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Home My WebLink About04-15-15 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION ESTATE OF SUZANNE E. REESE, DECEASED FILE NO. 2014-01127 FAMILY AGREEMENT AND FINAL RELEASE THIS AGREEMENT by and between THEODORE KENT REESE, individually and as Administrator of the Estate of SUZANNE E. REESE, Deceased, and MARGARET J. LUFT, individually. WHEREAS, SUZANNE E. REESE, late of Cumberland County, Pennsylvania, died intestate on November 20, 2014; WHEREAS, THEODORE KENT REESE has been duly appointed as Administrator of the Estate of Suzanne E. Reese, Deceased, and C") C> tin 70 rn fTl WHEREAS, the parties in interest are: C*) :73 1. Theodore Kent Reese, son; and CD zc_ 2 2. Margaret J. Luft, daughter i---- M cxzCO WHEREAS, THEODORE KENT REESE and MARGARET J. LUPT are each entitled to one-half(1/2) of the residuary property; WHEREAS, MARGARET J. LUFT was the beneficiary of a Metlife Total Control Account, a Prudential Alliance Account, and a Metlife life insurance policy with date of death values of$6,936.84, $4,424.32, and $1015.99 respectively, and MARGARET J. LUFT has disclaimed her interest in these accounts by depositing same in the Estate of Suzanne E. Reese. These funds are being distributed according to Pennsylvania Intestacy Laws; WHEREAS, THEODORE KENT REESE received funds from PSECU in the amount of$8,841.44 that were owned by Suzanne E. Reese's deceased husband, Kent J. Reese. THEODORE KENT REESE has disclaimed his interest in those funds by depositing same in the Estate of Suzanne E. Reese. Those funds are being distributed according to Pennsylvania Intestacy Laws; WHEREAS, each of the parties to this Agreement have been furnished with a complete listing of the estate assets, receipts and disbursements as set forth on the Statement of Account as attached hereto and marked as Exhibit A; WHEREAS, the parties to this Agreement each acknowledge to have received a proposed Schedule of Distribution attached hereto and marked as Exhibit A; WHEREAS, it is the desire of the parties to this agreement that administration of this estate be completed and accomplished without a formal accounting and adjudication in the Orphans' Court Division of the Court of Common Pleas of Cumberland County, it being the desire of the parties to avoid the additional expense, delay and publicity of a formal accounting. NOW, THEREFORE, WITNESSETH, in consideration of the mutual promises, covenants and agreements recited herein, the parties do agree as follows: 1. THEODORE KENT REESE, Administrator, does hereby state that he has fully and faithfully discharged the duties of his office, and the Statement of Account(Exhibit A) is true and correct and fully discloses all significant transactions during the accounting period. He further states that all known claims against the Estate have been paid in full, and to the best of his knowledge there are no claims outstanding against the Estate and all taxes presently due from the Estate have been paid. 2 2. Each of the parties to this Agreement does hereby release and forever discharge the said Administrator, THEODORE KENT REESE, his heirs, executors, administrators and assigns, JAN L. BROWN & ASSOCIATES or its successors, attorneys at law, and JACQUELINE A. KELLY, ESQUIRE from any and all liability which may from time to time arise in connection with their service as Adminstrator and Attorneys of the Estate of Suzanne E. Reese, Deceased, except for errors and omissions of JACQUELINE A. KELLY, ESQUIRE, and JAN L. BROWN & ASSOCIATES or its successors, and consequences arising from the same, unless such errors and omissions were caused as a result of inaccurate or incomplete information provided to JACQUELINE A. KELLY, ESQUIRE, and JAN L. BROWN & ASSOCIATES or its successors, by THEODORE KENT REESE. The parties do further agree to indemnify and hold them harmless from any and all liability which may arise against the estate from creditors or claimants which do not arise from such errors and omissions. 3. Each of the parties does hereby acknowledge receipt of the assets described on the Schedule of Distribution attached hereto. 4. Each of the parties acknowledges that the terms of this Agreement shall be binding upon their respective heirs, successors, administrators and assigns, 5. Each of the parties do further agree with each other and the aforesaid Administrator that should any liability come due to the Estate of the said decedent after the signing of this Agreement, each will contribute pro rata his/her share of the Estate to satisfy any and all claims, demands, suits or causes of action which may be successfully prosecuted against the said Estate or the aforesaid Administrator after the signing, sealing and delivery of this Agreement. 3 6. This Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. IN WITNESS WHEREOF, I have hereunto set my hand and seal this 3tby of _, 2015. WITNESS: THEOI)OKENT REESE, Administrator and Beneficiary COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF DAUPHIN On this the day of malfz� 2015,before me,a Notary Public,the undersigned officer, personally appeared THEODORE KENT REESE, 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. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Aotary blic NOTARIAL SEAL JACQUELINE A KELLY Notary Public LOWER PAXTON TWP,DAUPHIN COUNTY My Commission Expires Dec 17, 2015 4 IN WITNESS WHEREOF, I have hereunto set my hand and seal this day of f'� t , 2015. WITNESS: MARG ET J. L FT, Ben ficiary COMMONWEALTH OF PENNSYLVANIA SS: COUNTY'OF L On this the 3 day of P! ,2015,before me,a Notary Public,the undersigned officer, personally appeared MARGARET J. LUFT, known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument,and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. N�ary Pu lic NOTARIAL SEAL MICHAEL SHANE WERT Notary Public RAPHO TWP., LANCASTER COUNTY My Commission Expires Jun 27,2016 5 ESTATE OF SUZANNE E. REESE DATE OF DEATH DEATH NOVEMBER 20, 2014 SUMMARY STATEMENT OF ACCOUNT ACCOUNTING PERIOD 1112012014-311512015 Assets - Schedule A $ 117,315.55 Income - Schedule B $ 91.69 Principal Increases/Decreases - Schedule C $ 1,258.28 Disbursements - Schedule D $ (77,733.17) Assets Available for Distribution $ 40,932.35 Distributions to Beneficiaries - Schedule E $ 38,932.35 Balance reserved for contingencies' $ 2,000.00 'The reserve balance will increase or decrease based on receipt of additional assets/income, presentation of an obligation and/or payment of additional charges. The reserve will be distributed to the residuary beneficiaries after applicable adjustments. After final distribution is made, the residuary beneficiaries agree to reimburse the personal representative if called upon to pay further liabilities of the decedent in the future. 3/30/2015 Exhibit A ^ . . . ESTATE OFSUZANNE E. REESE DATE OFDEATH NOVEMBER 2O. 2O14 ASSETS 8CHEDULEA VALUE AT DESCRIPTION DATE OFDEATH CASH yW&TBank checking account#7UO35543 $ 16.07820 PSECU; Certificate nfDeposit and Share aucount2 $ 8.84144 Allianz Annuity; Contract#DA1949S4a n 18.770.42 Met Life Total Control Account #40578588094 $ 6.938.84 Prudential Alliance Account#87QO1003173422* $ 4.424.32 SECURNEWBONOS U.S. Savings Bonds Series EE (Q)a o 6.420.36 Dreyfus Disciplined Stock Fund;Account#0728-D0O1D17128 $ 36.829.69 Fidelity Funds Account#2/YV-D01GO6 $ 15.383.89 OTHER State Employees'Retirement System; final death benefit $ 314.20 Allstate; car and renters insurance refunds $ 450.89 Bethany Village; refunds $ 451.60 PEBTF; health insurance refund $ 140.59 AAA; refund $ 22.08 MetLife; life insurance prnceedo* $ 1.015.09 Prudential Life Insurance; life insurance proceeds $ 1.090A3 VAdeath benefit $ 100.00 Comenih/Capito/ Bank; refund $ 30.01 $ 117,315.55 u The PSECU funds were owned by Kent J. Reese and paid to Theodore Kent Reese, who subsequently disclaimed the funds into the Estate ofSuzanne E. Reese. 3A decedent's death that was attributable to activities and efforts of the decedent before death. It was required toberecognized aoincome for federal income tax purposes. |tisincluded inthe decedent's gross estate and iogross income when received (income inrespect ofodeoedont). *The MetLife Total Contua|Account, Prudential Alliance Account and MetLife life insurance proceeds represent nonprobate assets that were disclaimed byMargaret J. Luft and placed into the Estate ofSuzanne E. Reese and are being distributed according to Pennsylvania Intestacy Laws. 'A portion of the savings bonds(namely$4,520.36) represents money received after the decedent's death that was attributable toactivities and efforts ufthe decedent before death. It was required toberecognized asincome for federal income tax purposes. |tioincluded inthe decedent's gross estate and in gross income when received (income in respect of a decedent). omunu1n ESTATE OF SUZANNE E. REESE DATE OF DEATH NOVEMBER 20, 2014 INCOME SCHEDULE B DESCRIPTION Interest Income U.S. Savings Bonds Series EE (9) $ 79.00 Met Life Total Control Account#4057859809 $ 4.80 Prudential Alliance Account#87901003173422 $ 7.89 TOTAL INCOME $ 91.69 3/26/2015 ESTATE OFSUZANNE E. REESE DATE OF DEATH NOVEMBER 20, 2014 PRINCIPAL INCREASES/DECREASES SCHEDULE C DATE DESCRIPTION AMOUNT GAIN/LOSS 12/24/14 Sold Fidelity Funds Account#2AV-891606 Fidelity Growth Discovery Fund; 647.470 shs Sales Price $ 15,443.65 Cost Basis $ 15,383.89 $ 59.76 2/25/15 Sold Dreyfus Disciplined Stock Fund; 962.113 shs Sales Price $ 38,388.47 Cost Basis $ 36,829.69 $ 1,558.78 OTHER: 2/9/15 Allianz Annuity; Contract#DA194964 Death benefit paid 2/9/2015 $ 18,416.16 Date of death value $ 18,776.42 $ (360.26) $ 1,258.28 3/26/2015 ' . ^ ^ ESTATE OFSUZANNE EREESE DISBURSEMENTS SCHEDULED DESCRIPTION CATEGORY AMOUNT RomberQerMemorials; monument Funeral $ 4.695.00 Register ofWills; probate fees Adm $ 130.50 Register ofWills; additional probate fee Adm $ 230.00 Register VfWills; Family Settlement Agreement filing fee Adm $ 3000 PodhennonoFuneral Home; additional death certificates Adm $ 60.00 Jan LBrown &Associates; legal fee Adm $ 20.000.00 U.8.P.S.; registered mailing ofsavings bonds Adm $ 4.70 Cumberland Law Journal; legal advertising Adm $ 7500 The Sentinel; legal advertising Adm $ 179.92 Parks&Co; final personal income tax prep Adm * 3%00 Parks& Co: fiduciary income tax prep (EST|K0ATE) Adm $ 305.00 Pinnacle Health K8edioe} Group� outstanding medical bill Debt $ 14.18 Comcast; outstanding bill Debt $ 35.91 GM Card; outstanding bill Debt $ 535.01 Cornanit+B|air; outstanding bill Debt $ 88.07 Bethany Village; outstanding bill Debt $ 33.47 West Asset Management(AUy); leasing bill OeLd $ 3.487.14 Quantum Imaging; outstanding medical bill Debt $ 10.27 Register ofWills, A0ent� inheritance taxes Tax $ 44.802.08 USTreasury; 2014federal income tax Tax $ 1.801.00 PADepartment ofRevenue; 2O14state income tax Tax $ 1.065.00 ` 3/30/2015 ESTATE OF SUZANNE E. REESE DATE OF DEATH NOVEMBER 20, 2014 DISTRIBUTIONS TO BENEFICIARIES ACCORDING TO PENNSYLVANIA INTESTACY LAWS SCHEDULE E Theodore Kent Reese,son, 1/2 residuary estate 3101 Green Street Harrisburg, PA 17110 Cash distribution on or after 3/31/2015 $ 19,466.17 Margaret J. Luft,daughter, 112 residuary estate 2588-A Mt. Pleasant Road Mount Joy, PA 17552 Cash distribution on or after 3/31/2015 $ 19,466.18 $ 38,932.35 $ 38,932.35 3/30/2015