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4.5 |
[SEE CAPTION AT 1.3.1]
DECREE
Now,___________________,
20____, upon consideration of the annexed Petition, it is hereby ORDERED
and DECREED that Jane R. Dunn, Administrator of the Estate of Joseph B.
Dunn, Deceased, is hereby authorized to compromise and settle the claim
of Joseph B. Dunn, Deceased, against Richard Harrison under an Agreement
dated March 8, 2001 for the aggregate amount of $15,000 in full payment
and settlement thereof, the amount of $15,000 to be accounted for by Jane
R. Dunn in her final account as Administrator, but without liability on
her part for the difference between the amount of $15,000 and the amount
at which the Decedent's interest under the Agreement was stated in the inventory
filed by her as Administrator in the Office of the Register of Wills. |
J.
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[SEE CAPTION AT 1.3.2]
The Petition of Jane R. Dunn respectfully states that:
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1.
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She is Administratrix of the Estate of Joseph B. Dunn, Deceased who died on July 7, 2001, and Letters of Administration were granted to her by the Register of Wills of Philadelphia County on July 16, 2001. | |
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2.
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During his lifetime, Joseph B. Dunn entered into an Agreement dated March 8, 2001, with his partner, Richard Harrison, for the sale of his one-half interest in a partnership known as Dunn and Harrison. A copy of the Agreement is attached hereto as Exhibit "A." | |
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3.
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By the terms of the Agreement, the amount of $5,000 was paid to the Decedent on the date of the sale and, in the event that the gross income of the partnership exceeded the amount of $50,000 during 1999, an additional amount of $20,000 was payable to him on March 8, 2000. | |
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4.
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A dispute has arisen as to whether the partnership's gross income exceeded $50,000 during 2001 because of the manner in which the gross income was calculated based upon the accounting practices employed by the partnership. | |
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5.
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Petitioner filed her Inventory of the Estate of Joseph B. Dunn, Deceased, in the Office of the Register of Wills on November 5, 2001, and included therein Decedent's interest under the Agreement at a value of $20,000. | ||
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6.
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No payments on account of the balance of $20,000 have been paid to Petitioner even though the amount became due on March 8, 2000, and even though repeated demands have been made by Petitioner therefor. | ||
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7.
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The parties in interest are Petitioner, who is entitled to the first $30,000 and one-half of the balance of the estate, and the Decedent's and Petitioner's two minor children, James Dunn and Janet Dunn, each of whom is entitled to one-fourth of the balance of the estate. | ||
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8.
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Harry James, Esquire, was appointed Guardian of the Estates of the Minors, James Dunn and Janet Dunn, by Decree of Jones, J., dated October 3, 2001.. | ||
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9.
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Richard Harrison wishes to compromise the estate's claim by paying to Petitioner the amount of $15,000, which Petitioner regards as a fair and just settlement in view of the uncertainties and expense of litigation; however, Petitioner and Harry James, Esquire, as Guardian of the Estates of James Dunn and Janet Dunn, are unwilling to undertake the settlement without court approval. | ||
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10.
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Under 20 Pa. C.S.A. §3323, whenever it shall be proposed to compromise any claim by an estate, the Court, on petition by the personal representative setting forth all of the facts and circumstances and after such notice as the Court shall direct, may enter a Decree authorizing the compromise or settlement to be made. | ||
Wherefore,
Petitioner respectfully requests this Court to authorize Petitioner to
compromise and settle the claim of Joseph B. Dunn, Deceased, against Richard
Harrison under an Agreement dated March 8, 2001, for the aggregate amount
of $15,000 in full payment and settlement thereof, the amount of $15,000
to be accounted for by Jane R. Dunn in her final account as Administrator,
but without liability on her part for the difference between the amount
of $15,000 and the amount at which Decedent's interest under the Agreement
was stated in the Inventory filed by her as Administrator in the Office
of the Register of Wills.
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Jane R. Dunn
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[SEE AFFIDAVIT AT 1.4.1 OR VERIFICATION AT 1.4.3]
[SEE CAPTION AT 1.3.2]
I
join in the above Petition on behalf of Decedent's minor children, James
Dunn and Janet Dunn.| Signed on ___________________, 20____ | ||
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Harry James, Guardian
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| Note: | |
This Petition should not be used for compromising wrongful death or survival claims. See Chapter 11. |