HomeMy WebLinkAbout04-06-15 (2) Pennsylvania 1505614105
°EPS'"�NTOF EX(03-14)(FI)
REV-1500 OFFICIAL USE ONLY
Bureau of Individual Taxes County Code Year File Number
PO BOX 280601 INHERITANCE TAX RETURN I
Harrisburg, PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death MMDDYYYY Date of Birth MMDDYYYY
10082014 11031928
Decedent's Last Name Suffix Decedent's First Name MI
FOREMAN MARGARET
(If Applicable)Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name MI
L —1 = r 11-1
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
1.Original Return O 2.Supplemental Return O 3. Remainder Return(date of death
prior to 12-13-82)
C=) 4.Agriculture Exemption(date of O 5.Future Interest Compromise(date of O 6. Federal Estate Tax Return Required
death on or after 7-1-2012) death after 12-12-82)
7. Decedent Died Testate O 8. Decedent Maintained a Living Trust 0 9. Total Number of Safe Deposit Boxes
(Attach copy of will.) (Attach copy of trust.)
O 10. Litigation Proceeds Received O 11.Non-Probate Transferee Return O 12. Deferral/Election of Spousal Trusts
(Schedule F and G Assets Only)
O 13.Business Assets O 14. Spouse is Sole Beneficiary
(No trust involved)
CORRESPONDENT- THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
ry
Name Daytime V�phone Numia s
Taylor P.Andrews, Esq. {717}2/m- 23 __D •
—4�C7
First Line of Address rM n '-- M
p, r—
78 W. Pomfret St4' rn
Second Line of Address ,>
l--+ Cl) ±
rTj
City or Post Office State ZIP Code ►--+ r'
Carlisle PA 17013 cn
Correspondent's email address: tpandrews@pa.net
REGISTER OF WILLS USE ONLY
REGISTER OF WILLS USE ONLY
DATE FILED MMM,,Y
DATE FILED STAMP
PLEASE USE ORIGINAL FORM ONLY
Side 1
6�ii1����i��i���E 1505614105 -,.�
1505614205
REV-1500 EX(FI) Decedent's Social Security Number
Decedent's Name: MARGARET E. FOREMAN [
RECAPITULATION
1, Real Estate(Schedule A). ............................................ 0.00
2. Stocks and Bonds(Schedule B) ... .... ................ ........... . .... 2. 0.00
3. Closely Held Corporation, Partnership or Sole-Proprietorship(Schedule C) ... .. 3. 0.00
4. Mortgages and Notes Receivable(Schedule D). .... ..... .... ... . . .. ..... . 4. 0.00
5. Cash,Bank Deposits and Miscellaneous Personal Property(Schedule E)....... 5. 2,248.79
6. Jointly Owned Property(Schedule F) C=) Separate Billing Requested ....... 6. 3,082.36
7. Inter-Vivos Transfers&Miscellaneous Non-Probate Property
(Schedule G) C=) Separate Billing Requested.... .. .. 7. 0.00
8. Total Gross Assets(total Lines I through 7).. ....... ..... ............... 8. 5,331.16
9. Funeral Expenses and Administrative Costs(Schedule H)..I........... ..... 91, 1,460.50
10. Debts of Decedent,Mortgage Liabilities and Liens(Schedule 1)............... 10. 1,380.13
11. Total Deductions(total Lines 9 and 10)... .. .. . .... ... ..... .... ... ... .. 11. 2,840.63
12. Net Value of Estate(Line 8 minus Line 11) ........ ....... . ............ .. 12. 2,490.52
13. Charitable and Governmental Bequests/Sec.9113 Trusts for which
an election to tax has not been made(Schedule J) .... ..... .......... .... . 13. 0.00
14. Net Value Subject to Tax(Line 12 minus Line 13) ........................ 14. 2,490.52
TAX CALCULATION-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.0 15.
16. Amount of Line 14 taxable
at lineal rate X.012 2,490.52 16. 298.86
17. Amount of Line 14 taxable
at sibling rate X.12 1 17.
18. Amount of Line 14 taxable I
at collateral rate X.15 18.
19. TAX DUE ............ .......... ....... .... ........ ........... .. 19. 298.86
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT C=
Under penalties of perjury,I declare 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 person responsible for filing the return is based on all information of which preparer has
any knowledge.
SIGNAT RE DF ERSON RESPONSIBFFILING RETURN DATE
V-3
AWRESS
1642_]la,t.i0virn R
k Mechopicsburg, PA 17055
SI EPrI ;8
PtkHEN PERSON RESPONSIBLE FOR FILING THE RETURN 9ATE,
tl _
ADM,KIS F %--' -- CJ
-
7VVU. Pomfret St., Carlisle, PA 17013
V
1111tIP1111111 1111111111111 Side 2
4 1505614205
REV-1500 EX (FI) Page 3 Fite Number
Decedent's Complete Address:
DECEDENT'S NAME
MARGARET E. FOREMAN
STREETADDRESS
801 N. Hanover St.
CITY STATE ZIP
Carlisle PA 17013
Tax Payments and Credits:
1. Tax Due(Page 2,Line 19) (1) 298.86
2. Credits/Payments
A.Prior Payments 0.00
B.Discount 0.00
(See instructions.) Total Credits(A+B) (2) 0.00
3. Interest
(3) 0.00
4. If Line 2 is greater than Line 1 +Line 3,enter the difference. This is the OVERPAYMENT.
Fill in oval on Page 2,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) 298.86
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.......................................................................................... ❑
b. retain the right to designate who shall use the property transferred or its income ............................................ ❑
c. retain a reversionary interest.............................................................................................................................. ❑
d. receive the promise for life of either payments,benefits or care?...................................................................... ❑ E
2. If death occurred after Dec.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?.............. ❑ E
4. Did decedent own an individual retirement account,annuity or other non-probate property,which
containsa 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.
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 Jan. 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 step-parent 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.
SCHEDULE
CASH,BANK DEPOSITS AND
MISCELLANIOUS PERSONAL PROPERTY
ESTATE OF FILE NUMBER
Margaret E. Foreman 21-14-1031
Include the proceeds of litigation and the date the proceeds were received by the estate
All property jointly-owned with Right of Survivorship must be disclosed on Schedule F
ITEM DESCRIPTION VALUE AT DATE
NUMBER OF DEATH
1 24 items of personal,jewelry $961.00
appraised by Ibis Appraisal Services-appraisal attached
2 Refund from Church of God resident's fund $146.23
3 Blue Shield refund $620.36
4 Federal income tax refund-2014 $430.00
5 Pa income tax refund-2014 $70.00
6 Humana refund $21.20
TOTAL(also on line 5,Recapitulation) $2,248.79
ESTATE APPRAISAL REPORT
PERSONAL PROPERTY
Personal Property of the Estate of.-
Margaret
fMargaret (Peggy) Foreman, deceased
Personalty Currently Located.
Andrews & Johnson Law Office
78 W. Pomfret St. Carlisle, PA 17013
Client:
Taylor Andrews, Esq.
Andrews & Johnson Law Office
78 W. Pomfret St. Carlisle, PA 17013
Intended Users:
Taylor Andrews, Esq.
The Family & Heirs of the Margaret (Peggy) Foreman Estate
Any Other Person(s) Authorized by the Client
Effective Date of Appraisal:
d.o.d. October 08, 2014
Date of Report:
March 02, 2015
By.
Ibis Appraisal
Services
145 N.Hanover St
P.O.Box 24
carlsle,PA 17013
(717)243-3474
in fogibisapptaisals.com
www ibisappraisals.com
Ibis Appraisal Services:Foreman Estate Personalty Appraisal Reported on March 02,2015
Effective Date:Date of Death: October 08,2014 Page 1 of 20
TABLE OF CONTENTS
Table of Contents 2
Cover Document 3
Appraisal Scope of Work 3
Approach to Value &Marketplace 3
Approaches to Value Not Used 4
Limiting Conditions 4
Report Notations and Observances S
Appraisal Summary 6
Personal Property Listing 7
Appraisal Summary(Copy) 12
Glossary 13
Appraisal Certification 15
References 16
Privacy Notice &Pension Protection Act of 2006 Statement 17
Statement of Qualifications 18
Digital Copy of Appraisal&Photogrpahs 20
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Effective Date:Date of Death: October 08,2014 Page 2 of 20
n
COVER DOCUMENT
Appraisal Scope of Work
The objective of this completed qualified appraisal report was to determine the fair market value
for the intended use of estate management and possible division of personalty. The effective date
of this appraisal report is as of the Date of Death: October 08, 2014. This appraisal was reported
and produced on March 02, 2015.
I hereby present this estate appraisal report of the personal property of Margaret (Peggy)
Foreman. The personal property consists of jewelry and a pocket watch. Margaret (Peggy)
Forman was understood to be the owner of the appraised personal property.
The client in this appraisal report is Taylor Andrews,Esq Andrews &Johnson Law Office
78 W. Pomfret St. Carlisle, PA 17013. The intended users of this appraisal report are Taylor
Andrews, Esq., the family and heirs of the Margaret (Peggy) Foreman Estate, and any other
person(s) authorized by the client.
I have personally and physically inspected, recorded, and analyzed the listed personal property
on March 02, 2015. The onsite examination and recordation took place at Ibis Appraisal Services
145 North Hanover St. Carlisle, PA 17013 by Alyssa L.W. Loney, ISA-AM. The personalty was
found to be in good condition.
Approach to Value & Marketplace
Sales Comparison Approach.
The Sales Comparison Approach to determine fair market value was used in this appraisal report.
The Sales Comparison Approach compares the item being appraised with the price at which the
property would change hands between a willing buyer and a willing seller. This methodology is
commonly used for divorces, estates, and federal non-cash charitable contributions.
The information, data, and values contained in this report are based upon relevant reliable
sources, reasoned justification, and rationale using a Sales Comparison Approach to determine
the Fair Market Value of the personal property. All of the fair market values reported have been
determined with consideration to the identification and condition of the items compared with the
market that is considered the most common for similar items, while taking into effect the market
conditions, and salability factors. The condition of the items is paramount to the valuation of the
personalty. The values are believed to be undiminished by any liens, fractional interests, or any
other form of encumbrance or alienation.
For determining the fair market value, the most common market for this personalty is through
public sale (public auction & seller-to-buyer). A market data analysis of comparable sales
transactions was used to reconcile the quality and quantity of data and contextualize the
personalty within the relevant marketplace. Relevant transactions and sale prices were researched
Ibis Appraisal Services:Foreman Estate Personalty Appraisal Reported on March 02,2015
Effective Date:Date of Death: October 08,2014 Page 3 of 20
through existing auction records, internet databases of sales, and offers to purchase from buyers.
If applicable, any statements, data or documentation provided by the clients, owners, or any
present persons are included in this report.
Fair Market Value is defined by IRS Treasury Regulation §20.2031-L:
"The fair market value is the price at which the property would change hands between a
willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both
having reasonable knowledge of relevant facts. The fair market value of a particular item of
property includible in the decedent's gross estate is not to be determined by a forced sale price.
Nor is the fair market value of an item of property to be determined by the sale price of the item
in a market other than that in which such item is most commonly sold to the public, taking into
account the location of the item wherever appropriate [Treasury Regulation §20.2031-1]."
Approaches to Value Not Used
Cost Approach.
The Cost Approach to determine value was not used in this appraisal report. The Cost Approach
compares the item being appraised with the cost to replace the item. This provides an estimate of
the cost to replace through production, reproduction, or purchase. [ISA Core Course Manual].
The Cost Approach is often used to determine Depreciation, Reproduction Cost, Production
Cost, Replacement Cost (NEW), and Replacement Cost (USED). This methodology is
commonly used for insurance and damage claims. The Cost Approach is not applicable to
determining the required Fair Market Value.
Income Approach.
The Income Approach to determining value was not used in this appraisal report. The Income
Approach involves the comparison with the income producing record of similar property and the
application of present worth formulas to determine present worth. This approach calculates the
equivalent present worth of income that is anticipated to be generated in the future [ISA Core
Course Manual]. The Income Approach can be used to determine, for example, the income of
leased items or the income from reproducing art prints. The Income.Approach is not applicable
to determining the required Fair Market Value.
Limiting Conditions
- An extraordinary assumption was used in the analysis, research, and determination that
the items were identified correctly.
- No hypothetical conditions were used in this appraisal report.
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Effective Date:Date of Death: October 08,2014 Page 4 of 20
f `
t
Report Notations and Observances
This appraisal is to be used ONLY (limited-use) for the function of helping estate management
and possible division of personalty. With exception of the clients, use of this report or
publication by others is not intended, and any other use of this appraisal renders it null and void.
Reproduction of this report must include the report in its entirety including all cover documents,
attachments, appendixes and data. Only the appraiser shall make changes to any description in
this appraisal report.-This appraisal is not an indication or certificate of title or ownership. The
identification of the interest of the clients has been represented to the appraiser by the clients and
no inquiry, investigation or opinion will be made as to the truth of such representation.
The terms of any agreement or understanding entered into (or expected to be entered into) by or
on behalf of the clients that relates to the use, sale or other disposition of the personal property is
not known as of the date of the valuation and appraisal report production.
The appraiser assumed that a normal and careful examination of the property was sufficient to
determine its quality and condition, and that no extraordinary examination procedures were to be
utilized, unless these were specially requested and the expenditure of funds therefore authorized.
Unless otherwise stated herein, this appraisal is based only on the readily apparent identity of the
personal property appraised. In my opinion no further guarantee of authenticity, genuineness,
attribution or authorship is necessary.
Ibis Appraisal
jervices, LLC
ISA
Alyssa L.W.Loney,ISA-AM INTERNATIONAL
Director&CEO SOCIETY,-/APPRAISERS ERS
SA Accredited Member
---Accc c red- --------
ited Member
Ibis Appraisal Services:Foreman Estate Personalty Appraisal Reported on March 02,2015
Effective Date:Date of Death: October 08,2014 Page 5 of 20
e
APPRAISAL SUNEVLARY
It is in my opinion, that as of the d.o.d. October 08, 2014 and reported on March 02, 2015 the
Fair Market Value of the Estate Personal Property of Margaret(Peggy) Foreman:
(Nine Hundred Sixty-One Dollars and Zero Cents)
($961.00)
r
bis ppraisal
rvice LC
sa L. Lo ,ISA-AM
Dire r&CEO
SA Accredited Member
I SA
INTERNATIONAL
SOCIETY VJAPPRAISERS
Accredited Member
The report must be read in its entirety.
The Appraisal Summary ONLY is not the appraisal report
Ibis Appraisal Services:Foreman Estate Personalty Appraisal Reported on March 02,2015
Effective Date:Date of Death: October 08,2014 Page 6 of 20
PERSONAL PROPERTY LISTING
Gold Price as of d.o.d. October 08, 2014: $1,223.90
Location: Box labeled: Leah & Lauryn
Pearl Heart Pendant&Chain. Faux pearl heart pendant $1.00
¢r� and gold-plated chain.
Corresponding Digital Photograph File: img 13 60jpg
2 Pin/Pendant. Avon silver-toned pin/pendant with $2.00
rhinestone gemstone.
A; Corresponding Digital Photograph File: img 1362 jpg
3 - . Cameo. Plastic molded cameo with gold-plated setting. $0.50
Corresponding Digital Photograph File: img 1363 jpg
` I
{ 1
4 Bar Pin. l Ok white gold bar pin with one diamond at $35.00
0.03 carat. 2.2 grams.
Corresponding Digital Photograph File: img 1364. '
5 { Ring. Gold-plated faux pearl and rhinestone ring. $0.25
Corresponding Digital Photograph File: img 1367 jpg
6
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Effective Date:Date of Death:October 08,2014 Page 7 of 20
6 Ring. 14k yellow gold ring with one round cut diamond $75.00
at 0.15 carat. 3.0 grams.
Corresponding Digital Photograph File: img 1366j
pg
ict V.
Location: Box labeled: Wendy & Wihna
7 Scarab Circle Pin. Small scarab circle pin in gold-plated $20.00
setting.
Corresponding Digital Photograph File: img 1369 jpg
i ."
8 „� " _ Floral Pin. Ceramic flower pin. $0.50
. Corresponding Digital Photograph File: img 1370 jpg
9 Pearl Circle Pin. Faux pearl circle pin in gold-plated $0.25
setting.
�-= L Corresponding Digital Photograph File: img 1371 jpg
10 ; Ring. 14k yellow gold ring with one 4.25mm pearl. 1.5 $35.00
I grams.
Corresponding Digital Photograph File: img 13 72jpg
4;
11 4 Ring. IOk white gold ring with one 6.50mm pearl and $55.00
► , two diamonds at 0.05 carat each. 2.8 grams.
Corresponding Digital Photograph File: img 13 73jpg
Ibis Appraisal Services:Foreman Estate Personalty Appraisal Reported on March 02,2015
Effective Date:Date of Death: October 08,2014 Page 8 of 20
Location: Box labeled: Wendy & Wilma
12 Cameo.Art Deco cameo in gold-filled setting. $75.00
Corresponding Digital Photograph File: img 1374 jpg
13 Pendant& Chain. 10k Art Deco pendant with small $30.00
ruby stone and mother-of-pearl dangle bead on gold-
plated chain. 0.8 grams.
Corresponding Digital Photograph File: img j375.jpg
K
Location: Clear plastic box with butterfly lid
1747 Cameo, Large shell-carved cameo with Greece god and $225.00
goddess motif.
Corresponding Digital Photograph File: img 1377 j
pg
15 t j Watch Fob. Long,thin rolled-gold(gold-plated)watch $0.50
fob.
CorreVondinDigital Photograph File: img 1380.j
S _pg
_T6_ AW--, Watch Fob. Thick rolled-gold (gold-plated)watch fob $0.50
Corresponding Digital Photograph File: img 1381-jPg
17 Diamond Pendant&Chain. 14k yellow gold diamond $95.00
solitaire pendant and 14k yellow gold chain. Diamond:
0.25 carat. 1.3 grams.
— orresponding Digital Photograph File: iq!g 1382.jpg
Ibis Appraisal Services:Foreman Estate Personalty Appraisal Reported on March 02,2015
Effective Date:Date of Death: October 08,2014 Page 9 of 20
Location: White envelope labeled: Sandy
T8_ Pin. Micro-mosaic pin with floral motif. $8.00
Corresponding Digital Photograph File: img j386.jpg
19 Costume Pin. Costume apple pin. $0.50
Corresponding Digital Photograph File: img_1 388.jpg
Location: Baggie labeled: Jim
20 Pocket Watch. 1896 14k yellow gold Ladies Elgin $300.00
12 pocket watch. 7jewel. Serial Number: 6836577.
Corresponding Digital Photograph Files: img 1391-
img_1393.jpg
14:1
21
Chain. Gold-plated chain. $0.25
L Corresponding Digital Photograph File: img 1395,jpg
Location: Baggie,with no label
22
Pendant& Chain. Gold-plated pendant with silver-toned $1.00
metal stone(faux diamond)and gold-plated chain.
Corresponding Digital Photograph File: img 1397 j
pg
Location: Bag ie with no label.
23 Costume Earrings Pair of costume jewelry enameled $0.50
earrings.
Corresponding Digital Photograph File: img j398.jpg
T_
Ibis Appraisal Services:Foreman Estate Personalty Appraisal Reported on March 02,2015
Effective Date:Date of Death: October 08,2014 Page 10 of 20
24
' Costume Pin. Rhinestone angel costume pin.
•- Corresponding Digital.Photograph File: im 1399. ' $0 25
g JPg
Total $961.00
Ibis Appraisal Services:Foreman Estate personalty Appraisal
Effective Date:Date of Death: October 08,2014 Reported on March 02,2015
Page 11 of 20
APPRAISAL SUMMARY
It is in my opinion, that as of the d.o.d. October 08, 2014 and reported on March 02, 2015 the
Fair Market Value of the Estate Personal Property of Margaret(Peggy)Foreman:
(Nine Hundred Sixty-One Dollars and Zero Cents)
($961.00)
bis ppraisal
er�ic , LLC
z
rsa L. L ,ISA-AM
Dir for& CEO
SA Accredited Member
I SA
INTERNATIONAL
SOCIETY APPRAISERS
Accredited Member
The.report must be read in its entirety.
The Appraisal Summary ONLY is not the appraisal report.
Ibis Appraisal Services:Foreman Estate Personalty Appraisal Reported on March 02,2015
Effective Date:Date of Death: October 08,2014 Page 12 of 20
GLOSSARY
Cost Approach. Compares the item being appraised with the cost to replace the item. This
provides an estimate of the cost to replace through production, reproduction, or purchase [ISA
Core Course Manual].
Extraordinary Assumption. A limiting condition where an assumption, directly related to a
specific assignment, which, if found to be false, could alter the appraiser's opinions or
conclusions [USPAP].
Fair Market Value. The fair market value is the price at which the property would change hands
between a willing buyer and a willing seller,neither being under any compulsion to buy or to sell
and both having reasonable knowledge of relevant facts. The fair market value of a particular
item of property includible in the decedent's gross estate is not to be determined by a forced sale
price. Nor is the fair market value of an item of property to be determined by the sale price of the
item in a market other than that in which such item is most commonly sold to the public, taking
into account the location of the item wherever appropriate [Treasury Regulation §20.2031-1].
Hypothetical Condition. A limiting condition where that which is contrary to what exists but is
supposed for the purpose of analysis [USPAP].
I.S.A. or ISA. International Society of Appraisers.
Income Approach. Involves the comparison with the income producing record of similar
property and the application of present worth formulas to determine present worth (used
primarily for investment property) [ISA Core Course Manual].
Limiting Conditions. Prevailing conditions that adversely affect the appraisal process and, as a
consequence,possibly the value conclusion [ISA Core Course Manual].
Present Worth. An accounting term that represents the current amount, in terms of dollars, that
would be the equivalent of income generated by the sale of property at some point in the future
or the stream of income generated by leasing property for a specified amount of time [ISA Core
Course Manual].
Production Cost. The total cost of constructing an equally good substitute or an equivalent [ISA
Core Course Manual].
Readily Apparent Identity. What the appraiser observes and concludes based on their personal
knowledge and previous experiences [ISA Core Course Manual].
Replacement Cost(NEW). The cost necessary to replace an item of personal property with a new
item of like kind, quality, and utility [ISA Core Course Manual].
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Effective Date:Date of Death: October 08,2014 Page 13 of 20
t
Replacement Cost (USED). The cost necessary to replace an item of personal property with an
equivalent item having similar appearance, quality, condition, age, authorship and utility, having
similar wear and tear, decay or defects, and obsolescence as the item being appraised [ISA Core
Course Manual].
Reproduction Cost. The total cost of constructing an exact replica, using the same materials and
construction techniques as the original by a qualified craftsman [ISA Core Course Manual].
Sale Comparison Approach. A process of analyzing the sales of similar (comparable) sold
properties in order to derive an indication of the most probably value of the property being
appraised. Based on the assumption that:
- a reasonably prudent person will not pay more to acquire a property than it would cost to
acquire a comparable substitute property;
- a prudent seller will not ordinarily sell a property for less than other sellers will be able to
get for their similar properties [ISA Core Course Manual].
U.S. or US. United States.
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Effective Date:Date of Death: October 08,2014 Page 14 of 20
CERTIFICATION OF APPRAISAL
I certify that,to the best of my knowledge and belief:
- The statements of fact contained in this report are true and correct.
- The reported analyses, opinions, and conclusions are limited only by the reported
assumptions and limiting conditions and are my personal, impartial, and unbiased
professional analyses, opinions, and conclusions.
- I have no present or prospective interest in the property that is the subject of this report
and no personal interest with respect to the parties involved.
- I have performed no services, as an appraiser or in any other capacity, regarding the
property that is the subject of this report within the three-year period immediately
preceding acceptance of this assignment.
- I have no bias with respect to the property that is the subject of this report or to the parties
involved with this assignment.
- My engagement in this assignment was not contingent upon developing or reporting
predetermined results.
- My compensation for completing this assignment is not contingent upon the development
or reporting of a predetermined value or direction in value that favors the cause of the
client, the amount of the value opinion, the attainment of a stipulated result, or the
occurrence of a subsequent event directly related to the intended use of this appraisal.
- My analyses, opinions, and conclusions were developed, and this report has been
prepared, in conformity with the 2015 Uniform Standards of Professional Appraisal
Practice and the International Society of Appraisers standards and ethics.
- I have made a personal inspection of the property that is the subject of this report.
- No on provided significant personal property appraisal assistance to the person signing
this certification.
rAlyAssa
6is Appraisal
je ces, LLC
I
W.` ney, ISA-AM1NTERNATIONAL
ector& CEO SOCIETY�, APPRAISERS
SA Acc2ited Member
Accredited Member
March 2,2015
Ibis Appraisal Services:Foreman Estate Personalty Appraisal Reported on March 02,2015
Effective Date:Date of Death: October 08,2014 Page 15 of 20
APPRAISAL REFERENCES
X-"
American Societyof Appraisers. httD://www.appraisers.org/
Bid Squar .http://www.bidsquare.com/
Brunk Auctions. 117 Tunnel Rd. Asheville,NC 28805. http://www.brunkauctions.com/
Cordier Antiques&Auctions. 1500 Paxton St. Harrisburg,PA 17104.
http://www.cordierantiques.com
Doyle New York. 175 East 87b St.New York,NY 10128. http://www.doylenewyork.com/
Ebay. http://www.ebay.com
Foundation for Appraisal Education. http://www.foundationforappraisaleducation.org/
I.R.S. Publication 561: Determining the Value of Donated Property. http://www.irs.gov/pub/irs-
pdf/p561.pdf
Internal Revenue Reaulatio . Section 1.170A-1(c)(2).
International Socigtyy of Appraisers. https://www.isa-appraisers.org/
Live Auctioneers. http://www.liveauctioneers.com
Mg_rphy Auctions. 2000 North Reading Rd. Denver,PA 17517.
http://www.morphyauctions.com/
Pook&Pook. 463 East Lancaster Ave. Downingtown, PA 19335.
h-ttp://www.pookandpook.com/
Uniform Standards of Professional Appraisal Practice. http://www.appraisalfoundation.org
Worthpoint. http://www.worthpoint.com
This Appraisal Services:Foreman Estate Personalty Appraisal Reported on March 02,2015
Effective Date:Date of Death:October 08,2014 Page 16 of 20
SCHEDULE F
JOINTLY-OWNED PROPERTY
ESTATE OF FILE NUMBER
Marszaret E. Foreman 21-14-1431
if an asset was made joint within one year of the decedent's death,it must be reported on Schedule G
Surviving Joint Tenant(s):
NAME ADDRESS RELATIONSHIP TO
DECEDENT
A Richard D.Foreman,Sr. 1642 West Lisburn Rd.,Mechanicsburg,PA 17055 Brother
B
C
Jointly-owned property:
ITEM NUMBER LETTER FOR DATE MADE DESCRIPTION OF PROPERTY INCLUDE NAME OF TOTAL VALUE OF DECD'S%INT. DOLLAR VALUE OF DECEDENTS
JOINT TENANT JOINT iNSTITUTION AND BANK ACCOUNT NUMBER OR ASSET INTEREST
SIMILAR IDENTIFYING NUMBER.ATTACH DEED
FOR JOINTLY-HELD REAL ESTATE
I A 28-Mar-03 Checking account with $6,165 50% $3,082
Orrstown Bank
108002127
TOTAL(also on line 6,Recapitulation) $3,082
ORRSTOWN
BANK
A Tradition of Excellence
December 12,2014
Andrews &Johnson
Attorneys at Law
78 W Pomfret St
Carlisle PA 17013
Fax: 717-243-0061
Re: Estate of Margaret E Foreman
Social Security Number
Date of Death 10/8/14
IT IS HEREBY CERTIFIED THAT THE ABOVE NAMED DECEDENT HAD THE
FOLLOWING ACCOUNT WITH ORRSTOWN BANK:
CHECKING ACCOUNT
Account No- 108002127
Account Type- 50+Interest Checking Images
Account Title- Margaret E Foreman/Richard D Foreman Sr
Date Opened- 09/29/97
Joint Account(name/date) Yes Richard D Foreman 03/28/03
Balance- $6,164.72
Accrued Interest $0.01
Best Regards,
Susan R. Eyer "
Deposit Processing Representative H
2695 Philadelphia Avenue• Chambersburg, PA 17201
SCHEDULE H
FUNERAL EXPENSES,ADMINISTRATIVE
COSTS AND MISCELLANEOUS EXPENSES
ESTATE OF FILE NUMBER
Margaret E. Foreman 21-14-1031
Debts of decedent must be reported on Schedule 1.
ITEM DESCRIPTION AMOUNT
NUMBER
A. Funeral Expenses:
I Gingrich Memorials $175.00
2
B. Administrative Costs:
I Personal Representive Commissions
Name of Personal Representative(s)
Social Security Number of Personal Representative:
Street Address:
City: State: Zip:
Year(s)commissions paid:
2 Attorney fees to Andrews&Johnson $700.00
3 Family Exemption
Claimant
Street:
City: State&Zip
Relationship of Claimant to Decedent:
4 Probate Fees to Register of Wills $155.50
5 Accountant Fees
6 Tax Return Preparer's Fees $355.00
7 Appraisal fee $75.00
8
9
10
11
12
13
14
15
16
17
18
19
TOTAL(also on line 9,Recapitulation) $1,460.50
SCHEDULE1
DEBTS OF DECEDENT
MORTGAGE LIABILITIES AND LIENS
ESTATE OF FILE NUMBER
Margaret E. Foreman 21-14-1031
Report debts incurred by the decedent prior to death which remained unpaid as of the date of death,including unreimbursed medical expenses.
ITEM DESCRIPTION VALUE AT DATE
NUMBER OF DEATH
I Church of God Home-final bill $1,380.13
TOTAL(also on line 10,Recapitulation) $1,380.13
SCHEDULE J
BENEFICIARIES
ESTATE OF FILE NUMBER
-Margaret E. Foreman 21-14-1031
ITEM NAME AND ADDRESS OF BENEFICIARY RELATIONSHIP AMOUNT OR SHARE
NUMBER Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS[include outright spousal distributions,and transfers under Sec.9116(a)(1.2)1
1 Richard D.Foreman 1642 West Lisburn Rd., Brother 50%
Mechanicsburg,PA 17055
2 James W.Foreman, 8707 S.W. 88th Court Rd#A Brother 50%
Ocala,FL 34481
II NON-TAXABLE DISTRIBUTIONS:
A.SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
B.Charitable and Governmental Bequests:
TOTAL CHARITABLE AND GOVERNMENTAL BEQUESTS(also enter on line 13,Recapitulation) $0
r
s �
LAST WILL AND TESTAMENT
OF
MARGARET E. FOREMAN
I,MARGARET E.FOREMAN,of Carlisle,Cumberland County,Pennsylvania,declare this
to be my Last Will and Testament and revoke any and all wills and codicils heretofore made by me.
ITEM I: My personal representative shall pay from the residue of my estate the
expenses of my last illness, funeral and burial debts duly allowed against my estate, and all death
taxes(Pennsylvania inheritance tax and federal estate tax)occasioned by my death and incurred with
respect to all property taxed to my estate regardless of whether such property passes by this Will or
passes outside of this Will.
f ITEM II: I give and bequeath the jewelry in my safe deposit box to the
individuals designated on the label on each item. I give and bequeath my other tangible personal
property as set forth in a separate memorandum that I shall place with my Will to the persons therein
designated. If I shall leave no separate memorandum, or with regard to my tangible personal
property not referenced by such memorandum [excluding the labeled jewelry in my safe deposit
box], I bequeath such articles as they shall amicably agree upon among themselves, in two equal
shares,with one equal share for each of my two brothers and his wife,as tenants by the entireties. If
either of my brothers and his wife shall be deceased,the selection of that brother shall be made by
1
his oldest living child for that child and on behalf of any siblings of that child. Any items that my
brothers shall fail to agree upon shall be sold at public or private sale and the proceeds shall pass
with the residue of my estate.
ITEM III: I devise and bequeath the residue of my estate, of every nature and
wherever situate,in equal shares to each of my two brothers,RICHARD D.FOREMAN and JAMES
W. FOREMAN. If either of my brothers shall predecease me, I give and bequeath his share to his
surviving spouse, and if there shall be no surviving spouse to his children.
ITEM IV: I direct my Executor to sell at either public or private sale all my
personal property not otherwise herein disposed and to add the proceeds to my residuary estate.
1f
J
ITEM V: Any share of my estate that shall become distributable to a minor
J
beneficiary shall be held by the parent of or other person maintaining the minor until the minor
attains the age of eighteen(18)years.
ITEM VI: I appoint my brother Richard D. Foreman, Executor of this my Last
Will and Testament. Should he fail to qualify or cease to act as Executor,I appoint his son, Steven
Foreman, as Executor of my estate.
2
ITEM VII: I direct that my Executor and his successors shall not be required to
give bond for the faithful performance of his duties in this or any other jurisdiction.
IN WITNESS WHEREOF,I,MARGARET E.FOREMAN,have hereunto set my hand
and seal to this my Last Will and Testament, consisting of four (4) printed pages, each of which
bears my signature, this day of June 2004.
(SEAL)
MARC T E. FOREMAN, Testatrix
Signed, sealed, published and declared by the above-named Testatrix, MARGARET E.
FOREMAN, as and for her Last Will and Testament, in the presence of us,who,at her request,in
her sight and presence, and in the sight and presence of each other, have hereunto subscribed our
names as witnesses.
3
COMMONWEALTH OF PENNSYLVANIA )
SS.
COUNTY OF CUMBERLAND )
�Onc,-\d
WE, MARGARET E. FOREMAN, TAYLOR P. ANDREWS, and
E D 011✓S o the Testatrix and witnesses,respectively,whose names are signed
�
to the foregoing or attached instrument,being first duly sworn,do hereby declare to the undersigned
authority that the Testatrix signed and executed the instrument as and for her Last Will and
Testament and that she signed willingly and that she executed as her free and voluntary act for the
purposes therein expressed, and that each.of the witnesses, in the presence and hearing of the
Testatrix,signed the Will as witnesses and that to the best of their knowledge the Testatrix was at the
time eighteen(18)or more years of age,of sound mind and under no constraint or undue influence.
MAR E. Testatrix
T P. Andrews, Witness
fARGARET
ss
Subscribed, sworn to and acknowledged before me by E. FOREMAN,the
Te rix, and subscribed to and sworn or affirmed to before e by TAYLOR P. ANDREWS and
witnesses,this 3day o June 2004.
E
ARIAL SEAL (SEAL)
XTON, Notary Public, Cumberland County Notary Publicn Expires April 26, 2007
4