- 14 -
the account to show that Lynch was to be charged with $15,000 in
Delaware River Bonds, $10,000 in California Toll Bridge Bonds,
and $5,061 of coupons. A total of $500,761.19 in disbursements
was charged to Lynch.
It is common practice in the Commonwealth of Pennsylvania
for fiduciaries, personal representatives, executors and/or
administrators to pay money out of an estate for lawyers fees,
distributions to beneficiaries, etc., without court approval in
an accounting but such payments are made "at risk", i.e., one
runs the risk that if the payments are not approved by the court
in an accounting, the payments and/or distributions will have to
be returned to the estate.
On December 26, 1985, Mary and Anthony Orlando and their
daughter, Connie Kates, individually and as executrix of the
estate of James Meriano, the deceased brother of Philip, executed
a stipulation and family settlement agreement with Panepinto,
individually and as administratrix c.t.a. of the Estate of Philip
Meriano and INA. Under the terms of the agreement, Panepinto and
Hernadi and the Estate of Philip Meriano relinquished their
rights to file a surcharge action against Mary Orlando and her
surety, INA.5
5 The stipulation and family settlement agreement was not
made a part of record.
Page: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 NextLast modified: May 25, 2011