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decedent’s estate both resided in the Commonwealth of
Pennsylvania at the time the petition in this case was filed.
General Background
Decedent was born on February 11, 1911. Decedent later
married Phyllis duPont (Mrs. Schutt), the daughter of Eugene E.
duPont (Mr. duPont). Decedent and Mrs. Schutt had four children,
each of whom subsequently married: Sarah Schutt Harrison,
Caroline Schutt Brown, Katherine D. Schutt Streitweiser, and
Charles P. Schutt, Jr. Decedent’s son Charles P. Schutt, Jr.,
and his son-in-law Henry I. Brown III are the co-executors of his
estate. Each of decedent’s four children had children of his or
her own, such that decedent and Mrs. Schutt were survived by 14
grandchildren.
Historically, a significant portion of the Schutt family
wealth has been invested in, and a concomitant significant and
steady portion of the family income has been generated by, an
interest in E. I. du Pont de Nemours and Company (DuPont) stock
and Phillips Petroleum Company stock initially obtained from
Mr. duPont. Throughout the decades, Mr. duPont, decedent, and
Mrs. Schutt have, in the administration of these and other
holdings, established a number of trusts for the benefit of
themselves and/or their issue.2 In the mid-1980s, the Schutt
2 Various trusts directly pertinent to the instant
litigation are described in detail infra in text. Decedent
(continued...)
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