Thouron Estates - READ ALL ABOUT IT!

This blockbuster Adjudication, written by Judge Mark L. Tunnell is 212 pages long, and deals with many issues, but very significantly, with the issue of the appropriateness of attorney, accountant and executor’s fees.  Judge Tunnell’s opinion is very thorough, very organized and very compelling.  Unfortunately it is too long to be printed in the Fiduciary Reporter.  But here is a pdf of the opinion for your reading enjoyment.  The Estate of Sir John Rupert Hunt Thouron (“Sir John”) was valued at $46 million,  the estate of his son John Julius Thouron (“Tiger”) was valued at $13 million.

Cite:  Chester County Orphans’ Court Case of Estate of John H. Thouron, Deceased, and Estate of John J. Thouron, Deceased, Nos. 1507-0230 and 1506-0305.  

To begin at the end, instead of the beginning, in Tiger's estate, the Executor Charles Norris was surcharged $753,0000 and the firm of Lamb McErlane PC was ordered to disgorge $135,882.

But hold onto your hat!   In the Sir John Estate, Executor Charles Norris was surcharged $5,672,999. Lamb McErlane was ordered to disgorge $4,351,310 in fees, and Norris and the Lamb firm were jointly surcharged $557,001.   Norris' surcharge included $1,023,311 of accounting firm Maillie LLP fees that were disallowed and charged to the executor.

Appeals have been filed in the Superior Court.

More to follow in next post.

 

 

 

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