Loading...
HomeMy WebLinkAbout01-28-15 REV-1500 EX(02-11) .1 1505610143 PA Department of Revenue OFFICIAL USE ONLY p Pennsylvania County Code Year File Number Bureau of Individual Taxes DEPARTMENT OF REVENUE PO BOX.280601 INHERITANCE TAX RETURN 21 14 0593 Harrisburg, PA 17128-0601 RESIDENT DECEDENT ENTER DECEDENT INFORMATION BELOW Social Security Number Date of Death Date of Birth 05 01 2014 12 31 1940 Decedent's Last Name Suffix Decedent's First Name MI SEXTON KATHERINE R (If Applicable)Enter Surviving Spouse's Information Below Spouse's Last Name Suffix Spouse's First Name MI SEXTON H. JAY Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE REGISTER OF WILLS FILL IN APPROPRIATE OVALS BELOW X❑ 1. Original Return 2. Supplemental Return 3. Remainder Return(Date of Death Prior to 12-13-82) ❑ 4. Limited Estate 4a.Future Interest Compromise 5. Federal Estate Tax Return Required (date of]death after 12-12-82) F 6 Decedent Died Testate 7. Aecedhec M int fined a Living Trust 0 8. Total Number of Safe Deposit Boxes (Attach Copy of Will) 9. Litigation Proceeds Received 10.S ousal Povert Credit(Date of Death 11.Election to tax under Sec.9113(A) b�tween12-31. and 1-1-95) (Attach Schedule O) CORRESPONDENT-THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO: Name Daytime Telephone Number GEORGE F DOUGLAS III ESQ 717 249 6333 REGISTA OF WILLS,UASE ON_'LYfM`1"1 C7 f t 1 C-,) :7J C__ C _.Z3 First Line of Address r\,l 354 ALEXANDER SPRING RO rg CX.) Second Line of Address = 4r ;P1: _ DATE FILEDry City or Post Office State ZIP Code i r- G� CARLISLE PA 17015 cn Correspondent's e-mail address: gdouglas[aD_salzmannhughes.com 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 knowledge. SIGNATURE OF ER ON RESPONSIBLE FOR FILING RETURN DATE H.Jay Sexton ADDRESS 4 Michaux Oaks Rd., Gardners PA 17324 SIGNATURE 0 PREPARER OTHER LHAN REPRES TATIVEDATE r-- g- George F. Douglas, III, Esquire (J ADDRESS 354 Alexander Spring Road, Suite 1, Carlisle, PA 17015 Side 1 1505610143 1505610143 1505610243 REV-1500 EX Decedent's Social Security Number Decedent's Name: Sexton, Katherine R. RECAPITULATION 1. Real Estate(Schedule A)....................................................................................... 1. 2. Stocks and Bonds(Schedule B)............................................................................. 2. 649, 984 . 06 3. Closely Held Corporation,Partnership or Sole-Proprietorship(Schedule C)......... 3. 4. Mortgages&Notes Receivable(Schedule D)........................................................ 4. 5. Cash,Bank Deposits&Miscellaneous Personal Property(Schedule E)............... 5. 131 , 160 . 93 6. Jointly Owned Property(Schedule F) ❑ Separate Billing Requested............ 6. 7. Inter-Vivos Transfers&Miscellaneous N,aq Probate Property (Schedule G) u Separate Billing Requested............ 7. 34 ,246. 86 8. Total Gross Assets (total Lines 1 through 7)........................................................ 8. 815, 391 . 85 9. Funeral Expenses and Administrative Costs(Schedule H).................................... 9. 171712 . 92 10. Debts of Decedent,Mortgage Liabilities and Liens(Schedule 1)............................ 10. 11. Total Deductions(total Lines 9 and 10)................................................................ 11. 17 , 712 . 92 12. Net Value of Estate(Line 8 minus Line 11).......................................................... 12. 797 , 678 . 93 13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been made(Schedule J)............................................... 13. 14. Net Value Subject to Tax(Line 12 minus Line 13)............................................... 14. 797 , 678 . 93 TAX COMPUTATION-SEE INSTRUCTIONS FOR APPLICABLE RATES 15. Amount of Line 14 taxable at the spousal tax rate,or transfers under Sec.9116 (a)(1.2)X.00 798 103 . 93 15. 0 . 00 16. Amount of Line 14 taxable at lineal rate X .045 0 . 00 16. 0 . 00 17. Amount of Line 14 taxable at sibling rate X.12 0 . 00 17. 0 . 00 18. Amount of Line 14 taxable at collateral rate X.15 0 . 00 18. 0 . 00 19. TAX DUE................................................................................................................ 19. 0 . 00 20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT. ❑ Side 2 1505610243 1505610243 J REV-1500 EX Page 3 File Number 21-14-0593 Decedent's Complete Address: DECEDENT'S NAME Sexton, Katherine R. STREET ADDRESS 4 Michaux Oaks Rd. CITY STATE ZIP Gardners PA 17324 Tax Payments and Credits: 1. Tax Due(Page 2, Line 19) (1) 0.00 2. Credits/Payments A. Prior Payments B. Discount 0.00 Total.Credits(A +B) (2) 0.00 3. Interest (3) 4, If Line 2 is greater than Line 1 +Line 3,enter the difference. This is the OVERPAYMENT. (4) Check box on Page 2,Line 20 to request a refund 5.. If Line 1 +Line 3 is greater than Line 2,enter the difference. This is the TAX DUE. (5) 0.00 Make Check Payable to: REGISTER OF WILLS AGENT. 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;............................................................................... ❑x b. retain the right to designate who shall use the property transferred or its income;.... ......................... El F-1 c. ncome:.................................. F-1c. retain a reversionary interest;or............................................................................................................... M. d. receive the promise for life of either payments,benefits or care?.... ............_............._........... ❑ ❑x 2. If death occurred after Dec. 12, 1982, did decedent transfer property within one year of death without receiving adequate consideration?.................................................................................................................... ❑ ❑x 3. Did decedent own an"in trust for" or payable upon death bank account or security at his or her death?....... ❑ ❑x 4. Did decedent own an individual retirement account,annuity,or other non-probate property which contains a beneficiary designation?.................................................................................................................. O ❑ IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES,YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN. For dates of death on or after July 1,1994 and before Jan.1,1995,the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3 percent[72 P.S.§9116(a)(1.1)(i)]. 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 percent [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 disclosure of assets and filing a tax return 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 21 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 percent[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 percent,except as noted in[72 P.S.§9116(a)(1)]. • The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12 percent[72 P.S.§9116(a)(1.3)]. 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. Rev-1503 EX+(6-98) SCHEDULE B STOCKS & BONDS COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Sexton, Katherine R. 21-14-0593 All property jointly-owned with right of survivorship must be disclosed on Schedule F. ITEM CUSIP VALUE AT DATE NUMBER NUMBER DESCRIPTION UNIT VALUE OF DEATH Prism Advisory Group LLC.Account No.646-06955 1 00206RI02 400 shares of AT&T 35.58 14.232.00 Accrued dividend on Item I through date of death 184.00 2 075887109 100 shares of Becton Dickinson Co. 111.59 11,159.00 3 110122108 200 shares of Bristol Myers Squibb 49.52 9,904.00 Accrued dividend on Item 3 through date of death 72.00 4 189054109 100 shares of Clorox Co.Del 89.4 8,940.00 Accrued dividend on Item 4 through date of death 71.00 5 191216100 200 shares of Coca Cola Co. 40.78 8,156.00 6 302316102 106 shares of Exxon Mobil Corp. 101.41 10,749.46 7 370334104 45 shares of General Mills Inc. 52.68 2,370.60 Accrued dividend on Item 7 through date of death 18.45 8 372460105 100 shares of Genuine Parts Co. 85.84 8,584.00 9 458140100 600 shares of Intel Corp. 26.45 15,870.00 10 459200101 20 shares of Intl Business Mach 193.53 3,870.60 11 46625H100 45 shares of JP Morgan Chase&Co. 55.72 2,507.40 Total of Continuation Schedule See attached page TOTAL(Also enter on Line 2, Recapitulation) 649,984.06 (if more space is needed,additional pages of the same size) Copyright(c)2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule B(Rev.6-98) Rev-1503 EX+(6-98) SCHEDULE 8 STOCKS & BONDS continued COMMONWEALTHOF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT ESTATE OF FILE NUMBER Sexton, Katherine R. 21-14-0593 ITEM CUSIP VALUE AT DATE NUMBER NUMBER DESCRIPTION UNIT VALUE OF DEATH 12 494550106 100 shares of Kinder Morgan Energy Partners L.P. 75.38 7,538.00 13 580135101 100 shares of McDonald Corp 100.96 10,096.00 14 58933YI05 400 shares of Merck&Co.Inc.New 59.62 23,848.00 15 5949118104 200 shares of Microsoft Corp 40 8,000.00 16 717081103 300 shares of Pfizer Inc. 31.15 9,345.00 17 747525103 100 shares of Qualcomm Inc. 78.99 7,899.00 18 913017109 200 shares of Sector SPDR TR SHS BEN INT Utilities 43.39 8,678.00 19 913017109 20 shares of United Technologies Corp. 116.80 2,336.00 20 92343V104 278 shares of Verizon Communications 47.22 13,127.16 Accrued dividend on Item 20 through date of death 147.34 21 92857W308 163 shares of Vodafone Group 37.29 6.078.27 22 931142103 200 shares of Walmart Stores Inc. 79.70 15,940.00 Prism Jade Fund. L.P.Class B 23 Prism Jade Fund,L.P.Class B-Partner ID No.PRS51 431,770.76 24 153.28551 shares of GlaxoSmithKline plc 55.4 8,492.02 TOTAL(Also enter on Line 2, Recapitulation) 649,984.06 Copyright(c)2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule B(Rev.6-98) Rev-1508 EX+(11-10) SCHEDULE E pennsylvania CASH, BANK DEPOSITS, & MISC. DEPARTMENT OF REVENUE INHERITANCE TAX RETURN PERSONAL PROPERTY RESIDENT DECEDENT ESTATE OF FILE NUMBER Sexton, Katherine R. 21-14-0593 Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of survivorship must be disclosed on schedule F. ITEM VALUE AT DATE NUMBER DESCRIPTION OF DEATH 1 Prism Cash Account No.646-069558 129,496.53 2 Transamerica Life Insurance Company-refund 1,664.40 TOTAL(Also enter on Line 5, Recapitulation) 131,160.93 (If more space is needed,additional pages of the same size) Copyright(c)2010 form software only The Lackner Group,Inc. Form PA-1500 Schedule E(Rev. 11-10) Rev-1510 EX+(08-09) SCHEDULE G pennsylvania INTER-VIVOS TRANSFERS AND DEPARTMENT OF REVENUE INHERITANCE TAX RETURN MISC. NON-PROBATE PROPERTY RESIDENT DECEDENT ESTATE OF FILE NUMBER Sexton, Katherine R. 21-14-0593 This schedule must be completed and filed if the answer to any of questions 1 through 4 on page three of the REV-1500 is yes. ITEM DESCRIPTION OF PROPERTYINCLUDE NAME OF CEDENT AND DATE OF DEATH %OFDECDS EXCLUSION TAXABLE NUMBER HE DATE OF RANSFER. ATTACH A COPEE THEIR YOF THE DEIED FOR REAL ESTATE. VALUE OF ASSET INTEREST (IF APPLICABLE) VALUE 1 Prism Advisory Group, LLC, IRA No.646479780- 34,246.86 100.000% 34,246.86 Beneficiary is H.Jay Sexton, husband TOTAL(Also enter on Line 7, Recapitulation) 34,246.86 (If more space is needed,additional pages of the same size) Copyright(c)2009 form software only The Lackner Group,Inc. Form PA-1500 Schedule G(Rev.08-09) REV-1511 EX+(10-09) pennsylvania SCHEDULE H DEPARTMENT OF REVENUE FUNERAL EXPENSES AND INHERITANCE TAX R RESIDENT DEC ENTrURN ADMINISTRATIVE COSTS ESTATE OF FILE NUMBER Sexton, Katherine R. 21-14-0593 Decedent's debts must be reported on Schedule 1. ITEM DESCRIPTION AMOUNT NUMBER A. FUNERAL EXPENSES: B. ADMINISTRATIVE COSTS: 1. Personal Representative's Commissions Name of Personal Representative(s) Street Address City State Zio Year(s)Commission Paid 2. Attorney's Fees George F Douglas, III Esq. 12,500.00 3. Family Exemption: (If decedent's address is not the same as claimant's,attach explanation) 3,500.00 Claimant H. Jay Sexton Street Address 4 Michaux Oaks Rd. City Gardners State PA ZiD 17324 Relationship of Claimant to Decedent Spouse 4. Probate Fees 608.50 5. Accountant's Fees 6. Tax Return Preparer's Fees 7. Other Administrative Costs 679.42 See continuation schedule(s) attached TOTAL(Also enter on line 9, Recapitulation) 17,287.92 Copyright(c)2009 form software only The Lackner Group, Inc. Form PA-1500 Schedule H(Rev. 10-09) SCHEDULE H FUNERAL EXPENSES AND ADMINISTRATIVE COSTS continued ESTATE OF FILE NUMBER Sexton, Katherine R. 21-14-0593 ITEM NUMBER DESCRIPTION AMOUNT Other Administrative Costs I Salzmann Hughes,P.C.-reimbursement for payment to Cumberland Law Journal for legal 75.00 advertising 2 Salzmann Hughes,P.C.-closing costs and final fees for income tax preparation, postage 400.00 and miscellaneous contingencies in order to administer the estate 3 The Sentinel-Legal advertising 201.16 4 Vodafone Group-service fee 3.26 H-137 679.42 Copyright(c)2002 form software only The Lackner Group,Inc. Form PA-1500 Schedule H(Rev.6-98) REV-1513 EX+(01-10) pennsylvania SCHEDULE J DEPARTMENT OF REVENUE INHERITANCE TAX RETURN BENEFICIARIES RESIDENT DECEDENT ESTATE OF FILE NUMBER Sexton, Katherine R. 21-14-0593 NAME AND ADDRESS OF RELATIONSHIP TOSHARE OF ESTATE AMOUNT OF ESTATE NUMBER PERSON(S)RECEIVING PROPERTY -DECEDENT (Words) ($$$) Do Not List e I� TAXABLE DISTRIBUTIONS [include outright spousal distributions,and transfers under Sec.9116(a)(1.2)1 1 H.Jay Sexton Husband Entire Estate 798,103.93 4 Michaux Oaks Rd. Gardners, PA 17324 Total 798,103.93 Enter dollar amounts for distributions shown above on lines 15 through 18 on Rev 1500 cover sheet,as appropriate. NON-TAXABLE DISTRIBUTIONS: II. A.SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN B.CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET Copyright(c)2010 form software only The Lackner Group, Inc. Form PA-1500 Schedule J(Rev.01-10) rpt O M L --A �} O "n I, KATHERINE RITTER SEXTON, of the Township of Cooke, County of Cumberland and Commonwealth of Pennsylvania, being of sound and disposing mind and memory do hereby, revoking all Wills, codicils and testamentary dispositions heretofore made by me, make and publish this my last Will and Testament in the manner following, to wit: FIRST: A. Cremation I direct that on my death my remains be cremated and half of the ashes placed in an urn and. taken to Bloomsburg, Pennsylvania, and that urn planted in the ground between the buried remains of my mother, Christine Ritter Dub=bs, and by brother,Michael F. Dubbs and half placed in an urn and place in the designated vault in Greenwood Cemetery, Hamilton,New Jersey. B.- Payment of Expenses and Debt- I direct my Executor hereinafter named, to pay funeral expenses, the costs of administering my estate, including costs incurred with respect to the distribution of property hereunder, and my just debts as soon as may be convenient after my decease. My debts shall not include obligations secured by mortgages on real estate or debts owing to insurance companies if any. SECOND: A. Tangible Personal Proper I give and devise all of my tangible personal property, together with any insurance policies relating thereto to my beloved husband, H. Jay Sexton, if he survives me. However, I may limit this bequest by directing my Executor to dispose of certain items of my tangible personal property in a memorandum I have dated and signed that is found with my Will upon my decease ("my Memorandum"). If my husband does not survive me, items of tangible personal property not disposed of under my Memorandum, or if no such document exists, shall.be included in the remainder of my estate. Property not distributed may be sold, or if a sale is not practical, donated to charity as selected by my Executor. All expenses of storing, insuring, packing and shipping my tangible personal property shall be paid as an administration expense of my estate. B. Specific Pecuniary�B quests If my husband H. Jay Sexton has predeceased me, I give and devise the following specific pecuniary bequests to these individuals who survive Me: 1. To Jacquie Hall (Chataigne)the sum of Five Thousand Dollars ($5000.00) 2. To Eric Scheuttig the sum of Five Thousand Dollars ($5000.00) 3. To Michael C. Dubbs the sum of Five Thousand Dollars ($5000.00) THIRD: Fs a e and Inheritance Tax The payment of taxes that arise as a result of my death and issues related.to such taxes are dealt with in this Article THIRD as follows: A. Source of Payment I direct that all estate, inheritance, transfer, legacy, succession and other death taxes and duties, including interest and penalties if any, of any nature which may be imposed upon, or with respect to property passing under this Will or otherwise, payable under the laws of any jurisdiction by reason of my death ("Death Taxes"), whether or not the property generating the Death Taxes passes under this Will or any Codicil, shall be paid and all related tax 2 credits allocated proportionately out of the property passing to the Family Trust under Article FIFTH. No part of the Death Taxes shall be apportioned or prorated to any other beneficiary receiving my probate or non probate property. B. Allocations and Flections My Executor has fall authority to make all allocations and elections permitted by the Internal Revenue Code of 1986 as amended and explicated by Internal Revenue Service Regulations (the "Code") and applicable state law even if the election would increase my taxable estate. Such elections and allocations shall be made without regard to the relative interest of the beneficiaries. No adjustments shall be made in the interests of the beneficiaries to compensate for the effects of such elections and allocation. Any decision.made by my Executor in the exercise of any election, allocation, challenge to or payment of Death Taxes shall be conclusive and binding upon all persons interested in my estate and not subject to question by any beneficiary or court, and my Executor shall have no liability as a result of any such decision. C. Election to Deduct Administration Expenses No adjustment shall be made between income and principal either by reason of the fact•that any deduction may have been taken and allowed for income tax purposes rather than for federal estate tax purposes or by reason of any election as to the date of valuation for my estate. The source of the payment of any administration expenses allowed for income tax purposes shall be from the amount set aside and devised to the trust established under Article FIFTH if to do otherwise would cause an increase in Federal estate 3 taxes. FOURTH: ReQuest to Husband If he shall survive me, I give and devise to my husband, H. Jay Sexton, an amount equal to the difference between my gross estate as established for federal estate tax purposes and the amount necessary to reduce to zero the federal estate tax payable as a result of my death, or in the discretion of my Executor, to reduce to zero the New Jersey estate tax payable as a result of my death. In determining this amount my Executor shall take into account my specific bequests and all non probate assets included in my estate for federal tax purposes that do not qualify for the marital or charitable deduction, the unified credit, i.e. the applicable credit amount under Code Section 2010, available to my estate and the state death tax .credit (provided use of this credit does not require an increase in the state death taxes paid). The applicable credit amount available to my estate shall reflect the unified credit applied to my taxable gifts. A. Eunding-This bequest shall be funded with assets selected by my Executor and valued for this purpose at their value on the date of transfer to my husband. B, Disy.12imer of Bequest If my husband executes a Code Section 2518 qualified disclaimer of any portion of this Bequest, the portion so disclaimed, which may be the entire bequest, shall be reduced by its proportionate share of all federal and state taxes imposed on my estate due to the disclaimer. The balance of the disclaimed portion shall be transferred to the Trustee of the Family Trust to be held and distributed according to its terms. 4 C. Husband Predeceases If my husband does not survive me my Co-Executors shall transfer that portion of the remainder of my estate necessary to fund any bequest under Sub Paragraph D 2 of Article FIFTH to the Trustee of the Family Trust to be held and distributed thereunder and to distribute the rest of the remainder of my estate directly to my children under Sub Paragraph D 1 of Article FIFTH in as my Trustee shall instruct. FIFTH: Credit Shelter BvMass Family Tnist I give and devise all the test, residue and remainder of my estate and property, real, personal and mixed, of whatsoever it may consist and wheresoever it may be situate, whether now owned by me, or by me hereafter acquired, to my Trustee, hereinafter named, of the Family Trust. The transfer to the Family Trust under this devise, together with all property subsequently transferred to or acquired by the Trustee as income or otherwise is referred to as "the Trust Estate" of this trust or any trust created hereunder. A. Payment of Income from Estate to Husband Until assets are transferred to the Trustee of the Family Trust, my Executor may estimate and, out of my general estate, make payments of the income to my husband as provided for in paragraph B of this Article FIFTH. B. Payment of Income from Family Tnist to Husband Trustee shall pay to, or apply for the benefit of, my husband during his lifetime all of the net income of the Family Trust no less often than quarterly. C. Distribution of Tnist Estate to Hushand My Co-Trustee, other than my husband who is specifically excluded from any role in regard to the invasion or distribution of the Trust Estate 5 under this Paragraph, is authorized in Trustee's sole and absolute discretion, to pay to,or apply for the benefit of my husband a part of the Trust Estate (even to the point of exhausting the same) in such amounts and from time to time as the Trustee may deem advisable to provide adequately for his health, support, and maintenance in his accustomed manner of living, bearing in mind that his needs are my primary concern. This provision shall be construed in accordance with federal law to retain estate tax advantages to my and my husband's estate. Further, Trustee may make a partial or full distribution of the Trust Estate, or direct the distribution thereof by my Executor, to take into account increases in the applicable credit amount that would cause the continuation of the Family Trust to have no estate tax saving benefit. D, Division ofTrust Estate upon Husband's Death Upon the death of my husband, or.if he has predeceased me, then upon my death, the Trust Estate shall be divided into a separate equal share for each of our children, Christine Sexton Mudge and Daniel M. Sexton, who survives and one share for the issue of a deceased child pfr sfirpes, subject to representation. The separate share of any child who dies without issue shall be added in equal parts to the sHares of my surviving child or the issue of a deceased child per stirn .s, subject to representation. Each share shall be held as a separate trust. The Trustee shall have sole discretion to determine which assets shall be included in the Trust Estate of each trust. 1. Distribution,-,. to C".hilcl The Trust Estate of each child's trust shall be distributed to him or her at the time of the division of the Trust Estate under this Paragraph D if the child has by then 6 attained the age of thirty (30) years. Otherwise, one half of the Trust Estate shall be distributed when heLor she attains the age of twenty-five (25) years, and the remainder of the Trust Estate shall be distributed when heLor she attains the age of thirty(30)years. Prior to the full distribution of the Trust Estate, the Trustee shall pay to, or apply for the benefit of, the child who is the beneficiary of the trust all of the net income of the trust no less often than quarterly. 2. Distributions t_ o Issue The Trust Estate of the share held in trust for the issue of a deceased child shall continue to be held in trust so long as any issue is under the age of twenty-one (21). When all issue have attained the age of twenty-one (21) or have sooner died, Trustee shall distribute the Trust Estate to the issue in equal shares,Per std s, subject to representation. Prior to the full distribution of the Trust Estate, the Trustee in its sole discretion, may accumulate all or part of the income of the Trust Estate or distribute or apply income for the benefit of any issue for purposes of health, education, maintenance or support. In exercising its discretion, the Trustee may treat issue unequally without being required to justify disparate treatment. E. Residential Property If any residential property is held as part of the Trust Estate of the Family Trust, Trustee shall. permit my husband to occupy such real estate rent free. Upon my husband's death, my Trustee may sell such real estate or retain it for the use of a beneficiary. Trustee shall have the discretion to permit a beneficiary to occupy the property without payment of rent or to charge rent. However, Trustee shall not require any beneficiary who is an occupant to pay the property taxes or mortgage interest attributable to such property. 7 F. Beneficiar!4 under Disahi]4 Any portion of the Trust Estate that may be distributable to a child or issue (the "beneficiary") who is under a disability shall be subject to the following provisions: 1. Definition of Disability A beneficiary shall be considered to be under a disability when the beneficiary, in the opinion of Trustee after consultation with competent professional authority, shall be unable to properly manage his or her affairs by reason of alcohol or other substance abuse, illness or physical handicap. 2. Continuation of Trust Trustee may hold the portion of the Trust Estate otherwise distributable to a beneficiary who is under a disability IN TRUST under the provisions of this trust beyond the time at which distribution would otherwise be required. Alternatively, Trustee may distribute beneficiary's share of the Trust Estate to the guardian, of the beneficiary. The receipt of the guardian shall be a full acquittance and discharge to the Trustee for the property so distributed. The Trust Estate held in trust for a beneficiary under this Paragraph may be distributed to or for the benefit of the beneficiary as the Trustee in Trustee's sole discretion shall determine for the beneficiary's health,maintenance, or support. 3. Termination of Disability The Trust Estate shall be distributed in accordance with the provisions of this Article FIFTH to a beneficiary who becomes free of disability as determined by Trustee as confirmed by Trustee's consultation with competent professional authority. G. Liens nnd Assignment of Bene-fit.9 The interest of any beneficiary in the Trust Estate of 8 any trust created under this Article FIFTH, shall be free from that beneficiary's debts and liabilities. Thus, no beneficiary may assign or in any manner, anticipate, encumber or otherwise alienate any portion of his or her interest in the Trust Estate nor shall such interest be subject to execution or process for the enforcement of judgments or claims of any kind, including those arising from contract or in tort,against such beneficiary. H. Resolution cif Controversies It is my wish that my Trustee shall settle any account or question concerning the administration of any trust created under this Article FIFTH by agreement with the beneficiary, or the guardian or representative of any incompetent beneficiary. Any agreement under this Paragraph shall bind all persons who may ever have an interest in the affected trust and shall effectively release and discharge the Trustee. Further, if any dispute arises from an interpretation of the language of any provision of any trust created hereunder, the Trustee is fully authorized to construe such provision and any determination by the Trustee shall be final and binding upon all persons with an interest therein. I. QTTP Flection My Executor may make a QTIP election to qualify all, part or none of the Family Trust as a Code Section 2056(b)(7) "qualifying income interest for life" if to make such election would reduce the liability for payment of Pennsylvania estate tax or Federal estate tax by my estate or my husband's estate. The elected portion of the Family Trust shall be a sub- trust funded with assets selected by my Executor or Trustee that qualify for the marital deduction measured in value at the timeof funding as the fair market value of the assets so 9 selected. SIXTH: Failure of Distribution If my property is not fully distributed pursuant to the bequests in my Will, it shall be divided into two shares. One share shall be distributed to those individuals who would take from my estate assuming I had survived my husband and died intestate, unmarried and a resident of the Commonwealth of Pennsylvania. The other share shall be distributed to those individuals who would take from my husband's estate assuming he had survived me, died intestate, unmarried and a resident of Commonwealth of Pennsylvania, SEVENTH: Trustee I hereby nominate and appoint my husband, H. Jay Sexton and my son, Daniel M. Sexton and my daughter Christine Sexton Mudge as Co-Trustees (referred to herein as "Trustee") of the Family Trust and all trusts created hereunder. A. Successor Trustee If there is only one Trustee and no alternates remain, he or she is hereby given the right to appoint a Co-Trustee or a Successor Trustee that is an individual or a corporate Trustee. The Trustee shall have the authority to amend the Family Trust with respect to fees or other matters as may be reasonably required to pen-nit the acceptance or retention of Trusteeship. Each Successor Trustee shall have the powers and discretion herein granted to their predecessor. No individual Trustee shall be subject to any liability for his or her own actions under the authority granted hereunder taken in good faith. No Trustee shall be liable for any action or omission of a.predecessor Trustee. B. Documentation of Change in Tnistee Any appointment, removal, substitution or resignation of a Trustee shall be made by written instrument duly signed, acknowledged before a notary public and filed with the records of the trust. Any such instrument may be changed in like manner by the person or persons making the same before it takes effect, need not take effect 4D immediately, and may be contingent upon the occurrence or non-occurrence of any event. C. Powers of Trustee 1. General Powers I authorize and empower the Trustee to convert, reconvert, invest, reinvest and keep safely invested any of the funds, property and estate coming into the Trust Estate of any trust created under this, my Last Will and Testament, in such securities and investments as Trustee shall deem proper. However, this power shall be exercised under the authorities and limitations contained in New Jersey Statutes Annotated 313:20-1 et. seq.; 3B:14- 23 B:14- 23 et. seq. and other applicable laws of the State of New Jersey regarding investments and the administration of trusts as they may from time to time be promulgated or amended. 2. Power to Terminate Trust Subject to the other provisions of my Will, if the Trustee determines that the corpus of any trust established hereunder is so small as to make the administration of that trust impractical, the Trustee may distribute the Trust Estate to those beneficiaries then entitled to receive such distribution had the Trust continued for its normal term. 3. Distribution to Custodian If the distribution would otherwise be to a person who has not reached the age of twenty one (21) years the distribution shall be made to a person chosen by the Trustee to serve as a custodian of an account established for the beneficiary that is subject to the Uniform Transfer to Minors Act. EIGHTH: Exe utnr I hereby nominate and appoint my husband, H. Jay Sexton, Executor of this,my Last Will and Testament. A. Replacement for Executer If my husband predeceases me, fails to qualify or at any time ceases to act as Executor, I appoint my son, Daniel M. Sexton and my daughter Christine Sexton Mudge to act in his place as Alternate Co-Executors. B. Powers of Executor Subject to this Paragraph, my Executor shall have the authority and be subject to the limitations contained in New Jersey Statutes Annotated 313:20-1 et. seq.; 313:14-23 et. seq. and other applicable laws of the State of New Jersey as they may from time to time be promulgated or amended. I give my Executor full power and authority to sell, either at public or private sale, any and all real estate whereof I may die seized, and to make good and sufficient conveyance thereof; I further authorize my said Executor, in his sole discretion, to convert any or all of the assets of my estate to cash. However, the investment of such funds shall be limited to obligations issued by the United States Treasury or any federal agency,or certificates of deposit, money market accounts or savings accounts in any banking institution insured under federal laws. NINTH: Miscellaneous Provisions A. Presunintion of Survival If my husband and I die under circumstances which preclude a determination of which of us died first it is presumed that I survived my husband for all purposes 12 under this Will and with respect to the disposition of non probate assets. B. Bm3�d No bond or other security shall be required in any jurisdiction of any fiduciary named hereunder. C. Accountink My fiduciaries are not required to prepare an.informal accounting but may do so in their discretion from time to time, or as required by a regulatory authority, unless otherwise required by law to submit a formal accounting to a Court. However, if a sole corporate Trustee ceases to serve, an informal accounting shall be prepared from the time of the last prior accounting through the end of the period of service. Trustee shall deliver a copy of such accounting to each beneficiary of any trust created hereunder. The approval by all of the persons to whom a copy of such accounting must be delivered shall be final and binding with respect to its contents on all such beneficiaries or future beneficiaries. D. Incapacity of Fiducia Any fiduciary, in accepting the appointment hereunder agrees to the release of all health information and medical records held by any person to a successor fiduciary named herein, whether or not already appointed, for purposes of resolving the issue of the fiduciary's incapacity raised in good faith. This released authority applies to all information governed by the Health Insurance Portability and Accountability Act of 1996 and the regulations issued thereunder. E. Ten-ninology As used in my Will, the terms referring to my fiduciaries, "beneficiary" and the pronouns referring thereto shall be deemed to be masculine or feminine in gender or 13 singular or plural,as the context may require. Any reference to a child, children or issue as a beneficiary, a group of beneficiaries or otherwise shall include any child or issue claiming not only by blood but also by adoption if such adoption occurred before the person reached age twenty one (2 1)years. Headings are descriptive in use only and shall not be construed.to alter the meaning of any part of my Will. IN WITNESS WHEREOF,I have hereunto set my hand and seal this aQ-'�— day of June,2007 Katherine Ritter Sexton Signed, sealed, published and declared by the said Katherine Ritter Sexton, the Testatrix above named, as and for Testatrix's Last Will and Testament in the presence of us who were both present at the same time and who, at Testatrix's request and in Testatrix's presence and in the presence of each other, have hereunto subscribed our names as Witnesses this day of June,2007. Princeton Junction,New jersey Le Coates 14 Hiszhtstown.New Jersey Lynda C. Falkowslkl 1, Katherine Ritter Sexton, the Testatrix, sign my name to this instrument this aQ day of June, 2007, and being first duly sworn, do hereby declare to the undersigned authority that I sign and execute this instrument as and for my Last Will and Testament, that I sign it willingly, that I execute it as my free and voluntary act for the purposes therein expressed, and that I am eighteen years of age or older, of sound mind and under no constraint or undue influence. Cfb!�C�Q.Ji.(.�1.fL ����. y�2�f�[t�.(L.S.) - Katherine Ritter Sexton We, Leonard J. Coates and Lynda C. Falkowski, the witnesses, being first duly sworn, do each hereby declare to the undersigned authority that the Testatrix signs and executes this instrument as her Last Will and Testament,that the Testatrix, signs it willingly, and that each of us states that in.the presence and hearing of the Testatrix we hereby sign this Will as witnesses to the Testatrix's signing, and that to the best of our knowledge and belief, the Testatrix is eighteen years of age or older, of sound mind and under no constraint or undue influence. ,---�'­eonarff�Coates 15 L_ ynda C. Falkows STATE OF NEW JERSEY COUNTY OF MERCER Subscribed, sworn to and acknowledged before me by Katherine Ritter Sexton, the Testatrix, and subscribed and sworn to before me by Leonard J. Coates and Lynda C. Falkowski, the witnesses, this D day of June,2007. 16 Katherine Sexton Date of Death 5/1/2014 Account Number 646.069558 "I/LQ DUD Security ID Security Description Security Type CUSIP Quantity Average Value Cash&Cash Equivalents CASH Mutual Fund 315994103 129,496.53 1.00 129,496.53 Equities T AT&T Inc Com Common Stock 0020611102 400 35.58 14,232.00 BDX Becton Dickinson Co Common Stock 075887109 100 111.59 11,159.00 BMY Bristol Myers Squibb Common Stock 110122108 200 49.52 9,904.00 CLX Clorox Co Del Common Stock 189054109 100 89.40 8,940.00 KO Coca Cola Co Common Stock 191216100 200 40.78 8,156.00 XOM Exxon Mobil Corp Common Stock 30231G102 106 101.41 10,749.46 GIS General Mills Inc Common Stock 370334101 45 52.68 2,370.60 GPC Genuine Parts Co Common Stock 372460105 100 85.84 8,584.00 INTC Intel Corp Common Stock 458140100 600 26.45 15,870.00 IBM Intl Business Mach Common Stock 459200101 20 193.53 3,870.60 1PM JPMorgan Chase&Co Common Stock 46625H100 45 55.72 2,507.40 KMP Kinder Morgan Energy Partners L P Unit Trust 494550106 100 75.38 7,538.00 MCD McDonald Carp Common Stock 580135101 100 100.96 10,096.00 MRK Merck&Co Inc New Com Common Stock 58933Y105 400 59.62 23,848.00 MSFT Microsoft Corp Common Stock 594918104 200 40.00 8,000.00 PFE Pfizer Inc Common Stock 717081103 300 31.15 5 ,345.00 QCOM Qualcomm Inc Common Stock 747525103 100 78.99 7,899.00 XLU Sector SPDR TR SHS BEN INT Utilities Common Stock 81369Y886 200 43.39 8,678.00 UTX United Technologies Corp Common Stock 913017109 20 116.80 2,336.00 VZ Verizon Communications Common Stock 92343V104 278 47.22 13,127.16 VOD Vodafone Group Common Stock 92857W308 163 37.29 6,078.27 WMT WalmartStores Inc Common Stock 931142103 200 79.70 15,940.00 Total Value $338,725.02 Total Accrual Total $338,725.02 Information for the preparation of this statement has been obtained from sources that are deemed reliable,but this information cannot be guarranteed. Prism Jade Fund, L.P. Class-B Unaudited Account Statement for the Month Ending 5/31/2014 Partner ID:PRS51 Katherine R.Sexton 4 Michaux Oaks Road Gardners,PA 17324 STATEMENT OF INCOMEI(LOSS) Month-to-Date Year-to-Date Investment lnoomet(Loss) $2,048.93 $13,310.78 Expense Fee $0.00 $0.00 Management Fee $269.86 $1,337.53 Organization and Offering Reimbursement $0.00 $0,00 Incentive Fee $74.18 $1,149.33 Other Expenses $92.38 $479.90 Net Income(Loss)for the Period $1,612.51 $10,344.01 STATEMENT OF CHANGE IN NET ASSET VALUE(NAV) Units Value Beginning of Month 3,183.34 $431,770.76 May 1,2014 Additions 0.00 $0,00 Net Incomet(Loss) $1,612.51 May 31,2014 Withdrawals 0.00 $0.00 End of Month 3,183.34 $433.383.28 Fund NAV; $136.14 Monthly Rate of Return: 0.37% Year-To-Date rate of Return: 2.45% ASPEN PINRI'NERS This statement was prepared by Prism Jade Fund,L.P.'s independent administrator,Aspen Partners,Ltd. ._._....._....__.._...,,..._.. _ ..... ...,....y vwx><>•iAa.awaaaui �uk.rw — tl`t t JA:J VJA1? VAitRt1J1111t1121.ii11C rl. ... rage 1 QI i I ( nlP:uu7nt< Enter Symbols or Keywords SEARCH �{ 4 Ways to Avoid Running Out of Money During Retirement If you have a$500,000 portfolio,download the guide by Forbes columnist Ken Fisher's firm.Even if you have something Charts* else in place,this must-read guide includes research and analysis you can use right now.Dcxt`t miss W Click Here to Download Your GWdelSM ar:i FisHe a It4vt s rMkn'r5 anm fti lletwatch gsk Basic Chart Advanced Chart Interactive Chart Home + Quotes ' News i Industries i I-Awkets ? Historical Quotes r. BigReports �rwar.>,aazwes�aanamJsa�ra>Ar,.we'xatruweramcuci�a�m.�r.c*sm,ann�wnJx.2enentso:w�.n.,nrx*.' _ _ +-zw>.xnasswr�ar.�.s� This Historical Quotas tool allows you to took up a security's exact dosing price. Simply type In the symbol and a historical dale to%law a quote and mini chart for that security. {! Enter Symbol: gsk Enter Date: 5101114 GlaxoSmithK€ine PLC ADS Thu,fviay OF,20,14 Closing Price: 55.40 Open 55.33 High. 55.58 tow' 55.22 Vamme: 1,722,991 No Splits Sponsored Links Best Stocks To Buy Stock Picks For 2014 �a C Hot Penny Stocks To Buy Dividend income Funds 510.58 +, 5022 + 2014 Luxury Sedans Best Investment Funds r, ry Big-Data Analytics 10 Best Mutual Funds Top Stocks To Invest Top 10 Stocks For 2014 2- 55.4 . - Find a broker f .,..1c. X i 53 2F-F)'i-- Marketahl, + =�s.J 2F J f Amlr')(iltied@. Ffdeiitya Cash Management Account Trade free for 80 days+ t_I it get up to$800!Open an account today time--�-�—az¢;-.xJ<-.mam.:+;�zmneaaamttaxrs-�+a r� ras+r➢as�ussae<.^�.•.r^.�nmersoax. .zs�.+�c�rw a¢;mm�=.a±F.�aJs:.�.aue+vyr„ Home I About I Job Opportunities I Contact Us I Feedback I Help Copyright 2014 MorkeNVatch,Inc.A%rights reserved. By using this site,you agree to the Tema of Use,Privacy Policy,and Cookie Policy. Intraday Data provided by SIX Financial Info rnsfion and subject to terms of use. Historical and cunere end-°f-day data provided by SIX Financial fnlarmati.,tnlraday data delayed par extlrange Jequ@ements SSPJDow Jones indicas ISM}hwn Dory Jones 8 Company,Inc.Ali quotes are in local exchange lime.Real lime last sale data provided by NASDAQ. More Information on NASDAO traded symbols and their current financial status. Intraday data delayed 15 minutes for Nasdaq,and 20 minutes for other exchanges. SEPfD—Jones Indices(SM)from Dour Janes 8 Company,Inc, SEHK intraday data is provided by SIX Financial Information and is at least 60-minutes delayed. All quotes are in local exchange time. http:/ibigeharts.marketwatch.com/historical/default.asp?symb=gsk&closeDate=5%2F 1%2... 5/31/2014 Katherine Sexton Date of Death S/1/2014 Account Number 646-479780(IRA) HI/LO DOD Security ID Security Description Security Type CUSIP Quantity Average Value Cash&Cash Equivalents CASH Mutual Fund 315994103 17,654.45 1.00 17,654.45 Mutual Funds FPACX FPA Cresent Fund Mutual Fund 302547759 158.579 35.58 5,642.24 GPGIX Grandeur Peak Global Opportunites Mutual Fund 317609360 1,742.106 3.35 5,836.06 MFLDX Mainstay Marketfield Fund Class I Mutual Fund 5606411852 292.569 17.48 5,114.11 Total Value $34,246.86 Total Accrual Total $34,246.86 information for the preparation of this statement has been obtained from sources that are deemed reliable,but this information cannot be guarranteed. q6c4erl fn, Beneficiary Designation for This IRA Read the instructions below completely before filling out this section. Naming an IRA beneficiary can have important tax and financial consequences. Please To change a designation in the future,such as adding or removing a beneficiary or changing consult your attorney andfor tax adviser.Tax consequences can be a particular concern if your your"per stirpes"contact,complete a Premiere Select IRA Beneficiary Designation Fonn. account contains community property or if you rake a"per stirpes"designation(see the fast Ta have a beneficiary's share pass to Ws/her descendents,should deo beneficiary die before instruction below).Note that a beneficiary designation is not valid until it is rKsivcd and Yo+a provide"per stirpce information(including contact Information),in consultation with an accepted by Fidelity. estate planting attorney.By checking the"per stirpes"box,you indicate that the share of any If naming oaly one beneficiary in either category(i.e.,primary or contingent),the share will individual beneficiary who predeceases you will pass to his or her descendants,as defined by automatically be 100%. the laws of the Commonwealth of Massachusetts in force at the time ofyour death.If you do If naming more than one beneficiary in a category,indicate an ownership share for each(in not provide a"per stitpes"contact name,or if the contact is unavailable or unable to act,the per mt,not dollars).Make sure the percentages total 100%exactly.If no shares are indicated, contact will be your executor. equal percentages will be assigned any beneficiaries in that category who tae alive At the lime of your death(or,if you checked"per stiryes'below,to the survivors of those beneficiaries). Name of Comsat for"Per St rpcs"Issues To designate more than three beneficiaries In either category,use a copy of this page nr attach a sbeet with all applicable beneficiary information,your Social Security Number,you signature,and the date. To dal a ate tciary,enter"Estate"as the name. Primary Beneficiaries The rirttary beneficiaries will receive payment of any assets that are in this IRA our death. Name of Beneficiary ® Spouse C]Taut 0 Entity D Other Namc ofTmstee(if Applicable) 11jjW' H.Ta Sexton 0 7 0 8 1 9 3 7 100 %1 El Add"Per Stirpes"Stipulation Naeol'Bentficiary E) Spouse Q Trust [3 Entity © Other Name ofTrvsta(ifApplirabte) m Social Security Number Taxpayer ID Number Date of Hirth or Trust nr.ano-vyyrr 7 Penrntage Add"Per Stirpes"Stipulation Name or Beneficiary 0 Spouse (� Trust 0 Entity C] other NameofTnswc(ifAppficable) Share PercentageSocial Socurity Nu rnber ❑ Taxpayer 10 Number (late of Binh or Trust iww.Do.Yrm o� Add"Per Stirpes"Stipulation Contingent Beneficiaries The contin=t beneficiaries will receive payment of any assets that are in this IRA upon your death if no primary beneficiaries survive you. �al�� ��alt• Yrr ■ ^!�� Name of Beneficiary ❑ Spouse [] Trust [] Entity C] Other Name of Trustee(if Applicable) El Social Security Number Taxpayer 10 Number Date of Binh or Trust iwu.nn.v vrt Shue Perecntage El Add"Per Stirpes"Stipulation NruneofBmefiday, El Spouse 0 Trust ❑ Entity ❑ Other Name ofTrwmee(ifAppticable) Social Security Number Lj Taxpayer t0 Number Date of Birth or Truat,Mar>xiveyri Shire Ptreenuge Add"Per Stirpes"Stipulation Name of Beneficiary Q Spouse [ Trust Entity Q Other Name of Trustee(if Applicable) Lj Social SecurityNumber Taxpayer ID Number Dne o'Birth or Tont one-rx>rvrrr Shan Pcrceoaise p/o Ej Add"Per Stirpes"Stipulation 4of6