HomeMy WebLinkAbout01-03-07
~
15056051047
REV-1500 EX (06-05)
PA Department of Revenue
Bureau of Individual Taxes
PO BOX 280601
Harrisbur ,- PA 17128-0601
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death
INHERITANCE TAX RETURN
RESIDENT DECEDENT
OFFICIAL USE ONLY
County Code Year
File Number
Date of Birth
Decedent's Last Name
Suffix
Decedent's First Name
MI
(If Applicable) Enter Surviving Spouse's Information Below
Souse's Last Name Suffix
MI
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
c:::> 1. Original Return
-
2. Supplemental Return
c:::>
3. Remainder Return (date of death
prior to 12-13-82)
5. Federal Estate Tax Return Required
c:::>
c:::> 4a. Future Interest Compromise (date of
death after 12-12-82)
c:::> 7. Decedent Maintained a Living Trust
(Attach Copy of Trust)
c:::> 10. Spousal Poverty Credit (date of death c:::> 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 TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
6. Decedent Died Testate
(Attach Copy of Will)
9. Litigation Proceeds Received
()
8. Total Number of Safe Deposit Boxes
4. Limited Estate
c:::>
-
c:::>
ZIP Code
REGISTER OF WILLS US6..9NLY
o C":)
- =
L.;; 0 -.I
'.-'0 L.
-]~~ ~
.-::D W
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First line of address
Second line of address
C)
11
-0
:x
State
FILED
N
/
tI
Correspondent's e-mail address: bellmercsGi> epix. net
Under penalties of pe~ury, I declare that I have examined this retum, including accompanying schedules and statements, and to the best of my knowledge and belief,
it is true, correct and complete. Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge.
DATE
/<.-:t
17055
DATE
I
Side 1
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15056051047
15056051047
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15056052048
REV-1500 EX
Decedent's Name:
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) c:::> Separate Billing Requested . . . . . .. 6.
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property
(Schedule G) c:::> Separate Billing Requested.. . . . . .. 7.
8. Total Gross Assets (total Lines 1-7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 8.
9. Funeral Expenses & Administrative Costs (Schedule H). . . . . . . . . . . . . . . . . . . .. 9.
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I). . . . . . . . . . . . . . . . 10.
11. Total Deductions (total Lines 9 & 10). . . . . . .. . . .. . .. . . .. . . .. . . . . . . .. . . . . 11.
12. Net Value of Estate (Line 8 minus Line 11) . .. . . . . . . . .. .. . . . . .. . . . . . . . . .. 12.
13. Charitable and Governmental Bequests/See 9113 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.
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 .0L
16. Amount of Line 141a~able
at lineal rate X.O ~
17. Amount of Line 14 taxable
at sibling rate X .12
18. Amount of Line 14 taxable-
at collateral rate X .15
()
00
19. TAX DUE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . . . . . . . '.' . . . . . 19.
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
Side 2
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15056052048
Decedent's Social Security Number
15.
16.
17.
18.
c:::>
15056052048
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REV-1500 E'S Page 3
File Number
r:2, I - 05"- fD 00
Decedent's Complete Address:
DECEDENT'S NAME
!<.A-l.{JH s. B4-/t..EY
-- --------- ---.--------------- --------------
STREET ADDRESS
'fSo 1:.
L.IS 13 t( ,fit! /t/J..
--
CITY
/J1€~IIAI/ICS~uHG-
u________ ------TSTATE-
~A
. ZIP
170SS-
Tax Payments and Credits:
1. Tax Due (Page 2 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
(1 )
'I
1.80
o
o
()
Total Credits (A + B + C )
(2)
()
3. Interest/Penalty if applicable
D. Interest
E. Penalty
. (.0
o
(3) . '0
(4) {)
(5) tjr3 . &f ()
(5A) 0
(5B) ~, C/O
Total Interest/Penalty ( D + E )
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Fill in oval on Page 2, Line 20 to request a refund.
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE.
A. Enter the interest on the tax due.
B. Enter the total of Line 5 + 5A. This is the BALANCE DUE.
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did dece~ent make a transfer and: Yes No
a. retain the use or income of the property transferred;.......................................................................................... 0 ~
b. retain the right to designate who shall use the properly transferred or its income; ............................................ 0 [ZI
c. retain a reversionary interest; or.......................................................................................................................... 0 IKI
d. receive the promise for life of either payments, benefits or care? ...................................................................... 0 [L!I
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? .............................................................................................................. 0 ~
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? .............. 0 ~
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? ........................................................................................................................ 0 [jI
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. 99116 (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. 99116 (a) (1.1) (ii)]. The statute does not exempt 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. 99116(a)(1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is four and one-half (4.5) percent, except as noted in
72 P.S. 99116(1.2) [72 P.S. 99116(a)(1)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve (12) percent [72 P.S. 99116(a)(1.3)]. Asibling 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-1,5~2 EX+ (6-9:W
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE A
REAL ESTATE
ESTATE OF
13A-IL lEY,
!?II-tPfI S.
FILE NUMBER
2/ - os -hOD
All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be
exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts.
Real property which is jointly-owned with right of ~urvivorship must be disclosed on Schedule F.
ITEM
NUMBER
DESCRIPTION
VALUE AT DATE
OF DEATH
1. A tlu' _ rJ i sc.olle:f"t.a re.tJ e..stOl.Te s Ll(Jplt.t11U1t~ -h>> ~
t1lre..cuty discloS"ed Dn ~ f2ev- } $1)0 d~ 4II1d
St.t.bm; ttea (WI oct. "2..'1. l.oo$' !
Un d; ",'de.d Dl'1t.- ha.l f. (y~) ; ntere st a.~ Go ~na-l1t
ill Common w;tf, Gurqe s. "J)O,NiS in ~ c.e..rt4In
pa.ru-I Df /Mtd ., t\ Lamar u,wn.shif', ,C.I:ntb" eo",nt!1J
A-nna. as is ll1.D~ -tully desc..r;be.J 111. tItJ ce,...tain
deed d cd-ed A- "1u~t J 3.1 I 'f " by wh,'d. MlLr'1 H.
Kreidler tAM.d Charle.$ Xf"e.idler, l1e..r husband)
~.f(.lnh~d fM\d Conve,~eJ -In Ceorrre. S. 1)tM/i S G*ld .
7((1./,h s. S(J...;)~J whic.h Stud d4te4 j~ reC-f>f'de.J 1M
-J.a,.. Otf,'u, bf fL,. ~eC,f}rcle..r /)f beecls in a.nd &r
Clifli-bVl ChLlnl"!1,fenna. in Oee.ol ~Dk ~B.3J p~
~(Ptf.
LQ.M~ 'T,;wn~h;p ~ CDl\e.e..h'Dh S;I\,'rJ1 ~hDw;f!j
VtJ...IlJ..A.,h \O~ of."~ 30. ()D icS 4 It a.c./' ed he.reto.
oYle-half fyzJ value &~J. "IS ., IS. DO.f ~
= 3a9. is'
ThuJ Cu..t'rffJt mttlf,'p/.'er lIJOS x3.,3Q
~
33' ~ es-
TOTAL (Also enter on line 1, Recapitulation) $ ~1J r, 8'S'
(If more space is needed, insert additional sheets of the same size)
0
(J\ ><
\0 I'< ..:I
(J\ 0 ~
0
0 ..:I CIlE-< M
0 <<I: sJ ><"'E-< M
Qi <<I: ",.", M
0 E-< 5l<<l:'" M
fit 0><<<1: I
\0
:fit~ :E1Il >< N
lIlt"-
<<I: E-<PO: I
I C!l:> CIl 0 l""'IO
'" po: il:.po: ~ f"'l..l:'
t"- o fit :E.....'"
0 ~1~ "'0
0 ~ (J\ .....
I
M CIl "'u I po: riI
<Xl ..:I 0 H ~~
N ..:I I ~ ..... :3: E-< :E
... H '" ..... fit (J) '" I'<:I:
n :E 0 Q '" Z ..... t"- <<1:'"
~ (j a; w iJi
<Il ~ "' X w 0 a;
;!i w ,j5 ~ u: ::>
u. 0
il: 0 0 :I:
REV-1511 EX+ (12-99) .
. _~..: ',1~ :.~ .
. ~
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
ESTATE OF
BA-r LeYt 1t!ft.Pf./ 5..
FILE NUMBER
21- oS - (,()O
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER
A.
DESCRIPTION
AMOUNT
FUNERAL EXPENSES:
1.
B. ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
Name of Personal Representative(s)
Social Security Number(s)/EIN Number of Personal Representative(s)
Street Address
City
State _ Zip
Year(s) Commission Paid:
2.
Attorney Fees C h a.r-le.s E. ~h,'eJc:ls 1ii
~
.In SO
3. Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City
State _ Zip
Relationship of Claimant to Decedent
4. Probate Fees
5. Accountant's Fees
6. Tax Return Preparer's Fees
7.
F; ". "j Fe.e. to r
SILppJementa..1 l"nhe.r; fr.tttCe ~ ~-f,."rn
"I S. ()f)
TOTAL (Also enter on line 9, Recapitulation) $ ~ f:!. 5"0
(If more space is needed, insert additional sheets of the same size)
REV-1513 EX' (1-97)
SCHEDULE J
BENEFICIARIES
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
FILE NUMBER
.;;.. I - 0 S - ftJ 00
AMOUNT OR SHARE
OF ESTATE
'B A I L E" Y,
RftLtJH S -
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY
I. TAXABLE DISTRIBUTIONS (include outright spousal distributions)
RELATIONSHIP TO DECEDENT
Do Not List Trustee(s)
1. C,4 f<()L k. $A-I U?f
SfOlL5e .
f.A.(Ider -h:.rms sf
~,' II s p~u.<;.J2. ;5 Q
I: -Fe teno.l1 t f) f a.
C red ,. +- she (+-u- totd-.
;;J. 8eety ea.: I~, 2D~1 Kru>l, H,'II J<cJ. Yo r/<. J d a u~hter- y~ Rct01a.,nder
{lA /7403
3. scott /<. ~a."J€tJ1 S Peaceful La-ne, West so n y~ Remaind~r
Chester, fJlf ,q 3~O
/.1 'J C /', /) meAL hcw.nffer \J~ f?efha.,'fJder
'f.. 111. ..17011 ~~tle~J 02-/1/ rPxnre r. J c;.n- a un /;
a.n;csl:)(47/,dA- / 7/)s-~
s: Pat~. I30WIJIPA / SSO E'. 1.,'.stNrn 11/ J d ~J.d"u' '/~ V(ern4.'nder
fJ7eel1allleSbur!J jJ/f /7()S~
6. TNHltrS IV. &/IevJ 7/9 Aifsbtlrth -Sf./ 5(!)J-'1 y&", Remc.,;nder
.5t!.Otlstl4/~1 ~,.f. 15"lnf3
ENTER OOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 17, AS APPROPRIATE, ON REV 1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1.
TOTAL OF PART II . ENTER TOT AL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV 1500 COVER SHEET $
(If more space is needed, insert additional sheets of the same size)
REV-15" EX. '12-re.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE K
LIFE ESTATE, ANNUITY
& TERM CERTAIN
Check Box 4 on REV-1500 Cover Sheet
ESTATE OF -r.l Y LJ L J..I S
olf-IL..E ; ~'rLP .
FILE NUMBER
.:L/- 0 s- ~ 00
This schedule is to be used for all single life, joint or successive life estate and term certain calculations. For dates of death prior to 5-1-89,
actuarial factors for single life calculations can be obtained from the Department of Revenue, Specialty Tax Unit.
Actuarial factors can be found in IRS Publication 1457, Actuarial Values, Alpha Volume for dates of death from 5-1-89 to 4-30-99,
and in Aleph Volume for dates of death from 5-1-99 and thereafter.
Indicate the type of instrument which created the future interest below and attach a copy to the tax return.
IS Will 0 Intervivos Deed of Trust 0 Other
LIFE ESTATE INTEREST CALCULATION
NAME(S) OF LIFE TENANT(S)
DATE OF BIRTH
NEAREST AGE AT
DATE OF DEATH
TERM OF YEARS
LIFE ESTATE IS PAYABLE
IZ/z.Z.jf'/ZS 7~ .s.fzlJa) ~Lifeor o Term of Years
o Life or 0 Term of Years
o Life or 0 Term of Years
o Life or 0 Term of Years
o Life or 0 Term of Years
1. Value of fund from which life estate is payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
2. Actuarial factor per appropriate table ........................... ~ . . . . . . . . . . . . . . . . . . . .
Interest table rate - 0 3 1/2% 06% 010% 0 Variable Rate 1./.8 )7flQ,/o
3. Value of life estate (Line 1 multiplied by Line 2) ......................................$
~97, 3S
,1),3' ()oS
~ .35. liS
ANNUITY INTEREST CALCULATION
NAME(S) OF LIFE ANNUITANT(S) DATE OF BIRTH NEAREST AGE AT TERM OF YEARS
DATE OF DEATH ANNUITY IS PAYABLE
0 Life or o Term of Years
-
0 Life or o Term of Years
-
0 Life or o Term of Years
-
0 Life or 0 Term of Years
-
1. Value of fund from which annuity is payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
2. Check appropriate block below and enter corresponding (number) .. . . . . . . . . . . . . . . . . . . . . . . . .
Frequency of payout - 0 Weekly (52) 0 Bi-weekly (26) 0 Monthly (12)
o Quarterly (4) 0 Semi-annually (2) 0 Annually (1) 0 Other ( )
3. Amount of payout per period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
4. Aggregate annual payment, Line 2 multiplied by Line 3 ...................................
5. Annuity Factor (see instructions)
Interest table rate - 0 3 1/2% 06% 0 10% 0 Variable Rate %
6. Adjustment Factor (see instructions) ..................................................
7. Value of annuity - If using 31/2%, 6%, 10%, or if variable rate and period
payout is at end of period, calculation is: Line 4 x Line 5 x Line 6 . . . . . . . . . . . . . . . . . . . . . . . . . .$
If using variable rate and period payout is at beginning of period, calculation is:
(Line 4 x Line 5 x Line 6) + Line 3 ..................................................$
NOTE: The values of the funds which create the above future interests must be reported as part of the estate assets on Schedules A through
G of this tax return. The resulting life or annuity interest(s) should be reported at the appropriate tax rate on Lines 13 and 15 through 18.
(If more space is needed, insert additional sheets of the same size)
h
~~
LAST WILL AND TESTAMENT OF RALPH S. BAILEY
I, RALPH S. BAILEY, of the Township of Upper Allen, Cumberland County,
Pennsylvania, being of sound and disposing mind, memory and understanding, do make, publish
and declare this to be my Last Will and Testament, hereby revoking and making void all fonner
Wills by me at any time heretofore made.
FIRST
The expenses of my last illness and funeral shall be paid from my estate.
SECOND
I hereby give and bequeath, absolutely and in fee simple, to my spouse, CAROL K.
BAILEY, all my household furniture and furnishings, books, pictures, jewelry, silverware,
automobiles, wearing apparel and all other articles of household or personal use or adornment,
provided that if my spouse dies before the thirtieth (30th) day following the day of my death, this
gift shall lapse or be divested and I make said bequest to my is'sue, per stitpes, living at the time of
my death, to be divided among them as they shall agree. If they cannot agree for any reason, then
these items shall be sold at public auction, my issue being permitted to bid upon such items.
My Executor shall represent any minor child in any division of such property and shall
deliver to the person standing in the place of a parent to such minor, without bond, such portion of
the minor's share as my Executor, after considering the minor's wishes, deems appropriate and
shall sell the balance and pay the proceeds to my Trustees to be retained or distributed as
circumstances may dictate as provided for below.
THIRD
Should I so desire, I will make a series of specific bequests to specific individuals on a
plain piece of paper to be signed and dated by me and to be inserted with this, my Last Will and
Testament.
FOURTH
The gift to my spouse in this Item is intended to give my estate the marital deduction
effective under the Internal Revenue Code to reduce Federal estate tax. Any provisions in this Will
which conflict with or fail of this intention shall be so reconciled or amplified as to accomplish this
objective.
If my spouse, CAROL K. BAILEY, survives me, I direct that my Trustees, hereinafter
named, hold, IN TRUST, an amount free of all taxes equal to the maximum marital deduction
1
~4A1f3a~
_ ....____,.._.......u....._..._ ____ ,
. --~._.~-----.,..--..,.._.""-----
~'''-'::.-:-::"~ .:""-~..~_:_::,.,,~""".-="",._~. .~..__'_'oc.,'",=_-_7_"" =-<,=-"'" ~.=~_~~~~_ __~
allowable to my estate for Federal estate tax purposes, reduced by an amount, if any, needed to
increase my taxable estate to the largest amount that after allowing for the unified credit and any
other credits available to my estate, will result in no Federal estate tax, and pay the net income
therefrom not less frequently than quarterly to my spouse for life. My spouse shall have power to
appoint all or any part or parts of the principal of this Trust to herself or a class composed of the
issue of myself and my spouse. This power shall be exercised by her alone and in aH events by
specific reference thereto in her Will, or by delivery at any time or times during her lifetime of a
written direction to my Trustees who shall thereupon make payment as she directs.
My Trustee shall pay to her personal representatives from any unappointed principal the
difference between all taxes, interest and penalties which they must pay by reason of her death and
those which would be payable by them if such unappointed principal were not taxable in her estate
and shall add the balance of such unappointed principal to my residuary Trust.
AFfH
I give and devise the residue of my estate, real and personal, to my Trustee hereinafter
named, IN TRUST, as follows:
A. The net income therefrom shall be paid to my spouse, CAROL K. BAILEY, for
life.
B. My spouse shall have the power to appoint to herself up to the greater amount of
five percent (5%) or $5,000 annually from the principal of the residuary trust under
this I tern. This power of appointment shall be noncumulative and may be exercised
during my spouse's lifetime only by her giving the Trustee written direction other
than by her Will.
C. Upon the death of my spouse, or in the event my spouse predeceases me, my estate
shall be distributed as foHows: All the rest, residue and remainder of my estate,
real, personal and mixed, whatsoever and wheresoever situate, shall be liquidated
as need be, in the sole discretion of my trustee, and shall then be divided and
distributed in equal shares unto my children, per stirpes, as follows: Becky Bailey,
Scott Kennedy Bailey, Patricia Bailey Bowman, Judy Bailey, and Thomas William
Bailey, excepting, however, that I and my spouse have currently advanced fifty
thousand ($50,000) dollars to our daughter, Becky, which is to be considered a
mortgage against her house and which, in the event there is any balance of principal
and/or interest due and owing at the time of the death of both me and my spouse,
then such principal and/or interest shall be counted against the share to be eventually
distributed to our daughter or her issue, as the case may be. However, should the
balance of my estate be depleted before said distribution to an amount which would
2
R~Q~
..
result in a said equal share being less than any balance of principal and/or interest
then due and owing, then in such case my said daughter, Becky, shall not be
required to repay such amount to my estate for the purpose of equalizing the shares
to be distributed, rather, such amount shall be considered forgiven.
SIXTH
Trustee may use principal of the trust under Item FOURTH hereof (Marital Deduction
Trust) only for the benefit of my spouse. With the foregoing exception my Trustee may use
principal from the trust under Item FIFfH hereof (Residue Trust) for the benefit of my spouse as
that Trustee deems necessary:
A. To meet the expense of any accident, illness or other emergency befalling her~
B. For maintenance, and support
C. To pay funeral expenses, including the cost of a grave marker and perpetual care of
the grave.
Notwithstanding the foregoing, the power to consume, invade or appropriate property for
the benefit of my spouse and issue shall be limited by ascertainable standard relating to health,
education, support or maintenance within the meaning of subparagraph (a) of Section 2041(b)(l)
of the Internal Revenue Code of 1954 or any similar provision which may be in effect at the time of
my death so that such power will not constitute a general powerof appointment.
SEVENTH
I hereby nominate, constitute and appoint my hereinafter named Trustee, Guardian of any
property which passes otherwise than under this will to a minor and with respect to which I am
authorized to appoint a Guardian and have othetwise not specifically done so. Such Guardian shall
have the power to use principal as well as income from time to time for the minor's education,
support and welfare, or to make payment for these purposes without further responsibility to the
minor or to any person taking care of the minor.
EIGIITH
No provision of this Will is intended to exercise any power of appointment, including any
power of appointment granted to me by my spouse's estate planning or other documents.
NINTH
All taxes, interest and penalties thereon payable by rcason of my death with respect to
property comprising my gross estate, whether or not passing under this Will, shall be paid from
the principal of my residuary estate under Item FIFfH provided however, that funds of my Trust
created herein may be used to pay taxes, interest and penalties attributed to such trust assets.
TENTH
No interest of any beneficiary under this Will or any codicil hereto shall be subject to
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anticipation or voluntary or involuntary alienation, and the personal receipt of such beneficiary
shall be the sufficient and only discharge of my Executor and Trustee unless otherwise provided
herein.
EIEVENTH
In addition to powers given them by law, my Executor and Trustee and their successors
and any guardian acting hereunder shall have the following discretionary powers applicable to all
real and personal property held by them, effective without court order and until actual
distribution: (except as more particulary stated and provided in Item AFfH above):
A. To retain all property received by them including the stock of any corporate
fiduciary acting hereunder, provided such property remains productive;
B. To invest in all forms of property without restriction to investments authorized to
fiduciaries, so long as such investments are productive;
C. To join in any incorporation, partnership, recapitalization, merger, reorganization or
voting trust plan; to delegate authority with respect thereto; to deposit investments
under agreements and pay assessments; and generally to exercise all rights of
investors;
1. To compromise controversies;
2. To exchange or sell for cash, property or credit, publicly or privately, or to
lease, even for a term exceeding five (5) years or the duration of the trusts
hereunder, without liability on the purchasers or lessees to see to application
of the consideration, and to give options for these purposes without
obligation to repudiate them in favor of a higher offer;
3. With respect to my residuary trust under Item AFfH hereof, to allocate
items of receipt or disbursement between income and principal as they deem
equitable regardless of the character given such items by law;
4. To apply income or principal to which any beneficiary is entitled directly for
his or her maintenance and support should they deem such beneficiary
incapable of receiving the same by reason of age, illness or any infirmity or
incapacity, or to pay the same to such person as they select to disburse it,
whose receipt shall be a complete acquittance therefor, without the
intervention of any guardian;
5. To borrow money, including the right to borrow from any corporate
fiduciary acting hereunder, and mortgage or pledge as security;
6. To hold investments in the name of a nominee;
7. To distribute in cash or kind or partly in each at valuations fixed by them;
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8. To assume continuance of the status of any beneficiary with reference to
maniage, di vorce, illness, incapacity or other change in the absence of
information deemed
9. To elect to value my gross estate for Federal estate tax purposes as of the
date of my death or as of the alternate valuation date as allowed for such
purposes, and to claim as income tax deductions expenses that would
otheIWise qualify as estate tax deduction and other elections allowable under
law;
10. Except to the extent necessary in order that the trust under Item FOURTH
hereof qualify for the marital deduction allowable under the Internal
Revenue Code, it shall not be necessary to segregate investments as
belonging to a particular trust or share therein and all interests may be held
in undivided form in a single fund from which proportionate distributions
are made based on current reappraisals;
11. To merge any similar trust established by my spouse where the terms of the
same are identical;
12. To make income or principal distributions during the course of
administration of my estate or trust created hereunder;
13. In the event that I am the beneficiary of a qualified terminal interest trust and
the same is taxable in my estate, I direct that my Executor shall seek
reimbursement from said trust for all taxes due by my estate because of the
inclusion of such trust in my estate, said computation of taxes due to be
computed by taking taxes owed by my estate and such property included
therein as compared to the taxes my estate would owe in the event said
property were not taxable in my estate; and
14. To undertake any and all acts deemed necessary and proper by it for the
proper and advantageous management of any trust and the settlement of my
estate.
TWELFrH
In the event that for any reason whatsoever, any of my named beneficiaries should become
a successor fiduciary, then No fiduciary who is a beneficiary of my residuary trust created in Item
AFrH hereof shall participate in the exercise of any discretionary power to use the principal
thereof for the benefit of any person or to apportion or allocate items of charge or credit between
principal and income of such trust. Additionally, no fiduciary named herein shall participate in
any discretionary decision to invade or use the principal of any trust hereby created for his/her
5
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benefifor for the benefit of his/her issue and in addition no fiduciary named hereunder shall enter
into any reciprocal arrangement with any other fiduciary to make such discretionary distributions.
No fiduciary named herein shall have any power with regard to the administration of a trust created
hereunder if such power would cause the trust to be includible in his or her estate for federal estate
tax purposes.
THIRTEENTH
Any person, other than my spouse, who shall have died within thirty (30) days of my
death, shall be deemed to have predeceased me. If my spouSe and I die simultaneously, or under
such circumstances that the order of our deaths cannot be established by proof, my spouse shall be
deemed to have survived me. Any person (other than myself) who shall have died at the same time
as any then recipient of income or in a common disaster with such beneficiary, or under such
circumstances that it is difficult Of impossible to determine who died first, shall be deemed to have
predeceased me.
FOURTEENTH
I nominate, constitute and appoint my spouse, CAROL K BAILEY and my son Scott
Kennedy Bailey and my daughter, Becky Bailey and Farmer's Trust Company, also known as
Keystone Financial, as co-executors and co-trustees under this my will. However, in the event
that for any reason any of the above-named co-executors or co-trustees are unable or unwilling to
act in such capacity, then I nominate, constitute and appoint my daughter, Patricia Bailey Bowman
as first alternate and my ,daughter, Judy, Bailey as second alternate. Such authority to act as an
alternate shall extend to permanent successor status as well as ad hoc status in the event of a
conflict of interest regarding decisions on distribution and the like as mentioned above. No
fiduciary acting hereunder shall be required to post bond or enter security in any jurisdiction.
AFfEENTH
My Corporate Fiduciary, if any shall be later appointed or shall otherwise become an
executor or trustee, shall receive compensation for the performance of its functions hereunder in
accordance with its Schedule of Fees in effect from time to time during the period over which its
services are performed.
SIXTEENTH
Trustees, if they so desire, shall be compensated in accordance with the compensation
schedules from time to time established by banking institutions in the Cumberland County,
Pennsylvania area. . No Trustee acting hereunder shall be compelled to post bond or enter security.
The Situs of the Trusts administered hereunder shall be considered to be in Cumberland County,
Pennsyl vania.
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IN WITNESS WHEREOF, I have hereunto set my hand and seal this I tJ ~ day of
~ . 1997, to this and the preceding . ~ (~) pages, and I
have also placed my initials on each preceding page for better identification and greater security.
U{JA~
RALPH S. BAILEY
(SEAL)
SIGNED, SEALED, PUBLISHED and DECLARED by the above-named Testator,
RALPH S. BAILEY, as and for his Last Will and Testament, in the presence of us, who at his
request, in his presence and in the presence of each other, have hereunto subscribed our names as
witnesses.
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May 18,1997
7
GEORGE M. HOUCK
(1912-1991 )
Register of Wills
Cumberland County Court House
1 Court Square
Carlisle, P A 17013
Dear Register of Wills:
CHARLES E. SHIELDS, III
ATTORNEY-AT-LAW
6 CLOUSER ROAD
Corner of Trindle and Clouser Roads
MECHANICSBURG, PA 17055
TELEPHONE (717) 766-0209
FAX (717) 795-7473
December 29,2006
Re: Estate of Ralph S. Bailey
No. 21-05-00600
Please find enclosed for filing 2 copies of the Supplemental Inheritance Tax Return for
the Ralph S. Bailey Estate as well as Check No. 1176 in the amount of $15.00 for the filing fee
and Check No. 1777 in the amount of $3.40 for Supplemental Inheritance Tax due. I am also
enclosing an additional copy to be date stamped.
Thank you for your kind attention to this matter.
CES/mjj
Enclosures
Very truly yours,
~F,P:P
Charles E. Shields, III
Attorney-At-Law
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COMMONWEA'_Ti-' OF PENNSYLVANIA
DEPARTMENT OF REVENUE
BUREAU OF INDIVIJUAL TAXES
DEPT 280601
HARRISBURG. PA 17128-0601
REV-1162 EX(11-96)
RECEIVED FROM:
PENNSYLVANIA
INHERITANCE AND ESTATE TAX
OFFICIAL RECEIPT
SHIELDS CHARLES EDWARD III ESQ
SIX CLOUSER ROAD
MECHANICSBURG, PA 17055
-------- fold
ESTATE INFORMATION: SSN: 170-16-1528
FILE NUMBER: 2105-0600
DECEDENT NAME: BAILEY RALPH S
DATE OF PAYMENT: 01/03/2007
POSTMARK DATE: 01/03/2007
COUNTY: CUMBERLAND
DA TE OF DEATH: 12/29/2001
NO. CD 007634
ACN
ASSESSMENT
CONTROL
NUMBER
AMOUNT
101 I $3.40
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TOTAL AMOUNT PAID:
$3.40
REMARKS:
CHECK#1777
SEAL
INITIALS: CJ
RECEIVED BY:
REGISTER OF WILLS
GLENDA FARNER STRASBAUGH
REGISTER OF WILLS