Receipt, Release, Refunding and Indemnification AgreementThe undersigned, a beneficiary entitled to receive one-fifth of the residuary estate of the Estate of Joseph B. Dunn, Deceased, does hereby:
1. Acknowledge that I have examined and approve the attached First and Final Account of Jane R. Dunn, Executrix, with the same force and effect as if such account had been filed with, and audited, adjudicated, and confirmed absolutely by, the Philadelphia Orphans' Court Division;2. Waive the filing of the Account;3. Acknowledge receipt of the one-fifth share of the residuary estate in the amount of $15,000 as shown in the Account;4. Release Jane R. Dunn, both individually and in her capacity as Executrix of the Will of Joseph B. Dunn, Deceased, and her heirs, successors, and assigns, from all liability that she may have by reason of her administration of the estate;5. To the extent of the distribution received, agree to refund to Executrix any portion of the distribution to which I am not properly entitled even if distributed through negligence, to indemnify her for claims made against her as Executrix, and to reimburse her for all expenses and costs incurred in connection with any such claims; and6. Declare that this instrument shall be governed by the law of Pennsylvania and shall be legally binding upon me and upon my heirs, successors and assigns. In Witness Whereof, I have hereunto set my hand and seal this day of
Witness John Dunn Witness
Counsel should consider whether it is appropriate to settle an estate or trust on the basis of an agreement such as the foregoing. Although this process may be less demanding of the services of counsel and more quickly accomplished, the protection afforded the fiduciary is considerably less than a Court filing. Longer, more complete forms of such an agreement, with an accounting and appropriate exhibits may be used.