Model Charitable Remainder Unitrust Account

There are all sorts of forms executors, beneficiaries, and probate court clerks have to fill out and correspond with during probate and estate settlement, including affidavits, letters, petitions, summons, orders, and notices.

Model Charitable Remainder Unitrust Account is a commonly used form within Pennsylvania. Here’s an overview of what the form is and means, including a breakdown of the situations when (or why) you may need to use it:

Atticus Fast Facts About Model Charitable Remainder Unitrust Account

Sometimes it’s tough to find a quick summary— here’s the important details you should know about Model Charitable Remainder Unitrust Account:

• This form pertains to the State of Pennsylvania

Government forms are not typically updated often, though when they are, it often happens rather quietly. While Atticus works hard to keep this information about Pennsylvania’s Form Model Charitable Remainder Unitrust Account up to date, certain details can change from time-to-time with little or no communication.

Step 1 - Download the correct Pennsylvania form based on the name and ID if applicable

Double check that you have both the correct form name and the correct form ID. Some Pennsylvania probate forms can look remarkably similar, so it’s best to double, even triple-check that you’re using the right one! Keep in mind that not all States have a standardized Form ID system for their probate forms.

Step 2 - Complete the Document

Fill out all relevant fields in Form Model Charitable Remainder Unitrust Account, take a break, and then review. Probate and estate settlement processes in PA are long enough to begin with, and making a silly error can push your timeline even farther back. No thank you!

Note: If you don’t currently know all of the answers and are accessing Form Model Charitable Remainder Unitrust Account online, be sure to avoid closing the browser tab and potentially losing all your progress (or use a platform like Atticus to help avoid making mistakes).

Step 3 - Have Form witnessed or notarized (if required)

Some States and situations require particular forms to be notarized. If you have been instructed to get the document notarized or see it in writing on the document, then make sure to hire a local notary. There are max notary fees in the United States that are defined and set by local law. Take a look at our full guide to notary fees to make sure you aren’t overpaying or getting ripped off.

Step 4 - Submit Model Charitable Remainder Unitrust Account to the relevant office

This is most often the local probate court where the decedent (person who passed away) is domiciled (permanently resides) or the institution involved with this particular form (e.g. a bank). Some offices allow you to submit forms online, other’s don’t, and we while we generally recommend going in-person to expedite the process, sometimes that simply isn’t an option.

It’s also a generally good idea to establish a positive working relationship with any probate clerk (unfortunately there’s enough people & process out there making things more difficult and unnecessarily confusing for them), so a best practice is to simply ask the probate clerk proactively exactly how and where they’d prefer you to submit all forms.

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Different probate forms or processes can require different deadlines or response times for completing the appropriate form.

While some steps in the process are bound to specific deadlines (like petitioning for probate, having to submit an inventory of assets, or filing applicable notices to creditors and beneficiaries), many probate forms or processes are not tied to a specific deadline since the scope of work can vary based on situational factors or requirements involved.

Either way, there are a bunch of practical reasons why personal representatives should work to complete each step as thoroughly and quickly as possible when completing probate in Pennsylvania.

5 reasons you should submit this form as quickly as possible:

1. The sooner you begin, the faster Pennsylvania can allow heirs and beneficiaries to get their share of assets subject to probate. Acting promptly can also decrease the costs & overall mental fatigue through an otherwise burdensome process.
   
   Helpful Context: What’s the Difference Between Probate and Non-Probate Assets?

2. In general, creditors of an estate usually have around 3-6 months from the time you file notice to creditors to file any claims for debt against the deceased’s assets. If they don’t, then that debt is forfeited (and more importantly, the executor won’t be held personally responsible). So doing this sooner means you have a better idea of who is owed what and ensures you won’t get a surprise collector months later.

3. Not filing a will within 30 days (on average) could mean that the probate process proceeds according to intestate laws (laws that govern what happens to someone's stuff without a will) or is subject to unnecessary supervision by the probate court. And if you aren't directly related to the deceased (a.k.a. next of kin), this could also mean you lose your inheritance.

4. It’s important to file any necessary state tax returns on behalf of the deceased or estate by the following tax season in Pennsylvania. If you don’t, you could owe penalties and interest. This also includes any necessary federal tax returns such as Forms 1040, 1041, or even a Form 706 estate tax return.

5. If a house in the State of Pennsylvania is left empty (or abandoned) for a while, insurance can get dicey. For example, if the house burns down and no one has been there for a year, an insurance company may get out of paying your claim.

If you’re not using Atticus to get specific forms, deadlines, and timelines for Pennsylvania probate, then try and stay as organized as possible, pay close attention to the dates mentioned in any correspondence you have with the State’s government officials, call the local Pennsylvania probate clerk or court for exact answers regarding Form Model Charitable Remainder Unitrust Account, and when in doubt— consult a qualified trust & estates lawyer for that area.

Model Charitable Remainder Unitrust Account is one of the many probate court forms available for download through Atticus.

It may also be available through some Pennsylvania probate court sites, such as . In order to access the latest version, be updated with any revisions, and get full instructions on how to complete each form, check out the Atticus Probate & Estate Settlement software or consider hiring a qualified legal expert locally within Pennsylvania.

While Atticus automatically provides the latest forms, be sure to choose the correct version of Form Model Charitable Remainder Unitrust Account f using any other site or resource in order to avoid having to re-complete the form process and/or make another trip to the Pennsylvania probate court office.

Model Charitable Remainder Unitrust Account is a .pdf, so opening it should be as simple as clicking “View Form” from within the Atticus app or by clicking the appropriate link found on any Pennsylvania-provided government platform. Once you’ve opened the form, you should be able to directly edit the form before saving or printing.

Here’s the text, verbatim, that is found on Pennsylvania Form Model Charitable Remainder Unitrust Account. You can use this to get an idea of the context of the form and what type of information is needed.

Model Charitable Remainder Unitrust Account IN THE COURT OF COMMON PLEAS OF ____________ COUNTY, PA. ORPHANS' COURT DIVISION NO. 5678 OF 2006 FIRST ACCOUNT FOR THE TRUST ESTABLISHED UNDER DEED DATED JANUARY 1, 2001 OF JOHN DOE AND JANE DOE, SETTLORS STATED BY UPSTANDING TRUST COMPANY, TRUSTEE Date of Deed: 01/01/01 Date of First Receipt of Funds: 01/01/01 Accounting for the period: 01/01/01 to 12/31/05 Purpose of Account: The Trustee offers this Account to acquaint interested parties with the transactions that have occurred during the Administration. It is important that the Account be carefully examined. Requests for additional information, questions or objections can be discussed with: [Name of Counsel] [Address] [Address] [Telephone Number] Supreme Court I.D. No. ______ SUMMARY OF ACCOUNT PAGES PRINCIPAL Receipts 3 $ 10,649,000.00 Net Gain on Sales or Disposition 4 138,618.87 $ 10,787,618.87 Less Disbursements: Administration - Misc. Exp. 5 $ 267,313.00 Transfers to Income 5 2,127,000.00-2,394,313.00 Balance before Distributions $ 8,393,305.87 Principal Balance on Hand 6 $ 8,393,305.87 For Information: Investments Made 7 Changes in Holdings 8-9 INCOME Receipts 10-16 $ 2,717,875.03 Less Disbursements 17 -120,059.00 Balance before Distributions $ 2,597,816.03 Distributions to Beneficiaries 18-19 -2,597,118.60 Income Balance on Hand 20 $ 697.43 COMBINED BALANCE ON HAND $ 8,394,003.30 ================ Unitrust Statement(s) 21-28 Verification 29 - 2 - PRINCIPAL RECEIPTS Received from John Doe and Jane Doe, Settlors, for the uses and purposes as set forth in their Deed of Trust dated January 1, 2001, consisting of: Bonds $500,000 AT&T Corp., 4.25% due 07/01/2001 $ 490,000.00 $500,000 U.S. Treasury Bond, 3% due 10/01/2003 489,000.00 Common Stocks 25,000 Shs. Exxon Mobil Corp. 2,125,000.00 22,000 Shs. General Electric Co. 1,320,000.00 34,000 Shs. General Motors Corp. 2,550,000.00 15,000 Shs. Int'l Business Machines Corp. 1,875,000.00 20,000 Shs. Microsoft Corp 1,400,000.00 $ 10,249,000.00 Cash 400,000.00 TOTAL PRINCIPAL RECEIPTS $ 10,649,000.00 =============== - 3 - PRINCIPAL GAINS OR LOSSES ON SALES OR OTHER DISPOSITIONS GAIN LOSS 07/01/01 $500,000 AT&T Corp., 4.25% due 07/01/2001 Net Proceeds 500,000.00 Acquisition Value 490,000.00$ 10,000.00 01/04/02 34,000 Shs. General Motors Corp. Net Proceeds 2,255,981.00 Acquisition Value 2,550,000.00$ 294,019.00 07/01/02 5,000 Shs. Exxon Mobil Corp. Net Proceeds 491,234.00 Acquisition Value 425,000.0066,234.00 12/22/02 10,000 Shs. General Electric Co. Net Proceeds 895,786.00 Acquisition Value 600,000.00295,786.00 10/02/03 $500,000 U.S. Treasury Bond, 3% due 10/01/2003 Net Proceeds 500,000.00 Acquisition Value 489,000.0011,000.00 03/15/04 4,000 Shs. Vanguard S&P 500 Index Fund Net Proceeds 466,155.00 Acquisition Value 421,064.8445,090.16 11/15/04 10,000 Shs. Vanguard Long Term Bond Fund Net Proceeds 149,885.00 Acquisition Value 150,357.29472.29 12/15/05 500 Shs. Int'l Business Machines Corp. Net Proceeds 67,500.00 Acquisition Value 62,500.005,000.00 TOTALS $ 433,110.16 $ 294,491.29 ============== ============== NET GAIN TRANSFERRED TO SUMMARY $ 138,618.87 ============== - 4 - DISBURSEMENTS OF PRINCIPAL ADMINISTRATION - MISC. EXPENSES Upstanding Trust Company Trustee's Fees 03/30/01 $ 13,088.00 06/30/01 13,125.00 09/30/01 12,297.00 12/30/01 13,045.00 03/30/02 13,129.00 06/30/02 13,155.00 09/30/02 13,269.00 12/30/02 13,400.00 03/30/03 13,515.00 06/30/03 13,532.00 09/30/03 13,615.00 12/30/03 13,718.00 03/30/04 14,543.00 06/30/04 14,618.00 09/30/04 14,624.00 12/30/04 14,655.00 03/30/05 12,458.00 06/30/05 12,516.00 09/30/05 12,499.00 12/30/05 12,512.00$ 267,313.00$ 267,313.00 TRANSFERS FROM PRINCIPAL TO INCOME TO SATISFY UNITRUST PAYOUTS 12/30/01 471,000.00 12/30/02 448,000.00 12/30/03 424,000.00 12/30/04 400,000.00 12/30/05 384,000.002,127,000.00 TOTAL DISBURSEMENTS OF PRINCIPAL $ 2,394,313.00 =============== - 5 - PRINCIPAL BALANCE ON HAND FIDUCIARY VALUE AT ACQUISITION 12/31/2005 VALUE Bonds $500,000 U.S. Treasury Bond, 3.5% due 01/01/2009 $ 498,656.00 $ 498,765.00 Common Stocks 20,000 Shs. Exxon Mobil Corp. 1,936,589.00 1,700,000.00 12,000 Shs. General Electric Co. 998,787.00 720,000.00 14,500 Shs. Int'l Business Machines Corp. 1,965,632.00 1,812,500.00 20,000 Shs. Microsoft Corp 1,932,652.00 1,400,000.00 50,000 Shs. Xerox Corporation 791,564.00 775,345.00 Mutual Funds 56,500 Shs. Vanguard Long Term Bond Fund 850,522.00 849,518.71 5,500 Shs. Vanguard S&P 500 Index Fund 616,654.00 578,964.16 $ 9,591,056.00 $ 8,335,092.87 Upstanding Trust Company Money Market 58,213.00 58,213.00 TOTAL PRINCIPAL BALANCE ON HAND $ 9,649,269.00 $ 8,393,305.87 ================== ================== - 6 - PRINCIPAL INVESTMENTS MADE 01/06/02 66,500 Shs. Vanguard Long Term Bond Fund $ 999,876.00 01/06/02 9,500 Shs. Vanguard S&P 500 Index Fund 1,000,029.00 12/27/02 50,000 Shs. Xerox Corporation 775,345.00 12/29/02 $500,000 U.S. Treasury Bond, 3.5% due 01/01/2009 498,765.00 TOTAL PRINCIPAL INVESTMENTS MADE $ 3,274,015.00 =============== - 7 - CHANGES IN PRINCIPAL HOLDINGS ACCOUNT VALUE Exxon Mobil Corp. 25,000 Shs. Received from Settlors $ 2,125,000.00 07/01/02 5,000 Shs.Sold -425,000.00 20,000 Shs. $ 1,700,000.00 =================== ================== General Electric Co. 22,000 Shs. Received from Settlors $ 1,320,000.00 12/22/02 10,000 Shs.Sold -600,000.00 12,000 Shs. $ 720,000.00 =================== ================== Int'l Business Machines Corp. 15,000 Shs. Received from Settlors $ 1,875,000.00 12/15/05 500 Shs.Sold -62,500.00 14,500 Shs. $ 1,812,500.00 =================== ================== Vanguard Long Term Bond Fund 01/06/02 66,500 Shs. Invested $ 999,876.00 11/15/04 10,000 Shs.Sold -150,357.29 56,500 Shs. $ 849,518.71 =================== ================== - 8 - CHANGES IN PRINCIPAL HOLDINGS (cont'd) ACCOUNT VALUE Vanguard S&P 500 Index Fund 01/06/02 9,500 Shs. Invested $ 1,000,029.00 03/15/04 4,000 Shs.Sold -421,064.84 5,500 Shs. $ 578,964.16 =================== ================== - 9 - RECEIPTS OF INCOME AT&T Corp., 4.25% due 07/01/2001 01/04/01 Interest $500,000 $ 10,625.00 07/04/01 Interest $500,000 10,625.00$ 21,250.00 Exxon Mobil Corp. 02/14/01 Dividend 25,000 Shs. $ 500.00 05/14/01 Dividend 25,000 Shs. 500.00 08/14/01 Dividend 25,000 Shs. 500.00 11/14/01 Dividend 25,000 Shs. 500.00 02/14/02 Dividend 25,000 Shs. 500.00 05/14/02 Dividend 25,000 Shs. 500.00 08/14/02 Dividend 20,000 Shs. 400.00 11/14/02 Dividend 20,000 Shs. 400.00 02/14/03 Dividend 20,000 Shs. 400.00 05/14/03 Dividend 20,000 Shs. 400.00 08/14/03 Dividend 20,000 Shs. 400.00 11/14/03 Dividend 20,000 Shs. 400.00 02/14/04 Dividend 20,000 Shs. 400.00 05/14/04 Dividend 20,000 Shs. 420.00 08/14/04 Dividend 20,000 Shs. 420.00 11/14/04 Dividend 20,000 Shs. 420.00 02/14/05 Dividend 20,000 Shs. 420.00 05/14/05 Dividend 20,000 Shs. 420.00 08/14/05 Dividend 20,000 Shs. 420.00 11/14/05 Dividend 20,000 Shs. 420.008,740.00 General Electric Co. 01/17/01 Dividend 22,000 Shs. $ 2,860.00 04/17/01 Dividend 22,000 Shs. 2,860.00 07/17/01 Dividend 22,000 Shs. 2,860.00 10/17/01 Dividend 22,000 Shs. 2,860.00 01/17/02 Dividend 22,000 Shs. 2,860.00 04/17/02 Dividend 22,000 Shs. 2,860.00 07/17/02 Dividend 22,000 Shs. 2,860.00 10/17/02 Dividend 22,000 Shs. 2,860.00 01/17/03 Dividend 12,000 Shs. 1,560.00 04/17/03 Dividend 12,000 Shs. 1,560.00 07/17/03 Dividend 12,000 Shs. 1,560.00 10/17/03 Dividend 12,000 Shs. 1,560.00 01/17/04 Dividend 12,000 Shs. 1,560.00 04/17/04 Dividend 12,000 Shs. 1,560.00 07/17/04 Dividend 12,000 Shs. 1,560.00 10/17/04 Dividend 12,000 Shs. 1,560.00 FORWARD $ 35,360.00 $ 29,990.00 - 10 - RECEIPTS OF INCOME (cont'd) FORWARD $ 35,360.00 $ 29,990.00 General Electric Co. (cont'd) 01/17/05 Dividend 12,000 Shs. 1,560.00 04/17/05 Dividend 12,000 Shs. 1,560.00 07/17/05 Dividend 12,000 Shs. 1,560.00 10/17/05 Dividend 12,000 Shs. 1,560.0041,600.00 General Motors Corp. 01/06/01 Dividend 34,000 Shs. $ 1,700.00 04/06/01 Dividend 34,000 Shs. 1,700.00 07/06/01 Dividend 34,000 Shs. 1,700.00 10/06/01 Dividend 34,000 Shs. 1,700.006,800.00 Int'l Business Machines Corp. 03/04/01 Dividend 15,000 Shs. $ 1,950.00 06/04/01 Dividend 15,000 Shs. 1,950.00 09/04/01 Dividend 15,000 Shs. 1,950.00 12/04/01 Dividend 15,000 Shs. 1,950.00 03/04/02 Dividend 15,000 Shs. 1,950.00 06/04/02 Dividend 15,000 Shs. 1,950.00 09/04/02 Dividend 15,000 Shs. 1,950.00 12/04/02 Dividend 15,000 Shs. 1,950.00 03/04/03 Dividend 15,000 Shs. 1,950.00 06/04/03 Dividend 15,000 Shs. 1,950.00 09/04/03 Dividend 15,000 Shs. 1,950.00 12/04/03 Dividend 15,000 Shs. 1,950.00 03/04/04 Dividend 15,000 Shs. 1,950.00 06/04/04 Dividend 15,000 Shs. 1,950.00 09/04/04 Dividend 15,000 Shs. 1,950.00 12/04/04 Dividend 15,000 Shs. 1,950.00 03/04/05 Dividend 15,000 Shs. 1,950.00 06/04/05 Dividend 15,000 Shs. 1,950.00 09/04/05 Dividend 15,000 Shs. 1,950.00 12/04/05 Dividend 15,000 Shs. 1,950.0039,000.00 Microsoft Corp 02/08/01 Dividend 20,000 Shs. $ 2,600.00 05/08/01 Dividend 20,000 Shs. 2,600.00 08/08/01 Dividend 20,000 Shs. 2,600.00 11/08/01 Dividend 20,000 Shs. 2,600.00 FORWARD $ 10,400.00 $ 117,390.00 - 11 - RECEIPTS OF INCOME (cont'd) FORWARD $ 10,400.00 $ 117,390.00 Microsoft Corp (cont'd) 02/08/02 Dividend 20,000 Shs. 2,600.00 05/08/02 Dividend 20,000 Shs. 2,600.00 08/08/02 Dividend 20,000 Shs. 2,600.00 11/08/02 Dividend 20,000 Shs. 2,600.00 02/08/03 Dividend 20,000 Shs. 2,600.00 05/08/03 Dividend 20,000 Shs. 2,600.00 08/08/03 Dividend 20,000 Shs. 2,600.00 11/08/03 Dividend 20,000 Shs. 2,600.00 02/08/04 Dividend 20,000 Shs. 2,600.00 05/08/04 Dividend 20,000 Shs. 2,600.00 08/08/04 Dividend 20,000 Shs. 2,600.00 11/08/04 Dividend 20,000 Shs. 2,600.00 02/08/05 Dividend 20,000 Shs. 2,600.00 05/08/05 Dividend 20,000 Shs. 2,600.00 08/08/05 Dividend 20,000 Shs. 2,600.00 11/08/05 Dividend 20,000 Shs. 2,600.0052,000.00 U.S. Treasury Bond, 3% due 10/01/2003 04/10/01 Interest $500,000 $ 7,500.00 10/10/01 Interest $500,000 7,500.00 04/10/02 Interest $500,000 7,500.00 10/10/02 Interest $500,000 7,500.00 04/10/03 Interest $500,000 7,500.00 10/01/03 Interest $500,000 7,500.0045,000.00 U.S. Treasury Bond, 3.5% due 01/01/2009 01/06/03 Interest $500,000 $ 8,750.00 07/06/03 Interest $500,000 8,750.00 01/06/04 Interest $500,000 8,750.00 07/06/04 Interest $500,000 8,750.00 01/06/05 Interest $500,000 8,750.00 07/06/05 Interest $500,000 8,750.0052,500.00 Upstanding Trust Company Money Market 02/01/01 Interest $ 1,375.12 03/01/01 Interest 1,122.22 04/01/01 Interest 1,253.22 05/01/01 Interest 998.32 FORWARD $ 4,748.88 $ 266,890.00 - 12 - RECEIPTS OF INCOME (cont'd) FORWARD $ 4,748.88 $ 266,890.00 Upstanding Trust Company Money Market (cont'd) 06/01/01 Interest 955.67 07/01/01 Interest 996.22 08/01/01 Interest 922.87 09/01/01 Interest 498.80 10/01/01 Interest 785.32 11/01/01 Interest 811.32 12/01/01 Interest 800.20 01/01/02 Interest 1,795.60 02/01/02 Interest 1,567.22 03/01/02 Interest 1,223.00 04/01/02 Interest 1,119.00 05/01/02 Interest 1,223.00 06/01/02 Interest 1,001.75 07/01/02 Interest 1,301.75 08/01/02 Interest 901.75 09/01/02 Interest 1,002.34 10/01/02 Interest 1,212.34 11/01/02 Interest 1,022.34 12/01/02 Interest 955.66 01/01/03 Interest 1,101.00 02/01/03 Interest 1,122.00 03/01/03 Interest 1,121.00 04/01/03 Interest 1,133.00 05/01/03 Interest 1,119.00 06/01/03 Interest 1,122.00 07/01/03 Interest 1,211.00 08/01/03 Interest 1,201.00 09/01/03 Interest 1,233.00 10/01/03 Interest 1,241.00 11/01/03 Interest 1,222.00 12/01/03 Interest 1,234.00 01/01/04 Interest 1,112.00 02/01/04 Interest 1,122.00 03/01/04 Interest 1,111.00 04/01/04 Interest 950.00 05/01/04 Interest 1,003.00 06/01/04 Interest 996.00 07/01/04 Interest 1,099.00 08/01/04 Interest 1,101.00 09/01/04 Interest 993.00 10/01/04 Interest 897.00 FORWARD $ 49,289.03 $ 266,890.00 - 13 - RECEIPTS OF INCOME (cont'd) FORWARD $ 49,289.03 $ 266,890.00 Upstanding Trust Company Money Market (cont'd) 11/01/04 Interest 1,022.00 12/01/04 Interest 998.00 01/01/05 Interest 904.00 02/01/05 Interest 997.00 03/01/05 Interest 1,022.00 04/01/05 Interest 1,012.00 05/01/05 Interest 957.00 06/01/05 Interest 1,040.00 07/01/05 Interest 1,021.00 08/01/05 Interest 1,012.00 09/01/05 Interest 1,066.00 10/01/05 Interest 921.00 11/01/05 Interest 991.00 12/01/05 Interest 1,010.0063,262.03 Vanguard Long Term Bond Fund 02/04/02 Dividend 66,500 Shs. $ 3,755.00 03/04/02 Dividend 66,500 Shs. 3,821.00 04/04/02 Dividend 66,500 Shs. 3,966.00 05/04/02 Dividend 66,500 Shs. 3,884.00 06/04/02 Dividend 66,500 Shs. 3,892.00 07/04/02 Dividend 66,500 Shs. 3,921.00 08/04/02 Dividend 66,500 Shs. 3,866.00 09/04/02 Dividend 66,500 Shs. 3,904.00 10/04/02 Dividend 66,500 Shs. 3,916.00 11/04/02 Dividend 66,500 Shs. 3,924.00 12/04/02 Dividend 66,500 Shs. 3,911.00 01/04/03 Dividend 66,500 Shs. 3,922.00 02/04/03 Dividend 66,500 Shs. 3,916.00 03/04/03 Dividend 66,500 Shs. 3,945.00 04/04/03 Dividend 66,500 Shs. 3,941.00 05/04/03 Dividend 66,500 Shs. 3,933.00 06/04/03 Dividend 66,500 Shs. 3,922.00 07/04/03 Dividend 66,500 Shs. 3,922.00 08/04/03 Dividend 66,500 Shs. 3,966.00 09/04/03 Dividend 66,500 Shs. 3,961.00 10/04/03 Dividend 66,500 Shs. 3,955.00 11/04/03 Dividend 66,500 Shs. 3,960.00 12/04/03 Dividend 66,500 Shs. 3,962.00 01/04/04 Dividend 66,500 Shs. 3,855.00 FORWARD $ 93,920.00 $ 330,152.03 - 14 - RECEIPTS OF INCOME (cont'd) FORWARD $ 93,920.00 $ 330,152.03 Vanguard Long Term Bond Fund (cont'd) 02/04/04 Dividend 66,500 Shs. 3,801.00 03/04/04 Dividend 66,500 Shs. 3,812.00 04/04/04 Dividend 66,500 Shs. 3,790.00 05/04/04 Dividend 66,500 Shs. 3,780.00 06/04/04 Dividend 66,500 Shs. 3,781.00 07/04/04 Dividend 66,500 Shs. 3,766.00 08/04/04 Dividend 66,500 Shs. 3,758.00 09/04/04 Dividend 66,500 Shs. 3,741.00 10/04/04 Dividend 66,500 Shs. 3,722.00 11/04/04 Dividend 66,500 Shs. 3,716.00 12/04/04 Dividend 56,500 Shs. 3,157.00 01/04/05 Dividend 56,500 Shs. 3,044.00 02/04/05 Dividend 56,500 Shs. 3,019.00 03/04/05 Dividend 56,500 Shs. 3,044.00 04/04/05 Dividend 56,500 Shs. 3,115.00 05/04/05 Dividend 56,500 Shs. 3,111.00 06/04/05 Dividend 56,500 Shs. 3,099.00 07/04/05 Dividend 56,500 Shs. 3,111.00 08/04/05 Dividend 56,500 Shs. 3,116.00 09/04/05 Dividend 56,500 Shs. 3,115.00 10/04/05 Dividend 56,500 Shs. 3,122.00 11/04/05 Dividend 56,500 Shs. 3,132.00 12/04/05 Dividend 56,500 Shs. 3,121.00171,893.00 Vanguard S&P 500 Index Fund 04/05/02 Dividend 9,500 Shs. $ 3,756.00 07/05/02 Dividend 9,500 Shs. 3,922.00 10/05/02 Dividend 9,500 Shs. 4,015.00 01/05/03 Dividend 9,500 Shs. 4,111.00 04/05/03 Dividend 9,500 Shs. 4,221.00 07/05/03 Dividend 9,500 Shs. 4,234.00 10/05/03 Dividend 9,500 Shs. 4,311.00 01/05/04 Dividend 9,500 Shs. 4,223.00 04/05/04 Dividend 5,500 Shs. 4,111.00 07/05/04 Dividend 5,500 Shs. 4,005.00 10/05/04 Dividend 5,500 Shs. 4,055.00 01/05/05 Dividend 5,500 Shs. 4,120.00 04/05/05 Dividend 5,500 Shs. 4,234.00 07/05/05 Dividend 5,500 Shs. 4,001.00 10/05/05 Dividend 5,500 Shs. 4,011.0061,330.00 FORWARD $ 563,375.03 - 15 - RECEIPTS OF INCOME (cont'd) FORWARD $ 563,375.03 Xerox Corporation 04/05/03 Dividend 50,000 Shs. $ 2,500.00 07/05/03 Dividend 50,000 Shs. 2,500.00 10/05/03 Dividend 50,000 Shs. 2,500.00 01/05/04 Dividend 50,000 Shs. 2,500.00 04/05/04 Dividend 50,000 Shs. 2,500.00 07/05/04 Dividend 50,000 Shs. 2,500.00 10/05/04 Dividend 50,000 Shs. 2,500.00 01/05/05 Dividend 50,000 Shs. 2,500.00 04/05/05 Dividend 50,000 Shs. 2,500.00 07/05/05 Dividend 50,000 Shs. 2,500.00 10/05/05 Dividend 50,000 Shs. 2,500.0027,500.00 Transfers from Principal to Income to Satisfy Unitrust Payouts 12/30/01 $ 471,000.00 12/30/02 448,000.00 12/30/03 424,000.00 12/30/04 400,000.00 12/30/05 384,000.002,127,000.00 TOTAL RECEIPTS OF INCOME $ 2,717,875.03 =============== - 16 - DISBURSEMENTS OF INCOME Upstanding Trust Company Trustee's Fees 03/30/01 $ 5,609.00 06/30/01 5,715.00 09/30/01 5,823.00 12/30/01 5,912.00 03/30/02 6,010.00 06/30/02 6,211.00 09/30/02 6,055.00 12/30/02 6,234.00 03/30/03 6,311.00 06/30/03 6,312.00 09/30/03 6,322.00 12/30/03 6,335.00 03/30/04 6,431.00 06/30/04 6,455.00 09/30/04 6,459.00 12/30/04 6,466.00 03/30/05 5,340.00 06/30/05 5,342.00 09/30/05 5,351.00 12/30/05 5,366.00$ 120,059.00 TOTAL DISBURSEMENTS OF INCOME $ 120,059.00 ============== - 17 - DISTRIBUTIONS OF INCOME TO BENEFICIARIES 2001 Unitrust Payouts Jane Doe 03/30/01 $ 66,556.25 06/30/01 66,556.25 09/30/01 66,556.25 12/30/01 66,556.25$ 266,225.00 John Doe 03/30/01 $ 66,556.25 06/30/01 66,556.25 09/30/01 66,556.25 12/30/01 66,556.25266,225.00$ 532,450.00 2002 Unitrust Payouts Jane Doe 03/30/02 $ 67,378.02 06/30/02 67,378.02 09/30/02 67,378.02 12/30/02 67,378.02$ 269,512.08 John Doe 03/30/02 $ 67,378.02 06/30/02 67,378.02 09/30/02 67,378.02 12/30/02 67,378.02269,512.08539,024.16 2003 Unitrust Payouts Jane Doe 03/30/03 $ 68,486.86 06/30/03 68,486.87 09/30/03 68,486.86 12/30/03 68,486.87$ 273,947.46 John Doe 03/30/03 $ 68,486.87 06/30/03 68,486.86 09/30/03 68,486.87 12/30/03 68,486.86273,947.46547,894.92 FORWARD $ 1,619,369.08 - 18 - DISTRIBUTIONS OF INCOME TO BENEFICIARIES (cont'd) FORWARD $ 1,619,369.08 2004 Unitrust Payouts Jane Doe 03/30/04 $ 62,709.55 06/30/04 62,709.55 09/30/04 62,709.55 12/30/04 62,709.55$ 250,838.20 John Doe 03/30/04 $ 62,709.55 06/30/04 62,709.55 09/30/04 62,709.55 12/30/04 62,709.55250,838.20501,676.40 2005 Unitrust Payouts Jane Doe 03/30/05 $ 59,509.14 06/30/05 59,509.14 09/30/05 59,509.14 12/30/05 59,509.14$ 238,036.56 John Doe 03/30/05 $ 59,509.14 06/30/05 59,509.14 09/30/05 59,509.14 12/30/05 59,509.14238,036.56476,073.12 TOTAL DISTRIBUTIONS OF INCOME TO BENEFICIARIES $ 2,597,118.60 =============== - 19 - INCOME BALANCE ON HAND FIDUCIARY VALUE AT ACQUISITION 12/31/2005 VALUE Upstanding Trust Company Money Market $ 697.43 $ 697.43 TOTAL INCOME BALANCE ON HAND $ 697.43 $ 697.43 ================== ================== - 20 - UNITRUST STATEMENT Fair Market Value as of 01/01/2001 MARKET VALUE Bonds $500,000 AT&T 4.25% due 07/01/2001 $ 490,000.00 $500,000 US Treasury Bond 3% due 10/01/2003 489,000.00 Common Stocks 25,000 Shs. Exxon Mobil Corp. 2,125,000.00 22,000 Shs. General Electric Co. 1,320,000.00 34,000 Shs. General Motors Corp. 2,550,000.00 15,000 Shs. Int'l Business Machines Corp. 1,875,000.00 20,000 Shs. Microsoft Corp 1,400,000.00 $ 10,249,000.00 Cash Principal Cash 400,000.00 Income Cash .00 Fair Market Value $ 10,649,000.00 Payout Rate 5.000% 2001 Unitrust Payout $ 532,450.00 Number of Payments per Year 4 Installment Amount $ 133,112.50 Paid as Follows: Jane Doe 50.000% $ 66,556.25 John Doe 50.000% $ 66,556.25 - 21 - UNITRUST STATEMENT Fair Market Value as of 01/01/2002 MARKET VALUE Bonds $500,000 US Treasury Bond 3% due 10/01/2003 $ 488,965.00 Common Stocks 25,000 Shs. Exxon Mobil Corp. 2,460,000.00 22,000 Shs. General Electric Co. 1,461,321.00 34,000 Shs. General Motors Corp. 2,316,000.00 15,000 Shs. Int'l Business Machines Corp. 2,001,020.00 20,000 Shs. Microsoft Corp 1,675,032.00 $ 10,402,338.00 Cash Principal Cash 377,445.00 Income Cash 700.28 Fair Market Value $ 10,780,483.28 Payout Rate 5.000% 2002 Unitrust Payout $ 539,024.16 Number of Payments per Year 4 Installment Amount $ 134,756.04 Paid as Follows: Jane Doe 50.000% $ 67,378.02 John Doe 50.000% $ 67,378.02 - 22 - UNITRUST STATEMENT Fair Market Value as of 01/01/2003 MARKET VALUE Bonds $500,000 US Treasury Bond 3% due 10/01/2003 $ 491,253.00 $500,000 US Treasury Bond 3.5% due 01/01/2009 498,765.00 Common Stocks 20,000 Shs. Exxon Mobil Corp. 1,853,265.00 12,000 Shs. General Electric Co. 975,895.00 15,000 Shs. Int'l Business Machines Corp. 1,991,897.00 20,000 Shs. Microsoft Corp 1,999,787.00 50,000 Shs. Xerox Corporation 797,841.00 Mutual Funds 66,500 Shs. Vanguard Long Term Bond Fund 1,002,122.00 9,500 Shs. Vanguard S&P 500 Index Fund 1,101,210.00 $ 10,712,035.00 Cash Principal Cash 245,478.00 Income Cash 384.87 Fair Market Value $ 10,957,897.87 Payout Rate 5.000% 2003 Unitrust Payout $ 547,894.89 Number of Payments per Year 4 Installment Amount $ 136,973.72 FORWARD $ 136,973.72 - 23 - UNITRUST STATEMENT (cont'd) FORWARD $ 136,973.72 Paid as Follows: Jane Doe 50.000% $ 68,486.86 John Doe 50.000% $ 68,486.86 - 24 - UNITRUST STATEMENT Fair Market Value as of 01/01/2004 MARKET VALUE Bonds $500,000 US Treasury Bond 3.5% due 01/01/2009 $ 497,888.00 Common Stocks 20,000 Shs. Exxon Mobil Corp. 1,911,221.00 12,000 Shs. General Electric Co. 954,668.00 15,000 Shs. Int'l Business Machines Corp. 1,801,254.00 20,000 Shs. Microsoft Corp 1,852,325.00 50,000 Shs. Xerox Corporation 766,897.00 Mutual Funds 66,500 Shs. Vanguard Long Term Bond Fund 997,898.00 9,500 Shs. Vanguard S&P 500 Index Fund 988,787.00 $ 9,770,938.00 Cash Principal Cash 267,098.00 Income Cash -4,508.05 Fair Market Value $ 10,033,527.95 Payout Rate 5.000% 2004 Unitrust Payout $ 501,676.40 Number of Payments per Year 4 Installment Amount $ 125,419.10 FORWARD $ 125,419.10 - 25 - UNITRUST STATEMENT (cont'd) FORWARD $ 125,419.10 Paid as Follows: Jane Doe 50.000% $ 62,709.55 John Doe 50.000% $ 62,709.55 - 26 - UNITRUST STATEMENT Fair Market Value as of 01/01/2005 MARKET VALUE Bonds $500,000 US Treasury Bond 3.5% due 01/01/2009 $ 498,656.00 Common Stocks 20,000 Shs. Exxon Mobil Corp. 1,899,562.00 12,000 Shs. General Electric Co. 932,221.00 15,000 Shs. Int'l Business Machines Corp. 1,755,696.00 20,000 Shs. Microsoft Corp 1,856,665.00 50,000 Shs. Xerox Corporation 766,545.00 Mutual Funds 56,500 Shs. Vanguard Long Term Bond Fund 847,838.00 5,500 Shs. Vanguard S&P 500 Index Fund 544,500.00 $ 9,101,683.00 Cash Principal Cash 424,698.00 Income Cash -4,918.45 Fair Market Value $ 9,521,462.55 Payout Rate 5.000% 2005 Unitrust Payout $ 476,073.13 Number of Payments per Year 4 Installment Amount $ 119,018.28 FORWARD $ 119,018.28 - 27 - UNITRUST STATEMENT (cont'd) FORWARD $ 119,018.28 Paid as Follows: Jane Doe 50.000% $ 59,509.14 John Doe 50.000% $ 59,509.14 UPSTANDING TRUST COMPANY By________________________________________ Walter Trust, Vice President Trustee under Deed dated January 1, 2001 of John Doe and Jane Doe, Settlors - 28 - VERIFICATION WALTER TRUST, Vice President of Upstanding Trust Company, Trustee under Deed dated January 1, 2001 of JOHN DOE and JANE DOE, Settlors, hereby declares under oath that said Trustee has fully and faithfully discharged the duties of its office; that the foregoing First Account is true and correct and fully discloses all significant transactions occurring during the accounting period; that all known claims against the trust have been paid in full; that, to his knowledge, there are no claims now outstanding against the Trust; and that no taxes are presently due from the Trust on account of its status as a charitable remainder unitrust. This statement is made subject to penalties of 18 Pa. C.S.A. Section 4904 relating to unsworn falsification to authorities. _____________________________ Walter Trust Dated:________________________________ - 29 -