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HomeMy WebLinkAbout1250_GUTTMAN_LEO_112_540_10-23-1971_10-29-1971l\pplirattun fur 'rubatr uf IItll uf.~.~.~.P.~.~~.~.~9:~~~~~~~!~!~~~?P..Lg~:t:t~.an ......................................................late of ~P.~~~~~?~?~~~,Washington County, Pennsylvania deceased,and ~l'ant lIf iGl'ttl'r.6 Wl'.6taUll'ntary. REGISTER'S OFFICE,l 'WASHINGTON COUNTY,f SS.: Before the Register of Wills of WashingtonHowardS.Guttman and Donald L.Dawson,Trust Officer County,personally appeared ?~T~~..Y~~?~~.~~~?~~.~~~~?~~~~~~P.~E~~who being duly sworn says that...~~~...P.?!!:~~~..g~~~~g §!~/~~.~g p..!Q~~~~!!:late resident of 165 Arlington Avenue ..............e.P.§l.~.£p.~?E~~g~,Washington County,Pennsylvania,a citizen of ~P.-.~.Y.~~.~~~e.~~t.~.p.died testate at.....gb.~.:r1.~.£9J.:::~9n~.p..~.~.~~9.p..P.~~~;\.;on the..??E~day of....9.q.:t;.g}?~E A.D.19.7.1 . at.JJ.tQ.$.o'clock @.m.,age ..5..$.leaving an estate of the estimated value of $.vD.Jsg.qxm .. personality,and $v.~J!g.WP realty,said real estate being located in .. The decedent's legatees and devisees are as follows: NAME RELATIONSHIP RESIDENCE Howard S.Guttman and fl.The Union National Bank of Pgh.,Trustees Pittsburgh ••_..J_~4-';ol "T""nnd Th2'AA of'.:the Wi 1]~-- Testator has !!:?~married and no h'ld·..· · ·..···..·..·..· ·..··..· c 1 ren have been born since th execution of the will offered for probate.e Petitioner prays that the paper writing filed herewith dated ~~.::.~mber 1,1967............................................................................... may be admitted to probate as the last Will and Testament of said deced t d t Len,an 0 grant etters Testamen- tary thereon to..)~.C?~.~.:rg 9..~g:g:J1.t!R:~n ~~~*.1?:§l V.~~gE ~.~.~.~.~.~~~~~~~.f.~~~~~E~~?.. whose postoflice addreSS.is..!o.2.Q...~.:i.'!!!.~g,.c.~~E~~~r.:e.'...1..2.9.9.?'.'':'~...r.:,g,~~"...?27..L..E:~~.';~r;.~.~iI~~y Sworn to and subscnbed before me this l::-..1.:.. daY07;J~.2Z.A D 19 Z/ .............f...L&~L~::~i~...·........:::.:~::::· Register COMMONWEALTH OF PENNSYLVANIA,}ss . WASHINGTON COUNTY,... And now.....y.h~.~...g9.y.g...3§Y.....?!.....9.g.~.?q~7.t,comes·"~~fI~~·"~}'''~!~U~I·o~~~a·~r~~~f···t~·r&~~f?·pi t~~~:gl who being duly sworn doth depose and say that...:th!?.Y........will well and truly administer the goods and chat- tels,rights and credits of b.~.Q P..9.IJ:gl9:...Qg:t:tWi?:!.L.~/~I.~~.~g p..~gE:~.~!P:~E deceased, to the best of .:tb.~J.r...skill and judgment in strict compliance with the laws of this Commonwealth,mind- ful of the laws relating to inheritance taxes.'# Sworn and subscribed before me this c-.j.?:. ~.7/day of.~~.:A.1;>.19 .. ............"'.._;r.":./~~.. Register ....~~~ .;;~::L~ttsbUrgh Trust Officer ~(1) -11,Q~-(1) ~.E 11I(\1 1 ;<00 '",..ll~•v,~+'"';~ I t'1\\'+",•'",~.'.".",.'"'?,"",ri''M,,rl :..,.,"''',<'-',",,,$~t\\\9.:.d '"i :..I:r~r"r-!ttl ~'tio"'".0'.I,._.., ..~H :..-I::I"'.:I ~,c:P=: ",;'.'.~..'',~~~ttl 1 ';:;1 7 g'tlD:>1 ..~,,-"';'~1 ..OC''r "'I I I .,~c:';oj N''''~,•",."/",I 'r-!~:"V'",,""-;1 1 ,,.._'"00;0 tJ"".•, .,'"ri,~ri ~,oo '-"~,'",~,"0 ....~,. '""'""'.~,+'ill'ill....S ''"~.,0'""~+',il '"''".,...,Q +'~~~]1 C·r-!j f~':c (~"/J ,'r{Id U ttl 1HI=:.V ","~0'.+",,,,,....'".., ~~,v 0 'S .,.....''''LLC'(1)..0,~;<,u OJ +""-,"Er.!._.'I,.Jr 'Ii \)•:>tlD,..-~'v .0,~~,""c •.'"M ••" !'(I g "':q ~0:""":"i •SHiNr'~.0::CO ..PA.rl ~~§ttl('\l'i'l ri'"'"'"0,'d',+'0 ~,.'oS "'M'•00,~",.".~;ill 0 +';-" ""0 ;6l'@ U)P,.0 0 ~,"~qj 'd 'ti (1)1 ~S~p.!~"0;;•-"1 ;••I'ID ;'!i ~"...,,",.H'v ~0 •.......:.....0 ..... ".:2.....::r::~/'r-!".v ~'"(~~~]~+'~~ l.•"lI "......' L 3·-)J·/ (!Tnmmnuwralt4 of 'ruusyluauia 11lltalil1ingtou (!!ounty.lili;. .~17')f$BE IT REMEMBERED,That upon thls .f day of ~. 19 ,before me Register for the probate of W~j a)id gl::nting Letters of Administrati\j ~,.n and for said county,came . 1.~t:~~r~(L.·..~~-:?!...~~g.h!J.~.~~g.'g~.m.~.nt . ............................................................................................................the subscribing witnesses to the foregoing attached Will of ......................................1.§.9.p..9.n.~.1Q.g-.g,.t..t..m~.n . deceased,who,after being duly qualified according to law,depose and say:That they were present at the . f 'd W'ill .I 'or .h h d Him bl'h . d f .executIOn 0 Sal -saw t 1e testat slgn t e same-ear pu IS It as an 01 His I W'll dT ·th I His ..'His.d'1..............................ast 1 an estament"at t1ey at..lequest,m plesence,an 111 t1e presence of each other,subscribed their names thereto as witnesses;and at the time of the doing thereof said testat 9.!'was of sound,disposing mind,memory and understanding,to the best of the affiants' 1 1_.-1__....._..l L,..l-=-£ WILL of LEO DONALD GUTTMAN I,LEO DONALD GUTTMAN,of the City of Charleroi, Washington County,Pennsylvania,declare this to be my last will and revoke any and all wills previously made by me. ARTICLE ONE.I give and bequeath all my clothing, ,jewelry,furniture,automobiles and other articles of personal or household use,equipment and ornament,together with any policies of insurance thereon,to my wife,MARGARET BISSELL GUTTMAN,if she shall survive me.If my said wife shall not survive me,I give and bequeath such property to my son,MAURY S.GUTTMAN,if he shall survive me. ARTICLE TWO.If my wife,MARGARET BISSELL GUTTMAN, shall survive me,I devise and bequeath to the trustees named in Article Six hereof,in trust,a fractional share of the residue of my estate determined as follows:The numerator of the said fraction shall equal the value of one-half (1/2)of my adjusted gross estate as finally determined for federal estate tax purposes,reduced by any property or interests that qualify for the federal estate tax marital deduction and that pass or shall have passed to my said wife otherwise than under this Article of my will;the denominator of said fraction shall equal the value of my residuary estate.Such fractional share shall be determined on the basis of the values finally determined for federal estate tax purposes,shall include,to the extent possible,only assets that,under the Internal Revenue Code applicable to my estate, qualify for the said marital deduction,and upon which there is available no foreign death tax credit,and shall be undiminished by any estate,inheritance,or other death taxes. If my said wife and I shall die under such circumstances that it is impossible to determine which of us survived,it shall be conclusively presumed and this will shall be construed as if my said wife had survived me. The trustees shall hold,manage,invest and reinvest the trust property,shall collect the income thereof and shall distribute the net income in quarter-annual installments,or more frequently if the trustees deem it advisable,to or for the benefit of my said wife during her lifetime.If the income thereof shall be less than Twenty-five Thousand Dollars ($25,000.00)per year,the trustees shall distribute to my said wife such amounts from the principal of the trust as shall be necessary to increase the aggregate distributions to my said wife,including income distributions,to Twenty-five Thousand Dollars ($25,000.00)per year.In addition,the trustees in their discretion may distribute to or for the benefit of my said wife so much of the principal of the property held in trust for her as they shall from time to time deem necessary or proper for emergencies involving her health,maintenance and support. On the death of my said wife,the trustees shall distribute the principal of the trust property to such persons (including the estate of my said wife)and in such proportions as my said wife may by her last will appoint by specific reference to this power of appointment.In the event of her failure so to exercise this power,the remaining principal of the trust property shall be added to and become a part of the principal of the trust created under the terms of Article Three of this will to be continued in trust or distributed as provided therein. -2- ·' ARTICLE THREE.I devise and bequeath the balance of the residue of my estate,or all of the residue if my said wife shall not survive me,to the trustees named in Article Six hereof in trust for the following purposes:Until my son,MAURY S. GUTTMAN,shall reach the age of forty (40)years,the trustees shall distribute to my said son so much of the net income as shall not exceed the sum of Twenty-five Thousand Dollars ($25,000.00) per year.Any income in excess of Twenty-five Thousand Dollars ($25,000.00)per year shall be added to the principal of the property held in trust for him.The trustees shall also distribute to my said son so much of the principal of the property held in trust for him as he shall certify to be necessar for the establishment or continuation of any business in which he may wish to engage,but such distribution or distributions shall not exceed One Hundred Thousand Dollars ($100,000.00)in the aggregate. When my said son shall reach the age of forty (40) years,the trustees shall thereafter distribute all of the income from the property held in trust for him to my said son.The trustees shall also distribute to or for the benefit of my said son so much of the principal of such property as he shall certify to be necessary for any emergency or for his personal use,but such distribution shall not exceed in the aggregate the sum of Twenty-five Thousand Dollars ($25,000.00)in anyone calendar year. At any time during the continuation of the said trust, the trustees in their discretion may distribute to or for the benefit of my said son so much of the principal of the property held in trust for him as they shall from time to time deem -3- ·. necessary or proper for his health,maintenance and support. On the death of my said son,the trustees shall distribute any property then held in trust for him to his issue then living,per stirpes,subject to the provisions of Article Four hereof;if he shall have no issue then living or,if at the time of the death of the survivor of my wife and me,I shall have no issue then living,the trustees shall distribute the trust property to the children then living of my brothers,JESSE B. GUTTMAN and HOWARD S.GUTTMAN,per capita,or the survivor of such children. ARTICLE FOUR.If any beneficiary of my estate is a minor,I devise and bequeath the share of my estate to which such minor would otherwise have been entitled to the trustees named in Article Six hereof in trust for such minor.The trustees shall distribute to the guardian of the person of such minor or, in the trustees!discretion,shall apply directly so much of the net income,and if the net income is insufficient,so much of the principal of the share so held in trust for such minor,as the trustees may deem necessary or advisable for the comfortable support,education and welfare of such minor.The trustees shall accumulate any surplus net income and add the same to the principal of the trust.When such minor reaches the age of twenty-one (21)years,the trustees shall distribute to him the principal of such share and any accumulated income thereon, absolutely and free from all trusts.If any such minor shall die before reaching the age of twenty-one (21)years,the property held in trust for him,including any accumulation of income thereon,shall be distributed to such person or persons as are ~ntitled to his estate. -4- ·' ARTICLE FIVE.Except as otherwise provided herein, during the continuance of any of the trusts created under the provisions of this will,and thereafter until the property is distributed to and received by the beneficiaries hereunder,the principal sums thus held in trust for the beneficiaries, respectively,and the income thereof shall not be subject to or liable for any contracts,debts,engagements,liabilities or torts of such beneficiaries,or any of them,now or hereafter made,contracted,incurred or committed,but shall be absolutely free from the same,and the said beneficiaries shall have no power to sell,assign or encumber all or any part of said principal sums or their interest therein,respectively,or the income thereof,or to anticipate the said income. ARTICLE SIX.I appoint my brother,HOWARD S.GUTTMAN, and THE UNION NATIONAL BANK OF PITTSBURGH,as executors and trustees of all trusts created by this will.In the event of the inability or refusal of my said brother to act or to continue as an executor or trustee,I direct that no successor shall be appointed.No executor or trustee acting hereunder shall be required to give bond or other security for the faithful performance of his or its duties. I authorize my executors and trustees and any successor or successors,in their sole discretion,to exercise the following powers in addition to those given by law: (a)To accept,retain and invest in any real or personal property,including stock of The Union National Bank of Pittsburgh,without restriction to legal investments; (b)To sell,exchange,partition or lease for any period of time any real or personal property and to give options therefor for cash or credit,with or without security; -5- (c)To borrow money from any person including any fiduciary acting hereunder,and to mortgage or pledge any real or personal property; (d)To compromise,arbitrate or abandon claims; (e)To make distribution in cash or in kind or partly in each; (f)To administer a separate trust for each beneficiary hereunder,but for convenient administration such separate trusts may be combined in one common trust fund,each separate trust having an undivided interest therein; (g)To make such elections,decisions,concessions and settlements in connection with all income, estate,inheritance,gift or other tax returns and the payment of such taxes,without obligation to adjust the distributive share of income or principal of any person thereby affected. (h)To conduct any business in which I am engaged or in which I have an interest st the time of my death for such periods as are deemed advisable with power to borrow money and pledge the assets of the business and to do all other acts which I,in my lifetime,could have done or to delegate such powers to any partner,manager or employee without liability for any loss occurring therein. ARTICLE SEVEN.All estate taxes,inheritance taxes, transfer taxes and other taxes of a similar nature payable by reason of my death to any government or subdivision thereof upon or with respect to any property subject to any such tax shall be paid by my executors out of the principal of that portion of my estate disposed of by Article Three,and all interest with respect to any such taxes shall be paid by my executors out of the income or principal or partly out of the income and partly out of the principal of such portion of my estate,in the absolute discretion of my executors,without reimbursement from or apportionment among the beneficiaries,recipients or owners of such property for any such taxes or interest.Notwithstanding the foregoing directions,my executors may decline to pay all or -6- .. any part of the inheritance taxes with respect to any remainder interest created under this will if,in their discretion,they determine such action to be for the best interests of my estate. III .'1 seal this IN WITNESS WHEREOF I have hereunto set my hand and ,j-#fJ /A·IJJI J.;tr~day of ~~ober,1967. Signed,sealed,published and declared by the above named LEO DONALD GUTTMAN as and for his last will,in the presence, of us and each of us,who,at his request and in his presence and in the presence of each other,have hereunto subscribed our names as witnesses thereof the day and year last above written. v· -7- ..,...."• IN THE COURT OF COMMON PLEAS OF WASHINGTON COUNTY,PENNSYLVANIA ORPHANS'COURT DIV=SION IN RE ESTATE OF LEO DONALD GUTTMAN a/k/a LEO D.GUTTMAN,DECEASED NO.63-71-1082 ACCEPTANCE OF TRUST H01tJARD S.GUTTMAN and THE UNION NATIONAL BANK OF PITTSBURGH, Trustees named in the Will of LEO DONALD GUTTMft~a/k/a LEO D.GUTTMAN, Deceased,dated November 1,1967 probated and cf record in the Office of the Register of Wills in and for Washington COknty,Pennsylvania in Will Book No.112,hereby accept the duties of said appointment. THE UNION NATIONAL BANK OF PITTSBURGH (J .BY~~7 Trust Officer " POST OFFICE BOX No.637 PITTSBURGH,PA.15230 DONALD L.DAWSON TRUST OFFICER December 2,1971 Mr.Guy A.Rodgers,Deputy Register of Wills Clerk of the Orphans'Court Washington,Pennsylvania In re:Estate of Leo Donald Guttman,Deceased Dear Mr.Rodgers: In accordance with our telephone conversation today,I am enclosing the original of the Acceptance of Trust for filing executed by Howard S.Guttman and The Union National Bank of Pittsburgh,as Co-Trustees of the Will of Leo Donald Guttman a/k/a Leo D.Guttman. After this document has been filed,will you please send us a statement evidencing that action and for any cost involved. truly yours, ~~,-- Donald L.Dawson Trust Officer DLD/mf Enclosure #9240 ... " -,{./i ~ ',1 40 •/':"I',II, •...J. - J I Ls ," ~0"Wt:l I~-.J I-'~I I-' 0~CO f\)P.CD ~0 ~-p...