HomeMy WebLinkAbout11-01-06
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15056041125
REV -1500 EX (06-05)
PA Depar1mentof Revenue.
Bureau of Indivldual Taxes INHERITANCE TAX RETURN
PO BOX 280601
HarTisbura, PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death
OFFICIAL USE ONLY
County Code Year
2 1 0 6
File Number
03'1
Date of Birth
165381144
o 2 042 0 0 6
06181945
Decedent's Last Name Suffix
HARRIS JR
Decedent's First Name
RICHARD
MI
H
(If Applicable) Enter Surviving Spouse's Infonnation Below
Spouse's Last Name Suffix
H A R R I S
Spouse's First Name
PATRICIA
MI
M
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WillS
FlU IN APPROPRIATE OVALS BELOW
IX) 1. Original Retum
D 4. Limited Estate
IX) 6. Decedent Died Testate
(Attach Copy of Will)
D 9. Litigation Proceeds Received D 10. Spousal Poverty Credit (date of death 0 11. Election to tax under Sec. 9113(A)
between 12-31-91 and 1-1-95) (Attach Sch. 0)
CORRESPONDENT - THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL T~ INFO~8N SHOU~ DIRECT~~O:
Name Daytime Teletip~ Num~ I~H (_:)
D A V I D H R A D C L IFF E S Q 7 1 7 :2~ 32 6 ~ 3 ~i ::BJ
,-c~ CFJ I rr:J ~
REGIS1'J~;>r~LLS USE ONt _; ;:.
:-2 '" '2;! - ;-i ='1
- -.1 ;:.-
..:',:~ N r-
D
o 4a. Future Interest Compromise (date of
death after 12-12-82)
D 7. Decedent Maintained a Living Trust
(Attach Copy of Trust)
8. Total Number of Safe Deposit Boxes
2. Supplemental Return
o
o
3. Remainder Retum (date of death
prior to 12-13-82)
5. Federal Estate Tax Return Required
Firm Name (If Applicable)
R A D C L IFF LAW 0 F F ICE P
First line of address
2 0 E R FOR D R 0 A D
w
CJ\
Second line of address
SUI T E 200
City or Post Office
State
ZIP Code
DATE FILED
LEMOYNE
P A
1 7 0 4 3
Correspondent's e-mail address:DHRAD@IX.NETCOM.COM
Under penalties of perjury, I declare lhat I have examined lhis return, Including accompanying schedules and statements, and to lhe best of my knowledge and belief,
it is true, correct and complete. Declaration of preparer olher lhan the personal representative is based on all information of which preparer has any knoWledge.
SIG R RSOt:ll RESPONSIBLE FOR Fill G ETURN DATE
CAMP HILL
PA 17011
DATE
RESENTATlVE
LEMOYNE
PLEASE USE ORIGINAL FORM ONLY
PA 17043
Side 1
L
15056041125
15056041125
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-.J
15056042126
REV-1500 EX
Decedent's Social Security Number
16538 114 4
~M~NMM: RICHARD H. HARRIS, JR.
RECAPITULATION
1. Real estate (Schedule A)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 1.
2. Stocks and Bonds (Schedule B)
.................................. 2.
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) ..... 3.
4. Mortgages & Notes Receivable (Schedule D)
........................ 4.
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) ....... 5.
6. Jointly Owned Property (Schedule F) 0 Separate Billing Requested . . . . . .. 6.
7. Inter-Vivos Transfers & Miscellaneous N.2DiProbate Property
(Schedule G) U Separate Billing Requested.. . . . .. 7.
29086379
9. Funeral Expenses & Administrative Costs (Schedule H)
................ 9.
29086379
1292940
8. Total Gross Assets (total Lines 1-7)
........................... 8.
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I)
. . . . .. . . . . . . 10.
11. Total Deductions (total Lines 9 & 10)
. . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
1292940
27793439
12. Net Value of Estate (Line 8 minus Line 11) . . . . . . . . . . . . . . . . . . . . . . . . . 12.
13. Charitable and Governmental BequestslSec9113 Trusts for which
an election to tax has not been made (Schedule J) . . . . . . . . . . . . . . . . . . 13.
14. Net Value Subject to Tax (Line 12 minus Line 13) . . . . . . . . . . . . . . . . . . 14. 2 7 7 9 3 4 3 9
TAX COMPUTATION - SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, or
transfers under Sec. 9116
(a)(1.2) X.O _ 0 0 0 15. 0 0 0
16. Amount of Line 14 taxable 2 7 7 9 3
at lineal rate X .04L 4 3 9 16. 1 2 5 0 7 0 5
17. Amount of Line 14 taxable 0 0 0
at sibling rate X .12 17. 0 0 0
18. Amount of Line 14 taxable 0 0 0
at collateral rate X. 15 18. 0 0 0
19. Tax Due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . 19. 1 2 5 0 7 0 5
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
o
Side 2
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15056042126
15056042126
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REV-1500 EX Page 3
Decedents Complete Address:
File Number
DECEDENT'S NAME
RICHARD H. HARRIS, JR.
STREET ADDRESS
837 BRIARWOOD LANE
CITY \ STATE I ZIP
CAMP HILL PA 17011
Tax Payments and Credits:
1. Tax Due (Page 2 Une 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1)
12,507.05
11,500.00
605.25
Total Credits (A + B + C) (2)
12.105.25
3. InterestJPenalty if applicable
D. Interest
E. Penalty
0.00
0.00
401.80
T otallnterestlPenalty ( D + E ) (3)
4. If Une 2 is greater than Une 1 + Une 3, enter the difference. This is the OVERPAYMENT.
Fill In oval on Page 2, Une 20 to request a refund. (4)
5. If Une 1 + Une 3 is greater than Une 2, enter the difference. This is the TAX DUE. (5)
8. Enter the total of Une S + SA. This is the BALANCE DUE.
(SA)
(S8)
A. Enter the interest on the tax due.
401.80
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred; ...................................................................... 0 00
b. retain the right to designate who shall use the property transferred or its income; ............................... 0 00
c. retain a reversionary interest; or ..................................................... ........................................... 0 00
d. receive the promise for life of either payments, benefits or care? ....................................................... 0 00
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? .............. .. ........................................................... ............ 0 00
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? ......... 0 00
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? .................................................................................................. 0 00
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse
is three (3) percent [72 P.S. ~9116 (a) (1.1) (i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent
[72 P.S. ~9116 (a) (1.1) (ii)). The statute does not exemDt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an
adoptive parent, or a stepparent of the child is zero (0) percent [72 P.S. ~9116(a)(1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedenfs lineal beneficiaries is four and one-half (4.S) percent, except as noted in
72 P.S. ~9116(1.2) [72 P.S. ~9116(a)(1)).
The tax rate imposed on the net value of transfers to or for the use of the decedenfs siblings is twelve (12) percent [72 P.S. ~9116(a)(1.3)). A sibling is defined, under
Section 9102, as an individual who has at least one parent in common with the decedent, whether by blood or adoption.
REV-1509 EX + (6-98)
'*
COMMONWEAlTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE F
JOINTLY-OWNED PROPERTY
ESTATE OF
RICHARD H. HARRIS, JR.
If an asset wal made joint within one year of the decedentl date of death, It mult be reported on Schedule G.
FILE NUMBER
SURVIVING JOINT TENANT(S) NAME
ADDRESS
RELATIONSHIP TO DECEDENT
A. MARY M. HARRIS
7165 CHAMBERS HILL ROAD
HARRISBURG, PA 17111
MOTHER
B PATRICIA M. HARRIS
837 BRIARWOOD LANE
CAMP HILL, PA 17011
SPOUSE
c
JOINTL Y.owNED PROPERTY:
LETTER DATE DESCRIPTION OF PROPERTY %OF DATE OF DEATH
ITEM FOR JOINT MADE INCLUDE NAME OF ANANCIAlINSTITUTlON AND BANK ACCOUNT NUMBER OR SIMILAR DATE OF DEATH DECO'S VALUE OF
NUMBER TENANT JOINT IDENTIFYING NUMBER ATTACH DEED FOR JOINTLY-HELD REAL ESTATE. VALUE OF ASSET INTEREST DECEDENrS INTERES
1. A. 6/27/83 PSECU Regular Share Account 7,791.68 50. 3,895.84
2. A. 6/1/04 Citizens Bank Checking Acct #6100681491 46,876.01 50. 23,438.01
3. A. 6/1/04 Citizens Bank Savings Acct #6140158656 32,723.78 50. 16,361.89
4. A. 11/12191 Sovereign Bank Acct #0351063625 43,069.55 50. 21,534.78
5. A. 11/12191 Sovereign Bank Acct #0354007833 226.72 50. 113.36
6. A. 10/27/0'/ Sovereign Bank Acct #1204761389 34,240.24 50. 17,120.12
7. A. 9/24/86 See Attached Listing of assets in 416,799.58 50. 208,399.79
Merrill Lynch Acct #872-34678
8. B. All other property was jointly held with surviving spouse
TOTAL (Also enter on line 6, Recapitulation) $ 290.863.79
T
(If more space Is needed. insert additional sheels of the same size)
ESTATE OF RICHARD H. HARRIS, JR.
ATTACHMENT TO SCHEDULE F, ITEM 7.
MERRILL LYNCH ACCOUNT #872-34678
Date of Decedent's Date of Death Value
Asset Descriotion Death Value Interest Decedent's Interest
550.161 sh Entergy Corp $ 38,192.18 50.00% $ 19,096.09
@ 69.42/share
100 sh Simon Property Group 8,167.50 50.00% 4,083.75
@ 81.675/share
1484.085 sh Am Balanced Fd 27,500.10 50.00% 13,750.05
@ 18.530/share
958.955 sh Am Cap Inc Bldr Fd 53,557.64 50.00% 26,778.82
@ 55.85/share
946.881 sh Am Cap World Grth 36,933.09 50.00% 18,466.54
& Inc @ 39.005/share
2166.393 sh Am Inc Fd America 41,118.14 50.00% 20,559.07
@ 18.98/share
953.254 sh Am New Perspective Fd 29,212.47 50.00% 14,606.24
@ 30.645/share
792.823 sh Am Washington Mu Fd 25,576.50 50.00% 12,788.25
@ 32.26/share
1400 sh Eaton Vance Insd P A Muni 20,972.00 50.00% 10,486.00
Bond Fd @ 14.98/share
1164.831 sh Eaton Vance Low 10,652.40 50.00% 5,326.20
Duration Fund @9.145/share
1559.075 sh Eaton Vance T-M 24,952.99 50.00% 12,476.50
Value Fd@16.005/share
960.71 sh Eaton Vance T-M 23,691.11 50.00% 11,845.55
Grth Fd @ 24.66/share
261.013 sh ML Global Allocation Fd 4,698.23 50.00% 2,349.12
@ 18.00/share
9.461 sh Muniyield Penn Insd Fd 145.70 50.00% 72.85
@ 15.40/share
2000.681 sh Van Kampen Comstock 36,822.53 50.00% 18,411.26
@ 18.405/share
800 sh Aegon NV Preferred Stock 20,316.00 50.00% 10,158.00
@ 25.395/share
200 sh ML Preferred Stock 5,277.00 50.00% 2,638.50
@ 26.385/share
Cash 9,014.00 50.00% 4.507.00
$ 208,399.79
REV-1511 EX + (12-99)
*'
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
RICHARD H. HARRIS. JR.
Debts of decedent must be reported on Schedule I.
FILE NUMBER
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. Neill Funeral Home 10,914.40
B. ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
Name of Personal Representative (s)
Social Security Numbe~s)JEIN Number of Personal Representative(s)
Street Address
City State Zip
Yea~s) Commission Paid:
2. AttomeyFees Radcliff Law Office, P.C. 2,000.00
3. Family Exemption: (If decedenfs address Is not the same as c1aimanfs, attach explanation)
Claimant
Street Address
City State Zip
Relationship of Claimant to Decedent
4. Proba~ Fees
5. Accountants Fees
6. Tax Return Prepare~s Fees
7. Filing fee - Inheritance Return 15.00
TOTAL (Also enter on line 9, Recapitulation) $ 12.929.40
(If more space Is needed. insert additional sheets of the same size)
~_1513EX:(*
COMMONVIIEAL TH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
RICHARD H HARRIS JR
SCHEDULE J
BENEFICIARIES
FILE NUMBER
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not Ust Trustee(s) OF ESTATE
I. TAXABLE DISTRIBUTIONS pnclude o~ht S~I distributions, and transfers under
See. 9116 (a (1. )]
1. MARY M. HARRIS Lineal 277,934.39
7165 CHAMBERS HILL ROAD
HARRISBURG, PA 17111
2. PATRICIA M. HARRIS Spousal
837 BRIARWOOD LANE
CAMP HILL, PA 17011
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAXIS NOT BEING MADE
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1.
TOTAL OF PART IT - ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $
(If more space is needed, insert additional sheets of the same size)
--
,
~
LAST WILL AND TESTAMENT
KNOW ALL MEN BY THESE PRESENTS, that I, RICHARD H. HARRIS,
JR., currently residing in Camp Hill, CUmberland County,
Pennsylvania, being in good health and of sound and disposing
memory, do hereby make, declare and publish this as my Last Will
and Testament, hereby revoking all former Wills and Codicils
heretofore made by me.
FIRST: I direct that all of my legally binding debts;
expenses of my last illness and funeral expenses shall be paid by
my Executrix hereinafter named~from my estate as soon after my
decease as shall be found convenient.
SECOND: I give and bequeath my automobiles, household and
personal effects and other tangible personal property of every kind
(not including cash, securities or trusts), together with any
existing insurance thereon, to my wife, PATRICIA M. HARRIS, if she
survives me by thirty days. Should my wife, PATRICIA M. HARRIS,
~ot be living on the thirty-first day after my death, I give and
bequeath my automobiles, household and personal effects and other
tangible personal property of every kind (not including cash,
securities or trusts), together with any existing insurance
thereon, in accordance with a letter to be kept with this Last Will
and Testament. To the extent that such letter fails to dispose of
all tangible personal property or if the letter is not in existence
at my death, then I give such undesignated personal property to my
sons, CHRISTOPHER HOLT HARRIS and MARK HOLT HARRIS, to be divided
among them as they may agree. In the event that no agreement is
reached, the same shall be divided as my Executor
shall determine or be sold by my Executor and added to the residue
of my estate.
THIRD: I .g!.ve, an.d.__hegye~t.))_~l]._~_._re~t.'h_..~~sidlle, anci remainder
of my estate, .whether real ,personal:'or.'Jn'ixedt~:;<ancfro~fany':nature
whatsoever and wherever si t\lat'ed'/untc>my 'wifei;,PATRI:CIA:M~; HA1mIS:j '.
. . . . , " .. ... f __.-.. :,----'-....-. -.. -,- "
provJ.dJ.ng she shall survJ. ve me by thJ.rty days. " . "
FOURTH: In the event that my wife, PATRICIA M. HARRIS, should
predecease me or die within thirty days of the date of my death,
then I give, devise and bequeath the rest, residue and remainder of
my estate, whether real, personal or mixed, and of any nature
whatsoever and wherever situate as follows:
1
A. ONE-HALF (1/2) thereof, to my son, MARK HOLT HARRIS. In
the event that my son, MARK HOLT HARRIS, should predecease me or
die within thirty days of the date of my death, I give this 1/2
share to his issue, per stirpes. In default of such issue, then
this share shall be added to the share for my son, CHRISTOPHER HOLT
HARRIS.
B. ONE-HALF (1/2) thereof to my son CHRISTOPHER HOLT HARRIS.
If my son CHRISTOPHER HOLT HARRIS is under the age of Twenty-two
(22) years, his share shall _be held by the Trustee hereinafter
named, IN TRUST, for the following uses and purposes:
1. The Trustee shall collect all assets of my estatej
including the proceeds from any insurance policies which maybe a
part of my estate or otherwise payable to the beneficiaries
hereunder, and shall create a separate trust for the benefit of my
son. The Trustee shall hold, manage, invest and reinvest the
property in such trust and collect the income therefrom until my
son has attained the age of twenty-two.
(a) While my son is under the age of twenty-one years,
my Trustee shall use for his benefit so much of the income of his
trust as my Trustee considers necessary or desirable, for the
welfare, support, education (including college, both undergraduate
and graduate) and maintenance of my son, taking into consideration
his other readily available assets and sources of income.
(b) Whenever my Trustee determines that the income of my
son from all sources known to the Trustee is not sufficient for his
reasonable support, maintenance and education, and that of his
immediate family, the Trustee may pay to him or use for his
benefit, so much of the principal of his trust as the Trustee
determines to be required for those purposes.
"'-.".' ;"',
(c) AftermY-Boii~att.ain:S;~t~er:ag~;:ct:went.Y-iOn~c~.Lthereafte;-
to pay to my son the net indome/t-ogetherwithsq ,much o~the
principal thereof as Trustee shall consider advisable for the
support and education (including college, both undergraduate and
graduate) of such child after taking into consideration his other
readily available assets and sources of income.
(d) When my son attains the age of twenty-two years, my
Trustee shall distribute to him the then remaining principal and
accumulated net income of his trust.
----&€lh~
2
(e) Upon the death of my son, CHRISTOPHER HOLT HARRIS,
the Trustee shall distribute his trust, as then constituted, to his
issue, per stirpes. In default of such issue then his share shall
be added to the share for my son, MARK HOLT HARRIS.
2 . The Trustee may make payments to or on behalf of any
person who is the beneficiary of any trust hereunder but in no
event, however, shall payments be made to any creditor or other
such person because of anticipation of payment by the beneficiary,
and any such claim made by way of anticipation by the beneficiary
shall be of no validity or legaleff.ect.
3. The Trustee, at its discretion, may exhaust all of the
principal and income in carrying out the purposes of this trust and
should the amount held in trust be or become so small as to
make it impractical or economically unfeasible to continue
holding said amount in trust, the Trustee may pay the total
amount of said trust'directly to the beneficiary or to a parent or
guardian of said beneficiary or place said amount in a savings
account for the benefit of said minor until said minor becomes of
age.
FIFTH: I hereby nominate, constitute, and appoint my wife,
PATRICIA M. HARRIS, as Executrix of this, my Last Will and Testa-
ment. In the event that my said wife shall predecease me, or be
unwilling or unable to act as my Executor, as aforesaid, then I .
nominate, constitute and appoint VINCENT GRENKEVICH, without
necessity for posting security regardless of state of residence, as
Executor of this, my Last Will and Testament. All references to
the Executrix herein shall be applicable to said substitute
Executor.
SIXTH: I hereby nominate, constitute and appoint MERRILL
LYNCH TRUST COMPANYOF~RlCA, as Trusteeof-. t:.he .-trust:.s- created by
this, my Last 'wiilcirid 'Testament~'-:WIthOut'fthe':;necesslty'forposting
security regardless of state'of.reside-n:ce\.
'\
SEVENTH: In the event that my wife, PATRICIA M. HARRIS, shall
predecease me, I hereby designate and appoint NICOLE SHUCK and
JAMES SHUCK, as guardians of the person or persons of any minor
child or children, for the duration of the minority of said child
or children, and said guardian may retain custody of said child or
children in any locality. It is my desire that said guardians
shall keep my children together as a family unit until such time as
my youngest child shall reach the age of eighteen years.
-=.~L{- 3
In the event that NICOLE SHUCK or JAMES SHUCK should
predecease me, then I appoint the survivor of them to act as
guardian for my minor child. In the event that neither NICOLE
SHUCK or JAMES SHUCK is willing or able to serve as guardian, then
I appoint MARISA GRENKEVICH to act as guardian for the minor child.
In the event that MARISA GRENKEVICH is unable or unwilling to serve
as guardian, then I appoint VINCENT GRENKEVICH and FRANCESCA
GRENKENVICH, or the survivor of them to act as guardian for the
minor child.
EIGHTH: My Executrix shall have, in addition to the powers
and authority conferred upon them by law, the following additional
powers and authority:
1. To sell at public or private sale, exchange, lease,
mortgage or pledge any property, real or personal, at any time
constituting a portion of my estate, and upon such terms and
conditions-as the Executrix shall deem wise.
2. To invest any money at any time in such bonds, stocks,
notes, real estate, mortgages, life insurance, annuities or other
securities, or such property, real or personal, as the Executrix
shall deem wise, without being limited by any statutes or rule of
law regarding investments by the Executrix.
3. To retain, without incurring any liability, as
investments, any property owned by me at the time of my death, as
long as they deem it wise, and even though such property is not the
kind of property an Executrix or Trustee would purchase as an
investment; and even though to retain such property might violate
sound diversification principles.
4. To cause any security or other property which may
constitute a portion of a trust or of my estate to be issued, held
or registered in thedrbwn -riama;or-in:~tlie --name~o,f:-a: nominee,. or in
such form that title will pass'by-del:ivery
5. To consent to the reorganization, consolidation,
readjustment of the financial structure, or sale of the assets of
any corporation or other organization, the securities of which
constitute a portion of my estate, and to take any action with
reference to such securities which, in the opinion of the Executrix
is necessary to obtain the benefit of any such reorganization,
consolidation, readjustment or sale; to exercise any conversion
privilege or subscription right gi ven to them as owner of any
securities constituting a portion of my estate resulting from any
reorganization, consolidation, readjustment, sale, conversion or
subscription.
---o::.~L~_ 4
6 . To pay all costs, taxes, . charges and expenses in
. connection with the administration of my estate, including such
compensations to Executrix which shall be in accordance with
established fees throughout the period of administration of my
estate.
7 . To determine what is "income" and what is "principal"
hereunder, and their decision thereon shall be final; and to
purchase securities at a premium or discount, and to apply or
charge said premium or discount. against income.orprin:cipal as the
Executrix may determine.
8. To transfer, sell, exchange, partition, lease, mortgage,
pledge, give options upon, or otherwise dispose of any property at
any time held by them, at public or private sale, or otherwise.
9. To borrow money from any person, firm or corporation,
including any corporation acting as an Executrix hereunder, for the
purpose of protecting and preserving or imprqving my estate
hereunder; to execute promissory notes or other obligations for
amounts so borrowed.
10. To employ legal counsel, accountants, brokers, investment
advisors, custodians, managers and other agents and employees and
to pay them reasonable compensation out of my estate or any funds
held hereunder to which said compensation is attributable.
11. To carry on any business owned or controlled by me at my
death for whatever period of time they shall think proper, and they
shall have the power to do any and all things they deem necessary
or appropriate, including the power to close out, liquidate or sell
the business at such time and upon such terms as to them shall deem
best.
12. To a6a.l1.other-"'7acl:~sC'-'in---tneir::-j:u:a:gmeneC'rfecessary or
desirable for the proper and '.advant'ageousmana9'ement~ investment
and distribution of my estate. -
NINTH:
(A)
POWERS OF THE TRUST COMPANY REGARDING
AFFILIATES
MERRILL LYNCH TRUST COMPANY OF AMERICA (hereinafter "Trust
Company") shall have the following specific powers as to trust
property and may exercise the same in its sole and absolute
discretion without Court order or approval:
-c~~..-{-
5
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(a) To engage any corporation, partnership or other entity
affiliated with the Trust Company (an "Affiliated Entity") to
render services to any trust hereunder, including without
limitation:
(i) To manage or advise on the investments of such
trust on a discretionary or nondiscretionary basis.
(ii) To act as a broker or dealer to execute
transactions, including the purchase of any
s e eu r i ties . C u rrentl ydist.r ibu.t ed,
underwri t ten, or issued by an,y~'Aff:i1iat.ed.
Entity, at standard commission rates, mark-ups
or concessions, and to provide other
management or investment services with respect
to such trust, including the custody of
assets.
(b) To invest in common trust funds maintained by the trust
Company and in mutual funds offered by an Affiliated Entity or to
which an Affiliated Entity may render services and from which an
Affiliated Entity receives compensation.
(c) To purchase through or from an Affiliated Entity, acting
as agent or issuer, any life insurance policy or annuity contract,
including, without limitation, any variable life insurance policy
or variable annuity contract, the assets under which may be
allocated by the Trust Company to one or more separate accounts
managed by an Affiliated Entity.
(d) To pay for any of the foregoing services from trust
property, without reduction for any compensation paid to the Trust
Company for its services as Trustee.
(e.)-To----re~.aTn----or-:=:sel-i~-the - i;rust .. proper~y, inqludin~ any
securities issued :-byMerr'iIT:LynCh-~:&:-:jCO~~;'7--1Inc~.;~-;ina.:1:o::,.;inveat; and
reinvest the same in al1foX11\s of pr9pertYiincll1;ding.j"r-wd.;thout
limitation, stocks, bonds, mutual funds, notes, securities, or
other property including securities issued by Merrill Lynch & Co.,
Inc.
(f) To cause or permit all or any part of any trust hereunder
to be held, maintained, or managed in any jurisdiction and to hold
any trust property in the name of its nominee or a nominee of any
Affiliated Entity.
~~~
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(g) To designate in writing an individual or a bank or trust
company to act as Special Trustee with respect to specific trust
property, including any securities issued by Merrill Lynch & Co.,
Inc., or any real property, including any real property owned or
operated by a sole proprietorship, general or limited partnership,
limited liability company, or closely held corporation, or any
interest in any such business enterprise, which is or may become an
asset of any trust hereunder.
The Special Trustee, shal:I. ho;ld title to 8uchpropertyand have all
the powers granted to ..the T+u84ee hereunQer,;,) ~le8s othe;wis~
limited in writing by the Trustee, 'to be exercised only with the
approval of the Trustee. The net income and the proceeds of sale
of all or any part of that specific trust property shall be
remitted to the ,Trustee. The Special Trustee may receive
reasonable, compensation for services rendered in such capacity, in
addition to the compensation to which the Trustee is entitled under
this Agreement.
(B) COMPENSATION OF THE TRUSTEE
The Trust Company, and any successor corporate Trustee, shall
receive payment for its services in accordance with its schedule of
rates in effect at the time such compensation becomes payable,
without reduction for any other fees or other compensation paid to
the Trust Company, or an Affiliated Entity, including, but not
limited to, such fees or other compensation paid by any mutual
fund, unit investment trust or other investment vehicle, or an
agent. Such compensation may be paid without Court approval.
(C) ACCEPTANCE OF CERTAIN TRUST PROPERTY AND INDEMNIFICATION
FOR ENVIRONMENTAL EXPENSES
The "T-ruS-t--~Company shall. not be deemed to have accepted title
to, and, shall not _~act,Q~E!-':cpbligat,ed-,,_to____act__in_-AIly___way as a
fiduciary with respect to, any real property, including any real
property owned or operated l),ya sole prop:r;:l.:etorship ,:getlera1 :cor
limited partnership, limited liability company, or closely";held
corporation, or any interest in any such business enterprise, which
is or may become an asset of the trust until (i) an appropriate
environmental audit is performed at the expense of the Trustmaker
or the trust to determine that conditions at such real property or
operations conducted by such business enterprise are in compliance
with state and federal environmental laws and regulations affecting
such real property or such business enterprise and (ii) the Trust
Company has accepted such property as an asset of the trust by a
separate writing delivered to the Trustmaker, if living, or, if
not, to the income beneficiary or beneficiaries of the trust (or
their ~atural ~ardianS)' and to the co-trustee, if any.
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In all events, the Trust Company may decline to accept't.itle to or
act in any way as a fiduciary as to any such property which it has
determined is or thereafter may be in violation of any such
environmental law or regulation. After its qualification, the
Trust Company shall have the right to reject any property proposed
to be transferred to the trust. The Trust Company shall be held
harmless from and shall be indemnified from the t'rust estate and by
the Trustmaker for any liability or expense, including reasonable
attorneys' fees, incurred as a result of any violation, actual or
alleged, of any environmental law or regulation with respect to any
property which the Trust Company--hasactua.lly. ror;.,;allegec:ily
accepted. . ,;, ~
The Trust Company is expressly authorized to take such
remedial action as it in its sole and absolute discretion deems
appropriate to prevent,'abate, remove or otherwise respond to any
actual, threatened, . or- alleged violation of, or otherwise comply
with, -anyenv-i;r;onmental law or regulation, or federal, state or
local agency or Court order, affecting any such property. The
Trust Company may employ agents, consultants or legal counsel to
assist or perform such action. All costs and expenses incurred by
the Trust Company in connection with such action shall be paid by
the trust or the Trustmaker. The Trust Company also may establish
reasonable reserves for the payment of anticipated environmental
expenses.
The Trust Company shall not be liable to the Trustmaker, any
beneficiary, or any other person for any loss or diminution in the
value of the trust resulting from any actual, threatened or alleged
violation of any such environmental law or regulation affecting any
such property or for the payment of any expense of remediation
thereof unless the Trust Company contributed thereto by its willful
miscqnduct Q:r:-_g!:9.E.I,~.!,-~g~.!g~nce.
(D)
The Trustee may, but~hall' not be required to, prepare'and
file accountings with any Court. Prior to delivering all of the
property of any trust hereunder'toa successor Trustee or to making
any partial or complete distribution of trust principal, the
Trustee may require an approval of its accounting either by a
release and discharge by the beneficiary or beneficiaries of any
such trust or by a Court of competent jurisdiction. All of the
Trustee's fees and expenses (including reasonable attorney's' fees)
attributable to any such accounting and approval shall be paid by
such trust.
8
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(E) RESIGNATION OF TRUSTEE'''" AND APPOINTMENT OF SUCCESSOR
TRUSTEE
The Trustee may resign as Trustee of any trust hereunder at
any time by written notice delivered to the adult income
beneficiary or beneficiaries of such trust or if there is no adult
income beneficiary, such notice shall be delivered to the natural
or legal guardians (other than the Trustmaker) of the income
beneficiary or beneficiaries of such trust. Such resignation shall
be effective upon the appointment of a successor Trust.ee. A
majority in interest of such beneficiaries or such natural or legal
guardians ,as the case ...may..J:>e ;.':shall:hav:e'/ethe;}po\f.$1;:~'~C> t..aPpoin1; .1. a.
successor Trustee, or in default of suchan appoi'nt.ment ,f'utlle
Trustee shall have the same power; provided, however, that in no
event may any beneficiary of such trust be appointed to act as
successor Trustee . All "of'" the Trustee's fees and expenses
(including reasonable, attorneys' fees) attributable to the
appointment of a successor Trustee shall be paid by such trus~. No
bond or other security shall be required of the Trustee or any
successor Trustee in any jurisdiction. Any successor Trustee shall
have the same powers, authorities and discretions as though
originally named as the Trustee.
(F) EARLY TERMINATION OF TRUST
The Trustee in its sole and absolute discretion may terminate
any trust hereunder at any time it determines that the aggregate
value of the trust property renders continued administration
economically infeasible and, upon such termination, shall pay over
the remaining trust ,property to the income beneficiary or,
proportionately, the income beneficiaries thereof (or to a parent
or legal guardian in the case of a minor beneficiary). Upon such
termination, the remainder interest in such trust shall be
extinguished--"and'the---Truste-e shal1- 'be"accountable with respect to
such trust only-,to such'-incQm~henefi-:c'iary-or'-neneficiari-eB'-' (or to
a parent or legal guardian t other than the Trust.maker , in the case
of minor beneficiary) . . .... '.d.
(G) JURISDICTION OF ADMINISTRATION
To minimize any tax in respect of any trust, or any
beneficiary thereof, or for such other purpose as it deems
appropriate, the Trustee may in its sole and absolute discretion
remove all or any part of the property of, or the situs of
administration of, such trust from one jurisdiction to another and
elect, by an instrument filed with the trust records,
that thereafter such trust shall be construed, regulated and
governed as to administration by the laws of such other
jurisdiction. ~ ~
-----K:.l?~ ~ 9
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H;' '.: OTHER peWERS "9F..,i,-iTHE-,TRUST..;.,~c:,.:. i.. "
The Trustee shall have all powers conferred upon it by law
and, without limitation, the following additional specific powers
as to the trust property and may exercise the same in its sole and
absolute discretion without Court order or approval:
(a)
purposes,
advisable.
(b) To vote directly o:r.'byproXY"" :anY"n.;secll~itf~~..",';"h~~4
thereunder for any purpose including shares of ahyfutitual funds
advised by any Affiliated Entity.
To borrow upon such terms and conditions and for such
and to give such security therefor, as it deems
(c) To make any division, distribution or partition of the
trust property in cash or kind, or partly in cash and partly in
kind, pro rata or non-pro rata.
(d) To employ, and to delegate any of its discretionary
powers to agents, attorneys, investment advisors, or accountants as
it deems necessary and proper and to pay for such services from the
trust property.
(e) In connection with any trust property to which any
person, other than my son, who is then under the age of twenty-one
(21) years becomes entitled (including any discretionary
distributions), (i) to pay over such property, without bond,
directly to such persons, such person's guardian or conservator,
the person with whom such person resides, or any custodian for such
person under the provisions of any Uniform Transfers or Gifts to
Minors Act; or (ii) to hold any portion or all of such property
which is not paid over as provided in the foregoing clause, though
vested insuch..nper-soIl7-......in._trust. fqr the following uses and
purposes: to hold and managenthe f.J.~m~.~.!!~.J~,<? payor apply so much,
including all, of the net income and princlpiil-to"c,-rfor such
person as the Trustee in its sole and absolute discretion shall
determine to be advisable (adding any net income not so paid or
applied to the principal annually), and the Trustee may but need
not consider any other income or resources of such person; and when
such person reaches the age of twenty-one (21) years, any property
then remaining in the hands of the Trustee shall be paid over to
such person, or upon such person's death before reaching the age of
twenty-one (21) years, to such person's personal representative.
The Trustee shall be completely discharged with respect to the
payment of any such property made pursuant to any of the above
provisions.
--&-~~~
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<,I ",'.,~~III.~.~~~?_48,t!l'~lt~::t'C~,..,.?,~..
TENTH: I dirt>Cl':tllat: all tl'"aIls1; el'"atld inheritance taxes
state or fedel'"al,' as sessed..be cause of my de'il tn, - wn,,;t:herthe-funds'
pl'"operty Ol'" insul'"aIlCepl'"oceeds to which such taxes al'"e at tl'"ibutabl~
pass undel'" this Will Ol'" not,shal~ be paid out of my
l'"esiduary estate; that my.EXecutl'"1~ pay, Ol'" pl'"ovide fol'" payment of
all such taxes at such t:lme, or t:lmes, and in such manner.as my
Executrix deems best.
-.-.....:~:'):;:~':~:
IN WITNESS WHEREOF, I, RICHARD H. HARRIS, JR., the Testator to
this, my Last Will aI,ld Te~t~ment, tYl?!lwril;ten on E!lev~f1 sheets of
papel'" which I have 1dent1hed a tt~e~"'1;Fo~!,,,,'~s:'W;,p'f>J',!l!Y
s~~~:.~' ,h~~~':f'.to set my hand ,!nC!~i.1(;t;lie2-'~' . ,', ~~,;
. . ..",-..:."~~,,,; .",,'
. ~ :~., -'....". ".:.'~"
~~~~
RICHARD H. HARRIS, .
(SEAL )
~'~ 11
The preceding instrument consisting of this and eleven
typewritten pages, each identified by the signature of the
Testator, RICHARD H. HARRIS, JR., was on thiS day and date thereof
signed, published and declared by RICHARD H. HARRIS, JR., the
Testator therein named, as and for his Last Will,in the presence Of
us who, at his request, in his presence, and in the presence of
each other have subscribed our names as witnesses.
( D. ~ "OR..- ~. ~. r:a
::~"8 is'
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF DAUPHIN
I, RICHARD H. HARRIS, JR., Testator whose name is signed to
the attached or foregoing instrument, having been duly qualified
according to law, do hereby acknowledge that I signed and executed
the instrument as my Last Will; that I signed it willingly; and
that I signed it as my free and voluntary act for the purposes
therein expressed.
~. ~,..~
....... 1
RICHARD .. H . BARRI S , .
sworn of affirmed to and aCknow~dged before m~ by ~ ICHARD H.
HARRIS, JR., the Testator the day of ~ , 1997.
,
(SEAL )
~~;/ C6.auJ4.,-
Not:ary public
Notarial Seal
Michael Cherewka. Notary Public
Susquehanna Twp.. Dauphin County
My Commission Expires Feb. 5. 2.001
Member. Pennsylvania Association of Notaries
~~A
12
. .
....~................ ~""'- .-...... "--- ~ ~ ~~
COUNTY OF DAUPHIN
We PIfU 'b /I. (lA)(!LlfF and ~h~v-~LR. RR-~ , the
witnesses whose names are signed to the attached or foregoing
instrument, being duly qualified according to law, do depose and
say that we were present and saw Testator sign and execute the
instrument as his Last Willi that he signed willingly and that he
executedi t as his free and vo.lulltaryClc:t for tb.e. PH~P!3_~_~:_t:.:h,:~rein
expressed ithateach ,.ofus in..tlle'.he~rin9:and-'sig~t-'9fnth~;.~T~St.~t;.c>:t'
signed the Wi 11 as witnesses.;:ahd(thi:ft/,totbe:peso....q~?;Op.~:.(~q~+'~~~~,t;}i.,(,-;
the Testator was at that t~me eJ.ghteenor more year$>of;~g-~~+;,,'Qf,.:,2!;;J;;;:}:
sound mind and under no constraint or undue influence. .. - - .-
~~::. .,;,"; ~:~'.,:~
~#~~
(~.~~
to
me by
, witnesses,
this
(SEAL)
~~a~.
Notary PUblic'" '.
. Notarial Seal
sl~~hahe'Cher~Wka. Notary Public
~ue ~nn~ Twp.. Dauoo/n County
My CommIssIon Expires Feb. 5, 2001
Member, Pennsylvania Association ofNotarles
~:~~~
13