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Home My WebLink About10-04-06 (2) , ..""'" . 0'-.1- 05-/041- COURT OF COMMON PLEAS OF CUMBERLAND COUNTY PENNSYLVANIA ORPHANS' COURT DIVISION FIRST AND FINAL ACCOUNT For the Trust Agreement of C. Alvin Light. deceased Stated by HERSHEY TRUST COMPANY. Trustee Date of Death of Settlor: Date of Trustees' first receipt of funds Account Stated for the Period: November 4. 2005 May 3, 1996 May 3, 1996 to September 11 , 2006 Purpose of Account: Lisa Piergallini, Trust Administrator, Hershey Trust Company, offers this account to acquaint interested parties with the transactions that have occurred during their administration. It is important that the account be carefully examined. Requests for additional information or questions or objections can be discussed with: Lisa Piergallini Trust Administrator Hershey Trust Company P.O. Box 445 Hershey, PA 17033 (717) 520-1109 . '\iJ .'C,,-... !U'V"i-, J.ul i\.) ,,-,' :iJ ","(18 ":'-:1-;0 ;......'o-..J 92 :8 Hd ~- 1:30 90al I _ . ..~.' j:) 3JI:UO QjrJbJJJd " "- SUMMARY OF ACCOUNT Fiduciary Current Acquisition Page Value Value Proposed Distributions to Beneficiaries 11 $124,000.44 $124,000.44 Principal Receipts 2-3 $687,785.64 Net Gain (or loss) on Sales or Other Dispositions 3-5 7,631.12 695,416.76 less Disbursements: General Disbursements 5-6 57,556.90 Fees 6 550.00 58,106.90 Balance before Distributions $637,309.86 Distributions to Beneficiaries 6 496,000.00 Transfers to Income 7.00 29,256.33 Principal Balance on Hand 7 112,053.53 For Information: Investments Made 7-8 Changes in Investment Holdings 8 Income Receipts 8-9 $15,199.54 less Disbursements 9-10 3,252.63 Balance Before Distributions 11,946.91 Distributions to Beneficiaries 10 0.00 Income Balance on Hand 10 11,946.91 Combined Balance on Hand $124,000.44 1 RECEIPTS OF PRINCIPAL RECEIPTS FROM SETTLOR 05/03/1996 Cash - proceeds from PNC Ready Access C/O 05/03/1996 Cash - proceeds from PNC Ready Access C/O OS/23/1996 20,000 par Meridian Bank C/O 7.5% due 7/12/96 OS/23/1996 41,178.97 par Meridian Bank C/O 8.690% due 7/5/96 OS/23/1996 10,000 par Meridian Bank C/O 7.79% due 4/11/98 OS/23/1996 20,000 par Meridian Bank C/O 5.25% due 7/11/96 OS/23/1996 100,000 par Union National C/O 5.8% due 9/14/97 OS/23/1996 50,000 par PNC C/O 6.85% due 4/13/00 OS/23/1996 10,000 par PNC C/O 6.9% due 5/4/00 OS/23/1996 25,000 par CoreStates C/O 7.25% due 4/21/97 OS/23/1996 25,000 par CoreStates C/O 7.25% due 7/7/97 OS/23/1996 25,000 par CoreStates C/O 8.1% due 12/21/98 OS/23/1996 110,000 par Oauphin Oeposit C/O 7.02% due 11/4/97 02/13/1998 Cash - received from settlor 09/01/2004 Cash - received from settlor 01/25/2005 Cash - received from settlor 09/09/2005 Cash - received from settlor 02/22/2006 Cash - proceeds from closing checking account Transfers from Income 05/02/2001 Transfer from income for investment 01/27/2003 Transfer from income Miscellaneous Receipts 03/30/2004 Cash - deposit 04/21/2004 Cash - deposit 01/11/2005 Transfer from C. Alvin Light & Velma H. Light TUA 12/28/2005 Cash - found in decendants room Adjustments on following securities to reflect date of death (11/3/05) value: 23,454.19 par PNC C/O 1.1 % 3/14/05 Book Value 23,454.19 20,000.00 15,000 par GlaxoSmithKline PLC 2.375% 4/16/07 Book Value 14,517.98 14,904.90 20,000 par Bank of America 3.375% 2/17/09 Book Value 19,020.70 19,944.00 2 $35,586.75 45,494.85 20,000.00 41,178.97 10,000.00 20,000.00 100,000.00 50,000.00 10,000.00 25,000.00 25,000.00 25,000.00 110,000.00 10,000.00 9,000.00 4,400.00 7,500.00 4,152.14 25,000.00 52,000.00 300.00 500.00 6,420.00 113.00 3,454.19 (386.92) (923.30) 552,312.71 77,000.00 7,333.00 10,000 par Federal National Mtg Assn. 4.375% 9,825.00 Book Value 9,975.00 (150.00) 122 units Common Trust Fund - Equity REIT 22,733.42 Book Value 11,678.82 11,054.60 314 units Common Trust Fund - Value Equity 116,022.59 Book Value 66,956.07 49,066.52 401 units Common Trust Fund - Fixed Income 411,616.14 Book Value 422,591.30 (10,975.16) 51,139.93 Total Receipts $687,785.64 GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS Gain Loss 07/15/1996 20,000 par Meridian Bank C/O 7.5% due 7/21/96 Net Proceeds $20,000.00 Fiduciary Acquisition Value 20,000.00 0.00 07/15/1996 41,178.97 par Meridian Bank C/O 8.69% due 7/5/96 Net Proceeds 41,178.97 Fiduciary Acquisition Value 41,178.97 0.00 07/15/1996 20,000 par Meridian Bank C/O 5.25% due 7/11/96 Net Proceeds 20,000.00 Fiduciary Acquisition Value 20,000.00 0.00 04122/1997 25,000 par CoreStates C/O 7.25% due 4/21/97 Net Proceeds Fiduciary Acquisition Value 25,000.00 25,000.00 0.00 07/08/1997 25,000 par CoreStates C/O 7.25% due 7/7/97 Net Proceeds Fiduciary Acquisition Value 25,000.00 25,000.00 0.00 09/18/1997 100,000 par Union National C/O 5.8% due 9/14/97 Net Proceeds 100,000.00 Fiduciary Acquisition Value 100,000.00 0.00 3 11/06/1997 110,000 par Dauphin Deposit C/D 7.02% due 11/4/97 Net Proceeds 110,000.00 Fiduciary Acquisition Value 110,000.00 0.00 04/14/1998 10,000 par Meridian Bank C/D 7.79% due 4/11/98 Net Proceeds 10,000.00 Fiduciary Acquisition Value 10,000.00 0.00 12/28/1998 25,000 par CoreStates C/D 8.1% due 12/21/98 Net Proceeds Fiduciary Acquisition Value 04/19/2000 50,000 par PNC C/D 6.85% due 4/13/00 Net Proceeds Fiduciary Acquisition Value 09/11/2000 3 units Common Trust Fund - Fixed Income Net Proceeds Fiduciary Acquisition Value 09/10/2001 25 units Common Trust Fund - Equity REIT Net Proceeds Fiduciary Acquisition Value 01/07/2004 21 units Common Trust Fund - Equity REIT Net Proceeds Fiduciary Acquisition Value 02/10/2004 23,454.19 par PNC C/D 1.1 % due 3/14/05 Net Proceeds Fiduciary Acquisition Value 25,000.00 25,000.00 0.00 50,000.00 50,000.00 0.00 2,973.77 3,074.68 (100.91) 3,025.47 2,630.36 395.11 3,070.80 2,209.51 861.29 23,429.99 23,454.19 (24.20) 03/19/2004 20,000 par Federal Home Loan Banks 3.75% due 3/3/08 Net Proceeds 20,000.00 Fiduciary Acquisition Value 19,993.75 6.25 01/07/2005 11 units Common Trust Fund - Equity REIT Net Proceeds Fiduciary Acquisition Value 2,110.54 1,157.36 953.18 04/05/2005 10,000 par Bristol-Myers Squibb 4.75% due 10/1/06 Net Proceeds 10,121.80 Fiduciary Acquisition Value 9,985.00 11/29/2005 20,000 par Bank of America 3.375% due 2/17/09 Net Proceeds Fiduciary Acquisition Value 4 136.80 19,086.00 19,020.70 65.30 11/29/2005 10,000 par Federal National Mtg Assoc. 4.375% due 3/22/10 Net Proceeds 9,700.00 Fiduciary Acquisition Value 9,825.00 (125.00) 11/29/2005 15,000 par GlaxoSmithKline PLC 2.375% due 4/16/07 Net Proceeds 14,521.50 Fiduciary Acquisition Value 14,517.98 3.52 12/08/2005 314 units Common Trust Fund - Value Equity Net Proceeds 119,221.59 Fiduciary Acquisition Value 116,022.59 3,199.00 12/08/2005 111 units Common Trust Fund - Equity REIT Net Proceeds 23,740.36 Fiduciary Acquisition Value 22,733.42 1,006.94 12/08/2005 412 units Common Trust Fund - Fixed Income Net Proceeds 411,788.97 Fiduciary Acquisition Value 411,616.14 172.83 02/22/2006 10,000 par PNC C/O 4.04% due 12/04/09 Net Proceeds Fiduciary Acquisition Value 11,081.01 10,000.00 1,081.01 $7,881.23 (250.11 ) $7.631.12 Total Gains and Losses Less Losses Net Gain DISBURSEMENTS OF PRINCIPAL General Disbursements 07/18/1996 Transfer to C. Alvin & Velma H. Light TUA 09/16/2004 Messiah Village - nursing home maintenance 11/15/2004 Messiah Village - nursing home maintenance 01/19/2005 Messiah Village - nursing home maintenance 06/13/2005 Messiah Village - nursing home maintenance 08/15/2005 Messiah Village - nursing home maintenance 11/14/2005 Messiah Village - nursing home maintenance 12/0212005 Register of Wills. Agent - probate fee 12/27/2005 Earl W. Light - reimbursement for out of pocket funeral expenses 12/28/2005 Earl W. Light - reimbursement for funeral expenses 01/23/2006 Holy Spirit Hospital - medical bill $2,000.00 2,015.00 2,015.00 2,015.00 2,015.00 2,077.00 4,087.00 114.00 1,695.56 113.00 157.50 5 ($250.11 ) 01/27/2006 Register of Wills, Agent - PA Inheritance Tax prepayment 02/06/2006 Rothermel Funeral Home, Inc. - funeral and burial expenses 02/07/2006 The Patriot News - advertising Letters Testamentary 04/12/2006 United States Treasury - tax due on form 1040 for 2005 04/12/2006 PA Dept. of Revenue - tax due on for PA40 for 2005 06/23/2006 Yost & Davidson - advertising fee in Cumberland Law Journal 07/13/2006 Register of Wills, Agent- Balance due on PA Inheritance Tax Return Register of Wills- PA Inheritance Tax filing fee Register of Wills- filing fee for Inventory Receipt and Release & Court Filing Hershey Trust Company - executor fee Hershey Trust Company - tax preparation fee 07/13/2006 07/18/2006 Reserve Reserve Reserve 26,000.00 8,798.00 264.60 278.00 96.00 75.00 397.24 15.00 15.00 64.00 2,500.00 750.00 Fees OS/24/2006 Hershey Trust Company - fee for preparation of 2005 federal and state tax returns 550.00 Total Principal Disbursements DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES 12/10/1996 C. Alving Light - to be deposited to PNC checking account 01/24/2006 Jane E. Raser - partial distribution 01/24/2006 Eleanor L. Hess - partial distribution 01/24/2006 Jean E. Macfarlane - partial distribution 01/24/2006 Earl W. Light - partial distribution OS/26/2006 Earl W. Light - distribution for Estate OS/26/2006 Jane E. Raser - distribution for Estate OS/26/2006 Jean E. Macfarlane - distribution for Estate OS/26/2006 Eleanor L. Hess - distribution for Estate TRANSFER TO INCOME 06/17/1996 Transfer to income 01/24/2003 Transfer to income 12/21/2004 Transfer to income 12/30/2004 Transfer to income OS/20/2005 Transfer to income 6 57,556.90 550.00 $58,106.90 $12,000.00 96,000.00 96,000.00 96,000.00 96,000.00 25,000.00 25,000.00 25,000.00 25,000.00 $496,000.00 $1,800.00 26,000.00 100.00 400.52 25.00 OS/27/2005 Transfer to income 07/28/2005 Transfer to income 09/29/2005 Transfer to income PRINCIPAL BALANCE ON HAND Current Value As of 9/11/06 Cash and temporary investments $112,053.53 INFORMATION SCHEDULE - PRINCIPAL Investments Made Units of Temporary Investment Fund were purchased or redeemed as funds were available or required. 06/07/1996 9 units Common Trust Fund - Fixed Income purchased @ 1010.9348 07/08/1996 24 units Common Trust Fund - Fixed Income purchased @ 1016.3022 08/14/1996 13 units Common Trust Fund - Equity purchased @ 155.111 08/14/1996 40 units Common Trust Fund - Fixed Income purchased @ 1013.1019 09/05/1996 32 units Common Trust Fund - Equity purchased @ 159.3396 09/05/1996 24 units Common Trust Fund - Fixed Income purchased @ 1008.2822 11/06/1996 5 units Common Trust Fund - Fixed Income purchased @ 1027.7872 12/05/1996 10 units Common Trust Fund - Fixed Income purchased @ 1035.2692 05/08/1997 11 units Common Trust Fund - Equtiy purchased @ 179.1569 07/10/1997 39 units Common Trust Fund - Fixed Income purchased @ 1016.2899 08/08/1997 26 units Common Trust Fund - Equity purchased @ 208.422551 08/08/1997 20 units Commn Trust Fund - Fixed Income purchaSed @ 1031.041 09/09/1997 24 units Common Trust Fund - Equity purchased @ 210.716427 10/09/1997 47 units Common Trust Fund - Equity purchased @ 222.6836 10/09/1997 69 units Common Trust Fund - Fixed Income purchased @ 1026.6135 11/10/1997 45 units Common Trust Fund - Equity purchased @ 215.0011 11/10/1997 78 units Common Trust Fund - Fixed Income purchased @ 1032.7545 12/08/1997 9 units Common Trust Fund - Equity purchased @ 221.3807 12/08/1997 19 units Common Trust Fund - Fixed Income purchased @ 1029.4065 04/07/1998 10 units Common Trust Fund - Fixed Income purchased @ 1030.1646 01/12/1999 23 units Common Trust Fund - Fixed Income purchased @ 1048.7882 04/19/2000 20,000 par PNC C/D 6.5575 due 3/14/02 purchased @ 100.00 7 500.00 225.00 205.81 $29,256.33 Fiduciary Acquisition Value $112,053.53 $9,098.41 24,391.25 2,016.44 40,524.08 5,098.87 24,198.77 5,138.94 10,352.69 1,970.73 39,635.31 5,418.99 20,620.82 5,057.19 10,466.13 70,836.33 9,675.05 80,554.85 1,992.43 19,558.72 10,301.65 24,122.13 20,000.00 06/08/2000 50 units Common Trust Fund - Equity REIT purchased @ 100.00 07/11/2000 48 units Common Trust Fund - Equity REIT purchased @ 102.929 08/07/2000 44 units Common Trust Fund - Equity REIT purchased @ 111.7292 09/11/2000 18 units Common Trust Fund - Equity REIT purchased @ 107.2277 10/06/2000 4 units Common Trust Fund - Value Equity purchased @ 236.3248 10/06/2000 5 units Common Trust Fund - Fixed Income purchased @ 995.4339 10/06/2000 8 units Common Trust Fund - Equity REIT purchased @ 111.1603 05/07/2001 14 units Common Trust Fund - Fixed Income purchased @ 1024.6808 06/08/2001 4 units Common Trust Fund - Fixed Income purchased @ 1024.2286 09/10/2001 8 units Common Trust Fund - Value Equity purchased @ 242.1116 09/10/2001 1 unit Common Trust Fund - Fixed Income purchased @ 1042.5996 10/05/2001 4 units Common Trust Fund - Value Equity purchased @ 221.3179 10/05/2001 1 unit Common Trust Fund - Fixed Income purchased @ 1057.1465 03/07/2002 10,000 par Bristol-Myers Squibb 4.75% 10/1/06 purchased @ 99.85 09/09/2002 42 units Common Trust Fund - Value Equity purchased @ 237.162 02/11/2003 4 units Common Trust Fund - Fixed Income purchased @ 1077.3753 02/11/2003 43 units Common Trust Fund - Value Equity purchased @ 227.5759 12/05/2003 6 units Common Trust Fund - Value Equity purchased @ 291.037 02/18/2004 20,000 par Federal Home Loan Bank 3.75% due 3/3/08 purchased @ 99.96875 03/01/2004 20,000 par Bank of America 3.375% due 2/17/09 purchased @ 99.72 04/07/2004 15,000 par GlaxoSmithKline PLC 2.375% due 4/15/07 purchased @ 99.366 04/07/2004 5 units Common Trust Fund - Fixed Income purchased @ 1071.5025 01/07/2005 2 units Common Trust Fund - Fixed Income purchased @ 1035.1715 04/13/2005 10,000 par Federal National Mtg Assoc. 4.375% due 3/22/10 purchased @ 99.75 10/07/2005 9 units Common Trust Fund - Fixed Income purchased @ 1008.4801 Changes in Investment Holdings NONE RECEIPTS OF INCOME Waiver of Income Accounting An income accounting having been waived for the period May 3,1996 to September 30, 2005, a limited schedule of receipts of income follows: Balance per last income statement rendered, 9/30/05 Miscellaneous Receipts 02122/2006 Cash - income earned after date of death on PNC Certificate of Deposit 119.80 8 5,000.00 4,940.59 4,916.08 1,930.10 945.30 4,977.17 889.28 14,345.53 4,096.91 1,936.89 1,042.60 885.27 1,057.15 9,985.00 9,960.80 4,309.50 9,785.76 1,746.22 19,993.75 19,944.00 14,904.90 5,357.51 2,070.34 9,975.00 9,076.32 $0.00 119.80 Common Trust Fund Fixed Income Earnings 10/07/2005 Common Trust Fund - Value Equity 10/07/2005 Common Trust Fund - Fixed Income 10/07/2005 Common Trust Fund - Equity REIT 11/07/2005 Common Trust Fund - Value Equity 11/07/2005 Common Trust Fund - Fixed Income 11/07/2005 Common Trust Fund - Equity REIT 12/07/2005 Common Trust Fund - Value Equity 12/07/2005 Common Trust Fund - Fixed Income 12/07/2005 Common Trust Fund - Equity REIT Dividends NONE Interest 10/18/2005 15,000 par GlaxoSmithKline PLC 2.375% due 4/16/07 11/29/2005 20,000 par Bank of America 3.375% due 2/17/09 11/29/2005 10,000 Federal National Mtg Assn. 4.375% due 3/22/10 11/29/2005 15,000 par GlazoSmithKline PLC 2.375% due 4/16/07 Interest from temporary investment funds 2005 October November December 2006 January February March April May June July August September Total Income Receipts DISBURSEMENTS OF INCOME 10/28/2005 Hershey Trust Company - monthly market value fee 11/29/2005 Hershey Trust Company - monthly market value fee 12/15/2005 Messiah Village - balance due 12/29/2005 Hershey Trust Company - monthly market value fee 9 164.68 1,615.13 127.86 132.42 1,691.20 37.32 157.45 1,644.19 104.24 178.12 191.25 81.42 43.54 105.71 100.33 104.40 1,780.26 1,886.74 726.78 861.65 867.94 849.20 513.03 554.54 560.34 5,674.49 0.00 494.33 8,910.92 $15,199.54 $493.92 490.54 201.00 491.97 01/30/2006 Hershey Trust Company - monthly market value fee 02/27/2006 Hershey Trust Company - monthly market value fee 03/30/2006 Hershey Trust Company - monthly market value fee 04/27/2006 Hershey Trust Company - monthly market value fee 05/30/2006 Hershey Trust Company - monthly market value fee 06/29/2006 Hershey Trust Company - monthly market value fee 07/28/2006 Hershey Trust Company - monthly market value fee 08/30/2006 Hershey Trust Company - monthly market value fee 491.57 183.57 189.92 190.27 190.59 103.78 112.75 112.75 $3,252.63 DISTRIBUTIONS OF INCOME TO BENEFICIARIES NONE $0.00 BALANCE OF INCOME ON HAND Current Value As of 9/11/06 Fiduciary Acquisition Value Cash and temporary investments $11,946.91 $11,946.91 10 PROPOSED DISTRIBUTIONS TO BENEFICIARIES Per Section 28 of the C. Alvin Light Revocable Trust Agreement Current Fiduciary Value Acquisition As of 9/11/06 Value PRINCIPAL: TO: Earl W. Light Cash $28,013.39 $28,013.39 TO: Jean Macfarlane Cash 28,013.38 28,013.38 TO: Eleanor Hess Cash 28,013.38 28,013.38 TO: Jane Raser Cash 28,013.38 28,013.38 Total Principal $112,053.53 $112,053.53 INCOME: TO: Earl W. Light Cash $2,986.72 $2,986.72 TO: Jean Macfarlane Cash 2,986.73 2,986.73 TO: Eleanor Hess Cash 2,986.73 2,986.73 TO: Jane Raser Cash 2,986.73 2,986.73 Total Income $11,946.91 $11,946.91 Combined Total $124,000.44 $124,000.44 11 LISA PIERGALLlNI, Trust Administrator, Hershey Trust Company, Trustee under the Trust Agreement of C. Alvin Light, deceased, hereby declares under oath that said Trustee has fully and faithfully discharged the duties of her office; that the foregoing First and Final Account is true and correct, and fully discloses all significant transactions occurring during the accounting period; that all known claims against the trust have been paid in full; that, to her knowledge, there are no claims now outstanding against the trust; and that all taxes presently due from the trust have been paid. HERSHEY TRUST COMPANY, Trustee B~flr~ T st ministrator Subscribed and sworn to by Lisa Pie rg.a iii ni before me this IJ~ day of .$t,p{jyy(U )fJL- , 2006. ~A(1~ Nota ublic COMMONWEALTH OF PENNSYLVANIA Notarial Seal Sherry A. Chapman, Notary Public Derry Twp., Dauphin County My Commission Expires Mar. 30, 2()10 Member. Pennsylvania Associallon of Notarie8