Ted Q. Williams 125 Hickory Street Cherry Hill, NJ (856) Attorney for the Executors

Transcription

1 Ted Q. Williams 125 Hickory Street Cherry Hill, NJ (856) Attorney for the Executors SUPERIOR COURT OF NEW JERSEY CHANCERY DIVISION - PROBATE PART CAMDEN COUNTY In the Matter of the Estate of Robert W. Robertson Deceased. EXECUTOR'S ACCOUNT The first intermediate account of State National Bank, NA, John Q. Esquire, as Executor(s) of the Estate of Robert W. Robertson, deceased, covering the period from January 10, 2011, the Date of Death to December 31, 2011, the closing date of this account, is as follows:

2 SUMMARY STATEMENT FIRST: AS TO CORPUS The Accountant charges itself with: Original property owned by decedent, as shown in Schedule A $ 616, Subsequent Receipts of Principal, as shown in Schedule AA Gains on Corpus Assets, as shown in Schedule B (realized increases on principal) 2,90 Total charges as to Corpus $ 619, The Accountant prays allowance for the following Credits: Losses on Corpus Assets, as shown in Schedule B (realized decreases on principal) $ Payment of Corpus for Funeral Expenses and Debts, as shown in Schedule C-1 12,50 Payment of Corpus for Estate and Inheritance Taxes, as shown in Schedule C-2 Payment of Corpus for Administration Expenses, as shown in Schedule C-3 47,50 Distributions of Cash Legacies, as shown in Schedule D-1 30,00 Transfers From Principal to Income, as shown in Schedule D-1 Distributions in Kind of Specific Legacies, as shown in Schedule D-2 7,50 Distributions on Account of Residuary Estate, as shown in Schedule D-3 Total Credits as to Corpus Corpus on Hand, as shown in Schedule E 97,50 $ 521, The Accountant charges itself with: Income Received, as shown in Schedule FF $ Collection of Income, as shown in Schedule F 18, Gains on Income Assets, as shown in Schedule J-1 Total Charges as to Income SECOND: AS TO INCOME $ 18, The Accountant prays allowance for the following Credits: Payment of Income for Administration Expenses, as shown in Schedule G $ Distributions of Income for Beneficiaries, as shown in Schedule H 10,00 Transfers from Income to Principal, as shown in Schedule H Losses on Income Assets, as shown in Schedule J-1 Total Credits as to Income Income on Hand, as shown in Schedule I 10,00 $ 8, (1)

3 State National Bank, NA As Executor John Q. Esquire As Executor (Continued) Page 2 (2)

4 Schedule A Original Property Owned by Decedent Assets Comprising Decedent's Estate as of January 10, 2011 Date of Death Inventory Value Cash and Cash Equivalents 1/10/2011 National Bank, NA Checking A/C # $ 3,75 No. of Shares Stocks 1,000 A C Moore Arts & Crafts Inc. $ 13,25 Dividend at Date of Death 23 3,000 Acorn Prods Inc., common 54,00 Face Amount Bonds, Debentures & T-Bills 500,000 Aetna Life & Casualty Note $ 505, %, 3/15/2005 Interest to Date of Death 10, No. of Shares Mutual Funds Wall Str Fds Inc., U S Equity Fd. $ 22,50 Miscellaneous Tangible Personal Property $ 7,50 Total Schedule A $ 616, Schedule A Original Property Owned by Decedent (3)

5 Schedule B Gains and Losses on Corpus Assets Proceeds or Distribution Value Inventory Value Increase Decrease Capital Gain Distribution 10/31/ Wall Str Fds Inc., U S Equity Fd. 10/31/ Wall Str Fds Inc., U S Equity Fd. Total Capital Gain Distribution Collection 1/17/2011 A C Moore Arts & Crafts Inc. Accrued Dividend 3/15/2011 Aetna Life & Casualty Note 6.375%, 3/15/2005 Accrued Interest Total Collection $ 75 $ $ 75 $ 1,15 1,15 $ 1,90 $ $ 1,90 $ $ 23 $ 23 $ $ 10, , $ 10, $ 10, $ $ Distribution 2/25/2011 Tangible Personal Property Total Distribution $ 7,50 $ 7,50 $ $ $ 7,50 $ 7,50 $ $ Return of Principal 10/31/ Wall Str Fds Inc., U S Equity Fd. Total Return of Principal $ 1,10 $ 1,10 $ $ $ 1,10 $ 1,10 $ $ Sale Schedule B Gains and Losses on Corpus Assets (4)

6 Schedule B (Continued) Proceeds or Distribution Value Inventory Value Increase Decrease Sale 6/15/ ,000 Face Aetna Life & Casualty Note 6.375%, 3/15/2005 Total Sale $ 253,50 $ 252,50 $ 1,00 $ $ 253,50 $ 252,50 $ 1,00 $ Total Schedule B $ 274, $ 271, $ 2,90 $ Schedule B (Continued) Gains and Losses on Corpus Assets Page 2 (5)

7 Schedule C-1 Payments of Corpus For Funeral Expenses and Debts Date Paid Amount Paid Debts of Decedent 2/17/2011 St. Mary's Hospital Final bill $ 1,50 Total Debts of Decedent Funeral Expenses $ 1,50 3/14/2011 Cole's Funeral Parlor Funeral, Flowers 3/23/2011 Jacob's Headstones Headstone $ 8,50 2,50 Total Funeral Expenses $ 11,00 Total Schedule C-1 $ 12,50 Schedule C-1 Payments of Corpus For Funeral Expenses and Debts (6)

8 Schedule C-2 Payments of Corpus For Estate and Inheritance Taxes Date Paid Total Schedule C-2 Amount Paid $ Schedule C-2 Payments of Corpus For Estate and Inheritance Taxes (7)

9 Schedule C-3 Payments of Corpus For Administration Expenses Date Paid Amount Paid Administration Expenses 9/29/2011 John Q. Esquire Executor's Commissions -Payment on account 9/29/2011 State National Bank, NA Executor's Commissions -Payment on account $ 10,00 15,00 Total Administration Expenses Fees and Commissions $ 25,00 6/2/2011 Williams, Williams & Williams Legal fee, payment on account 8/9/2011 Ronald McRonald, CPA Accounting fees $ 15,00 7,50 Total Fees and Commissions $ 22,50 Total Schedule C-3 $ 47,50 Schedule C-3 Payments of Corpus For Administration Expenses (8)

10 Schedule D-1 Distributions of Cash Legacies Inventory Value Elaine D. Robertson 7/3/2011 Cash $ 30,00 Total To Or For Beneficiary Total Distributions $ $ 30,00 30,00 Total Schedule D-1 $ 30,00 Schedule D-1 Distributions of Cash Legacies (9)

11 Schedule D-2 Distributions in Kind of Specific Legacies Market Value Inventory Value Elaine D. Robertson 2/25/2011 Tangible Personal Property $ 7,50 $ 7,50 Total To Or For Beneficiary Total Distributions $ 7,50 $ 7,50 $ 7,50 $ 7,50 Total Schedule D-2 $ 7,50 $ 7,50 Schedule D-2 Distributions in Kind of Specific Legacies (10)

12 Schedule D-3 Distributions on Account of Residuary Estate Market Value Inventory Value Increase Decrease Total Schedule D-3 $ $ $ $ Schedule D-3 Distributions on Account of Residuary Estate (11)

13 Schedule E Statement of Corpus On Hand, December 31, 2011 Market Value 12/31/2011 Inventory Value Increase Decrease Cash and Cash Equivalents Advantus Money Mkt Fd Inc. State Bank, NA Estate Account No $ 10,00 $ 10,00 $ $ 145, , Stocks 1,000 Shares A C Moore Arts & Crafts Inc. 4,500 Shares Acorn Prods Inc., common 500 Shares Alliance Pharmaceutical Corp Common 250 Shares Alliance Resource Partners LP Bonds, Debentures & T-Bills 250,000 Face Aetna Life & Casualty Note 6.375%, 3/15/2005 Mutual Funds 531 Shares 59 Wall Str Fds Inc., U S Equity Fd. 38,00 13,25 24,75 90,00 54,00 36,00 24,00 17,25 6,75 6,00 5, ,75 252,50 1,25 23,00 23,30 30 Total Schedule E $ 590, $ 521, $ 69,00 $ 30 Schedule E Statement of Corpus On Hand, December 31, 2011 (12)

14 Schedule F Statement of All Income Collected Income Collected Dividend 59 Wall Str Fds Inc., U S Equity Fd. 1/31/2011 Dividend on 500 Shares $ /28/2011 Dividend on Shares /31/2011 Dividend on Shares /30/2011 Dividend on Shares /31/2011 Dividend on Shares /30/2011 Dividend on Shares /31/2011 Dividend on 509 Shares /31/2011 Dividend on Shares /30/2011 Dividend on Shares $ A C Moore Arts & Crafts Inc. 1/17/2011 Dividend on 1,000 Shares $ 23 Less accrued portion (23) 4/16/2011 Dividend on 1,000 Shares 23 7/16/2011 Dividend on 1,000 Shares 23 10/31/2011 Dividend on 1,000 Shares Interest Aetna Life & Casualty Note 6.375%, 3/15/2005 Total Dividend 3/15/2011 Interest on 500,000 Face $ 15, Less accrued portion (10,270.83) 6/15/2011 Interest on Sale 3, /16/2011 Interest on 250,000 Face 7, $ 1, , Total Interest Total Income Collected $ 16, $ 18, Total Income Received $ 18, Schedule F Statement of All Income Collected (13)

15 Schedule G Payment of Income for Administration Expenses Date Paid Total Schedule G Amount Paid $ Schedule G Payment of Income for Administration Expenses (14)

16 Schedule H Distributions of Income to or for the Beneficiaries Market Value Inventory Value Increase Decrease Elaine D. Robertson 10/31/2011 Cash Total To Or For Beneficiary Total Distributions of Income to Beneficiaries $ 10,00 $ 10,00 $ $ $ 10,00 $ 10,00 $ $ $ 10,00 $ 10,00 $ $ Total Schedule H $ 10,00 $ 10,00 $ $ Schedule H Distributions of Income to or for the Beneficiaries (15)

17 Schedule I Statement of Income On Hand, December 31, 2011 Market Value 12/31/2011 Inventory Value Increase Decrease Cash and Cash Equivalents Advantus Money Mkt Fd Inc. State Bank, NA Estate Account No $ 5,00 $ 5,00 $ $ 2, , Mutual Funds Shares 59 Wall Str Fds Inc., U S Equity Fd Total Schedule I $ 8, $ 8, $ $ Schedule I Statement of Income On Hand, December 31, 2011 (16)

18 Schedule J Changes Made in Investments and Assets Since They were Acquired Inventory Value New Investments 59 Wall Str Fds Inc., U S Equity Fd. 01/31/ Shs. Purchased via Reinvestment $ /28/ Shs. Purchased via Reinvestment /31/ Shs. Purchased via Reinvestment /30/ Shs. Purchased via Reinvestment /31/ Shs. Purchased via Reinvestment /30/ Shs. Purchased via Reinvestment /31/ Shs. Purchased via Reinvestment /31/ Shs. Purchased via Reinvestment /30/ Shs. Purchased via Reinvestment /31/ Shs. Purchased via Reinvestment 75 10/31/ Shs. Purchased via Reinvestment 1,15 Alliance Pharmaceutical Corp Common 08/30/ Shs. Purchased 23,00 Total New Investments $ 25, Exchanges and Stock Distributions 59 Wall Str Fds Inc. 01/10/2011 1,500 Shs. Received 33,00 1,500 Shs. On Hand $ 33,00 59 Wall Str Fds Inc., U S Equity Fd. 01/10/ Shs. Received 22,50 01/31/ Shs. Income Reinvestment /28/ Shs. Income Reinvestment /31/ Shs. Income Reinvestment /30/ Shs. Income Reinvestment /31/ Shs. Income Reinvestment /30/ Shs. Income Reinvestment Schedule J Changes Made in Investments and Assets Since They were Acquired (17)

19 Schedule J (Continued) Inventory Value Exchanges and Stock Distributions 07/31/ Shs. Income Reinvestment $ /31/ Shs. Income Reinvestment /30/ Shs. Income Reinvestment /31/2011 Return of principal (1,10) 10/31/ Shs. Cap gain reinvestment 75 10/31/ Shs. Cap gain reinvestment 1, Shs. On Hand $ 23, A C Moore Arts & Crafts Inc. 01/10/2011 1,000 Shs. Received 13,25 1,000 Shs. On Hand $ 13,25 Acorn Prods Inc., common 01/10/2011 3,000 Shs. Received 54,00 06/14/2011 1,500 Shs. Received as a stock distribution 4,500 Shs. On Hand $ 54,00 Aetna Life & Casualty Note 6.375%, 3/15/ /10/ ,000 Face Received 505,00 06/15/2011 (250,000) Face Sold (252,50) 250,000 Face On Hand $ 252,50 Alliance Pharmaceutical Corp Common 08/30/ Shs. Purchased 23,00 09/28/2011 Spin Off to Alliance Resource Partners LP 500 Shs. (5,75) On Hand $ 17,25 Alliance Resource Partners LP 09/28/ Shs. Received as Spin Off From Alliance Pharmaceutical Corp Common 5,75 Schedule J (Continued) Changes Made in Investments and Assets Since They were Acquired Page 2 (18)

20 Schedule J (Continued) Inventory Value Exchanges and Stock Distributions 250 Shs. On Hand $ 5,75 Tangible Personal Property 01/10/2011 Received 7,50 02/25/2011 Distribution To Elaine D. Robertson (7,50) Schedule J (Continued) Changes Made in Investments and Assets Since They were Acquired Page 3 (19)

21 Schedule J-1 Gains and Losses on Income Assets Proceeds or Distribution Value Inventory Value Increase Decrease Total Schedule J-1 $ $ $ $ Schedule J-1 Gains and Losses on Income Assets (20)

22 Schedule L Statement of Other Pertinent Facts and of Cash Reconciliation CASH Corpus DEBITS CREDITS Schedule A Corpus Received $ $ 3,75 B Corpus Gains/Losses 267, C-1 Funeral Expenses/Debts 12,50 C-3 Administration Expenses 47,50 D-1 Cash Legacies 30,00 J Investments 24,90 E Corpus Remaining on Hand 155, Total $ 270, $ 270, CASH Income DEBITS CREDITS $ $ F Income Collected 18, H Distributions 10,00 J Investments I Income Remaining on Hand 7, Total $ 18, $ 18, SECURITIES Corpus DEBITS CREDITS Schedule A Corpus Received $ $ 612, B Corpus Gains/Losses 264, D-2 Specific Legacies 7,50 J Investments 24,90 E Corpus Remaining on Hand 366,05 Total $ 637, $ 637, SECURITIES Income DEBITS CREDITS $ $ J Investments I Income Remaining on Hand Total $ $ Schedule L Statement of Other Pertinent Facts and of Cash Reconciliation (21)

23 AFFIDAVIT OF ACCOUNTING PARTY STATE OF NEW JERSEY ) : SS. : ) COUNTY OF CAMDEN JONATHAN P. CRUMBLE, a SR. VICE PRESIDENT of STATE NATIONAL BANK, NA, being duly sworn according to law, upon his/her oath deposes and says that he/she is the Executor in the foregoing account of proceedings, and that the matters and things therein contained, both as to the charges and discharges thereof, are true to the best of his/her knowledge and belief. By: State National Bank, NA Subscribed and sworn to before me, a Notary Public Title: Sr. Vice President this day of, Notary Public

24 AFFIDAVIT OF ACCOUNTING PARTY STATE OF NEW JERSEY ) : SS. : ) COUNTY OF CAMDEN JOHN Q. ESQUIRE, being duly sworn according to law, upon his/her oath deposes and says that he/she is the Executor in the foregoing account of proceedings, and that the matters and things therein contained, both as to the charges and discharges thereof, are true to the best of his/her knowledge and belief. Subscribed and sworn to before me, a Notary Public John Q. Esquire this day of, Notary Public