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Home My WebLink About10-26-06 (2) FAMILY AGREEMENT AND RELEASE This Agreement entered into this /Cf!J day of September, 2006, by and between Florence E. Fultz, Executrix, and Aaron J. Fultz, individually as sole beneficiaries of the Estate of Larry E. Fultz, and also with Florence E. Fultz in her capacity as Executrix of the Estate. WHEREAS Larry E. Fultz ("Decedent") died intestate on August 20,2005, a resident of East Pennsboro Township, Cumberland County; WHEREAS, a Petition for Grant of Letters of Administration were filed with the Register of Wills of Cumberland County on February 28, 2006, and Letters of Administration were issued to Florence E. Fultz, Executrix; WHEREAS, the undersigned are the sole surviving beneficiaries of the entire Estate; WHEREAS, the Executrix has prepared and filed an Inventory and Appraisement of Decedent's property and a Pennsylvania Inheritance Tax Return and paid the appropriate taxes thereon; WHEREAS, the Executrix has paid all of the taxes, debts and expenses of the estate and administration thereof known to her, and she has no knowledge of any unpaid clams, absolute or contingent, which may be asserted against the Estate nor does she have any reason to believe that there are any such claims; WHEREAS, all net assets of the Estate have been distributed in equal shares totbe undersigned, as beneficiaries of the estate; WHEREAS, the Executrix has prepared an Informal Accounting of all assets, debts, taxes and expenses of the Estate, which accounting is attached here marked:as Exhibit ---i ... ;:-.) , ,l - , 1 "A", and incorporated herein by reference; C;) -.f':: WHEREAS, the undersigned acknowledge and specifically agree that all Estate assets, receipts, expenses, disbursements and distributions are summarized as set forth cumulatively in the Pennsylvania Inheritance Tax Return, Inventory and Appraisement, and Informal Accounting of Florence E. Fultz, copies and full and fair disclosure of which have been provided to each of the undersigned and receipt thereof is acknowledged (hereinafter collectively the "Summary of Transactions"); and WHEREAS, both of the undersigned desire that this Family A~lreement and Release make unnecessary the filing of any accounting in the Orphans' Court Division of the Court of Common Pleas of Cumberland County and any further informal or other accounting of the Executrix. NOW, THEREFORE, intending to be legally bound, the parties agree and do hereby: 1. 2. Incorporate herein by reference the foregoing recitals. Waive the filing of any account of the administration of the Estate in any court. 3. Declare that the undersigned have examined the Summary of Transactions of the Executrix, find it to be true and correct in all particulars accept and approve it in the same force and effect as if it had been prepared as and in the form of a formal account and filed with, audited, adjudicated and confirmed absolutely by a court of competent jurisdiction and as if the balance of principal and income had been awarded by the court in accordance with a statement or schedule of distribution. 4. Warrant and represent that they are the sole beneficiaries and remaining parties of interest in the Estate and entitled to receive the entire distribution thereof. ') 5. Warrant and represent that they know of no outstanding unsatisfied claims against the Estate. 6. Acknowledge the receipt and approve the distribution of all assets of the Estate, principal and income thereof, to the undersigned in equal shares. The undersigned beneficiaries respectively acknowledge and agree that they have received respectively all of the distributions as set forth on the Schedule of Distribution attached hereto marked as Exhibit "8" and incorporated herein by reference, comprising all remaining assets of the estate. 7. Absolutely and irrevocably release and discharge the Executrix, her heirs, personal representatives, successors and assigns of and from any and all actions, liabilities, claims and demands relating in any way to her administration of the Estate and distribution without a court accounting and adjudication. 8. Agree to contribute and pay in equal shares the sum of any additional amounts determined to be due and owing, if any, from the Commonwealth of Pennsylvania by reason of any inheritance, estate or other tax. IN WITNESS WHEREOF, the undersigned have set their hand and seal the date above written: ~s -~."'- C(1t:~... / 'l./ /, '. ~ ;~~. ~\/~Gb - Aaron J. tultz ~ ' .'.-. ~ . j G \./ ... / :/At/-L- G. Florence E. Fultz (:;/ //;j/ \)1/'.-t&tf " .) COMMONWEALTH OF PENNSYLVANIA ~UM&:fU-'+~j) :SS: COUNTY OF fJAllplllN Before me this Icrt:!. day of SPIJ.rNt""'r , 2006, before me a Notary Public, the undersigned officer personally appeared Aaron J. Fultz, known to me or satisfactorily proven to be the person whose name is subscribed tD the within instrument and acknowledge that he executed the same for the purposes herein contained. In witness whereof, I hereunder set my hand and official seal. COMMONWEALTH OF PENNSYLVANii\ Notarial Seal Susan L. Matrazi, Notary Public Mechanicsburg Bora. Cumber1and County My Commission Expires Nov. 24, 2007 Member. P.enn~yJvanla Asspciation Of Notaries My commission expires: lA_ ,:< ?J!, };t.. No(ary Public ~, COMMONWEALTH OF PENNSYLVANIA :ss: COUNTY OF DAUPHIN Before me this :1 (-+~ day of ~;t:: (Tf:.\YI fJE R , 2006, before me a Notary Public, the undersigned officer personally appeared Florence E. Fultz, known to me or satisfactorily proven to be the person whose name is subscribed tD the within instrument and acknowledge that she executed the same for the purposes herein contained. In witness whereof, I hereunder set my hand and official seal. C) r ~ /-, '. '/ {\../-(L.t.<f Notary PublicU '. (}(2 , f" -I ~ ',- v~ V /' )cJ't,D~/ <--I My commission expires: iF O~.VANIA !\IOTAHIA.L SEAL NANCY L 8RESKI, Notary Public Township. Dauphin County <,);:ilc'~ Marph 16, 2008 . . - ........."...- m __._.......;...J 105409 EX-llIBIl A ESTATE OF LARRY E. FULTZ ESTATE NO. 2006-00182 INFORMAL ACCOUNT OF FLORENCE E. FULTZ, EXECUTRIX DATE OF DEATH: LETTERS OF ADMINISTRATION GRANTED: ACCOUNT STATED TO: August 20, 2005 February 28,2006 August 15, 2tJrtJS- ._~ ,,,..,.... S e.. r }. 11. ?,.; () ''<... r::- r-- ~i F SUMMARY Principal Receipts Principal Disbursements $66,885..37 $14,001..63 Net Distributable Estate $52,883..74 RECEIPTS OF PRINCIP AL Assets listed in Inventory: (Valued as of date of death) Cash Deposits: 03/03/06 Cash Distribution from Estate of George M. Fultz Final cash distribution from Estate of George M. Fultz 04/24/06 Tangible Personal Property: 1) Firearms Winchester Model 70 220 rifle Winchester Model 70 264 rifle Savage Model 99 300 rifle 45 caliber automatic pistol Smith & Wesson K-22 pistol Winchester Model 12-gauge shotgun L.c. Smith 12-gauge shotgun 2) Fultz Family Coat of Arms & Fultz Family History 3) Walnut rocking chair 4) 1989 Bayliner boat 5) 1989 Escort Trailer 6) Norfolk Southern Corporation Common Stock TOT A I. RFl'FIPTS OF PRINCIPAL $55,193.85 $1,320.72 $56,514.57 $ 425.00 $ 400.00 $ 350.00 $ 125.00 $ 150.00 $ 250.00 $ 325.00 0.00 $ 50.00 $7,165.00 $ 250.00 $ 880.80 $10,370.80 566,885.37 DISBURSEMENTS OF PKINCIP AL Funeral Expenses: Sullivan Funeral Home Flowers Luncheon United Methodist Church - West Fairview Administrative Expenses: Register of Wills, probate fees, Short Certificates, filing fees Photocopies Register of Wills, additional probate fees Register of Wills, Amended Petition Fees, Commissions and Family Exemption: Caldwell & Kearns - attorney fees Family Exemption - Florence E. Fultz Inheritance Tax: Register of Wills Gross Estate $54,672.37 50% taxable at spousal rate taxable at lineal/Class A rate Reserves: Register of Wills, file Family Agreement & Release TOT AL PRINCIP AL DISBURSEMENTS BALANCE BEFORE DISTRIBUTIONS $6,414.00 $ 212.00 $ 140.00 $ 75.00 $6,841.00 $115.00 $ 5.00 $ 45.00 $ 60.00 $180.00 $2,230.50 $3,500.00 $5,730.50 0.00 1.230.13 $ 1,230.13 $13,981.63 $ 20.00 $ 20.00 $15,001.63 ~~L7!l VERIFICATION I, Florence E. Fultz verify that the averments made in this Informal Account of the Estate of Larry E. Fultz, are true and correct to the best of my knowledge, infornlation and belief. I understand that false statements herein are made subject to the penalties of 18 Pa.C.S. Section 4904 relating to unsworn falsification to authorities. , / ,\ . Q ) . Dated: C'.ic~...e LJ/t.. I L, .::;x (h) h / ' & ) :;r<;/ /?' . ' 1.->' ' " _ / ,-~' " >' /f . .~'::-: .' <ut4'ZV:"--e. ~:~;;0 //1.", . Florence E. Fultz \~ ) SCHEDULE OF DISTRIBUTION Balance for Distribution as per Informal Account DISTRIBUTION TO: Aaron]. Fultz 50% of Estate as follows: In Kind: 1) Winchester Model 70 220 rifle 2) Savage Model 99 300 rifle 3) Smith & Wesson K-22 pistol 4) Winchester Model 12-gauge shotgun 5) L.c. Smith 12-gauge shotgun 6) Fultz Family Coat of Arms & Fultz Family History . Cash TO: Florence E. Fultz: 50% of Estate as follows: In Kind: 1) Winchester Model 70264 rifle 2) 45 caliber automatic pistol 3) Walnut rocking chair 4) 1989 Bayliner boat 5) 1989 Escort Trailer 6) Norfolk Southern Corporation Common Stock . Cash $425.00 $350.00 $150.00 $250.00 $325.00 $ 0.00 $1,500.00 $24,941.87 $400.00 $125.00 $50.00 $7,165.00 $250.00 $880.80 $8,870.80 $17,571.07 TOTAL DISTRIBUTION 05-685/105410 $52,883.74 $26,441.87 $26,441.87 S52,883.74