HomeMy WebLinkAbout03-30-06
.,
-.J
15056051058
REV-1500 EX (06-05)
PA Department of Revenue '*'
Bureau of Individual Taxes .
PO BOX 280601
Harrisburg, PA 17128-{)601
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death
INHERITANCE TAX RETURN
RESIDENT DECEDENT
OFFICIAL USE ONLY
County Code Year
File Number
~ , <0 Ix:;
'\J~~ '\
Date of Birth
204-18-1178
11/18/2005
06/03/1925
Decedent's Last Name
Suffix
Decedent's First Name
MI
Hutchinson
Mary
E
(If Appncable) Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix
Spouse's First Name
MI
Not Applicable
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
(8) 1. Original Return
c:)
2. Supplemental Return
3. Remainder Return (date of death
prior to 12-13-82)
5. Federal Estate Tax Return Required
c::::>
4. Limited Estate
c::::>
C) 4a. Future Interest Compromise (date of
death after 12-12-82)
(8) 7. Decedent Maintained a Living Trust
(Attach Copy of Trust)
C.) 10. Spousal Poverty Credit (date of death 11. Election to tax under Sec. 9113(A)
between 12-31-91 and 1-1-95) (Attach Sch. 0)
CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
6. Decedent Died Testate
(Attach Copy of Will)
9. Litigation Proceeds Received
o
8. Total Number of Safe Deposit Boxes
C-:J
James E. White, VP & TO
(717) 731-9604
",C'
,
l.c~; .~
Firm Name (If Applicable)
Community Trust Company
First line of address
c:.....
3907 Market Street
-T."J
Second line of address
J..-'
or Post Office
State
ZIP Code
DATE FILED
Camp Hill
PA
17011
Correspondent's e-mail address:jwhite@communitytrustco.com
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief,
it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge.
~~; :E~~L~0;;ILP:l"~~d_d' _Tcvsit2f/;<:'f-- 3i;9/~. 6'_
~~;_rT1~n~y Tr~~t <:;Cll1'lpanY,T!,:!stee, 3907_Market Street, Camp Hill, PA 17011
SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE DATE
ADDRESS
PLEASE USE ORIGINAL FORM ONLY
L
15056051058
Side 1
15056051058
.....J
~
-I
15056052059
REV-1500 EX
Decedent's Name:
Mary
E Hutchinson
RECAPITULATION
1. Real estate (Schedule A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 1.
2. Stocks and Bonds (Schedule B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 2.
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) . . . .. 3.
4. Mortgages & Notes Receivable (Schedule D). . . . . . . . . . . . . . . . . . . . . . . . . . . .. 4.
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) . .
6. Jointly Owned Property (Schedule F) Separate Billing Requested . . 6.
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G) c::::J Separate Billing Requested.. . . . . .. 7.
8. Total Gross Assets (total Lines 1-7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 8.
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).. ... ...... . ................ . .. ... . 11.
12. Net Value of Estate (Line 8 minus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
13. Charitable and Governmental Bequests/See 9113 Trusts for which
an election to tax has not been made (Schedule J) . . . . . . . . . . . . . . . . . . . . . . . . 13.
14. Net Value Subject to Tax (Line 12 minus Line 13) . . . . . . . . . . . . . . . . . . . . . . . . 14.
TAX COMPUTATION - SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
transfers under Sec. 9116
(a)(1.2) X .0 45 190,116.38
16. Amount of Line 14 taxable
at lineal rate X.O_
17. Amount of Line 14 taxable
at sibling rate X .12
18. Amount of Line 14 taxable
at collateral rate X .15
15.
16.
17.
18.
19. TAX DUE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
L
15056052059
Side 2
204-18-1178
Decedent's Social Security Number
5.
0.00
0.00
0.00
0.00
0.00
0.00
196,879.87
196,879.87
6,763.49
0.00
6,763.49
190,116.38
0.00
190,116.38
8,555.23
8,555.23
15056052059
---I
REV-1500 EX Page 3
Decedent's Complete Address:
DECEDENT'S NAME
M~I't__ E Hutchinson
STREET ADDRESS
West Shore Health and Rehabilitation Center
DECEDENT'S SOCIAL SECURITY NUMBER
204-18-1178
----- -- -----.-
770 Poplar Church Road
CITY
Camp Hill
STATE
PA
ZIP
17011
Tax Payments and Credits:
1. Tax Due (Page 2 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
8,555.23
3. InteresUPenalty if applicable
D. Interest
E. Penally
Total Credits ( A + B + C ) (2)
TotallnteresUPenally ( D + E ) (3)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Fill in oval on Page 2, 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.
B. Enter the total of Line 5 + 5A. This is the BALANCE DUE.
(5)
(5A)
(5B)
8,555.23
A. Enter the interest on the tax due.
8,555.23
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOllOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred;.......................................................................................... 00 0
b. retain the right to designate who shall use the property transferred or its income; ............................................ 0 00
c. retain a reversionary interest; or.......................................................................................................................... 0 00
d. receive the promise for life of either payments, benefits or care? ...................................................................... 0 00
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? .............................................................................................................. 0 [i]
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? .............. 0 00
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? ........................................................................................................................ 0 00
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
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 three (3) percent [72 P.S. ~9116 (a) (1.1) (i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent
[72 P.S. ~9116 (a) (1.1) (ii)). The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if 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 younger at death to or for the use of a natural parent, an
adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. ~9116(a)(1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in
72 P.S. ~9116(1.2) [72 P.S. ~9116(a)(1)).
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. ~9116(a)(1.3)]. A sibling is defined, under
Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
!.
THE
HUTCHINSON FAMILY
TRUST
THIS TRUST AGREEMENT is executed in triplicate on this Y' q:.
day of September, 1998, by and between MARY E. HUTCHINSON, now of
1112 Bellevue Avenue, Laureldale, a resident of Berks County,
Pennsylvania (hereinafter called "Settlor") and PENNSYLVANIA
FIDUCIARY AND ESTATE SERVICES, INC., now of 1013 Mumma Road, Suite
202, Lemoyne, Cumberland County, Pennsylvania (hereinafter called
"Trustee") .
ARTICLE I. TRUST ESTATE
1.01. Initial Principal. Settlor, desiring to establish
an irrevocable trust, does hereby irrevocably transfer, assign and
deliver to the Trustee and its successors, and assigns the assets
listed on Schedule A, attached hereto and made a part hereof. As
further evidence of such assignment, the Settlor has executed or
will execute or cause to be executed such other instruments as may
be required for the purposes of completing the assignment or
transfer of title to such property to the Trustee. The Trustee
accepts such transfer and assignment to itself as Trustee, and
undertakes to hold, manage, invest and reinvest the assets of this
Trust, and to distribute the income and principal of the Trust in
accordance with the provisions of this Agreement.
1.02. Additional Principal. The Settlor and any other
person or persons, with the consent of the Trustee, shall have the
right at any time to make additions to the corpus of this Trust or
any share thereof hereby established. All such additions shall be
held, governed, and distributed by the Trustee in accordance with
the terms and conditions of this Agreement. The Trustee, in its
sole discretion, may require, as a prerequisite to accepting
property, that the transferring party provide evidence satisfactory
to the Trustee that (i) the property is not contaminated by any
hazardous or toxic materials or substances; and (ii) the property
is not being used and has never been used for any activities
directly or indirectly involving the generation, use, treatment,
storage, disposal, release or discharge of any hazardous or toxic
materials or substances.
1.03 Disclaimer. The Trustee shall have the right to
disclaim, in whole or in part, prior to its acceptance by the
Trustee, any interests in property for any reason, including but
not limited to a concern that such property could cause potential
liability under any federal, state, or local environmental law.
ARTICLE II. IRREVOCABILITY OF TRUST
2.01. Irrevocabilitv. Settlor has been advised of the
consequences of an irrevocable trust and hereby declares that this
Trust shall be irrevocable and shall not be altered, amended,
revoked, or terminated by Settlor or any other person or persons.
ARTICLE III. LIFE INSURANCE POLICIES
3.01. General Provisions. If any insurance policies are
transferred into this Trust, the Trustee shall be vested with all
right, title, and interest in and to the transferred policies of
insurance, and is authorized and empowered to exercise and enjoy,
for the purposes of the Trust herein created and as absolute owner
of such policies of insurance, all the options, benefits, rights
and privileges under such policies, including the right to borrow
upon and to pledge them for a loan or loans. The Trustee takes all
rights, title, and interest in and to the above stated insurance
policies subject to any prior split-dollar life insurance agreement
and assignments, which may be in effect at the time of transfer.
The insurance companies which have issued policies are hereby
authorized and directed to recognize the Trustee as absolute owner
of such policies of insurance and as fully entitled to all options,
rights, privileges, and interests under such policies, and any
receipts, releases, and. other instruments executed by the Trustee
in connection with such policies shall be binding upon all persons
interested in this Trust. The Settlor hereby relinquishes all
rights, title, interest and powers in such policies of insurance
which Settlor may own and which rights, title, interest and powers
are not assignable, and will, at the request of the Trustee,
execute all other instruments reasonably required to effectuate
this relinquishment.
3.02. Payment of Premiums. The Trustee shall be under no
obligation to pay the premiums which may become due and payable
under the provisions of any policy of insurance which may be
transferred or assigned to this Trust, or to make certain that such
premiums are paid by the transferor of such policy, or to notify
any persons of the nonpayment of such premiums, and the Trustee
shall be under no responsibility or liability of any kind in case
such premiums are not paid, except the Trustee shall apply any
dividends received on such policies to the payment of premiums
thereon. Upon notice at any time during the continuance of this
Trust that the premiums due upon such policies are in default, or
that premiums which will become due will not be paid, either by the
transferor or by any other person, the Trustee, within its sole
discretion, may apply any cash values attributable to such policy
to the purchase of paid-up insurance or of extended insurance, or
may borrow upon such policy for the payment of premiums due
thereon, or may accept the cash values of such policy upon the
policy's forfeiture. In the event that the Trustee receives the
cash value of such policy upon its forfeiture for nonpayment of
premiums, the amount received shall be added to the corpus of this
Trust, and shall be administered according to the terms of this
Agreement. If the insured under such policies of insurance,
becomes totally and permanently disabled within the meaning of any
policies and because thereof the payment of premiums, or any of
them, shall during the pendency of such disability, be waived, the
Trustee, upon receipt of such knowledge, shall promptly notify the
2
I'
insurance company which has issued such policies, and shall take
any and all steps necessary to make such waiver of premium
provision effective.
3.03 . Duties of Trustee With Reqard to Life Insurance
Policies. The Trustee shall be under no obligation or duty
whatever except with respect to the safekeeping of such policies of
insurance and the duty to receive such sums as may be paid to them,
in accordance with the requirements of this Trust, by the companies
issuing such policies, and to hold, manage and disburse such
proceeds subject to the terms of this Agreement. Upon the death of
the insured, the Trustee shall make reasonable efforts to carry out
the provisions of this Agreement, including the maintenance or
defense of any suit, provided, however, the Trustee shall be under
no duty to maintainor enter into any litigation unless its
expenses, including counsel fees and costs, have been advanced or
guaranteed in an amount and in a manner reasonably satisfactory to
the Trustee. The Trustee may repay any advances made by it or
reimburse itself for any such fees and costs from any corpus or
income of this Trust.
ARTICLE IV. TRUST DISTRIBUTIONS
4.01. Trust Principal. The entire corpus of this Trust,
including the assets initially transferred to this Trust,
subsequent additions to this Trust, and the proceeds of any sale,
exchange or investment of such Trust assets, shall be used for the
purposes herein contained.
4.02. Income Distribution. During the Settlor's lifetime,
the Trustee shall distribute all of the net income of the trust to,
or for the benefit of the Settlor, MARY E. HUTCHINSON. The Trustee
shall make no distributions of principal to MARY E. HUTCHINSON.
4.03. Principal Distributions. Upon the death of the
Settlor, MARY E. HUTCHINSON, the Trust shall terminate. Upon
termination of the Trust, the remaining Trust estate shall be
divided into the following shares and amounts for distribution to
each of the following named individuals, with the provision that if
any of the named individuals predecease the termination of this
Trust, the predeceased individual's share shall be distributed,
unless otherwise stated, equally to the predeceased individual's
issue, per stirpes, provided that if any named individual
predeceases the termination of this Trust without leaving issue,
then such predeceased individual's share shall be distributed
equally to the surviving named individuals, per stirpes, according
to the terms and conditions for each individual:
(A) One-third (1/3) of
distributed to the Settlor's
stirpes.
the
son,
Trust estate shall
JOHN N. HUTCHINSON,
be
per
(B) One-third (1/3) of the Trust estate shall be
distributed to the Settlor's son, JEFFREY S. HUTCHINSON, per
stirpes, provided that if JEFFREY S. HUTCHINSON is in the
3
process of obtaining a divorce or is otherwise separated from
his wife, then this share shall be held IN FURTHER SEPARATE
TRUST for his benefit, according to the following terms and
conditions:
(I) The Trustee may pay any and all income and/or
principal of this separate trust to JEFFREY S. HUTCHINSON
for his health, education, support, and maintenance, at
the Trustee's discretion.
(2) The Trustee may, at Trustee's sole discretion,
payor assist in the payment of legal fees for JEFFREY S.
HUTCHINSON but shall in no event pay the legal fees or
assist in the payment of legal fees for any estranged
spouse of JEFFREY S. HUTCHINSON.
(3) This separate Trust shall terminate upon any of
the following: (a) the death of JEFFREY S. HUTCHINSON;
(b) the death of the estranged spouse of JEFFREY S.
HUTCHINSON; (c) a final decree in divorce; or (d) a
receipt by the Trustee of a written release of claim to
Trust assets by the spouse of JEFFREY S. HUTCHINSON.
Upon termination, the remaining Trust assets shall be
distributed to JEFFREY S. HUTCHINSON, per stirpes,
provided that if JEFFREY S. HUTCHINSON is survived by
children, that the money be held by the Trustee of this
Trust until they obtain the age of majority.
(C) One-third (I/3) of the remaining Trust estate shall
be held IN FURTHER TRUST by the current or successor Trustee
of this Trust for the benefit of the children of Settlor's
son, JAMES D. HUTCHINSON, for the following purposes:
(I) To pay any part or all of the income
and/or principal to, or for the benefit of,
the children of JAMES D. HUTCHINSON, or to
accumulate any part or all of the income or
principal, which in the sole discretion of the
Trustee, is determined to be reasonably
necessary for the needs of each child of JAMES
D. ~U~CH!NSON, for ,~oalth, education, support
and maintenance. Any income not so paid shall
be added to the principal of the Trust. To
the extent possible, all payments of principal
or income shall be paid dir~ctly to the third-
party for the benefit of the Beneficiary
rather than directly to the Beneficiary.
(2) Upon the eldest child obtaining the
age of thirty (3D) years, the Trust shall be
divided into separate and equal shares, with
one share for each then-surviving child of
JAMES D. HUTCHINSON. The Trustee shall
distribute to, or for the benefit of, each
child of JAMES D. HUTCHINSON, upon his
4
attaining the age of thirty (30) years, the
principal and accumulated income of his
separate Trust at that time. If any child of
JAMES D. HUTCHINSON predeceases this
distribution, his share shall be distributed
to. the issue of such predeceased child, per
stirpes. If any child of JAMES D. HUTCHINSON
predeceases this distribution without issue,
his share shall be distributed to the
surviving children of JAMES D. HUTCHINSON,
with the provision that any such distribution
shall be made to such surviving children's
separate trust under this instrument, if such
trust is then in existence.
4.04. General Power of Appointment. Settlor's children,
JOHN N. HUTCHINSON and JEFFREY S. HUTCHINSON, or the survivor of
them, are hereby jointly granted the general power to appoint some
or all of the principal of this Trust to themselves and/or their
estates, in such proportions and upon such terms (in trust,
outright gifts, or in any other manner) as they jointly deem
advisable. This power shall not be exercisable under either of
their separate Wills and may only be exercised by written request
to the Trustee. If Settlor's children fail, either in whole or in
part, to exercise this general power of appointment herein granted,
the unappointed principal shall continue in trust and shall be
administered according to the terms of this Trust. Upon the death,
resignation, removal or incapacity of either JOHN N. HUTCHINSON or
JEFFREY S. HUTCHINSON, then the survivor of them shall exercise the
general power of appointment under the terms and conditions of this
provision.
4.05. Broad Special Power of Appointment. MARY E.
HUTCHINSON is are hereby granted the special power to appoint, at
any time and from time to time, the principal of this Trust, in
whole or in part, and in any manner and in such proportions as she
deems advisable to whomever she desires. This power shall be
exercisable by her Will, specifically referring to this special
power of appointment in this paragraph 4.05 of this Trust. This
special power of appointment does not grant to MARY E. HUTCHINSON
the power to appoint the principal of this trust to herself, her
estate, her creditors, or the creditors of her estate. If MARY E.
HUTCHINSON fails, either in whole or in part, to exercise this
special power. of appointment herein granted, the unappointed
principal shall continue in trust and shall be administered
according to the terms of this trust.
ARTICLE V. POWERS OF TRUSTEE
5.01. Manaqement of the Trust.
(A)
have the
purchase,
assets.
Settlor's power to direct investments. Settlor shall
power in a fiduciary capacity to direct the Trustee to
sell, exchange, or otherwise acquire or dispose of
In the case of a variable life insurance or annuity
5
policy, Settlor shall have the power in a fiduciary capacity to
direct the investment of the cash value of the policy among the
investment fund options provided in the policy.
During the Settlor's lifetime, the Trustee shall not exercise
any of the Trustee's powers over these matters without receiving
written directions from the Settlor. Notwithstanding the Settlor's
authority or the Trustee's limitations, contained in this section,
if the Trustee, in the exercise of its fiduciary. duties, is
required (1) to make a discretionary or non-discretionary
distribution to a trust beneficiary, (2) to pay trustee's fees,
(3) to pay any taxes relating to the trust, or (4) to pay any other
costs or disbursements relating to the trust, the Trustee shall
provide the Settlor written notice of such payment and an estimate
of the liquidity requirements, and the Settlor shall have fifteen
(15) calendar days (from the mailing of the notice) to advise the
Trustee which trust assets to liquidate in order to make the
payment and meet the liquidity requirements. If the Settlor does
not provide the advice to the Trustee within the fifteen (15) day
period, then the Trustee is authorized to liquidate those trust
assets which it deems appropriate to meet the liquidity
requirements based on the Uniform Prudent Investor Act contained in
section 5.01 (B) .
During the Settlor's lifetime and unless the foregoing powers
have been relinquished, the Trustee shall have no duty to review
investments or to suggest investments and shall not be liable to
any beneficiary of this trust or any heir of the Settlor for losses
resulting from such investments or from failure to make investments
while the Settlor retains these powers.
Settlor may release his power to control trust investments by
written instrument delivered to the Trustee and may reassume the
power at any time be written instrument delivered to the Trustee.
If Settlor dies or the Trustee received certificates of two state
licensed physicians that Settlor cannot exercise any of these
powers, Settlor shall be deemed to have released the powers and the
Trustee shall have full power to take any such action. Settlor
shall be deemed to have reassumed the powers if the Trustee
receives certificates from two licensed physicians that Settlor has
recovered the ability to exercise the powers.
Settlor acting under this clause shall be deemed to have
waived the doctor-patient privilege to the extent necessary to
implement this clause. Any person may transact business with the
Trustee without inquiring whether the Settlor has directed the
action and without inquiring whether the Settlor has relinquished
or become unable to exercise the power.
(B) Incorporation of Unifonn Prudent Investor Act. The
Trustee shall be subject to the Uniform Prudent Investor Act (the
"UPIA" ) as if the UPIA had been enacted in the Commonwealth of
pennsyl vania in the form promulgated by the Commission on the
Uniform State Laws in its exercise if any power to manage and
invest the assets of the trust.
6
The Settlor desires that the Trustee, consistent with the
standards of the UPIA, continuously assess the appropriate
investment risk tolerance of the trust beneficiaries, and then
invest the trust assets seeking the maximum total return at that
level of risk.
The Settlor believes, consistent with modern portfolio theory,
that the trust total investment return will be determined primarily
by the trust's asset allocation; not market timing or active
management in security selection. The Settlor believes that the
trust should diversify its investments with regard to assets
classes and individual securities to avoid uncompensated risk.
The Settlor does not intend to prohibit the Trustee from
engaging in active management of trust assets where the Trustee
reasonable believes active management can aid in achieving the
desired balance between risk and return.
(C) Creation of Investment Policy Statement. The Settlor
directs that any Trustee other than the Settlor, in managing and
investing the assets of the trust estate, establish, in writing, an
appropriate investment policy statement. The investment policy
statement shall be reviewed and updated at least annually.
(D) Emplovment of Investment Counsel. The Trustee may retain
professional investment counsel of the Trustee's choice; provided,
however, a counsel so selected shall be either registered as an
investment adviser with the U.S. Securities and Exchange Commission
or a state chartered or national bank with fiduciary powers. If
investment counsel is retained, the Trustee shall abide by the
counsel's decision but shall not be held liable or otherwise
surcharged for losses directly attributable to investments made on
the investment counsel's advise. While the Trustee retains
investment counsel, the Trustee shall not be required to review
trust investments or take action on trust investments unless the
Trustee receives written instructions from investment counsel.
The Trustee shall have the power exercisable in the Trustee's
discretion to discharge such investment counsel and to employ other
counselor to administer the trust without such counsel.
Consistent with the standards of the UPIA, the Trustee shall have
the responsibility to prudently select any investment counsel, to
periodically review the performance of any investment counsel and
to take appropriate action if apprised of facts clearly indicating
that counsel is not performing competently.
(E) Nonliabilitv of Settlor for Directed Investments. The
Settlor shall not be liable to any beneficiary or to any heir for
the Settlor's acts or failure to act, except for willful misconduct
or gross negligence, in directing the investments of the trust.
5.02. General Powers. In addition to such other powers
and duties as may have been granted elsewhere in this Trust, but
subject to any limitations contained elsewhere in this Trust, the
Trustee shall have the following powers and duties:
7
A. In the management, care and disposition of this Trust, the
Trustee shall have the power to do all things and to execute such
deeds, instruments, and other documents as may be deemed necessary
and proper, including the following powers, all of which may be
exercised without order of or report to any court:
(1) To sell, exchange, or otherwise dispose of any
property, real, personal or mixed, wheresoever located,
at any time held or acquired hereunder, at public or
private sale, for cash or on terms as may be determined
by the Trustee, without advertisement, including the
right to lease for any tenn notwithstanding the period of
the Trust, and to grant options, including an option for
a period beyond the duration of the Trust.
(2) To invest and reinvest all or any part of the
Trust Estate in any common or preferred stocks, shares of
investment trusts and investment companies, bonds,
debentures, mortgages, deeds of trust, mortgage
participations, notes, real estate, or other property the
Trustee, in the Trustee's discretion, selects; provided
that the Trustee may not invest in any stock or
securities issued by the corporate Trustee or issued by
a parent or affiliate company of such Trustee; in the
manner that, under the circumstances then prevailing
(specifically including, but not limited to, the general
economic conditions and the anticipated needs of the
Trust and its benefiCiaries), persons of skill, prudence,
and diligence, acting in a similar capacity and familiar
with those matters would use in the conduct of an
enterprise of similar character and similar aims, to
attain the Settlor's goals under this trust agreement.
(3) To retain for investment any property deposited
with the Trustee hereunder.
(4) To vote in person or by proxy any corporate
stock or other security and to agree to or take any other
action in regard to any reorganization, merger,
consolidation, liquidation, bankruptcy or other procedure
or proceedings affecting any stock, bond, note or other
security held by this Trust.
(5) To use lawyers, real estate brokers,
accountants and any other agents, if such employment is
deemed necessary or desirable, and to pay reasonable
compensation for their services.
(6) To compromise, settle or adjust any claim or
demand by or against the Trust and to agree to any
rescission or modification of any contact or agreement
affecting the Trust.
(7) To renew any indebtedness, as well as to borrow
money, and to secure the same by mortgaging, pledging or
8
conveying any property of the Trust, including the power
to borrow from the Trustee (in the Trustee's individual
capacity) at a reasonable rate of interest.
(8) To retain any business interest transferred to
the trustee, as shareholder, security holder, creditor,
partner or otherwise, for any period of time whatsoever,
even though the interest may constitute all or a large
portion of the trust principal; to comply with the
provisions of any agreement restricting transfer of the
interest; to participate in the conduct of the related
business or rely upon others to do so, and to take or
delegate to others discretionary power to take any action
with respect to its management and affairs which an
individual could take as outright owner of the business
or the business interest, including the voting of stock
(by separate trust or otherwise regardless of whether
that separate trust will extend for a term within or
beyond the term of the trust) and the determination of
all questions of policy; to execute and amend partnership
agreements; to participate in any incorporation,
reorganization, merger, consolidation, sale of assets,
recapitalization, liquidation or dissolution of the
business, or any change in its nature, or in any buy-
sell, stock restriction, or stock redemption agreements;
to invest in additional stock or securities of, or make
secured, unsecured, or subordinated loans to, the
business with trust funds; to take all appropriate
actions to prevent, identify, or respond to actual or
threatened violations of any environmental law or
regulation thereunder; to elect or employ with
compensation, as directors, officers, employees, or
agents of the business, any persons, including a trustee
of any trust held under this instrument, or any director,
officer, employee, or agent of a corporate trustee of
any trust held under this instrument, without adversely
affecting the compensation to which that trustee would
otherwise be entitled; to rely upon reports of certified
public accountants as to the operations and financial
condi tion of the business, without independent
investigation; to deal with and act for the business in
any capacity (including in the case of a corporate
trustee any banking or trust capacity and the loaning of
money out of the trustee's own funds) and to be
compensated therefor; and to sell or liquidate the
business or any interest in the business.
(9) To register any stock, bond or other security
in the name of a nominee, without the addition of words
indicating that such security is held in a fiduciary
capacity, but accurate records shall be maintained
Showing that the stock, bond or other security is a trust
asset and the Trustee shall be responsible for the acts
of the nominee.
9
(10) To set aside as a separate trust, to be held
and administered upon the same terms as those governing
the remaining trust property, any interests in property,
for any reason, including but not limited to a concern
that such property could cause potential liability under
any federal, state, or local environmental law.
B. Whenever the Trustee is directed to distribute any trust
principal in fee simple to a person who is then under twenty-one
(21) years of age, the Trustee shall be authorized to hold such
property in trust for such person until he becomes twenty-one (21)
years of age, and in the meantime shall use such part of the income
and the principal of the trust as the Trustee may deem necessary to
provide for the proper support and education of such person in the
standard of living to which he has become accustomed. If such
person should die before becoming twenty-one (21) years of age, the
property then remaining in trust shall be distributed to the
personal representative of such person's estate.
c. In making distributions from the Trust to or for the
benefit of any minor or.other person under a legal disability, the
Trustee need not require the appointment of a guardian, but shall
be authorized to payor deliver the distribution to the custodian
of such person, to payor deliver the distribution to such person
wi thout the intervention of a guardian, to payor deliver the
distribution to the legal guardian of such person if a guardian has
already been appointed, or to use the distribution for the benefit
of such person.
D. In the distribution of the Trust and any division into
separate trusts and shares, the Trustee shall be authorized to make
the distribution and division in money or in kind or in both,
regardless of the basis for income tax purposes of any property
distributed or divided in kind, and the distribution and division
made and the values established by the Trustee shall be binding and
conclusive on all persons taking hereunder. The Trustee may in
making such distribution or division allot undivided interests in
the same property to several trusts or shares.
E. If at any time after Settlor's death the total fair market
value of the assets of any trust established or to be established
hereunder is so small that the corporate Trustee's annual fee for
administering the trust would be equal to or less that the minimum
annual fee set forth in the Trustee's regularly published fee
schedule, then the Trustee in its discretion shall be authorized to
terminate such trust or to decide not to establish such trust, and
in such event the property then held in or to be distributed to
such trust shall be distributed to the persons who are then or
would be entitled to the income of such trust. If the amount of
income to be received by such persons is to be determined in the
discretion of the Trustee, then the Trustee shall distribute the
property among such of the persons to whom the Trustee is
authorized to distribute income, and in such proportions, as the
Trustee in its discretion shall determine.
10
F. The Trustee shall have discretion to determine whether
items should be charged or credited to income or principal or
allocated between income and principal as the Trustee may deem
equitable and fair under all the circumstances, including the power
to amortize or fail to amortize any part or all of any premium or
discount, to.treat any part or all of the profit resulting from the
maturity or sale of any asset, whether purchased at a premium or at
a discount, as income or principal or apportion the same between
income and principal, to apportion the sales price of any asset
between income and principal, to treat any dividend or other
distribution on any investment as income or principal or to
apportion the same between income or principal, to charge any
expense against income or principal or apportion the same, and to
provide or fail to provide a reasonable reserve against
depreciation or obsolescence on any asset subject to depreciation
or obsolescence, all as the Trustee may reasonably deem equitable
and just under all of the circumstances.
5.03. Votinq bv Trustee. When the authority and power
under this Trust is vested in two (2) or more Trustees or Co-
Trustees, the authority and powers are to be jointly by the
Trustees or Co-Trustees. A majority of the Trustees or Co-Trustees
may exercise any authority or power granted under this Trust
Agreement or granted by law, and may act on behalf of the Trust.
Any attempt by one such Trustee to act for the Trust on other than
ministerial acts shall be void. The action of one such Trustee on
behalf of the Trust may be (but need not be) validated by a
subsequent ratification of the act by a majority of the Trustees or
Co-Trustees.
5.04. Trustees Power to Deal with Environmental Hazards.
The Trustee shall have the power to use and expend the trust income
and principal to (i) conduct environmental assessments, audits, and
site monitoring to determine compliance with any environmental law
or regulation thereunder; (ii) take all appropriate remedial action
to contain, clean up or remove any environmental hazard including
a spill, release, discharge or contamination, either on its own
accord or in response to an actual or threatened violation of any
environmental law or regulation thereunder; (iii) institute legal
proceedings concerning environmental hazards or contest or settle
legal proceedings brought by any local, state, or federal agency
concerned with environmental compliance, or by a private litigant;
(iv) comply with any local, state or federal agency order or court
order directing an assessment, abatement or cleanup of any
environmental hazards; and (v) employ agents, consultants and legal
counsel to assist or perform the above undertakings or actions.
Any expenses incurred by the trustee under this paragraph may be
charged against income or principal as the trustee shall determine.
ARTICLE VI. SPENDTHRIFT PROVISION
6.0~. General Provision. No beneficiary shall have the
power to anticipate, encumber or transfer his interest in the Trust
Estate in any manner other than by the valid exercise of a Power of
Appointment. No part of the Trust Estate shall be liable for or
11
charged with any debts, contracts, liabilities or torts of a
beneficiary or subject to seizure or other process by any creditor
of a beneficiary.
ARTICLE VII. CONSTRUCTION OF TRUST
7.01. Choice of Law. This Trust shall be administered and
interpreted in accordance with the laws of the Connnonwealth of
Pennsylvania.
7.02. Code. Unless otherwise stated, all references in
this Trust to section and chapter numbers are to those of the
Internal Revenue Code of 1986, as amended, or corresponding
provisions of any subsequent federal tax laws applicable to this
Trust.
7.03. Other Tenns. Unless the context otherwise requires,
the use of one or more genders in the text includes all other
genders, and the use of either the singular or the plural in the
text includes both the singular and the plural.
7.04. Captions. The captions set forth in this Agreement
at the beginning of the various divisions hereof are for
convenience of reference only and shall not be deemed to define or
limit the provisions hereof or to affect in any way their
construction and application.
7.05. Si tus of Trust. The Trust shall have its legal
situs in Cumberland County, Pennsylvania.
ARTICLE VIII.
COMPENSATION OF TRUSTEE AND
APPOINTMENT OF SUCCESSOR TRUSTEE
8.01. Compensation. The Trustee shall receive as its
compensation for the services performed hereunder that sum of
money, based on an hourly charge or percentage rate, which the
Trustee normally and customarily charges for performing similar
services during the time which it performs these services.
8.02. Removal of Trustee. Settlor may remove the Trustee,
at any time or times, with or without cause, upon thirty (30) days
written notice given to the current Trustee. Upon the death of the
Set tlor , a rnaj ori ty . of the current beneficiaries may remove the
Trustee, at any time or times, with or without cause, upon thirty
(30) days written notice given to the Trustee. Upon the removal of
the Trustee, a successor Trustee shall be appointed in accordance
with the terms set forth in Paragraph 8.03.
8.03. Appointment of Successor Trustee. The Trustee may
resign at any time upon thirty (30) days written notice given to
the Settlor if Settlor is living, or in the event of Settlor's
death, upon thirty (30) days written notice given to the current
beneficiary or beneficiaries (including a beneficiary's natural or
legal guardian or legal representative), hereunder. Upon the
12
death, resignation, removal or incapacity of the Trustee, a
successor trustee may be appointed by the Settlor during Settlor's
lifetime, or, after Settlor's death, by a majority of the current
income beneficiaries. Any successor trustee thus appointed, or, if
the Trustee shall merge with or be consolidated with another
corporate "fiduciary, then such corporate fiduciary, shall Succeed
to all the duties and to all the powers, including discretionary
powers, herein granted to the Trustee.
8.04 Exoneration of Trustee. No Trustee shall be liable
for any loss or depreciation in value sustained by the Trust as a
result of the Trustee retaining any property upon which there is
later discovered to by hazardous materials or substances requiring
remedial action pursuant to any federal, state, or local
environmental law, unless the Trustee contributed to the loss or
depreciation in value through willful default, willful misconduct,
or gross negligence.
8.05 Indemnification of Trustee Upon Distribution.
Notwithstanding any contrary provision in this Trust Agreement, the
Trustee may withhold .a distribution to a beneficiary until
receiving from the beneficiary an indemnification an agreement in
which the beneficiary agrees to indemnify the Trustee against any
claims filed against the Trustee as an "owner" or "operator" under
the Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as from time to time amended, or any
regulation thereunder.
ARTICLE IX. PERPETUITIES CLAUSE
9.01. General Provision. Notwithstanding anything to the
contrary in this Trust, each disposition I have made here, legal or
equitable, to the extent it can be referred in its postponement of
becoming a vested interest to a duration measured by some life or
lives in being at the time of my death is definitely to vest in
interest, although not necessarily in possession, not later that
twenty-one (21) years after such lives (and any period of gestation
involved); or, to the extent it cannot be referred in any such
postponement to such lives, is to so vest not later than twenty-one
(21) years from the time of my death.
ARTICLE X.
ACQUISITION OF UNITED STATES TREASURY BONDS
ELIGIBLE FOR TAX PAYMENT; PAYMENT OF TAXES, FUNERAL
EXPENSES, AND EXPENSES OF ADMINISTRATION
10.01. Acauisi tioD of Bonds. The Trustee may, at any time,
without the prior approval or direction of the Settlor and whether
or not the Settlor is able to manage Settlor's own affairs, acquire
United States Treasury Bonds selling at a discount, which bonds are
redeemable at their par value plus accrued interest thereon for the
purposes of applying the proceeds to the paYment of the United
States estate tax on the Settlor's estate; and the Trustee may
borrow from any lender, including itself, with or without security,
to so acquire these bonds.
13
10.02. Payment of United States Estate Tax bv Bond
Redemption. The Settlor directs that any United States Treasury
Bonds which may be redeemed at their par value plus accrued
interest thereon for the purpose of applying the proceeds to the
payment of the United-States estate tax imposed on the Settlor's
estate, and which are held by the Trustee, shall, to the extent of
the amount determined to be required for payment of the estate tax,
be distributed to the legal representative of the Settlor's estate
to be used by the legal representative ahead of any other assets
and to the fullest extent possible to pay the estate tax.
10.03. Payment of Death Taxes and Other Estate Settlement
Costs. After the Trustee has complied with paragraph 10.02, above,
and ascertained from the legal representative that all such bonds
have been redeemed in payment of the United States estate tax, the
Trustee shall also ascertain from the legal representative whether
the legal representative has sufficient assets to pay the remaining
legacy, succession, inheritance, transfer, estate and other death
taxes or duties (except the additional estate tax imposed by
Section 2032 (c), or corresponding provisions of the Internal
Revenue Code of 1986 applicable to the Settlor's estate and
imposing the tax) levied or assessed against the Settlor's estate
(including all interest and penalties thereon), all of which taxes,
interest and penalties are hereafter referred to as the death
taxes, interest and penalties. If the legal representative advises
the Trustee that insufficient funds exist to pay all the death
taxes, interest and penalties, the Trustee shall then pay to the
legal representative from the trust property, an amount equal to
all the death taxes, interest and penalties in excess of the funds
available to the legal representative for this purposes, which
payments are to be made without apportionment. In making the
payments, the Trustee shall use only those assets or their proceeds
which are includable in the Settlor's gross estate for purposes of
the United States estate tax and shall not impair the marital
portion without first exhausting the entire non-marital portion.
If the Executor of the Settlor's estate, in such Executor's
sole discretion, shall determine that appropriate assets of
Settlor's estate are not available in sufficient amount to pay (1)
the Settlor's funeral expenses, and (2) expenses of administering
the Settlor's estate, the Trustee shall, upon the request of the
Executor of the Settlor's estate, contribute from the principal of
the trust estate the amount of such deficiency; and in connection
with any such action the Trustee shall rely upon the written
statement of the Executor of the Settlor's estate as to the
validity and correctness of the amounts of any such expenses, and
shall furnish funds to such Executor so as to enable such Executor
to discharge the same, or to discharge any part of all thereof
itself by making payment directly to the person entitled or
claiming to be entitled to receive payment thereof. No
consideration need be required by the Trustee from the Executor of
Settlor's estate for any disbursement made by the Trustee pursuant
hereto, nor shall there be any obligation upon such Executor to
repay to the Trustee any of the funds disbursed by it hereunder,
and all amounts disbursed by the Trustee pursuant to the authority
14
hereby conferred upon it shall be disbursed without any right in or
duty upon the Trustee to seek or obtain contribution or
reimbursement from any person or property on account of such
paYment. The Trustee shall not be responsible for the application
of any funds. delivered by it to the Executor of the Settlor's
estate pursuant to the authority herein granted, nor shall the
Trustee be subject to liability to any beneficiary hereunder on
account of any paYment made by it pursuant to the provisions
hereof.
the Settlor and Trustee have hereunto set
of the day and year first above written.
~;').4.r~OR (SEAL)
{ uVL----
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF CUMBERLAND
On this, the ~day of September, 1998, before me, a Notary
Public, the undersigned officer, personally appeared MARY E.
HUTCHINSON, known to me (or satisfactorily proven) to be the person
whose name is subscribed to the within Trust Agreement, and
acknowledged that she executed the same for the purposes therein
contained.
SS:
IN WITNESS WHEREOF, I have set my hand and official Seal.
~11~;(, ~.1~ UkA~
~ary Public
Mr- CUllllll.i"'i:>..i.on Exp:t-res-:
Notaric:l Seal I
Janet C. Nacleno. f\!otarv Public
I Lemoyne Bora, Cumteriand County
, My Comr,lission Expire!:: April' 9. : ,..~CJ I .
{'.:2fr...;.:;r. i-(;~ns."':Vc~;a.~-:;:"=-.'~~7-~_: ~~l
The foregoing Trust Agreement was delivered, and is hereby
accepted, at Lemoyne, Pennsylvania, on September //~ 1998.
ATTEST:
~#I/~
PENNSYLVANIA FIDUCIARY AND
SERVICES, INC., TRUSTEE
~~/LlAu/
I RLY -~LER,
S IOR VICE-PRESIDENT AND TRUST
MANAGER
15
SCHEDULE HAlf
SCHEDULE
REFERRED TO IN THE ANNEXED
TRUST AGREEMENT
DATED: SEPTEMBER ~, 1998
FROM MARY E. HUTCHINSON, SETTLOR
TO PENNSYLVANIA FIDUCIARY AND
ESTATE SERVICES, INC., TRUSTEE
-----------------------------------------------------------------
PROPERTY DESCRIPTION:
16
REV-1502 EX+ (6-9.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE A
REAL ESTATE
ESTATE OF
Mary E. Hutchinson
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, neRher being compelled to buy or sell, both having reasonable knowledge of the relevant facts.
Real property which Is jointly-owned with right of survivorship must be disclosed on Schedule F.
FILE NUMBER
ITEM
NUMBER
1.
DESCRIPTION
VALUE AT DATE
OF DEATH
TOTAL (Also enter on line 1, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
0.00
REV-1503 EX+ (6-98*
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE B
STOCKS & BONDS
ESTATE OF
Mary E. Hutchinson
FILE NUMBER
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM
NUMBER
1.
DESCRIPTION
VALUE AT DATE
OF DEATH
TOTAL (Also enter on line 2, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
0.00
REV-1504 EX+ (6-9S*
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE C
CLOSELY-HELD CORPORATION,
PARTNERSHIP OR
SOLE-PROPRIETORSHIP
ESTATE OF
Mary E. Hutchinson
Schedule C-1 or C-2 (including all supporting information) must be attached for each closely-held corporation/partnership interest of the decedent, other than a
sole-proprietorship. See instructions for the supporting information to be submitted for sole-proprietorships.
FILE NUMBER
ITEM NUMBER
NUMBER
1.
DESCRIPTION
VALUE AT DATE
OF DEATH
TOTAL (Also enter on line 3, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
0.00
. '
,
REV-1507 EX+ (6-98) '*
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE D
MORTGAGES & NOTES
RECEIVABLE
ESTATE OF
Mary E. Hutchinson
FILE NUMBER
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM
NUMBER
DESCRIPTION
VALUE AT DATE
OF DEATH
TOTAL (Also enter on line 4, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
0.00
. '
,
REV-150B EX+ (6-9B) .
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
ESTATE OF
Mary E. Hutchinson
FILE NUMBER
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM
NUMBER
DESCRIPTION
VALUE AT DATE
OF DEATH
TOTAL (Also enter on line 5, Recapitulation) $
(If more space is needed. insert additional sheets of the same size)
0.00
. ~
REV-1509 EX+ (6-9S.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE F
JOINTLY-OWNED PROPERTY
ESTATE OF
Mary E. Hutchinson
FILE NUMBER
If an asset was made joint within one year of the decedent's date of death, it must be reported on Schedule G.
SURVIVING JOINT TENANT(S) NAME
ADDRESS
RELATIONSHIP TO DECEDENT
A.
B.
C.
JOINTLY.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 DECD'S VAlUE OF
NUMBER TENANT JOINT IDENTIFYING NUMBER ATTACH DEED FOR JOINTLY-HELD REAL ESTATE. VALUE OF ASSET INTEREST DECEDENT'S INTEREST
1. A.
.
TOTAL (Also enter on line 6, Recapitulation) $ 0.00
(If more space is needed, insert additional sheets of the same size)
. t ,
REV-1510 EX+ (6-98*
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
ESTATE OF
Mary E. Hutchinson
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 yes.
FILE NUMBER
DESCRIPTION OF PROPERTY
ITEM INCLUDE THE NAME OF THE TRANSFEREE, THEIR RELATIONSHIP TO DECEDENT AND DATE OF DEATH % OF DECD'S EXCLUSION TAXABLE
NUMBER THE DATE OF TRANSFER. ATTACH A COpy OF THE DEED FOR REAL ESTATE. VALUE OF ASSET INTEREST (IF APPLICABLE) VALUE
1. Hutchinson Family Irrevocable Trust at Community Trust Company
that contained the following assets:
A. American Skandia Annuity # 000276824 41,323.13 100 41,323.13
B. American Skandia Annuity # 000276826 11,931.02 100 11,931.02
C. ING I Golden Select Variable Annuity # 0054704X 143,498.68 100 143,498.68
D. Federated Government Obligations Fund # 395 126.95 100 126.95
E. Accrued Interest on Item D above 0.09 0.09
TOTAL (Also enter on line 7 Recapitulation) $ 196,879.87
(If more space is needed, insert additional sheets of the same size)
.
.
RPFlLE3C #4.01
Account: 2100222 HUTCHINSON FAMILY IRREV TR
CUSIP Asset
Number Type Asset Name
990276824
740 AMERICAN SKANDIA
ANNUITY #000276824
ANNUITY #000276824
740 AMERICAN SKANDIA
ANNUITY #000276826
ANNUITY #000276826
740 ING/GOLDEN SELECT
ES II VARIABLE
ANNUITY #0054740X
990276826
99G54740X
Trust Holdings Ledger
COMMUNITY TRUST COMPANY
Trust Type: 210
Rate or
Yield
0.00000000
0.00000000
0.00000000
Report backdated to 11/18/05
Income and Principal Cash
are invested in FEDERATED GOV'T OBLIGATIONS FD #395
126.95 Total Cash
3.000000 Total Units
3 tax lot(s) printed on 03/27/06 at 09:49 by JEW from f:\tnet\
Opened: 09/08/98
Maturity
Date
Separate I/P Tax Lot
Book
Units Value
1.000000
1. 000000
1.000000
Investment Balance
Income Cash Balance
Principal Cash Balance
Total Assets
32,491.97
7,723.48
143,123.42
183,338.87
126.95
0.00
183,465.82
TNET vl.98 PAGE 1
03/27/2006
Officer: 04
Market
Value
41,323.13
11 ,931. 02
143,498.68
196,752.83
126.95
0.00
196,879.78
: ( " t
REV-1511 EX+ (12-99.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
ESTATE OF
Mary E. Hutchinson
FILE NUMBER
Debts of decedent must be reported on Schedule 1.
ITEM
NUMBER
A.
DESCRIPTION
AMOUNT
1.
FUNERAL EXPENSES:
Neill Funeral Home, 3401 Market Street, Camp Hill, PA 17011-4428
2,763.10
B. ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
Name of Personal Representative(s)
Social Security Number(s)/EIN Number of Personal Representative(s)
Street Address
City
State
Zip
Year(s) Commission Paid:
2. Attorney Fees
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
5. Accountant's Fees
6. Tax Return Preparer's Fees 275.00
7. Trustee's Fee for month ending 11/30/05 233.98
8. Trustee's Fee for month ending 12/31/05 234.38
9. Trustee's Fee for month ending 1/31/06 235.09
10. Trustee's Fee for month ending 2/28/06 227.26
11. Trust Termination Fee 2,794.68
TOTAL (Also enter on line 9, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
6,763.49
: 1, " ~
REV-1512 EX+ (12-03)
'*
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, & LIENS
COMMONWEAlTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Mary E. Hutchinson
Report debts incurred by the decedent prior to death which remained unpaid as of the date of death, including unreimbursed medical expenses.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
FILE NUMBER
1.
TOTAL (Also enter on line 10, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
0.00
.. f , It
REV-1513 EX+ (9-00)
'*
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Mary E. Hutchinson
SCHEDULE J
BENEFICIARIES
FILE NUMBER
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under
Sec. 9116 (a) (1.2)]
2. John N. Hutchinson, 394 N. 48th St., Harrisburg, PA 17111 Son 63,372.13
3. Jeffrey S. Hutchinson, 800 N. 2nd St. #34, Pottsville, PA 17901 Son 63,372.13
4. Erin K. McHatton, 6700 Etiwanda Ave, Unit 180, Tarzana, CA 91356 Granddaughter 21,124.04
5. Brandon J. Hutchinson, 18757 Linnet St., Tarzana, CA 91366 Grandson 21,124.04
6. Jason D. Hutchinson, 851 Domingo Dr. #31, Newport Beach, CA 92660 Grandson 21,124.04
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
II NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $ 0.00
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