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HomeMy WebLinkAbout09-02-15 , ` , � IN RE: : IN THE COURT OF COMMON PLEAS OF ESTATE OF JOSEPH A. TURRI, : CUMBERLAND COUNTY, PENNSYLVANIA Deceased : ORPHANS' COURT DIVISION : No. � � `�L�9� .� � � � o � � � ���� :� :�� �.��, �-� C'7 � t"�-� Ci� <:"�::) 'r� u1` C� '� � ) '::J RECEIPT, RELEASE AND REFUNDING AGREEMEN�'� �-- { �:� � � ;�v� --c� =.:� � , The undersigned, BARBARA L. SOWERS, does hereby acknowledg�recei�}�,=; �._ N t;; C� from BARBARA L. SOWERS, Executrix of the above-captioned Estate, of all tangible persona�' property, on account of full satisfaction of thz bequest contained in ITEM 1 of the Last Will and Testament of Joseph A. Turri dated December 21, 2012 and Codicil dated November 4, 2014, described more fully in Exhibit "A" attached. IN CONSIDERATION of said distribution, the undersigned does hereby release, remise, quit claim and forever discharge the Executrix, her agents, heirs, personal representatives, successors and assigns, of and from all actions, suits, payments, accounts, reckonings, claims and demands whatsoever for or by reason of the bequest under ITEM 1 of the Will. AND, to the extent of the value of said distribution, the undersigned does hereby agree to indemnify and save the Executrix harmless from and against any and all losses, damages, costs, verdicts, judgments, awards and/or expenses which the Executrix may suffer, incur, be put to, pay or lay out by reasan of having made distribution of the such articles to the undersigned, and 991634 1 ,� ��V . s the undersigned agrees to return said articles to the Executrix upon receipt of such a request from the Executrix, if the Executrix determines that the undersigned is not legally entitled to such distribution. It is the intention of the undersigned to be legally bound by this instrument. IN WITNESS WHEREOF, the undersigned has caused this instrument to be executed on the ls day of �c�/�,! , 2015. WITNESS: . . � � �" = _, Barbara L. Sowers � � COMMONWEALTH OF PENNSYLVANIA : : SS: COUNTY OF � � : On this, the1�day of �-i , 2015, before me, a Notary Public, in and for the Commonwealth of Pennsylvania, the undersigned ofticer, personally appeared BARBARA L. SOWERS, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within Agreement and acl:nowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. � _.__ (SEAL) o ry Publ' � My Commission Expires: ��' _�/f � (SEAL) COMMONWEAITH OF PENNSYLVANIA Notarial Seal Lecretia Haring, Notary Public Derry Twp., Dauphin County My Commission Expires)urte 3, 2017 11F?fBER,PENMSYIVANIA ASSOQATION OF NOTARIES . � EXHIBIT "A" Items 10 and 12 on the attached were owned by Barbara L. Sowers and are not part of the Estate. Item 51 on the attached was owned by Mark Turri and is not part of the Estate. . � ESTATE APPRAISAL REPORT PERSONAL PROPERT�r' Personal Property of the Estate of Joseph A. Turri, deceased Per•sonalty Currently Located: 201 Runson Rd. Camp Hill, PA 17011 Clients: Barbara Sowers, Executrix (201 Runson Rd. Camp Hill, PA 170ll) Stanley A. Smith, Esq. (Rhoads & Sinon LLP, One South Market Sq., P.O. BoY 1146 Harrisburg, PA 17108) Intended Users: Barbara Sowers, Executrix Stanley A. Smith, Esq. The Family & Beneficiaries of the Joseph A. Turri Estate Any Other Person(s) Authorized by the Clients Effective Date of Appraisczl: d.o.d. May 14, 2015 Date of Repoj�t: June 3 0, 2015 By: �I171S A�J�YG�1 SG�� �� SeY'U1CeS z¢S N.Hnnoz�er St. k P.O.Bax'2¢ Carlis�e�P�1 r7oz� (717)2=13-3�71 infoCibisapprafsals.com I � ic�r��:ibis.tpprais.i/s.corn L � fbis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30,2015 Effective Date: Date of Death: May 14,2015 pa�� � 0�'?7 TABLE OF CONTENTS Table of Contents 2 Cover pocument 3 Appraisal Scope of ti�ork 3 Approach to Valzre & Marketplace 3 Approaches to value Not Used � Limiting Conditions � Report Notations and Observances j Appraisal Summary 6 Personal Property Listing � Location: Living Room � Location: Living Room/Dining Room 10 Location: Office 12 Location: Halltivay 12 Location: Master Bedroom 12 Location: Back Bedroom/Basement 13 Location: Basement 13 Appraisal Summary (Copy) 1 g Glossary 19 Appraisal Certification 21 References 22 Privacy Notice 24 Pension Protection Act of 2006 Statement 24 Statement of Qualifications ZS Digital Copy of Appraisal & Photographs 27 [bis Appraisal Services: Turri Estate Personalty Appraisal Reported on June.i0,2015 Effective Date: Date of Death: Ntay 14,2015 Pa�e 2 of 27 . � COVER DOCUMENT A�praisal Scope of Work I hereby present this estate appraisal report of the personal property of Joseph A. Turri, deceased, 201 Runson Rd. Camp Hill, PA 17011. Joseph A. Turri, deceased, is understood to be the owner of the appraised personal property. The objective of this completed qualified personal property 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: May 14, 2015. This appraisal was reported and produced on June 30, 2015. The clients in this appraisal report are Barbara Sowers, Executrix (201 Runson Rd. Camp Hill, PA 17011) and Stanley A. Smith, Esq. (Rhoads & Sinon LLP, One South Market Sq., P.O. Box 1146 Harrisburg, PA 17108). The intended users of this appraisal report are Barbara Sowers, Executrix, Stanley A. Smith, Esq.;the family and beneficiaries of the Joseph A. Turri Estate, and any other person(s) authorized by the clients. I have personally and physically inspected, recorded, and analyzed the listed personal property on June 12, 2015. The onsite examination and recordation took place at 201 Runson Rd. Camp Hill, PA 17011 and in the presence of Barbara Sowers and her daughter. The personalty was found to be in fair-to-good condition. Items that were broken, damaged, or in fair condition are noted in the descriptions of those items. The estate personal property appraised in this report consists of late nineteenth to late twentieth century American, Foreign, Japanese artwork, books, decorative items, firearms, furniture, household items, and various tools. This report is organized room-by-room for ease of navigation and location of the estate personal property within the residence. A�proach 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 �vhich 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 effeet 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. lbis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30,201� Effective Date: Date of Death: N1ay 14,2015 Pa�e 3 of?7 � 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 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 §20.2031-1.: . "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. Ibis Appraisal Services: Turri Estate Personalry Appraisal Reported on June 30,201� Effective Date: Date of Death: May 14,2015 Pa;e 4 of 27 ' 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, attacl�ments, 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. .� �b' PPraisa� � ervi s, LLC `/ � 1 Vl 1 Alyss a L. .L n , I SA-AM � t N I�E R N AT I O N A L Dir tor& CEO � SOCIET�'�/APPR.<\ISEP.S ISA Accredi d Member .�lcerccli�ed i�(cmhcr Ibis Appraisal Setvices: Turri Estate Personalty Appraisal Reported on June 30,2015 Effective Datz: Date of Death: N1ay l4,2015 Pa��e� of 27 , APPRAISAL SUMMARY It is in my opinion, that as of the d.o.d. May 14, 2015 and reported on June 30, 2015 the Fair Market Value of the Estate Personal Property of Joseph A. Turri, deceased, 201 Runson Rd. Camp Hill, PA 17011: (Four Thousand Four Hundred T�venty-Six Dollars and Zero Cents) ($4,426.00) b �6�5 PPraisa� rvices, L� � r Alyssa L.W. on ,I A-AM irec o CEO ISA Accredited ember � I SA � INTLIZNAT[ONAL SOC(ET�Yr/APP12.-�ISEI:S Accredited �(ctnber The report must be read in its entirety. The Appraisal Summary ONLY is not the ap�raisal report Ibis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30, 201� Effzctive Date: Date of Death: May 14,2015 Pa�e 6 of 27 , ' PERSONAL PROPERTY LISTING Location: Living Room 1 Ukivo-e. Framed and matted Japanese woodblock print $45.00 with poem. Artist: Kaoru Kawano (1916-1965). �� �;;. Location: Living Room. - � � ��s�5� ;�-§� Corresponc�ing Digital Photograph File: img 53�5 jpg , r;1 �st'� � , 3= �; ��i� ����`� s - �ss�r �F: _ ,4: 2 ,_� Uk�e. Framed and matted Japanese woodblock print of $40.00 " �� snowy landscape. Artist: Illegible. � � �����'� "� Location: Living Room. � Y � Corresponding Digital Photograph File: img 5356 jpg z.� �' `�` j 3 � Ukivo-e. Framed and matted Japanese woodblock print. $65.00 Title: Figure with Eyes Closed. Artist: Kaoru Kawano _= �-_ (1916-1965). ����� Location: Living Room. a.� � ��; Corresponding Digital Photograph File: img 53�7 jpg _ ,� f __.= 4 Print. Framed and matted black ink Siam/Thailand dancer $5.00 �.� , print. �, ���� .. ��� �; � . Location: Living Room. ��x '� : Corresponding Digital Photograph File: img_53.i8 jpg , � � <:� � - ����� � t x�� � �� [bis Appraisal Services:Turri Estate Personalty Appraisal Reported on June 30,201� Effective Date: Date of Death: May 14,2015 F'a�e 7 of 27 � 5 Scroll. Japanese woodblock landscape print scroll. Artist: $25.00 Unknown. Location: Living Room. Corresponding Digital Photograph File: img �359 jpg .� 6 ' : - ; Desk& Chair. Converted hardwood piano made into a $125.00 , desk. Almost all of these types of pianos were converted _ into desks in the early twentieth century. Location: Living Room. ;' Corresponding Digital Photograph File: img 5360 jpg 7 � �1��'�,� � Colored Etchinas. Selection of five (5) hand-colored $35.00 � '� n -� European city etchings. fi � _' � Location: Living Room. ��-�� ` � ' Corresponding Digital Photograph Files: img 5361 & � � r _�a�_. ,.�,_ img 5362 jpg 8 ��;s-�= ; Lamp. Modern brass and ceramic table lamp. $8.00 �� �� Location: Living Room. � "� Corresponding Digital Photograph File: img 5363(2)jpg � ���'# � ' Y�� gi� .�` � M � � l � � � �'���r � �,�, - ; � �� ��c�,y� 4 �� ; � �' ���r` � ����� 9 � �:�,�`R - End Table. T�ventieth century miYed exotic �vood end $10.00 - table with one (1) drawer. ' Location: Living Room. � : Corres ondin Di ital P hoto r a h File: im .5363. ' P g � g P g__ JPg [bis Appraisal Services: Tuni Estate Personalty Appraisal Reported on 1m�e 30,2015 Effective Date: Date of Death: Ivtay 14,201� Pa�e 3 of 27 , � 10 �'��;�a, Stahie. Twentieth century carved wood heron statue. $75.00 �� � � r 3 =�` Location: Living Room. �� s� � :. �` Corresponding Digital Photograph File: img 5364(2)jpg � ��, - 11 8 Sofa. Twentieth ceniury white plush sofa. $15.00 .._�y , Location: Living Room. '� Corresponding Digital Photograph File: img_�364(3)jpg `�,f�" - � � _:�`�:� �, � �.�: 12 F �.�� � Ewer. Early-to-mid twentieth century Asian brass ewer. $4.00 �_� :�. ,;�� � " 4 � - Location: Living Room. a. Corresponding Digital Photograph File: img 5365(2)jpg 13 Servin�Wares. Early-to-mid twentieth century silver- $4.00 plated serving wares. Location: Living Room. Corresponding Digital Photograph File: img_536�(3)jpg 14 :�' i Coffee Table. Twentieth century exotic�voods and stone- $15.00 topped coffee table. ° � � ` ������� � � Location: Living Room. Corresponding Digital Photogrc�ph File: irng �36�jpg lbis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30,2015 Effective Date: Date of Death: May 14,201� Page 9 of 27 ' I S Scroll. Japanese woodblock landscape print scroll. Artist: $25.00 Unknown. Location: Living Room. ��_s, Corf•esponding Digital Photograph File: img 5366(2)jpg ,�; �r >;- � �, - _:Y 'f� - ,� ,�t��* . �<*+s^�ra"4 Location: Living Room/Dining Room 16 Scroll. Japanese woodblock iris print scroll. Artist: $20.00 Unknown. Location: Living Room/Dining Room. Corresponding Digital Photograph File: img 5366(3)jpg . 17 ��'= Etchin�s. Set of four(4) early twentieth century framed $32.00 European etchings. = Location: Living Room/Dining Room. Corresponding Digital Photograph Files: img_5367& img 5369 jpg g 18 � ��4i� Candelabra. Mid-twentieth century wall-mounted wood $5.00 ��.;: candelabra with five (5) arms. G Location: Living RoomlDining Room. Corresponding Digital Photograph File: img_5368 jpg � � ��,���_- 3 Sn�� 1 � � � 1 � '.; :_?<,.,:�.�, :ti 19 `"_"�"� ,,��-x- Cabinets. T�vo (2) mid-riventieth cenriiry matching charry $60.00 cabinets with t���o (2) blind doors. Location: Living Room/Dining Room. � �_ ., Corresponding Digital Photograph Files: img_5370 & img 5371.jpg Ibis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30, 201� Effective Date: Date of Death: May 14,20(� Page (0 of?7 , 20 Fi urines. Two (2) modern resin-cast faux ivory figurines. $4.00 �r. � �. � Location: Living Room/Dining Room. � C`orresponding Digital Photograph File: img �372 jpg �, � � 7�. � _� � ' � 5� �:� �: �t�,�`� '� � �.: �' i.,,,;'. � S_ 21 D -ry Sink. Late nineteenth, early twentieth century mixed $95.00 �'` " woods(pine and oak) repaired dry-sink with one (1) ii 'il I drawer and two (2) blind doars. Dry-sink has been � repaired in several places and with different woods. � Location: Living Room/Dining Room. Corresponc�ing Digital Photogrcrph File: img 5374 jpg 22 � �f� Vase. T�ventieth century Japanese Jukan Satsuma $35.00 -w' thousand flower vase. �-..,,:� Location: Living Room/Dining Room. �4 Corresponding Digital Photograph Files: img 5375 & `'~�� im 5376. t� g .IPg � y� :� � _ .:, .t- ,�� 23 �` Paintin�. Unframed, wall-mounted abstract nude female $55.00 dancer in the moonlight. Man playing violin. Artist: Illegible. Location: Living Room/Dining Room. Corresponding Digital Photograph Files: img_5378 & img 5379 jpg 24 � ���- -- Paintina. Framed twentieth century Et�ropean oil painting $40.00 _ ' of thatched-roof dwellings and country lane. Artist: �,: ,,, Illegible. � � �= s «� i" ��� Location: Living Room/Dining Room. ��`�; Corresponcling Digital Photograph File: img_�380 jpg Ibis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30,201� Effective Date: Date of Death: Ntay 14,201� Page 1 I of 27 , � 25 ; Paintin�. Unframed, wall-mounted still-life oil painting. $55.00 Artist: Decalage. Dated: 1963. Location: Living Room/Dining Room. Corresponding Digital Photograph Files: img �382 & img 5383jpg � � Location: Office 26 Books. Selection of early-to-late twentieth century $150.00 �:; hardback and softback books. ��� .:,; � ` Location: Office. �� � Corresponding Digital Photograph File: img 538=�jpg �� � �� � 27 �., ��'� ` Trunk. Late nineteenth, early twentieth century strap, $75.00 a `" � steamer trunk. Location: Office. Corresponding Digital Photograph File: img 5388 jpg ��� '� ��-_ Location: Hallway 28 � � . "',���� � � Map. Framed reproduction map. Title: 1851 Carte $40.00 � ..� °� � ,� Generale de L'Amerique Septentrionale et des Iles qui en �} ��, � �� � `: Dependent. Cartographer: Brue. �` ��� -. }� Location: Hallway. �� � , , `� �;. ` � Corresponding Digital Photograph Files: img 5389 & img 5390 jpg Location: Master Bedroom 29 K �: �- ;� � : Lamps. Two (2)modern matching Stiffel-type brass table $30.00 ���. � ����g� �4�'" lamps. y ��5�.�� ��, � �� ,����� . Location: Master Bedroom. � ��������`� Corresponding Digital Photograph Files: img 5391(2) & {.7^r �� �7t-'�r - a' ' img_�392(2)JPg ��`�` �`�` � � �,. �� �A Ibis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30,201� Effective Date: Date of Death: May (a,?01� Pa�e l2 of?7 � 30 � - End Tables. Two (2) matching hardwood mid-twentieth $14.00 century end tables. Location: Master Bedroom. Corresponding Digital Photograph Files: img 5391(3) & img 5392(3)jpg 31 � Desk. Early-to-mid green-painted drop-off desk with one $35.00 (1) drawer. - Location: Master Bedroom. � Corresponding Digital Photograph File: img 5393 jpg i Location: Back Bedroom/Basement 32 '�.,,� �` Bedroom Suite. Mid-twentieth century oak bedroom suite $105.00 ��.,. � ��`"`� with one (1) chest and two (2) matching end tables. One � �.: ��� l �� (1) of the end tables is in the basement. �''�` `� Location: Back BedroomBasement. a`;,' �� Corresponding Digital Photograph Files: img 539�, img 5395, & img 5403 jpg Location: Basement 33 Ci�ar Molds. Set of four(4) late nineteenth, early $40.00 twentieth century cigar molds. Location: Basement. ` ; Corresponding Digital Photograph Files.• img 5396(2) & � ` :• . ,_ _: r _�� img 5397�2�JPg 34 `"�` Lantern. Early twentieth cenhiry green railroad lantern. $30.00 k- Location: Basement. �� Corres onclin Di ital Photo ra h File: im _5396 3 . ' �� P g g S P g (�J�g � 1 �l� � � � � �� �>_� ��� �5:, � � , .� � lbis Appraisal Services:Turri Estate Personalry Appraisal Reported on June 30,2015 EFfective Date: Date of Death: hlay 14, 201� Pa�e I� of27 , � 35 S urs. Early twentieth century horse-riding boot spurs. $40.00 Location: Basement. Corresponding Digital Photograph File: img 5397(3)jpg Y,� f � � ��� h� l� 36 Lamp. Mid-twentieth century geometrical ceramic table $10.00 lamp. Location: Basement. � -�<_ Corresponding Digital Photograph File: img_5398 jpg � , ;� ��Rx # :.} I � 4 �k;� 'Y n�$'::� ��n k" e� #{-''t- ., . l�.-{ �: ��" .a i q' �T� 2 f i"+ t�rs�_}{�t� G��}S ��� .��i��-"x'^E��. �.YY+{��'9y �~. ���� � 37 Pool Table & Cues. Twentieth century Windsor by $500.00 ����'� Brunswick pool table with selection of generic pool cues. � - ��= Location: Basement. '`� � 3� ' Corres ondin Di atal Photo a h Files: im 5399- �_< . ; 1� g S�� Sr' P g .� img 5=�01 JFg ,��. 38 " '' Trunk. Late nineteenth, early twentieth century strap, $75.00 steamer trunk. � Location: Basement. � z�� Corresponding Digital Photograph File: img 5402.jpg ��.x. - ��`: 39 Blanket Chest. Late nineteenth century Pennsylvania pine $17�.00 blanket ches�. Location: Basement. Corresponding Digital Photograph Files: inzg 5=�0� & img_�406j�g [bis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30,2015 Effective Date: Date of Death: May 14,20t5 Page 1�1 of27 40 a � `� Tools. Selection of modern hand tools including saws, $400.00 hainmers, wrenches, vices, and screwdrivers. �� �����`� ,� Location: Basement. Corresponding Digital Photograph Files: img_5=�08, img 5409(2), im 5410-img 5=�12, & img 5=121 j 41 �� �� '�� Nails. Selection of modern nuts, bolts, screws, and nails. $65.00 y� :� � Location: Basement. —� Corresponding Digital Photogrccph Files: img 5=�18 & �.", : ' �"'" • ' - img 5=�19.jpg 42 Tool Carrier. Early riventieth century open tool carrier. $15.00 '� Location: Basement. �i Correspon�ling Digital Photograph File: img 5={09(3)jpg �� _ _ � �; � a � 43 Chainsaw. Modern Craftsman 18"/40cc, sim-pul $35.00 -��:� chainsaw. � - i Location: Basement. t.� � a _ ,� -- , Corresponcling Digital Photog�aph Files: img 5=�1=� & img 541 S jpg 44 �u" -�:�� Tool Chest. Mid-twentieth century black metal Craftsman $40.00 � floor tool chest. Location: Basement. ��' � Corresponding Digital Photograph File: img 5=116 jpg �": F.� 45 Tool Box. Mid-twentieth centt�ry silver and red Craftsman $35.00 tool box. ,. Location: Basement. Corresponding Digital Photograph File: img_�417 jpg � ���� �z Ibis Appraisa) Services:Turri Estate Personalty Appraisal Reported on June 30,2015 Eftective Date: Date af Death: htay 14,2015 Pa�e l ti of 27 ' 46 "'� Tool Chests. Two (2) stacking modern red metal $80.00 � Craftsman floor tool chests. ' ����r:� �:-� Location: Basement. Corresponding Digital Photograph File: img_5=�20.jpg ��� .':i z1 47 £� � Ammunition. Selection of modern riventieth century $225.00 y�� " `. firearm ammunition and reloading equipment - Location: Basement. "' �;;; � ' �. Correspon�ling Digital Photograph Files: img .5=�22- �.��' img_�=�24JPg ,..-- , `���f' A .�`t�f�z� ��r �.— 48 � Clock. Twentieth century Japanese School wall-mounted $40.00 ;,� regulator clock. Maker: Meiji Clock Company. � � °� Location: Basement. � ���°`. � Corresponding Digital Photograph Files: img 5=�25 & � �` img �426..1Pg ;; , ,, .a � ,� =� 49 �`:��, Firearm. Harrington & Richardson Topper Jr. Mode1490. $90.00 .�{ ;.. 20ga, 2 3/"mod. - � � -�� Location: Basement. Corresponding Digital Photogrcrph Files: img 5=�27- img 5=�29 j g 50 �'� :'� Firearm & Scope. Sears & Roebuck Model 43, 22 caliber, $120.00 �� �"`� SL& LR. Serial Number: 103-2850. Bushnell 4X Custom .22 scope. Location: Basement. Co�responding Digital Photograph Files: irng �=�30- img 5=�32, & img ��33 jp Ibis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30,201� Effective Date: Date of Death: Niay 14,201� Pa�e 16 of 27 ._x � 51 ` > ==�r Firearm & Scope. Savage Arms Springfield Model $250.00 �, ' � �� 840/860. Cal 222 Rem. Serial Number: 227618. Tasco �`���'� �- 3X-9X40 opti-centered, nitrogen-filled scope. Location: Basement. Corresponc�ing Digital Photograph Files: img 543={- img �=�40 j 52 �� Firearm& Scope. Ceskoslovenska Zbrojovka, A.S., Brno. $475.00 �" Vz: 24. Serial Number: 45371. Weaver scope. ..�. �-�-�:. Location: Basement. Cot•responding Digital Photograph Files: img �4=�1- im 5=�45 jpg 53 ��-�- Firearm. Sears & Roebuck, JC Higgins, Model 60, 12 $295.00 . �v..a. gauge. Location: Basement. Corresponding Digital Photograph Files: img_5446, img 5�=�8, img 5=��1, & img 5=��2 jpg 54 ���� '; Fishing Rods. Selection of modern fresh water fishing $45.00 '��� � rods. �----=_ �, - Location: Basement. � � Corresponding Digital Photograph File: img �4�3 jpg Total $4,426.00 Ibis Appraisal Services: Turri Estate Personalty Appraisal Reportzd on June 30,2015 Effective Date: Date of Death: May 14,201� Pa�e 17 of?7 . � APPRAISAL SUl��IlVIARY It is in my opinion, that as of the d.o.d. May 14, 2015 and reported on June 30, 2015 the Fair Market Value of the Estate Personal Properiy of Joseph A. Turri, deceased, 201 Runson Rd. Camp Hill, PA 17011: (Four Thousand Four Hundred Twenty-Six Dollars and Zero Cents) ($4,426.00) a `' �b s PPrai�a� erviCf 5, LLC [ " Alyssa L. . , ISA-AM Dir tor& CEO ISA Accredi ed Member � 1 �� � lu1 CRVATIONAL � SOCI�TY�/t1PPIt�ISERS Accrcditcd \lernber The report must be read in its entiretv. The Appraisal Summarv ONLY is not the a�praisal report. Ibis Appraisal Services: Turri Estate Personalry Appraisal Reported on June 30,201� Effective Date: Date of Death: May 14,2015 Page l8 of 27 . � 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 Assum�tion. 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 far 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]. Limitin� 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 far 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]. Readil�pparent Identitv. 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 ne�v item of like kind, quality, and utility [ISA Core Course Manual]. Ibis Appraisal Services:Turri Estate Personalty Appraisal Reported on June 30,201� Effective Date: Date of Death: May 14,2015 Pa�e 19 of 27 , Replacement Cost �iJSED�. The cost necessary to replace an item of personal property �vith 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 rnaterials 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. Ibis Appraisal Services:Tuni Estate Personalty Appraisal Reported on June 30,2015 Effective Date: Date of Death: May l�,201 S Rage 20 of?7 , 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 201� Uniform Standards of Professional Appt-aisal 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. � �6is /-�PPraisa� Servi es, LLC � - � I SA Alyssa L. . ey, ISA-AM � j N T E R N A1�I O N A L Di ector& CEO '% SOCI ETl'r/�1PI'I�1ISERS ISA Accredited Member Accrrclitecl �lember June 30,2015 [bis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30, 201� Effective Date: Date of Death: May 14,2015 Pa�e ?i of�7 � � APPRAISAL REFERENCES American Society of Appraisers. http://www.appraisers.org/ Annex Galleries. https://w��v.annexgalleries.com Antiques. http:Uwtivw.antiques.com Armslist. http://wwtiv.armslist.com Bid Square. http://���vw.bidsquare.com/ Cordier Antiques & Auctions. 1500 Paxton St. Harrisburg, PA 17104. http://�v�vw.cordierantiques.com Doyle New York. 175 East 87th St. New York,NY 10128. http://www.doylenewyork.com/ Ebav. http://wti��.ebay.com Foundation for Appraisal Education. http://www.foundationforappraisaleducation.org/ Gun Broker. http://w�vw.gunbroker.com Guns America. http://www.gunsamerica.com LR.S. Publication 561: Determinin�the Value of Donated Property. http://w��tiv.irs.gov/pub/irs- pdf/p561.pdf Internal Revenue Regulation. Section 1.170A-1(c)(2). International Society of Appraisers. https://www.isa-appraisers.arg/ Invaluable. http://www.invaluable.com/ Live Auctioneers. http://�vww.liveauctioneers.com Morphy Auctions. 2000 North Reading Rd. Denver, PA 17517. http://ww�v.morphyauctions.com/ Ohmi Gallerv. http://��v.ohmigallery.com/ Pook & Pook. 463 East Lancaster Ave. Downingtow�n, PA 1933�. http://���vw.pookandpook.com/ lbis Appraisal Services:Turri Estate Personalty Appraisal Reported on June 30,201� Gffective Date: Date of Death: May 14,201� Pa�,e 22 of?7 Prices for Antiques. http://www.p4a.com Proxibid. http://www.proxibid.com Rub.y Lane. http://www.rubylane.com Terapeak. http://wtiwv.terapeak.com Trocadero. http://www.trocadero.com Ukiyo-e. http://ukiyo-e.org/ Uniform Standards of Professional Appraisal Practice. http://w�vw.appraisalfoundation.org Worthpoint. http:/hv�vw.worthpoint.com [bis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30,201� Effective Date: Date of Death: May l4,2015 Pa�e 2� c�f?7 � PRIVACY NOTICE Pursuant to the Gramm-Leach-Billey Act of 1999, effective July 1, 2001, appraisers, along with all providers of personal financial services are now required by federal la�.v to inform their clients of the policies of the firm with regard to the privacy of client nonpublic personal information. As professionals, we understand that your privacy is very important to you and are pleased to provide you with this information. In the course of performing appraisals, we may collect what is known as "nonpublic personal information" about you. This information is used to facilitate the services that we provide to you and may include the information provided to us by you directly or received by us from others with your authorization. We do not disclose any nonpublic personal information obtained in the course of our engagement with our clients to nonaffiliated third parties, except as necessary or as required by law. By way of example, a necessary disclosure would be to our independent contractors, and in certain situations, to unrelated third party consultants who need to know that information to assist us in providing appraisal services to you. All of our independent contractors and any third party consultants we engage are informed that any information they see as part of an appraisal assignment is to be maintained by strict confidence within the firm. A disclosure required by law would be a disclosure by us that is ordered by a court of competent jurisdiction with regard to a legal action to which you are a party. We will retain records relating to professional services that we have provided to you for a reasonable time so that we are better able to assist you with your needs. In order to protect your nonpublic personal information from unauthorized access by third parties, we maintain physical, electronic, and procedural safeguards that comply with our professional standards to insure the security and integrity of your information. PENSION PROTECTION ACT OF 2006 STATEMENT According to Notice 2006-96, Part III (Administrative, Procedural, and Miscellaneous) this appraisal conforms to the Transitional Guidance Regarding Appraisal Requirements for Non- Cash Charitable Contributions. I am a "qualified appraiser" with the ISA-AM (International Society of Appraisers Accredited Member) designation from the International Society of Appraisers. I regularly perform personal property appraisals for which I receive compensation. My education and experience demonstrating the valuation of the type of property in this appraisal can be found at the end of this report. Because of my background, experience, education, and membership in professional associations, I am qualified to make appraisals of this type of property that is the subject of this appraisaL I have not been prohibited from practicing before the IRS. I understand that a substantial or gross valuation misstatement resulting from this appraisal, used in connection �vith a return or claim for refiind, may subject me to a civil penalty under �6695A. Ibis Appraisal Services: Turri Estate Personalty Appraisal Reported on June 30,201� Effeetive Date: Date of Death: May 14,2015 Pa�e 2=1 of 27 . � STATEMENT OF QUALIFICATIONS Alyssa L.W. Loney, ISA-AM PRESENTLY October 2001- Present. Founder, Director, and CEO of Ibis Appraisal Services, LLC. Responsible for the management and direction of Ibis Appraisal Services, LLC. Responsible for the developing and implementing policies, guidelines, public programs, and standards for personal property appraisal practice and fulfillment. Takes an active role in promoting ethics in personal property appraising. Has conducted over 1000 on-site and in-house personal property appraisals. Performs personal property appraisals for divorces, estates, insurance, donations, non-cash charitable contributions, theft/fraud, and general knowledge. Performs in the service of law firms, banks, insurance agencies, government agencies, military branches, universities, libraries, museums, churches, non-profit agencies, and the public. Performs court-recommended and court-ordered possession (Care, Custody, and Control) of divorcing couples disputed or seized personal property. FORMAL EDUCATION B.Sc. Historical Textiles and Clothing, 1992, West Virginia University, Morgantown, West Virginia, United States. M.A. , Medieval Archaeology, 1995, University of York, York, England. PROFESSIONAL SOCIETY MEMBERSHIP - American Society of Appraisers - International Society of Appraisers - The Foundation for Appraisal Education PROFESSIONAL COURSE COMPLETIONS (YEAR) ISA Cot�rse Completions - Core Course in Appraisal Studies (2007) - Antiques &Residential Contents (2008) - Advanced Report Writing (2011) - Certified Appraiser of Personal Property Testing (2011) - ISA Requal�cation Course (2015) � - ISA Accredited Member Coursework &Testing (2015) USPAP Completions - 2002 15-Hour Uniform Standards of Professional Appraisal Practice (2002) - 2009 15-Hour Uniform Standards of Professional Appraisal Practice (2008) - 2015 15-Hour Uniform Standards of Professional Appraisal Practice (2015) Ibis Appraisal Services:Turri Estate Personalty Appraisal Reported on June 30,201� Effective Date: Date of Death: May 14,201� Pa,e 2� af 27 � , � ' U.S. Government Compietions - Department of the Treasury, Federal Law Enforcement Training Center. (2000) - XP-ARPTP-405. Archeological Resources Protection Training Program - American Antiquities Act of 1906 - National Historic Preservation Act of 1966 - Archaeological Resources Protection Act of 1979 - Native American Graves Protection and Repatriation Act of 1994 PROFESSIONAL ACCOMPLISHMENTS - Has taught CLE courses for the Pennsylvania Bar Association Family Law Section on appraising objects far divorces. - Qualified in court as Expert Witness, Personal Property Appraiser (household and residential contents, antiques and collectibles, electronics, equipment, fine art, firearms, silver, etc.) in Adams, Chester, Cumberland, Dauphin, Juniata, and York Counties, Pennsylvania. PROFESSIONAL PANELS, PAPERS AND PUBLICATIONS - Loney, A.L., Maclay, L.G. & Moonay. 2012. "Hotiv to Apprcrise Uniqare Items— bYhat's That Thing Really Worth?"Panel presented at Family Law Instihite, Family Law Workshop. Philadelphia, PA. - Anthony, J., Loney, A.L., Maclay, L.G., Tabas, L.S. & Tabas, E. 2012. "YVhat's that �orth?"Panel presented at PBA Family Law Section, Winter Meeting. St. Petersburg, FL. - Burton, B., Jenkins, A., Loney, A.L., Sjoberg,A. 2012. "Fan-Made Star tiYars Collectibles". Panel presented at Lucas Films, Star Wars Celebration VI. Orlando, FL. - Crebas, J., Loney, A.L., Wilson, K. 2009. "Girls Love Toys Too1" Panel presented at The Edmonton_Collectible Toy and Comic Show. Edmonton, Canada. - Georgoulias, C. and Loney, A.L. 2007. "Collecting 101". Panel presented at Lucas Films, Star Wars Celebration IV. Los Angeles, CA. - Loney, A.L. 2004. "AppraisingAnti�ues and Collectibles". Paper presented at Sixteenth Annual Montgomery County Women's Conference. Montgomery County Community College, Blue Bell, PA. - Loney, A.L. et al. 2003. "Downtotivn Carlisle—Realizing the Vision". Paper presented at Leadership Carlisle. Carlisle, PA. - Loney, A.L. 2002. "Appraising Personal and Czdtt�ral Properry". Paper presented at The Helena Fecho Tulip Conference. Reading Area Community College, Reading, PA. PROFESSIONAL WEBINAR COMPLETIONS - American Society of Appraisers. 2015. Roger Durkin, Esq., FASA. "The Appraiser as Expert Witness". - American Society of Appraisers. 2015. Elvin Montgomery Jr., Ph.D., AAA. "Appraising Archives: Valuing Archives and Large Mtrlti-Facetec�Collections". - American Society of Appraisers. 2011. Kline, T.R., Andre�vs Kurth, LLP. "Restitution of Art Looted or Other-�vise Displaced dtrring tiVartime: Implications for Appraiser•s". [bis�ppraisal Services: Turri Estate Personalty Appraisal Reported on June 30,201� Effective Date: Date of Death: May l4, 2015 Pa,e 26 of 27 ?00� F3uick LaCrosse CXI. 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