The URL can be used to link to this page

Home My WebLink About09-05-06 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION ESTATE OF CORNELIA H. HERMAN, DECEASED FILE NO. 2005-00904 FAMILY AGREEMENT AND FINAL RELEASE THIS AGREEMENT by and between TIMOTHY HERMAN, as Executor of the Estate of CORNELIA H. HERMAN, Deceased; and TIMOTHY HERMAN, MICHAEL HERMAN, and ANNA GARDNER-HORST, as beneficiaries. WHEREAS, CORNELIA H. HERMAN, late of Cumberland County, Pennsylvania, died testate on September 30,2005, having first made her Last Will and Testament dated October 25,2000, which instrument was admitted to probate and is recorded in Cumberland County Courthouse, Register of Wills, File No. 2005-00904; WHEREAS, TIMOTHY HERMAN has been duly appointed as Executor of the Estate of Cornelia H. Herman, Deceased, and o ~o ~::-..:o :n -0 =::: I (") '.J......~ -zm ,;: u5 # ~..".f ..,,'-. :~oo ,_ 0 .,., <)S5 :-;7-l .j> WHEREAS, the parties in interest are: 1. Timothy Herman, son 2. Michael Herman, son 3. Anna Gardner-Horst, daughter I'"-.:> =" = 0"'\ 0) 1""1 -0 I Ul :bo :::c - .. .r- \0 WHEREAS, TIMOTHY HERMAN, MICHAEL HERMAN, and ANNA GARDNER- HORST are each entitled to one-third (1/3) of the residuary estate; WHEREAS, each of the parties to this Agreement have been furnished with a complete listing of the estate assets, receipts and disbursements as set forth on the Statement of Account as attached hereto and marked as Exhibit A; 1 WHEREAS, it is the desire of the parties to this Agreement that final distribution of this estate be accomplished without a formal accounting to the Orphans' Court Division of the Court of Common Pleas of Cumberland County, it being the desire of the parties to avoid the expense, delay and publicity of a formal accounting; WHEREAS, the parties to this Agreement each acknowledge to have received a proposed Schedule of Distribution attached hereto and marked as Exhibit A. NOW, THEREFORE, WITNESSETH, in consideration of the mutual promises, covenants and agreements recited herein, the parties do agree as follows: 1. TIMOTHY HERMAN, Executor, does hereby state that he has fully and faithfully discharged the duties of his office, and the Statement of Account (Exhibit A) is true and correct and fully discloses all significant transactions during the accounting period. He further states that all known claims against the Estate have been paid in full, and to the best ofhls knowledge there are no claims outstanding against the Estate and all taxes presently due from the Estate have been paid. 2. Each of the parties to this Agreement does hereby release and forever discharge the said Executor, TIMOTHY HERMAN, his heirs, executors, administrators and assigns, JAN L. BROWN & ASSOCIATES, attorneys at law, and JAN L. BROWN, ESQUIRE, and JACQUELINE A. KELLY, ESQUIRE from any and all liability which may from time to time arise in connection with their service as Executor and Attorneys of the Estate of Cornelia H. Herman. The parties do further agree to indemnify and hold them harmless from any and all liability which may arise against the Estate from creditors or claimants. 3. Each of the parties does hereby acknowledge receipt of the assets described on the Schedule of Distribution attached hereto. 2 4. Each of the parties acknowledges that this Agreement shall be indexed and recorded in the estate proceedings and that the terms hereof shall be binding upon their respective heirs, successors, administrators and assigns. 5. Each of the parties do further agree with each other and the aforesaid Executor that should any liability come due to the estate of the said decedent after the signing of this Agreement, each will contribute pro rata his/her share of the estate to satisfy any and all claims, demands, suits or causes of action which may be successfully prosecuted against the said estate or the aforesaid Executor after the signing, sealing and delivery of this Agreement. 6. This Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. (;1- IN WITNESS WHEREOF, l have hereunto set my hand and seal this :~ I> day of f-\t4 U-S t WITNESS: ~fU[~Ul~v-t I' \.) 'j ,2006 .J' CA~ " J~ --- \~~ TIMOTHY HERM N, Executor and BeneficIary COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF DAUPHIN On this the Ol STday of A;;j; 1.0;1- , 2006 before me, a Notary Puhlic, the undersigned officer, personally appe d TIMOTHY HERMAN known to me/or sattsfactonly proven to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. 3 COMMOttWEAlTH OF PENNSYlVANIA NOTARIAL SEAL JACQUElINE A. KELLY, NOTARY PUBLIC LOWER PAXTON TWP., DAUPHIN COUNlY M'i CO~:~S!~_E~~!~~. ~.~c. 17, 20D7 ,_ IN WITNESS WHEREOF, '-flU?)t..c'~-C ,2006. WITNESS: I have hereunto set my hand and seal this 1b day of (/ \ '-... O~JIJrJ1c M7~f ANNA GARDNER-HORST, Beneficiary-- COMMONWEALTH OF PENNSYLVANIA COUNTY OF G)~\'Q ~{L{\(\ SS: On this the \~ day of ~ V~ti.st ,2006 before me, a Notary Public, the undersigned officer, personally appeared ANNA GARDNER-HORST known to me/or satisfactorily proven to be the person whose name is subscribed to the within instrument, and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. Notzrial Seal Tammy J. Mislyan, Notary Public Hampden Twp., Cumberland Countv My Commission Expires June 28. 2007 . . Member. Pennsylvania Association of N'llllrl"", 4 /1 1'" ~ IN WITNESS WHEREOF, I have hereunto set my hand and seal this tt9~y of Gt~ ,2006. - v WITNESS: ~, ~~ STATE OF FLORIDA COUNTY OF ~o.tk SS: On this the J (0"" day of .J, tJ~ ,2006 before me, a Notary Public, the undersigned officer, personally appe ed MICHAEL HERMAN known to llli:/or satIsfactonly proven to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. ""~~'" Silvia M. Orofino (l "',,JI,U",>, .' #DDI5"'07 ::"';,.o:;;;:_,~,~_~, "'0-=;' CornmlSSlon ' ~JL._ \..~: ~ E;:Dire:~ Sep 24, 2006 'o~$t,....""- - Bonded Th-u 0:" f\- :.' Altdnti,.: Bonding Co" ~l}c 5 ESTATE OF CORNELIA H. HERMAN DATE OF DEATH SEPTEMBER 30, 2005 SUMMARY STATEMENT OF ACCOUNT Assets - Schedule A $ 386,937.75 Income/Investments - Schedule B $ 4,967.16 Principal Increases/Decreases - Schedule C $ (110.92) Disbursements - Schedule D $ (50,069.72) Assets Available for Distribution $ 341,724.27 Distributions to Beneficiary - Schedule E $ 339,724.27 Balance reserved for contingencies 1 $ 2,000.00 1The reserve balance will increase or decrease based on receipt of additional assets/income, presentation of an obligation and/or payment of additional charges. The reserve will be distributed to the residuary beneficiaries after applicable adjustments. After final distribution is made, the residuary beneficiaries agree to reimburse the personal representative if called upon to pay further liabilities of the decedent in the future. 8/1/2006 ESTATE OF CORNELIA H. HERMAN INCOME SCHEDULE B DESCRIPTION Interest Income Members 1 st FCU Checking 49729-11 Members 1 st FCU Savings 49729-00 Cornerstone FCU Checking 69 Cornerstone FCU Savings 69 Cornerstone FCU Money Market 9614 Cornerstone FCU Savings 9614 Members 1 st FCU Estate Checking through 6/24/06 ING Classic Money Fund US Savings Bond C142227968EE Dividend Income Eaton Vance Floating Rate Fund; 11/1/05 Eaton Vance Floating Rate Fund; 12/1/05 Eaton Vance Floating Rate Fund; 12/12/05 Capital Income Builder Class C; 12/22/05 Capital Income Builder Class C; 12/22/05 Capital Income Builder Class C; 12/22/05 Eaton Vance Tax-Managed Equity; 12/22/05 Income Fund of America Class C; 12/28/05 Income Fund of America Class C; 12/28/05 Income Fund of America Class C; 12/28/05 Sprint Nextel Corp; 12/30/05 Capital Income Builder Class C; 3/22/06 Income Fund of America Class C; 3/28/06 Sprint Nextel Corp; 3/31/06 TOTAL INCOME: Investment Activity/Reinvestment of Dividends Eaton Vance Floating Rate Fund; 11/1/05; 11.961 @ $9.87 Eaton Vance Floating Rate Fund; 12/1/05; 11.613 @ $9.87 Capital Income Builder Class C; 12/22/05; 3.142 @ $52.93 Capital Income Builder Class C; 12/22/05; 2.165 @ $52.92 Capital Income Builder Class C; 12/22/05; 5.974 @ $52.93 Eaton Vance Tax-Managed Equity; 12/22/05; 51.88 @ $12.11 Income Fund of America Class C; 12/28/05; 34.481 @ $18.10 Income Fund of America Class C; 12/28/05; 90.061 @ $18.10 Income Fund of America Class C; 12/28/05; 12.439 @ $18.10 Capital Income Builder Class C; 3/22/06; 2.983 @ $55.48 Income Fund of America Class C; 3/28/06; 32.296 @ $18.84 8/1/2006 $ $ $ $ $ $ $ $ $ 0.01 5.83 0.05 0.16 5.67 0.26 37.41 9.08 5.12 $ 118.06 $ 114.62 $ 42.18 $ 166.32 $ 114.57 $ 316.22 $ 628.27 $ 1,630.11 $ 624.11 $ 225.15 $ 75.00 $ 165.51 $ 608.45 $ 75.00 $ 4,967.16 $ 118.06 $ 114.62 $ 166.32 $ 114.57 $ 316.22 $ 628.27 $ 624.11 $ 1,630.11 $ 225.15 $ 165.51 $ 608.45 $ 4,711.39 ESTATE OF CORNELIA H. HERMAN DISBURSEMENTS SCHEDULE 0 DESCRIPTION Ewing Brothers Funeral Home, Inc.; funeral expenses Register of Wills; probate fees Cumberland Law Journal; legal advertising Central Penn Business Journal; legal advertising Jan L Brown & Associates; legal fee Parks & Company; accountant fee Greenwalt & Company, PC; accountant fee Members 1 st FCU; estate check fee Additional death certificates Postage; FedEx Boggs Painting; for 426 S. Pitt St Mackey's Flooring; for 426 S. Pitt St Gelco Carpet Cleaning; for 426 S. Pitt St Cleaning supplies, new fixtures, etc. for 426 S. Pitt St U-Haul rental for hauling of material @ 426 S. Pitt St Larry E. Foote; appraisal of 426 S. Pitt St Advertising of property @ 426 S. Pitt St OK Electric; for 426 S. Pitt St Borough of Carlisle; 2005 real estate taxes Settlement charges; 426 S. Pitt St UGI Utilities; 426 S. Pitt St. PPL Electric; 426 S. Pitt St Sprint; 426 S. Pitt St Borough of Carlisle; sewer and water for 426 S. Pitt St Check 1316 cashed after death Check 1317 cashed after death Check 1318 cashed after death Check 1319 cashed after death Masland Associates, Inc.; medical Lancaster HMA Physical Mngmt; medical Moffitt Heart & Vascular Group; medical Apria Pharmacy Network; medical Carlisle Regional Med Center; medical Carlisle Neurocare; medical Holy Spirit Hospital; medical Discover Platinum Card; outstanding debt Law Offices of Duncan & Hartman; outstanding legal fees Register of Wills, Agent; inheritance taxes 8/1/2006 CATEGORY Funeral Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Adm Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Tax AMOUNT $ $ $ $ S $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 6,567.70 422.00 75.00 97.00 7,679.00 250.00 200.00 23.50 97.00 22.93 2,900.00 1,166.00 121 .85 115.20 521.02 275.00 68.88 485.24 497.45 9,622.64 1,112.06 148.62 42.16 148.91 540.00 100.00 490.25 63.99 114.75 20.52 107.27 39.67 36.20 10.05 369.75 30.89 750.00 14,737.22 $ 50,069.72 ESTATE OF CORNELIA H. HERMAN DISTRIBUTIONS TO BENEFICIARY ACCORDING TO TERMS OF WILL DATED OCTOBER 25,2000 SCHEDULE E Eaton Vance Tax-Managed Equity; 669.586 @ $12.13 sh' Eaton Vance Tax-Managed Equity; 10.414 @ $12.11 sh2 Income Fund of America Class C; 1519.075 @ $18.49' Income Fund of America Class C; 12.481 @ $18.10 sh4 Income Fund of America Class C; 4.439 @ $18.10 sh4 Income Fund of America Class C; 30.061 @ $18.10 sh4 Income Fund of America Class C; 16.296 @ $18.84 sh5 Sprint Nextel Corp; 1000 @ $23.78' $ 8,122.08 $ 126.11 $ 28,087.70 $ 225.91 $ 80.35 $ 544.10 $ 307.02 $ 23,780.00 Cash distribution as follows: Cash distribution on or after 8/31/06 'Cost basis based on value at date of death. 2Cost basis based on dividend reinvestment on 12/22/05. 3Cost basis based on dividend reinvestment on 3/22/06. 4Cost basis based on dividend reinvestment on 12/28/05. 5Cost basis based on dividend reinvestment on 3/28/06. 8/1/2006 $ 70,01267 $ 43,228.75 $113,241 42 $339,72427