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greatest worry with respect to wealth dissipation centered on
outright distribution of assets to the beneficiaries of the
various WTC trusts. It is clear from the structures of the WTC
trusts involved that outright distribution created the single
largest risk to the perpetuation of a buy and hold philosophy,
and testimony confirmed decedent’s concern over a termination
situation. Because none of the events that would trigger such a
distribution turned on decedent’s own death, to call the
underlying motive testamentary is inappropriate.
Trust 2064, which contributed 10.346 percent of the DuPont
stock to Schutt I and 41.439 percent of the Exxon stock to Schutt
II, was to terminate, and the corpus was to be distributed free
of trust to decedent’s grandchildren, no later than when the
youngest grandchild turned 40. Notably, the health of both
decedent and his issue was irrelevant to this precipitating
event. According to the parties’ stipulations, decedent’s
youngest grandchild, Katherine D. Schutt, was 24 years of age at
the time of decedent’s 1999 death. The provisions of Trust 2064
would therefore dictate termination no later than the spring of
2015. Schutt I and II were structured to continue to 2048,
absent agreement to the contrary in accordance with limited
procedures set forth in the business trust indentures.
The Trust 3044 subtrusts, which in the aggregate contributed
42.310 percent of the DuPont stock to Schutt I and 9.099 percent
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