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Home My WebLink About12-04-06 ---"'r~:- r,\ ! ',Jw ~o C) ~ (: 0 ~ :::I:1' c:-". :n ,....::0 r n :u ".., ........ fT") C) ~:r() rrr 09 i :::: )> r- C""') en -0 FAMILY SETTLEMENT AGREEMENT ~;;~~ 1:- 1::;3~ r'--: '" - Q 0 IN THE ESTATE OF LAREE C. FELIX. DECEASEQ32~ ~ (~~~ ~,..~ W c~ .....'::-' .. r- -.,. fTl AGREEMENT executed the day and year hereafter written by and betw;;n BENNiTT (j) ~~ H. FELIX, JR., Executor of the Estate of LAREE C. FELIX, deceased, and CAROL YN I. SHRINER, DIANE L. ADAMS, JULIE A. FELIX, ALLEN L. FELIX, AND BENNETT H. FELIX, JR., heirs and beneficiaries of the Estate of LAREE C. FELIX WHEREAS, LAREE C. FELIX, late of West Pennsboro Township, Cumberland County, Pennsylvania, died on February 25, 2006, having left a Last Will and Testament dated December 20, 2002; WHEREAS, on March 21, 2006, the Register of Wills in and for the County of Cumberland, Commonwealth of Pennsylvania, did constitute and appoint BENNETT H. FELIX, JR., as Executor of the Estate of LAREE C. FELIX in PA Estate Number 21-06-0250 and Cumberland County estate no. 2006-00250 upon the probating of the aforesaid Last Will and Testament, and WHEREAS, the Executor has proceeded with the administration of said Estate consisting of assets in the amount of$18,853.75, less disbursements of principal of$12,841.10, less in kind distributions totaling $1,125.00, leaving a principal balance on hand of $4,887.65, as set forth in the First and Final Account, a true and correct copy is attached hereto and made part hereof as Exhibit "A", and WHEREAS, the only party in interest in said Estate are the above-named parties, and WHEREAS, said parties in interest desire that the Executor shall not be required to file an Account with the Orphan's Court of Cumberland County, Pennsylvania, and that the net estate of the decedent shall be distributed without the necessity of filing a formal Account to avoid the expense, delay and publicity of a formal accounting, but should instead be distributed in accordance with the Executor's Proposed Schedule of Distribution, a true and correct copy of NOW THEREFORE, in consideration of the mutual promises, covenants and agreements recited herein, the above-named heirs and beneficiaries of the Estate of LAREE C. FELIX does hereby mutually agree as follows: 1. The parties hereto, and each of them, agree and acknowledge that they have fully and carefully examined the First and Final Account of BENNETT H. FELIX, JR., Executor for the Estate of LAREE C. FELIX, deceased, and Proposed Schedule of Distribution relating thereto, both of which are attached hereto, and find them to be true and correct, and acceptable to the parties hereto and each of them, and further that each of them has received a copy of this Family Settlement and Final Release and of said Account and Proposed Schedule of Distribution. 2. The parties hereto hereby agree that in order to avoid the expense, delay and publicity involved in the filing of a formal Account and Schedule of Distribution, no accounting to the Court is necessary and we do hereby agree that we do consent to distribution being made without the filing of an Account and Schedule of Distribution, the same to be with the same force and effect as if they had been filed and confirmed by the Orphan's Court Division of the Court of Common Pleas of Adams County, Pennsylvania. 3. The parties hereby remise, release, quitclaim and forever discharge the Estate of LAREE C. FELIX, and BENNET H. FELIX, JR., Executor, his heirs, executors, administrators and assigns, from all manner of acts, suits, claims, accountings, debts and demands whatsoever which we or any of us or our legal representatives or assigns may at any time hereafter have against said Executor, estate, or assets thereof, touching or concerning the Estate of the Decedent. 4. The parties hereto covenant and agree that they will contribute their share of the Estate to satisfy all claims, debts, demands, suits or cause of action which may be successfully brought against the Estate or the Executor after the execution of this Family Settlement and Final Release. 5. The parties hereto hereby agree that they will at all times in the future and wherever necessary, appropriate or convenient, made, execute and deliver to said Executor, and/or to the other party or persons, any and all instruments, documents, conveyances, deeds, releases or other instruments of any kind necessary or convenient to carry out the intention of this Family Settlement and Final Release. 6. This Family Settlement and Final Release constitutes the entire understanding among the parties hereto, and each of them acknowledges that no representations or statements of any kind, written or oral, have been made to them or any of them prior hereto by the Executor or any other person or party upon his behalf. 7. This Family Settlement and Final Release shall inure to the benefit and shall bind the parties hereto, and each of them, their heirs, executors, administrators, successors and assigns. 8. This Family Settlement and Final Release shall be governed by the laws of the Commonwealth of Pennsylvania. IN WITNESS WHEREOF, the parties hereto have hereunto set their respective hands and seals the day and year first above written. , b J I" hI,. ~ ~(p Date 10'- 5 -O~ Date ~ Date rq '2f2~ Date cf'~S'Oh Date ,~~ fji BENNETT H. 'LIX, JR., Executor ~~ BENNETT H. FE , JR., Individually as heir and beneficiary ~~ ALLEN L. FELIX ~ tl r;~ 'LIE A. FELIX ~J;~ DIANE L. ADAMS FIRST AND FINAL ACCOUNT OF BENNETT H. FELIX.. JR... EXECUTOR OF THE ESTATE OF LAREE C. FELIX.. Deceased Date of Death: February 25,2006 Date of Executors' Appointment March 21, 2006 Accounting for the Period of March 21, 2006 to September , 2006 Purpose of Account: BENNETT H FELIX, JR., Executor of the Estate of LAREE C. FELIX, offers this Account to acquaint interested parties with the transactions that have occurred during their administration of the Estate for the accounting period indicated above. The Account also indicates the proposed distribution of the Estate. It is important that the Account be carefully examined. Request for additional information or questions or objections can be discussed with: Bradley L. Griffie, Esquire GRIFFIE & ASSOCIATES 200 North Hanover Street Carlisle, PA 17013 (717) 243-5551 (800) 347-5552 EXHIBIT "A" SUMMARY OF ACCOUNT Principal- Total Assets $ 18,853.75 Less Disbursements of Principal (-) 12,841.10 Prior Distribution to Beneficiaries (-) .00 Less in Kind Distributions (-) 1,125.00 TOTAL Cash Available for Distribution $ 4,887.65 RECEIPTS OF PRINCIPAL REAL ESTATE NONE CASH and BANK ACCOUNTS M&T Bank Checking Account #374013418............................$10,494.03 M&T Bank Savings Account #015004204128935....................$2,197.49 Adams County National Park Certificate of Deposit #160315...............................$3,901.32 1992 Buick Sedan ........ .................. ...................... .......$1,125.00 Erie Insurance Car Insurance Refund ..............................$89.00 2005 Personal Income Tax Refund................................$745.00 Wachovia Visa Credit Balance Refund .............................$9.97 Presbyterian Homes Refund .......................................... $291.94 TOTAL ASSETS ACCOUNTED FOR: $18,853.75 DISBURSEMENTS OF PRINCIPAL DEBTS OF DECEDENT Continuing Care RX................................................$ 24.00 Presbyterian Homes, Inc. (Nursing Care) ..............................$ 3,721.36 SUBTOTAL: FUNERAL EXPENSES $ 3,745.36 Egger Funeral Home..............................................................$ 5,583.13 Carlisle Memorial Service ........ .............................. ...............$ 384.20 SUBTOTAL: ADMINISTRATION EXPENSES $ 5,967.33 Attorneys fees to GRIFFIE & ASSOCIATES .......................$ 2,283.50 Probate Fees..... ..................... .............. ................ ...................$ 155.00 Account Fees........... ............ .................. ...............................$ 168.00 Advertising - The Sentinel..................................................$ 129.77 Advertising - Cumberland Law Joumal................................$ 75.00 SUBTOTAL: PENNSYLVANIA INHERITANCE TAX $ 2,811.27 Tax paid....................................................................................$ 317.14 Total net due $ 317.14 TOTAL $ 12,841.10 PRIOR DISTRIBUTIONS TO BENEFICIARIES NONE IN KIND DISTRIBUTIONS 1992 Buick Sedan valued transferred to Carolyn I. Shriner $1,125.00 Total $1,125.00 INTEREST AND DIVIDENDS Post Date-or-Death Interest Earned NONE Interest Earned on Estate Account NONE PROPOSED SCHEDULE OF DISTRIBUTION Assets for Distribution Cash on Hand.. ........................................................... ........ .....$4,887.65 TOTAL: $ 4,887.65 In kind distribution plus cash on hand totals $6,012.65. Five equal distributions require $1,202.53 to each beneficiary. In kind distribution of $1,125.00 creates lower cash distribution to remaining beneficiaries. Net Cash on Hand Distributed as Follows: Bennett H. Felix, Jr. ...........................................................$ Allen L. Felix .....................................................................$ Julie A. Felix......................................................................$ Diane L Adams ........ ......... ........................................ .........$ Carolyn I. Shriner...... .............. .... ..... ......... ..... ............ ........$ 1,221.92 1,221.92 1,221.92 1,221.92 1,221.92 TOTAL CASH DISBURSEMENT: $ 4,887.65 EXHIBIT "B"