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Home My WebLink About10-25-06 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION ESTATE OF MARGARET E. GARVER NO. 2006-00399 FIRST AND FINAL ACCOUNT OF RAY A. GARVER. JR..EXECUTOR Date of Death: April 27, 2006 Date of Executor's Appointment: May 4,2006 Grant of Letters Published: Patriot News - 5/17, 5/24, 5/31 2006 Cumberland Legal Journal- 5/19, 5/26, 6/2 2006 Purpose of Account: Ray A. Garver, Jr., Executor, offers this account to acquaint interested parties with the transactions that have occurred during his administration. This account also indicates the proposed distribution. It is important that the account be carefully examined. Requests for additional information or questions or objections can be discussed with: Gregory J. Katshir, Esquire 900 Market Street Lemoyne PA17043 (717) 763-8133 SUMMARY Principal Debts of Decedent Funeral Expenses Administrative Expenses Federal and State Taxes Fees and Commissions $824,463.38 f"oo:> ("") = <:::;) ~o c:n ~':X:J CTl $15,565.57 o;;:g 0 C) ,} ("") n C"J ,')~r- --t :0 ... 7 rTl N C:.J .'': 2;;:::r.J CJl n-l ..., ^ 0 '-(")0 ." C> ~:-)(J 11 '-n :::)C ::J:: ., $0.00 . ::0 N ("-) -0 --I rn $6,550.00 )> (...) C) '''1 I $1,409.12 0'\ $39,388.08 $225.00 Receipts Net Gain on Sale of Bonds Less Distributions: Balance Before Distributions $792,456.75 $540,174.32 $252,282.43 Distributions to Beneficiaries Principal on Hand RECEIPTS OF PRINCIPAL DATE OF DEATH VALUE (See copy of attached Inventory filed on July 19,2006) Cash: Wachovia Securities A. Money Market B. General Motors Bond C. Federal Home Loan Mort. Co. Bond D. Freddie Mac Bond $3391.91 $31,591.60 $49,449.50 $191,664.00 PNC Bank - Checking Account (Joint owner with Ray A. Garver, Jr.) $276,097.01 $3,958.30 Total: $280055.31 Tangible Personal Property: None Total: $0.00 Annuities: See attached copy of Pennsylvania Inheritance Tax Return Schedule "G" - Non Probate Property. Decedent was the owner of nine (9) separate annuities at Ameriprise Financial. The annuities have (or will be) distributed to named beneficiaries. Decedent's value: $536,216.02 Realty: None Total: $0.00 RECEIPTS SUBSEQUENT TO DATE OF DEATH 1. Wachovia Securities Interest Income 2. Pennsylvania State Bank Interest Income $5525.45 $2666.60 Total: $8192.05 TOTAL RECEIPTS OF PRICIPAL $824.463.38 GAINS ON SALE OF BONDS 1. 7/17/06 $200,000 face value, Freddie Mac Bond due 3/15/24 Net proceeds $200,000 Fiduciary Acquisition value $191,664 Gain Loss $8336 2. 7/17/06 $40,000 face value General Motors Bond due 6/15/18 Net proceeds $40,000 Fiduciary Acquisition Value $31,592 $8408 3. 10/06/06$50,000 face value FHLM Bond due 8/15/14 Net proceeds $48,271.07 Fiduciary Acquisition Value $49,449.50 $1178.43 TOTAL GAIN ON SALE OF BONDS $15,565.57 DISBURSEMENTS OF PRINCIPAL Debts of Decedent None TOTAL $0.00 Funeral Expenses Myers Funeral Home, Inc. $6550.00 TOTAL $6550.00 Administrative Expenses 1. Register of Wills 2. Patriot News 3. Cumberland Law Journal 4. Myers Funeral Home, Inc (Death Certs) 5. Gingrich Memorials (Headstone) 6. Register of Wills (First and Final Account fee) $410.00 $84.12 $75.00 $110.00 $200.00 $530.00 TOTAL $1409.12 Federal and State Taxes 1. Register of Wills, Agent (Pennsylvania Inheritance Tax) $34,552.08 2. Pa. Dept of Revenue (2006 Fiduciary Income Tax) $726.00 2. United States Treasury (2006 Fiduciary Income Tax) $4110.00 TOTAL: $39.388.08 Fees and Commissions Crystal Hackett, CPA $225.00 TOTAL: $225.00 DISTRIBUTIONS OF PRINCIPAL TO BENEFICIARIES TO: Named Beneficiaries of Annuities as indicated on PAGE 2 above (As of the date of filing, beneficiaries mayor may not have obtained their funds from contract holder, Ameriprise Financial. All beneficiaries have been notified of their beneficiary designation.) Decedent's value TOTAL $536,216.02 TO: Ray Garver - joint owner of PNC checking account Decedent's value TOTAL $3,958.30 TOTAL DISBURSEMENTS $540.174.32 PRINCIPAL ON HAND Pennsylvania State Bank Checking Account $251,811.96 $470.47 Pennsylvania State Bank Savings Account PROPOSED DISTRIBUTION TO BENEFICIARIES Pursuant to Cumberland County Local Rule 6.9-3, the following is a statement of proposed distribution.: The Estate consists of a checking account in the amount of $470.47 and saving account in the amount of$ 251,811.96. All distributions to beneficiaries will be made in cash. Pursuant to Paragraph FOURTH of the Will, 1/3 of the remainder of the Estate is to be divided in equal shares between Margaret Kreitzer, Elizabeth Kreitzer, Alan Kreitzer, Gail Kreitzer and Kimberly Murphy; 1/3 of the Estate is to be divided equally among Robert Moyer, Lori Moyer and Daniel Moyer; and of the final 1/3, Robert Barr and Richard Barr are each to receive $25,000.00 and Tracy Katshir is to receive the remainder. In addition, the Pennsylvania Inheritance Tax levied upon the value of the annuities was paid by the Estate. Due to absence of contrary intent appearing in the Will, the ultimate liability of payment of those inheritance taxes rests upon the transferee. In that all beneficiaries of the annuities are also heirs of the residuary estate and in lieu of each transferee providing a check to the Estate, for his or her share of taxes, to be later divided by one-thirds and distributed back to the heirs, Tracy Katshir who is responsible for $9800.10 ofInheritance tax, shall receive $1764.00 less than her remainder share. Of the $1764, the Kreitzers named above shall each receive an extra $336.00 and the Moyers named above shall receive an extra $28.00. By retaining any amount that would have otherwise been reimbursed to the Estate for taxes and with the above payment, each beneficiary receives the amount that he or she would have received had they actually reimbursed the Estate. The calculation for distribution is as follows: $252,282.42/3 = $84,093.14 Statement of Distribution per Paragraph FOURTH of Will: TO: Robert Moyer $17,154.82 ($84,093.14/5 = $16,818.62 + $336) $17,154.82 $17,154.82 $17,154.82 $17,154.82 $28,059.38 ($84,093.14/3 = $28,059.38 + $28) $28,059.38 TO: Margaret Kreitzer TO: Elizabeth Kreitzer TO: Alan Kreitzer TO: Gail Kreitzer TO: Kimberly Murphy TO: Lori Moyer TO: Tracy Katshir $28,059.38 $32,330.14 ($84,093.14 - $50,000 (Barr share)- $1764) TO: Daniel Moyer TO: Robert Barr $25,000.00 TO: Richard Barr $25,000.00 TOTAL TO BE DISTRIBUTED $252.282.42 AFFIDAVIT OF ACCOUNTANT COMMONWEALTH OF PENNSYLVANIA SS: COUNTY OF CUMBERLAND The above named Accountant being duly sworn according to the law deposes and says that Letters Testamentary were granted to Ray A. Garver, Jr. and advertised more than four months prior to the filing hereto; that the disbursements shown in the account have been made to the parties entitled thereto and that the account as COMMONWEALTH OF PENNSYLVANIA NOTARIAL SEAL LORI K. HEENAN. Notary Public Camp Hill City. Cumberland County Cornn1iIIIPt . June 20, 2009 SW SUBSCRIBED to before me this ~ 5 day of Oc~F- a~~~ A. G?eY4 veril.Y. believes. / -----j. I stated is true and correct as Ray , 2006 Notary Public REQUEST FOR DISTRIBUTION Account requests that distribution be determined by the Court in accordance with the Petition for Distribution to be offered in evidence as the audit of this account. I~^ -{ COMMONWEALTH OF PENNSYLVANIA NOTARIAL SEAL LORI K. HEENAN, Notary Public C.-np HI City, Cumberland County ~ . June 20, 2009 Subscribed and sworn to By Ray A. Garver, Jr., before me this 01. 5 day of Ct--~ , 2006 d~ Notary Public RAY A. GARVER, JR., Executor of the Estate of Margaret Garver, hereby declare under oath that he has fully and faithfully discharged the duties of his 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 Estate have been paid in full; that to his knowledge, there are no claims now outstanding against the Estate; and that all taxes presently due from the Estate have been paid. '}JA, j Ray~. ~arver, Jr., Executor .. THE PATRIOT NEWS THE SUNDAY PATRIOT NEWS Proof of Publication Under Act No. 587, Approved May 16, 1929 Commonwealth of Pennsylvania, County of Dauphin} ss Joseph A. Dennison, being duly sworn according to law, deposes and says: That he is the Assistant Controller of The Patriot News Co., a corporation organized and existing under the laws of the Commonwealth of Pennsylvania, with its principal office and place of business at 812 to 818 Market Street, in the City of Harrisburg, County of Dauphin, State of Pennsylvania, owner and publisher of The Patriot- News and The Sunday Patriot-News newspapers of general circulation, printed and published at 812 to 818 Market Street, in the City, County and State aforesaid; that The Patriot-News and The Sunday Patriot-News were established March 4th, 1854, and September 18th, 1949, respectively, and all have been continuously published ever since; That the printed notice or publication which is securely attached hereto is exactly as printed and published in their regular daily and/or Sunday/ Metro editions which appeared in the 17th, 24th and 31st day(s) of May 2006. That neither he nor said Company is interested in the subject matter of said printed notice or advertising, and that all of the allegations of this statement as to the time, place and character of publication are true; and That he has personal knowledge of the facts aforesaid and is duly authorized and empowered to verify this statement on behalf of The Patriot-News Co. aforesaid by virtue and pursuant to a resolution unanimously passed and adopted severally by the stockholders and board of directors of the said Company and subsequently duly recorded in the office for the Recording of Deeds in and for said County of Dauphin in Miscellaneous Book "M", Volume 14, Page 317. PUBLICATION COPY s;;;;;;;;;~.~~.:;~ NoIariaI Seal Teny L AusaelI. Notary Public CIlyOf County My ~une 6. 2010 ocIatlon f NOT PUBLIC My commission expires June 6, 2006 GREGORY J. KATSHIR ATTORNEY AT LAW 900 MARKET STREET LEMOYNE, P A. 17043 PROOF OF PUBLICATION OF NOTICE IN CUMBERLAND LAW JOURNAL (Under Act No. 587, approved May 16,1929), P. L.1784 COMMONWEALTH OF PENNSYLVANIA SSe COUNTY OF CUMBERLAND Lisa Marie Coyne, Esquire, Editor of the Cumberland Law Journal, of the County and State aforesaid, being duly sworn, according to law, deposes and says that the Cumberland Law Journal, a legal periodical published in the Borough of Carlisle in the County and State aforesaid, was established January 2, 1952, and designated by the local courts as the official legal periodical for the publication of all legal notices, and has, since January 2, 1952, been regularly issued weekly in the said County, and that the printed notice or publication attached hereto is exactly the same as was printed in the regular editions and issues of the said Cumberland Law Journal on the following dates, Viz May 19,2006, May 26,2006 and June 2, 2006 Affiant further deposes that he is authorized to verify this statement by the Cumberland Law Journal, a legal periodical of general circulation, and that he is not interested in the subject matter of the aforesaid notice or advertisement, and that all allegations in the foregoing statements as to time, place and character of publication are true. GuYeI', llarpret E., dee'd. Late of Hampden Township. Executor: Ray A. Garver, Jr., c/o GregoI)' J. Katshir. Esquire. 900 Market Street. Lemoyne, PA 17043. Attorney: Gregory J. Katshir. Es- quire. SWORN TO AND SUBSCRIBED before me this 19 day of May, 2006 /)Ip -~ ~~t~ ~fI- COMMONWEALTH OF PENNSYLVANIA NOTARIAL SEAl HENRY F. COYNE, NOTARY PUBLIC HAMPDEN TWP., CUMBERLAND COUNTY MY COMMISSION EXPIRES JUNE 17, 2008 ---- Inventory of the real and personal estate of Mar9aret E c'~rver 1 Wacovia Securities - Account No. 3608-0360 2 PNC Bank checking account No. 5140022749 3 Arneriprise Financial Annuities deceased TOTAL $276,09 .00 $536,21 .02 I'..: ;.1 , ~ ',,~J C,,) : c,:~ '" (.'~':'5 t,l .-- $816,271.3 REV.ISIQ EX -1,.97) '* SCHEDULE G INTER.VIVOS TRANSFERS & MISC. NON.PROBA TE PROPERTY COMMONWEALTH OF PENNSYLVANIA INHERITANCE TAX RETURN RESIDENT DECEDENT Margaret E Garver FILE NUMBER 21-0fl-01QQ ESTATE OF This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REY-1500 COYER SHEET is yes. DESCRIPTION OF PROPERTY %OF ITEM INCLlioe THE NAME OF THE TRANSFEREE, THEIR RELATIONSHIP TO OECEDENT ANO THE CATE OF lRANSfER DATE OF DEATH DECD'S EXCLUSION TAXABLE VALUE ATTACH A COP'! OF THE DEEO FOR REAL ESTATE. VALUE (''IF ASSET INTEREST /IF APPLICABLE I NUMBER 1. Ameriprise Financial Annuity $217,780.18 100% ~217,780.1 Account No. 0930 0198 8567 0 004 Beneficiary-Tracy Katshir (granddaugh er) 2 Ameriprise Financial Annuity $58,970.48 100% $58,970.4 Account No. 0930 0198 8671 2 004 Beneficiary-Robert Moyer (grandson) 3 Ameriprise Financial Annuity $58,970.48 100% $58,970.4 Account No. 0930 0198 8574 6 004 Beneficiary-Daniel Moyer ( greatgrandsc n) 4 Ameriprise Financial Annuity $58,970.48 100% $58,970.4 Account No. 0930 0198 8576 1 004 Beneficiary-Lori Jean Moyer (great grc nddaughter) 5 Ameriprise Financial Annuity $28,304.88 100% $28,304.8 Account No. 0930 0198 8578 7 004 Beneficiary-Gail Kreitzer (granddaught er) 6 Ameriprise Financial Annuity $28,304.88 100% $28,304.8 Account No. 0930 0198 8580 3 004 Beneficiary-Margaret Kreitzer ( gr anddc ughter) 7 Amerprise Financial Annuity $28,304.88 100% $28,304.8 Account No. 0930 0198 8582 9 004 Beneficiary-Alan Kreitzer (grandson) 8 Ameriprise Financial Annuity $28,304.88 100% $28,304.8 Account No. 0930 0198 8586 0 004 Beneficiary-Elizabeth Kreitzer ( grandc aughter) 9 Ameriprise Financial Annuity $28,304.88 100% $28,304.8 . Account No. 0930 0198 8595 1 004 Beneficiary-Kim Murphy (granddaughter) TOTAL (Also enter on line 7. Recapitulation) $ 536,216.02 8 8 8 8 8 8 8 8 8 (If more space is needed, insert additional sheets of the same size) ~'~h'~$ 9C::P6-€9L (HL) XB.:l . €€ ~B-€9L (HL) €POL ~ B!Ue^IASUuad 'auAowal laaJIS la>pBV'II 006 Melle AaUJOllV ~IHS.LV)l . f A~ODffiID - eBB .':!! ~ 0 CIl to - :.;:: 5{g-ijE'OEi.: g oClljB51~~t 1 I; it~i~ b ;; H;J~5l; i !.. f JhiH . f~jfHi' fi ~~~~~.";-. .g t08C::: oC5;g~ Ii; Gl ~ -GlCllO .c:::SE~'C::. -g~~u -CI):;::..~Clll.c:::.o<( c: c: - al 0 o 1::=o~ _ C) I ::J .;:: - Q) c::: 2:- .c: 0 J c: Q. CIl CIl i! 0 Q) ~ ... E'(3 ~i~~'~~~~ L HiUBi ~' i ~ ... Z ~ ~ ~ t5 '''- J::Q)D. 8i6{,;.l/) = '3 i~.8'a~c~: ~ i~i~li~l~ ~~i~g~!~~ ~ ~8~!~~g~~ "- .Q~=5~::Jc:c", ~ Sn~~~~~