Loading...
HomeMy WebLinkAbout05-24-06 (2) ESTATE OF HEATHER FAUST, DECEASED No. 2005-00561 FAMILY SETTLEMENT AGREEMENT :.;;~; AGREEMENT by and between Bonita T. Craig, Administrator,:.~;,bf the Estate of HEATHER M. FAUST (hereafter "Administrator") ,:'a:nd Bonita T. Craig (hereafter "Legatee"). ' WHEREAS, HEATHER M. FAUST died on April 18, 2005. WHEREAS, the Estate of HEATHER M. FAUST (Estate) on June 21, 2005, by the Register of Wills of the Cumberland, Commonwealth of Pennsylvania. .. was opened Count~. of a WHEREAS, Letters of Administration were issued to the Administrator and she has proceeded wi th the administration of said Estate and has prepared her First and Final Account and Schedule of Distribution, a copy of which is attached hereto, made a part hereof and marked as Exhibit "A". WHEREAS, the parties in interest under the laws of intestacy are as specified on Exhibit "B", attached hereto and made a part hereof. WHEREAS, the parties hereto desire that the net Estate of $47,874.01 be distributed without the necessity of filing a formal accounting to avoid the expense, delay and publicity associated with same. NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows: 1. The Legatee agrees and acknowledges that she has fully and carefully examined the First and Final Account of Administrator and the Schedule of Distribution relating thereto, and find it to be true and correct, and acceptable to the Legatee and further that she has received a copy of this Agreement and of the said Account and Schedule of Distribution. 2. Legatee does hereby acknowledge receipt of the assets or cash equivalent thereof described on the Schedule of Distribution attached hereto. 3. The Legatee does hereby release, remise and forever discharge the Estate of HEATHER M. FAUST, Deceased and the Administrator, of and from all manner of acts, suits, claims, accounts, accountings, debts, dues and demands whatsoever which they or any of their legal representatives, heirs or assigns may now (or at any time hereafter) may have, against the Administrator, the said Estate or the assets thereof, from, for or concerning any of the assets and property of the said Estate V' and/or any claim or interest thereto administration, management, collection, any of the said assets and for or on interest, income, assets or proceeds out time of the death of the said decedent to of this Agreement. or therein, and the sale or distribution of account of any money, of the same, from the and including the date 4. Legatee agrees that if any claims of any nature whatsoever, (including but not limited to claims for any taxes imposed upon or chargeable to the Estate or owed by the decedent) are made against Administrator and/or the Estate, and the Estate shall not have sufficient assets remaining to pay all or any part of such claim or claims, Legatee will return and refund to Administrator so much of the amount indicated on the Schedule of Distribution attached hereto as part of Exhibit "A" as Administrator may require with the limitation that any amount to be returned or refunded shall be proportionate to Legatee's share in the estate unless otherwise provided for by law, or determined by Administrator in her sole discretion. 5. Legatee agrees to indemnify and hold Administrator harmless against and in respect of any and all claims, demands and liabilities made by any individual or entity arising out of and relating to the Estate of HEATHER M. FAUST, Deceased and for and on account of any and all actions, suits, proceedings, demands, assessments, and/or judgments which may result from Bonita T. Craig's relationship as Administrator to the Estate together with costs and legal or other expenses incident to the foregoing. 6. The parties hereto, and each of them, agree that they will at all times in the future and whenever necessary, appropriate or convenient, make, execute and deliver to the Administrator, and/or to the other party or persons, any and all instruments, documents, conveyances, deeds, releases or other instruments of any kind necessary or convenient to carry out the intention of this Agreement and/or to permit, assist and enable the Administrator to fulfill his duties with reference to the said Estate and all of the assets thereof. 7 . This instrument is a full and final Settlement Agreement by and among the parties hereto, both fiduciary and individual, all of the same having been arrived at, concluded and executed after a full and complete disclosure of the assets of the said Estate and the rights of the parties therein and thereto and all of the parties hereto, and each of them agrees to abide by the terms hereof. 8. This Agreement shall inure to the benefit of and shall be binding upon the parties hereto and their respective personal representatives, heirs, successors and assigns. 2 9. This Agreement shall be subject to and shall be construed under the laws of the Commonwealth of Pennsylvania. 10. Legatee acknowledges and agrees that this Agreement may be indexed and recorded. 11. In the event that multiple copies of this Agreement are executed, each copy shall be deemed an original but all copies together shall constitute the same instrument. IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the 23rd day of May, 2006. Estate of HEATHER M. FAUST, Deceased By: ~f' Bonita T. c~ Legatee Signed and Acknowledged before me the 23rd day of May, 2006. ~(Ln,.., Yh ~l tary Public COMMONWEALrH or PENNSYLVANIA Not-trial Seal JoAnna M. Buber, Notary Public Port Carb<?n ~oro, S~huylkill County My CommIssion Expires Dec. 2 2007 Memher, PennsvlvaniCl Association of Notaries 3 ESTATE OF HEATHER FAUST SCHEDULE OF DISTRIBUTION EXHIBIT "A" Receipt of Assets 25% Interest in Tax Parcel No. 48-8-135 Property at 501 West Pine St., Mahanoy City, Schuylkill County, Pennsylvania 2005 Federal Income Tax Refund United States Saving Bonds Settlement from Lawsuit (Faust v. Horace Mann Insurance Co., No. 2004-EQ-0008, Dauphin County) Total Receipts Disbursements Prepayment of Inheritance Tax Filing Fee Additional Inheritance Tax Additional Probate Fees Filing Fee Total Disbursements Total Distribution to Legatee 4 $1,250.00 $2,778.00 $28,670.16 $21,275.00 $53,973.16 --------------- --------------- $4,400.00 $15.00 $1,619.15 $45.00 $20.00 $6,099.15 --------------- --------------- $47,874.01 ESTATE OF HEATHER FAUST, DECEASED PARTY OF INTEREST SCHEDULE "B" Name Interest Intestate Share 100% Bonita T. Craig 100% 5