-7-
Decedent’s and Mrs. Schutt’s daughter Katherine D. Schutt
Streitweiser died of leukemia on March 27, 1993. At that time,
she was the current beneficiary of Trusts 3044-3 and 3044-7. In
accordance with the provisions of those trusts, the assets held
therein were distributed outright to her children.
Trust 2064
Mrs. Schutt’s death was also significant with respect to the
structure of two additional trusts directly pertinent to this
litigation. By means of a trust agreement dated October 6, 1934,
between Mr. duPont and WTC, Mr. duPont conferred upon Mrs. Schutt
a limited power of appointment over what is referred to as Trust
2064. Under her will dated December 1, 1988, as amended by a
first codicil dated January 25, 1989, Mrs. Schutt exercised this
power of appointment. These documents provided that the property
subject to the power was to be held in trust by WTC. At
Mrs. Schutt’s death and after the distribution of $1,000 to each
of her surviving children, the balance of the trust was to be
divided into shares, with one share set aside for each surviving
grandchild and one share set aside for the then-living issue (as
a group) of any grandchild who predeceased her but left surviving
issue.
Any share set aside for a predeceased grandchild was to be
distributed free of trust to that grandchild’s issue, per
stirpes, subject to the minor’s trust provision set forth in the
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