HomeMy WebLinkAbout05-26-06
EST ATE OF
SELVA A. SPENCER
Deceased
) IN THE COURT OF COMMON PLEAS OF
) CUMBERLAND COUNTY,
) PENNSYLVANIA
)
) ORPHANS' COURT DIVISION
)
) NO. 21-05-0253
IN RE:
PETITION TO REPLACE TRUSTEES
AND NOW come the Petitioners, Stuart A. Spencer and Stephen A. Spencer, and request
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this Honorable Court to allow the replacement of the Trustees in accordance with the following:
1. Decedent, Selva A. Spencer, died on March 6,2005. His Will was admitted to
probate on March 18,2005. Attached hereto and marked as Exhibit A is a true and correct copy
of his Will.
2. Under the terms of his Will, twenty-five (25%) percent of his estate went to his great-
grandchildren, Elizabeth Abel and Virginia G. Hostetter in equal shares.
3. Under the terms of his Will, specifically Item IV, the shares going to Elizabeth Abel
and Virginia D. Hostetter were to be placed in trust since Elizabeth Abel is currently fourteen
years of age with a date of birth of November 20, 1991, and Virginia G. Hostetter is currently
three years of age with a date of birth of September 11, 2002.
4. Decedent named his grandsons, Stephen A. Spencer and Stuart A. Spencer, as Co-
Trustees under the trust set up in Item V of his Will.
5. The administration of the Estate of Selva A. Spencer is complete and Stephen A.
Spencer and Stuart A. Spencer have initially set up separate trusts for the benefit of Elizabeth
Abel and Virginia G. Hostetter.
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6. The natural mother of Elizabeth Abel and Virginia G. Hostetter is Suzanne Abel who
is the sister of the Co-Trustees, Stephen A. Spencer and Stuart A. Spencer.
7. Both Co-Trustees do not have a working relationship with their sister and are
concerned about their ability to serve as trustees for the minor children given various incidents
that have occurred.
8. The Co-Trustees wish to resign as trustees under the trust.
9. An institutional trustee, Sterling Financial Trust Company, by its local office at 2148
Market Street, Camp Hill, Pennsylvania, has agreed to serve as replacement trustee. Attached
hereto and marked as Exhibit B is a true and correct of a letter received by Michael L. Bangs,
Esquire, attorney for the Co-Trustees, indicating the willingness to serve.
10. The current Co-Trustees believe it is in the best interest to have an institutional
trustee handle these trusts for the benefit of the minor children rather than for them to continue to
serve as Co-Trustees.
11. 'fhe amount available to be placed into trust for each of the beneficiaries is
$26,134.51. The only withdrawal from each trust is accumulative amount of $500.00 ($250.00
from each trust) to cover the legal costs associated with work done for the trust.
12. The Co-Trustees request this Honorable Court to accept their resignation and to
appoint Sterling Financial Trust Company as a replacement trustee pursuant to 20 Pa. C.S.
Section 7101.
WHEREFORE, the Co-Trustees requests this Honorable Court to order and direct the
following:
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VERIFICATION
r hereby verify that the statements made in the foregoing Petition are true and correct. I
understand that false statements herein are made subject to the penalties of 18 Pa. C.S. Section
4904, relating to unsworn falsification to authorities.
Date: (IS /J~/tt'-C
-
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STUART A. SPENCER ~
A. Accept the resignations of Stephen A. Spencer and Stuart A. Spencer
as Trustees under the Trust FBO Elizabeth Abel and under the Trust FBO
Virginia G. Hostetter; and
B. Appoint Sterling Financial Trust Company as the replacement Trustee
for the Trust FBO Elizabeth Abel and the Trust FBO Virginia G. Hostetter.
Respectfully submitted,
1/\ lit A ,4 .~
~liN0 )
Attorney for Petitione s//
429 South 18th Street
Camp Hill, PA 17011
(717) 730-7310
Supreme Court ID #41263
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VERIFICATION
I hereby verify that the statements made in the foregoing Petition are true and correct. I
understand that false statements herein are made subject to the penalties of 18 Pa. C.S. Section
4904, relating to unsworn falsification to authorities.
Date: (?S-- /)-./cr-C
)
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STUART A. SPENCER ~
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I, SEL VA A. SPENCER, of 820 Lisburn Road, Apartment 811, Lower Allen Township,
Cumberland County, Pennsylvania, declare this to be my last will and revoke any will J?reviously
made by me.
ITEM I. I direct that all my just debts and funeral expenses, including my grave marker
and all expenses of my last illness, be paid from my residuary estate. All death taxe:iO and
assessments imposed by any governmental body as a result of my death, on property forn1ing my
gross estate, whether or not it passes under this Will or otherwise, shall be paid on a pro-rata
basis from the assets that make up my gross estate.
ITEM II. I give and bequeath all of my household goods, automobiles, jewelry, and all
other articles of household and personal use, equipment and ornament, together with all
insurance thereon and relating thereto, in accordance with the following:
A. Twenty-five (25%) Percent to my grandson STEPHEN A. SPENCER
provided he survives my death by thirty (30) days or in the event that he
predeceases me or fails to survive my death by thirty (30) days, to his issue per
stirpes;
B. Twenty-five (25%) Percent to my grandson STUART A. SPENCER
provided he survives my death by thirty (30) days or in the event that he
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predeceases me or fails to survive my death by thirty (30) days, to his issue per
stirpes;
C. Twenty-five (25%) Percent to my great-grandchildren ELIZABETH
ABEL and VIRGINIA G. HOSTETTER in equal shares or to the survivor of
them, provided they survive my death by thirty (30) days; and
D. Twenty-five (25%) Percent to my grandson MATTHEW 1. SPENCER
provided he survives my death by thirty (30) days or in the event that he
predeceases me or fails to survive my death by thirty (30) days, then his share
shall go one-third to Stephen A. Spencer or his survivors as set forth in
subparagraph A above; one-third to Stuart A. Spencer or his survivors as set forth
in subparagraph B above; and one-third to be shared equally between Elizabeth
Abel and Virginia G. Hostetter.
ITEM III. I give, devise, and bequeath all the rest, residue, and remainder of my
possessions.and estate of every nature and wherever situate in accordance with the following:
A. Twenty-five (25%) Percent to my grandson STEPHEN A. SPENCER
provided he survives my death by thirty (30) days or in the event that he
predeceases me or fails to survive my death by thirty (30) days, to his issue per
stirpes;
B. Twenty-five (25%) Percent to my grandson STUART A. SPENCER
provided he survives my death by thirty (30) days or in the event that he
predeceases me or fails to survive my death by thirty (30) days, to his issue per
stirpes;
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C. Twenty-five (25%) Percent to my great-grandchildren ELIZABETH
ABEL and VIRGINIA G. HOSTETTER in equal shares or to the survivor of
them, provided they survive my death by thirty (30) days; and
D. Twenty-five (25%) Percent to my grandson MATTHEW 1. SPENCER
provided he survives my death by thirty (30) days or in the event that he
predeceases me or fails to survive my death by thirty (30) days, then his share
shall go one-third to Stephen A. Spencer or his survivors as set forth in
subparagraph A above; one-third to Stuart A. Spencer or his survivors as set forth
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in subparagraph B above; and one-third to be shared equally between Elizabeth
Abel and Virginia G. Hostetter.
ITEM IV. Should any of my issue entitled to a share of my estate not have attained the
age oftwenty-five (25) years at the time for distribution to him or her, I devise and bequeath the
share of such issue to my hereinafter named trustee, IN SEP ARA TE TRUSTS, to hold, manage,
invest, and r€-invest, the shares so received, and the accumulation of income thereon, and to use
and apply from time to time such portion of income and principal thereof as my trustee thinks
proper for the comfortable support, maintenance, health, welfare, and education of the issue or to
make payment for such purposes, without further responsibility, directly to such issue, or directly
to any person taking care of such issue. Any principal or income not so applied shall be
distributed to such issue when he or she attains the age of twenty-five (25) years, or ifhe or she
dies prior thereto, to his or her personal representative.
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ITEM V. I appoint my grandsons STUART A. SPENCER and STEPHEN A.
SPENCER Co-Trustees of the trust or trusts created by this my last will. In addition to the other
powers and authorities granted to my trustee by Pennsylvania Law and by the preceding
paragraph of this my last will, I hereby give my trustee the following special powers and
authorities:
A. To retain any or all of the assets of my estate, real or personal
(including any stock or securities of any corporate fiduciaries), without any regard
to any principle of diversification, risk, or productivity;
B. To invest and re-invest in all forms of property without restrictioil to
investments authorized for Pennsylvania Fiduciaries, as my trustee deems proper,
without regard to any principle of diversification, risk or productivity;
C. To sell at public or private sale, to exchange or to lease, for any period
of time, any real or personal property and to give options for sales, exchanges, or
lease~, for such prices and upon such terms or conditions as my trustee deems
proper and in the best interest of the beneficiary or beneficiaries of said trusts;
D. To allocate receipts and expenses to principal or income or partly to
each as my trustee from time to time deems proper in its sole discretion;
E. To compromise any claim or controversy;
F. To exercise any option, right, or privilege granted in insurance policies
or in any other investments;
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G. My trustee may accumulate the income from this trust during the term
thereof but may, from time to time, distribute from current income or from
accumulated income or from principal such amounts as my trustee, in its sole
discretion, deems advisable for the education, welfare, and comfort of the trust
beneficiary.
ITEM VI. All of the interests of the beneficiaries hereunder shall not be subject to
anticipation or to voluntary or involuntary alienation nor shall they be subject to any execution or
attaclm1ent.
ITEM VII. I appoint my grandson STUART A. SPENCER executor of this my last will.
Should my grandson Stuart A. Spencer predecease me or otherwise fail to qualify or cease to
serve as executor of this my last will, I appoint my grandson STEPHEN A. SPENCER executor
of this my last will.
ITEM VIII. In addition to the other powers and authorities granted to my personal
representatives by Pemlsylvania law and by the other terms and provisions of this will, I hereby
give to my personal representatives the following powers and authorities effective without comi
approval and wltil actual distribution of all property: to compromise any claim or controversy;
to make distribution in cash or in kind, or partly in cash and partly in kind, and in such manner as
my personal representatives may determine and at valuations finally to be fixed by them; to
invest in all forms of property, including any stock or other securities in any corporate fiduciary
or its successor without restriction to investments authorized for Pennsylvania fiduciaries, as my
personal representatives deem proper, without regard to any principle of risk or diversification;
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to retain any or all assets of my estate, real or personal, without regard to any principle of risk or
diversification; to sell at public or private sale, to exchange, or to lease for any period oftime,
any real or personal property and to give options for sales, exchanges, or leases, for such prices
and upon such terms or conditions as my personal representatives deem proper; and to allocate
receipts and expenses to principal or income or partly to each as my personal representatives
deem proper in their sole discretion.
ITEM IX. I direct that my personal representatives and fiduciaries shall not be required
to give bond for the faithful performance of their duties in any jurisdiction.
IN WITNESS WHEREOF, I have hereunto set my hand this
/ f . day of
7n u:; .
,2004.
~~ a_~ .~/L
' SELVA A. SPENCER ~
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The preceding instrument, consisting of this and SIX other typewritten pages, each
identified by the signature of the testator was on the date thereof signed, published, and declared
by SELVA A. SPENCER, the testator therein named, as and for his last will, in the presence of
us, who at his request, in his presence, and in the presence of each other, have subscribed our
names as witnesses hereto.
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COMMONWEALTH OF PENNSYLVANIA
)
( SS:
)
COUNTY OF CUMBERLAND
The undersigned, being the testator whose name is signed to the attached or foregoing instrument,
having been duly qualified according to law, does hereby acknowledge that I signed and executed the
foregoing instrument as my last will, that I signed it willingly; and that I signed it as my free and
voluntary act for the purposes therein expressed. 1 ", ~, ',','
, ~'Vl CL- C21~
SEL V A A. SPENCER l/
NOTARIAl SEAl
NOY S. CI-ESBRO. N*y PubIc
Lower Alien "TYJp., CumbeI1and ColI\tv
My Cornrnllatrm E~ May 10, 200~
COMMONWEAL TH OF PENNSYLVANIA
)
( SS:
)
and S7t'C/ur A S/E//cc'9( ,the
witnesses whose names are signed to e attached or foregoing instrument, being duly qualified according
to law, do depose and say that we were present and saw the testator sign and execute the instrument as his
last will; that he signed it willingly and that he executed it as his free and voluntary act for the purposes
therein expressed; that each of us in the hearing and sight of the testator signed the will as witnesses; and
that to the best of our knowledge, the testator was at that time 18 or more years of age, of sound mind,
and under no constraint or undue influence. ~ ~ //~/ ")
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COUNTY OF CUMBERLAND
WE,
nd acknowledged
day of
,2004.
'}ljltlmD
otary Public
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STERLING FINANCIAL
TRUST COMPANY
CI{U\TING MANAGING PRESERVING WEALTH
May 9, 2006
Michael L. Bangs, Esquire
Bangs Law Office
429 South 18th St.
C~lmp Hill, Pa. 17011
Re: Trust FBO Virginia G. Hostetter
Trust FBO Elizabeth Abel
Dear Michael:
I wish to confirm that Sterling Financial Trust Company is willing to serve as the
Testamentary Trustee under the Will of Selva A. Spencer for the trusts created for
Virginia G. Hostetter and Elizabeth Abel.
If there are any further documents that need our signature in order to serve as the
Testamentary Trustee, please forward them to me at your convenience.
If you have any questions, please contact me at your convenience.
-~
Christop 1er W. Kull
Senior Vice-President