Legal Question in Wills and Trusts in Pennsylvania

Its very difficult to answer you without seeing the whole document and knowing the context.

Jurisdiction - by itself, I don't know precisely what this means. I understand what the word means, its just that I don't know the context. Usually, its used in connection with a lawsuit or in an agreement indicating that a legal action can only be brought in a certain place. In regard to a lawsuit, the court has no power to hear a case unless it has jurisdiction over the subject matter, the thing involved in the lawsuit (like land) or the parties.

The next paragraph indicates that it is part of a larger document called a release. A release is typically entered into by the parties to a a dispute. The parties have resolved their dispute, either before or after litigation, in some way. Typically, one party agrees to pay the other money in exchange for the other party's dismissal of a lawsuit or the other party agreeing to forego a lawsuit.

The release says it is governed by the laws of Pennsylvania. I don't know who has executed the release, but in addition to the parties who signed it, it applies equally to the beneficiary. If the beneficiary would pass away, it would also apply to the beneficiary's heirs (whoever they may be), the beneficiary's personal representatives or anyone to whom the beneficiary assigned his/her rights. So all of these people would have to abide by the same terms of the release as if they had signed it. If a party who agreed to drop or dismiss any claims changed their mind and sued, then whoever was sued could file the release in court and use it as a defense. If the agreement was signed and then no money was paid, I suppose the document could also be used affirmatively to show that the parties reached an agreement and that one party reneged.