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Home My WebLink About01-12-15 (2) IN THE ORPHANS' COURT DIVISION u OF THE COURT OF COMMON PLEAS OF � rn CUMBERLAND COUNTY, PENNSYLVANIA ESTATE OF MARIE L. ZACK, DECEASED f �- ry ' ZI" No. 2013-00943 c;)_ c.:a � -=3 APPROVAL OF ACCOUNT, WAIVER, RECEIPT, = ►-� RELEASE AND AGREEMENT OF INDEMNITY o The circumstances leading up to the execution of this instrument are as follows: 1. Marie L. Zack died on July 22, 2013, leaving a Will dated July 7, 1978, naming William Francis Zack, Raymond Andrew Zack, and Gerard Matthew Zack as Co-Executors. 2. After the renunciation of Raymond Andrew Zack and Gerard Matthew Zack, Letters Testamentary were granted to William Francis Zack by the Register of Wills of Cumberland County on September 5, 2013. 3. It is the desire of the Marie L. Zack heirs that the Estate be distributed without the formality of a court proceeding in order to save the expense, publicity, and delay incident to such court proceeding, and the Executor is willing to make such distribution upon the execution of this instrument. 4. An account of the administration of the Estate of Marie L. Zack has been prepared by the Executor. A copy is attached hereto as Exhibit A. 5. In consideration of the foregoing, each of the undersigned hereby: A. Represents and warrants that he has read and understands this instrument and that the facts set forth above are true and correct to the best of his knowledge, information and belief; -1- B. Declares that he has examined the attached account of the administration of the Estate and the attached schedule of distribution; that he finds them to be true and correct in all particulars; that he accepts and approves them as if they had been duly filed, audited, adjudicated and confirmed absolutely by the Orphans' Court Division of the Court of Common Pleas of Cumberland County, and as if the amounts shown as distributable had been duly awarded to him; C. Waives the filing and auditing of the account of the administration of the Estate in the Orphans' Court Division of the Court of Common Pleas of Cumberland County, and agrees that the Orphans' Court Division of the Court of Common Pleas of Cumberland County may by its decree confirm the account and approve the schedule of distribution; D. Requests the Executor to make distribution of the principal and income in accordance with the schedule of distribution, and effective upon delivery to him of the amounts shown as respectively distributable, acknowledges receipt of such property; E. Agrees to refund to the Executor any amount which may at any time be determined to have been an erroneous distribution to him, regardless of the cause of such erroneous distribution, even if attributable to negligence, and agrees that any period for the limitation of actions for the collection of any erroneous distribution shall commence'only at such time as the Executor shall have obtained actual knowledge of such erroneous distribution and that in no event shall the period for collection of any erroneous distribution be less than two years after the actual discovery thereof; F. Absolutely and irrevocably remises, releases, quitclaims and forever discharges William Francis Zack, individually and in his capacity as Executor, from'any and -2- E all actions, suits, payments, accounts, reckonings, liabilities, claims and demands relating in any way to the administration of the Marie L. Zack Estate; G. Agrees to indemnify and hold harmless, to the extent of the funds received by him hereunder, William Francis Zack, individually and in his capacity as Executor, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which he may suffer or to which he may be subjected by reason of his administration of the Estate, the settlement of his Executor's account and the distribution of the assets of the Estate.without having the formal approval of the Orphans' Court Division of the Court of Common Pleas of Cumberland County, including, but not limited to, any liability for any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with interest and costs incidental thereto, relating in any way to the Estate; and H. Declares it to be his intention that this instrument, consisting of three pages, shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him and upon his heirs, executors, administrators and assigns; I. Agrees that this agreement may be executed in counterparts. Executed on: /2 2 0 'Z,C>! (Seal) LATE W LLLs M . RANCIS ZA (Seal) DATE RAYMOND ANDREW ZACK (Seal) DATE GERARD MATTHEW ZACK -3- .... p r ... .., ..._V _+e..r.-..•...e--=..wT+«.+..a�.s+,.w,.ae:�wrw,.n..,._......•�..�,.. _ ..�_..�. i ....,`..«.:..��. ..... � _ «.., ..-�- a.,_ ....�...e.,.x.'.-��.. .w�k.....,�M,>+...«�.� „x.. ��rs�.:-e.-. � � k r ?l .. �. J all actions, suits, payments, accounts, reckonings, liabilities, claims and demands relating in any way to the administration of the Marie L. Zack Estate; G. Agrees to indemnify and hold harmless, to the extent of the funds received by him hereunder, William Francis Zack, individually and in his capacity as Executor, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which he may suffer or to which he may be subjected by reason of his administration of the Estate, the settlement of his Executor's account and.the distribution of the assets of the Estate without having the formal approval of the Orphans' Court Division of the Court of Common Pleas of Cumberland County, including, but not limited to, any liability for any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with interest and costs incidental thereto, relating in any way to the Estate; and H. Declares it to be his intention that this instrument, consisting of three pages, shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him and upon his heirs, executors, administrators and assigns; I. Agrees that this agreement may be executed in counterparts. ` Executed on: (Seal) DATE WILLIAM FRANCIS ZACK (Seal) DATE RAYMOND ANDREW ZACK (Seal) DATE GERARD MATTHEW ZACK -3- I all actions, suits, payments, accounts, reckonings, liabilities, claims and demands relating in any way to the administration of the Marie L. Zack Estate; G. Agrees to indemnify and hold harmless, to the extent of the funds received by him hereunder, William Francis Zack, individually and in his capacity as Executor, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which he may suffer or to which he may be subjected by reason of his administration of the Estate, the settlement of his Executor's account and the distribution of the assets of the Estate without having the formal approval of the Orphans' Court Division of the Court of Common Pleas of Cumberland County, including, but not limited to, any liability for any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with interest and costs incidental thereto, relating in any way to the Estate; and i H. Declares it to be his intention that this instrument, consisting of three pages, shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him and upon his heirs, executors, administrators and assigns; I. Agrees that this agreement may be executed in counterparts. Executed on: (Seal) DATE WILLIAM FRANCIS ZACK (Seal) DATE RAYMOND ANDREW ZACK 12-(22 /Y 1 (Seal) DATE GERARD MA EW ZACK -3- BEFORE THE REGISTER OF WILLS, CUMBERLAND COUNTY, PENNSYLVANIA No. 2013-00943 FIRST AND FINAL ACCOUNT OF William Francis Zack, Executor For ESTATE OF MARIE L.ZACK, Deceased Date of Death: July 22, 2013 Date of Executor's Appointment: September 5, 2013 Accounting for the Period: September 5, 2013 to November 30, 2014 PURPOSE OF ACCOUNT: William Francis Zack, Executor, offers this Account to acquaint interested parties with the transactions that have occurred during his administration. The Account also indicates the proposed distribution of the Estate. It is important that the Account be carefully examined. Requests for additional information or questions or objections can be discussed with: Debra K.-Wallet, Esquire 24 N. 32nd Street Camp Hill, PA 17011 I.D. #23989 (717) 737-1300 EXHIBIT A SUMMARY OF ACCOUNT Fiduciary Current Acquisition Page Value Value Proposed Distribution to Beneficiaries 7 $ 171,870.73 PRINCIPAL Receipts 2-3 $ 376,778.98 Net Loss on Sales or Other Dispositions Less Disbursements Debts of Decedent 4 $ 9,526.46 Funeral Expenses 4 2,622.34 Administration Expenses 4 599.70 Federal and State Taxes 4 15,006.00 Fees and Commissions 4 5,000.00 $ 32,754.50 Principal Balance on Hand $ 344,024.48 INCOME Receipts 5 $ 703.37 Income Balance on Hand 703.37 Balance Before Distributions $ 344,727.85 Distributions to Beneficiaries 6 172,857.12 Combined Balance on Hand $ 171,870.73 Page 1 RECEIPTS OF PRINCIPAL Assets Listed in Inventory: (Value as of Date of Death) Cash and Bank Deposits: Members 1st Checking Acct. #354053-11 $ 1,606.17 Members 1st Savings Acct. #354053-00 5.00 Members 1st Acct. #354053-40 CD 46,637.70 Members 1 st Acct. #354053-49 CD 24,100.24 Members 1st Acct. #354053-50 CD 26,667.52 Members 1st Acct. #354053-51 CD 63,537.25 Members 1st Acct. #354053-52 CD 20,704.59 Members 1st Acct. #354053-53 CD 25,729.66 Santander Bank Checking Acct. #0571203175 1,374.02 Santander Bank Money Market Acct. #2334089117 27,439.30 Santander Bank Savings Acct. #0574107835 1,577.90 Santander Bank CD Acct. #0575539002 60,175.46 Santander Bank CD Acct. #7675790979 37,304.30 Wells Fargo Checking Acct. #1000615423026 26,547.18 U.S. Treasury Deposit 2,461.86 $ 365,868.15 Refunds: Renter's insurance refund $ 97.64 Alert Pharmacy Services refund 27.28 $ 124.92 Page 2 i TOTAL ASSETS LISTED IN INVENTORY: $ 365,993.07 Receipts Subsequent to Inventory (Valued When Received) Parthemore Funeral Home refund $ 206.63 PA Inheritance Tax refund 89.64 Half of Wells Fargo Joint Checking#1436 50.00 Half of Wells Fargo Joint CD#0776 10,439.64 $ 10,785.91 TOTAL RECEIPTS OF PRINCIPAL: $ 376,778.98 Page 3 DISBURSEMENTS OF PRINCIPAL Debts of Decedent: Date: Messiah Lifeways (final bill) 9/24/13 $ 7,064.60 Office of Personnel Mgt. (U.S. Treasury) 8/7/13 2,461.86 $ 9,526.46 refund of 7/13 payment Funeral Expenses: Catholic Cemeteries 9/17/13 $ 1,085.00 Metalaye Enterprises(funeral reception) 9/17/13 1,537.34 $ 2,622.34 Administration Expenses: Probate Fees 9/30/13 $ 413.50 5/3/14 50.00 Attorney's postage, copies, mileage, etc. 40.00 Santander Bank (charge for statement of 12/3/13 20.00 date of death values) Capital Area Health Assoc. (Medicare 9/21/14 66.20 error) Reserve for Filing of Account 10.00 $ 599.70 Federal and State Taxes: PA Inheritance Tax 10/8/13 $ 15,000.00 PA Dept. of Revenue-2013 fiduc. taxes 4/28/14 1.00 Reserve for 2014 fiduciary taxes 5.00 $ 15,006.00 Fees and Commissions: Debra K. Wallet, Esq.--Attorney Fees 4/25/14 $ 2,500.00 2,500.00 $ 5,000.00 Page 4 fi RECEIPTS OF INCOME Interest: Members 1 st Estate Checking Acct. 9/30/13 $ 5.62 10/31/13 7.70 11/30/13 7.27 12/31/13 7.51 1/31/14 7.51 2/28/14 6.78 3/31/14 7.51 4/30/14 7.25 5/31/14 7.40 6/30/14 7.17 7/31/14 7.40 8/31/14 7.40 9/30/14 7.17 10/31/14 7.41 11/30/14 7.17 Members 1 st#354053-49 CD (Aug-Sep 2013) 10.70 Members 1 st#354053-50 CD (Aug-Sep 2013) 10.97 Members 1st#354053-51 CD (Aug-Sep 2013) 25.64 Members 1st#354053-52 CD (Aug-Sep 2013) 8.15 Wells Fargo CD#0776&#1000615423026 (2013) 539.64 TOTAL RECEIPTS OF INCOME: $ 703.37 Page 5 DISTRIBUTION TO BENEFICIARIES TO: William Francis Zack 1504 Capitol View Drive New Cumberland, PA 17070 11/22/2013 $ 57,619.04 Gerard Matthew Zack 7 Shipwright Court Gaithersburg, MD 20877 11/22/2013 57,619.04 Raymond Andrew Zack 7804 Rainbow Falls Drive Frisco, TX 75034 10/25/2013 57,619.04 TOTAL DISTRIBUTION TO BENEFICIARIES: $ 172,857.12 Page 6 i ,. t _ - _. `.. y'' r f d PROPOSED DISTRIBUTION TO BENEFICIARIES TO: William Francis Zack 1504 Capitol View Drive New Cumberland, PA 17070 $ 57,290.25 Gerard Matthew Zack 7 Shipwright Court Gaithersburg, MD 20877 57,290.24 Raymond Andrew Zack 7804 Rainbow Falls Drive Frisco, TX 75034 57,290.24 TOTAL PROPOSED DISTRIBUTION TO BENEFICIARIES: $ 171,870.73 Page 7 t eL.aw��ice6 0� DEBRA K.WALLET 24 N.32nd STREET CAMP HILL,PA 17011-2917 PHONE:(717)737-1300 E mail:walletdeb@aol.com FAX:(717)761-5319 December 29, 2014 c5 � Lisa M. Grayson, Register of Wills C_ rra c� Cumberland County Courthouse , = ; 1 Courthouse Square f w w Carlisle, PA 17013 .: ` r ) RE: Estate of Marie L. Zack ? r ' Will No. 2013-00943 } C-n cn ca Dear Ms. Grayson: v Enclosed for filing are the original "Approval of Account, Waiver, Receipt, Release, and Agreement of Indemnity" and the final Status Report Under Rule 6.12 for the above captioned Estate, along with the filing fee of W.00. AD I have also enclosed two copies of the front page of each of these documents to be clocked-in and returned to my office in the self-addressed, stamped envelope provided. As always, should you have any questions about any of these documents, please feel free to telephone my office. Thank you for your assistance. Sincerely yours, xk«ie. Debra K. Wallet DKW/mm Enc. cc: William Francis Zack, Executor