-3- 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...)Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011