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Home My WebLink About08-23-06 (2) IN THE ORPHANS' COURT DIVISION OF THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ESTATE OF DONALD D. SCHUMACK, DECEASED No. 2005-00540 APPROVAL OF ACCOUNT, WAIVER, RECEIPT, RELEASE, AND AGREEMENT OF INDEMNITY ---, ') The circumstances leading up to the execution of this instrument are as follows: 1. Donald D. Schumack died on May 3, 2005, leaving a Will dated March-29, 1969, naming Robert Schumack as Executor. 2. Robert Schumack, the named Executor, passed away before 1990. 3. Mary A. Schumack, wife of Donald D. Schumack, Donita J. Schumack and Lisa A. Schumack, daughters of Donald D. Schumack, renounced their rights to administer the Estate on June 3, 2005 and asked that Letters of Administration c.t.a. be issued to Mark D. Schumack. 4. Letters of Administration c.t.a. were granted to Mark D. Schumack by the Register of Wills of Cumberland County on June 17, 2005. 5. It is the desire of the Schumack heirs that the Estate be distributed without the formality of a court proceeding in order to save the expense, publicity, and delay incident to such court proceeding, and the Administrator is willing to make such distribution upon the execution of this instrument. 6. An account of the administration of the Estate of Donald D. Schumack has been prepared by the Administrator. A copy is attached hereto as Exhibit A. 7. In consideration of the foregoing, each of the undersigned hereby: -1- f'o.;) r-:::> c::-::> \...-..- -, " ::0 PI : c") C) ::".] ,"""'-1 , ;""'~l o (-") ~~j -- c') '_' 1"1'1 C") ";;:1'1 '"' ""'a ;..~ ) ;.) (,0 ....,.., f'-' c A. Represents and warrants that he/she has read and understands this instrument and that the facts set forth above are true and correct to the best of his/her knowledge, information and belief; B. Declares that he/she has examined the attached account of the administration of the Estate and the attached schedule of distribution; that he/she finds them to be true and correct in all particulars; that he/she accepts and approves them as if they had been duly filed, audited, adjudicated and confirmed absolutely by the Orphans' Court Division of the Court of Common Pleas of Cumberland County, and as if the amounts shown as distributable had been duly awarded to him/her; C. Waives the filing and auditing of the account of the administration of the Estate in the Orphans' Court Division of the Court of Common Pleas of Cumberland County, and agrees that the Orphans' Court Division of the Court of Common Pleas of Cumberland County may by its decree confum the account and approve the schedule of distribution; D. Requests the Administrator to make distribution of the principal and income in accordance with the schedule of distribution, and effective upon delivery to him/her of the amounts shown as respectively distributable, acknowledges receipt of such property; E. Agrees to refund to the Administrator any amount which may at any time be determined to have been an erroneous distribution to him/her, regardless of the cause of such erroneous distribution, even if attributable to negligence, and agrees that any period for the limitation of actions for the collection of any erroneous distribution shall commence only at such time as the Executor shall have obtained actual knowledge of such erroneous distribution and that in no event shall the period for collection of any erroneous distribution be less than two years after the actual discovery thereof; -2- F. Absolutely and irrevocably remises, Ireleases, quitclaims and forever discharges Mark D. Schumack, individually and in his capacity as Administrator, from any and all actions, suits, payments, accounts, reckonings, liabilities, claims and demands relating in any way to the administration of the Donald D. Schumack Estate; G. Agrees to indemnify and hold harmless, to the extent of the funds received by him/her hereunder, Mark D. Schumack, individually and in his capacity as Administrator, from and agahist any and all daiIn&, loss, liaLility Oi dat"'n~age- (including legal fees and costs in connection therewith) which he may suffer or to which he may be subjected by reason of his administration of the Estate, the settlement of his Administrator's account and the distribution of the assets of the Estate without having the formal approval of the Orphans' Court Division of the Court of Common Pleas of Cumberland County, including, but not limited to, any liability for any federal estate tax, Pennsylvania inheritance tax -or anyother death taxes, together wich interest and costs incidental thereto, relating in any way to the Estate; and H. Declares it to be his/her intention that this instrument, consisting of 3 pages, shall be governed by the law of Pennsylvania and shall be legally binding as an agreement under seal upon him/her and upon his/her heirs, executors, administrators and assigns. Executed on: B-/7-~~ DATE ~ r6 &J~.uJ(Seal) MARK D. SCHUMAC'K'" lJtfs~;!tl"!( (;I1M\ (Seal) iJ~ ~t:4L DONITAJ. SCHUMACK (J(04u4~~ (Seal) LISA A. SCHUMACK (Seal) B-/7-t)~ DATE 8-/ ? -oft DATE _ , ~-/J~OI/J -----~-- DATE -3- BEFORE THE REGISTER OF WILLS, CUMBERLAND COUNTY , PENNSYLVANIA No. 2005-00540 FIRST AND FINAL ACCOUNT OF MARK D. SCHUMACK, Administrator For ESTATE OF DONALD SCHUMACK, Deceased Date of Death: May 3, 2005 Date of Administrator's Appointment: June 17, 2005 Accounting for the Period: June 17, 2005 to July 31, 2006 PURPOSE OF ACCOUNT: Mark D. Schumack, Administrator, offers this Account to acquaint interested parties with the transactions that have occurred during his administration. The Account also indicates the proposed distribution of the Estate. It is important that the Account be carefully examined. Requests for additional information or questions or objections can be discussed with: Debra K. Wallet, Esquire 24 N. 32nd Street Camp Hill, PA 17011 LD. #23989 (717) 737-1300 EXHIBIT A SUMMARY OF ACCOUNT Page Current Value Fiduciary Acquisition Value Proposed Distribution to Beneficiaries 5 $41,357.47 PRINCIPAL Receipts 2 $47,708.94 Less Disbursements Debts of Decedent 3 $1,855.33 Funeral Expenses 3 710.00 Administration Expenses 3 387.57 Federal and State Taxes 3 1,945.65 Fees and Commissions 3 1,540.00 $6,438.55 Principal Balance on Hand $41,270.39 INCOME Receipts 4 $87.08 Income Balance on Hand 87.08 Combined Balance on Hand 41,357.41 Assets Listed in Inventory: (Value as of Date of Death) Cash and Bank Deposits: RECEIPTS OF PRINCIPAL M&T Bank Savings Acct. #15004206021153 $10,843.09 Checking Acct. #11793430 1,774.08 Premium Interest Acct. #98084615 19,960.55 Tananble Personal Property: 2004 Subaru Forester 2.5 Turbo Refunds: Allstate Auto Insurance Refund PP&L Utilities Refund Vitamin Catalog Refund $41. 40 9.92 79.90 TOTAL ASSETS LISTED IN INVENTORY: 2 $32,577.72 $15,000.00 $131.22 $47,708.94 DISBURSEMENTS OF PRINCIPAL Debts of Decedent: 2005 Mechanicsburg SD Personal Taxes HealthSouth Pennsylvania American Water PP&L Skillito Oil Inc. Timothy A. Clark, M.D. Verizon West Shore EMS PSECU 2004 P A State Tax Return 2005 County Real Estate Taxes Funeral Expenses: Malpezzi Funeral Home St. Gabriels Cemetery Administration Expenses: Probate Fees Postage, photocopies, etc. Reserve for Filing of Account Federal and State Taxes: P A Inheritance Tax Fees and Commissions: Debra K. Wallet, Esq. - Atty. fees Guy DeAngelis, Inc. (tax prep) $19.60 10.00 16.75 31.16 641.08 110.00 50.79 716.95 6.00 40.00 213.00 $560.00 150.00 $317.00 45.57 25.00 $1,500.00 40.00 3 $1,855.33 $710.00 $387.57 $1,945.65 $1,540.00 RECEIPTS OF INCOME Interest Estate Checking Account 2005 Interest 2006 Interest $39.43 47.65 TOTAL RECEIPTS OF INCOME: $87.08 4 PROPOSED DISTRIBUTION TO BENEFICIARIES TO: Mark D. Schumack P.O. Box 731 Albrightsville, PA 18210 $41,357.47 This distribution is made pursuant to waivers of all interest signed by Donita J. Schumack and Lisa A. Schumack. 5 IN THE ORPHANS' COURT DIVISION OF THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY , PENNSYLVANIA ESTATE OF DONALD D. SCHUMACK, DECEASED #2005-00540 I understand that I am entitled to $13,785.82 from the Estate of Donald D. Schumack, representing my share of the Estate as provided in paragraph 5 of the Last Will and Testament of Donald D. Schumack. For reasons personal to me, I renounce, release, and disclaim any interest in the Estate in favor of my brother, Mark Schumack. I have consulted with legal counselor having been told that I should consult with legal counsel, I have decided not to consult counsel about my disclaimer of these assets. By my signature, I also agree to refund to the Administrator any amount which may at any time be determined to have been an erroneous distribution, regardless of the cause of such erroneous distribution, even if attributable to negligence, and agree that any period for the limitation of actions for the collection of any erroneous distribution shall commence only at such time as the Administrator shall have obtained actual knowledge of such erroneous distribution and that in no event shall the period for collection of any erroneous distribution be less than two years after the actual discovery thereof. I agree to indemnify and hold harmless, Mark Schumack, individually and in his capacity as Administrator, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which he may suffer or to which he may be subjected by reason of this disclaimer of the assets of the Estate without having the formal approval of the Orphans' Court Division of the Court of Common Pleas of Cumberland County, including, but not limited to, any liability for any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with interest and costs incidental thereto, relatiugin aay way to the Estate. . I2I/tLk~ ~ ONITA J. SCHUMACK ~-I ~-O~ IN THE ORPHANS' COURT DIVISION OF THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ESTATE OF DONALD D. SCHUMACK, DECEASED #2005-00540 I understand that I am entitled to $13,785.82 from the Estate of Donald D. Schumack, representing my share of the Estate as provided in paragraph 5 of the Last Will and Testament of Donald D. Schumack. For reasons personal to me, I renounce, release, and disclaim any interest in the Estate in favor of my brother, Mark Schumack. I have consulted with legal counselor having been told that I should consult with legal counsel, I have decided not to consult counsel about my disclaimer of these assets. By my signature, I also agree to refund to the Administrator any amount which may at any time be determined to have been an erroneous distribution, regardless of the cause of such erroneous distribution, even if attributable to negligence, and agree that any period for the limitation of actions for the collection of any erroneous distribution shall commence only at such time as the Administrator shall have obtained actual knowledge of such erroneous distribution and that in no event shall the period for collection of any erroneous distribution be less than two years after the actual discovery thereof. I agree to indemnify and hold harmless, Mark Schumack, individually and in his capacity as Administrator, from and against any and all claims, loss, liability or damage (including legal fees and costs in connection therewith) which he may suffer or to which he may be subjected by reason of this disclaimer of the assets of the Estate without having the formal approval of the Orphans I Court Division of the Court of Common Pleas of Cumberland County, including, but not limited to, any liability for any federal estate tax, Pennsylvania inheritance tax or any other death taxes, together with interest and costs incidental thereto, relating in any way to the Estate. ~~~~