HomeMy WebLinkAbout05-09-06
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COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
DEPT. 280601
HARRISBURG, PA 17128-0601
REV -1500
INHERITANCE TAX RETURN
RESIDENT DECEDENT
OFFICLi\L USE ONLY
FILE NUMBER
21 06
COUNTY CODE YEAR
SOCIAL SECURITY NUMBER
233-10-1095
02'-/9
NUMBER
DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
Martin, Fredda H
....
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DATE OF DEATH (MM-DD-YEAR)
DATE OF BIRTH (MM-DD-YEAR)
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
08/21/2005
02/24/191 7
REGISTER OF WILLS
SOCIAL SECURITY NUMBER
(IF APPLICABLE) SURVIVING SPOUSE'S NAME ( LAST, FIRST AND MIDDLE INITIAL)
~ 1. Original Return 0 2. Supplemental Return
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.... 0 4. Limited Estate 0
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wa.u 0 fgI
:J:~g 6. Decedent Died Testate (Attach copy
Ua.m of Will)
a.
c( 0 9. Litigation Proceeds Received 0
o 3. Remainder Retum (date of death prior to 12-13-82)
o 5. Federal Estate Tax Return Required
o 8. Total Number of Safe Deposit Boxes
o 11. Election to tax under Sec. 9113(A) (Attach Sch 0)
.....
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ww IRM NAME (If applicable) 4811 Jonestown Rd.
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00 Law Offices of Susan E. Lederer Suite 226
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ELEPHONE NUMBER Harrisburg, P A 17109
717/652-7323 .......,
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1. Real Estate (Schedule A) (1 ) None ,OFFICIAL ~s~ ONlY-:
2. Stocks and Bonds (Schedule B) (2) None .~
,
3. Closely Held Corporation, Partnership or Sole-Proprietorship (3) C) . ',='J
None " ("'"
---, , I
4. Mortgages & Notes Receivable (Schedule D) (4) None "!
J
i i 1
5. Cash, Bank Deposits & Miscellaneous Personal Property (5) 1,970.29 ')
(Schedule E) I j
6. Jointly Owned Property (Schedule F) (6) None
z o Separate Billing Requested
0
~ 7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (7) 359,565.02
~ (Schedule G or L)
....
0: 8. Total Gross Assets (total Lines 1-7) (8) 361,535.31
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w 9. Funeral Expenses & Administrative Costs (Schedule H) (9) 14,514.66
0::
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) (10) 328.77
11. Total Deductions (total Lines 9 & 10) (11 ) 14,843.43
12. Net Value of Estate (Line 8 minus Line 11) (12) 346,691.88
13. Charitable and Governmental Bequests/See 9113 Trusts for which an election to tax has not been (13) 8,000.00
made (Schedule J)
14. Net Value Subject to Tax (Line 12 minus Line 13) (14) 338,691.88
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
15.Amount of Line 14 taxable at the spousal tax rate, x .00 (15)
or transfers under Sec. 9116(a)(1.2)
z .045 (16)
0 16. Amount of Line 14 taxable at lineal rate x
~
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a. 17. Amount of Line 14 taxable at sibling rate x .12 (17)
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g 18. Amount of Line 14 taxable at collateral rate 338,691.88 x .15 (18) 50,803.78
19. Tax Due (19) 50,803.78
20. 181
CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT.
Copyright 2000 form software only The Lackner Group, Inc.
Form REV-1500 EX (Rev. 6-00)
~
Dec-edent's Complete Address:
STREET ADDRESS
355 S. Sporting Hill Road
CITY
Mechanicsburg
I STATE PA
I ZIP 17050
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
8. Prior Payments
C. Discount
(1 )
50,803.78
48,600.00
2,540.19
Total Credits (A + 8 + C) (2)
51,140.19
3. Interest/Penalty if applicable
D. Interest
E. Penalty
0.00
336.41
Total Interest/Penalty (D + E) (3)
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is theOVERPAYMENT. (4)
Check box on Page 1 Line 20 to request a refund
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is theTAX DUE (5)
A. Enter the interest on the tax due. (5A)
8. Enter the total of Line 5 + 5A. This is theBALANCE DUE (58)
0.00
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;............................................................................. ~ ~
~: ~:~::~ ~h;e~;~~i~~:~s:~~;=s~~~. ~~~~I. .~.~~. ~~~. :.~~:.~.~. .~~~.~.~~~~~~.~. .~.~ .i~~. ~~.~.~~~~.'.'.'.'...'.'...'.'.'.'.'.'.'~~::::::::::: ~~.....
d. receive the promise for life of either payments, benefits or care?...........................................................
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
contains a beneficiary designation? ...... ........ ...... ........ .n............ ... ..... ................. ............ ......... u .............. ...... D ~
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
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. Dedaration
preparer other than the personal representative is based on all information of which preparer has any knowledge.
SIGNATURE OF PERSON RESPONSIBLE FOR FILING RETURN ADDRESS
Bon ie R. Johnston
DATE
6207 Lookout Drive
Mechanicsburg, P A 17050
_1-'1 .. 0 ~
DATE
ADDRESS
ADDRESS
4811 Jonestown Rd.
Suite 226
Harrisburg, PAl 71 09
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/ DPfE
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) (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 0%
[72 P.S. 99116 (a) (1.1) (ii)]. The statutedoes not exemota 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 0% [72 P.S. 99116 (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 4.5%, except as noted in 72 P .5. 99116
1.2) [72 P.S. 99116 (a) (1)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12% [72 P.S. 99116 (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.
*'
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF .
Martm, Fredda H
I FILE NUMBER
21 - 05 -
Include the proceeds of litigation and the date the proceeds were received by the estate. All property jointly-owned with the right of
survivorship must be disclosed on schedule F.
ITEM DESCRIPTION VALUE AT DATE OF
NUMBER DEATH
1 check from Highmark (refund of health insurance premium) 449.98
2 check from County of Cumberland (burial stipend) 100.00
3 check from Verizon (refund of telephone services) 3.41
4 check from Comcast (refund of cable services) 56.87
5 check from Country Meadows (refund from nursing home) 1,360.03
TOTAL (Also enter on Line 5, Recapitulation)
1,970.29
*'
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Martin, Fredda H
FILE NUMBER
21 - 05 -
ITEM
NUMBER
This schedule must be comp eted and filed if the answer to any of questions 1 throu~ h 4 on page 2 is yes.
DESCRIPTION OF PROPERTY % OF
Include the name of the transferee, their relationship to decedent and the date of transfer. S:LTUEE 06F ~T~T DECO' S EXCLUSION TAXABLE VALUE
Attach a copy of the deed for real estate. INTEREST (IF APPLICABLE)
2,046.913 shares of Bond Fund of America, CUSIP #
097873103, held at Ferris Baker Watts, titled to Fredda H.
Martin & Bonnie R. Johnston, Co-Trustees of the Fredda H.
Martin Living Trust ($13.45/sh)
2
596.621 shares of Capital Income Builder Fund, CUSIP #
140193103, held at Ferris Baker Watts, titled to Fredda H.
Martin & Bonnie R. Johnston, Co-Trustees of the Fredda H.
Martin Living Trust ($53 .29/sh)
27,530.98 100%
27,530.98
3
667 shares of Eaton Vance Ins - P A Muni Fund, CUSIP #
27828WI02, held at Ferris Baker Watts, titled to Fredda H.
Martin & Bonnie R. Johnston, Co-Trustees of the Fredda H.
Martin Living Trust ($ 16.70/sh)
31,793.93 100%
31,793.93
4
22,419.704 shares of Franklin Income Fund, CUSIP #
353496300, held at Ferris Baker Watts, titled to Fredda H.
Martin & Bonnie R. Johnston, Co-Trustees of the Fredda H.
Martin Living Trust ($2.50/sh)
11,138.90 100%
11,138.90
5
1,000 shares of Hancock Patriot Preferred Fund, CUSIP #
41013JI07, held at Ferris Baker Watts, titled to Fredda H.
Martin & Bonnie R. Johnston, Co-Trustees of the Fredda H.
Martin Living Trust ($13.85/sh)
56,049.26 100%
56,049.26
6
3,297.532 shares of Income Fund of America, CUSIP #
13,850.00 100%
13,850.00
7
453320103, held at Ferris Baker Watts, titled to Fredda H.
Martin & Bonnie R. Johnston, Co-Trustees of the Fredda H.
~t"r-\~~' L04~~"'f(V~31~ \~. ~r;.,/6~)
1,000 shares of Metlife Series B. Preferred 6.5%, held at
Ferris Baker Watts, titled to Fredda H. Martin & Bonnie R.
Johnston, Co-Trustees of the Fredda H. Martin Living Trust
($25.9775/sh)
61,202.19 100%
61,202.19
8
1,381 shares of Advisor Trust Global High 30 Cash, CUSIP
# 007582653, held at Ferris Baker Watts, titled to Fredda H.
Martin & Bonnie R. Johnston, Co-Trustees of the Fredda H.
Martin Living Trust ($10.54/sh)
25,977.50 100%
25,977.50
Total of Continuation Schedule(s)
14,555.74 100%
14,555.74
TOTAL (Also enter on line 7, Recapitulation)
117,466.52
359,565.02
.
.
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
continued
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Martin, Fredda H
FILE NUMBER
21 - 05 -
ITEM
NUMBER
This schedule must be completed and filed if the answer to any of questions 1 throu~lh 4 on page 2 is yes.
DESCRIPTION OF PROPERTY % OF
Include the name of the transferee, their relationship to decedent and the date of transfer. DA TUEEOOFFDEASSTHT DECD'S EXCLUSION TAXABLE VALUE
Attach a copy of the deed for real estate. VAL A E INTEREST (IF APPLICABLE)
2,020 shares of Advisors Trust High Yield 3 Cash, CUSIP # 19,008.20 100% 19,008.20
007582497, held at Ferris Baker Watts, titled to Fredda H.
Martin & Bonnie R. Johnston, Co-Trustees of the Fredda H.
Martin Living Trust ($9.41/sh)
9
10
Discover Bank Greenwood DE Certificate of Deposit FDIC
ACT/365 INT@ MAT CPN 3.300% Due 12/15/2005 dated
6/15/2005, FC 12/15/2005, held at Ferris Baker Watts, titled
to Fredda H. Martin & Bonnie R. Johnston, Co-Trustees of
the Fredda H. Martin Living Trust ($485.93 accrued
interest)
11
NY Community Bank Westbury NY Certificate of Deposit
FDIC Act /365 INT @ MAT CPN 2.950% Due 9.15.05
DTD 6/15/05 FC 9/15/05, held at Ferris Baker Watts, titled
to Fredda H. Martin & Bonnie R. Johnston, Co-Trustees of
the Fredda H. Martin Living Trust ($195.03 accrued
interest)
12
Pennsylvania State Higher Educational Facs. Auth. College
& Univ REVS 6th Series CPN 6.350% Due 1/1/06 DTD
1/1/74, held at Ferris Baker Watts, titled to Fredda H.
Martin & Bonnie R. Johnston, Co-Trustees of the Fredda H.
Martin Living Trust ($44.98 accrued interest)
13
Trust Reserve Fund, held at Ferris Baker Watts, titled to
Fredda H. Martin & Bonnie R. Johnston, Co-Trustees of the
Fredda H. Martin Living Trust ($2.89 accrued interest)
14
Dividend - Eaton Vance P A Municipal Bond Fund, CUSIP
# 27828WI02, held at Ferris Baker Watts, titled to Fredda
H. Martin & Bonnie R. Johnston, Co-Trustees of the Fredda
H. Martin Living Trust
15
Dividend - Advisors Trust Global 30 Cash Fund, CUSIP #
007582653, held at Ferris Baker Watts, titled to Fredda H.
Martin & Bonnie R. Johnston, Co-Trustees of the Fredda H.
Martin Living Trust
43,485.93 100%
43,485.93
35,195.03 100%
35,195.03
5,069.98 100%
5,069.98
1,675.90 100%
1,675.90
46.69 100%
46.69
52.62 100%
52.62
Page 2 of Schedule G
.
SCHEDULE G
INTER-VIVOS TRANSFERS &
MISC. NON-PROBATE PROPERTY
continued
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Martin, Fredda H
FILE NUMBER
21 - 05 -
This schedule must be completed and filed if the answer to any of questions 1 throu~ h 4 on page 2 is yes.
ITEM DESCRIPTION OF PROPERTY DATE OF DEATH %OF
Include the name of the transferee, their relationship to decedent and the date of transfer. DECO'S EXCLUSION TAXABLE VALUE
NUMBER Attach a copy of the deed for real estate. VALUE OF ASSET INTEREST (IF APPLICABLE)
16 Dividend - Advisors High Yield 3 Cash Fund, CUSIP # 159.98 100% 159.98
007582497, held at Ferris Baker Watts, titled to Fredda H.
Martin & Bonnie R. Johnston, Co-Trustees of the Fredda H.
Martin Living Trust
17 Checking Account # 42712165, held at M&T Bank, titled to 3,549.14 100% 3,549.14
Fredda H. Martin & Bonnie R. Johnston, Co-Trustees of the
Fredda H. Martin Living Trust ($0.02 accrued interest)
18 Checking Account # 98028677, held at M&T Bank, titled 8,762.11 100% 8,762.11
to Fredda H. Martin & Bonnie R. Johnston, Co-Trustees of
the Fredda H. Martin Living Trust ($0.05 accrued interest)
19 Cash Account # 5593-2929 WY38, held at Wachovia 460.94 100% 460.94
Securities, titled to Fredda H. Martin & Bonnie R. Johnston,
Co- Trustees of the Fredda H. Martin Living Trust
Page 3 of Schedule G
.
SCHEDlI.E H
RJt.ERAL. EXPENSES &
AIl\IINSTRATlVE COSTS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Martin, Fredda H
ITEM
NUMBER
A.
B.
! FILE NUMBER
21 - 05 -
Debts of decedent must be reported on Schedule I.
DESCRIPTION
FUNERAL EXPENSES:
Lobban Funeral Home (funeral and burial expenses in West Virginia)
2
Lobban Monument Company (grave marker)
3
Myers Harner Funeral Home (Pennsylvania)
4
Memorial Service (minister honorarium, funeral meal, correspondence to family)
5
Trustee's expenses to travel to West Virginia for funeral (gas & hotel room)
ADMINISTRATIVE COSTS:
1 . Personal Representative's Commissions
Bonnie R. Johnston
Social Security Number(s) I EIN Number of Personal Representative(s):
2.
Street Address 6207 Lookout Drive
City Mechanicsburg
Year(s) Commission paid 2006
Attorney's Fees Law Offices of Susan E. Lederer
Zip 17050
State
PA
3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City
Relationship of Claimant to Decedent
State
Zip
4. Probate Fees
5. Accountant's Fees
6. Tax Return Preparer's Fees
7.
1
Other Administrative Costs
Wachovia Securities (account fee)
2
Pennsylvania Inheritance Tax Return (filing fee)
TOTAL (Also enter on line 9, Recapitulation)
AMOUNT
3,862.95
487.71
4,700.00
274.00
125.00
2,500.00
2,500.00
50.00
15.00
14,514.66
*'
SCHEDULE I
DEBTS OF DECEDENT, MORTGAGE
LIABILITIES, & LIENS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF . dd
Martm, Fre a H
I FILE NUMBER
21 - 05 -
Include unreimbursed medical expenses.
ITEM
NUMBER
1 P A Dept of Revenue (preassessment)
DESCRIPTION
AMOUNT
163.77
2
Estimated Income Taxes
165.00
TOTAL (Also enter on Line 10, Recapitulation)
328.77
~
REV-151.3 EX+ (9-00j
*'
SCHEDULE J
BENEFICIARIES
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
Martin, Fredda H
I FILE NUMBER
21 - 05 -
RELATIONSHIP TO AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY DECEDENT OF ESTATE
n.. N..t
I. TAXABLE DISTRIBUTIONS (include outright spousal distributions)
1 Jill Gunzel Niece 10,000.00
904 Spruce Drive
Holbrook, NY 11741
2 Bonnie R. Snyder a/k/a Bonnie R. Johnston Friend 100,000.00
6207 Lookout Drive
Harrisburg, P A 17050
3 Virginia Maddock Gunzel Niece 100% of residue
1813 Park Avenue
East Meadow, NY 11554
Enter dollar amounts for distributions shown above on lines 15 through 18, as appropriate, on Rev 1500 cover shee t
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
1 Baughman Memorial United Methodist Church 5,000.00
228 Bridge Street, New Cumberland, P A 17070
2 Johnson Memorial Methodist Church 3,000.00
Alderson, WV 24910
TOTAL OF PART 11- ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEEjr 8,000.00
Sc lul \l lc 6- J -r-t< ~ \
<fHGHMARK@
Da t e: 08/30/2005
This Month
Gross payment amount
Net payment amount
449.98
449.98
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Direct Pay Central Region
Premium Refund
DA rE
\ 0 8 / 3 0 / 2 0 0 5\
*FOUR HUNDRED FORTY-NINE M~D 98/100 DOLLARS*
AMOUNT
\ 449.98
PAY
TO THE
ORDER OF
THE ESTATE OF FREDDA H I~~TIN
355SPORTNGHILL 2054
MECP~WICSBURG PA 17050
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999003853 BONNIE JOHNSTON
CHECK NUMBER 615468 DATE 09/16/05
INVOICE NUMBER DATE DESCRIPTION GROSS AMT. DISCOUNT NET AMOUNT
90105VA 09/01/05 F. MARTIN-BURIA 100.00 0.00 100.00
5c~~c\ 0~ 6
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County of Cumberland I TOTALS 100.00 0.00 100.00
PLE....SE ADDRESS ANY CORRESPONDENCE REGARDING THIS VOUCHER OR TRANSACTION TO THE OFICE OF THE CONTROLLER. CUMBERLAND COUNTi' COURT HOUSE, CARLISLE, PA, 17013,
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Sovereign Bank
60-7269/2313
GENERAL ACCOUNT
CARLISLE, PENNSYLVANIA
AMOUNT
15468
*******100.00
ONE HUNDRED AND 00/100 - - - - - _.- - - - - - - - - - - - - - - - - - - - -- - - - - - - - - - - -- - - - - - - - --
DOLLARS
BONNIE JOHNSTON
6207 LOOKOUT DR
MECHANICSBURG
PA 17050
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4008 N. DUPONT HIGHWAY
,A.TTN: SUPPORT ~;.ERVICES
NEW CASTLE; DE 19720
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FREDDA rVlARTIN
6207 LOOKOUT DR
MECHANtCSBURG, PA 17050-1673
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The attached check represents a subscriber refund for account number 09547-403713 in the
amount of $56.87. If you have any questions or concerns regarding the refund check
you can write us at the address above or call Comcast's toll free customer service number
at 1-888-COMCAST.
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Check Date: 10/19/2005
Check Number: 15720100~.:;,t,>_
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DETACH AND RETAIN THIS STATEMENT
THE ATTACHED CHECK IS IN PAYMENT OF ITEMS DESCRIBED ABOVE.
IF NOT CORRECT, PLEASE NOTIFY US PROMPTLY. NO RECEIPT DESIRED
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Country Meadows West Shore 3
4905 E~ct Trindle Road
Mechanicsburg, PA 17050
Telephone: (717) 761-8880
Resident Statement
Date: 09/01/2005
Re: Fredda Martin
Account#: 72485
Balance Due: -1,360.03
Bonnie Johnston
6207 Lookout Drive
Mechanicsburg, Pa 17050
DATE
08/18/2005
09/02/2005
08/01/2005
08/01/2005
08/01/2005
08/01/2005
08/18/2005
08'/<",)/1 /'iI\I\t:
I"-':t .&:.UV..J
Amount Enclosed
BALANCE FORWARD
3,438.47
PAYMENT
P A YIvTENT
Room, Board and Services
Room, Board and Services
Room, Board and Services
Room, Board and Services
Pharmacy Bldg.3
Meal Credit Bldg.3
CURRENT MONTH CHARGES
(3,438.47
(500.00
(3,246.00)
1,600.77
533.59
130.19
156.42
(35.00)
(860.03
(1/360.03
CREDIT BALANCE - DO NOT PAY
Thank you for choosing Country Meadows of West Shore 31
Please include the top portion of this bill with your payment by the
15th using the enclosed envelope. Make you check payable to Country
Meadows Associates.
For pharmacy questions please contact "Alert" direct at 1-800-266-9954
Resident Name: Fredda Martin
Account#: 72485
Statement Date: 09/0l/2005
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FERRIS
BAKER
WAlTS
Founded 1900
Ferris, Baker Watts, Incorporated
Member NYSE, SIPC
Investments
3100 Market Street
Camp Hill, Pennsylvania 17011
(717) 737-4500
10/18/05
Susan E. Lederer, Law Offices
ATTN: AmyM. Moya
4811 J onestown Road, Suite 226
Harrisburg, PAl 71 09
RE:
Request for Information on the Account ofFredda H. Martin Living Trust
Account # 5357-7070
Ms. Maya,
In response to your correspondence on October 6, 2005, the following information is
being provided to assist with Estate tax filing.
1) Mrs. Fredda H. Martin opened a living trust with our brokerage firm on May 19th,
2005, which is Account # 5357-7070, Fredda H. Martin Living Trust DTD
3/22/99, Fredda H. Martin & Bonnie R. Johnston, Co-Trustees.
2) See second page for security values as of 8/19 & 8/22.
3) In regards to dividends/interest due but not yet paid prior to Mrs. Martin's death,
three securities meet this criteria and are listed below:
a) Eaton Vance P A Muni Bond Fund
b) Advisors Trust Global 30 Cash Fund
c) Advisors High Yield 3 Cash Fund
$46.69
$52.62
$159.98
paid 8/30/05
paid 8/30/05
paid 8/30/05
Total: $259.29
4) The Fredda H. Martin Living Trust Reserve Fund money market account as of
8/19/05 was $1675.72 and as of 8/22/05 was $1676.07, which includes $2.89
accumulated interest for the month.
Included for your convenience is a copy of the August statement for the above-mentioned
account. If you have any questions, please feel free to contact me at 717-737-2455.
S incerel y,
!1~,~.-
MicHael G. Akers
All information contained in this document is deemed reliable, but not guaranteed by
Ferris, Baker, Watts, Inc.
. FERRIS
; BAKER
WAllS
Founded 1900
Ferris, Baker Watts, Incorporated
Member NYSE, SIPC
Investments
3100 Market Street
Camp Hill, Pennsylvania 17011
(717) 737-4500
Fredda H. Martin Living Trust (Acet # 5357-7070) Open Holdings
Security Values as of 8/19/05 and 8/22/05 for Date of Death Valuation
As of Friday Au~st 191h 2005:
, '-- ,
Quantity Security Open Hi~h Low Close
2,046.913 Bond Fund of America --- --- --- 13.45
596.621 Capital Income Builder Fund --- --- --- 53.29
667 Eaton Vance Ins. PA Muni Fund DNT DNT DNT DNT
22,419.704 Franklin Income Fund --- --- --- 2.50
1,000 Hancock Patriot Preferred Fund 13.97 13.97 13.77 13.82
3,297.532 Income Fund of America --- --- --- 18.56
1,000 Metlife Series B Preferred 6.5% 25.97 26.05 25.90 26.05
1,381 Advisors Trust Global High 30 Cash --- --- --- 10.54
2,020 Advisors Trust High Yield 3 Cash --- --- --- 9.41
43,000 Discover Bank 3.3 12/15/05 100.00 43,000.00 485.93 $43,485.93
35,000 NY Community Bank 2.95
9/15/05 100.00 35,000.00 195.03 $35,195.03
5,000 PAST REF A 6.35 1/1/06 100.50 5,025.00 44.98 $5,069.98
Price Market Value Interest Total
A fM d A
22nd 'J005
so on ay, ugust , .-
Quantity Security Open Hi2h Low Close
2,046.913 Bond Fund of America --- ---- --- 13.46
596.621 Capital Income Builder Fund --- --- --- 53.46
667 Eaton Vance Ins. P A Muni Fund 16.44 16.44 16.26 16.26
22,419.704 Franklin Income Fund --- --- --- 2.50
1,000 Hancock Patriot Preferred Fund 13.83 13.87 13.79 13.87
3,297.532 Income Fund of America --- --- --- 18.59
1,000 Metlife Series B Preferred 6.5% 26.00 26.06 25.90 25.93
1,381 Advisors Trust Global High 30 Cash --- --- --- 10.68
2,020 Advisors Trust High Yield 3 Cash --- --- --- 9.43
43,000 Discover Bank 3.3 12/15/05 100.00 43,000.00 485.93 $43,485.93
35,000 NY Community Bank 2.95
9/15/05 100.00 35,000.00 195.03 $35,195.03
5,000 PASTHEFA6.35 1/1/06 100.50 5,025.00 44.98 $5,069.98
Price Market Value Interest Total
--- = Mutual Fund with NA V only
DNT = Did not trade on 8/19; last trade on 8/16, closed @ $16.70
All information contained in this document is deemed reliable, but not guaranteed by
Ferris, Baker, Watts, Inc.
<' I
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m M&fBank
499 Mitchell Road, Millsboro, DE 19966 Mail Code DE-MB-I2
Phone (888) 502-4349
Fax (302) 934-2955
September 29,2005
Susan Lederer, Esquire
Attorneys At Law
4800 Jonestown Road, Suite 226
Harrisburg, P A 17109
Re: Estate of Fredda H Martin
Social Security: 233-10-1095
Date of Death: August 21, 2005
Dear Sir or Madam:
Per your inquiry dated September 23, 2005, please be advised that at the time of death, the above-named decedent had on
deposit with this bank the following:
1.
Type of Account
Checking Account
Account NUl1'lber
42712165
Ownership (Names oj)
Fredda H Martin Living Trust
Bonnie R Johnston, Fredda H Martin, Trustee *
Opening Date
12/28/87
Balance on Date of Death
$3,549.12
Accrued Interest
$ 0.02
.-..........-.-...............-..-.........,.........................--....--.....-............-........................-.-....................-...~.__...~..._.._.._...............................
Total
$3,549.14
Interest Paid YTD
.--.$........-----i6T-(A.cc;;;;~'d..i~t~;~~i...i~-.~;t-i~~i;d~..dj-.......-....-..-..._...-._....-
2.
Type of Account
Checking Account
Account Number
98028677
Ownership (Names of)
Fredda H Martin Living Trust
Bonnie R Johnston, Fredda H Martin, Trustee *
Opening Date
01/08/97
Balance on Date of Death
$8,762.06
$ 0.05
Accrued Interest
- ,,- --..... ---... ..-......- -. - "..-....... ....-., ----- -... -- -- -- ----....--- ---... -----........ --...."... ,.- -- .....-------- -----...--
Total
$8,762.11
.., ..... ~... ....._-....... - ......--..- .......-...--...--... .... -..-.......-.- ._---~_... ..-..-- -.. -.. '.... ..... ,.........-........-.. '.........-..-...-..-.-.....-........-
Interest Paid YTD
$ 58.64
Please be advised, there was no safe deposit box found for the above decedent.
*For further account information, regarding ownership and any changes, closures and/or reimbursement of funds,
etc., please call the Hampden Office # 717-255-2293.
Sincerely)
1(t2'7~~ {/r1T~'
N aney Clagett
Records Management
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January 4} 2006
Susan E. Lederer
Law Offices
4811 J onestown Road - Suite 226
Harrisburg} P A 17109-1751
RE: Fredda H. Martin Living Trust
Account No. 5593-2929 WY38
Date of Death: August 21} 2005
Dear Ms. Lederer:
As I mentioned in my letter of November 16} 2005 transferred her securities account to another
broker on June 9, 2005.
As of her date of death there were monies (most likely trailing dividends) on deposit of $460.94 in a
non-interest bearing cash accoWlt which should have been automatically forwarded to the new
broker.
I trust this answers your question. If I may be of any further assistance} please do not hesitate to
contact me.
Very truly yours}
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Bruce D. Mulvey
Associate Vice President Investments
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This
IJVING T!lTTST
prepared for
FREDDA H. MARTIN
Janles, Smith, Durkin & Connelly LLP
134 Sipe Avenue
Hunlnlelstown, P A 17036
(717) 533-3280 FAX (717) 533-2795
<9 James, Smith, Durkin & Connelly LLP
All Rights Resel'vcd
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Article One
Article Two
Article Three
Article Four
Article Five
Ariicle Six
Article Seven
Article Eight
Article Nine
.A.:rti c leT en
Article Eleven
Article Twelve
FREDDA H. MARTIN LIVING TRUST
Table of Contents
Trust Creation ....................... . . . . . . . . . . . .. 1-1
The Trust Estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 2-1
Appointtnent of Trustees. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3-1
Trustor's Lifetin1e Rights. ............................ 4-1
Adlninistration at Death of the Trustor
5..1
Specific Distributions of Trust Property
6-1
Retirement Trust and COlnn1on Pot Trust . . . . . . . . . . . . . . . . .. 7-1
Division and Distribution of Trust Property. . . . . . . . . . . . . . . .. 8-1
Distribution If No Designated Beneficiaries. . . . . . . . . . . . . . . .. 9-1
Trustee .i\dlninistration ............................. 10-1
Trustee Powers .................................. 11-1
General Provisions. . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . .. 12-1
1
FREDDA H. MARTIN LIVING TRUST
Article One
Trust Creation
Section 1. Parties to My Trust
My Trust Agreement, dated ~^AR 2; 2; 1999
Trustor, and the following Initial Trustees:
, is Inade between FREDDA H. MARTIN, the
FREDDA H. MARTIN
BONNIE R. SNYDER
Section 2. Name of My Trust
My Trust may be referred to as the:
FREDDA H. MARTIN LIVING TRUST, dated MJ\H 2 ~~ 1999
The f01111al nanle of IllY Trust and the designation to be used for the transfer of title to the nanle
of lny Trust is:
FREDDA H. MARTIN and BONNIE R. SNYDER, Trustees, or their successors in trust,
under the FREDDA H. MARTIN LIVING TRUST, dated MllR ?? 10niJ' and any
alnendnlents thereto. -., i.......,;..;
Section 3. Revocable Living Trust
My Trust is a revocable trust.
Section 4. Trustor as Trustee
Unless otherwise provided in my Trust Agreelnent, when I aln serving as Trustee under ll1Y Trust,
I may conduct business and act on behalf of my Trust without the consent of any other Trustee.
1-1
Section 5. My Family
Unless specifically provided otherwise in subsequent provisions of n1Y Trust AgreeITIent, all
references to "Iny children", subject to the exclusion of any child under any subsequent provision
of this Section 5, are to all of the children so identified in this Section 5, but only to those
children and any children bon1 to or adopted by lne subsequent to the execution of nlY Trust
Agreelnent.
a. Marital Status
I alTI presently umnarried.
b. My Children
I have no living children.
1-2
Article Two
The Trust Estate
Section 1. Initial Transfer of Property
I hereby assign, convey, transfer and deliver to nlY Trustee all property set forth on Schedule
"A", attached hereto, and nlade part of nlY Trust Estate. My Trustee aclrnowledges receipt of all
. assets listed on the attached Schedule.
All assets titled in the nalne of lny Trust or in the nanle of IllY Trustee, but not listed on Schedule
"A", shall be considered a part of nlY Trust Estate as if they had been set forth on the attached
Schedule.
Section 2. Additional Transfers to Trust
I, or any other person or entity, nlay transfer or devise to Iny Trustee additional assets, real or
personal, and nlay nanle IllY Trustee as the beneficiary of life insurance policies, annuities,
retirenlent plans or similar contracts. Such assets, policies and proceeds, upon acceptance by my
Trustee, shall be a part of lny Trust Estate, subject to all the tenns of illY Trust Agreenlent.
Section 3. Character of Trust Assets
All property transferred by me into IllY Trust shall retain its character. All such property
transferred, and incolne thereon less withdrawals thereof, shall be Iny Trust Estate.
Section 4. .Acceptance of Trust Propert)!
All property transferred to Iny Trust, and accepted by Iny Trustee, shall be held, adnlinistered and
distributed according to the ternlS of IUY Trust Agreement.
2-1
Article Three
Appointment of Trustees
Section 1. Definition of Trustee
All uses of the word "Trustee" in n1Y Trust Agreement shall be deen1ed a reference to the person
or entity then serving as Trustee and shall include alternate or Successor Trustees or Co-Trustees
(if n1ultiple trustees are serving), unless the context requires otherwise.
Section 2. Resignation of a Trustee
.A~l1Y Trustee 111ay resign at any tin1e \vithout couli approval by giving ,vritten notice to Iue if I
an1 living and con1petent. If I alTI not then living and con1petent, written notice shall be given
to 111Y next Successor Trustee; or if there is no next Successor Trustee, to the beneficiaries then
entitled to receive incolne or principal distributions under n1Y Trust Agreen1ent or their respective
Personal Representatives, or if any of such beneficiaries then be a minor, to the persons having
the care or custody of any such minor. Such resignation shall be effective upon the appoi11tnlent
of a Successor Trustee.
Section 3. Removal of a Trustee
Any Trustee n1ay be relnoved under Iny Trust AgreeInent as follows:
a. While I Am Alive and Competent
While I am alive and cOlnpetent, I Inay add a Trustee, or ren10ve or replace any
other Trustee appointed under IllY Trust Agreelllent at any tillle without cause.
b. Removal by Others
Upon n1Y death or incapacity, any Trustee Inay be ren10ved at any tin1e for cause
by a Inajority vote of the beneficiaries then entitled to receive inconle or principal
distributions under my Trust Agreelnent, or their Personal Representatives.
3-1
c. Notice to Removed Trustee
Written notice of renloval under Iny Trust Agreelnent shall be effective
inl1nediately when signed by the person or persons authorized to 111ake the renloval
and delivered to nlY Trustee personally or three business days after mailing by
certified l11ail, return receipt requested. The written notice rellloving a Trustee
shall identify the Successor Trustee appointed pursuant to the other provisions of
this Article.
d. Transfer of Trust Property
The Trustee so renloved shall pronlptly transfer and deliver to the Successor
Trustee all property of 111Y Trust under the renloved Trustee's possession and
control.
Section 4. Designated Successor Trustees
Subject to the provisions of Section 3 of this Article, whenever a Trustee is removed, dies,
resigns, beconles incapacitated, or is otherwise unable or unwilling to serve, the vacant Trustee
position shall be filled as follows:
a. Vacancy in Position of Trustee While I Am Alive and Competent
I 111ay serve as the only Trustee or I 111ay nalne any nunlber of Trustees to serve
with 11le. If any of these other Trustees subsequently fails or ceases to serve as
a Trustee for any reason, I Inay or Inay not appoint another to fill the vacancy.
b. Incapacity Trustees of FREDDA H. IVIARTIN
If FREDDA H. MARTIN beconles incapacitated while serving as an Initial Trustee,
she shall be replaced by the following Incapacity Trustee(s) to serve in the priority
listed until the list has been exhausted. Unless otherwise specified, if Co-
Incapacity Trustees are serving, the next following na111ed Successor Incapacity
Trustee(s) shall serve only after all of the Co-Incapacity Trustees initially fail or
thereafter cease to act as Trustees:
BONNIE R. SNYDER; THEN
VIRGINIA MADDOCK GUNZEL
3-2
c. Death Trustees of FREDDA H. MARTIN
Upon the death of FREDDA H. MARTIN, she or her Incapacity Trustee, if either is
then serving as Trustee, shall be replaced by the following Death Trustee( s) to
serve in the priority listed until the list has been exhausted. Unless otherwise
specified, if Co-Death Trustees are serving, the next following nalned Successor
Death Trustee(s) shall serve only after all of the Co-Death Trustees initially fail
or thereafter cease to act as Trustees:
BONNIE R. SNYDER; THEN
VIRGINIA MADDOCK GUNZEL
Section 5. No Designated Successor Trustees
If at any tinle there is no Trustee acting under 111Y Trust Agreenlent and there is no person or
institution designated and qualified as a Successor Trustee, a 111ajority of the beneficiaries then
eligible to receive distributions of incolne or principal under Iny Trust Agreement or their
Personal Representatives, shall appoint a Successor Trustee. If any trust existing under IllY Trust
Agreenlent lacks a Trustee and no successor is appointed pursuant to this Article, the vacancy
shall be filled by a court of cOlnpetent jurisdiction.
Section 6. Responsibility of Successor Trustees
Other than anlending or revoking Iny Trust, or appointing or removing a Trustee, a Successor
Trustee shall have the sanle rights, powers, duties, discretion and illlillunities as if nmned as
Initial Trustee under nlY Trust Agreelnent. No Successor Trustee shall be personally liable for
any act, or failure to act, of any predecessor Trustee or shall have any duty to exanline the
records of any predecessor Trustee. A Successor Trustee nlay accept the account rendered and
the property delivered by, or on behalf of, a predecessor Trustee as a full and conlplete discharge
of the duties of the predecessor Trustee without incurring any responsibility or liability for doing
so.
Section 7. Co-Trustee's Responsibility for the Acts of Other Co-Trustees
No Co-Trustee shall be responsible for the act, omission or default of any other Co-Trustee
vv'ithout actual knowledge thereof.
3-3
Article Four
Trustor's Lifetime Rights
Section 1. Income and Principal
a. Right to Trust Income and Principal
My Trustee shall pay to Ine, or apply for nlY benefit during Iny lifetime, all or
such part of the incollle and principal of ll1Y Trust Estate as I Inay direct.
b. Trustee Liability
Upon any distribution of the inconle or principal of nlY Trust Estate authorized or
directed bYlne, nlY Trustee shall incur no liability, and shall be under no
obligation or responsibility for such distribution.
Section 2. Trustor's Rights During Illcapacity
a. Incapacitated Trustor's Intent to Return HOllle
Notwithstanding any other provision of my Trust Agreement, as a notification to
any governmental benefits provider, it is conclusively presumed that I intend to
return honle.
b. Income and Principal Distributions
During any period of 111Y incapacity, my Trustee shall pay to my Personal
Representative, or apply for my benefit, as much of the net income and principal
of my Trust Estate as Iny Trustee, in my Trustee's discretion, shall deem
necessary or advisable. Any undistributed net income shall be added to principal.
4-1
My Trustee, in her discretion, may provide so much of the net income and
principal as my Trustee deems necessary for the benefit of my brother, ~ARCUS
O. HEDRICK, and Iny sister, MARTHA LOUISE HEDRICK during IllY disability.
c. Tax and Government Benefits Planning
Should I beconle incapacitated, nlY Trustee shall cooperate in tax and goverrunent
benefits planning with IUY Atto111ey-in-Fact appointed under a durable power of
attorney; or, if none, with any Personal Representative that nlay be appointed by
a court of competent jurisdiction, but the primary concern of IllY Trustee shall be
for Iny welfare and secondarily for such planning.
Section 3. Right to Amelld or Revoke My Trust During My Life and at Death
a. Power to Revoke and ...t\.mend While I Am Living
While I aln alive, I may at any tinle or tunes amend any provision of my Trust
Agreement or revoke my Trust in whole or in part.
b. Method to Revoke or Anlend During Life
Any amendment or revocation of my Trust Agreement made during my life shall
be by a written instrument signed by me and delivered to my Trustee.
c. Power and Method to Amend at Death
If Code section 401 (a)(9) is interpreted to allow the beneficiaries of a trust to be
a "designated beneficiary" if such trust lnay be so amended at death, then by a
duly probated last will which exercises this power to amend, I may also amend
any provisions of my Trust. Except as to any such amendment, nlY Trust and all
other trusts created under it shall become irrevocable at my death.
d. Trustee Consent
Any exercise of a power of amendment substantially affecting the duties, rights
and liabilities of my Trustee shall be effective upon my Trustee only if agreed to
by nlY Trustee in writing.
e. Delivery of Property After Revocation
After any revocation with respect to my Trust, my Trustee shall promptly deliver
the trust property to me.
4-2
f. Trustee's Retention of Assets Upon Revocation
In the event of any revocation of all or part of my Trust, my Trustee shall be
entitled to retain sufficient assets to reasonably secure the payment of liabilities
my Trustee has lawfully incurred in administering my Trust unless I indemnify
my Trustee against loss or expense.
Section 4. Exercise of Trustor's Rights and Powers by Others
Any right or power, other than an alnendment by will, or any right or power that would
constitute a general power of appoint111ent if held by nlY Attorney-in-Fact, that I may exercise
under the terms of Iny Trust Agreement, may be exercised for and on Iny behalf by any
Attorney-in-Fact who, at the time of the exercise, is duly appointed and acting for me under ~
valid and enforceable power of attorney executed by me. Only if no such Agent is then
available, a Personal Representative appointed by a court of competent jurisdiction may exercise
such right or power.
Other than as provided in this Section 4, my powers under my Trust Agreement are personal
to Ine and may not be exercised by any other person or entity.
Section S. Property Held as Nominee
For administrative convenience it is contemplated that certain assets may be added to my Trust
Estate from time to time with the possession and control thereof retained by or redelivered to
nle. Notwithstanding such control or redelivery, such assets shall be assets of my Trust Estate
and held by me as the nominee of my Trustee. During the period such assets are in my
possession, they shall be subject to the following terms and conditions:
a. I 111ay receive directly and devote to my own use and benefit any
dividends, interest, income, or proceeds or distributions from or upon
such assets and neither I nor my Trustee shall have any duty of accounting
to the other or to any other person with regard thereto.
b. Any sale, exchange or other transfer of such assets by Ine shall constitute
a withdrawal of such assets from my Trust Estate and my Trustee shall
have no further interest therein or duties with regard thereto. Though not
a condition precedent to any such withdrawal, I agree to notify my Trustee
of all such withdrawals.
4-3
c. I shall be responsible for the reporting of the income from such assets to
the appropriate taxing authorities and my Trustee shall have no
responsibility for including such inconle on any fiduciary returns prepared
by Iny Trustee or for the preparation of any other government filing with
respect thereto unless I duly notify my Trustee of such income items and
a full and adequate accounting thereof is made and presented to my
Trustee.
d. I shall protect and indemnify my Trustee against all losses, liabilities and
expenses which may result directly or indirectly from Iny use, possession,
management or control of such assets.
e. Upon my death or incapacity, nlY Trustee shall remain entitled to the
possession thereof and shall continue to have all the rights, powers and
duties with respect to such assets which are granted to my Trustee herein.
My Trustee is not responsible for assets held by me as nominee.
However, it is also understood that my Trustee shall use any reasonable
and prudent means to secure possession of any trust assets of which Iny
Trustee has knowledge. My Trustee shall have no duty, accountability or
responsibility to me or to any other person with respect to any assets of
which my Trustee has no knowledge or of which my Trustee is unable to
obtain possession and control.
4-4
Article Five
Administration at Death of the Trustor
Section 1. Trustee's Payment of Debts and Taxes
After nlY death, unless other provisions for paynlent have been nlade, Iny Trustee shall pay all
or any part of the following expenses, debts, clainls and taxes fronl Iny Trust Estate:
a. Final ll1edical expenses and all funeral costs;
b. Legally enforceable claims against me;
c. Reasonable expenses of administration of nlY Trust attributable to my
probate estate;
d. Any allowances nlandated by a court of conlpetent jurisdiction to those
dependent upon nle;
e. Any estate, inheritance, succession, generation skipping transfer, or sin1ilar
taxes payable by reason of nlY death; and
f. Any penalties or interest on any of the above expenses, clain1s, debts or
taxes owed by ll1e or my probate estate.
Section 2. PaYlllellt by My Trustee or Personal Representative
My Trustee, in my Trustee's discretion, may Inake distributions authorized under this Article
either directly to the person or entities to whom payment is owed or to the Personal
Representative of Iny probate estate. Written statements by my Personal Representative that
such sums are due and payable by my estate shall be sufficient evidence of their amount and
propriety for the protection of my Trustee. My Trustee shall be under no duty to see to the
application of any such payments Inade to Iny Personal Representative.
5-1
Section 3. Tax Elections
If no Personal Representative has been appointed, with regard to the payment of any income tax,
gift tax, estate tax, inheritance tax, Generation Skipping Transfer Tax or any other tax due
because of my death, my Trustee shall have the right to make any available elections allowed
under the law or to sign and file any tax return. If a Personal Representative has been
appointed, the Personal Representative shall have the foregoing rights and duties.
Section 4. Payment of Death Taxes, Claims and Expenses
a. Payment Out of Trust Property
All death taxes, claims and expenses payable under the provisions of this Article
may be paid by my Trustee out of my Trust Estate except as specifically provided
for else\vhere in my Trust Agreement. Such payments may be allocated, partly
or wholly, in my Trustee's discretion, to income or principal; but, to income only
to the extent such allocation does not decrease any otherwise allowable federal
estate tax Charitable Deduction.
b. Exception for Property Passing Outside of My Trust
Notwithstanding Section 4.a of this Article, unless specifically directed otherwise
by another separate provision of my Trust Agreement, all death taxes, claims and
expenses attributable to assets passing outside of my Trust or my probate estate
shall be assessed against those persons receiving such property; provided,
however, that under no circumstances shall any transfer to any beneficiary that
qualifies for the federal estate tax Charitable Deduction cause the property
transferred or such beneficiary to bear any such taxes.
Section 5. Apportionment of Expenses, Claims and Taxes
Notwithstanding Section 4.a of this Article, unless specifically directed otherwise by another
separate provision of my Trust Agreement, all expenses, claims and taxes attributable to any
specifically distributed property shall be apportioned to the beneficiaries of such specific
distributions. Any distribution of specific trust property under my Trust Agreement shall pass
subject to all liens, mortgages or encumbrances attributable thereto.
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Section 6. Exception to Apportionment of Death Taxes
Notwithstanding any provision in my Trust Agreement to the contrary, it is IllY intent, and I
hereby direct, that to the extent practicable no death taxes shall be apportioned to or against any
part of Iny estate or the trusts or shares created by Iny Trust Agreement, or any beneficiary
thereof, which qualifies for the federal estate tax Charitable Deduction.
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Article Six
Specific Distributions of Trust Property
Section 1. Distributions Under Article Six
Except for the specific distributions directed in the following Sections of this Article Six, all
distributions of trust property shall be made in accordance with the Articles that follow.
Section 2. Income in Respect of a Decedent ("IRD")
After my death, except as to any specifically identified IRD asset directed to be distributed to
a beneficiary, my Trustee shall distribute a fraction of all iteITIs of IRD controlled by my Trust
to the beneficiaries of Iny Trust, by fractional designation, in the same proportions as such
beneficiaries share in the overall value of my Trust Estate by reason of other provisions of my
Trust Agreement.
Section 3. Estate Planning Letter or Memorandum
To the extent permitted by state law and not necessary to fully utilize a Deceased Trustor's
Unused Applicable Credit Equivalent, my Trustee shall distribute personal or household items
frOln lny Trust Estate to such persons as I may direct by a written instrument signed by lue and
delivered to my Trustee.
Section 4. Specific Distribution Not a Part of My Trust Estate
If the property making up any specific distribution set forth in this Article is not part of my
Trust Estate at the time such specific distribution is directed to be made and will not become a
part of my Trust Estate within a reasonable time, my Trustee shall disregard that specific
distribution.
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Section 5. Specific Distribution of Trust Property
My Trustee shall make the following specific distributions of trust property:
a. Specific Distribution of Cash to MARCUS O. HEDRICK
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $100,000.00 to Iny
brother, MARCUS O. HEDRICK, free of trust.
2. Distribution on Death of Beneficiary
If such beneficiary should die prior to the tinle that this specific
distribution is directed to be lTIade, this specific distribution shall
lapse and nlY Tlustee shall adnlinister this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, clailTIs, liens, enculubrances and taxes relative to this
specific distribution shall be paid by the beneficiary who receives
this specific distribution.
b. Specific Distribution of Cash to MARTHA LOUISE HEDRICK
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $100,000.00 to Iny
sister , MARTHA LOUISE HEDRICK, free of trust.
2. Distribution on Death of Beneficiary
If such beneficiary should die prior to the tinle that this specific
distribution is directed to be lllade, this specific distribution shall
lapse and IllY Trustee shall adluinister this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, clailns~ liens, enculnbrances and taxes relative to this
specific distribution shall be paid by the beneficiary who receives
this specific distribution.
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c. Specific Distribution of Cash to BONNIE R. SNYDER
1. Prinlary Beneficiary
Upon Iny death, my Trustee shall distribute $100,000.00 to
BONNIE R. SNYDER, free of trust.
2. Distribution on Death of Beneficiary
If such beneficiary should die prior to the till1e that this specific
distribution is directed to be nlade, this specific distribution shall
lapse and nlY Trustee shall adIninister this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, clailns, liens, enculllbrances and taxes relative to this
specific distribution shall be paid by the beneficiary who receives
this specific distribution.
d. Specific Distribution of Cash to JILL GUNZEL
1. Prinlary Beneficiary
Upon my death, my Trustee shall distribute $10,000.00 to JILL
GUNZEL, free of trust.
2. Distribution on Death of Beneficiary
If such beneficiary should die prior to the time that this specific
distribution is directed to be Inade, this specific distribution shall
lapse and Iny Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, clailns, liens, encunlbrances and taxes relative to this
specific distribution shall be paid by the beneficiary who receives
this specific distribution.
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e. Specific Distribution of Cash to EACH OF MY SURVIVING NIECES
AND NEPHEWS
1. Prinlary Beneficiary
Upon my death, my Trustee shall distribute $1,000.00 to EACH OF
MY SURVIVING NIECES AND NEPHEWS, free of trust.
2. Distribution on Death of Beneficiary
If any beneficiary should die prior to the tinle that this specific
distribution is directed to be 111ade, such specific distribution shall
lapse and 111Y Trustee shall adlninister this specific distribution in
accordance with the Articles that follow,
3. Apportionment of Expenses and Taxes
All expenses, clainls, liens, encunlbrances and taxes relative to this
specific distribution shall be paid by the beneficiary who receives
this specific distribution.
f. Specific Distribution of Cash to EACH OF MY SURVIVING GREAT
NIECES AND NEPHEWS
1. Primary Beneficiary
Upon Iny death, my Trustee shall distribute $1,000.00 to EACH OF
MY SURVIVING GREAT NIECES AND NEPHEWS, free of trust.
2. Distribution on Death of Beneficiary
If any beneficiary should die prior to the tilne that this specific
distribution is directed to be Inade, such specific distribution shall
lapse and IllY Trustee shall adlninister this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, clainls, liens, enculnbrances and taxes relative to this
specific distribution shall be paid by the beneficiary who receives
this specific distribution.
6-4
g. Specific Distribution of Cash to EACH OF MY SURVIVING GREAT
GREAT NIECES AND NEPHEWS
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $500.00 to EACH OF
MY SURVIVING GREA T GREAT NIECES AND NEPHEWS, free of trust.
2. Distribution on Deatb of Beneficiary
If any beneficiary should die prior to the titne that this specific
distribution is directed to be n1ade, such specific distribution shall
lapse and n1Y Trustee shall adlninister tlus specific distribution in
accordance with the Articles that follow.
3= Apportionment of Expenses and Taxes
All expenses, clain1s, liens, enculnbrances and taxes relative to this
specific distribution shall be paid by the beneficiary who receives
this specific distribution.
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""",-, ,
h.
~pecific Dish'ulUtlon 01 Cash tu IIARRlSEUR(; CIVIC CL~ :. ~/~;:;:;
1. Primary Beneficiary ;J;-/AdA-'{ _!
Upon my death, my Trustee shall distribute $10,000.00 to
HARRISBURG CIVIC CLUB, 612 North Front Street, HalTisburg,
Pennsylvania, free of trust.
2. Distribution on Death of Beneficiary
If such organization ceases to exist prior to the tin1e that this
specific distribution is directed to be 111ade, this specific distribution
shall lapse and Iny Trustee shall adlninister this specific distribution
in accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, clain1s, liens, enculnbrances and taxes relative to this
specific distribution shall be paid by the beneficiary \-vho receives
this specific distribution.
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i. Specific Distribution of Cash to BAUGHMAN :MEMORIAL UNITED
METHODIST CHURCH
1. Primary Beneficiary
Upon Iny death, my Trustee shall distribute $5,000.00 to
BAUGHMAN MEMORIAL UNITED METHODIST CHURCH, 228 Bridge
Street, New CU111berland, Pemlsylvania, free of trust.
2. Distribution on Death of Beneficiary
If such organization ceases to exist prior to the tinle that this
specific distribution is directed to be Illade, this specific distribution
shall lapse and Iny Trustee shall adnlinister this spec.ifie distribution
in accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claillls, liens, encunlbrances and taxes relative to this
specific distribution shall be paid by the beneficiary who receives
this specific distribution.
j. Specific Distribution of Cash to JOHNSON MEMORIAL
METHODIST CHURCH
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $3,000.00 to JOHNSON
MEMORIAL METHODIST CHURCH, Alderson, West Virginia, free of
trust.
2. Distribution on Death of Beneficiary
If such organization ceases to exist prior to the tinle that this
specific distribution is directed to be Inade, this specific distribution
shall1apse and Iny Trustee shall adlninister this specific distribution
in accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, clainls, liens, encu111brances and taxes relative to this
specific distribution shall be paid by the beneficiary who receives
this specific distribution.
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Article Seven
Retirement Trust and Common Pot Trust
Section 1. Creation of IRe Section 401(a)(9) Retirement Trust
At Iny death, my Trustee shall allocate to a separate trust to be known as the Retirement Trust,
all assets to be received by reason of any Beneficiary Designation. The Retirement Trust and
the assets so received shall be held, administered, divided and distributed according to the
provisions that follow.
Section 2. Creation of Cormnon Pot Trust
At IllY death, n1Y Trustee shall not create a Comn10n Pot Trust. All of nlY Trust Estate that has
not been distributed under prior provisions of my Trust Agreelllent shall be held, administered,
divided and distributed according to the provisions of the Articles that follow.
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Article Eight
Division and Distribution of Trust Property
Section 1. Division of Trust Property Into Shares
My Trustee shall divide, into separate shares, all of Iny Trust Estate not previously distributed
under the preceding AIiicles of n1Y Trust Agreelnent (and for purposes of detennining such
division and subsequent distributions shall take into account the exclusion of any descendant as
Inay be directed in Article One) as follows:
Beneficiarv Name
Share
VIRGINIA MADDOCK GUNZEL
1000/0
The trust shares shall be held, adlninistered and distributed as follows:
3. Distribution of Trust Share for VIRGINIA MADDOCK GUNZEL
The trust share set aside for VIRGINIA MADDOCK GUNZEL shall be held,
administered and distributed as follows:
1. Distributions of Net Income
My Trustee shall ilmnediately pay to, or apply for the benefit of,
such beneficiary, all net incolne frOln such beneficiary's trust share,
free of trust.
2. Distributions of Principal
:rvly Trustee shall in1l11ediately pay to, or apply for the benefit of:
such beneficiary, all principal fron1 such beneficiary's trust share,
free 0 f trust.
3. Distribution on Death of Beneficiary
If such beneficiary should die prior to the tin1e that a distribution
is directed to be Inade, such beneficiary's interest in such trust
share shall lapse and n1Y Trustee shall distribute the balance of the
trust share as provided in the Articles that follow.
8-1
Section 2. Distributions to Underage or Incapacitated Beneficiaries
Notwithstanding any provision to the contrary in this Article Eight and subject to Section 2 of
Article Twelve, if any beneficiary otherwise entitled to receive a distribution of trust property is
under the age of 25 years or is incapacitated, as defined in Article Twelve, Iny Trustee shall
retain and adIninister such beneficiary's trust share for such beneficiary's benefit pursuant to the
following provisions of this Article Eight:
a. Incapacitated Beneficiary
If such beneficiary's trust share is being held under this Section 2 due to such
beneficiary's incapacity (as defined in Article Twelve) then, only during the tenl1
of such incapacity, such beneficiary's trust share shall be administered according
to the Special Needs Provisions of ..A:..rticle T\velve. Upon the beneficiary's
regaining capacity (as deternlined under Article Twelve) the following provisions
of this Article Eight shall apply.
b. Underage Beneficiary
If such beneficiary's trust share is being held under this Section 2 due to such
beneficiary's being under the age of 25, such beneficiary's trust share shall be
adIninistered as follows:
1. My Trustee's Discretion
My Trustee shall pay to, or apply for the benefit of, such
beneficiary, so Illuch of the net inconle and principal of such
beneficiary's hust share as nlY Trustee, in 111Y Trustee's discretion,
deellls proper considering all other resources then known to be
available to such beneficiary.
2. Payments Made to Beneficiary or Personal Representative
My Trustee is authorized to nlake paynlents under this Section 2.b
directly to the beneficiary, to the beneficiary's Personal
Representative or to any other person my Trustee ITIay deenl proper
to be used for the benefit of the beneficiary.
3. Trustee's Decisions Are Final
All decisions by my Trustee as to whonl n1Y Trustee Inakes
payn1ents, the purposes for which payments are made and the
anlounts to be paid out of any trust share are within IllY Trustee's
discretion.
****
8-2
4. Undistributed Net Income
All undistributed net inconle shall be acculllulated and added to the
principal of the trust share.
Section 3. Ternlinatioll and Distribution as to Underage or Illcapacitated
Belleficiary
Unless distributions from a trust share are withheld pursuant to Section 1 of Article Twelve, IllY
Trustee shall distribute the trust share to the respective beneficiary of the share being held under
Section 2 of this Article Eight on the latest to occur of (i) the date upon which such beneficiary
reaches the age of 25 years, (ii) the times for distribution provided in the preceding Sections of
this Article Eight, if any, or (iii) when such beneficiary is no longer incapacitated, as detenllined
pursuant to the provisions of Article Twelve.
Sectioll 4. Death of Incapacitated or Underage Beneficiary
Subject to the provisions of preceding Sections of this Article Eight, if any beneficiary whose
trust share is being held in trust under such Sections dies before the complete distribution of such
beneficiary's trust share, the beneficiary's interest in such trust share shall lapse and my Trustee
shall distribute such beneficiary's trust share to such beneficiary's then living descendants, per
stirpes; or, if none, to my then living descendants, per stirpes. If I have no then living
descendants, Iny Trustee shall distribute such beneficiary's trust share as provided in the Articles
that follow.
Section 5. General Power of Appointlnel1t Over Certain Assets
If any separate share or trust established under this Article Eight shall terminate, or if a
beneficiary's interest therein lapses, upon the death of the beneficiary thereof, my Trustee shall,
anything herein to the contrary notwithstanding, distribute to such appointee or appointees who
are creditors of the estate of such deceased beneficiary, in such proportions and amounts as such
deceased beneficiary shall direct and appoint by such deceased beneficiary's last will and
testanlent referring specifically to this general power of appointnlent, those assets cOlnposing
such separate share or trust the transfer of which pursuant to the terms hereof, other than this
*~:**
8-3
Section 5, and assulning the nonexercise of any special testalnentary power of appointment
elsewhere herein conferred upon such deceased beneficiary, upon such termination would, but
for such general power, cause any tax under Chapter 13 of the Code to be payable. If such
deceased beneficiary shall fail in whole or in part to exercise such general power. then the assets
subject to such general power with respect to which such deceased beneficiary shall have failed
to exercise such general power shall be distributed as otherwise provided in my Trust
Agreement.
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8-4
Article Nine
Distribution If No Designated Beneficiaries
NONE
9-1
Article Ten
Trustee Administration
Section 1. Required Vote for Co-Trustees
a. Trustor Serving as Co-Trustee
Unless otherwise provided in nlY Trust Agreelnent, if I anl serving as a Co-Trustee
under lny Trust Agreenlent, I Inay nlake decisions and bind Iny Trust in the
exercise of all powers and discretions granted to lue as Trustee without the consent
of any other Trustee.
b. Unanimous Vote for Two Trustees
Other than when I anl serving as Co-Trustee, if only two Tlustees are serving,
they shall act unanilllously in the exercise of all powers and discretions granted
to theln under my Trust AgreeIllent.
c. Majority Vote for More Than Two Trustees
Other than when I aIn serving as a Co-Trustee, if lnore than two Trustees are
serving under illY Trust AgreeIllent, they shall act by Inajority vote and any
exercise of a power or discretion by a nlajority of the Trustees shall have the sanle
effect as an exercise by all of thenl.
d. Court Order Resolves Disputes
Other than when I an1 serving as a Trustee, if the Trustees are not able to reach
agreelnent on any decision as set forth in this Section 1, they shall petition a court
of conlpetent jurisdiction for instructions and shall take no action on the disputed
lnatter until a court order deciding the issue has been rendered.
Section 2. Po,ver to Delegate
Notwithstanding any other provision of nlY Trust Agreenlent, anyone or nlore of the Co-Trustees
serving under lny Trust AgreeInent lnay froln time to tilne delegate to another Co-Trustee or
Co- Trustees routine acts of trust adlninistration.
10-1
Section 3. No Bond Required
No Trustee specifically nanled under nlY Trust Agreenlent shall be required to post any bond for
the faithful perfonnance of such Trustee's responsibilities.
Section 4. Trustee Compensation
Other than when I anl serving as Trustee, nlY Trustee shall be entitled to reasonable c0111pensation
for services rendered. Such conlpensation is payable without the need of a court order. In
calculating the alllount of conlpensation, custolllary charges for siluilar services in the saIne
geographic area for the sanle tiule period shall be used as guidelines. Any corporate fiduciary
shall be entitled to receive cOlllpensation for its services in accordance with its published fee
schedule in effect [rOl11 tinle to tiIne and any truscee who is nOffilally c0111pensated on an hourly
basis shall be so conlpensated.
My Trustee shall also be entitled to reiIllbursenlent for reasonable costs and expenses incuITed
during the exercise of Iny Trustee's duties under nlY Trust Agreement.
Section 5. Change in Corporate Trustee
Any corporate successor to the trust business of any corporate trustee nalned under nlY Trust
Agreenlent, or acting hereunder, shall succeed to the capacity of its predecessor without re-
conveyance or transfer of trust property.
Section 6. Written Notice to Trustee
Untillny Trustee receives written notice of any death or other event which triggers the right to
paYluents fronl any trust or trust shares created under IllY Trust Agreement, Iny Trustee shall
incur no liability for distributions Inade in good faith to persons whose interests lllay have been
affected by such event.
Section 7. Duty to Account
My Trustee shall render accounts, upon request, to the il1COlne beneficiaries under lllY Trust
Agreelnent at least alulually, at the tenllination of a trust created hereunder and upon a change
in the Trustees in the Inanner required by law.
10-2
Section 8. No Court Supervision
No trust or trust share created under n1Y Trust Agreen1ent shall require the active supervision of
any state or federal court.
10-3
Article Eleven
Trustee Powers
Section 1. Powers
In addition to any power hereinafter specifically granted to IllY Trustee, it is IllY intention that
IllY Trustee have the power respecting property in IllY Trust Estate that an absolute owner of such
property would have. In accordance with such intention, any power IllY Tlustee needs to
adnlinister 111Y Trust Estate, which is not hereinafter listed, shall be considered as provided for
herein. All powers shall be exercised only in a fiduciary capacity. It is also IllY intention that
the Unifonn Prudent Investors Act and any similar enacted statute shall not apply to govern any
of IllY Trustee's actions. The principles of the prudent person rule shall apply to govenl the
actions of IllY Trustee.
a. Retention of Property
My Trustee shall have the power to retain any property received into nlY Trust at
its inception, or later added to my Trust, without regard to whether n1Y Trust
investments are diversified, as long as Iny Trustee considers that retention is in the
best interests of IllY Trust or is in furtherance of IllY goals in creating nlY Trust.
b. Additions
My Trustee shall have the power to receive additions to the assets of the various
trusts created under nlY Trust Agreelnent fronl any source.
c. Business Participation
My Trustee shall have, notwithstanding any overall effect on the fair nlarket value
of the property held in any trust or trust share, the power to fonT1, tenllinate,
continue or participate in Jhe operation of any business enterprise including a
corporation, a sole proprietorship, a general or lilnited partnership (as a general or
linlited partner) or a lilllited liability con1pany (as a ll1anaging or nOl1111anaging
ll1enlber) and to effect any fonn of incorporation, dissolution, liquidation or
reorganization, including, but not lilnited to, recapitalization and reallocation of
classes of shares or other changes in the f011.11 of the business enterprise or to lend
l110ney or nlake a capital contribution to any such business enterprise.
11-1
d. Make Investments
My Trustee shall have the power to invest and reinvest the assets of nlY Trust as
nlY Trustee may detemline to be in the best interests of nlY Trust without
linlitation by any law applicable to investInents by fiduciaries. The pennitted
investnlents and reinvestIuents Inay include securities such as conl1110n or prefeITed
stock, nlortgages, notes, subordinated debentures and wa1Tants of any corporation,
any conUl10n trust fund adnlinistered by a corporate fiduciary, other property, real
or personal, including savings accounts and deposits, interests in nlutual or lnoney
nlarket funds or investnlent trusts, aluluities and insurance whether or not such
investments are unsecured or of a wasting nature. Any corporate trustee is
authorized to invest in shares of an investnlent 1nanagelnent conlpany organized
under the Investnlent Conlpany Act of 1940 (coInnlonly known as a nlutual fund)
for which the corporate trustee serves as an investnlent advisor, custodian, or in
any other capacity, for relnuneration.
e. Life Insurance
My Trustee shall have the power to obtain, by purchase or by gift or by
conversion, reissue, consolidation or by any other nleans, and hold as an asset of
nlY Trust, policies of insurance on nlY life or the life of any other beneficiary of
Iny Trust. My Trustee is authorized and enlpowered to exercise, either before or
after Iny death, all of the rights, options, elections or privileges exercisable in
cOlmection with such policies. These rights and options shall include, but not be
linlited to, incapacity benefits, the right to borrow nloney with which to pay
prelniullls (or other charges) on any policy owned by nlY Tlust (including any
autolnatic prenliunl loan feature) or for any other trust purpose, the right to elect
aInong settlenlent options offered by the insurance company that issued such
policy, the right to convert such policy to paid-up insurance, extended term
insurance or to any different fonn of insurance, and the right to arrange for the
autoluatic application of dividends in reduction of prelniunl paynlents (or other
charges) with regard to any policy of insurance held in nlY Trust Estate.
Regarding any such policies:
1. I represent that any policies of life insurance currently
transfelTed into my Trust, or that will be transferred to my
Trust hereinafter or purchased at IllY direction, have been
selected (or will be selected) solely by 1ne based on IllY
study and evaluation of (a) the sufficiency of the policy to
ll1eet the goals of Iny Trust, (b) whether or not available
policy elections should be nlade, and (c) the current and
projected financial strength and viability of the cOInpany
issuing the policy.
11-2
2. My Trustee has Inade no representations to Ine concerning
these policies and none of IllY study and evaluation of the
policy or policies has been based on any representation by
Iny Trustee. Furthernlore, Iny Trustee is under no
obligation to exalnine such policies upon receipt or to Inake
subsequent or periodic evaluations of sanle. The obligations
to exaInine and evaluate shall reIllain exclusively with Ine.
3. In the event that I or any beneficiary hereunder shall at any
tilne (1) question the sufficiency of any life insurance
policy, (2) detennine that available policy elections should
be Inade, or (3) question the continued financial strength or
viability of the carrier, it shall be their absolute obligation
to infonn nlY Trustee of those facts in \vriting. 11y Trustee
shall be indenulified and held han11less for any actions
taken or not taken pertaining to any such policies held by
In y Trust.
f. Dealing With Property
My Trustee shall have the power to acquire, grant, hold in a safe deposit box or
dispose of real or personal property of all kinds including, but not lilnited to, puts,
calls and options (including options on stock), for cash or on credit, including
Inaintaining Inargin accounts with brokers, at public or private sale, upon such
terms and conditions as my Trustee 111ay deem advisable, and to nlanage, develop,
itnprove, exchange, partition, change the character of, or abandon property, or any
interest therein, or otherwise deal with real or personal property including, but not
lilnited to, the placing or releasing of liens and encun1brances on real or personal
property.
g. Environmental Compliance
Specifically, n1Y Trustee shall have the power to use and expend n1Y Trust incon1e
and principal to conduct envirolunental assessn1ents, audits, and site 1110nitoring
to detennine cOlnpliance with any envirolunentallaw or regulation thereunder; to
take all appropriate relnedial action to contain, clean up or relnove any
enviro1ID1ental hazard, including a spill, release, discharge or contan1ination, either
on lny Trustee's own accord or in response to an actual or tlu.eatened violation of
any envirol1111ental law or regulation thereunder; to institute legal proceedings
concelning environmental hazards or contest or settle any such legal proceedings
brought by any local, state or federal agencies concerned with envirollll1ental
cOlnpliance, or by a private litigant; to cOlnply with any local, state or federal
agency order, or court order directing an assesslnent, abateInent or cleanup of any
environlnental hazards~ to eInploy agents, consultants and legal counsel to assist
11-3
in or perfonn the above undertakings or actions; and, in general, to take all
appropriate actions to prevent, identify, or respond to any actual or threatened
violations of any environmental law or regulation thereunder.
No Trustee under IllY Trust Agreelnent shall be liable for any loss or depreciation
in value sustained by nlY Trust as a result of IllY Trustee retaining any property
upon V\Jhich there is later discovered to be hazardous materials or substances
requiring re111edial action pursuant to any federal, state or local envirolIDlentallaw
unless 111Y Trustee contributed to the loss or depreciation in value tlu'ough willful
default, willful nlisconduct, or gross negligence. Moreover, Iny Trustee shall not
be obligated to accept any property on behalf of Iny Trust without Iny Trustee first
having the opportunity to detennine, in nlY Trustee's discretion, that such property
is not contmninated by any hazardous or toxic nlaterials or substances, and that
such property is not being used and has never been used for any activities directly
or indirectly involving the generation, use, treatlnent, storage, disposal, release, or
discharge of any hazardous or toxic 111uterials or substances. Finally, my Trustee
shall have the power to disclainl any power that, in nlY Trustee's discretion, will
or nlay cause IllY Trustee to be considered an "owner" or "operator" of property
held in ll1Y Trust Estate under the provisions of the Con1prehensive Environnlental
Response, Compensation and Liability Act (CERCLA), as anlended froln tilne to
til11e. This power to disclailn, as contained herein, shall apply to any such power,
whether actually set forth under my Trust Agreelnent, incorporated by reference
herein, or granted or i111plied by any statute or rule of law.
b. Borrowing Authority
My Trustee shall have the power to borrow funds from any person, including nlY
Trustee; to guarantee indebtedness or indenlnify others in the name of nlY Trust
and to secure any such obligation by 1110rtgage (including, but not linlited to
reverse mOligages), pledge, security interest or other enculnbrance; and to renew,
extend or n10dify any such obligation for a ten11 within or extending beyond the
adnlinistration of the term of Iny Trust. No lender shall be bound to see to, or be
liable for, the application of the proceeds of any obligation and Iny Trustee shall
not be personally liable for any obligation unless such Trustee and the lender so
agree in writing.
i. Leasing Autbority
My Trustee shall have the power, with respect to real or personal property, to
Inake, renew or alnend for any purpose a lease, as lessor or lessee, for a tenn
within or beyond the tenll of my Trust with or without option to purchase.
11-4
j. Natural Resources
My Trustee shall have the power to enter into any arrangelnent or agreen1ent,
including a lease, pooling or unitization agreelllent for exploration, developn1ent,
operation, conservation and reITIoval of n1inerals or other natural resources.
k. Voting Rights
My Trustee shall have the power to vote a security in person or by general or
lilnited proxy; to participate in or consent to any voting trust, reorganization,
dissolution, liquidation or other action affecting any securities; and to deposit
securities with, and transfer title to, a protective or other conu11ittee.
l. Title to Assets
lvly Trustee shall have the po\ver to hold securities and other propeliy whether real
or personal and whether or not in negotiable fonn or in the nalTIe of a nOlninee
(including "street nalne" of a broker) or by deposit to a clearing corporation, with
or without disclosure of the Trustee relationship, but IllY Trustee shall be
responsible for the acts of any non1inee in the scope of the nOITIinee's authorized
actions with respect to such property or clearing corporation in cOIU1ection with
the property.
ID. Insurance
My Trustee shall have the power to insure the assets of my Trust against any risk,
and n1Y Trustee against liability, with respect to third persons.
D. Settlement of Disputes
My Trustee shall have the power to payor contest any debt or clain1; to
C0111prOn1ise, release and adjust any debt or clailn; and to SUblTIit any lnatter to
arbitration.
o. Payment of Expenses
My Trustee shall have the power to pay any taxes, assessn1ents, reasonable
con1pensation of IllY Trustee and other expenses incurred in the collection,
managen1ent, care, protection and conservation of my Trust Estate.
11-5
p. Principal and Income
My Trustee shall have the power to allocate receipts or expenditures to either
incon1e or principal and to create reserves out of incol11e as n1Y Trustee, in my
Trustee's discretion, deelns appropriate and n1Y Trustee's decision, made in good
faith with respect thereto, shall be binding and conclusive on all persons. This
power of allocation shall also apply to incon1e during adn1inistration of n1Y Trust
after n1Y death. InC0111e during adl11inistration after 1ny death is currently
distributable.
q. Distribution of Trust Property
My Trustee shall have the power to Inake any distribution or paYlnent in kind or
in cash) or partly in kind and partly in cash, and to cause any share to be
cOInposed of cash, property or undivided interests in property different in kind
fronl any other share, either pro rata or non pro rata, without regard to differences
in the tax basis of such property and without the requirelnent of Inaking any
adjustnlent of the shares by reason of any action taken pursuant hereto.
Any division, allocation, apportiolunent or valuation of trust property in order to
distribute the assets to or an10ng any of the trusts, shares or beneficiaries shall be
made by IllY Trustee, and the good faith deten11ination of Iny Trustee shall be
binding and conclusive on all parties. In order to n1axin1ize the benefits of n1Y
Unused Generation Skipping Tax Exel11ption Equivalent, Iny Trustee Inay consider
the inclusion ratio of any Trust, share or subshare when Inaking any distribution,
division, allocation or apportiolunent under n1Y Trust Agree111ent.
f. Litigation
My Trustee shall have the power to prosecute or defend actions, suits, claims or
proceedings for the protection or benefit of Iny Trust and my Trustee in the
perfonl1ance of my Trustee's duties.
s. Employment of Agents
My Trustee shall have the power to elnploy agents, including attorneys,
accountants, investnlent advisors, custodians, appraisers or others, including any
fin11 of which n1Y Trustee is a 111en1ber, to advise or assist IllY Trustee, to delegate
to then1 fiduciary powers and to indenmify thenl against liability for positions
taken in good faith and with reasonable basis.
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t. Corporate Fiduciary
If any stock of a corporate trustee that is IllY Trustee, or of any affiliate or
successor of such Tlustee, shall be included in the assets of 111Y Trust, 111Y Trustee
shall have full authority, in illY Tlustee's discretion, and notwithstanding any
regulation or rule of law to the contrary, to retain the stock and any increases
resulting from stock dividends and stock splits and fronl the exercise of purchase
rights and the purchase of fractional shares needed to round out fractional share
holdings that 111ay arise concerning the stock. My Trustee shall vote such stock
either directly or by proxy. However, to the extent nlY Trustee is prohibited by
law fronl voting such stock, 111Y Trustee shall vote in accordance with the written
instructions of a nlajority of the then living beneficiaries then entitled to current
distributions of inconle, or their Personal Representatives. In the event no
instruction is given, n1)' Trustee is authorized to vote the stock in the be3t interests
of the beneficiaries in view of the purposes for which n1Y Trust was created.
u. Investment Transactions
With regard to record keeping for investnlent transactions, 111Y Trustee need not
provide copies of confinnations or si1nilar notifications each tin1e a trade or
investn1ent transaction occurs, but inveslInent transactions shall be set forth in nlY
Trustee's periodic accounting.
v. Repairs and Improvements
My Trustee shall have the power to lnake ordinary or extraordinary repairs or
alterations in buildings or other structures, to delnolish any i111provelnents, and to
raze existing or erect new party walls or buildings or other structures.
w. Business Personnel
l\1y Trustee shall have the power to elect or eIl1ploy directors, officers, enlployees,
partners or agents of any business and to c0111pensate such persons, whether or not
any such person is a Trustee, director, officer, partner or agent of nlY Trustee or
a beneficiary of nlY Trust.
x. Farm or Ranch Property
With respect to farnl or ranch property, IllY Trustee shall have all necessary
powers to participate in and operate any famling (including tree farnling) or ranch
operation personally or with hired labor, tenants or sharecroppers, to lease any
fanl1 for cash or a share of crops under a lease that pennits or precludes the
n1aterial participation of Iny Trustee to fertilize and iU1prove the soil; to enlploy
conservation practices; to participate in govennnent progrmlls; and to perfonn any
11-7
other acts deenled by my Trustee necessary or desirable to operate the property.
In Iuaking a decision whether to nlaterially participate in farming or ranch
operations, nlY Trustee shall consider whether an election should be made or has
been nlade under Code Section 2032A to qualify for special fann-use valuation.
y. Ancillary Fiduciaries
If, for any reason, nlY Trustee deenls it advantageous to act tlu.ough an ancillary
fiduciary, my Trustee may designate an ancillary Trustee qualified to serve in the
jurisdiction where such ancillary fiduciary is to act and luay delegate to such
ancillary fiduciary such of the powers granted under IUY Trust Agreelnent as nlY
Trustee deelns advisable without being chargeable with loss, if any, arising out of
such designation or delegation. My Trustee Iuay specify whether any corporate
fiduciarY1 or any person or persons acting :in an ancillary capacity hereunder, shall
serve with or without bond. Except as nlay be othelwise specifically provided, no
such ancillary fiduciary need cOlnply with the provisions of any UnifoDll Trustee's
Accounting Act, the Unifoll11 Trust Act or sil11ilar acts in force in any state where
the fiduciary 111ay be acting.
z. Retention of Closely Held Interest
My Trustee shall have the power to retain any real estate interests, closely held
securities or affiliated companies or business interests, and to sell or dispose of
such interests only after careful consideration and after detennil1il1g that sale or
disposition is under the existing circumstances in the best interests of IUY Trust or
its beneficiaries.
aa. S Corporations
If at any tiIne Iny Trust holds any stock in an S corporation, and nlY Trustee
deenls it appropriate for such corporation to nlaintain its Subchapter S election, or
if Iny Trustee deems a Subchapter S election advisable for any corporation the
stock of which is held in IUY Trust, IllY Trustee luay take all of the necessary
actions as to such election and Inay segregate the S corporation stock, or other
corporation stock for which a Subchapter S election is to be made, fronl the other
assets of nlY Trust, and in nlY Trustee's discretion, and otherwise consistent with
the tenl1S of IllY Trust to the greatest extent possible, l11ay fonn new trusts and
Iuay anlend the tenllS of Iny Trust Agreelnent as would be necessary to establish
Qualified Subchapter S Trusts to hold the said S corporation stock and assets in
compliance with Code Sections 1361(b) and 1361(d)(3).
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bb. Exercise of Authority
Except as otherwise provided in nlY Trust Agreenlent, Iny Trustee shall have the
power to do all acts that might legally be done by an individual in absolute
ownership and control of property.
cc. Power to Divide or Combine Trusts
My Trustee shall have the power to divide a single trust or share thereof into
separate divisions, each to be adnlinistered in accordance with the tenl1S and
conditions of the single trust, fronl which they were created (or in accordance with
such tenl1S and conditions as they ll1ay be affected by my Trustee's power to
cOlnply with S Corporation requirelnents) when nlY Trustee, in Iny Trustee's
discretion, detennines that division is desirable or advisable in vie\v of tax
considerations, including considerations related to inCOlne tax, gift tax, inheritance
tax or generation skipping transfer tax or other objectives of the trusts and their
beneficiaries.
My Trustee shall not be required to Inake a physical segregation or division of the
various trust subdivisions created under Iny Trust Agreelnent except as segregation
or division 111ay be required by reason of the temlination and distribution of any
of the trust subdivisions, but nlY Trustee shall keep separate accounts and records
for different undivided interests.
My Trustee, in my Trustee's discretion, shall have the further power to con1bine
two or more trusts or trust subdivisions having substantially the sall1e tenns into
a single trust for purposes of adlninistration when tax or other factors indicate that
such cOlnbination would be desirable or advisable.
In deciding whether to cOlubine trusts or trust subdivisions, nlY Trustee shall
consider the generation skipping "inclusion ratio" of the trusts or bust subdivisions
to be cOlnbined. Trusts or trust subdivisions having the saIne inclusion ratios 11lay
be con1bined. Trusts or trust subdivisions having different inclusion ratios should
generally not be combined unless their inclusion ratios are lllaintained unchanged
through substantially separate and independent shares of different beneficiaries
within the meaning of Code Section 2654(b) and the applicable regulations
thereunder.
Specifically, unless there is a Personal Representative, Iny Trustee has the
authority to allocate any portion of IllY respective exelnptions under Code Section
2631 (a) to property as to which I an1 the respective transferor, including any
property transferred by lllyself during IllY lifetinle as to which I did not Inake an
allocation prior to ll1Y death. My Trustee also has the authority to n1ake the
special election under Code Section 2652( a)(3). If Code Section 2631 (a) or
11-9
2652( a)(3) is not interpreted as to allow a Trustee to exercise such election, then
a Personal Representative shall be appointed and is authorized to allocate nlY
respective exeInptions and to exercise the said special election.
If nlY Trustee considers that any distribution fronl a trust or trust subdivision
hereunder, other than pursuant to a power to withdraw or appoint, is a taxable
distribution subject to the federal Generation Skipping Transfer Tax payable by
the distributee, nlY Trustee Inay increase the distribution by an alnount that IllY
Trustee would estilnate to be sufficient to pay that tax and any additional tax
thereon, and shall charge the same against the trust or trust subdivision to which
the tax relates.
If nlY Trustee considers that any tenllination of an interest in IllY Trust or a trust
subdivision hereunder is a taxable tennination subject to the federal Generation
Skipping Transfer Tax, nlY Trustee may pay that tax froll1 the portion of the
property to which the tax relates \vithout any adjustnlent of the relative interests
of the beneficiaries.
dd. Termination of Small Trust
If at any tinle after my death the costs of adIninistration of IllY Trust (or any share
thereof) are of such an atll0unt in relation to the then principal and undistributed
inconle of my Trust (or any share thereof) that nlY Trustee, in my Trustee's
discretion, detenllines that nlY purposes in establishing my Trust (or any share
thereof) would no longer be served, and if Iny Trustee deenls it advisable to
distribute the then principal and undistributed inconle of nlY Trust (or any share
thereof) to the then living beneficiary or beneficiaries, 111Y Trustee (other than any
then current beneficiary of Iny Trust who, if then serving as a Trustee, may
appoint an Independent Trustee to serve only for the purpose of determining the
advisability of tenninatiou in such Independent Trustee's sole discretion) may do
so without responsibility on the part of nlY Trustee. Such a distribution on behalf
of a beneficiary under a disability, in nlY Trustee's discretion, Inay be nlade to the
Guardian of the person of such beneficiary, or to the parent of such beneficiary,
if such beneficiary is a Iniuor, or nlay be applied by my Trustee for such
beneficiary's benefit.
ee. Power to Subject Trust Property to Probate
It is IllY intention to avoid probate through the use of illY Trust. If, however, nlY
Trustee and Personal Representative nlutually detennine that it shall be in the best
interests of the beneficiaries of my Trust, and the beneficial interests of the
beneficiaries shall not thereby be altered, nlY Trustee nlay subject any asset to
probate to accomplish a result unavailable without probate. This power shall be
strictly construed and shall only be used to secure any tax or other benefit
11-10
otherwise unavailable to nlY Trust. Accordingly, other than a distribution that
would cause a Charitable Deduction to fail, nlY Trustee, in Iny Trustee's
discretion, 111ay accolnplish this objective by distributing such property to nlY
estate.
ff. Power to Change Situs
My Trustee shall have the power, exercisable by a written instrulnent signed and
aclulowledged by IllY Trustee, to change the situs of any trust or trust share held
by nlY Trustee; and, in conjunction with any such change and without any need
to obtain the approval of any court, to elect that such trust or tnlst shall be subject
to the jurisdiction of the new situs. In addition, nlY Trustee Inay l1love the assets
of such trust or trust share to the location of the new situs. The Ineaning and
effect of the provisions of 11lY Trust A.greenlent shall be c.onstrued in accordance
with the laws of the governing state identified in Section 13 of Article Twelve,
and each trust or tnlst share shall be adlninistered in accordance \vith the la\vs of
the applicable situs. In no event, however, Inay this power be exercised in a
Inanner that would prevent a trust or trust share frOlTI qualifying as a pennitted
shareholder of S corporation stock for federal incolne tax purposes.
gg. Release of Trustee Powers
Each Trustee who detennines it to be in the best interest of any beneficiary nlay,
at any tiIne, by instrument executed with all the fonnalities of a deed and
delivered personally or sent by certified nlail to another then acting Trustee, if
any, or to SaIne beneficiary of the affected Trust or Trusts, release and relinquish
or disclaim upon any tenns, either in whole or in part, telnporarily or pelmanentIy,
revocably or irrevocably, with or without binding successors, anyone or more of
the powers, rights, authorities, and discretions confen'ed upon such Trustee by any
provision or provisions of Iny Trust Agreelllent or generally pursuant to law,
which release and relinquisluncnt or disclainler shall be binding on all affected
beneficiaries. If the relea~e and relinquislunent or disclainler of a power, right,
authority, or discretion is Inade by less th~nl all of the Trustees upon whonl it is
confen.ed, such power, right, authority, or discretion shall continue to be
exercisable in full by the Trustee or Trustees (other than any successor Trustees
on whom it is, by its tenns, binding) who have not thus released and relinquished
or disclaimed it.
11-11
Article Twelve
General Provisions
Section 1. Spendthrift Protection
Neither the principal nor the incolne of any trust created or contained under Iny Trust Agreelnent
shall be liable for the debts of a beneficiary nor shall the saIne be subject to seizure by any
creditor of any beneficiary under any lien or proceeding at law or equity. Except to the extent
otherwise expressly provided in Iny Trust Agreelnent, no beneficiary shall have the authority or
power to sell, assign, transfer, el1cul1lber or in any nlamler to dispose of a beneficial interest,
whether inconle or principal. The liInitations herein shall not restrict the exercise of any power
of appointIllent or the right to disclainl by any beneficiary.
In addition and subject to the provisions of Section 2 of this Article, if nlY Trustee, at a tinle that
any distribution to any beneficiary other than Ine is directed to be nlade under the provisions of
IllY Trust Agreement, in such Trustee's sole discretion, detennines that reliance on govenllllent
benefits, illness, substance dependency, bankruptcy, litigation or any factor tending to dinlinish
the ability of a beneficiary to fully benefit from a distribution or to handle financial affairs exists,
nlY Trustee Illay withhold any such directed distribution and Inay extend the term of Iny Trust
as to any portion of nlY Trust Estate otherwise allotted for any so affected beneficiary.
Thereafter, Iny Trustee Illay continue to distribute income or principal to such beneficiary as Iny
Trustee nlay detel1lline in nlY Trustee's sole discretion. If nlY Tnlstee withholds distributions to
prevent a loss of, or ineligibility for, govenmlent benefits, the Special Needs Provisions of this
Article Twelve shall apply to such trust property.
Section 2. The Rule Against Perpetuities
Notwithstanding any other provisions of my Trust Agreelnent, unless sooner tenninated or vested
in accordance with other provisions of IUY Trust Agreelnent, all interests not otherwise vested,
including, but not linlited to, all trusts and powers of appointIuent created hereunder, shall
tenninate one day prior to twenty-one (21) years after the death of the last survivor of the group
COl1lposed of nle, those beneficiaries described herein and Iny lineal descendants living on the
date nlY death. At that tilue, distribution of all principal and all accrued, accunlulated and
undistributed incollle shall be nlade to the persons (or their representatives as authorized herein)
then entitled to distributions of incoIne or principal and in the Inal11ler and proportions herein
stated irrespective of their then attained ages.
12-1
Section 3. Incapacity and CompetellC)T
A person shall be considered incapacitated in the event such person has been detennined to be
so by a court of cOlnpetent jurisdiction; has been certified by two licensed physicians to be unable
to properly handle his or her own affairs by reason of physical illness or nlental illness; or
otherwise is unable freely to cOlnnlunicate for a period of 90 days. A person shall be considered
to have regained capacity upon such a detennination by a court of cOlnpetent jurisdiction, or upon
certification by two licensed physicians that the person is able to properly handle his or her own
affairs or is able to freely conlnlunicate. The tenn "incapacity" is intended to be interchangeable
with the ten11S "disability" and "inconlpetency". The tenn "conlpetent" in n1Y Trust Agreenlent
refers to a person who is not incapacitated. Notwithstanding the preceding provisions of this
Section, for purposes of adluinistration under Articles Six, Seven and Eight of lny Trust
Agreelnent, the tenn "incapacitated" also refers to any beneficiary receiving or eligible to receive
govenunent benefits.
Section 4. Income and Principal Payments
Other than as directed in the Special Needs Provisions of this Article, all paYlnents of incollle or
principal shall be ll1ade in such of the following ways as n1Y Trustee deten11ines appropriate:
a. To each respective beneficiary in person upon his or her personal receipt;
b. Deposited in any bank to the credit of such beneficiary in any account
carried in his or her nanle or jointly with another or others;
c. To the parent or legal representative of the beneficiary;
d. To a Custodian under a Unifonn Transfers to Minors Act or Unifonn Gifts
to Minors Act selected by n1Y Trustee for such period of tilne under
applicable law as lny Trustee deten11ines appropriate;
e. To sonle near relative, friend or institution having primary responsibility
for the care and custody of the beneficiary;
f. By n1Y Trustee using such paynlent directly for the benefit of such
beneficiary; or
g. To the Trustee of any revocable trust of which the beneficiary is the
Trustor.
12-2
Section 5.
Limit on Trustee's Discretion
Notwithstanding any other provision in 111Y Trust Agreelnent, other than llle, no individual Trustee
who is also a beneficiary hereunder ("Trustee-beneficiary") shall have any right, power, duty or
discretion concellling IllY Trust Estate if such right, power, duty or discretion conferred upon such
Trustee-beneficiary under nlY Trust Agreenlent would constitute a general power of appoinllnent
under Code Section 2041 or 2514 that would cause any assets of IllY Trust Estate to be included
in the estate of such Trustee-beneficiary. Any such right, power, duty or discretion with such
effect shall be null and void with respect to such Trustee-beneficiary. No Trustee who is under
a legal obligation to any beneficiary of IllY Trust Agreenlent or other person shall under any
cirCUlnstances partake in any decisions relating to any discretionary distributions of income or
principal of IllY Trust Estate that can be used to discharge any such legal obligation of such
Trustee.
If however, such powers nlay be possessed without violating the restrictions ilnposed by this
Section 5 by either ll1Y Trustee jointly with an Independent Trustee, or by an Independent Trustee
alone, then nlY Trustee nlay appoint an Independent Trustee who Inay possess those powers and
authorities without violating this Section. Such an Independent Trustee shall act jointly with nlY
Trustee whenever the joint possession of a power or authority would not violate the restrictions
iInposed by this Section. Such an Independent Trustee shall act alone whenever only sole
possession of a power or authority would not violate the restrictions inlposed by this Section.
Section 6.. No-Contest Clause
If any person or entity, other than Illyself, singularly or in conjunction with any other person or
entity, directly or indirectly, contests in any court the validity of Iny Trust Agreelnent, including
any aInendlnents thereto, then the right of that person or entity to take any interest in the Trust
Estate or to act in any fiduciary capacity shall cease, and the denlise of that person (and his or
her descendants) or entity shall be deemed to have occun-ed prior to Illine.
Section 7. Disclaimer by Beneficiary
Any beneficiary under nlY Trust AgreeIllent shall be entitled to disclainl all or any portion of such
beneficiary's interest in nlY Trust.
12-3
Section 8. Captions
The captions of Articles, Sections and Paragraphs used in nlY Trust Agreelnent are for
convenience of reference only and shall have no significance in the construction or interpretation
of Iny Trust Agreement.
Section 9. Severability
Should any of the provisions of IllY Trust Agreenlent be for any reason declared invalid, such
invalidity shall not affect any of the other provisions of nlY Trust Agreelnent, and all invalid
provisions shall be wholly disregarded in interpreting nlY Trust Agreel11ent.
Section 10. Statutory References
Unless the context clearly requires another construction, each statutory reference in IllY Trust
Agreelnent shall be construed to refer to the statutory section Inentioned, related successor
sections, and corresponding provisions of any subsequent law, including all anlendnlents.
Section 11. Survivorship
a. Simultaneous Deaths
If any beneficiary under my Trust Agreelnent and I die under circull1stances in
which the order of deaths cannot be established, I shall be deemed to have
survived the beneficiary and n1Y Trust Agreement shall be construed accordingly.
b. Generation Skipping Transfer Tax l\1atters
A.. person (the "Non-Skip Person") shall not be deenled to have been alive on the
date of the death of any person upon whose death a transfer is deemed to occur
for Generation Skipping Transfer Tax purposes or the date of any distribution
fronl or any termination of any interest in any trust or share under my Trust
Agreement for which the date of the Non-Skip Person's death is relevant ("the
Transfer Date") if: (a) the Non-Skip Person is actually alive on the Transfer Date;
(b) the Non-Skip Person is not actually alive on the date ninety (90) days
following the Transfer Date; and (c) the existence of such a condition of
survivorship causes another person who would otherwise be assigned to a
generation below that of the Non-Skip Person to be assigned to the generation of
the Non-Skip Person for Generation Skipping Transfer Tax purposes.
12-4
.. ,I
Section 12. Gender and NUluber
In my Trust Agreement, where appropriate, except where the context otherwise requires, the
singular includes the plural and vice versa, and words of any gender shall not be linlited to that
gender.
Section 13. Governing Commonwealth Law
My Trust Agreement and the trusts created under it shall be construed, regulated and governed
by and in accordance with the laws of the Commonwealth of Pennsylvania.
Section 14. Relialice on Certificate of Trust
Any person may act in reliance upon a properly issued certificate of trust ret1ecting the relevant
terms of my Trust Agreement without risk of incurring any liability to the Trustor, Trustees and
beneficiaries of Iny Trust.
Section 15. Definitions
The following terms as used in my Trust Agreement are defined as indicated:
a. Beneficiary Designation
The term "Beneficiary Designation" means any doculnent executed by a Trustor
that affects the manner of payment of amounts held in a plan (of whatever type)
subject to the distribution rules of section 401(a)(9) of the Code or any
commercial annuity or any similar deferred payment arrangement.
b. Child, Children, Issue and Descendants
The tenns "child" or II children" mean lawful blood descendants in the first degree
of the parent designated; and "issue" and "descendants" mean the lawful blood
descendants in any degree of the ancestor designated; provided, however, that if
a person has been adopted, that person shall be considered a child of such
adopting parent or parents, and such adopted child and his or her issue shall be
considered issue of the adopting parent or parents and of anyone who is by blood
or adoption an ancestor of the adopting parent or either of the adopting parents.
The terms "child," "children," "issue," "descendant" and "descendants" or those
terms preceded by the terms "living" or "then living" shall include the lawful
blood descendant in the appropriate degree of the ancestor designated even though
12-5
.... [\
such descendant is born after the death of a parent. Notwithstanding the
preceding provisions of this Section I5.b, the terms of Article One ll1ay exclude
certain descendants from being treated as such by restricting the availability of
Trust benefits.
c. Code
The tenn "Code" means the Internal Revenue Code of 1986, as amended from
time to time. The terms "Income In Respect of a Decedent", "Gross Estate,"
"Taxable Estate", "Applicable Credit Amount", "State Death Tax Credit",
"Credit for Prior Transfers", "Exclusion ", "Disclaimer", "Marital Deduction" and
any other terms that, from the context in which they are used, refer to the Code
shall have the same meaning as such terms have for the purposes of applying the
Code to my Trust Agreement.
d. Deceased Trustor
The term "Deceased Trustor" nleans a Trustor who has died.
e. Death Taxes
The term "Death Taxes" means all inheritance, estate, succession and other
similar taxes that are payable by any person on account of that person's interest
in the estate of the decedent or by reason of the decedent's death, including
penalties and interest but excluding the following:
1. Any additional tax that may be assessed under Internal
Revenue Code Section 2032A and 2033A; and
2. Any federal or state tax imposed on a generation skipping
transfer, as that term is defined in the federal tax laws,
unless that Generation Skipping Transfer Tax is payable
directly out of the assets of a trust created by my Trust
Agreement.
f. Education
The tenn "education" shall be given broad interpretation and Inay include but not
be liInited to:
1. High School
Education at public or private elelnentary or high schools, including
boarding schools.
12-6
. "
2. College
Undergraduate and graduate study in any and all fields whatsoever,
whether of a professional character in colleges or other institutions
of higher leanling.
3. Specialized Training
Specialized fonllal or infonnal training in nlusic, the stage,
handicrafts, the arts, or vocational or trade schools, whether by
private instruction or otherwise.
4. Other Educational Activities
Any other activity including foreign or donlestic travel that shall
tend to develop fully the talents and potentialities of each
beneficiary regardless of age.
g. Heirs at Law
References to SOlneone's "heirs at law" nlean individuals who are living at the
event when property is directed to be distributed to theln. Those individuals'
identities and the shares of the distributable property that they each receive shall
be detenl1ined under the intestacy laws of the COnllTIOnwealth of Pennsylvania
which then govern the distribution of the personal property of a resident dying
then, without creditors, owning only the distributable assets.
h. Independent Trustee
The tenn "Independent Trustee" 111eans a Trustee who is an independent person
who, within the nleaning of Code section 672( c), is not related or subordinate to
any beneficiary of my Trust.
i. Personal Representative
The tenn IIPersonal Representative" l11eans trustee, executor, executrix,
adluinistrator, adluinistratrix, conservator, guardian, custodian or any other type
of personal representation.
j. Per Stirpes
In every case in which a disposition of an interest is to be nlade to the issue of a
person "per stirpes," it is intended that such disposition shall be lnade in
accordance with the principle of representation. This principle in relation to Iny
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. . I
Trust Agreenlent means that whenever property is to be distributed to the issue of
a person, such property shall be divided into as Iuany shares as there are, at the
time of disposition, living issue in the nearest degree of kinship to such person and
then deceased issue in the sanle degree who left issue who are then living; each
then living issue in the nearest degree receiving one share, and the share of each
then deceased issue in the saIne degree being divided anlong his or her issue in the
saIne lnanner.
k. Retirement Account/Retirement Benefits
The tenns "Retireluent Account" and "Retireluent Benefits" Inean any deferred
paYlnent account, whether or not considered a qualified plan under sections 401,
403, 408 or any other section of the Code, under which by reason of fiduciary
accounting principles income is considered eanled but not ilnmediately payable,
l. Trust Estate
The tenll "Trust Estate" nleans all of the property, real and personal, intangible
and tangible, that has been transfelTed to IUY Trustee, whether or not listed on any
Schedules.
m. Trustee's Discretion
The telID "discretion" with regard to a Trustee nleans such Trustee's sole but
reasonable judgInent. In exercising any discretionary power with respect to nlY
Trust, IllY Trustee shall at all tillles act in accordance with fiduciary principles and
shall act reasonably under the circumstances and not in bad faith or in disregard
of the purposes of Iny Trust.
ll. Trustor
The ternl "Tnlstor" shall be interchangeable with the tenns "settlor", "grantor",
"donor" or other similar terms.
o. Unused Generation Skipping Tax Exemption Equivalent
The tenTI "Unused Generation Skipping Tax Exelnption Equivalent" means the
Generation Skipping Transfer Tax Exenlption provided in section 2631 of the
Code in effect at the tiIne of death of a Trustor, reduced by the aggregate of (1)
the an1ount, if any, of such exelnption allocated by such Trustor or by operation
of law to such Trustor's lifetinle transfers and (2) the aIll0unt, if any, such Trustor
or such Trustor's Personal Representative or Trustee has specifically allocated to
property other than property to which such exel11ption is directed to be allocated
by any applicable provision of nlY Trust Agreell1ent.
12-8
.. I. ·
For purposes of Iny Trust Agreen1ent, if at the tin1e of death of a Trustor sUQh
Trustor has nlade lifetinle transfers of property to which an inclusion ratio of
greater than zero would be applicable and for which the gift tax retun1 due date
has not expired (including extensions) and a return has not yet been filed, it shall
be deelned that the generation skipping transfer exenlption has been allocated to
such transfers to the extent necessary and possible to exelllpt such transfers fronl
Generation Skipping Transfer Tax.
p. Unused Applicable Credit Equivalent
The tenn "Unused Applicable Credit Equivalent" Ineans that value of a Deceased
Trustor's taxable estate detennined without regard to the Marital Deduction that
can be transferred at death without causing any federal estate tax liability because
of:
1. Any available P.~pplicable Credit A1nount
(Unified Credit),
2. The Credit for State Death Tax to the extent
it does not increase the alnount of death
taxes payable to any state,
3. The Credit for Prior Transfers,
4. Allowable Exclusions froln the Taxable
Estate,
and that is in excess of the net value of all property includable in the taxable
estate of a Deceased Trustor that does not qualify for the Marital Deduction or any
other deduction; whether that value passes outside of nlY Trust (by way of joint
tenancy, life insurance contract, Beneficiary Designation, will or otherwise) or
under other provisions of my Trust.
Section 16. Special Needs Provisions
a. Overall Limitation on Distribution
It is lny intention that the assets of IllY Trust Estate supplelllent but not supplant,
inlpair or diminish any then existing f01111S of support or benefit which the
beneficiary is receiving or becolnes eligible to receive. For purposes of this
Section, the term "support" 11leans food, clothing or shelter. The tenns of my
Trust Agreelnent shall be read and interpreted to prevent any action by my Trustee
which would supplant in1pair, dinlinish or otherwise interfere with, lilnit or reduce
12-9
... , l' .
the beneficiary's receipt of, or eligibility for any fonn of govenllnent or private
benefits. Any power of distribution (whether or not exercised), granted 111Y
Trustee pursuant to the tenns of nlY Trust Agree111ent, that would result in the
loss, dinlinishnlent or ineligibility for govenunent or private benefits, is hereby
revoked; and, only such powers as will not result in ineligibility for such benefits,
or loss, dilninislunent or ilnpainl1ent, thereof, shall renlain exercisable by lny
Trustee.
b. Special Needs
For purposes of lny Trust Agreement, the tenl1 "Special Needs' refers to
supplelnental, non-support expenditures frolll IllY Trust's assets that, pursuant to
the other provisions of this Section, IllY Trustee is authorized to disburse, in IllY
Trustee's sole and absolute discretion. Special Needs, subject to the general
supplemental, non-support lilllitation, include, but are not liluited to, nledical,
dental, diagnostic or therapeutic treatment, or nursing or h0111e care services for
which the beneficiary is not receiving, and is not eligible to receive govenUllent
or private benefits. Special Needs also includes the differential between any
treatnlent, service or care that the beneficiary is receiving fronl any govenUllent
or private source and the level of treatInent, service or care my Trustee deenls
appropriate for the beneficiary. Disbursements for education, travel (including
travel by those my Trustee believes the conlpanionship of which will benefit the
beneficiary), entertainlnent devices or events and electronic devices are also to be
considered Special Needs.
c. Distribution of Income or Principal
1. Distributions for Special Needs
Subject to the provisions of Section 16.a of this Article that
prohibit illY Trustee fronl 11laking any distribution which would
supplant, inlpair or diminish govenunent or private benefits, or
cause the beneficiary to be ineligible for such benefits, as
detennined in my Trustee's sole and absolute discretion, nlY
Trustee nlay distribute such alnounts of incolne or principal for the
Special Needs of the beneficiary. My Trustee 111ay act arbitrarily
and without regard to any statutes or other rules of law in refusing
to disburse trust assets. No distributions Inay be illade to the
beneficiary. Any distributions made shall be Inade to the goods or
services provider.
12-10
.. ~. .
2. Accumulated Income
Any inconle not distributed shall be accunlulated and added to
principal.
3. Resources of the Beneficiary
My Trustee, in exercising discretion under this Section, shall
consider all inconle or resources available to the beneficiary. The
beneficiary has no rights to any distributions under nlY Trust.
4. Treatment of Any Residence Held by IVIy Trust
Mv Trustee nlav charge the beneficiary rental on any residelJCe
-' .., "".... .,J ....
owned by 111Y Trust. My Trustee ll1ust charge rent if the failure to
do so would ilnpair, dinlinish, or cause ineligibility for, any
govenllnent or private benefits.
5. Rights of Creditors and Others
My Trust assets are not intended to be used for the support of the
beneficiary, but are only intended to suppleInent, in Iny Trustee's
sole and absolute discretion, resources, inconle or govenllnent or
private assistance available to the beneficiary. No part of Iny Trust
Estate, neither principal nor inconle, shall be subject to anticipation
or assignnlent by the beneficiary, nor be subj ect to attaclllnent by
any creditor of the beneficiary, govenmlental agencies or any other
individual or entity; including any who Inay have provided goods
or services to the beneficiary.
6. Power to Terminate My Trust
If nlY Trustee deeIns it necessary to tenninate Iny Trust to avoid
i111pairing or dinlinishing the beneficiary's receipt of govenUllent or
private benefits, or beconling ineligible for such benefits, 111Y
Trustee, in Iny Trustee's sole and absolute discretion, shall
terminate my Trust. If Iny Trustee tenninates nlY Trust, the assets
of lllY Trust shall be held, adnlinistered and distributed pursuant to
Section 16.c.7 of this Article as though the beneficiary had died.
I request, but do not require, that the reInainder beneficiaries
consider the purposes of lllY Trust in expending the property they
receIve.
12-11
'" r~' .
7. Distributions on Death of Beneficiary
Unless provided otherwise under the provisions of preceding
Articles, if the beneficiary dies while nlY Trustee still holds trust
assets, nlY Trust shall ternlinate and IllY Trustee shall distribute the
balance of IllY Trust Estate to the beneficiary's then living
descendants, per stirpes.
If the beneficiary has no then living descendants, IllY Trustee shall
distribute the balance of nlY Trust Estate to IUY then living
descendants, per stirpes.
If I have no then living descendants, nlY Trustee shall distribute the
balance of lJ1Y Trust as provided in ATtir.le Nine of IllY Trust
AgreeInent.
Subject to the other provisions of this Section, IllY Trustee Inay pay
for the expenses of the beneficiary's last illness and funeral.
I have executed nlY Trust Agreelnent by facsinlile signature on the date set forth on the first page
of IllY Trust Agreen1ent.
I certify that this facsinlile signature was nlade in the presenceof two witnesses who have signed
their nanles to this Trust Agreenlent in IllY presence.
I understand IllY Trust Agreenlent and that it correctly states the tenns and conditions under
which IllY Trust Estate is to be held, nlanaged and disposed of by Iny Trustee. I approve this
revocable living trust in all particulars and request Iny Trustee to execute it.
Trustor:
-
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FREDDA H. MARTIN
Trustee:
Trustee:
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FREDDA H. MARTIN
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BONNIE R. SNYDER
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12-12
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COMMONWEALTH OF PENNSYLVANIA
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In witness whereof I hereunto set my hand and official seal.
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COMMONWEALTH OF PENNSYLVANIA
SS
In witness whereof I hereunto set IllY hand and official seal.
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Notary Public
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12-13
The First .l~mendment
to the
Fredda H. Martin Living Trust
On March 22, 1999, I, Fredda H. Martin, signed the Fredda H. Martin Living Trust, more
formally lmown as:
Fredda H. Martin and Bonnie R. Snyder, Trustees, or their successors in trust, under
the Fredda H. Martin Living Trust, dated March 22, 1999, and any amendments
thereto
Pursuant to Article Four of my Living Trust, which permits me to amend my Living Trust
in writing at any time, I now wish to amend my Living Trust as follows:
Article Six of my Living Trust is hereby revoked in its entirety and amended as follows:
Specific Distributions of Trust Property
Section 1. Distributions Under Article Six
Except for the specific distributions directed in the following Sections of this Article Six, all
distributions of trust property shall be made in accordance with the i~.rticles that follow.
Section 2.
Income in Respect of a Decedent ("IRD")
.After my death, except as to any specifically identified IRD asset directed to be distributed to a
beneficiary, my Trustee shall distribute a fraction of all items of IRD controlled by my Trust to the
beneficiaries of my Trust, by fractional designation, in the same proportions as such beneficiaries
share in the overall value of my Trust Estate by reason of other provisions of my Trust Agreement.
Section 3.
Estate Planning Letter or Memorandum
To the extent permitted by state law and not necessary to fully utilize a Deceased Trustor1s Unused
Applicable Credit Equivalent, my Trustee shall distribute personal or household items from my
Trust Estate to such persons as I may direct by a written instrument signed by me and delivered to
my Trustee.
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Section 4.
Specific Distribution Not a Part of My Trust Estate
If the property making up any specific distribution set forth in this Article is not part of my Trust
Estate at the time such specific distribution is directed to be made and will not become a part of my
Trust Estate within a reasonable time, my Trustee shall disregard that specific distribution.
Section 5. Specific Distribution of Trust Property
My Trustee shall make the following specific distributions of trust property:
a. Specific Distribution of Cash to MARCUS O. HEDRICK
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $100,000.00 to my
brother, MARCUS O. HEDRICK, free of trust.
2. Distribution on Death of Beneficiary
If such beneficiary should die prior to the time that this specific
distribution is directed to be made, this specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances and taxes relative to this
specific distribution shall be paid by my Trustee out of my trust
estate.
b. Specific Distribution of Cash to MARTHA LOUISE HEDRICK
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $100,000.00 to my
sister, MARTHA LOUISE HEDRlCK, free of trust.
2. Distribution on Death of Beneficiary
If such beneficiary should die prior to the time that this specific
distribution is directed to be made, this specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances and taxes relative to this
specific distribution shall be paid by my Trustee out of my trust
estate.
c. Specific Distribution of Cash to BONNIE R. SNYDER
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $100,000.00 to
BONNIE R. SNYDER, free of trust.
2. Distribution on Death of Beneficiary
If such beneficiary should die prior to the time that this specific
distribution is directed to be made, this specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances and taxes relative to this
specific distribution shall be paid by my Trustee out of my trust
estate.
d. Specific Distribution of Cash to JILL GUNZEL
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $10,000.00 to JILL
GUNZEL, free of trust.
2. Distribution on Death of Beneficiary
If such beneficiary should die prior to the time that this specific
distribution is directed to be made, this specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances and taxes relative to this
specific distribution shall be paid by my Trustee out of my trust
estate.
e.. Specific Distribution of Cash to EACH OF MY SURVIVING
NIECES AND NEPHEWS
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $1,000.00 to EACH OF
MY SURVIVIN"G NIECES AND NEPHEWS, free of trust.
2. Distribution on Death of Beneficiary
If any beneficiary should die prior to the time that this specific
distribution is directed to be made, such specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances and taxes relative to this
specific distribution shall be paid by my Trustee out of my trust
estate.
f. Specific Distribution of Cash to EACH OF :MY Su~VIVING
GREAT NIECES AND NEPHEWS
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $1,000.00 to EACH OF
MY SlJRVIVING GRE..A.T NIECES A1~TI NEPHEWS, free of trust.
2. Distribution on Death of Beneficiary
If any beneficiary should die prior to the time that this specific
distribution is directed to be made, such specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances and taxes relative to this
specific distribution shall be paid by my Trustee out of my trust
estate.
g. Specific Distribution of Cash to EACH OF l\1Y SlJRVIVING
GREAT GREAT NIECES AND NEPHEWS
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $500.00 to EACH OF
MY SURVNING GREAT GREAT NIECES }\J.'ID NEPHEWS,
free of trust.
2. Distribution on Death of Beneficiary
If any beneficiary should die prior to the time that this specific
distribution is directed to be made, such specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances and taxes relative to this
specific distribution shall be paid by my Trustee out of my trust
estate.
h. Specific Distribution of Cash to HARRISBURG CIVIC CLUB
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $10,000.00 to
HARRISBlJRG CIVIC eLlJB, 612 North Front Street, Harrisburg,
Pennsylvania, free of trust.
2. Distribution on Death of Beneficiary
If such organization ceases to exist prior to the time that this specific
distribution is directed to be made, this specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances and taxes relative to this
specific distribution shall be paid by my Trustee out of my trust
estate.
i. Specific Distribution of Cash to BAUGHMAN MEMORIAL
UNITED METHODIST CHURCH
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $5,000.00 to
BAUGH1v1AN ~MORIAL UNITED NfETHODIST CHURCH,
228 Bridge Street, New Cumberland, Pennsylvania, free of trust.
2. Distribution on Death of Beneficiary
If such organization ceases to exist prior to the time that this specific
distribution is directed to be made, this specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
A.ll expenses, claims, liens, encumbrances and taxes relative to this
specific distribution shall be paid by my Trustee out of my trust
estate.
j. Specific Distribution of Cash to JOHNSON ~IEMORIAL
l\1ETHODIST CHURCH
1. Primary Beneficiary
Upon my death, my Trustee shall distribute 53,000.00 to JOHNSON
:MEMORIAL METHODIST CHURCH, Alderson, West Virginia,
free 0 f trust.
~2L/1l (;
2. Distribution on Death of Beneficiary
If such organization ceases to exist prior to the time that this specific
distribution is directed to be made, this specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances and taxes relative to this
specific distribution shall be paid by my Trustee out of my trust
estate.
All other articles are hereby ratified and confirmed.
I executed this amendment on APR 1 2 1999
I certify that I have read the foregoing amendment to my Living Trust, and that it correctly
states the changes I desire to make in my Living Trust. I approve this amendment to my Living
Trust in all particulars, and request my Trustees to execute it.
~-' d J?]~
Fredda H. Martin, Trustor
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Fredda H. wfartin, Trustee
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Bonnie R. Snyder, Trustee i)
, .
ACKNOWLEDGEMENT
C0Ml\10NWEALTH OF PENNSYLV.ANIA
: SS
COUNTY OF DAUPHIN
The foregoing amendment to the Fredda H. Martin Living Trust was acknowledged before me on
APR 1 2 1999 ' by Fredda H. Martin, as Trustor and Trustee and by Bonnie R. Snyder as
Trustee.
Witness my hand and official seal.
My commission expires:
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N'atary Public
Notarial Seal .
\ . L F tterhoff. Notary Public
LInda . e 0 hin County
I Derry T~p.. aup ~ Nov. 8. 1999
M Comrnis510n Explre~ . .
LM Y bAr P~nnsylvamJ Association of NOtanes
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+1 :'1 : ~ l' I L -
SECOND AMENDMENT TO
THE FREDDA H. MARTIN LIVING TRUST
On March 22, 1999, I, FREDDA H. MARTIN signed the FREDDA H.
MARTIN LIVING TRUST / as Trustor I 1110re fonnally known as
FREDDA H. MARTIN and BONNIE R. SNYDER, Trustees, or their successors in
trust, under the FREDDA H. MARTIN LIVING TRUST dated March 22, 1999
and any amendments thereto
On April 12, 1999, I signed a First Amendment to the FREDDA H. MARTIN
LNINGTRUST.
Pursuant to the right reserved to me under Article Four of the ,original trust
agreement referred to above which allows me to an1end my Living Trust in writing
at any time, I hereby amend that trust agreement and the First Amendment to the
trust Agreement in the following respects:
1. .Article Six, Section 5b. of the First .Amendment to Iny Trust Agreement is
hereby revoked in its entirety.
2. Article Six, Section 5e. of the First .Amendment to my Trust Agreement is
hereby revoked and amended as follows:
e. Specific Distribution of Cash to EACH OF MY SURVIVING NIECES
AND NEPHEWS
1. Primary Beneficiary
.)
Upon my death, my Trustee shall distribute $5000.00 to EACH OF MY
SURVIVING NIECES AND NEPHEWS, free of trust.
l' I
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2. Distribution on Death of Beneficiary
If any beneficiary should die prior to the time that this specific
distribution is directed to be made, such specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances, and taxes relative to this
specific distribution shall be paid by niy Trust Estate.
3. Article Six, Section 5f. of the First Amendment to my Trust Agreement is
hereby revoked and amended as follows:
f. Specific Distribution of Cash to EACH OF MY SURVIVING GREAT
NIECES AND NEPHEWS
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $2000.00 to EACH OF
MY SURVIVING GREAT NIECES AND NEPHEWS, free of tnlSt.
2. Distribution on Death of Beneficiary
If any beneficiary should die prior to the time that this specific
distribution is directed to be made, such specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances, and taxes relative to
this specific distribution shall be paid by my Trust Estate.
4. Article Six, Section 5g. of the First Amendment to my Trust Agreement is
hereby revoked and amended as follows:
g. Specific Distribution of Cash to EACH OF MY SURVIVING GREAT,
GREAT NIECES AND NEPHEWS
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $1000.00 to EACH OF
MY SURVIVING GREAT, GREAT NIECES AND NEPHEWS, free of trust.
2. Distribution on Death of Beneficiary
If any beneficiary should die prior to the time that this specific
distribution is directed to be made, such specific distribution shall
lapse and my Trustee shall administer this specific distribution in
accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances, and taxes relative to
this specific distribution shall be paid by my Trust Estate.
5. Article Six, Section 5h. of the First Amendment to my Trust Agreement is
hereby revoked in its entirety.
6. Article Six, Section 5i. of the First Amenchnent to my Trust Agreen1ent is
hereby revoked and amended as follows:
i. Specific Distribution of Cash to BAUGNM~ MEMORIAL UNITED
METHODIST CHURCH
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $5000.00 to
BAUGHMAN MEMORIAL UNITED METHODIST CHURCH, 228 Bridge
Street, New Cumberland, Pennsylvania provided, however, that I
have not made a similar gift to this organization during my
lifetime. If my Trustee determines that I have made such a lifetiIne
gift, the above distribution shall lapse.
2. Distribution on Death of Beneficiary
If such organization ceases to exist prior to the time that this
specific distribution is directed to be made, this specific
distribution shall lapse and my Trustee shall administer this
specific distribution in accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances, and taxes relative to
this specific distribution shall be paid by my Trust Estate.
7. Article Six, Section 5j. of the First Amendment to my Trust Agreement is
hereby revoked and amended as follows:
j. Specific Distribution of Cash to JOHNSON MEMORIAL METHODIST
CHURCH
1. Primary Beneficiary
Upon my death, my Trustee shall distribute $3000.00 to JOHNSON
MEMORIAL METHODIST CHURCH, Alderson, West Virginia,
provided, however, that I have not made a similar gift to this
organization during my lifetime. If my Trustee determines that I
have made such a lifetime gift, the above distribution shall lapse.
2. Distribution on Death of Beneficiary
If such organization ceases to exist Plior to the tinie that this
specific distribution is directed to be made, this specific
distribution shall lapse and my Trustee shall administer this
specific distribution in accordance with the Articles that follow.
3. Apportionment of Expenses and Taxes
All expenses, claims, liens, encumbrances, and taxes relative to
this specific distribution shall be paid by my Trust Estate.
I confirm and readopt the remaining provisions of my original trust
agreement, and the First Amendment to my trust agreement, reserving to myself the
ri ght to amend further that trust agreement, the First amendlnent to the trust
agreement and this amendment thereto.
~\ _ I ~, "
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I have executed this Second amendment by facsimile signature on
, 2000.
I certify that this facsimile signature was made in the presence of two
witnesses who have signed their names to this Trust Agreement in my presence.
I certify that I have read the foregoing Second Amendment to my
Living Trust, and that it correctly states the terms and conditions under which nlY
Trust Estate is to be held, managed, and disposed of by my Trustee. I approve this
Second Amendment to my Living Trust in all particulars, and request my Trustee to
execute it.
~.l/~ d. ~~
FREDDA H. MARTIN, Trustor
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FREDDA H. MARTIN, Trustee
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BO~ R. SNYDER, Trustee.J
Subscribed and sworn to and acknowledged before me by FREDDA H.
MARTIN, the Trustor and Trustee, by facsimile signature, and by BONNIE R. SNYDER,
Trustee, and subscribed and sworn to before me by y(E..\\\j \. (("(52..6 , and
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des5,'N 14 ./-tiktlLl ' witnesses, on A, lJ -z.. .3>. , 2000.
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Notary Public
Notarial Seal
Susan E. Lederer, Notary Public
Harrisburg, Dauphin County
My Commission Expires May 3, 2004
C01'v1l\10NWEAL TH OF PENNSYLVANIA
)
COUNTY OF DAUPHIN
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the witnesses whose nmnes are signed to the attached or foregoing instrument, being
duly qualified according to law do depose and say that we were present and saw the
trustor sign by facsimile and execute the instrument as the Second .A1nendment to
her Revocable Tnlst; that the trustor signed willingly and executed it as her free and
voluntary act for the purposes therein expressed; that each subscribing witness in the
hearing and sight of the trustor sig-ned the instnllllellt as a witness; and that to the
best of our lmowledge the trustor was at that time eighteen or more years of age, of
sound mind and under no constraint or undue influence.
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I, FREDDA H. MARTIN, trustor, whose n31ne is signed by facsimile to
the attached or f?regoing instrument, having been duly qualified according to law,
do hereby aclmo\vledge that I signed by facsimile and executed the instrument as the
Second Amendment to my Revocable Trust; that I signed it willingly; and that I
signed it as my free and voluntary act for the purposes therein expressed.
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FREDDA H. MARTIN
Codicil to the Second Amendment of the Trust of Fredda H Martin dated 08-20-00.
Fredda H Martin's instructions for her last wishes to her family
Nieces and Nephews, with the exception of James Maddock and Richard Schafer
who have not kept in touch with me. The names listed will receive $5000.00 each.
1. Louise Desarbo Lind
2. Robert R. Eades
3. Susan Schafer Randolph
4. William Maddock
5. Edward Maddock
6. Raymond Maddock
7. Jane Ellen Hedrick Huff
8. Pamela Hedrick
Great Nieces and Nephews, with the exception of Jill Gunzel who is remembered
elsewhere in the Trust, and Richard Schafer's 4 children, James Maddock's 5
children and Edward Maddock's 2 children, with whom I have had no contact.
The names listed will receive $2000.00 each.
1. Glenna Desarbo Quinn
2. John Desarbo Quinn
3. Ben Randolph Eades
4. Frank Marcus Eades
5. Steven Randolph
6. Benjamin Randolph
7. Kristen Gunzel Reph
8. Edward Gunzel
9. James Gunzel
10. Donald Maddock
11. Donna Maddock
12. Maureen Maddock
13. Kathleen Ellen Huff
The Great, Great Nieces and Nephews
1. Zachary Quinn
2. Laura Quinn
3. Erin Reph
4. Katelyn Reph
5. Brynn Reph
6. Elise Gunzel
7. Amanda Gunzel
8. ? Gunzel
9. Kyle Gunzel
10. Morgan Maddock
11. Kaitlyn Maddock
listed below will receive $1000.00 each.
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If the value of my estate should drop below $500.000 at the time of my death, I want
to be sure that Virginia Maddock Guuzel receives a minimum of $200.000. If there
is not sufficient amount for her to receive $200.000, I would like to eliminate the
nieces and nephews. If necessary the great nieces and nephews and the great, great
nieces and nephews should be eliminated. However, should there be sufficient funds
to receive $200.000, the other amounts listed for nieces, nephews, great nieces and
nephews and great, great nieces and nephews should remain the same as stated in
th e trust.
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FREDDA H. MARTIN, Trustor
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FREDDA H. MARTIN, T'rustee . "
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B'ONNIE R. SNYDER, rustee
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NOTARIAL SEAL
MARY L DEPPEN. Notary Public
East Pennsboro Twp. Cumberland Co.
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