or indemnify others in the name of the trust and
to secure any such obligation by mortgage, pledge, security interest or other
encumbrance and to renew, extend or modify any such obligation for a term
within or extending beyond the administration of the term of the trust. No
lender shall be bound to see to or be liable for the application of the proceeds
of any obligation and my Trustee shall not be personally liable for any
obligation.
g. Leasing Authority
My Trustee shall have the power to make, renew or amend for any purpose a
lease as lessor or lessee for a term within or beyond the term of the trust with
or without option to purchase.
h.
Natural Resources
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My Trustee shall have the power to enter into any arrangement or agreement
including a lease, pooling or unitization agreement, for exploration, development,
operation, conservation and removal of minerals or other natural resources.
i. Voting Rights
My Tmstee shall have the power to vote a security in person or by general or
limited proxy, to participate in or consent to any voting tmst, reorganization,
dissolution, liquidation or other action affecting any securities and to deposit
securities with and transfer title to a protective or other committee.
j. Title to Assets
My Trustee shall have the power to hold securities and other property in
negotiable form or in the name of a nominee (including "street name" of a
broker) or by deposit to a clearing corporation with or without disclosure of the
Tmstee relationship, but my Trustee shall be responsible for the acts of any
nominee or clearing corporation in connection with the property.
k. Insurance
My Trustee shall have the power to insure the assets of the trust against any risk
and my Trustee against liability with respect to third persons.
"",,"....-
I. Settlement of Disputes
My Trustee shall have the power to payor contest any debt or claim and to
comproinise, release and adjust any debt or claim and to submit any matter to
arbitration.
m. Payment of Expenses
My Trustee shall have the power to pay any tiL'l:eS, assessments, reasonable
compensation of my Trustee and other expenses incurred in the collection,
management, care, protection and conservation of the trust property.
n. Principal and Income
My Trustee shall have the power to allocate items of income or expenditure to
either income or principal and to create reserves out of the income all as
provided by law and to the extent not so provided to allocate or create reserves
as my Trustee in its discretion deems appropriate and my Trustee's decision
made in good faith with respect thereto shall be binding and conclusive on all
persons.
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Notwithstanding the preceding sentence, if the Survivor's Trust (or a share
hereunder) is the beneficiary or owner of a Retirement Account, income earned
after the participant's death in the accolmt shaH be income of the Trust or share,
and if my Trustee is required to pay all of the trust income to a beneficiary, my
Trustee shall collect and pay the income of the account to the beneficiary at least
quarterly (and to the extent that all of the income cannot be collected from the
account, the deficiency shall be paid from the principal of the trust).
o. Division of Trust
My Trustee shall have the power to make any distribution or payment in kind
or in cash or partly in kind and partly in cash and to cause any share to be
composed of cash, property or undivided interests in property different in kind
from any other share either pro rata or non pro rata without regard to differences
in the tax basis of such property and without the requirement of making any
adjustment of the shares by reason of any action taken pursuant hereto.
Any division, allocation, apportionment or valuation of the property to distribute
the assets to or among any of the trusts or beneficiaries shall be made by my
Trustee and the good faith determination of my Trustee shall be binding and
conclusive on all parties.
p. Merger of Trust
_.
If at any time the Trustees are Trw;tees of two or more Trusts or Shares with
substantially the same terms and benefiting the same beneficiaries, created
hereunder, or under any other instrument by the Trustors or by any other person,
the Trustees may commingle the assets of such Trusts or Shares and hold them
as a single Trust or Share.
q. Litigation
My Trustee shall have the power to prosecute or defend actions, suits, claims or
proceedings for the protection or benefit of the trust and my Trustee in the
performance of my Trustee's duties.
r. Employment of Agents
My Trustee shall have the power to employ agents including attorneys,
accountants, investment advisors, custodians, appraisers or others to advise or
assist my Trustee and to delegate to them fiduciary powers and to indemnify
them against liability for positions taken in good faith and with reasonable basis.
s. Corporate Fiduciary
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If any stock of a corporate Trustee or of any affiliate or successor of a corporate
Trustee shall be included in the assets of the trust, the Trustee shall have full
authority in the Trustee's soie discretion and notwithstanding any regulation or
rule of law to the contrary to retain the stock and any increases resulting from
stock dividends and stock splits and from the exercise of purchase rights and the
purchase of fractional shares needed to round out fractional share holdings that
may arise concerning the stock. The Trustee shall vote the stock either directly
or by proxy except to the extent the Trustee is prohibited by law from voting the
stock in accordance with the written instructions of a majority of the living
beneficiaries then entitled to current distributions of income or their personal
representatives. In the event there are no eligible beneficiaries to give
instructions, the Trustee is authorized to vote the stock in the best interests of
the beneficiaries in view of the purposes for which the trust was created.
t. Investment Transactions
With regard to record keeping for investment transactions, my Trustee need not
provide copies of confirmations or similar notifications each time a trade or
investment transaction occurs, but investment transactions shall be set forth in
my Trustee's periodic accounting.
u. Repairs and Improvements
,,-...
My Trustee shall have the power to make ordinary or extraordinary repairs or
alterations in buildings or other structures, to demolish any improvements, to
raze existing or erect new party walls or buildings.
v. Business Personnel
My Trustee shall have the power to elect or employ directors, officers,
employees, partners or agents of any business and to compensate such persons
whether or not any such person is a Trustee, director, officer, partner or agent
of a Trustee or a beneficiary of the trust.
w. Farm or Ranch Propel'ty
With respect to farm or ranch property, my Trustee shall have the power to
participate in and operate any farming (including tree farming) or ranch
operation personally or with hired labor, tenants or sharecroppers to lease any
farm for cash or a share of crops under a lease which permits or precludes the
material participation of my Trustee, to fertilize and improve the soil, to employ
conservation practices, and to participate in government programs and to perform
any other acts deemed necessary or desirable to operate the property. In making
a decision whether to materially participate in fanning or ranch operations, my
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Trustee shall consider whether an election should be made or has been made
under IRC S 2032A to qualify for special farm-use valuation.
x. Ancillary Trustees
If for any reason my Trustee deems it advantageous to act through an ancillary
Trustee, my Trustee may designate an ancillary personal representative or
Trustee qualified to serve in the jurisdiction where such ancillary Trustee is to
act and may delegate to such ancillary Trustee such of the powers granted under
this agreement as my Trustee deems advisable without being chargeable with
loss if any arising out of snch designation or delegation. My Trustee may
specify whether any corporate Trustee or any person or persons acting in an
ancillary capacity hereunder shall serve with or without bond. Except as may
be otherwise specifically provided, no ancillary Trustee need comply with the
provisions of any Uniform Trustee's Accounting Act, the Uniform Trust Act or
similar acts ill force in any state where the Trustee may be acting.
y. Retention of Closely Held Interest
'--
My Trustee shall have the power to retain any real estate interests, closely held
securities or affiliated companies or business interests and to sell or dispose of
such interests only after careful consideration and after determining that sale or
disposition is in the existing circumstances in the best interests of the trust or its
beneficiaries.
If at any time, this trust holds any stock in an S corporation, and our Trustee
deems it appropriate for such corporation to maintain its Subchapter Selection,
my Trustee may take all of the necessary actions to segregate the S corporation
stock and assets of this trust, and in my Trustee's sole but reasonable discretion,
and otherwise consistent with the terms of this trust to the greatest extent
possible, may form new trusts and may amend the terms of this trust agreement
as would be necessary to establish Qualified Subchapter S Trusts to hold the said
S corporation stock and assets in compliance with Internal Revenue Code
Sections 136 I (b) and 1361 (d)(3).
~ .
z.
Exercise of Authority
Except as otherwise provided in this agreement, my Trustee shall have the power
to do all acts that might legally be done by an individual in absolute ownership
and control of property.
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Article Fifteen
General Provisions
Section 1.
Spendthrift P,'otection
Neither the principal nor the income of any trust created or contained under this agreement shall
be liable for the debts of a beneficiary nor shall the same be subject to seizure by any creditor
of any beneficiary under any lien or proceeding at law or equity. Except to the extent otherwise
expressly provided in this agreement, no beneficiary shall have authority or power to sell, assign,
transfer, encumber or in any manner to anticipate or dispose of a beneficial interest whether
income or principal. The limitations herein shall not restrict the exercise of any power of
appointment or the right to disclaim by any beneficiary.
Section 2.
The Rule Against Perpetuities
'-
Unless sooner terminated or vested in accordance with other provisions of this agreement, all
interests not otherwise vested including but not limited to all trusts and powers of appointment
created hereunder shall terminate twenty-one (21) years after the death of the last survivor of the
group composed of me and my lineal descendants living on the date of my death. At that time
distribution of all principal and all accrued, accumulated and undistributed income shall be made
to the persons then entitled to distributions of income and in the manner and proportions herein
stated or if not stated equally irrespective of their then attained ages.
Section 3.
. Incompetency and Disability
For all purposes under this agreement a person shall be deemed disabled, incompetent or legally
incapacitated if and so long as a guardian or conservator of his or her person or estate duly
appointed by a court of competent jurisdiction continues to serve, or upon certification by two
licensed physicians that such person is unable properly to care for his or her person or property.
Section 4.
Income and Principal Payments
All payments of income or principal shall be made in such of the following ways as my Trustee
determines appropriate:
15-1
I
~
a.
To each respective beneficiary in person upon his or her personal
receipt;
b. Deposited in any bank to the credit of such beneficiary in any
account carried in his or her name or jointly with another or others;
c. To the parent or legal representative of the beneficiary;
d. To a Custodian under a Uniform Transfers to Minors Act selected by
my Trustee for such period of time under applicable law as our
Trustee determines appropriate;
e. To some near relative, friend or institution having primary
responsibility for the care and custody of the beneficiary;
f.
By my Trustee using such payment directly for the benefit of such
beneficiary; or
g.
To my Trustee of any revocable trust of which the beneficiary is the
Trustor.
Section 5.
Education
'-
For all purposes under this agreement the term "education" shall be given broad interpretation and
may include but not be limited to:
a. High School
Education at public or private elementary or high schools including boarding
schools.
b. College
Undergraduate and graduate study in any and all fields whatsoever whether of
a professional character in colleges or other institutions of higher learning.
c. Specialized Training
Specialized formal or informal training in music, the stage, the handicrafts, the
arts or vocational or trade schools whether by private instruction or otherwise.
.
~
15-2
L
d. Other Educational Activities
Any other activity including foreign or domestic travel which shall tend to
develop fully the talents and potentialities of each beneficiary regardless of age.
Section 6.
No-Contest Clause
If any person or entity, other than me, singularly, or in conjunction with any other person or
entity, directly or indirectly, contests in any court the validity of this trust agreement, including
any amendments thereto, then the right of that person or entity to take any interest in the trust
property shall cease, and that person (and his or her descendants) or entity shall be deemed to
have predeceased me.
Section 7.
Disclaimer by Beneficiary
No beneficiary shall be entitled to accelerate any distribution to tlle beneficiary or to terminate
his or her trust interest and thereafter receive outright distribution by use of a disclaimer.
Section 8.
Simultaneous Death
.- If any beneficiary under this agreement and I die under circumstances in which the order of their
deaths cannot be established, I shall be deemed to have predeceased the beneficiary and this
agreement shall be construed accordingly.
Section 9.
Children and Issue
For purposes of this agreement "children" means the lawful blood descendants in the first degree
of the parent designated and "issue" and "descendants" mean the lawful blood descendants in any
degree of the ancestor designated provided, however, that if a person has been adopted that
person shall be considered a child of such adopting parent and such adopted child and his or her
issue shall be considered as issue of the adopting parent or parents and of anyone who is by
blood or adoption an ancestor of the adopting parent or either of the adopting parents. The terms
"child," "children," "issue," "descendant" and "descendants" or those terms preceded by the terms
"living" or "then-living" shall include the lawful blood descendant in the first degree of the parent
designated even though such descendant is born after the death of such parent.
"~~"
15-3
Lv
Section 10.
Definition of Death Taxes
The term "death taxes" as used in this agreement shall mean all inheritance, estate, succession and
other similar taxes that are payable by any person on account of that person's interest in the estate
of the decedent or by reason of the decedent's death including penalties and interest but excluding
the following:
a.
Any addition to the federal estate tax for any "excess retirement
accumulation" under Internal Revenue Code Section 4980A.
b.
Any additional tax that may be assessed under Internal Revenue Code
Section 2032A.
c.
Any federal or state tax imposed on a generation-skipping transfer as
that term is defined in the federal tax laws unless that generation-
skipping transfer tax is payable directly out of the assets of a trust
created by this instrument.
Section 11.
Words Relating to the Internal Revenue Code
As used in this agreement the words "gross estate," "adjusted gross estate," "taxable estate,"
. "unified credit," "state death tax credit," "maximum marital deduction," "marital deduction,"
"- "pass" and any other word or words which from the context in which it or they are used refer
to the Internal Revenue Code shall have the same meaning as such words have for the purposes
of applying the Internal Revenue Code to my estate.
For purposes of this agreement my "available generation-skipping transfer exemption" means the
generation-skipping transfer tax exemption provided in section 2631 of the Internal Revenue Code
of 1986 as amended in effect at the time of my death reduced by the aggregate of (I) the amount
if any of my exemption allocated to my lifetime transfers by me or by operation of law, and (2)
the amount, if any, I have specifically allocated to other property of my gross estate for federal
estate tax purposes.
For purposes of this trust agreement if at the time of my death I have made gifts with an
inclusion ratio of greater than zero for which the gift tax return due date has not expired
including extensions and I have not yet filed a return, it shall be deemed that my generation-
skipping transfer exemption has been allocated to these transfers to the extent necessary and
possible to exempt the transfers from generation-skipping transfer tax.
Reference to Sections of the Internal Revenue Code and to the Internal Revenue Code shall refer
to the Internal Revenue Code amended to the date of my death.
15-4
i."....
I..
~~.
(
'--
Section 12.
Personal Representative
For purposes of this agreement the term "personal representative" shall mean Trustee, executor,
executrix, administrator, administratrix, conservator, guardian, custodian or any other type of
personal representation.
Section 13.
Gender and Number
In this agreement where appropriate except where the context otherwise requires, the singular
includes the plural and words of any gender shall not be limited to that gender.
Section 14.
Definition of Per Stirpes
As used in this agreement when a distribution to beneficiaries is "per stirpes" it shall mean that
the distributions are to be divided into as many equal shares as there are then-living children of
such beneficiaries and deceased children of such beneficiaries who left then-living descendants.
Each then-living child of the beneficiary shall receive one share and the share that is allocated
to each deceased child of the beneficiary shall be divided equally among such deceased child's
then-living descendants.
Section 15.
Captions
The captions of Articles, Sections and Paragraphs used in this agreement are for convenience of
reference only and shall have no significance in the construction or interpretation of this
agreement.
Section 16.
Severability
Should any of the provisions of this agreement be for any reason declared invalid, such invalidity
shall not affect any of the other provisions of this agreement and all invalid provisions shall be
wholly disregarded in interpreting this agreement.
15-5
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"'-
"-----
Section 17.
Statutory Fleferences
Unless the context clearly requires another construction each statutory reference in this agreement
shall be construed to refer to the statutory section mentioned, related successor sections and
corresponding provisions of any subsequent law including all amendments.
Section 18.
Governing State Law
This agreement and the trusts created under it shall be construed, regulated and governed by and
in accordance with the laws of the State of Pennsylvania.
I have executed this agreement on the date set forth on the first page of this agreement.
I certify that I have read the foregoing revocable living trust agreement and that it correctly states
the terms and conditions under which my trust property is to be held, managed and disposed of
by my Trustee(s). I approve this revocable living trust in all particulars and request my
Trustee(s) to execute it.
-R~a. g~
ROBERT A. PORTER, Trustor
Rcr&J- d. ~
Jn~ t<.. fJ~
,
ROBERT A. PORTER, Trustee
MIRIAM R. PORTER, Trustee
15-6
(...
t,
'-
\.......-
STATE OF PENNSYLVANIA
)
SS
COUNTY OF DAUPH1N ) /J
On this tl~ day of~. ,19~, before me, tlfU'e.. ! .I\e~
the undersigned officer, p~peared ROBERT A. PORTER, Trustor, known to me (or
satisfactorily proven) to be the person whose name is subscribed to the within instrument and
acknowledged that he executed the same for the purposes therein contained.
'U:'reOfI h,,""
Notary Public
set my hand and official seal.
-~~--~..-_.
.-'--- "'["'!11f>1 ~/:I\l,_
nil {:.,'.p'..- - "',' \"J bl'o ,
, I~"~"'''' n,y,,,,,I( \ 1.1 I., \
CG~F,JrE 1... ',C:"Y:, "J.~('-!.('\ nl" i;
. .., _ ..~'\ p"'~7'\,;f~ _),Il"'J , ,
\',"v (~:~~~i?~~~~.;..~~J:~::~~~~'~~~~~:~l..j,
Title of Officer
STATE OF PENNSYLVANIA
)
SS
(l~ i iJ:~
COUNTY OF DAUPHIN )
On this th~ day of Ckl( . I~, before me,
the under;~fficer, ~onally appeared ROBERT A. PORTER, and MIRIAM R. PORTER,
Trustees, known to me (or satisfactorily proven) to be the persons whose names are subscribed
to the within instrument and acknowledged that they executed the same for the purposes therein
contained.
Ito set my hand and official seal.
Notary Public
Title of Officer
r,r[JT,\qL~..L ~;,r:)!.
elJl'lnn:!... HT':':C., \'k\\~\(! f'~,~b\L~
H[;r::.!wr, Fi\ '->H"li'lI
f._r'J f-:I!m~fl!:' '~':~ r,{i,~~i 10:i'l0(l
15-7
\ /6.- /9;.r7. ?
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
<;1-
/
C/
BUREAU OF INDIVIDUAL TAXES
INHERITANCE TAX DIVISION
DEPT. 280601
HARRISBURG, PA 17128-0601
NOTICE OF INHERITANCE TAX
APPRAISE"ENT, ALLOWANCE OR DISALLOWANCE
OF DEDUCTIONS AND ASSESS"ENT OF TAX
DONNA M MULLIN
JAMES ETAL
134 SIPE AVE
HUMMELSTOWN
ESQ
DATE
ESTATE OF
DATE OF DEATH
FILE NUMBER
COUNTY
ACN
03-05-2001
PORTER
04-02-2000
21 01-0002
CUMBERLAND
101
*'
REY-1547 E_ AFP Cl2-DDl
ROBERT
A
Allount Rellitted
PA.) 7036-2300
.., ',.
MAKE CHECK PAYABLE AND REMIT PAYMENT TO:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR RECORDS ~
REV=is4j-EX-AFP-fi'2=iior-NOYiCE--OF-YNHERifANCE-YAX-APPRAisEMENT~--Ai:.rOWANCE-ifR-----------------
DISALLOWANCE OF DEDUCTIONS AND ASSESSMENT OF TAX
ESTATE OF PORTER ROBERT A FILE NO. 21 01-0002 ACN 101 DATE 03-05-2001
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)
2. Stocks and Bonds (Schedule B)
3. Closely Held Stock/Partnership Interest (Schedule C)
4. "ortgages/Notes Receivable (Schedule D)
5. Cash/Bank Deposits/"isc. Personal Property (Schedule E)
6. Jointly Owned Property (Schedule F)
7. Transfers (Schedule G)
8. Total Assets
(1)
(2)
(3)
(4)
(5)
(6)
(7)
.00
.00
.00
.00
.00
.00
1,296,984.48
(8)
APPROVED DEDUCTIONS AND EXEMPTIONS:
9. Funeral Expenses/Adn. Costs/"isc. Expenses (Schedule H)
10. Debts/"ortgage Liabilities/Liens (Schedule I)
11. Total Deductions
12. Net Value of Tax Return
13. Charitable/Governllental Bequests; Non-elected 9113 Trusts (Schedule J)
14. Net Value of Estate Subject to Tax
(9)
(10)
11, 138.98
.00
(1)
(2)
(3)
(4)
NOTE: To insure proper
credit to your account,
subllit the upper portion
of this forll with your
tax paYllent.
1,296,984.48
11 . 138 98
1,285,845.50
1,093,220.98
192,624.52
I~ an assessment was issued previously, lines
re~lect ~igures that include the total o~ ALL
ASSESSMENT OF TAX:
15. Amount of Line 14 at Spousal rate
16. Allount of Line 14 taxable at Lineal/Class A rate
17. Allount of Line 14 at Sibling rate
18. Allount of Line 14 taxable at Collateral/Class B rate
19. Principal Tax Due
TAX CREDITS:
14, 15 and/or 16, 17, 18 and 19 will
returns assessed to date.
192,624.52 X 00 = .00
.00 X 06 .00
.00 X 00 = .00
.00 X 15 = .00
(9)= .00
NOTE:
(1S)
(16)
(17)
(18)
PAYMENT RECEIPT DISCOUNT (+) AMOUNT PAID
DATE NU"BER INTEREST/PEN PAID (-)
. TOTAL TAX CREDIT .00
BALANCE OF TAX DUE .00
INTEREST AND PEN. .00
TOTAL DUE .00
* IF PAID AFTER DATE INDICATED, SEE REVERSE
FOR CALCULATION OF ADDITIONAL INTEREST.
IF TOTAL DUE IS LESS THAN $1, NO PAY"ENT IS REQUIRED.
IF TOTAL DUE IS REFLECTED AS A "CREDIT" (CR), YOU "AY BE DUE
A REFUND. SEE REVERSE SIDE OF THIS FOR" FOR INSTRUCTIONS.)
I~_/~(J_ 7
BUREAU of1NDtGIDUAL TAXES
INHERITANCE TAX DIVISION
DEPT. 28060 1
HARRISBURG, PA 17128-0601
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
NOTICE OF DETERMINATION AND
ASSESSMENT OF PENNSYLVANIA
ESTATE TAX BASED ON FEDERAL
ESTATE TAX RETURN
s~
C/
REV-4U EX ~FP {12.-00>
DONNA M MULLIN
JAMES ETAL
134 SIPE AVE
HUMMELSTOWN
ESQ
DATE
ESTATE OF
DATE OF DEATH
FILE NUMBER
c~ COUNTY
ACN
03-12-2001
PORTER
04-02-2000
21 01-0002
CUMBERLAND
201
ROBERT
A
Amount Remi Hed
r..,.
PA 17 0'36
MAKE CHECK PAYABLE AND REMIT PAYMENT TO:
REGISTER OF WILLS
CUMBERLAND CO COURT HOUSE
CARLISLE, PA 17013
NOTE: To insure proper credit to your account, submit the upper portion of this form with your tax payment.
CUT ALONG THIS LINE ~ RETAIN LOWER PORTION FOR YOUR FILES ~
RE-V=483--EX--AFP--(i2~-OO)-----.ii-No-ficif-oF--DETifRMIiiATI()N-AiiD-A~sES~MENT-----------------------------
OF PENNSYLVANIA ESTATE TAX BASED ON FEDERAL ESTATE TAX RETURN ..
ESTATE OF PORTER
ROBERT
A FILE NO.21 01-0002
ACN 201
DATE 03-12-2001
ESTATE TAX DETERMINATION
1. Credit For State Death Taxes as Verified
.00
2. Pennsylvania Inheritance Tax Assessed
(Excluding Discount and/or Interest)
.00
3. Inheritance Tax Assessed by Other States
or Territories of the United States
(Excluding Discount and/or Interest)
.00
4. Total Inheritance Tax Assessed
.00
5. Pennsylvania Estate Tax Due
.00
TAX CREDITS:
PAYMENT RECEIPT DISCOUNT (+) AMOUNT PAID
DATE NUMBER INTEREST/PEN PAID (-)
TOTAL TAX CREDIT .00
BALANCE OF TAX DUE .00
INTEREST AND PEN. .00
TOTAL DUE .00
*IF PAID AFTER THIS DATE, SEE REVERSE SIDE (IF TOTAL DUE IS LESS THAN $1, NO PAYMENT IS REQUIRED
FOR CALCULATION OF ADDITIONAL INTEREST. IF TOTAL DUE IS REFLECTED AS A "CREDIT" (CRl, YOU MAY BE
DUE A REFUND. SEE REVERSE SIDE OF THIS FORM FOR INSTRUCTIONS.)