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Home My WebLink About09-08-15 �--.a �.--� -� � �.1°, :�>> �� c �, �,'.� c� _r• � �I� c:� c_.> C-� �-h -;� --U --- ,.3 , ,.., � -.. - -- ; :,' _, � - r ..� ::'.� _ ' ._ i _�3 __. _;: c-> w - r-,, r�.� �_.: c, ..,�� ESTATE OF FLOYD J. VARNER File No. 21-08-1155 FAMILY SETTLEMENT AGREEMENT THIS AGREEMENT made this �s r day of �.�,��',,,,,�,��.,__ , 2015, BETWEEN: SHERRY B. BYERS and DONNA K. STOUFFER, being the legatees under the Last Will and Testament of Floyd J. Varner, late of the Township of Southampton, Cumberland County, Pennsylvania, AND SHERRY B. BYERS and DONNA K. STOUFFER, Co-Executrices of the Estate of Floyd J. Varner, deceased, WHEREAS, Floyd J. Varner died October 21, 2008, testate; and WHEREAS, Letters Testamentary were granted to Sherry B. Byers and Donna K. Stouffer on November 20, 2008, by the Register of Wills of Cumberland County, Pennsylvania; and WHEREAS, all assets of the late Floyd J. Varner have been liquidated ar distributed and all his debts paid in full; and WHEREAS, the period of four months having been terminated since the first advertisement of the issuance of Letters to the said Co-Executrices, the said parties WEIGLE & ASSOCIATES, P.C. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257-1397 hereto desire to waive the duty of the Co-Executrices to file a First and Final Account with Proposed Schedule of Distribution for purposes of confirmation by the Court of Common Pleas of Cumberland County, Orphan's Court Division, AND FURTHER desire that a Family Settlement Agreement be executed, which Family Settlement Agreement will be duly recorded among the deed records in and for Cumberland County. NOW, THEREFORE, WITNESSETH, that the parties hereto, in consideration of the premises above stated, and of the Accounting and Proposed Schedule of Distribution attached hereto and made a part hereof, and the receipt of their distributive shares as therein shown, do bind themselves to the said Distribution and Accounting as set forth and further mutually release Sherry B. Byers and Donna K. Stouffer, Co-Executrices, from all claims and demands whatsoever arising out of settlement of the Estate of Floyd J. Varner. The parties hereto do further agree that should any liability come due to the estate of the said decedent after the signing of this agreement, they do hereby covenant and agree with the aforesaid personal representatives that they will contribute pro rata their shares of the estate to satisfy any and all claims, demands, suits, or causes of action which may be successfully prosecuted against the said estate or the aforesaid personal representatives after the signing, sealing and delivery of this family settlement agreement and final release. WEIGLE & ASSOCIATES, P.C. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG, PA 17257-1397 IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. WITNESS: ;.�� _. a;9 � , , , � i��''�fi....�r.,�'!� '"� `' ..1�-'' �.' `'�� (SEAL) ' ~,:< , ;�;t, ;�� Sherrp B. Byers� f � '�` � � , f , �- ,- , , r � , , � ; .� a . ; , r : , _ � �,,C�:`\�.4�.`�,'�.,��' : '(SEAL) � ,€ Donna K. Stouffer '� s. �� COMMONWEALTH OF PENNSYLVANIA : : SS COUNTY OF CUMBERLAND : SY On this, the / �' day of ��,r,,,�„�,�.�..e� , 2015, before me, the undersigned officer, personally appeared SHERRY B. BYERS and DONNA K. STOUFFER, known to me (ar satisfactorily proven) to be the persons whose naines are subscribed to the within instrument, and acknowledged that they executed the same for the purposes therein co�tained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notarial Seal Linda K.Klein, Notary Public ��.,�-��,,,� Shippensburg,PA Cumberland County (SEAL) i�y Commission Expires Autust 15,2016 WEIGLE & ASSOCIATES, P.C. - ATTORNEYS AT LAW - 126 EAST KING STREET - SHIPPENSBURG. PA 1'7257-1397 In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-08-1155 Estate of Floyd J.Varner, Deceased Southampton Township, Cumberland County First and Final Account Sherry B. Byers and Donna K. Stouffer, Co-Executrices Date of Death: 10/21/2008 Date of Incapacity, if any: None Date of Co-Executrices'Appointment: 11/20/2008 Date of First Complete Advertisement: 12/12/2008 Accounting for the period: 10/21/2008 to 08/20/2015 Purpose of Account: Sherry B. Byers and Donna K. Stouffer, Co-Executrices, offer this Account to acquaint interested parties with the transactions that have occurred during the Administration. It is important that the Account be carefully examined. Requests for additional information or questions or objections can be discussed with: Jerry A.Weigle Esquire Weigle&Associates, P.C. 126 East King Street Shippensburg, PA 17257 717/532-7388 Supreme Court I.D. No. 01624 SUMMARY OF ACCOUNT Estate of Floyd J.Varner, Deceased For h n riod of O tob r 1, 2008 thro��h A�� 0, 2015 Fiduciary Current Acquisition Proposed Distributions P�� Value Value to Beneficiaries 18 356,624.85 356,624.85 PRINCIPAL Receipts: This Account 3 -4 892,335.54 Net Gain (or Loss) on Sales or Other Dispositions 5 24.73 892,360.27 Less Disbursements: Debts of Decedent 6 3,615.49 Funeral Expenses 7 9,395.16 Administration Expenses 7 -8 15,579.26 Federal, State 8� Local Taxes 8 -9 35,870.95 Commissions 0.00 Fees 9 18,218.07 Family Exemption 0.00 82,678.93 Balance Before Distributions 809,681.34 Transfer to (from) Principal 0.00 Distributions to Beneficiaries 10 458,228.00 Principal Balance on Hand 11 351,453.34 For Information: Investments Made Changes in Holdings 12 INCOME Receipts This Account 13 -14 5,424.94 Net Gain (or Loss) on Sales 0.00 or Other Dispositions 5,424.94 Less Disbursements 15 253.43 Balance Before Distributions 5,171.51 Transfer to (from) Income 0.00 Distributions to Beneficiaries 0.00 Income Balance on Hand 16 5,171.51 For Information: Investments Made Changes in Holdings COMBINED BALANCE ON HAND 17 356,624.85 Signature 19 Verification 20 - 2 - SCHEDULE A RECEIPTS OF PRINCIPAL Assets Listed in Inventory Fiduciary (Valued as of Date of Death) Acquisition Value Cash Kittatinny Manufacturing Services -25%interest 188,233.00 Orrstown Bank Checking Account#35846 2,019.22 Accrued interest on above item through date of death 0.12 Reading Road Realty-20%interest 138,995.00 Total Cash 329,247.34 Personal Pronertv Personal Property-proceeds of public sale of 7,195.12 personal property and various assorted older vehicles Total Personal Property 7,195.12 Stocks/Listed Prudential Financial -proceeds of sale of 31 shares 993.34 01-12-2009 Total Stocks/ Listed 993.34 Bonds U.S.Savings Bonds 2,660.97 Total Bonds 2,660.97 Real Estate Cabin-705 High Mountain Road,Shippensburg, 91,000.00 South Newton Township,Cumberland County, PA-IN KIND Farm Residence-99 Cherry Grove Road, 397,113.95 Shippensburg,Southampton Township,Cumberland County, PA-net proceeds of sale 7-30-15 Total Real Estate 488,113.95 Total Receipts s2s,2�o.�2 Subsequent Princinal Recei� 12/18/2008 Adams Electric Cooperative-patronage payment 94.43 02/02/2010 Adams Electric Cooperative-patronage payment 63.45 - 3 - SCHEDULE A RECEIPTS OF PRINCIPAL Continued Fiduciary Acquisition Value 02/23/2011 Adams Electric Cooperative-patronage payment 86.32 11/07/2012 Adams Electric Cooperative-estate retirement of 610.23 patronage account 10/21/2008 Comcast Cable-refund of final payment 61.60 12/06/2008 Comcast Cable-refund at cancellation 11.52 04I07/2009 Commonwealth of Pennsylvania-2008 PA40 income 217.48 tax refund 01/15/2009 Donna K.Stouffer and Sherry B. Byers-Equal 5,000.00 contribution to estate for payment of debts 07/21/2009 Donna K.Stouffer and Sherry B. Byers-Equal 5,000.00 contribution to estate for payment of debts 08/06/2009 Donna K. Stouffer and Sherry B. Byers-Equal 200.00 contribution to estate for payment of debts 08/14/2012 Donna K.Stouffer and Sherry B. Byers-Equal 450.00 contribution to estate for payment of debts 11/21I2008 Sherry B. Byers-Proceeds of M&T Checking 5,091.03 Account 97560022 jointly owned with decedent, renounced to estate 11/21/2008 Sherry B. Byers-Proceeds of M&T Savings Account 16,970.94 7976688 jointly owned with decedent, renounced to estate 11/21/2008 Sherry B. Byers-Proceeds of M&T Certificate of 8,168.67 Deposit 4603872 jointly owned with decedent, renounced to estate 11/21/2008 Sherry B. Byers-One-half of proceeds of Members 7,625.15 1st Federal Credit Union Certificate of Deposit 67350 -42,jointly owned with decedent, renounced to estate 04/03/2015 Sherry B. Byers -Contribution to estate for payment 250.00 of debts 01/15/2009 Sherry B. Byers and Donna K.Stouffer-Equal 12,500.00 contribution to estate for payment of debts 04/14/2009 U.S.Treasury-2008 1040 income tax refund 1,724.00 Total Subsequent Principal Receipts 64,124.82 Total Adjustments and Subsequent Receipts sa,124.82 Total Receipts of Principal as2,335.54 - 4 - SCHEDULE B GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS - PRINCIPAL in Loss 12/18/2008 U.S.Savings Bonds Net Proceeds 2,685.70 Fiduciary Acquisition Value -2,660.97 24.73 TOTAL GAINS AND LOSSES/PRINCIPAL 24.73 LESS LOSS NET GAIN OR LOSS 24.73 - 5 - SCHEDULE C DISBURSEMENTS OF PRINCIPAL Debts of Decedent 11/26/2008 Adams Electric Cooperative 76.00 11/26/2008 Comcast Cable 61.60 11/26/2008 Comfort Keepers 832.50 11/26/2008 Penelec 10.73 12/16/2008 Cardiology Diagnostic, LLC 1.63 12/16/2008 Embarq 68.49 12/16/2008 Met-Ed 15.76 12/23/2008 Adams Electric Cooperative 51.00 01115/2009 Internal Revenue Service-4th quarter 2008 estimated 700.00 tax payment 01/15/2009 Met-Ed 9.89 01/15/2009 PA Department of Revenue-4th quarter 2008 212.00 estimated tax payment 02/03/2009 Adams Electric Cooperative 48.00 02/10/2009 Met-Ed 11.27 02I10/2009 Timmons Oil, Inc. 349.15 02/19/2009 Adams Electric Cooperative 48.00 02/19/2009 Janet E. Frantz,Tax Collector-real estate taxes on 285.99 cabin 03/OS/2009 Vivian F.Coy,Tax Collector-real estate taxes on 208.08 farm residence 03/10/2009 Capital Tax Collection Bureau-2008 local income tax 18.90 03/11/2009 Met-Ed 9.04 04103/2009 Adams Electric Cooperative 47.00 04/16/2009 Met-Ed 11.07 04/16/2009 Timmons Oil, Inc. 408.64 04/30/2009 Adams Electric Cooperative 48.00 05/19/2009 Adams Electric Cooperative 52.00 05/19/2009 Met-Ed 20.07 06/16/2009 Met-Ed 10.68 Total Debts of Decedent 3,615.49 - 6 - SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued Funeral Ex enses 11/25/2008 Fogelsanger-Bricker Funeral Home 9,395.16 Total Funeral Exnenses 9.395.16 Administration Ex enses 11/20/2008 Register of Wills,Cumberland County-Letters 814.00 Testamentary and Short Certificates 11/26/2008 Cumberland Law Journal-advertising Letters 75.00 Testamentary 01/13/2009 News Chronicle-advertising Letters Testamentary 121.25 01/27/2009 Wolfe&Shearer Appraisal Services 600.00 02/03/2009 Register of Wills,Cumberland County-1 Short 4.00 Certificate 03/10/2009 Register of Wills,Cumberland County-1 Short 4.00 Certificate 05/05/2009 R&R Roofing and Dumpster Rentals-rental 260.00 06/16/2009 R&R Roofing and Dumpster Rentals -rental 500.00 07/15/2009 Linda K. Klein -notary fee 22.00 07/15/2009 Register of Wills,Cumberland County-filing PA 15.00 Inheritance Tax Return 07/1512009 Register of Wills,Cumberland County-filing Family 100.00 Settlement Agreement 07/15/2009 Weigle&Associates, P.C. -reimbursement for 50.00 postage,xerox copies,and long distance telephone calls 07/23/2009 Recorder of Deeds,Cumberland County-recording 49.50 cabin deed to Sherry Byers 08/06/2009 Myers Tax Service-consultation fee 110.00 09/24/2009 Sherry B. Byers-partial repayment of loan to estate 1,500.00 09130/2009 Sherry B. Byers-reimbursement for payment of 421.00 homeowner's insurance premium to Everett Cash Mutual 10/06/2009 Donna K. Stouffer-reimbursement for payment of 65.00 public sale port-a-potty - 7 - SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued 10/06/2009 Donna K.Stouffer-partial repayment of loan to estate 1,500.00 04/13/2010 Vivian F.Coy,Tax Collector-real estate taxes on 216.52 farm residence 07/22/2010 Donna K.Stouffer-reimbursement for fire insurance 428.00 premium, Strickler Agency 07/22/2010 Vivian F. Coy,Tax Collector-real estate taxes on 1,137.61 farm residence 07/27/2010 M&T Bank-printed estate checks 13.87 02/23/2011 Donna K.Stouffer-reimbu�sement for payment of 83.00 electric bill 03/03/2011 Vivian F. Coy,Tax Collector-real estate taxes on 342.90 farm residence 08/1112011 Vivian F. Coy,Tax Collector-real estate taxes on 1,678.46 farm residence 03/01/2012 Vivian F. Coy,Tax Collector-real estate taxes on 335.89 farm residence 08/14/2012 Vivian F.Coy,Tax Collector-real estate taxes on 1,678.61 farm residence 03/12/2013 Vivian F. Coy,Tax Collector-real estate taxes on 256.50 farm residence 08/13/2013 Vivian F. Coy,Tax Collector-real estate taxes on 1,173.10 farm residence 03/06/2014 Vivian F.Coy,Tax Collector-real estate taxes on 269.21 farm residence 08/18/2014 Vivian F.Coy,Tax Collector-real estate taxes on 1,229.89 farm residence 03/0412015 Vivian F. Coy,Tax Collector-real estate taxes on 274.95 farm residence 08/20/2015 Sherry B. Byers-reimbursement for 4-3-15 250.00 contribution to estate for payment of expenses Total Miscellaneous Administrative Exqenses 15.579.26 Federal� State, and Local Taxes 01/16/2009 Register of Wills,Cumberland County-PA 30,000.00 inheritance tax at discount 07/15/2009 Register of Wills,Cumberland County-PA 5,870.95 inheritance tax balance due - $ - SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued Total Taxes 35,870.95 Fees 12/18/2008 Weigle&Associates, P.C. -partial fee payment 5,000.00 07/15/2009 Weigle&Associates, P.C.-balance of fee 12,368.07 08/20/2015 Weigle&Associates, P.C. -additional fees incurred 850.00 during the 4 1/2 years since approval of PA inheritance tax return Total Fees 18,218.07 TOTAL DISBURSEMENTS OF PRINCIPAL 82,678.93 - 9 - SCHEDULE D DISTRIBUTIONS OF PRINCIPAL Donna K. Stouffer 07/27/2010 Kittatinny Manufacturing Services 94,116.50 07/27/2010 Reading Road Realty 69,497.50 08/06/2015 Partial Distribution -CASH 40,000.00 203,614.00 Sher,r�/ B. Byers 07/15/2009 Cabin-705 High Mountain Road,Shippensburg, 91,000.00 South Newton Township,Cumberland County, PA-IN KIND 07/27/2010 Kittatinny Manufacturing Services 94,116.50 07/27/2010 Reading Road Realty 69,497.50 254,614.00 TOTAL DISTRIBUTIONS TO BENEFICIARIES 458,228.00 - 10 - PRINCIPAL BALANCE ON HAND Current Value Fiduciary 08/20/2015 Acquisition # Units Description or as Noted Value �ash Estate Checking Account 351,453.34 351,453.34 Total Cash 351.453.34 351,453.34 351,453.34 351,453.34 - 11 - SCHEDULE F CHANGES IN PRINCIPAL HOLDINGS # ni Cost Ca in 10/21/2008 I nventoried 91,000.00 07/15/2009 Distri buted -91,000.00 0.00 Kittatinny Manufacturing Services 10/21/2008 Inventoried 188,233.00 07/27/2010 Distributed -94,116.50 07/27/2010 Distributed -94,116.50 0.00 Reading Road Realtx 10/21/2008 Inventoried 138,995.00 07/27/2010 Distributed -69,497.50 07/27/2010 Distributed -69,497.50 0.00 U. S. Savings Bonds 10/21I2008 Inventoried 2,660.97 12/18/2008 Sold -2.660.97 0.00 Total o.00 - 12 - SCHEDULE G RECEIPTS OF INCOME Dividend Prudential Financial 12/19/2008 17.98 17.98 TOTAL DIVIDEND INCOME 17.98 Interest/Bank M 8�T Bank Estate Checking Account 12/31/2008 2008 interest 0.69 12/31/2009 2009 interest 4.48 12/31/2010 2010 interest 0.54 12/31/2011 2011 interest p,22 12/31/2012 2012 interest 0.12 12/31/2013 2013 interest 0.14 12/31/2014 2014 interest 0.10 07/21/2015 2015 interest 0.04 6.33 Orrstown Bank Checking Account#35846 10/21/2008 final interest at closing 0.63 0.63 TOTAL BANK INTEREST 6.96 Other Income Farm Residence 07/15/2009 land rent-Horst 800.00 04127/2010 land rent-Horst 800.00 - 13 - SCHEDULE G RECEIPTS OF INCOME Continued 10/05/2011 land rent-Horst 800.00 09/18I2012 land rent-Horst 800.00 06/24/2013 land rent-Horst 800.00 08/13/2013 storage rent-Stouffer 400.00 07/09/2014 land rent-Horst 1,000.00 5,400.00 5,400.00 TOTAL RECEIPTS OF INCOME 5,424.94 - 14 - SCHEDULEI DISBURSEMENTS - INCOME Expense / INCOME 03/10/2009 PA Department of Revenue-2008 PA41 fiduciary 120.43 income tax 03/25/2010 PA Department of Revenue-2009 PA41 fiduciary 2.00 income tax 02/22/2011 PA Department of Revenue-2010 PA41 fiduciary 25.00 income tax 02/24/2012 PA Department of Revenue-2011 PA41 fiduciary 25.00 income tax 01/30/2013 PA Department of Revenue-2012 PA41 fiduciary 25.00 income tax 02/25/2014 PA Department of Revenue-2013 PA41 fiduciary 25.00 income tax 02/19/2015 PA Department of Revenue-2014 PA41 fiduciary 31.00 income tax TOTAL DISBURSEMENTS OF INCOME 253.43 - 15 - INCOME BALANCE ON HAND Current Value Fiduciary 08/20/2015 Acquisition #Units Description or as Noted Value .ach Estate Checking Account 5,171.51 5,171.51 Total Cash 5,171.51 5,171.51 5,171.51 5,171.51 - 16 - COMBINED BALANCE ON HAND Current Value Fiduciary 08/20/2015 Acquisition # Units Description or as Noted Value S'�ash Estate Checking Account 356,624.85 356,624.85 Total Cash 356,624.85 356,624.85 356,624.85 356,624.85 - 17 - PROPOSED DISTRIBUTIONS TO BENEFICIARIES Current Value Fiduciary 08/20/2015 Acquisition or as noted Value TO: Donna K. Stouffer One-Half Residuary Estate($243,812.42)-less$40,000 prior Cash 203,812.42 203,812.42 Distribution 203,812.42 203,812.42 TO: Sherry B. Byers One-Half Residuary Estate($243,812.43)-less$91,000 prior In Kind 152,812.43 152,812.43 Distribution 152,812.43 152,812.43 Total 356,624.85 356.624.85 The above balances stated for Proposed Distributions are subject to increase by reason of any additional income or receipts and are subject to decrease by reason of any additional expenses in the administration and distribution of the estate after the end of the above- stated accounting period to the time of final distributian. - 18 - In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-08-1155 _ _ Estate of Floyd J.Varner, Deceased Signatures n.,�� Sherry B. ers, Co-Ex cutrix AND � �� _ `�—%C��`Lti�. � . =��Cl �,�— Donna K. Stouffer, Co-Executrix - 19 - In the Court of Common Pleas of Cumberland County, Pennsylvania Orphans' Court Division File No. 21-08-1155 Estate of Floyd J.Varner, Deceased Verification Sherry B. Byers and Donna K. Stouffer, Co-Executrices under the Last Will and Testament of Floyd J.Varner, Deceased, hereby declare under oath that they have fully and faithfully discharged the duties of their office; that the foregoing Account is true and correct and fully discloses all significant transactions occurring during the accounting period; that all known claims against the Estate have been paid in full; that,to his/her knowledge,there are no claims now outstanding against the Estate; that all taxes presently due from the Estate have been paid; and that the grant of Letters Testamentary and the first complete advertisement thereof occurred more than four months before the foregoing Account. This statement is made subject to penalties of 18 Pa. C.S.A. Section 4904 relating to unsworn falsification to authorities. ; , � Dated: Q—�—%� � 1 � �� L Sherry B. ers, Co-Exec rix � Dated: �—/'- /.S �J�:�\'�;��.'t `�G � ;s Donna K. Stouffer, Co-Executrix - 20 -