HomeMy WebLinkAbout09-08-05
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FANULYSETTLEMENTAGREEMENT
KNOW ALL MEN BY THESE PRESENTS that DUANE D. BAUER died
January 6,2005 with a Will dated December 12, 2003. MARGUERITE BAUER CHRISTY
and DAVID DUANE BAUER were appointed Executors on January 14, 2005 in the Office of
the Register of Wills of New Cumberland County, Pennsylvania under File No. 21-05-0035.
WHEREAS, the Will of DAUNE D. BAUER states:
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ITEM 11.
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I give devise and bequeath to LOIS V. BA UER, my wife, my aut@~ile, i'~
all household furnishings and appliances and a life estate in my hQus'e -;J
situate and known as 1202 Allen Street, New Cumberland, PennsylvPhia. 'iir
any replacement thereof with Lois V. Bauer to pay all property !#i, .....,
reasonable fire, storm and liability insurance on the premises am!minor :=
maintenance and repairs. ) --I
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ITEM II (A): Pay out of income and and/or corpus the sum of$9, 000. 00 in advance
annually to Lois Bauer, my wife( during her lifetime- written on to
document) commencing on the date of my death.
WHEREAS, by this Agreement, LOIS V. BAUER, beneficiary and spouse of the
decedent and MARGUERITE BAUER CHRISTY and DAVID DUANE BAUER, Executors
and beneficiaries in the above-mentioned decedent' Will, do acknowledge that we desire that the
estate be distributed without the formality of a court accounting.
WHEREAS, the parties intending to be legally bound:
1. Agree that LOIS V. BAUER disclaims any rights to the life estate of the
said real estate property as set forth in ITEM II for the sum of Thirty six thousand
($36,000.00) DoHan and agrees to sign a separate agreement disclaiming her life estate.
2_ Agree that LOIS V. BAUER relinquishes all responsibility for the payment
of all 2005 real estate taxes. Furthermore, all reasonable fire, storm and liability insurance on the
premises will be paid by the said Estate after the signing of this agreement or when the new
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MAR-28-20B5 04:37 PM KEEN KEEN & GOOD
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will be paid by the said Estate after the signing of this agreement or when the new premium is due on
said property. LOIS V. BAUER will send any tax billls and insurance information now in her
possession to Executors of the Estate.
3. Agree that LOIS V. BAUER is to receive the automobile (1997 Mercury) and
the household furnishings and appliances on Exhibit "A". Said title to the ear will be tnmlferred to
LOIS V. BAUER and she will receive all items set forth in the attached Schedule A.
It is agreed that all personal property left at the home will be the responsibility of the
Estate to distribute in kind or discard and LOIS V. BAUER does relinquish all rights to said personal
property after the moving date(within 30 days) agreed to by the parties. LOIS V. BAUER to
personally vacate said premises within said 30 days.
4. Agree that LOIS V. BAUER receive a payment of $9.000.00 for the year 2005 as
full and final payment under the terms of the Trust as mentioned in ITEM II (A) of this the Will and she
relinquishes all rights to any future payments of 19,000.00.
J. AjpCC that LOIS V. BAUER relinquishes the diamond ring valued at 523,000.00
to the Estate.
6. AjpCC that LOIS V. BAUER, spouse of the decedent has been fully informed of
her right to lake against the Will and based on the representation of the value of the Estate through a
letter dated February 21, 2005 from Roben E. Myers. Esquire does hereby irrevocably waive the
Election to take against the Will.
7. Agree this Family Settlement Agreement is binding on the parties, heirs
successors and assigns and is not effected by the death or disability of any of the parties and the
check for the sum of Forty five thousand (545,000.00) will be paid to said LOIS V. BAUER,
her personal representative, heirs or assigns as follows:
a. One half or Twenty two thousand five hundred ($22,500.00) Dollars at the
time of the signing of the agreement.
b. One half or Twenty two thousand five hundred ($22,500.00) Dollars at
the time the home is vacated including items set forth in Schedule A of this agreement. It is
understood that Lois V. Bauer and all items will be moved within thirty days of the signing of this
agreement.
c. It is understood that Robert Myers, Esquire will hold the second payment
until final payment is made to LOIS V. BAUER.
WHEREAS, LOIS V. BAUER does hereby forever remise, release, quitclaim and
forever discharge MARGUERITE BAUER CHRISTY and DAVID DUANE BAUER as
Executors and the ESTATE OF DUANE D. BAUER, with respect to any and all actions, suits,
payments, accounts, reckonings, claims and demands whatsoever for or by release of their
administration of the ESTATE OF DUANE D. BAUER.
IN WITNESS WHEREOF, we have hereunto set our hands and seals this
8th day of April, 2005.
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Lois V. Bauer
(SEAL)
(Signatures of the Executors, MARGUERITE CHRISTY and DAVID BAUER) continued on
next page)
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MAR-28-20BS 04:38 PM KEEN KEEN & GOOD
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MarK". it auer Christy. individually and
as Ex c or {the Est~i1:f Duane D. Bauer
~ - - (SEAL)
David Duane Bauer, Individually and
as &ecutol' of the Estate of Duane D. Bauer
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