The URL can be used to link to this page

Home My WebLink About12-26-06 ESTATE OF SANDRA J. McHENRY FAMILY SETTLEMENT AGREEMENT " ~ THIS F AMIL Y SETTLEMENT AGREEMENT (the "Agreement") made this l.U-: day of December, 2006, by and among, Susan E. Hughes and Rebecca S. Baumbach, Administrators (collectively, the "Administrator") of the Estate of Sandra 1. McHenry (the "Estate"), and Susan E. Hughes, Rebecca S. Baumbach, and David Hoke, as beneficiaries of the said Estate (collectively, the "Beneficiaries"). The Administrator and Beneficiaries are sometimes referred to in this Agreement as the "Parties". In accordance with their desire that administration of the Estate be terminated without further expense and delay, the Parties, in consideration of the mutual covenants herein expressed, and intending to be legally bound hereby agree that: 1. The Estate of Sandra J. McHenry, who died November 9, 2005, is now in the process of administration, Letters of Administration having been duly granted to Susan E. Hughes and Rebecca S. Baumbach by the Register of Wills of Cumberland County, Pennsylvania on March 2, 2006. ;'"-"1 2. The Parties acknowledge that the Executor has received the A&s~ of th~.Esta~~, ?3 ~-_. . r -~'-t :- " : '.-., _. ) (the "Assets") and paid all claims against the Estate. '; . .~~ ,; ':-~~ G; i "d c=> -., , ,., 3. Since Sandra 1. McHenry died without a Last Will and Testament, the Estate is . ~_.; ..\ ,:\ distributed in accordance with S2103(2) of the Pennsylvania Probate, Estates, and Fidhciaries'.Code, the residuary assets of the Estate are to be distributed in equal shares to the Beneficiaries. r,,) 4. The Beneficiaries hereto agree that the remaining Assets have or shall be distributed according to S2103(2) of the Pennsylvania Probate, Estates, and Fiduciaries Code and shall be distributed as set forth on the Schedule of Proposed Distribution, a copy of which is attached hereto and made a part hereof as Exhibit "A". Without intending to limit the rights or remedies of the Beneficiaries, the Beneficiaries agree to indemnify the Administrator save them harmless from and ~ against all liability, loss, and expense (including, but not limited to, costs and counsel fees) which the Administrator may incur, as a result of making the distributions. 5. The Beneficiaries hereto agree to refund to the said Estate a pro rata share of any amount up to the amount of their respective distribution which may be necessary in the future to discharge any and all liabilities of the Estate heretofore undisclosed or unasserted that may arise and come to the attention of the Administrator. 6. The Beneficiaries, and each of them, hereby forever fully release, compromise, settle and discharge any and all claims, demands, actions or causes of action, legal or equitable, absolute or contingent, vested or hereafter to accrue, which any of them may have against the Administrator or against the Estate by reason of any matter, cause or thing growing out of or relating to any Assets, or growing out of or relating to any act of the Administrator in the administration of the Estate, and agree that any period for the limitation of actions for the collection of any erroneous distribution or distributions shall commence only at such time as the Administrator shall have obtained actual knowledge of such erroneous distribution or distributions and that in no event shall the period for collection of any erroneous distribution or distributions be less than two years after the actual discovery thereof by the Administrator. 7. The Beneficiaries agree to execute a Receipt and Release in order to confirm the distribution of the Residuary Assets in accordance with the terms and conditions of this Agreement. 8. Any release, which applies to the Administrator, shall apply also to any fiduciary who may have been or may be appointed in connection with any ancillary administration. 9. This Agreement may be executed in multiple counterparts and, when so executed, shall be binding upon the Parties, and their respective heirs, next of kin, personal representatives and aSSIgns. INTENDING TO BE LEGALLY BOUND, the Parties have hereunto set their hands and seals the day and year first above written. ,1 J~~-l'~~ Susan E. Hughes, Co- Administratrix of the Estate of Sandra J. McHenry Rebecca S. Baumbach, Co- Administratrix Ofxsan;a~enry Susan E. Hughes Rebecca S. Baumbach David Hoke INTENDING TO BE LEGALLY BOUND, the Parties have hereunto set their hands and seals the day and year first above written. Susan E. Hughes ~,~L V Rebecca S. Baumbach David Hoke INTENDING TO BE LEGALLY BOUND, the Parties have hereunto set their hands and seals the day and year first above written. Susan E. Hughes, Co-Administratrix of the Estate of Sandra J. McHenry Rebecca S. Baumbach, Co- Administratrix of the Estate of Sandra J. McHenry Susan E. Hughes Rebecca S. Baumbach /~ . " '2=~=~") ../ / \ ""~_'"'"""'~ i ,/ 1"'-__ .:::<----e-.-.~~y,~/.:.,,"l David Hoke SUMMARY OF ACCOUNT Estate of Sandra J. McHenry, Deceased For the period of November 9. 2005 throuqh October 31. 2006 PRINCIPAL Receipts: This Account Net Gain (or Loss) on Sales or Other Dispositions Less Disbursements: Debts of Decedent Funeral Expenses Administration Expenses Federal and State Taxes Commissions Fees Family Exemption Balance Before Distributions Transfer to (from) Principal Distributions to Beneficiaries Principal Balance on Hand For Information: Investments Made Changes in Investment Holdings INCOME Receipts This Account Net Gain (or Loss) on Sales or Other Dispositions Less Disbursements Balance Before Distributions Transfer to (from) Income Distributions to Beneficiaries Income Balance on Hand For Information: Investments Made Changes in Investment Holdings COMBINED BALANCE ON HAND Paqe 1 2 3 4 4 -10 10 83,257.78 1,630.00 18,968.70 128.55 0.00 0.00 0.00 11 45.36 0.00 45.36 0.00 45.36 0.00 0.00 45.36 Fiduciary Acquisition Value 125,588.81 -498.40 125,090.41 103,985.03 21,105.38 0.00 0.00 21,105.38 21,150.74 11/09/2005 11/09/2005 12/01/2005 11/09/2005 OS/22/2006 11/09/2005 03/13/2006 11/09/2005 11/09/2005 11/09/2005 11/09/2005 SCHEDULE A RECEIPTS OF PRINCIPAL Cash Citizens Bank Checking Account No. 6100784088 - valued per bank letter dated 3/29/06 Commonwealth of Pennsylvania - 2005 income tax refund Highmark Retirement Pension - (less reimbursement of $701.58) Miscellaenous refunds Reimbursement for county and school taxes sewer & trash service - per HUD1 US Treasury - income tax refund Westfield Group Insurance - refund of account Total Cash Personal Property 1991 Toyota Tercel - valued per sales price Miscellaneous personal property - valued per appraisal Total Personal Property Stocks I Listed 108.0000 shares Mellon Financial Corp - valued per public listing Total Stocks / Listed Real Estate Real estate located at 1124 laurel Avenue, lower Allen Township, Cumberland County, PA - valued per sales price Total Real Estate Fiduciary Acquisition Value 6.154.89 92.00 1.415.38 86.60 312.03 1.586.00 526.51 10.173.41 1.000.00 1.000.00 2.000.00 3.515.40 3.515.40 109.900.00 109.900.00 125.588.81 Total Receipts of Principal 1 SCHEDULE B GAINS AND LOSSES ON SALES OR OTHER DISPOSITIONS - PRINCIPAL Gain Loss 05/09/2006 1991 Toyota Tercel - valued per sales price Net Proceeds 1.000.00 Fiduciary Acquisition Value -1.000.00 0.00 OS/22/2006 Real estate located at 1124 Laurel Avenue, Lower Allen Township, Cumberland County, PA Net Proceeds 109.900.00 Fiduciary Acquisition Value -109.900.00 0.00 06/01/2006 108.0000 shares Mellon Financial Corp - valued per public listing Net Proceeds 3.927.00 Fiduciary Acquisition Value -3.515.40 411.60 08/01/2006 Miscellaneous personal property - amount received Net Proceeds 90.00 Fiduciary Acquisition Value -1.000.00 -910.00 TOTAL GAINS AND LOSSES/PRINCIPAL 411.60 LESS LOSS -910.00 NET GAIN OR LOSS -498.40 2 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Debts of Decedent Accounts Recovery Bureau. Inc. 07/01/2006 unreimbursed medical bill Capital One 07/15/2006 credit card Citizens Bank 2nd MortQaQe OS/22/2006 Citizens Bank MortaaQe No. 6050-654604 12/05/2005 01/06/2006 02/06/2006 03/06/2006 OS/22/2006 06/01/2006 Quest DiaQnostic 06/01/2006 unreimbursed medical bill Total Debts of Decedent Funeral Expenses 3 55.00 7.547.83 4.508.02 602.60 602.60 602.60 602.60 68.577 .00 74.72 84.81 55.00 7.547.83 4.508.02 71.062.12 84.81 83.257.78 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued Frank E. Matincheck & Dauahter Funeral Home 12/24/2005 funeral services 1.630.00 Total Funeral Expenses 1.630.00 1.630.00 Administration Expenses Annual assessments OS/22/2006 per agreement for seller's assistance (less 311.43 adjustment) 311.43 Bonnie Miller OS/22/2006 2006 county/township real estate taxes 336.86 336.86 CBC OS/22/2006 credit report per agreement for seller's 20.00 assistance 20.00 Citizens Bank OS/22/2006 overnight charge for mortgage payoff 25.00 25.00 Clav Huahes OS/22/2006 bathroom repairs 400.00 400.00 4 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued Closina service letter OS/22/2006 per agreement for seller's assistance 35.00 35.00 Countv property taxes OS/22/2006 per agreement for seller's assistance 112.28 112.28 Exit Platinum Plus OS/22/2006 real estate commission 3.322.00 OS/22/2006 deed preparation 85.30 OS/22/2006 transaction fee 195.00 3.602.30 First American Flood Services OS/22/2006 per agreement for seller's assistance 7.50 7.50 Global Home Warranty OS/22/2006 home warranty 360.00 360.00 Hazard Insurance OS/22/2006 per agreement for seller's assistance 68.25 68.25 Holiday Inn 03/19/2006 hotel expense for Susan Hughes to clean out 213.00 residence 213.00 5 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued Home Depot 03/18/2006 supplies for residence 71.71 71.71 Joe Hicks 11/26/2005 backdoor replacement & locks 680.00 680.00 Kreamer Brothers 11/16/2005 glass repair 96.51 96.51 LandAmerica OS/22/2006 tax service fee per agreement for seller's 77.00 assistance 77.00 Lower Allen Township 01/26/2006 sewer & trash service 85.50 OS/22/2006 sewer & trash service 94.05 179.55 Lowes 03/18/2006 supplies for residence 68.55 68.55 Mortaaae interest OS/22/2006 per agreement for seller's assistance 182.90 182.90 6 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued NCBI OS/22/2006 underwriting & processing per agreement for 375.00 seller's assistance 375.00 PA American Water Company 12/15/2005 water service for residence 5.00 01/04/2006 water service for residence 55.56 01/18/2006 water service for residence 26.87 03/28/2006 water service for residence 53.92 04/28/2006 water service for residence 27.47 OS/28/2006 water service for residence 48.41 217.23 Penn Pest OS/22/2006 pest inspection 583.00 583.00 PPL 12/15/2005 electric service for residence 41.41 03/28/2006 electric service for residence 51.29 04/28/2006 electric service for residence 13.79 OS/28/2006 electric service for residence 13.80 120.29 Rebecca A. Knox OS/22/2006 seller's assistance 951.11 951.11 Rebecca Baumbach 11/09/2005 reimbursement for mileage & tolls 663.02 7 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued 663.02 Recorder of Deeds, Cumberland Countv OS/22/2006 filing fee for deed per agreement for seller's assistance realty transfer tax per agreement for seller's assistance realty transfer tax filing fee for mortgage per agreement for seller's assistance 95.00 OS/22/2006 1,099.00 OS/22/2006 OS/22/2006 1,099.00 38.50 2.331.50 Reaister of Wills. Cumberland County 08/07/2006 filing fees for Return & Inventory 30.00 30.00 Reimbursement for countv and school taxes sewer & trash service OS/22/2006 seller's assistance 312.03 312.03 Reminiscence with Kathv 11/09/2005 appraisal fee for personal property 35.00 35.00 Rich Johnson 11/09/2005 trash removal 120.00 120.00 Robert Banzoff OS/22/2006 appraisal fee per agreement for seller's 375.00 assistance 8 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued 375.00 Straub & Associates OS/22/2006 real estate commission 2.722.50 OS/22/2006 transaction fee 295.00 3.017.50 Sudden Death Termite OS/22/2006 termite treatment per agreement for seller's 40.00 assistance 40.00 Susan Huahes 06/01/2006 reimbursement for telephone calls & utlity bills 307.55 07/01/2006 reimbursement 1.671.61 1.979.16 Suzanne Colacicco OS/22/2006 copies and tax certification 25.00 25.00 U-Haul 04/28/2006 rental of truck 465.01 465.01 UGI 12/15/2005 gas service for residence (less reimbursement 73.30 of $1.34) 01/04/2006 gas service for residence 156.69 03/31/2006 gas service for residence 16.34 05/31/2006 gas service for residence 108.95 9 Verizon 12/15/2005 Westfield Group Insurance 12/15/2005 Reaister of Wills. Aaent 08/07/2006 SCHEDULE C DISBURSEMENTS OF PRINCIPAL Continued telephone service for residence (less refund $2.60) homeowners insurance premium (less refund $212) Total Miscellaneous Administrative Expenses Federal and State Taxes Pennsylvania inheritance tax Total Taxes TOTAL DISBURSEMENTS OF PRINCIPAL 10 9.73 116.00 128.55 355.28 9.73 116.00 18.968.70 128.55 128.55 103.985.03 Mellon 01/27/2006 04/26/2006 dividend dividend SCHEDULE G RECEIPTS OF INCOME Dividend TOTAL DIVIDEND INCOME TOTAL RECEIPTS OF INCOME 11 21.60 23.76 45.36 45.36 45.36 ESTATE OF SANDRA J. McHENRY SCHEDULE OF PROPOSED DISTRIBUTION Remaining Estate Assets: Citizens Bank Estate Checking Account UGI refund Commonwealth of PA - 2005 income tax refund Estate Administration Costs: Pecht & Associates, PC - attorney fees (if we do not need to file and defend an accounting) James, Smith, Dietterick & Connelly, LLP - reimbursement for out-of- pocket expenses James, Smith, Dietterick & Connelly, LLP - attorney fees Register of Wills, Cumberland County - filing fee for Family Settlement Agreement PA Department of Revenue - 2005 fiduciary income tax Rebecca Baumbach, Co-Administratrix fee Susan Hughes, Co-Administratrix fee Residue: Residue to children; each child having a 1/3 interest in residue: Rebecca Baumbach - 1/3 of residue Susan Hughes - 1/3 of residue David Hoke - 1/3 of residue 21,057.40 1.34 92.00 21,150.74 2,500.00 626.43 6,160.00 20.00 1.00 4,500.00 4,500.00 -18,307.43 947.77 947.77 947.77 2,843.31 2,843.31 Wayne M. Pecht Member of California Bar CPAlLLM in Taxation Rob Bleecher Herbert P. Henderson, II Edward P. Seeber December 20,2006 PECHT & ASSOCIATES, PC Suite 200 1205 Manor Drive Mechanicsburg, PA 17055-4894 Glenda Farner Strasbaugh, Register of Wills Cumberland County Courthouse 1 Courthouse Square Carlisle, P A 17013 Re: Estate of Sandra J. McHenry, deceased File No. 2005-01090 Dear Ms. Farner Strasbaugh: Telephone: 717-766-9431 Fax: 717-766-3361 e-mail: cbaker@pechtlaw.com Enclosed are an original and one (1) copy each of the Family Settlement Agreement to be filed for the above- referenced Estate. Please time-stamp the extra copy and return it to me in the enclosed self-addressed, stamped envelope. If you have any questions, please feel free to contact me. Very truly yours, PECHT & ASSOCIATES, PC ~~j)z- Cfte~ L. Baker, CP Certified Paralegal Enclosures cc: Susan Hughes, Co-Administratrix Rebecca S. Baumbach, Co-Administratrix ,r.-.... '- -' c:?, . .~~1 J "" = c~:,..) 0"' C.::7 rr1 CJ r<) en -0 ;~~) -co -~_'"J ~ ( -) ,n --.-~!.. r-...) .r.-