HomeMy WebLinkAbout07-28-15 1505611101
REV-1500 Ex(02-11) 1�
OFFICIAL USE ONLY
PA Department of Revenue pennsylvania
oEo.A*�EMo aE�E��E County Code Year File Number
Bureau 2Individual Taxes INHERITANCE TAX RETURN t
PO BOX 8o6oi
Harrisburg,PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death MMDDYYYY Date of Birth MMDDYYYY
aSo'3 �a r
J0 1 2,-
Decedent's Last Name Suffix Decedent's First Name MI
(If Applicable)Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name MI
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
® 1.Original Return G 2.Supplemental Return Q 3. Remainder Return(Date of Death
Prior to 12-13-82)
C=D 4. Limited Estate Q 4a. Future Interest Compromise(date of O 5. Federal Estate Tax Return Required
death after 12-12-82)
® 6. Decedent Died Testate O 7. Decedent Maintained a Living Trust 8. Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust.)
O 9. Litigation Proceeds Received O 10.Spousal Poverty Credit(Date of Death O 11. Election to Tax under Sec.9113(A)
Between 12-31-91 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
MAP 1<E14M 1 C_P, 9of 5-o0 :s 30
i
REGISTEROF WILLS USE Y
C? C - frl v
C__ Ca
First Line of Address -7) t— .
C7
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Second Line of Address - ;K C (Z
=% C-,) CD -n
City or Post Office State ZIP Code PATE FILED i"- M
E71N 1*tqp. f4 co
Correspondent's e-mail address: A-OL— , CQ M
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 rer other than the personal representative is based on all information of which preparer has any knowledge.
fSIGNATURE OF - 6N'RESP, NSIBLE FOR FILING RET N DATE `l
ADDRESSopw 4&A , r
1: e
SIGNATURE OF PREPARER OTHER THAA REPRESENTATIVE .►sr DATE
AD S
PLEASE USE ORIGINAL FORM ONLY
Side 1
1505611101 1505611101
1505611201
REV-1500 EX
C/) �/+-•�/� -- r(}� `� ♦ Decedent's Social Security
Number
Decedent's Name: ElrGI"tiz)k �' p) ��fhl �4 e�
s
RECAPITULATION
1. Real Estate(Schedule A). .... .. . .. . .. . ... . .... .... .. .. .. . . .. . . .. .... . 1. 0• f__
2. Stocks and Bonds(Schedule B) .. ... . .. . ... . . .. .. .. .... .. .. .... .... .. . 2. O•
3. Closely Held Corporation,Partnership or Sole-Proprietorship(Schedule C) . .. .. 3. 0. -'
4. Mortgages and Notes Receivable(Schedule D) . . . . .... . .. . .. . . .. .... .. .. . 4. D•
5. Cash, Bank Deposits and Miscellaneous Personal Property(Schedule E)... . ... 5. -79 P- 7
6. Jointly Owned Property(Schedule F) O Separate Billing Requested ... . .. . 6. �.
7. Inter-Vivos Transfers&Miscellaneous Non-Probate Property
(Schedule G) O Separate Billing Requested... .. ... 7. d. .-..
8. Total Gross Assets(total Lines 1 through 7). . .. . . .. . . .. . . .. . ... . .. .... . . 8. 7 4- "f L�
9. Funeral Expenses and Administrative Costs(Schedule H). .. .. .. ... .... .... . 9.
10. Debts of Decedent, Mortgage Liabilities and Liens(Schedule 1). .. .. . . ... .... . 10.
11. Total Deductions(total Lines 9 and 10).. . . .. . . ... ... . ... . .... .. .. ... . .. 11.
12. Net Value of Estate(Line 8 minus Line 11) . ... ... . ... . .... .. . . .. . ..•. ... 12.
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which !!
an election to tax has not been made(Schedule J) .. .. .. .. . ... . ... . ...... . 13. 1
14. Net Value Subject to Tax(Line 12 minus Line 13) . .. .. .. .. .. . . .. . ... . .... 14.
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. 06 r-
16. Amount of Line 14 taxable ^�
at lineal rate X.0 IS, 16. / - / • 9
17. Amount of Line 14 taxable
at sibling rate X.12 17. -
18. Amount of Line 14 taxable r
at collateral rate X.15 , ' 18. ` QQ• i"'�'
19. TAX DUE . .. . .. .. ... . .. .. .. . . ... .. . . .'.. ... . ... . ;
9'
... .. .. .... .... . .. . 19. a , ;
REV-1500 EX Page 3 File Number
Decedent's Complete Address:
DECEDENT'S NAME
F,L.0A-Atoll z• t`�i 1LE� 1'�t 1 E2.
STREETADDRE//S��S��.��..+g—
On W/*L--Af a i-
CITY 0-A-02-L s LE STATS ZIP
A- 0)
Tax Payments and Credits:
1. Tax Due(Page 2,Line 19) (1)
2. Credits/Payments /�
A.Prior Payments Q
B.Discount
Total Credits(A+B) (2) (�
3. Interest
(3)
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) 0,
5. If Line 1 +Line 3 is greater than Line 2,enter the difference.This is the TAX DUE. (5) !�r 3�
4ke 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 .......................................:.... ❑ LSP,/
c. retain a reversionary interest .............................................................................................................................. ❑
d. receive the promise for life of either payments,benefits or care?...................................................................... ❑ I�
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?.............. ❑ L�
4. Did decedent own an individual retirement account,annuity or other non-probate property,which
contains a beneficiary designation? ................................................................................................................
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES,YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
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 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-1511'EX+(10-09)
pennsylvania SCHEDULE H
DEPARTMENT OF REVENUE FUNERAL EXPENSES AND
INHERITANCE TAX'RETURN ADMIINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Decedent's debts must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. 1 FUNERAL EXPENSES: r 2—
B.
B. ADMINISTRATIVE COSTS:
1. Personal Representative Commissions:
Name(s)of Personal Representative(s)
Street Address
City State ZIP
Year(s)Commission'Paid:
2. Attorney Fees:
3. Family Exemption:(If decedent's address is not the same as claimants,attach explanation.)
Claimant
Street Address
City State ZIP
Relationship of Claimant to Decedent
4. Probate Fees:
5. Accountant fees:
6. Tax Return Preparer Fees:
7. GY'
TOTAL(Also enter on Line 9, Recapitulation) $ q6,
If more space is needed,use additional sheets of paper of the same size.
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2JtY Y. ,
REGISTER OF WILLS Certificate of Grant of Letters
CUMBERLAND COUNTY,PENNSYLVANIA
No.21-2015-0624
PA No.21-2015-0624
ESTATE OF Eleanor Z.Birkenmeier
a/k/a Eleanor Zielsdorff Birkenmeier.a/k/a Eleanor Louise
Zielsdorff Birk-enmeier
Late Of Carlisle Borough.Cumberland County,Deceased
Social Security No. r
WHEREAS, On the 4th day of June,2015,the instrument dated
December 21, 1999, was admitted to probate as the Last Will of Eleanor Z. Birkenmeier
a/k/a Eleanor Zielsdorff Birkenmeier,a/k/a Eleanor Louise Zielsdorff Birkenmeier late of
Carlisle Borough,who died on the 3rd day of May,2015, and
WHEREAS,a true copy of the.will as probated is annexed hereto..
THEREFORE, I,Lisa M. Grayson,Esq.,Register of Wills in and for the County of
Cumberland,in the Commonwealth of Pennsylvania,hereby certify that I have this day
granted Letters Testamentary to Marilyn J.Birkenmeier,Barbara B. Wekluk, Stuart R.
Birkenmeier, who duly qualified as Executors and who agreed to administer the estate
according to law,all of which fully appears of record in my office at Carlisle,
Pennsylvania.
IN TESTIMONY WHEREOF;I have hereunto set MY hand and affixed the seal.of my office
the 4th day of June,2015.
Register Wills
Deputy Eja
**NOTE** ALL NAAIESABOVE APPEAR (FIRST, MIDDLE,
LAST)
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C-> TTI
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ELEANOR Z.BIRKENMEEER
1, ELEANOR Z. BIRIKENMEIER, domiciled and residing at 62 Commonwealth birive,,
Basking Ridge, Somerset County, New Jersey, declare this instrument to be my Last Will and
Testament.
ARTICLE I
INTRODUCTION
A: PRIOR WILLS I revoke all Wills and Codicils previously made by me.
B: PAYMENT OF DEBTS AND EXPENSES. My funeral expenses, my debts (other
than debts, if any, secured by mortgages on real estate), the expenses of my estate and other proper
charges against my estate shall be paid out of my estate assets as soon after my death as conveniently
may be done.
C: IDENTIFICATIONS. At the time this Will is written, I am not married, and I have
three children, BARBARA B. WEIKLUK, MARILYN J. BIRHENMEIER., and STUART R.
BIRKENMEIEP.. References in this Will to "children" or "issue", however, shall include persons
born or adopted(if adopted prior to the age of fourteen(14)years)before or after the date of this Will.
�j.
R1 'IrE
DISPOSMO OF TANGIBLE PERSON�L PROPERT X
I give and bequeath, absolutely and forever, any automobiles which I may own, all my
personal wearing apparel and jewelry, any household fii niture and furnishings which I may own, and
all other tangible personal property owned by me,in accordance with a written statement or list,in my
handwriting or signed by me, which I have prepared or may prepare and/or supplement from time to
time on or after the date hereof If no such statement or list is found within sixty (60) days after my
death,it shall be conclusively presumed that there is no such statement or list and distribution may be
made on that basis. All such property not passing pursuant to such statement or list,I give to my issue
who survive me,pe g= . If no issue of mine survives me, then such property shall pass together
with the balance of my property pursuant to Article 3 below.
ARTJACLE 3
RESIDUARY ESTATE
A: DJSPOS ON-OF RESODUARY EST-AT-E. If any of my issue survives me, then
the rest of my property (hereinafter known as my "residuary estate") shall be distributed to my issue
who survive me,M aftems,subject to the directions hereinafter set forth in Paragraph B of this Article
3. If no issue of mine survives me, then my residuary estate shall be distributed subject to the
directions hereinafter set forth in Paragraph C of this Article 3.
B: AD WRdSTRATION OF CONTINGM TRUST(S) EM ISSUE. Whenever any
interest in property is to be distributed to a person subject to the directions set forth in this Paragraph
B,that interest shall be distributed as follows:
(1) If the person is at least forty(40)years old at the time for distribution,the entire
interest shall be distributed to hint or her outright and free of trust.
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at the time=oi ddsz 1C - . ,2'3'1 t t E he interest shall be distributed to
hien or her outs eht and free of trust.
(3) If the person is at least thirty(30)years old but not yet thirty-five(35) years old
at the time for distribution,one-third(1/3)of the interest shall be distributed to
him or her outright and free of trust.
The balance of the person's interest, if any, shall be held by my Trustees in a separate trust for the
benefit of the person in accordance with the following terms and conditions:
(i) PAYMENT(}F INCOME.
(a) Prier to Age 21. My Trustees shall pay to, or apply for the benefit of,
any person for whom a trust was established pursuant to this Paragraph B and who has not reached the
age of twenty-one (21) years, such amounts from the net income of his or her trust as my Trustees
deem necessary or desirable for such person's health, education, support and maintenance, adding any
excess income to principal at the discretion of my Trustees.
(b) After Attaining An 21< My Trustees shall pay to, or apply for the
benefit of, any person for whom a trust was established pursuant to this Paragraph B and who has
attained the age of twenty-one (21) years, all of the net income of his or her trust, in convenient
installments,but not less frequently than quarter-annually.
(h) PAYMENT OF PRINCIPAL My Trustees shall pay to, or apply for the
benefit of, any person for whom a trust was established pursuant to this Paragraph B, such amounts
from the principal of his or her trust as my Trustees deem necessary or desirable for such person's
health,education,support and maintenance.
(iii) DISTRE�RUT ONS. When a person for whom a trust was established
pursuant to this Paragraph B attains the age of thirty(30)years during the term of such trust, on or as
soon as practicable after such birthday,my Trustees shall distribute to the person, outright and free of
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Met
'fs'_4 �z ?L �i-' ,::T� ..�s::o _... ��= _.. S _w. - - = �' �w dimems:F3 illi term of
such trust, on or as soon as practicable after such birthday-, my Trustees shall distribute to the person,
outright and free of trust,one-half(1/2)of the balance of such trust as of that birthday. When a person
for whom a trust was established pursuant to this Paragraph B attains the age of forty(40)years,on or
as soon as practicable after such birthday, my Trustees shall distribute to the person, outright and free
of trust,the entire balance of such trust Such trust shall then terminate.
(iv) DEATH OF PERSON PRIOR TO DIMMMON OF ENTIRE
TRUST, If a person for whom a trust was established pursuant to this Paragraph B dies before his or
her respective trust is completely distributed,the remainder of such person's trust shall be paid to such
person's then living issue, p—er 9Q , and, if none, to his or her then living brothers and sisters,
stiroes(including only persons who are my issue),if any,and,if none,then to my then living issue,ate
goes;MAde
A however,that each portion otherwise payable to any of my issue who is under forty
(40)years of age shall be retained in trust, subject to the directions set forth above in this Paragraph B
and, ftulbr=vi ded, that if none of my issue are then living, such trust property shall be distributed
subject to the directions hereinafter set forth in Paragraph C of this Article 3.
C: CONTINGENT BENEFFICTARY PRO—VISION. Whenever I direct that property be
distributed subject to the directions set forth in this Paragraph C, such property shall be paid over and
distributed to those persons who would have taken and in such shares as they would have taken, my
property if had died intestate a resident of the State of New Jersey,as of the date of such distribution.
D: ENERAEROVISIOYS.
(i) CONTINGENT GENERAL POWER OF A PPO�I, If any person
for whom a trust is held under Paragraph B of this Article 3 dies prior to the termination of his or her
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i� c � �,�r ed- - _uac sffe�rzz pursuant to Chapter 1
OI
the Internal Revenue Code of 1986; as amended(the "Code"), and would not qualify for an exclusion
from such tax, such property shall, upon the death of such person, be subject to a general power of
appointment (as defined in the Code) exercisable by such person in his or her Will by specific
reference to this power of appointment,but only to the extent that the grant of such general power of
appointment will cause all or part of such tax on generation-skipping transfers to be either eliminated
or deferred. Any portion of said property not validly appointed shall be distributed in accordance with
the directions set forth in Paragraph B of this Article 3.
00 QUALIFIED SUBCHAPTER S TRUST. Notwithstanding any provision
contained in this Article 3 to the contrary,if any trust established pursuant to this Article 3 consists of
one or more shares of capital stock in an S Corporation, as defined in Section 1361 of the Code,then
my Trustees shall divide such trust into two new separate trusts with one new separate trust consisting
of all of the shares of capital stock in each S Corporation formerly held in the old trust, and the other
new separate trust consisting of all other property formerly held in the old trust. Each new separate
trust shall be administered in accordance with the terms and conditions set forth in Paragraph B of this
Article 3;prmd ed, wev that my Trustees shall pay to,or apply for the benefit of,each person for
whom a new separate trust consisting of S Corporation stock is established pursuant to this
Subparagraph(ii),all of the net income from his or her new separate trust consisting of S Corporation
stock, in convenient installments, but not less frequently than quarter-annually. It is my desire and
expectation that each person for whom a new separate trust consisting of S Corporation stock is
established make a timely Qualified Subchapter S Election pursuant to Section 1361(d)(2)of the Code
with respect to each S Corporation the stock of which is held in such new separate trust pursuant to
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tea. s ;hypiL3 ti 7 ss� s ,..____ i finz-,... � st ,�.__ F `�?' �i'i �1 Ui
____ _„x in sFlclt a nta= eras rcac .'az arf ate s -holder of art 'S Corporation" under the
(iii) TER5MA- ION OF SMALL TRUSTS. If the market value of the assets
CarIsMucing any separate trust held under this Will is less than Twenty-Five Thousand Dollars
f'00). and if in the opinion of my Trustees, it is for any reason inadvisable or inconvenient to
continue to hold such assets in trust, the assets so held shall immediately be distributed to and among
be persons persons then receiving or entitled to have the benefit of the income therefrom in the same
proportions in which they are receiving or are entitled to have the benefit of such income.
(iv) RULE AG
ANST PERPETUITIES--SAVINGS CLAUSE. If any portion
of any trust created under this Will shall be governed by the law of any jurisdiction which recognizes
V. the Rule Against Perpetuities (whether imposed by statute or by common law), then such trust shall
not continue for more than twenty-one (21) years after the death of the last survivor of such issue of
mine as are in being on the date of my death, and if on the day prior to the expiration of such period,
any property is still held in trust under this Will,the property so held shall immediately be distributed
to and among the persons then receiving or entitled to have the benefit of the income therefrom in the
same proportions in which they are receiving or are entitled to have the benefit of such income.
(v) SPENDTHRIff CLAUSE, The interest of each beneficiary in the income or
principal of any trust under this Will shall be free from the control or interference of any creditor of a
beneficiary or any spouse of a married beneficiary and shall not be subject to attachment or susceptible
to anticipation or alienation. In addition, under no circumstances shall my Trustees exercise their
discretion to utilize the principal of any trust for the payment of any services that would otherwise be
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,ARTICLE 4
SURVIVORSM
For the purpose of construction of the previous Articles of this Will,any beneficiary under this
Will who fails to survive me by thirty(30) days shall be deemed to have predeceased me and not to
have survived me.
ARTICLE 5
PA-YMWM OF TAXES
1 direct that all estate and inheritance taxes (together with interest or penalties thereon, if any)
unposed with respect to all property taxable by reason of my death shall be paid out of my residuary
estate without apportionment or right of reimbursement, regardless of whether such property is
disposed of by this Will or otherwise, and regardless of whether such taxes are payable by my estate or
by any recipient of any such property.
ARTICLE 6
PAYMENTS TO MINORS OR DISABLED PERSONS
With respect to any property that is required or permitted to be distributed out of my estate or
out of any trust under this Will to any person who is then a minor or who is legally adjudicated as
being under a disability preventng such person from acting properly in his or her own behalf, my
fiduciaries may make such a distribution in any one or more of the following ways:
toL':t+..t lf�'i��-�� E.v 'c.._ ..._.-�_. _ �._-
(c) to the parent,, spouse or other individual hai-ing the care and custody of such person
who shall preserve or apply the property for the immediate or ultimate benefit of such person(or such
person's estate),but who shall not be obligated to qualify as a legal guardian or account to any probate
court for such property;
(d) to a custodian for such minor appointed under the Uniform Gifts (or Transfers) to
Minors Act of any state(including a custodian selected by my fiduciaries);or
(e) pursuant to contracts with persons supplying services to or for the benefit of such
person.
The receipt for or evidence of any such distribution shall be a complete discharge of my
fiduciaries to the extent of such distribution, and my fiduciaries shall have no duty to see to the actual
application of amounts so paid.
The term"minor" as used in this Article 6 shall mean and include any person under the age of
twenty-one (21) years, regardless of state law, and a minor's "minority" for all purposes herein shall
continue until he or she attains the age of twenty-one(21)years.
ARTICLE 7
FIDUCIARIES
f{
A: EXECUTORS_ I nominate my daughter, BARBARA B. WEKLW my daughter,
MARILYN J. BIRKENMEIER, and my son, STUART R. BIRKENMEIER, or the survivors or
survivor of them, to be Co-Executors of this Will. If for any reason BARBARA B. WEKLUK,
MARILYN J. BIRIKENMEIER, and STUART R. BIRKENMEIER, should each decline to serve
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(ii) of Paragaph D of this Articie 1,then the selection ofa successor corporate Executor shall be made
by my oldest living issue, or, if such issue is a minor or is legally incompetent, then by such issue's
Guardian.
B: TRUSTEES. I nominate my daughter, BARBARA B. WEKLW my daughter,
MARILYN J. BRUMNMEIER, and my son, STUART R. BIRKENMEIER, or the survivors or
survivor of them,to be Trustees of any trust established under this Will. If for any reason BARBARA.
B. WEKLW MARILYN J. BntKENMEiER,, and STUART R. BHU ENMEIER, should each
decline to serve or fail to qualify or cease to act as a Trustee, and if the further selection of a Trustee
will be necessary but no successor Trustee has been appointed pursuant to the provisions of
Subparagraph(ii)of Paragraph D of this Article 7, then the selection of a successor corporate Trustee
shall be made by my oldest living issue, or, if such issue is a minor or is legally incompetent, then by
such issue's Guardian.
C: WAIVER OF BOND. I direct that my Co-Executors and Trustees named or
appointed under this Article 7,including any successor Executors and Trustees,shall not be required to
give any bond and that if, notwithstanding this direction, any bond is required by any law or rule of
court,no sureties shall be required on such bond.
D: GENERAL PROVISIONS.
(i) Notwithstanding anything to the contrary contained herein, no person serving
as a Trustee of the trusts hereunder created shall, in his or her capacity as a Trustee,participate in any
decision relating to the discretionary(not based on ascertainable standards) distribution of principal or
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i�e :apt acing sole individual Executor ars.or Trustee for Nvhors there is no
named successor may, pursuant to a written instrument executed by him or her during his or her
lifetime (which he or she may alter from time to time), acknowledged in the same manner as is then
required to record deeds of real estate in the State of New Jersey, or by his or her Last Will and
Testament duly admitted to probate, designate one or more individuals and/or corporate institutions
(and may fix the order in which such individuals and/or corporate institutions shall serve) as. (a)
Co-Executor or Co-Executors and/or Trustee or Trustees, to serve with such individual sole Executor
and/or Trustee; and/or (b) successor Executor or Executors and/or successor Trustee or Trustees, to
succeed such individual sole Executor and/or Trustee in the event he or she shall cease to act as such
hereunder,for any reason whatsoever.
(iu) Any individual Executor or Trustee acting hereunder may,at any time and.from
time to time, by revocable power of attorney in writing filed with the corporate Executor or Trustee,
or, if no corporate Executor or Trustee is then serving, with all of the other Co-Executors or Trustees
then serving,authorize any one or more of the other Co-Executors or Trustees to perform on his or her
behalf as Executor or Trustee all acts (or any specific acts) in relation to the administration of my
estate or of any trust created hereunder, whether or not such act involves the exercise of discretion.
The revocation of any such power of attorney shall be in writing and delivered to the corporate
Executor or Trustee,or to all such other Co-Executors or Trustees, as the case may be.
(iv) Should a corporate fiduciary consolidate or merge with another corporation or
bank having a fiduciary character and possessing power to act as fiduciary, including a national bank
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{c) if at an, time any person is sen-ing as the sole Trustee of any- trust hereunder
created for such person's benefit, irrespective of the cause thereof, such person shall immediately
designate any individual or corporate institution to serve as co-Trustee with such person, it being my
intention that no person shall ever act as sole Trustee of a trust created hereunder for his or her benefit.
(vi) Notwithstanding anything herein to the contrary, it is my strong wish that my
fiduciaries seek and rely upon my friend, CARLTON R. ANNIS, for advice in making decisions
regarding the administration of my estate or any trust established hereunder.
E: RF IGNATION. An Executor or Trustee may resign without court approval at any
time by an instrument in writing indicating such fiduciary's intent in this regard and indicating the
effective date of the resignation. In the case of the resignation of an Executor, such resignation shall
be delivered to each person who is a beneficiary under this Will, or to the legal guardian of such
person, and to any co-fiduciary; provi"hommetr, that a successor Executor has been provided for
pursuant to this Article 7. In the case of the resignation of a Trustee, such resignation shall be
delivered to each person for whom property is then held in trust under this Will, or to the legal
guardian of such person,and to any co-fiduciary;pm3 ded.hommvz,that a successor Trustee has been
provided for pursuant to this Article 7.
F; ACCOUNMG. It is my desire that there be no public or judicial accounting of the
administration of my estate or of any testamentary trust created under this Will, but nothing herein
shall preclude my fiduciaries or any of my beneficiaries from seeking a judicial accounting of any such
administration. The written approval by all of the then living adult and competent beneficiaries of any
matter relating to or arising in the course of the administration of my estate or any testamentary trust
_ Z1 _
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G: CONNSTRUKI10 . Rt,'Lerences in this 'Will to "Co-Executors" shall be deemed to
include not only one or more of the original Co-Executors under this Will,as the case may be, but also
any other Co-Executor or successor .Executor or ancillary administrator or administrator with Will
annexed, or personal representative. References in this Will to "Trustees" shall be deemed to include
any one or more of the original Trustees, as the case may be, as well as any successor Trustee.
References in this Will to "fiduciaries"shall be deemed to include any of the persons referred to in this
Paragraph G. Whenever necessary in this Will and where the context permits, the masculine term
shall include the feminine or neuter,and the singular term shall include the plural,and vice versa
ARTICLE 8
FIDUC .RY PO—W- AS
In addition to and without limitation upon any powers granted under this Will or any powers
granted under N.J.S.A. 313:1423 or other applicable law, I give to each of my fiduciaries the powers
set forth in this Article 8, which may be exercised as my fiduciaries deem advisable, without court
permission or approval, provided that my fiduciaries exercise the care and judgment under the
circumstances then prevailing which persons of ordinary prudence and reasonable discretion would
exercise in the management of and dealing with the property and affairs of another:
A: To retain or invest in real or personal property or an undivided interest in property
(referred to in this Will as "property"), whether or not any investment made or retained is of a
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such ousiness or enterpnse,
Wit: tez _ss iiaih = for any claim, debt or demand, or for any depreciation or loss by reason of
the continued operation of such business or enterprise.
H: To exercise all privileges and rights incident to any corporate securities, including,
without limitation,the power to vote(in person or by proxy),to participate in or consent to any voting
trust, committee of security holders, merger, consolidation, sale or disposition of assets,
recapitalization, dissolution or other alteration of capital or corporate structure, whether or not these
adjustments involve payments by or to my fiduciaries.
I: To assign one or more shares of stock of any corporation which may at any time be
held by my fiduciaries hereunder to themselves, or to any of them, or to a nominee or nominees, for
the purposes of qualifying any such person to act as a director of the corporation,the stock of which is
so assigned.
J: To dissolve or to participate in the dissolution of any partnership in which I shall have
an interest at the time of my death,or in which my fiduciaries,in the administration of my estate or of
any trust created hereunder,shall hold an interest,or of which my fiduciaries shall become a member,
whether such dissolution be by agreement, operation of law, or by the judgment of any court; and to
enter into any agreements with respect thereto, upon such terms and conditions as my fiduciaries shall
deem proper.
K: To incorporate or to join with any other person, persons, nominee or nominees in the
incorporation of any and all corporations for such purposes, for such periods of time, and upon such
terms and conditions respecting the organization, operation and maintenance thereof(including, but
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e .d to pay for the stock of any such corporation with any or all of the assets of my estate or
-.za`- trust created hereunder, and to contribute to the capital of such corporation,or to lend to it,any
uT ail of the assets of my estate or of any trust created hereunder.
L: To join with any other person, persons, nominee or nominees in any partnership,
whether general or limited, any limited liability company, or in any joint venture or other business
association, for such purposes, for such period of time, and upon such terms and conditions, as my
fiduciaries shall deem advisable; and to Contribute to the capital of any such partnership, limited
liability company,joint venture or other business association,or to lend to it,any or all of the assets of
my estate or of any trust created hereunder.
M: My fiduciaries shall have the following powers with respect to any stock which i may
own at the time of my death,which powers shall be in addition to all the other powers herein conferred
upon my fiduciaries or conferred upon my fiduciaries by law with respect to such stock.
(1) To retain any such stock even though such stock may form a substantially
disproportionate part, or all, of my estate or of any trust created hereunder,
without risk of surcharge to my fiduciaries for so doing, as long as they act in
good faith;
(2) To purchase any additional such stock for my estate or for any trust created
hereunder from any sources at such price or prices and at such times as my
fiduciaries shall determine to be fair and reasonable;and
(3) To sell any such stock from my estate or from any trust created hereunder to
any person,firm,mist or other entity at such price or prices and at such times as
my fiduciaries shall determine to be fair and reasonable.
N: To borrow money from any person or entity(including any person or entity serving as
one of my fiduciaries or from any entity in which one of my fiduciaries or a beneficiary under this Will
has an interest) upon terms and for periods my fiduciaries deem advisable for any purpose connected
with the administration, preservation,protection or improvement of property held by my fiduciaries,
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" s. FAhauy such borrowing, to pledge or mortgage assets held by my fiduciaries on
�:z s c—u&k fi&u i aaies may determine.
4: To ay, compromise, adjust, settle, sue on or defend, or abandon claims (including,
h<,r
qua±' limitation. claims for income, estate or inheritance taxes
I nco theld by or asserted against m
X•anes, in such manner as my fiduciaries may determine; and to exercise any rights of election or
cozrym rights which may from time to time be available with respect to the provisions of the Code or of
any. ,other tax law,including,without limitation,the following elections:
(1) The selection of the date for the valuation of property in my gross estate.
(2) The election whether to claim administration and certain other expenses as
deductions on the estate tax return or on income tax returns,or,in part on each.
(3) The election to join in the executing and filing of a joint income tax return or an
amended return for any period prior to my death; and in connection with such
return, to make such decisions as may be deemed appropriate in respect of(a)
how the burden or the liability for such tax shall be apportioned; and (b) how
the benefit of any return,credit or payment shall be apportioned.
(4) The election for gift tax purposes to split gifts pursuant to Section 2513 of the
Code.
(5) The election to disclaim all or part of any property that otherwise would pass to
me under a testamentary or nontestamentary instrument or document.
(6) The election to allocate or refrain from allocating any portion of my exemption
under Section 2631(x) of the Code, to any property of which I am the
transferor,including any property transferred by me during my life as to which
I did not make an allocation prior to my death. The decision of my fiduciaries
in allocating such exemption shall be binding and conclusive upon all persons
having an interest in my estate, and no adjustment among beneficiaries shall be
made by reason of any such allocation. I specifically exonerate my fiduciaries
from all liability or accountability to any beneficiary with respect to the
exercise in good faith of the discretionary powers herein.
(7) To take advantage of Sections 303 and/or 6166 of the Code, and any other
provisions therein which provide relief for the estates of owners of stock in
closely-held corporations and to post any bond or other security and pay any
interest required by Section 6166 at the expense of my residuary estate and to
elect under Section 6324A of the Code to create a special lien for the deferred
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.,
estate tax (including tax attributable to property not passing under this Will)
and to subject property belonging to my estate to such liem
right of election may be exercised even though it may increase the tax liability of my
r:may increase or decrease the extent of any beneficial interest in my estate,if it shall appear to
;kuciaries that such action is in the best interests of my estate or will result in a benefit to any
w efiCI
az y or beneficiaries(including any fiduciary under this Will)greater than any loss to my estate
; ch may be caused by such election. I direct that no adjustment be made between income and
cipal or between any other beneficial interests under this Will, even though they may be
substantially affected.
P: To employ (and compensate out of principal or income or both, as determined by my
fiduciaries) professional advisors and assistants, including, without limitation, accountants, agents,
appraisers, attorneys, brokers, custodians and investment advisors, and to do so without personal
liability for any neglect, omission,misconduct or default of such persons,provided they were selected
and retained with reasonable care; to pay the costs of and maintain ancillary or similar proceedings in
other jurisdictions; and to pay a fiduciary under this Will reasonable commissions on account, subject
to allowance or disallowance on settlement of the fiduciary's account and subject to other provisions of
this Will.
Q: To determine the manner of ascertainment of income and principal, and the allocation
between income and principal of all receipts and disbursements.
R: To make distributions in cash or kind, or partly in cash or partly in kind, in divided or
undivided interests, to determine the value of property for distribution purposes, and to allocate any
property towards the satisfaction of any payment, distribution or division in such manner as my
fiduciaries may determine,whether or not distributive shares may as a result be composed differently.
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the administration
4 .c are:si :: ;I;, ;= and or to postpone the distribution of
income earned during the period of administr-ation of my esuate for such period of time as my
fiduciaries shall deem proper.
T: To make any loans on commercially reasonable terms, except that loans to any person
having an interest in the income or principal of the property held by one of my fiduciaries may, in such
fiduciary's discretion, be made on whatever terms such fiduciary deems advisable; and to permit any
such person to use or occupy any real or personal property on' such terms as my Trustees deem
advisable, whether rent-free or in consideration of the payment of insurance, maintenance, taxes,
ordinary repairs or otherwise.
U: To enter into transactions with other fiduciaries, upon such terms as my fiduciaries
deem advisable,including,without limitation,fiduciaries of estates and trusts in which any beneficiary
under this Will has an interest, subject to the limitations on such transactions contained in other
provisions of this Will.
V: To hold trusts under this instrument apart from one another or as a common fund or
joint investment,dividing the income proportionately among them and assigning undivided interests to
the several shares; and to combine or merge, for all purposes, all or part of the property held by my
Trustees in a separate trust maintained under this instrument with property held by them as fiduciaries
acting under this or another instrument upon substantially similar terms for the primary benefit of the
same persons, except that property qualifying for a marital or charitable deduction for federal tax
purposes may not be so combined.
W: To alter or amend the terms of any trust under this Will which consists of one or more
shares of capital stock in an S Corporation, as defined in Section 1361 of the Code, with the written
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- approval of the person then receiving or otherwise entitled to receive income from such trust, so that
the trust will operate or otherwise qualify as a "Qualified Subchapter S Trust" within the meaning of
Section 1361(d)(3)of the Code.
X: To establish a separate trust for any property with respect to which a
generation-skipping transfer tax exemption(as provided in Section 2631(a) of the Code) is allocated if
after such allocation the inclusion ratio with respect to such property for generation-skipping transfer
tax purposes would be zero, to be administered in accordance with the provisions applicable to the
trust to which such property would otherwise be allocated but for this Paragraph X,with such separate
trust having an inclusion ratio of zero.
Y: To make,execute and deliver any deeds, leases,contracts,mortgages,releases or other
instruments necessary or proper for the accomplishment of any of the foregoing powers, and to do all
other acts that, in the discretion of my fiduciaries, may be necessary or advisable for the proper and
advantageous management,investment and distribution of property held by such fiduciaries.
Z: Without in any way limiting the generality of any of the foregoing powers, to sell any
interest in any business which I may own at the time of my death or which may come into their hands
as part of any trust created hereunder, at such time or times, for such amount or amounts, for cash or
on credit,or partly for cash and partly on credit,upon such terms and conditions and for such period of
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r+
I,ELEANOR Z.BERK. the testatrix,sign my naive to this instrument this
day of � ., z- . P, z7-d duly sworn,do hereby declare to the undersigned authority
that I sign and execute went as any Will and that i sign it willingly (or willingly direct
another to sign. for me). ! I execute it as my free and voluntary act for the purposes therein
expressed, and that l am eighteen years of age or older, of sound mind, and under no constraint or
undue influence.
-(-..C�e:.-e a.�a' �-L'`�:�i�"ff Gey c�1 I—.E_.,�.c:,.t —•
ELEANOR V,.BMUENTNMIER
We, V r— � ` and _Qi zel f/, =kvb , the witnesses, sign our
names to this instrumentbeing duly sworn, do hereby declare to the undersigned authority that
the testatrix signs and executes this instrument as her Will and that she signs it willingly(or willingly
directs another to sign for her),and that each of us, in the presence and hearing of the testatrix,hereby
signs this Will as witness to the testatrix's signing, and to the best of our knowledge the testatrix is
eighteen years of age or older,of sound mind,and under no constraint or undue influence.
Witness
AA,'Itl &A,214
witness
Subscribed, sworn to and acknowledged before me by ELEANOR Z. BIRKENMEIEII, the
testatrix, and subscribed and sworn to before me by Q t- fj -fillt-uab and
,the witnesses,this o2{Say of -Q 1999.
Notary Public of New Jersey
CAROt.E M. McCORMM
4 NOTARY PUBLIC OF NEW JERSEY
Arty Commission Expires Aug.&2001
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