HomeMy WebLinkAbout10-25-05
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REV-1500
INHERITANCE TAX RETURN
RESIDENT DECEDENT
COMMONWEALTH OF
PENNSYLVANIA
DEPARTMENT OF REVENUE
DEPT. 280601
HARRISBURG, PA 17128-0601
FILE NUMBER .
~L-~2- ..Q.13-2-~_
COUNTY CODE YEAR NUMBER
SOCIAL SECURITY NUMBER
DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
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1 87- 3 2 - 4 9 6 3
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER <DF WILLS
Hornbeck, Janet W.
DATE OF DEATH (MM.DD.Year)
DATE OF BIRTH (MM.DD.Year)
01/27/2005 12/13/1911
(IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
SOCIAL SECURITY NUMBER
N/A
o 3. Remainder Return ~ Ie 01 death prior to 12-13-82)
o 5. Federal Estate Tax R turn Required
_ 8. Total Number of Safa eposit Boxes
o 11. Election to tax under ec. 9113(A)(Attach Sch 0)
o 2. Supplemental Retum
o 4a. Future Interest Compromise (date 01 death after 12-12-82)
[XJ 7. Decedent Maintained a Living Trust (Attach copy ofTrusl)
o 10. Spousal Poverty Credit (date of death between 12-31-91 and 1-1-95)
[XJ 1. Original Retum
o 4. Limited Estate
[XJ 6. Decedent Died Testate (Attach copy of Will)
o 9. Litigation Proceeds Received
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THIS SECTION MUSTBE COM PL.ETEDJ A1..1:l CORRESPONDENCEANO:CONFI DENTIAUTAXiINEORMATION<SHOUI..DBE
NAME COMPLETE MAILING ADDRESS
David R. Getz Es uire 508 North Second Street
FIRM NAME (If Applicable)
WIX WENGER & WEIDNER P.O. Box 845
TELEPHONE NUMBER
717 234-4182 Harrisbur A 17108-0845
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OFFICI .L:!SE ONLY
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11,651.71
1. Real Estate (Schedule A) (1)
2. Stocks and Bonds (Schedule B) (2)
3. Closely Held Corporation, Partnership or Sole.Proprietorship (3)
4. Mortgages & Notes Receivable (Schedule D) (4)
5. Cash, Bank Deposits & Miscellaneous Personal Property (5)
(Schedule E)
6. Jointly Owned Property (Schedule F) (6)
o Separate Billing Requested
7. Inter-Vivos Transfers & Miscellaneous Non.Probate Property (7)
(Schedule G or L)
8. Total Gross Assets (total Lines 1-7)
9. Funeral Expenses & Administrative Costs (Schedule H) (9)
10. Debts of Decedent Mortgage Liabilities, & Liens (Schedule I) (10)
11. Total Deductions (total Lines 9 & 10)
12. Net Value of Estate (Line 8 minus Line 11)
13. Charitable and Govemmental Bequests/See 9113 Trusts for which an election to tax has not been
made (Schedule J)
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30,980.00
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551,733.95
594,365.66
(8)
14,890.81
2,951.98
17842.79
576,522.87
(11)
(12)
(13)
576 522.87
(14)
14. Net Value Subject to Tax (Line 12 minus Line 13)
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
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15. Amount of Line 14 taxable at the spousal tax
rate, or transfers under Sec. 9116 (a)(1.2)
0.00
25 943.53
0.00
0.00
25943.53
0.00 X _ (15)
576,522.87 X .045 (16)
0.00 X .12 (17)
0.00 X .15 (18)
(19)
16. Amount of Line 14 taxable at lineal rate
17. Amount of Line 14 taxable at sibling rate
18. Amount of Line 14 taxable at collateral rate
19. Tax Due
CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
20. ~
De,ce~enrs Complete Address:
STREET ADDRESS I
222 Messiah Circle 'I
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CITY I STATE I ZIP
Mechanicsburg PA 170SC
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
26.500.00
1.297.18
Total Credits (A + B + C)
(2)
3. Interest/Penalty if applicable
D. Interest
E. Penalty
Total Interest/Penalty ( D + E) (3)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 1 Line 20 to request a refund (4)
5. If Line 1 + Line 3 is greater than Line 2, enter the difference, This is the TAX DUE. (5)
A. Enter the interest on the tax due. (5A)
8. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (58)
Make Check Payable to: REGISTER OF WILLS, AGENT
25,943.53
27.797.18
0.00
1,853.65
0.00
0.00
PLEASE ANSWER THE FOllOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS i
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1. Did decedent make a transfer and: Yes
a. retain the use or income of the property transferred; ........................................................................... 0
b. retain the right to designate who shall use the property transferred or its income; ........................................ 0
c. retain a reversionary interest; or ...................................................................................................... 0
d, receive the promise for life of either payments, benefits or care? ............................................................. 0
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration?......... ..........................,.................................. ....................'... D
3. Did decedent own an 'in trust for" or payable upon death bank account or security at his or her death? ................. D
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
t' b f" d' t'? f)(1
con alns a ene IClary eSlgna lon, ....................................................................................................... ~
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IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF TIfIE RETURN.
PA 17108-084
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For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3%
[72 P.S. 99116 (a) (1 ,1) (ill.
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to (
The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirement
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 twenty-one years of age or i
or a stepparent of the child is 0% [72 P.S. 99116(a)(1 ,2)],
ADDRESS
David R. Getz, Es'quir IWIX, WENGER & WEIDNER
508 North Second Street. P.O. Box 845, Harrisburg
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiarie
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12% [7,
individual who has at least one parent in common with the decedent, whether by blood or adoption.
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72 P.S. 99~16 (a) (1.1) (ii)],
1m are stiU:applicable even if
I parent, ~n adoptive parent,
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:1.2) [72 F.S' !l9116(a)(1)],
'-1/''' <l'UlIIlg IS defined, under Section 9102, as an
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REV-1~02 EX + (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Hornbeck. Janet W. i
All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be
exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts. .
SCHEDULE A
REAL ESTATE
Real propertv which is iointly-owned with riQht of survivorship must be disclosed on Schedule F.
ITEM ALUEATDATE
NUMBER DESCRIPTION OF DEATH
1. None 0.00
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TOTAL (Also enter on line 1, Recapitulation) $ 0.00
(If more space is needed, insert additional sheets of the same size)
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REV-15.03 EX + (6-98)
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COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE B
STOCKS & BONDS
ESTATE OF
Hornbeck. Janet W,
FILE NUMBER
ITEM ALUEAT DATE
NUMBER DESCRIPTION OF DEATH
1. None 0.00
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TOTAL (Also enter on line 2, Recapitulation) $ 0,00
All property jointly-owned with right of survivorship must be disclosed on Schedule F
(II more space is needed, insert additional sheets of the same size)
REV-15C14 EX + (6-98)
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COMMONWEALTH OF PENNSYLVANIA
INHERITANCE T AA RETURN
RESIDENT DECEDENT
SCHEDULE C
CLOSEL Y.HELD CORPORATION,
PARTNERSHIP OR
SOLE.PROPRIETORSHIP
ESTATE OF
FILE NUMBER
Hornbeck. Janet W. I
Schedule C-1 or C-2 (including all supporting information) must be attached for each closely-held corporation/partnership interest of the decedent, othe~ than a
sole-proprietorship. See instructions for the supporting information to be submitted for sole-proprietorships.
ITEM ALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. None 0.00
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TOTAL (Also enter on line 3, Recapitulation) $ 0.00
(If more space is needed, insert additional sheets of the same size)
"":'""07 EX: {a-.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE D
MORTGAGES & NOTES
RECEIVABLE
ESTATE OF
Hornbeck. Janet W.
FILE NUMBER
ITEM \ AlUEAT DATE
NUMBER DESCRIPTION OF DEATH
1. None 0.00
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TOTAL (Also enter on line 4, Recapitulation) $ 0.00
All property jointly-owned with the right of survivorship must be disclosed on Schedule F.
(If more space is needed, insert additional sheets of the same size)
REV -15.08 EX + (6-98)
.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
ESTATE OF
Hornbeck. Janet W.
FILE NUMBER
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM ALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. ING Account 210007797 11,651.71
(valuation letter attached)
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TOTAL (Also enter on line 5, Recapitulation) $ 11,651.71
Include the proceeds of litigation and the date the proceeds were received by the estate
(If more space is needed, insert additional sheets of the same size)
REV-1(i09 EX + (6-98)
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COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE F
JOINTLY-OWNED PROPERTY
ESTATE OF
Hornbeck Janet W.
FILE NUMBER
SURVIVING JOINT TENANT(S) NAME ADDRESS RELATIQ NSHIP TO DECEDENT
A. James W. Hornbeck, II 19 Woodridge Road Son
Durham, NH 03824
B A. Kathleen Vandenburgh 3130 Fishing Creek Valley Road Daugh er
Harrisburg, PA 17112
c Virginia Lee Andrews 1714 Dryden Way Daughter
Croften, MD 21114
JOINTL Y.OWNED PROPERTY:
LETTER DATE DESCRIPTION OF PROPERTY %OF DATE OF DEATH
ITEM FOR JOINT MADE INCLUDE NAME OF FINANCIAL INSTITUTION AND BANK ACCOUNT NUMBER OR SIMILAR DATE OF DEATH DECO'S VALUE OF
NUMBER TENANT JOINT IDENTIFYING NUMBER. ATTACH DEED FOR JOINTLY-HELD REAL ESTATE. VALUE OF ASSET INTEREST DECEDENT'S INTEREST
1. A. 11/1987 Series EE US Savings Bond 12,392.00 50. 6,196.00
Serial NO.X5458420EE
2. A. 11/1987 Series EE US Savings Bond 12,392.00 50. 6,196.00
Seri~No.X5458419EE
3. B. 11/1987 Series EE US Savings Bond 12,392.00 50. 6,196.00
Serial No. X5458421 EE
,
4. B, 11/1987 Series EE US Savings Bond 12,392.00 50. 6,196.00
Serial No. X5458422EE
5. C. 11/1987 Series EE US Savings Bond 12,392.00 50. 6,196.00
Serial No.X5458423EE
VALUATIONS ATTACHED
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TOTAL (Also enter on line 6, Recapitulation) $ 30,980.00
If an asset was made joint within one year of the decedent's date of death, it must be reported on Schedule G.
(If more space is needed. insert additional sheets of the same size)
REV-1510 EX + (6-98)
'.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
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SCHEDULE G
INTER.VIVOS TRANSFERS &
MISC. NON.PROBA TE PROPERTY
FilE NUMBER
Hornbeck Janet W.
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is ye: .
DESCRIPTION OF PROPERTY
ITEM INClUDE THE NAME ()" THE TRANSFEREE, THEIR RELATIONSHIP 1'0 DEQEDENT AND DATE OF DEATH % OF DECD'S EXCLUSION. TAXABLE
NUMBER THE DATE ()" TRANSFER. ATTACH ACOPY()" THE DEED FOR REAL ESTATE. VALUE OF ASSET INTEREST VALUE
(IF APPLICABLE)
1. The Hornbeck Trust Agreement Number One, Dated the 8th 255,094.95 100. 255,094.95
day of July, 1996 (a/k/a the Janet Hornbeck Trust)
2. The Hornbeck Trust Agreement Number One, Dated the 8th 296,639.00 100. 296,639.00
day of July, 1996 (a/k/a the James Hornbeck Trust)
SEE ATTACHED ITEMIZATIONIVALUATION REPORT
PROVIDED BY RAYMOND JAMES FINANCIAL SERVICES
INC. and PNC BANK (Janet Hornbeck Trust only)
TOTAL (Also enter on line 7 Recapitulation) $ 551,733.95
(If more space is needed, insert additional sheets of the same size) ,
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REV-1~11 EX + (12-99)
'*
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
ESTATE OF
Hornbeck. Janet W.
FILE NUMBER
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. Musselman Funeral Home & Cremation Services, Inc. 6,070.00
2. Funeral expenses (organist, minister, deacons) 550.00
3. Headstone engraving 80.00
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B. ADMINISTRATIVE COSTS: i
1. Personal Representative's Commissions
Name of Personal Representative (s)
Social Security Numbe~s)/EIN Number of Personal Representative(s)
Street Address
City State Zip
Year(s) Commission Paid:
AttorneyFees Wix, Wenger & Weidner (estimated) I 4,800.00
2.
3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City State Zip
Relationship of Claimant to Decedent
4. Probate Fees Cumberland County Register of Wills 580.00
5. Accountant's Fees
6. Tax Return Preparer's Fees Walborn Naugle Shambach Associates CPA 700.00
7. Sentinel (general publication) 166.07
8. Cumberland Law Journal (legal publication) 75.00
9. Additional Death Certificates 25.00
10. James W. Hornbeck, II - Miscellaneous travel and administration expenses 1,644.74
11. Wix, Wenger & Weidner - out of pocket expenses (estimated) 200.00
TOTAL (Also enter on line 9, Recapitulation) $ 14,890.81
(If more space is needed, insert additional sheets of the same size)
REV-1512 EX + (6-98)
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COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Hornbeck. Janet W.
SCHEDULE'
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, & LIENS
Include unreimbursed medical expenses.
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FILE NUMBER
ITEM V LUEATDATE
NUMBER DESCRIPTION OF DEATH
1. AT&T 65.15
3. Messiah Village 2,836.16
4. Phil haven 30.00
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5. Center for Neurological Health 20.67
TOTAL (Also enter on line 10, Recapitulation) $ 2 951.98
(If more space is needed, insert additional sheets of the same size)
REV-151,3 EX + (8-f\n\
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE T /JJ<. RETURN
RESIDENT DECEDENT
ESTATE OF
SCHEDULE J
BENEFICIARIES
II
FILE NUMBER
Hornbp.ck .],:met W,
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
1. TAXABLE DISTRIBUTIONS ~nclude outright spousal distributions, and transfers under
Sec. 9116 (a) (1.2)J
1. James W. Hornbeck, II Lineal 194,239.62
19 W oodridge Road
Durham, NH 03824
2. A. Kathleen Vandenburgh Lineal 194,239.62
3130 Fishing Creek Valley Road
Harrisburg, PA 17112
3. Virginia Lee Andrews Lineal 188,043.63
1714 Dryden Way
Croften, MD 21114 I
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500, OVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1.
TOTAL OF PART II - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $
(If more space is needed, insert additional sheets of the same size)
Wll..L
OF
JANET HORNBECK
I, JANET HORNBECK, of Allegheny County, pennsylvania, decl re
this to be my Will, and I revoke all prior wills and Codicils t at
I have made.
ARTICLE I
All estate and inheritance taxes (including interest
penalties, if any), together with all administration expense ,
payable in any jurisdiction by reason of my death (including tho e
taxes and expenses payable with respect to assets which do not pa s
under this Will) shall be paid out of and charged generally again
the principal of my residuary estate, without apportionment. \I
waive any right of reimbursement for, recovery of, or contributi n
toward the payment of those taxes and administration expenses,
except my executor shall, to maximum extent permitted by law, see
of federal or state estate tax attributable to property in which
reimbursement for, recovery of, or contribution toward the paymen
have a qualifying income interest for life, over which I have
power of appointment, or which is included in my gross estate b~
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reason of Section 2036 of the Internal Revenue Code of 1986, as\
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from time to time amended ("Code"), and which tax is not otherwise\
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paid or payable.
Any generation-skipping tax resulting fro a
transfer occurring under this will shall be charged to the prop rty
constituting the transfer in the manner provided by applicable 1 w.
ARTICLE II
A. I give all the tangible personal property that I own at
my death, including any household furniture and furnishin
automobiles, books, pictures, jewelry, art objects, hobby equipm
and collections, wearing apparel, and other articles of househ
or personal use or ornament, to JAMES W. HORNBECK, if my
is living on the thirtieth day after the date of my death, or, f
my spouse is not then living, to such of my children as are livi 9
on the thirtieth day after the date of my death, in shares
substantially equal value, to be divided in such manner as th
shall agree or, if they shall fail to agree upon a
six months after the date of my death, as my executor shal
determine.
B. All costs of safeguarding, insuring, packing, and stori
my tangible personal property before its distribution and 0
of that item shall be deemed
place of residence of the beneficiar~
to be expenses of administration of m~
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delivering each time to the
estate.
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ARTICLE III
I give all my residuary estate, and any property over whi h I
have a power of appointment, to the acting trustee or trustees of
that certain trust already creat7?J::JY me and known as the HORNB
jd ~tJ~ T.1.:!f'
TRUST DATED the ~ day of J~li~ 1996, as in effect at my death,
which JAMES W. HORNBECK, II is trustee, for the Marital Trust
for any Family Trust established under said trust agreement.
ARTICLE IV
A. I name my husband, JAMES W. HORNBECK as executor of
this Will, or if my husband fails or ceases to act as
executor,! I
or if Jats
I name A~N
name JAMES W. HORNBECK, II as executor of this Will,
W. Hornbeck, II fails or ceases to act as executor,
KATHLEEN VANDENBERG and VIRGINIA LEE ANDREWS as co-executor
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No individual executor under this Will shall be required to furni
bond or other security as executor.
B. If the appointment of an executor of my estate
necessary or desirable in any jurisdiction in which no execut r
herein named is able and willing to act, I direct that the court
competent jurisdiction appoint a bank to serve as executor.
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C. In addition to all powers granted by law, I give
executor power, exercisable in the discretion of my executor
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without court order, to retain, sell (at public or private sa
interest rates then prevailing, from any individual, bank, or ot
exchange, lease for any term (even though commencing in the fu
or extending beyond the date of final distribution of my esta
mortgage, pledge, or otherwise deal for any purpose with
property, real or personal, from time to time comprising my esta
for such consideration and on such terms (with or without securi
as my executor shall determine; to borrow money for any purposet
source, irrespective of whether that lender is then acting as
executor; to invest in any property whatsoever; to compromise: or
abandon any claims in favor of or against my estate; to hold
and warranties binding upon and creating a charge against
property in the name of a nominee or in bearer form; to emplo
accountants, depositaries, attorneys, and agents (with or with
discretionary powers); to execute contracts, notes, conveyanc
and other instruments, including instruments containing covena~ s
estate, and containing provisions excluding personal liability; 0
make distributions wholly in cash or in kind, or partly in each; 0
allot different kinds of disproportionate shares of property r
undivided interests in property among the beneficiaries; and 0
determine the value of any property distributed in kind.
D. I empower my executor (i) to make such elections und r
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elect~qn
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the tax laws as my executor deems advisable, including an
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as in effect at the time the services are rendered.
to create qualified terminable interest property for both est~te
and generation-skipping tax purposes or for estate tax purpo~es
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alone, and (ii) to allocate the unused portion, if any, of my 1ST
exemption (as defined in this paragraph), to any property w th
respect to which I am the transferor for generation-skipping ax
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purposes (irrespective of whether such property passes under t~is
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Will) in such manner as my executor deems advisable, in each c,se
without regard to the relative interests of the beneficiari~s;
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however, my executor shall not make adjustments between princi~al
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and income, or in the interests of the beneficiaries, to compensa~e
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for the effects of such elections and allocation. Any decisiors
made by my executor with respect to the exercise of any tfx
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election or the allocation of my GST exemption shall be binding a~d
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conclusive on all persons. As used in this paragraph, with IIG4T
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exemption" means the exemption from generation-skipping tax allow,d
under Section 2631 of the Code. \
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I direct that the compensation of the corporate executorl,
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if any, shall be in accordance with its published schedule of feef
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My husband and I are at approximately the same time executin9
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These wills ar~
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E.
ARTICLE V
Wills containing similar dispositive provisions.
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not the product of any agreement or contract and my husband sh~ll
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be free to dispose of any property whether acquired under t:p.is
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Will, or otherwise, either during his lifetime, or by will as! he
sees fit.
WITNESS my hand this .:3b'&day of ~ ' 19t6.
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On the date last above written, we saw JANET HORNBECK, in our
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presence, sign the foregoing instrument at its end.
She tlien
declared it to be her will and requested us to act as witnesses Ito
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it. We then, in her presence and in the presence of each othdr,
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signed our names as attesting witnesses, believing her at all ti~es
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herein mentioned to be of sound mind and memory and not actipg
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under constraint of any kind.
WITNESS:
ADDRESS:
~JI',t~
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OAK~N\ PA
~o ~j( l.>ld /J11t:1..u P/l- /6tJ'-Ic"
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ACKNOWLEDGEMENT
COMMONWEALTH OF PENNSYLVANIA S8:
COUNTY OF BUTLER
I, JANET HORNBECK, Testatrix whose name is signed to he
attached or foregoing instrument, having been duly qualified
according to law, do hereby acknowledge that I signed and execu ed
this instrument as my Last Will and Testament: that I signed i
willingly, and that I signed it as my free and voluntary act f r
the purposes therein contained.
Sworn or affirmed to and ackno
named Testatrix, this .3 0 day of
the ab ve
AFFIDAVIT
1:ba.E._~'
~ - Mai &:lm. Bi:Il9r . PdiD
~~~ .1991
COMMONWEALTH OF PENNSYLVANIA S8:
COUNTY OF BUTLER
We, --.-J~~ vJ ~~C<<<. and L.-E
the witnesses whose names are signed to the attached or forego
instrument, being duly qualified according to law, do depose
say that we were present and saw Testatrix sign and execute th
instrument as her Last will and Testament: that she signed it
willingly and that she executed it as her free and voluntary a
for the purposes therein contained; that each of us in the hear
and sight of the Testatrix, signed the will as witnesses; and
the best of our knowledge the Testatrix, was at that time eight
(18) or more years of age, of sound mind and under no constrai
or undue influence.
~kj~
Subscribed an~ sworn to bef named
witnesses, this ~O day of
b:#10:\born-;an.wi1
7
~E.~sB.i
My~~~1
~
III
ING AU
FINANCIAL LIFELINE
July 5, 2005
Denise B. Williamson, Paralegal
Wix, Wenger & Weidner
PO Box 845
Harrisburg, P A 17108-0845
Dear Ms. Williamson,
Re: Account Number 210007797
Janet McLaughlin Hornbeck
We received your letter along with the Letters of Administration for James W. Hornbeck,
II, as Executor of the Estate of Janet W. Hornbeck. There is no beneficiary on this
account. In order that the distribution of funds can be made, you must have Mr. Hornbeck
sign the enclosed claimant's statement, and return it to me along with an original copy of
the death certificate in the enclosed postage-paid envelope.
You requested information on the account. The checking account was opened
November 7, 2003 in the name of Janet McLaughlin Hornbeck and has remained in that
name. The balance as of date of death, plus the accrued interest is $11,651.71.
Please be advised that a legal hold has been placed on the account and although the
proceeds are not accessible, interest is still accruing in the account while the legal hold is
in place. Upon receipt of the paperwork in good order, the above account will be closed
and the funds will be transferred to an !NO Personal Transition Account in the Estate of
Janet W. Hornbeck.
If you have any questions or would like additional information, please call me at 800-
634-0737 ET, Monday through Friday, 8:30 am to 5:00 pm.
Sincerely,
~~m: Mu1J
!NO Financial Lifeline
Customer Service Consultant
Enclosures
ING Financial Lifeline
151 Farmington Ave, TN 11.
Hartford, CT 06156-7381
Phone: 1-800-634-0737
Fax: 1-877-861-5382
Email: FinanciaILifeline(al.us.ing.com
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II
JANET HORNBECK
;REVOCABLE TRUST AGREEMENT
I, JANET HORNBECK, of Allegheny County, Pennsylvania, her~bY
transfer to JANET HORNBECK and JAMES W. HORNBECK, II, as trust e,
.
the property identified in the attached Schedule of Property. T at
property, any property added to the Trust in accordance with
provisions
of
this
instrument,
and
all
investments
he
I.
~nd
Jhe
I
1
I
I
I
I.
reinvestments thereof (IItrust principal") shall be held upon
following terms:
1
I
I
This instrument, as from time to time amended, may Ibe
I
designated the liTHE ~ORNBECK TRUST AGREEMENT NUMBER ONE, DATED ~HE
8th DAY OF JULY, 1996," and th~ initial trust hereby evidenced, las
I
from time to time amehded, may' be designated the liTHE HORNB~CK
\
TRUST AGREEMENT NUMBER ONE, DATED THE 8th DAY OF JULY. 1996, II. \
B. During my life, the trustee may, despite gene~al
fiduciary principles, allow any part or all of the trust income lor
principal to remain uninvested; however, any net income earned \bY
I
the Trust shall be accumulated and added to principal, as from ti~e
I
The Trustee shall distribu~e
I
I
ARTICLE I
A.
to time determined by the trustee.
principal or income to JANET HORNBECK, upon her written request or
for her health, support and maintenance.
II
ARTICLE II
A. If JAMES W. HORNBECK survives me (and for purposes of
I
this instrument if the actual sequence of our deaths cannot readi\lY
be determined, my spouse shall be presumed to have survived mel) ,
, I
the trustee shall, as of the date of my death, set aside out of tpe
trust principal (including property to which the trustee may be
entitled under my will or from any other source) in a separa~e
trust named the Family Trust the largest amount, if any, which, If
I
allocated to the Family Trust, would result in no increase fn
federal estate tax payable at my death by reason of taking into
I
account the unified credit and the credit for state death ta~~s
I
(but only if use of the state death tax credit does not require tn
increase in the state death taxes paid which are computed y
reference to that state death tax credit) allowable to my estat ,
I
but no other credits. The Family Trust shall be administered fS
provided in Article III of this instrument. I
i
I
If my spouse survives me, then as of the date of my
I
,
I
death, but after providing for the allocation, if any, required ~y
'I
paragraph A of this Article, the trustee shall retain the balanbe
I
I
of the trust principal, if any, in a separate trust named for ky
I
\
The trust named for my spouse shall be administered fS
!
B.
spouse.
follows:
1.
I
I
I
Commencing as of the date of my death and during t~e
life of my spouse the trustee shall:
2
(a) Distribute to my spouse the entire net inc~me
I
I
of the trust in convenient installments, at least as frequentlyias
quarter-annually;
interests, and welfare of my spouse, considering all circumstan
ei
(b) Distribute to my spouse as much or all of
principal of the trust at the Trustee, other than my spouse, in
that Trustee's sole discretion, from time to time belie
desirable for the health, support in reasonable comfort, b st
and factors deemed pertinent by the Trustee, other than
(c) Distribute to my spouse as much or all of he
principal of the trust as my spouse from time to time may direct! in
writing but only if my spouse is living on the 179th day after the
date of my death; an~ \
(d) Distribute to such one or more persons who tre
descendants of mine, as much or all of the principal of the trfst
as my spouse from time to time may appoint by signed instrume,ts
delivered to the Trustees during the life of my spoute,
specifically referring to this power of appointment, wh ch
instruments shall be irrevocable unless made revocable by th ir
terms, and in addition, but only if my spouse is living on he
179th day after the date of my death, the Trustees shall, if my
spouse so elects in writing, pay from the principal of the tr st
named for my spouse, directly to my spouse or as my spouse may
3
designate, any federal or state gift tax incurred by reason of the
exercise of this power of appointment.
2. Notwi thstanding any other provision of tj:his
i
instrument, upon the death of my spouse, all income of the t~ust
I
i
'Which is' accrued or undistributed at my spouse's death shall! be
paid to the estate of my spouse.
3. Upon the death of my spouse, the trustee shall [pay
from the remaining principal of the trust, directly to
appropriate governmental authority or authorities or to
i
ithe
i
I
ithe
i
personal representative of my spouse's estate, as the trustee d~ems
i
advisable, without seeking reimbursement or recovery fromiany
i
i
person, the amount by which the estate, inheri tance , and ot~er
i
death taxes (including interest and penalties, if any, ~ut
excluding any generation-skipping tax) payable in any jurisdict!ion
I
, I
by reason of my spouse's death shall be increased as a result! of
i
I
the inclusion of any part of the trust in the gross estate ofl my
i
I
spouse for such tax purposes, as certified in writing by ]the
personal representative of my spouse's estate.
I
4. If my spouse is living on the l79th day after the
i
date of my death, then upon the death of my spouse, such partl or
all of the then remaining principal of the trust and any accrued] or
I
undistributed net income thereof shall be distributed to or for the
I
I
i
benefit of such one or more persons or organizations or the est~te
of my spouse as my spouse
may appoint by will specificalLly
I
appointment. This power may be
referring to this power of
4
exercised by my spouse alone and, except as provided in ttiis
subparagraph, in all events.
5 . Upon the death of my spouse I the then
,
I
remain~ng
net inc
principal of the trust and any accrued or undistributed
thereof not effectively appointed by my spouse under the po
created in subparagraph 4 of this Article shall be added to,
shall thereafter be administered as part of, the principal of
Family Trust under Article IV of this instrument.
C. I recognize that under some circumstances no property Jay
be allocated to the Family Trust pursuant to the formula set fo~th
!
I
I
I
I
I
For the purposes of determining the pecuniary amount Ito
I
I
be allocated to the Family Trust, I direct that: I
Adjustments shall not be made between income Jnd
principal or in determining the pecuniary amount to compensate 10r
the effect of certain tax elections made by my executor or ,he
trustee; ,
,
I
2. None of the provisions of this Article, inCIUd~ng
for example the use of the term "largest," shall be construedlas
requiring any particular exercise or nonexercise of tax electioqsl
I
regardless of their effect on the determination of the pecuni~ry
I
I
I
The pecuniary amount shall be determined assumin~ a
I
federal estate tax marital deduction is allowed for prope4ty
. !
allocated to the trust named for my spouse and shall be 1ncrea~ed
I
r
I
in paragraph A of this Article.
D.
1.
amount; and
3.
5
if and to the extent required by subparagraph 2 of
this Article.
<
I
I
I
paragraph I E of
i
,
I
E. For purposes of funding the Family Trust:
1. Property allocated in kind shall be valued
'fair market value as of the date of its allocation to the
!
I
a~ its
F~milY
Trust; and
2. All property or process of property with respe t to
which the federal estate tax marital deduction would no be
allowable, if distributed outright to my spouse, shall be allo1ated
to the Family Trust. I
I
I
I
I
I
ARTICLE III
If my spouse predeceases me, then as of the date of my d
the trustee shall retain the trust principal (including proper
source) in a separate trust named the Family Trust.
which the trustee may be entitled under my will or from any
Trust created pursuant to the preceding sentence or
pursuant to paragraph A of Article II of this instrument be
administered as follows;
I
\
A. If my spouse survives me, then commencing as of the rate
of my death and during the life of my spouse, the Trustee Srall
distribute to my spouse as much of the net income and principa~ of
the Family Trust, even to the extent of eXhausting the princifal,
as the Trustee believes desirable from time to time for the hea~th,
I
I
support, and reasonable comfort, education, best interest, '[and
I
i
I
'I
I
,
6 '.
II
, .
welfare of my spouse, considering all circumstances and factiors
deemed pertinent by Trustee; provided, however, that:
Any undistributed net income shall be accumuI~ted
i
I
and added to the principal of the Family Trust, as from time! to
I
i
i
i
2. My primary concern during the life of my spouse! is
for the health, support and reasonable comfort, best interest land
welfare of my spouse, and the trustee need not consider ~he
interest of any other beneficiary in making distributions tal my
1.
time determined by'the Trustee;
spouse under this paragraph:
i
\
I
I
Insofar as the Trustee deems it advisable, \ no
I
principal of the Family Trust shall be distributed to my spousel as
I
long as any principal remains in Trust name for my spouse, or\ my
I
I
i
B. Upon the death of the last to die of my spouse and me, Fhe
remaining principal of the Family Trust shall be consolidated w~th
any part of the Trust named for my spouse not affectively appoinfed
by my spouse under the power created in subparagraph 2 of paragrrPh
A of Article III of this Will, and that Trust property shall I be
rhe
3.
spouse has other sufficient sources of income.
retained in separate Trust still named the Family Trust.
Family Trust shall be administered as follows: i
I direct said trust assets shall be distributed!to
I
i
my children, in equal shares. Should any of my children predece+se
me, or fail to take under the terms of this instrument, I dir~ct
,
I
that said child's share in my estate be distributed to th,ir
I
1.
7
III
children, per stirpes, to be held IN TRUST as hereinafter fiet
forth. Should any of my children predecease me, or fail to t~ke
I
under the terms of this instrument, and not leave survi vfng
I
children, I direct that said child's share in this trust estate be
distributed to my dther surviving children, in equal shares.
ARTICLE IV
The provisions of this Article shall apply to each trust hfld
under this instrument: tl
A. If at any time a beneficiary eligible to receive et
income or principal distributions is under legal disability, or in
the opinion of the trustee is incapable of properly managing hislor
her financial affairs, then the trustee may make th~se
distributions directly to the beneficiary, to a lawful guardian I of
I
the beneficiary, or to a custod}an selected by the trustee for the
I
beneficiary under a Uniform Transfer to Minors Act or simi}ar
applicable law, or may otherwise expend the amounts to Ibe
I
distributed for the benefit of the beneficiary in such manner I as
the trustee considers advisable. As used throughout tris
instrument, the term "lawful guardiann shall mean successivelY! in
the order named (i) the court-appointed guardian of the estate,
I
I
(ii) either parent, or (iii) the individual having personal cust~dy
I
(whether or not a court-appointed guardian) where no guardian I of
the estate has been appointed.
8
B. Except as otherwise provided in this instrument, all
income accrued or undistributed at the termination of any inter$st
I
shall be treated as if it had accrued or been received immediat,ly
after that termination.
c. .Among the circumstances and factors to be considered!by
i
the trustee in determining whether to make discretion&ry
I
,
distributions of net income or principal to a beneficiary are ~he
other income and assets known to the trustee to be available Ito
"
I
that beneficiary and the advisability of supplementing such incqme
or assets.
As used throughout this instrument, the t~rm
I
"educationll includes, but is not limited to, private schooling lat
. '
the elementary and secondary school level, college, and speclali~ed
,
i
or vocational traini~g.
D.
Except
as
otherwise
provided
by
law,
no
power
iof
i
appointment or power of withdrawal shall be subject to involunt~ry
I
,
exercise, and no interest of any beneficiary shall be subject Ito
I
anticipation, to claims for alimony or support, to vOluntal,ry
transfer without the written consent of the trustee, or bo
involuntary transfer in any event.
E. Any trust principal or net income as to which a power bf
appointment is exercised shall be distributed to the appointee br
i
appointees upon such conditions and estates, in such manner (~n
trust or otherwise),
with such powers,
in such amounts
,
I
or
!
I
proportions, and at such time or times (but not beyond the peripd
permitted by any applicable rule of law relating to perpetuitie~)
I
9
as the holder of the power may specify in the instrument exerci$ing
I
the' power. In determining whether a testamentary power I of
appointment has been exercised, the trustee may rely on a ~ill
admitted to probate in any jurisdiction as the Will of the hO{der
I
6f the power or may assume the holder left no will in the abs1nce
of actual knowledge of one within three months after the hOldlr's
death. I
I
F. If at any time after my death the trustee shall deter~ine
I
\
that the trust is below $50,000.00 value, or of a size that i1 no
longer economical to administer, the trustee, without fur1her
responsibility, may (but need not) distribute the trust to the
benef iciary for whom the trust is named, or, in the case of Ithe
\
Family Trust, to my spouse. I
G. Notwithstanding any'other provision of this instrum~nt,
at the end of twenty-one years after the death of the last to Idie
of myself, my spouse, and all descendants of mine who are livin~ at
the death of the first to die of my spouse and me, the tru~tee
I
I
shall distribute the principal and all accrued or undistributed \net
I
income of the trust to the beneficiary for whom the trust is na1ed.
H. For purposes of determining who is a descendant of ~ine
I
or of any other person: \
I
1. Legal adoption before the person adopted reached ~he
I
age of twenty-one years shall be the equivalent in all respectsl to
I
I
blood relationship.
I
,
I.
10
III
ARTICLE V
A.
The trustee shall have the following powers with
property transferred to the trustee,
including
ct
to each trust held under this instrument, exercisable in
he
discretion of the trustee:
1. To retain for any period of time without limitati n,
and without liability for loss or depreciation in value,
ny
ip
interests (whether general, special, or limited), even though he
trustee could not property purchase the property as a st
investment and through its retention might violate principles of
investment diversification;
2. To sell at public or private sale, wholly or par
al
for cash or on credit, contract to sell, grant or exercise opti
to buy, convey, transfer, exchange, or lease (for a term within or
extending beyond the term of the trust) any real
property of the trust, and to partition, dedicate, grant easeme
in or over, subdi vide, improve, and remodel, repair,
ze
improvements on any real property of the trust, and in general to
deal otherwise with the trust property in such manner,
ch
prices, and on such terms and conditions as any individual might do
I
I
I
3. To borrow money at interest rates then prevail~ng
from any individual, bank, or other source, irrespective of Whet}er
any such indi vidual or bank is then acting as trustee, and to
as outright owner of the property;
11
II
create securi ty interests in the trust property by mortgage,
pledge, or otherwise.
4.
To invest in bonds, common or preferred stoc~s,
i
estate mortgages, common trust funds I shares \ of
currencies, partnership intere~ts
i
notes,
real
regulated'investment companies,
(whether general, special or limited), or other securities 1 or
,
,
property, real or personal, domestic or foreign, including part~al
\
interests,
such as life estate,
term or remainder
interests,
i
i
wi thout being limited by any statute or rule of law governing
I
investments by trustees;
5. To make allocations, divisions, and distributions', of
,
trust property in cash or in kind, or partly in each; to alloc+te
different kinds or disproportionate shares of property or undi vi4ed
,
interests in property among the beneficiaries
without liability for, or obligation to
or separate trus~s,
,
make compensating
i
,
adjustments by reason of, disproportionate allocations !of
,
unrealized gain for federal income tax purposes: and to determ~ne
I
the value of any property so allocated, divided, or distribute1i
6. To exercise in person or by general or limited prdxy
,
all voting and other rights, powers, and privileges and to take ~ll
steps to realize all benefits with respect to stocks or oth\er
,
securi ties: and to enter into or oppose, alone or with otheJ:js,
,
,
voting trusts, mergers, consolidations, foreclosures, liquidation!s,
reorganizations, or other changes in the financial structure of any
corporation:
12
7. To cause any security or other property to be held,
without disclosure of any fiduciary relationship, in the name of
the trustee, in the name of a nominee, or in unregistered for~;
8. To pay all expenses incurred in the administra~ion
bf the trust, including reasonable compensation to any trustee, ~nd
to employ or appoint and pay reasonable compensation to
accountants,
depositaries,
investment
counsel,
attornevs,
attorneys-in-fact, and agents (with or without discretion~ry
powers) :
9. To deal with the fiduciary or fiduciaries of ~my
other
trust or
estate,
even though the
trustee
is
also
the
i
I
fiduciary or one of the fiduciaries of the other trust or estate;
10. To compromise or abandon any claim in favor of I or
against the trust:
11. To lend money to the personal representative of1my
estate or my spouse's estate, and to purchase property from the
personal representative of either estate and retain it for any
period of time without limitation, and without liability for l~ss
or depreciation in value, notwithstanding any risk, unproducti vi 1I:Y ,
or lack of diversification:
12. To commingle for investment purposes the property of
the trust with the property of any other trust held hereund~r,
other than the trust named for my spouse, allocating to each tr~st
an undivided interest in the commingled property:
13
13. To merge and consolidate at any time after the death
of the last to die of my spouse and me all the trust property wtth
I
i
the trust property of any trust created by my spouse during the
life of my spouse or by Will and held by the same trustee for the
. I
I
benefit of the sam~ persons who are beneficiaries hereunder, u~on
substantially the same terms and conditions as those set fotth
I
I
herein, and thereafter to administer the trust property as a sin1le
I
I
I
14. To receive any property, real or personal, to Ibe
I
added to the trust, from my spouse or me in any event (and, if ~he
I
trustee consents in writing, from any other person) by lifetime lor
I
I
I
15. To execute instruments of any kind, inClUd~ng
instruments containing covenarits and warranties binding upon ~nd
I
creating a charge against the trust property and contain~ng
!
I
trust hereunder;
testamentary transfer or otherwise;
provisions excluding personal liability; and
,
!
16. To perform all other acts necessary for the pro~er
I
management, investment, and distribution of the trust property.!
,
17.
i
To make decisions concerning the rollover of ~ny
\
i
assets held in any pensions, IRA's, or similar accounts.
18.
I
I
As to decisions related to my health care, I here~y
grant the following powers to my trustee:
I
i
a. To authorize or withhold authorization for medic~l
and surgical procedures.
14
b.
. I
To authorize my admission to a medical, nurslqg,
residential or similar facility and to enter i~to
I
I
agreements for my care. i
To arrange for my discharge, transfer from, lor
1
I
change in type of care provided. I
I
To arrange and pay for consultation, diagnosis pr
assessment as may be required for my proper cafe
and treatment. \
B. The powers granted in this Article shall be in additiFn
I
to those granted by law and may be exercised even after terminatirn
of all trusts hereunder until actual distribution of all trurt
principal, but not beyond the period permitted by any applicab~e
I
rule of law relating. to perpetuities. Notwithstanding any othfr
provision of this instrument, upon a written direction from ~y
spouse, the trustee of the trus~ named for my spouse shall ma~e
productive property within a reasonable time. Moreover, no righ~,
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power or discretion granted to the trustee or any other person
c.
d.
property passing to or for the benefit of my spouse from qualifyi g
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1
1
To the extent that such requirements can legally pe
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waived, no trustee hereunder shall ever be required to give bond pr
securi ty as trustee, or to qualify before, be' appointed by, pr
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account to any court, or to obtain the order or approval of apy
.1
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this instrument or by law shall be exercisable, if at all, in a
manner that would prevent the trust named for my spouse or a y
for any federal or state marital deduction.
c.
15
II
court with respect to the exercise of any power or discret~on
granted in this instrument.
D. The trustee's exercise or nonexercise of powers
~nd
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No
discretions in good faith shall be conclusive on .all persons.
, '
person paying money or delivering property to any trustee hereun er
shall be required or privileged to see its application.
certificate of the trustee that the trustee is acting in complia
with this instrument shall fully protect all persons dealing w th
a trustee.
I
E. This instrument and all dispositions hereunder shalllbe
governed by and interpreted in accordance with the laws of rhe
state of Pennsylvania. !
F. The compeI:1sation of a corporate trustee shall be \ in
accordance with its published schedule of fees as in effect at fhe
time the services are rendered. Except with respect to the trfst
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named for my spouse, such compensation may be charged to princital
or to income or partly to each in the discretion of the corportte
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A. Upon my death, JAMES W. HORNBECK, II, shall serve I as
Trustee of this Trust established during my lifetime as hereinafter
set forth. I appoint JAMES W. HORNBECK, II, as Trustee for tny
trust established for my grandchildren under the terms of t~is
I
trustee.
ARTICLE VI
16
tor
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\
instrument.
In the event JAMES W. HORNBECK, II, cannot serve
II
any reason as Trustee of this Trust, the Marital Trust of Fa~ily
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Trust, then my daughters ANN KATHLEEN VANDENBURG OR VIRGINIA iLEE
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I
ANDREWS, in that order, shall serve as Trustee. I appoint JAME~ w.
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HORNBECK, II, as Trustee of any Marital Trust set up under Ithe
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terms of this instrument. I appoint JAMES W. HORNBECK, II, \ to
serve as Trustee of any Family Trust set up under the terms of ~is
instrument. Any Trustee may resign at any time by giving pr~or
written notice to me, if then living, of if I am not then liVi~g,
to the beneficiary or beneficiaries to whom the current trpst
income mayor must then be distributed.
B. Except as otherwise provided in paragraphs D and E\ of
I
this Article, if JAMES W. HORNBECK, II, ceases to act as trusfee
hereunder for any reason, or if any successor trustee appointed\ as
hereinafter provided ceases to act as trustee hereunder for ~ny
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reason, the person or persons indicated in paragraph F of tris
I
Article shall, by written instrument, appoint any person (otrer
than my spouse or a descendant of mine), or any bank or tr~st
company, wi thin or outside the State of pennsyl vania, as\ a
successor trustee.
C. The person or persons indicated in paragraph F of t~is
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Article may at any time, by written instrument, approve the
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accounts of the trustee with the same effect as if the accounts ~ad
I
been approved by a court having jurisdiction of the subject matter
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and of all necessary parties. i
17
II
D. If any corporate trustee designated to act or at any time
acting hereunder is merged with or transfers substantially aIR of
\
its assets to another corporation, or is in any other ma~ner
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reorganized or reincorporated, the resulting or transftree
"corporation shall become trustee in place of its corpotate
E. As often as the trustee shall deem such action
,
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td be
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predecessor.
advantageous to the trusts or to any beneficiary, the trustee ~ay,
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by written instrument, resign and appoint as substitute tru4tee
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with respect to all or any part of the trust principal, incluqing
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!
property as to which the trustee cannot act, any person (other ~han
my spouse or a descendant of mine), or any bank or trust comp~ny,
wi thin or outside the state of Pennsylvania. The substi ~ute
I
trustee shall have all of the'title, powers, and discretion of It he
original trustee, but'shall exe~cise the same under the supervi~ion
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of the resigning trustee, who shall act as adviser to Ithe
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substi tute trustee.
The adviser may at any time remove ithe
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Ithe
,
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substi tute trustee. Upon the removal or resignation of ithe
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substi tute trustee, the adviser may resume the office of truste, or
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may continue to act as adviser and appoint another substi tjute
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substitute
trustee
by
written
instrument
delivered
to
trustee.
Any adviser may receive reasonable compensation
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Ifor
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!
services as an adviser.
F. A successor trustee may be appointed pursuant to
,
paragraph B of this Article and the accounts of the trustee ma~ be
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18
II
approved pursuant to paragraph C of this Article by me, if then
living, or after my death, by my spouse, if then living, or, after
I
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the death of the last to die of my spouse and me, by a majortty in
number of the beneficiaries to whom the current trust income ~ay or
I
must then be distributed. If any person so designated to ~ct is
then under legal disabili ty , the instrument of apPoint:meht or
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approval may be signed by the lawful guardian of such person qn his
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or her behalf. \
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G. The incumbent trustee shall have all of the tli tIe,
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powers, and discretion granted to the original trustee, wifhout
court order or act of transfer. No successor trustee sha~l be
personally liable for any act or failure to act of a predec~ssor
I
trustee. With the approval of the person or persons indicat~d in
i
paragraph F of this Article who may approve the accounts ot the
trustee, a successor trustee may accept the account furnishef, if
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any, and the property delivered by or for a predecessor tr~stee
I
without liability for so doing, and such acceptance shall be a\fuII
and co:mplete discharge to the predecessor trustee increas~ the
I
duties of the trustee or decrease trustee compensation withou~ the
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\
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written consent of the trustee, and if this instrument is
\
completely revoked, all trust property held by the trustee sha~l be
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delivered to me or as I may otherwise direct in writing.
19
II
ARTICLE VII
This Trust is created under, it is governed by, and it ~s to
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be construed and administered to the laws of the statle of
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I
Pennsylvania. I
I now sign this trust agreem;;t on iJr;;, J9~
~ >>'UlJ-: 1l7/YJ ~
J~T HORNBECK i
\
The trusts created by the foregoing instrument are accepted af of
the day and year last above written. ~/7 /OJ /. _f)J.~
BY:~( i7.t. .~A~
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20
II
SCHEDULE OF PROPERTY
I
This schedule is attached to and forms a part of that ~ertain
I
trust agreement executed by and known as THE HORNBECK
\
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TRUST AGREEMENT.NUMBER ONE, DATED THE 8th DAY OF JULY, 1946, and
identifies the initial trust property held subject to thel trust
I
thereunder. \
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Cash............$
21
II
COMMONWEALTH OF PENNSYLVANIA )
) ss:
COUNTY OF BUTLER )
On this the ~v day of ~\~ I A.D. 1996, before me, a
Notary Public, the undersigned~personallY appeared JANET
HORNBECK known .to me (or satisfactor~ly proven) to be the erson
whose name is subscribed to the within instrument and acknow edged
that she executed the same for the purposes therein conta'n d.
IN WITNESS WHEREOF, I hereunto s
EXPIRES:
.
I.'.~
JAMES W. HORNBECK
REVOCABLE TRUST AGREEMENT
I, JAMES W. HORNBECK, of Allegheny County, Pennsylvan.}a,
hereby transfer-to JAMES W. HORNBECK and JAMES W. HORNBECK, II, as
trustee, the property identified in the attached Schedule of
Property.
That property, any property added to the Trust in
accordance with the provisions of this instrument, and all
investments and reinvestments thereof ("trust principal") shall be
held upon the following terms:
ARTICLE I
A. This instrument, as from time to time amended, may be
designated the "THE HORNBECK TRUST AGREEMENT NUMBER ONE, DATED tHE
I
!
8th DAY OF JULY, 1996," and the initial trust hereby evidenced, I as
from time to time amended, may be designated the liTHE HORNB~CK
!
!
TRUST AGREEMENT NUMBER ONE, DATED THE 8th DAY OF JULY, 1996, n.1
I
!
B. During my life, the trustee may, despite gene~al
fiduciary principles, allow any part or all of the trust incomel or
I
principal to remain uninvested; however, any net income earnedl by
the_Trust shall be accumulated and added to principal, as from t~me
to time determined by the trustee. The Trustee shall distribhte
principal or income to JAMES W. HORNBECK, upon his written request
I
..,4
or for his health, support and maintenance.
.. ..
.r
ARTICLE II
A. If JANET HORNBECK survives me (and for purposes of ~is
i
i
instrument if the actual sequence of our deaths cannot readilylbe
I
i
determined, my spouse shall be presumed to have survived me), the
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trustee shall, as of the date of my death, set aside out of the
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trust principal (including property to which the trustee may Ibe
entitled under my will or from any other source) in a separite
trust named the Family Trust the largest amount, if any, which, if
i
allocated to the Family Trust, would result in no increase lin
federal estate tax payable at my death by reason of taking iryto
account the unified credit and the credit for state death ta1es
(but only if use of the state death tax credit does not require an
increase in the state
death taxes paid which are computed by
death tax credit) allowable to my esta1e,
The Family Trust shall be administered las
of this instrument. I
reference to that state
but no other credits.
provided in Article III
B. If my spouse survives me, then as of the date of my
death, but after providing for the allocation, if any, required by
"""
paragraph A of this Article, the trustee shall retain the bala~ce
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of the trust principal, if any, in a separate trust named for Imy
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The trust named for my spouse shall be administered las
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Commencing as of the date of my death and during ~he
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spouse.
follows:
1.
life of my spouse the trustee shall:
2
II
(a) Distribute to my spouse the entire net income
of the trust in convenient installments, at least as frequently as
quarter-annuallYi
(b) Distribute to my spouse as much or all of the
principal of the trust at the Trustee, other than my spouse, in
that Trustee's sole discretion, from time to time believes
desirable for the health, support in reasonable comfort,
I
bEj!st
interests, and welfare of my spouse, considering all circumstan~es
and factors deemed pertinent by the Trustee, other than my spou$ei
(c) Distribute to my spouse as much or all of the
principal of the trust as my spouse from time to time may direct in
I
writing but only if my spouse is living on the 179th day after the
date of my deathi and
(d) Distribute to such one or more persons who are
descendants of mine, as much or all of the principal of the trust
as my spouse from time to time may appoint by signed instrumehts
delivered to the Trustees during the life of my spouse,
specifically referring to this power of appointment, which '.I~'
instruments shall be irrevocable unless made revocable by their
terms, and in addition, but only if my spouse is living on the
179th day after the date of my death, the Trustees shall, if my
spouse so elects in writing, pay from the principal of the trust
named for my spouse, directly to my spouse or as my spouse ma~
3
,
designate, any federal or state gift tax incurred by reason of the
exercise of this power of appointment.
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Notwithstanding any other provision of t~is
I
instrument, upon the death of my spouse, all income of the trfst
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which is accrued or undistributed at my spouse's death shalllbe
I
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Upon the death of my spouse, the trustee shall pay
from the remaining principal of the trust, directly to the
appropriate governmental authority or authorities or to the
personal representative of my spouse's estate, as the trustee detms
advisable, without seeking reimbursement or recovery from ny
person, the amount by which the estate, inheritance, and otter
death taxes (including interest and penalties, if any, tut
excluding any generation-skipping tax) payable in any jurisdict on
I
by reason of my spouse's death shall be increased as a resultlof
the inclusion of any part of the trust in the gross estate oflroy
as certified in writing by tn.e
I
personal representative of my spouse's estate. I
If my spouse is living on the l79th day after the
I
date of my death, then upon the death of my spouse, such part I or
all of the then remaining principal of the trust and any accrued I or
I
undistributed net income thereof shall be distributed to or for the
I
I
benefit of such one or more persons or organizations or the est~te
of my spouse as my spouse may appoint by will specificatlY
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2.
paid to the estate of my spouse.
3.
spouse for such tax purposes,
....C)
4.
referring to this power of appointment.
4
This power may ibe
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..
III
exercised by my spouse alone and, except as provided in this
subparagraph, in all events.
5. Upon the death of my spouse, the then remain;4ng
,
,
principal of the trust and any accrued or undistributed net incdme
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thereof not effectively appointed by my spouse under the pm..ter
created in subparagraph 4 of this Article shall be added to,
~nd
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ti.he
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,
I
shall thereafter be administered as part of, the principal of
Family Trust under Article IV of this instrument.
c. I recognize that under some circumstances no property may
I
I
be allocated to the Family Trust pursuant to the formula set fo~th
in paragraph A of this Article.
D. For the purposes of determining the pecuniary amount to
be allocated to the Family Trust, I direct that:
1. Adjustments shall not be made between income 1nd
principal or in determining the pecuniary amount to compensate
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t;he
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the effect of certain tax elections made by my executor or
trustee;
2. None of the provisions of this Article, including ':"
I
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for example the use of the term "largest," shall be construedlas
requiring any particular exercise or nonexercise of tax electio,s,
I
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regardless of their effect on the determination of the pecuni~ry
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I
amount; and
3.
i
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The pecuniary amount shall be determined assumin~ a
,
federal estate tax marital deduction is allowed for property
I
I
allocated to the trust named for my spouse and shall be increa$ed
5
if and to the extent required by subparagraph 2 of paragraph E of
this Article.
E. For purposes of funding the Family Trust:
I
I
1. Property allocated in kind shall be valued at its
fair market value as of the date of its allocation to the Famtly
Trust; and
2. All property or process of property with respectl to
which the federal estate tax marital deduction would not I be
allowable, if distributed outright to my spouse, shall be alloca~ed
to the Family Trust.
ARTICLE III
I
If my spouse predeceases me, then as of the date of my dea~h,
I
the trustee shall retain the trust principal (including propert~ to
which the trustee may be entitled under my Will or from any other
I
source) in a separate trust named the Family Trust.
I
The Fam!ily
,
I
Trust created pursuant to the preceding sentence or cre~ted
pursuant to paragraph A of Article II of this instrument shall! be
-.r::a
administered as follows;
A. If my spouse survives me, then commencing as of the ~ate
of my death and during the life of my spouse, the Trustee s~all
I
distribute to my spouse as much of the net income and principa~ of
the Family Trust, even to the extent of exhausting the principal,
I
as the Trustee believes desirable from time to time for the hea~th,
support, and reasonable comfort, education, best interest, :and
6
I.
welfare of my spouse, considering all circumstances and factors
deemed pertinent by Trustee; provided, however, that:
1. Any undistributed net income shall be accumulated
and added to the principal of the Family Trust, as from time to
time determined by the Trustee;
2. My primary concern during the life of my spouse is
for the health, support and reasonable comfort, best interest and
!
welfare of my spouse, and the trustee need not consider the
I
interest of any other beneficiary in making distributions to!my
spouse under this paragraph;
3. Insofar as the Trustee deems it advisable, no
principal of the Family Trust shall be distributed to my spouse as
long as any principal remains in Trust name for my spouse, or my
spouse has other sufficient sources of income.
B. Upon the death of the last to die of my spouse and me I the
remaining principal of the Family Trust shall be consolidated with
I
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any part of the Trust named for my spouse not affectively appointed
by my spouse under the power created in subparagraph 2 of paragrijiph . "
I
A of Article III of this Will, and that Trust property shall!be
,
I
retained in separate Trust still named the Family Trust. The
Family Trust shall be administered as follows:
1. I direct said trust assets shall be distributedito
I
my children, in equal shares. Should any of my children predecease
I
I
me, or fail to take under the terms of this instrument, I dir~ct
that said child's share in my estate be distributed to th~ir
7
..
children, per stirpes, to be held IN TRUST as hereinafter set
forth. Should any of my children predecease me, or fail to take
under the terms of this instrument, and not leave surviv~ng
children, I direct that said child's share in this trust estate be
distributed to my other surviving children, in equal shares.
ARTICLE IV
The provisions of this Article shall apply to each trust h~ld
under this instrument:
A. If at any time a beneficiary eligible to receive rilet
income or principal distributions is under legal disability, or in
the opinion of the trustee is incapable of properly managing his or
her financial affairs, then the trustee may make thcpse
distributions directly to the beneficiary, to a lawful guardian of
the beneficiary, or to a custodian selected by the trustee for the
I
beneficiary under a Uniform Transfer to Minors Act or simiiar
applicable law, or may otherwise expend the amounts to be
distributed for the benefit of the beneficiary in such manner as .~"
the trustee considers advisable.
As used throughout this
instrument, the term "lawful guardian" shall mean successively in
the order named (i) the court-appointed guardian of the estate,
(ii) either parent, or (iii) the individual having personal custody
(whether or not a court-appointed guardian) where no guardian:of
the estate has been appointed.
8
B. Except as otherwise provided in this instrument, all
income accrued or undistributed at the termination of any inter$st
shall be treated as if it had accrued or been received immediat1ly
I
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Among the circumstances and factors to be considered!by
I
the trustee in determining whether to make discretion~ry
distributions of net income or principal to a beneficiary are ihe
other income and assets known to the trustee to be available Ito
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that beneficiary and the advisability of supplementing such incQme
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As used throughout this instrument, the trrm
"education" includes, but is not limited to, private schooling!at
I
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the elementary and secondary school level, college, and specialiied
or vocational training. I
after that termination.
c.
or .assets.
D.
Except
as
otherwise
provided
by
law,
I
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I
no power lof
to involunt~ry
I
be subjectlto
I
to vol unt~ry
appointment or power of withdrawal shall be subject
exercise, and no interest of any beneficiary shall
anticipation,
to
claims for
alimony or support,
transfer without the written consent of the trustee, or to ".,c\
involuntary transfer in any event.
E. Any trust principal or net income as to which a power of
appointment is exercised shall be distributed to the appointee or
appointees upon such conditions and estates, in such manner ~in
I
trust or otherwise), with such powers, in such amounts lor
proportions, and at such time or times (but not beyond the perlod
I
i
permitted by any applicable rule of law relating to perpetuiti~s)
9
as the holder of the power may specify in the instrument exercistng
I
I
the power.
In determining whether a testamentary power 'of
I
appointment has been exercised, the trustee may rely on a wtll
I
admitted to probate in any jurisdiction as the will of the hOI~er
I
of the power or may assume the holder left no will in the absefce
of actual knowledge of one within three months after the hOldet's
death. I
F. If at any time after my death the trustee shall determtne
that the trust is below $50,000.00 value, or of a size that iSino
I
longer economical to administer, the trustee, wi thout furt~er
I
responsibili ty, may (but need not) distribute the trust to the
beneficiary for whom the trust is named, or, in the case of the
I
Family Trust, to my spouse. i
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G. Notwithstanding any other provision of this instrumeft,
I
at the end of twenty-one years after the death of the last to rie
of myself, my spouse, and all descendants of mine who are liVinglat
the death of the first to die of my spouse and me, the trustee
I
shall distribute the principal and all accrued or undistributed ~et .~~
income of the trust to the beneficiary for whom the trust is nam~d.
I
H. For purposes of determining who is a descendant of mfne
I
I
or of any other person: i
I
1. Legal adoption before the person adopted reached the
age of twenty-one years shall be the equivalent in all respects to
blood relationship.
10
ARTICLE V
A. The trustee shall have the following powers with resp~ct
I
discretion of the trustee:
exercisable in tt-he
I
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to each trust held under this instrument,
i
1. To retain for any period of time without limitati~n,
!
and without liability for loss or depreciation in value, 4ny
property transferred to the trustee, including partners~iP
I
interests (whether general, special, or limited), even though 1he
i
trustee could not property purchase the property as a tr~st
i
investment and through its retention might violate principles lof
investment diversification;
2. To sell at public or private sale, wholly or par~ly
I
i
for cash or on credit, contract to sell, grant or exercise oPtitns
to buy, convey, transfer, exchange, or lease (for a term within!or
I
extending beyond the term of the trust) any real or perso1j1al
I
property of the trust, and to partition, dedicate, grant easemeJts
I
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in or over, subdivide, improve, and remodel, repair, or r~ze
I
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improvements on any real property of the trust, and in generallto
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or s*ch
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prices, and on such terms and conditions as any individual might I do
I
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,
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To borrow money at interest rates then prevailing
I
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from any individual, bank, or other source, irrespective of whet~er
i
any such indi vidual or bank is then acting as trustee, and I to
I
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'..~
deal otherwise with the trust property in such manner,
as outright owner of the property;
3.
11
create security interests in the trust property by mortgage I
pledge, or otherwise.
4. To invest in bonds, common or preferred stocJjcs,
I
notes, real estate mortgages, common trust funds, shares I of
regulated investment companies, currencies, partnership intere$ts
I
(whether general, special or limited), or other securities lor
I
property, real or personal, domestic or foreign, including parttal
interests,
such as life estate,
I
term or remainder interests,
I
without being limited by any statute or rule of law governing
investments by trustees;
5. To make allocations, divisions, and distributions! of
I
I
trust property in cash or in kind, or partly in each: to allocfte
different kinds or disproportionate shares of property or undivi~ed
i
interests in property among the beneficiaries or separate trusts,
without liability for, or obligation to make compensating
I
I
adjustments by reason of,
disproportionate allocations 'of
I
unrealized gain for federal income tax purposes; and to determ}ne
the value of any property so allocated, divided, or distribute~;
I
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6. To exercise in person or by general or limi ted pr~xy
~.::q
all voting and other rights, powers, and privileges and to take ~ll
I
steps to realize all benefits with respect to stocks or ot1l1er
I
securi ties; and to enter into or oppose I alone or with others,
voting trusts, mergers, consolidations, foreclosures, liquidatioms,
reorganizations, or other changes in the financial structure of <\iny
corporation;
12
7. To cause any security or other property to be held,
without disclosure of any fiduciary relationship, in the namel of
the trustee, in the name of a nominee, or in unregistered for~;
8. To pay all expenses incurred in the administra~ion
of the trust , including reasonable compensation to any trustee, land
to employ or appoint and pay reasonable compensation I to
I
,
accountants,
depositaries,
investment
counsel,
I
attorn~ys,
,
attorneys-in-fact, and agents (with or without discretio~ary
I
powers);
9. To deal with the fiduciary or fiduciaries of any
other trust or estate, even though the trustee is also the
fiduciary or one of the fiduciaries of the other trust or estJte;
10. To compromise or abandon any claim in favor o~ or
against the trust;
11. To lend money to the personal representative at my
estate or my spouse's estate, and to purchase property from the
personal representative of either estate and retain it for any
period of time without limitation, and without liability for loss
I
or depreciation in value, notwithstanding any risk, unproducti vi. ty ,
or lack of diversification;
I
I
12. To commingle for investment purposes the propertly of
I
,
the trust with the property of any other trust held hereunper,
other than the trust named for my spouse, allocating to each ttust
an undivided interest in the commingled property;
13
II
13. To merge and consolidate at any time after the death
of the last to die of my spouse and me all the trust property with
the trust property of any trust created by my spouse during the
life of my spouse or by will and held by the same trustee for the
benefit of the same persons who are beneficiaries hereunder, upon
substantially the same terms and conditions as those set forth
herein, and thereafter to administer the trust property as a si~gle
trust hereunder;
14. To receive any property, real or personal, tQ be
added to the trust, from my spouse or me in any event (and, if the
trustee consents in writing, from any other person) by lifetime or
testamentary transfer or otherwise:
15. To execute instruments of any kind, inclu~ing
instruments containing covenants and warranties binding upon and
creating a charge against the trust property and contai~ing
provisions excluding personal liability: and
16. To perform all other acts necessary for the pr~per
management, investment, and distribution of the trust property.
.~~
,
17. To make decisions concerning the rollover of any
assets held in any pensions, IRA's, or similar accounts.
18. As to decisions related to my health care, I hereby
grant the fOllowing powers to my trustee:
a. To authorize or withhold authorization for medical
and surgical procedures.
14
~ I I t
I'
, \
b. To authorize my admission to a medical, nursing,
residential or similar facility and to enter into
agreements for my care.
c. To arrange for my discharge, transfer fro~, or
change in type of care provided.
d. To arrange and pay for consultation, diagnosts or
assessment as may be required for my properlcare
and treatment.
B. The powers granted in this Article shall be in addttion
I
to those granted by law and may be exercised even after termination
I
of all trusts hereunder until actual distribution of all trust
principal, but not beyond the period permitted by any appli~able
rule of law relating to perpetuities.
I
Notwithstanding any ~ther
provision of this instrum~nt, upon a written direction frqm my
spouse, the trustee of the trust named for my spouse shall make
I
I
producti ve property wi thin a reasonable time. Moreover, no right,
power or discretion granted to the trustee or any other persqn by
!
this instrument or by law shall be exercisable, if at all, in a
manner that would prevent the trust named for my spouse or any.).
,
property passing to or for the benefit of my spouse from qualifying
for any federal or state marital deduction.
c. To the extent that such requirements can legally be
waived, no trustee hereunder shall ever be required to give bond or
securi ty as trustee, or to qualify before, be appointed by!, or
account to any court, or to obtain the order or approval of, any
15
11
" .
" I
"
A
court with respect to the exercise of any power or discretion
granted in this instrument.
D. The trustee's exercise or nonexercise of powers and
discretions in good faith shall be conclusive on all persons.: No
person paying money or delivering property to any trustee h~reu~der
shall be required or privileged to see its application. The
certificate of the trustee that the trustee is acting in compli~nce
with this instrument shall fully protect all persons dealing ~ith
a trustee.
E. This instrument and all dispositions hereunder shall be
governed by and interpreted in accordance with the laws of the
state of Pennsylvania.
F. The compensation of a corporate trustee shall be in
accordance with its published schedule of fees as in effect at! the
time the services are rendered. Except with respect to the ttust
i
named for my spouse, such compensation may be charged to princ~pal
I
or to income or partly to each in the discretion of the corporate
trustee.
-.~
ARTICLE VI
A. Upon my death, JAMES W. HORNBECK, II, shall serve as
Trustee of this Trust established during my lifetime as hereinafter
set forth.
I appoint JAMES W. HORNBECK, II, as Trustee for any
trust established for my grandchildren under the terms of this
instrument. In the event JAMES W. HORNBECK, II, cannot serve!for
16
III
" ,
any reason as Trustee of this Trust, the Marital Trust of Family
I
Trust, then my daughters ANN KATHLEEN VANDENBURG OR VIRGINIA ~EE
ANDREWS, in that order, shall serve as Trustee. I appoint JAMESlw.
I
I
I
HORNBECK, II, as Trustee of any Marital Trust set up under ~he
I
I
terms of this instrument. I appoint JAMES W. HORNBECK, II, I to
serve as Trustee of any Family Trust set up under the terms of t*is
instrument. Any Trustee may resign at any time by giving prior
I
I
written notice to me, if then living, of if I am not then livi*g,
to the beneficiary or beneficiaries to whom the current tr~st
I
I
!
income mayor must then be distributed. i
I
I
B. Except as otherwise provided in paragraphs D and E lof
I
,
this Article, if JAMES W. HORNBECK, II, ceases to act as trustee
I
hereunder for any reason, or if any successor trustee appointed I as
i
I
i
hereinafter provided ceases to act as trustee hereunder for ~ny
I
reason, the person or persons indicated in paragraph F of t~is
I
Article shall, by written instrument, appoint any person (other
I
i
than my spouse or a descendant of mine), or any bank or tr~st
i
company,
within
or
outside
the
State
,
of Pennsylvania, as! a
I
I
I
I
I
I
I
t~is
I
instrument, approve the
successor trustee.
C.
The person or persons indicated in paragraph F of
Article
may
at
any
time,
by
written
,
I
i
accounts of the trustee with the same effect as if the accounts had
I
been approved by a court having jurisdiction of the subject mat~er
I
I
and of all necessary parties.
17
I'
,.'J< ,.
. I, I I I
" I
" ..
D. If any corporate trustee designated to act or at any time
acting hereunder is merged with or transfers substantially all of
its assets to another corporation, or is in any other manner
reorganized or reincorporated, the resulting or transfaree
corporation shall become trustee in place of its corporate
predecessor.
E. As often as the trustee shall deem such action to be
advantageous to the trusts or to any beneficiary, the trustee may,
by written instrument, resign and appoint as substitute trustee
with respect to all or any part of the trust principal, including
property as to which the trustee cannot act, any person (other than
my spouse or a descendant of mine), or any bank or trust company,
within or outside the state of Pennsylvania. The substitute
trustee shall have all of the title, powers, and discretion of the
original trustee, but shall exercise the same under the supervision
of the resigning trustee, who shall act as adviser to the
substi tute trustee. The adviser may at any time remove the
substitute trustee by written instrument delivered to the
substi tute trustee. Upon the removal or resignation of the
substitute trustee, the adviser may resume the office of trustee or
may continue to act as adviser and appoint another substitute
trustee. Any adviser may receive reasonable compensation for
services as an adviser.
F. A successor trustee may be appointed pursuant to
paragraph B of this Article and the accounts of the trustee may be
],.8
'.:l~
r'-" If;1
" t
,I"
r t I
,. I
approved pursuant to paragraph C of this Article by me, if then
living, or after my death, by my spouse, if then living, or, after
the death of the last to die of my spouse and me, by a majority in
number of the beneficiaries to whom the current trust income mayor
must then be distributed. If any person so designated to act is
then under legal disability, the instrument of appointment or
approval may be signed by the lawful guardian of such person on his
or her behalf.
G. The incumbent trustee shall have all of the title,
powers, and discretion granted to the original trustee, without
court order or act of transfer. No successor trustee shall be
personally liable for any act or failure to act of a predecessor
trustee. with the approval of the person or persons indicated in
paragraph F of this Article who may approve the accounts of the
trustee, a successor trustee may accept the account furnished, if
any, and the property delivered by or for a predecessor trustee
without liability for so doing, and such acceptance shall be a full
and complete discharge to the predecessor trustee increase the
duties of the trustee or decrease trustee compensation without the
written consent of the trustee, and if this instrument is
completely revoked, all trust property held by the trustee shall be
delivered to me or as I may otherwise direct in writing.
-A
19
f -., IO\S
.. I) .t
,I I
.. 8
ARTICLE VII
This Trust is created under, it is governed by, and it is to
be construed and administered to the laws of the state of
Pennsylvania.
I now sign this trust agreement on ~~,J~, 19~.
"'Jr ? /. {/ ~
fu~;2> 4. ;~.-;r~C;lf:r
JAME~W. HORNBECK ~
The trusts created by the foregoing instrument are accepted as of
the day and year last above written.
BY:
~ Y/; U~~'. f
~.p .~t'fL
q' . ,
~ .,G
20
p
(~J W
. ." t
I P I
... I \ .
SCHEDULE OF PROPERTY
This schedule is attached to and forms a part of that certain
trust agreement executed by and known as THE HORNBECK
TRUST AGREEMENT NUMBER ONE, DATED THE 8th DAY OF JULY, 1996~ and
identifies the initial trust property held subject to the trust
thereunder.
Cash............$
-:4
21
. ,... lIP
. .) ')
1 r II ,
. ~ II
COMMONWEALTH OF PENNSYLVANIA
ss:
I'
< (.
~ ..:
COUNTY OF BUTLER
On this the J (} day of , A. D. 1996, before me,
a Notary Public, the undersigne icer, personally appeared JAMES
W. HORNBECK, known to me (or s isfactorily proven) to be the
person whose name is subscribed to the within instrument and
acknowledged that he executed the same for the purposes therein
contained.
IN WITNESS WHEREOF, I hereunto s f~l seal.
1b:ItBI__
~~~~;
Mycafl"~~~, 1.
-.l;,
w:
FRX NO. :
Ma~. 27 2005 03:42PM P2
, . " .
01~27-0S 'DATE OF DEATH ACCO~T v: ALYES.,
, " (HORNBECK ESTATE)' , '
, ,
ACCOUNT # 84341251 (JANET HORNBECK TRUST)
SECURITY
CURRENT
V ALliffi
$1,119
HERITAGE MONEY MARKET
CAPITAL WORLD GROWTH & INCOME FUND
$28,182
$25,790
$26,940
GROWTHFUNDpFAMEIDCA
INCOMEFUNDOFAMffiroCA
SUNAMERICA GROWTH & INCOME FUND
SUNAMERICA MULTI CAP VALUE FUND
ALLMERICA ANNUITY POLICY AN00413075
$24,692
$26,636
$49,7 a
~1.374
ALLMERICA ANNUITY POUCY AN00417739
TOTAL
$204,451:
ACCOUNT # 84342246 (JAMES HORNBECK TRUST)
SECURITY
CURRENT
VAL~
$777
HERITAGE MONEY MARKET
CAPITAL INCOME BUILDER
$15,743
FEDERATED PENNSYLVANIA TAX FREE FUND
$12.963 .
$10,804
PENNSYLVANIA IMIT SERIES 151
AMERICAN LEGACY ~TY POLICY 95-5652296
$256.352
TOTAL
$296,639
" ..
OCT-05-2005 18:07
PNCBANK
412 768 3458
P.01
~
o PNCBAN<
October 6, 2005
Wix, Wenger & Weidner
Attn: Denise B Williamson
508 North Second St.
POBox 845
Harrisburg, PA 17108-0845
sep/al
RE: Estate of Janet W Hombeck(Deceased)
SSN: 187-32-4963
DOD: 01-27-2005
Dear Ms. Williamson:
In response to your request for Date of Death balances for the customer noted above, our
records show 1he following:
Certificate of Deposit
Account #31700202499 Established 11-21-2000
JANET HORNBECK TRUST
JANET HORNBECK ITEE
URTAD 7/8/96
DOD balance: $22,238.20 + $114.33 aecrued interest
Account #31300203792 Established 1 I -2 I -2000
JANET HORNBECK TRUST
JANET HORNBECK ITEE
URTAD 7/8/96
DOD balance: $5,559.54 + S28.58 accrued interest
Checking Account
Account #5002025909 Established 07-O1~2004
JANET W HORNBECK TRUST
JANET HORNBECK ITEE
URTAD 7/8/96
DOD balance: $2,317.16 + S0.48 accrued interest
Page 1 of2
... ... [) ..
OCT-05-2005 18:07
PNCBANK
412 768 3458
P.02
p
Savings A.ccount
Account #5003800292 Established 07-01-2004
JANET W HORNBECK TRUST
JANET HORNBECK TIEE
OR T AD 7/8/96
DOD balance: $20,374.68 + $10.98 accrued interest
Please note that this office only provides date of death balances for deposit accounts
(IRAs, CDs, Checking and Savings accounts). We do Dot process any financial
transactions or proYide statements. If you need assistance with any of these items,
please call1-888-PNC-BANK (1-888-762-2265) or stop by your local PNC Bank branch
office.
Sincerely, ..
~J.~
Erica L Schlegel
1-800-762-1775
P7-PFSC-04-F
500 First Ave.
Pittsburgh PAl 5219
Member FDIC
Page 2 of2