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Home My WebLink About08-16-05 ~.INNLAWFIRII 103-107 E. MARKET ST. P.O. BOX 5185 YORK, PA 17405-5185 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION In re: Estate of Edith M. Weaver No. 21-05-0028 (~ cO . -:;J ..... Petition to Terminate Trust under 20 Pa. C.S.A. ~ 6102 -:p ,- c."=j l"rl =:J />.: en PETITION y - s-:' "" = C::l en ~ ='0 ("n C) S6 CJ n, o 'C:> ..:.:-r, - .: -IJ cO fTl N c> AND NOW, this J.6:h- day of August, 2005, comes Petitioner, PNC A~isors,n Trustee of the Funded Revocable Inter Vivos Trust of Edith M, Weaver, deceased, by and through its counsel, the BENNLA WFIRM, and submits the within Petition to Terminate Trust under 20 Pa, C,S,A. 9 6102, and in support thereof avers the following: L Petitioner, PNC Advisors, is a registered service mark of the PNC Financial Services Group, Inc. for investment management and fiduciary services and certain FDIC insured banking products and services, with an address at 4242 Carlisle Pike, Camp Hill, Cumberland County, Pennsylvania 170 I L 2, Edith M, Weaver ("Ms, Weaver"), deceased, entered into a Funded Revocable Trust Agreement with CCNB Bank, N,A., dated December 30, 1986, 3, Ms, Weaver entered into a Second Amendment to Trust Agreement ("Second Amendment") with CCNB Bank, N,A" dated June 2, 1988, 4. The Second Amendment provided, in applicable part, that upon Ms, Weaver's death: I v - ~.INNLAWFIRII 103-107 E. MARKET 51. P.O. BOX 5185 YORK, PA 17405-5185 "(1) Trustee shall retain the lesser of the sum of$30,000 or 15% of the remaining principal and any accumulated or undistributed income IN FURTHER TRUST, for the following uses and purposes: (a) Two-thirds ofthe net income of the trust shall be paid at least annually to Cove Forge United Methodist Church, Woodbury Township, R.D, #1, Williamsburg, PA. (b) One-third of the net income of the trust shall be paid at least annually to Henry's Lutheran Church Cemetery, Catharine Township, R.D. #1, Williamsburg, P A, to be used by them for the maintenance of the cemetery, (c) Should Cove Forge United Methodist Church cease to exist or merge with another church, its right to income shall cease and the entire income of the trust shall be paid to Henry's Lutheran Church Cemetery for the maintenance of the cemetery." 5. Edith M. Weaver died on December 28,2004 with a Trust balance in excess of$300,000,00, 6, Upon the death of Ms. Weaver, the Trust described in paragraph 4 herein (the "Charitable Trust") was to be created by Petitioner for the benefit of Cove Forge United Methodist Church and Henry's Lutheran Church Cemetery ("the "Charitable Beneficiaries") and funded with a principal balance of $30,000.00. 7, Petitioner, PNC Advisors, is the successor-in-interest to CCNB Bank, N.A, and Trustee of Ms. Weaver's Funded Revocable Inter Vivos Trust. Petitioner would act as Trustee of the Charitable Trust pursuant to the Trust documents, 2 ~.ENNLAWFIRII 103-107 E. MARKET 51. P.O. BOX 5185 YORK, PA 17405-5185 8. The Trust documents do not provide for an end to the income interest of the Charitable Beneficiaries, thereby rendering same perpetual. 9. Beyond a perpetual income interest, the Trust documents do not grant the named Charitable Beneficiaries any rights to invade principal or other rights. 10. Petitioner's annual minimum fee for trust accounts is Two Thousand ($2,000.00) Dollars. 11. Petitioner has not yet established and funded the Charitable Trust so as to preclude payment of Petitioner's annual trust fee from the Charitable Trust principal. 12. Payment of the Trustee's minimum annual fee will decrease the Charitable Trust principal and cause a steady reduction in the amount of income paid to the Charitable Beneficiaries during each year of Trust administration. 13. Based upon historical data and reasonable assumptions, Petitioner anticipates that the Charitable Trust would earn approximately 2% annually, or approximately $600.00 in the first year of administration, subject to subsequent decreases resulting from the annual reduction in principal as aforesaid. 14. Ms. Weaver's obvious purpose in establishing the Charitable Trust was to provide financial support and stability for the Charitable Beneficiaries named therein over a long period of time. 15. Petitioner believes and, therefore, avers, that it is not economically beneficial for the Charitable Beneficiaries, and contrary to the wishes of Ms. Weaver, to administer the Charitable Trust and pay income perpetually given the estimated annual income of the Charitable Trust and the amount of Petitioner' s minimum fee for trust accounts as set forth 3 ~.ENNlAWFIRII 103-107 E. MARKET ST. P.O. BOX 5185 YORK, PA 17405-5185 herein, thereby thwarting the original purpose ofMs, Weaver and making impractical the fulfillment of such purpose, 16, Based on the foregoing, Petitioner requests that this Honorable Court terminate the Charitable Trust and order Petitioner to pay 2/3 of the principal dedicated to the Charitable Trust, or $20,000,00, to Cove Forge United Methodist Church, and order Petitioner to pay 1/3 of the principal dedicated to the Charitable Trust, or $10,000.00, to Henry's Lutheran Church Cemetery, for the maintenance of the said cemetery, under Section 6102(a) of the Probate, Estates and Fiduciaries Code because the original purpose of Ms, Weaver would be more practically fulfilled by an outright distribution and termination of the Charitable Trust would more nearly approximate the intention of Ms, Weaver. 17, Other parties in interest in the Funded Revocable Inter Vivos Trust are the decedent's children: Doris Anne Young, with an address at 9445 Carlisle Road, Dillsburg, Pennsylvania 17019; and Donald Eugene Weaver, with an address at 199 River Isles, Bradenton, Florida 34208, 18, Petitioner has secured a Waiver and Consent from Doris Anne Young, Donald Eugene Weaver and the Charitable Beneficiaries, Cove Forge United Methodist Church and Henry's Lutheran Church Cemetery, as well as a No-Objection Letter from the Pennsylvania Attorney General's Office, attached hereto and made a part of this Petition as Exhibit "A", WHEREFORE, Petitioner respectfully requests that this Honorable Court enter an Order terminating the Charitable Trust of Edith M. Weaver under Section 6102(a) of the Probate, Estates and Fiduciaries Code and directing the Petitioner and Trustee, PNC Advisors, to make distribution outright to Cove Forge United Methodist Church and Henry's 4 ~.ENNLAWFIRII 103-107 E. MARKET 8T P.O. BOX 5185 YORK, PA 17405-5185 Lutheran Church Cemetery of the entire principal balance dedicated to the Charitable Trust, or $30,000,00, according to the following percentages: a) 2/3 of the principal balance to Cove Forge United Methodist Church, or $20,000.00; and b) 1/3 of the principal balance to Henry's Lutheran Church Cemetery, or $10,000.00, to be used solely for purposes of maintenance of the Cemetery. Respectfully submitted, ~- --, .-/ By: . ~~ Nil s S. e ,. 'squire Attorney LD. # 16284 Terence J. Barna, Esquire Attorney LD.# 74410 103 E. Market Street P.O, Box 5185 York, PA 17405-5185 (717) 852-7020 Attorneys for Petitioner, PNC Advisors 5 e5/1S/2005 00:33 71 78528797 BENN LIl.W FIRM 1.s.""\..~W'Fnu. '07 E MARKET 51 'lOX 5155 ;!(. Po. 17405.5185 VERIFICATION PAGE 02 I, Linda J. Lundberg, Assistant Vice President, PNC Advisors, verify that the statements contained in the foregoing "Petition" are true and correct to the best of my knowledge, information and belief. I understand that false statements herein are made subject to the penal- ties of 18 Pa. C.S. Section 4904 relating to unsworn falsification to authorities. DATE: G;/;6/oS- r , ~ Linda J. Lundberg, Assistant Vice Pre . PNC Advisors ~.EHNLAWFIRII EXHIBIT "A" 103-107 E. MARKET ST. P.O. BOX 5185 YORK, PA 17405-5185 JOINDER The undersigned, Doris Anne Young, hereby joins in the foregoing Petition requesting early termination of the Charitable Trust created for the benefit of Cove Forge United Methodist Church and Henry's Lutheran Church Cemetery by Edith M. Weaver in the "Second Amendment to Trust Agreement" dated June 2, 1988, and hereby requests that the Court order payment of the existing principal and accumulated income of such Charitable Trust by the Trustee, PNC Advisors, to Cove Forge United Methodist Church and Henry's Lutheran Church Cemetery as set forth in the foregoing Petition. By: ~ ~-'ff"VJ/ Name: Doris Anne Young Sworn to and subscribed before me this ~ay of June, 2005. Cf)~l}~ Notar. NolaItBISeIII CIrieI J. AlbIIt. NoIaty NlIic Wantnglon r"".. YOlk Clu1Iy My CooI.,.IoeIoo e.piI8s Mar. 26. 2008 MomtW. ~A...-.nOfPblllll JOINDER The undersigned, Donald E. Weaver, hereby joins in the foregoing Petition requesting early termination of the Charitable Trust created for the benefit of Cove Forge United Methodist Church and Henry's Lutheran Church Cemetery by Edith M. Weaver in the "Second Amendment to Trust Agreement" dated June 2, 1988, and hereby requests that the Court order payment of the existing principal and accumulated income of such Charitable Trust by the Trustee, PNC Advisors, to Cove Forge United Methodist Church and Henry's Lutheran Church Cemetery as set forth in the foregoing Petition. B;r:>~ /tt/..--J Name: Donald E. Weaver ..............". MARY BETH LOCKHART /~"':f!A~.'..._ MY GOMMISSION 11 00-368748 . {."; Jit', EXPIRES j,ulllafy 23. ?'o:fi.fJ <.~.....-~ 8c;rlOedThru Notary Public unaerwriters ..,....~.~~... Sworn to and subscribed before me this ~day of June, 2005. /J..lln &:d~~ Notar~~~ JOINDER The undersigned, Cove Forge United Methodist Church, hereby joins in the foregoing Petition requesting early termination of the Charitable Trust created for the benefit of Cove Forge United Methodist Church and Henry's Lutheran Church Cemetery by Edith M. Weaver in the "Second Amendment to Trust Agreement" dated June 2, 1988, and hereby requests that the Court order payment of the existing principal and accumulated income of such Charitable Trust by the Trustee, PNC Advisors, to Cove Forge United Methodist Church and Henry's Lutheran Church Cemetery as set forth in the foregoing Petition. Cove Forge United Methodist Church By: Name: I-:L' N - 41- , ~/' e2lfi- { R {)1 frlJ Title: -'lorn-IUI$ Ti2 flTI vE c. tp Lt 1-1 ~t L. COMMONWEALTH OF PENi"SYl.VA,'IA Notarial Seal J Danine P.lzzetl. Notary Public WiliamsbuIg Boro. Blair County My CommisSion Expifes Jan 1 o~ 200~. Member, Pennsylvania A<;SOc1?1i:i' V;\Jolcl!,eS JOINDER The undersigned, Henry's Lutheran Church Cemetery, hereby joins in the foregoing Petition requesting early termination of the Charitable Trust created for the benefit of Cove Forge United Methodist Church and Henry's Lutheran Church Cemetery by Edith M. Weaver in the "Second Amendment to Trust Agreement" dated June 2,1988, and hereby requests that the Court order payment ofthe existing principal and accumulated income of such Charitable Trust by the Trustee, PNC Advisors, to Henry's Lutheran Church Cemetery and Cove Forge United Methodist Church as set forth in the foregoing Petition. Henry's Lutheran Church Cemetery Sworn to and sub~.<iribed before me this ~ay o une,2005. L. BY:~~'~~ Name~\'cW\.~& <2. ~\'<IC~~ Tit]e~"I(-"'tIl\~~ r~ AMf<<f: 31' ~JItCK 5-rr~t 'W/IIIAlns64(J'j (JI+ /~h 11 .' ~..." Mr. Thomas M.lngle .-- 3IG Black St. ... WIIHam$burG, P^ 16(9)-1106 . .... . ,. COMMONwEALTH OF PENNSYLVANIA NoIariaI Seal Cindy L Brumbaugh, NoIary POOle ~ 1Ioro, BlairCllunty My Coo........... ElcpiresAilg. 14,2008 Member. Pennsylvania Association Of NOlaries COMMONWEALTH OF PENNSYLVANIA OFFICE OF ATTORNEY GENERAL TOM CORBETT ATTORNEY GENERAL June 13,2005 Charitable Trusts and Organizations Section 14th Floor, Strawberry Square Harrisburg, PA 17120 (717) 783-2853 (717) 787-1190 (Fax No.) Terence J. Barna, Esquire BENN LAW FIRM P.O. Box 5185 103 E. Market Street York, PA. 17405-5185 RE: EDITH M. WEAVER TRUST FUND Dear Mr. Barna: I am in receipt of your correspondence of May 31, 2005 and your Petition and Proposed Decree. The Attorney General's Office has no-objection to your Petition and its prayer, nor to the Proposed Decree. This letter should serve as clearance for the distribution of the $30,000.00 portion to the Cove Forge United Methodist Church and Henry's Lutheran Church Cemetary. Please be advised, that the Attorney General's Office does not normally enter into Joinder consents. The Attorney General's method of approval for charitable interests is a no-objection letter clearing the matters in question. You may present this letter of no- objection to the court for clearance of the Proposed Decree and Petition. If you have any questions, please do not hesitate to contact me. Very truly yours, ~ fJ1. OwL Thomas M. Devlin Senior Deputy Attorney General TMD/lss ~.ENNLAWFIRM 103-107 E. MARKET 5T P.O. BOX 5185 YORK. PA 17405-5185 CERTIFICATE OF SERVICE I, Terence J. Barna, Esquire, hereby certify that on this I b h" day of August, 2005, I served a true and correct copy of the foregoing "Petition" by United States ordinary mail, postage prepaid, to the following: Doris Anne Young 9445 Carlisle Road Dillsburg, Pennsylvania 17019 Donald E. Weaver 199 River Isles Bradenton, Florida 34208 Thomas M. Devlin Senior Deputy Attorney General Pennsylvania Attorney General's Office Charitable Trusts and Organizations Section 14th Floor, Strawberry Square Harrisburg, PA 17120 Cove Forge United Methodist Church R.D. #1 Williamsburg, P A 16693 Attn: Barry Neal Henry's Lutheran Church at Yellow Springs Henry's Cemetery R.D.#I Williamsburg, PA 16693 Respectfully submitted, BENNLA WFIRM --:-- " By: Terence J. B , Esquire Attorney I.D. #74410 P.O. Box 5185 103 E. Market Street York, Pennsylvania 17405-5185 (717) 852-7020 6 ." >