Litigation
In June 2012, the state of Delaware filed suit against the Trust, claiming the trustees were not following duPont's intentions and Delaware was not receiving their proper yearly distribution. Furthermore, the $72 million renovation of the Delaware Mansion and Gardens should not have been included in Delaware’s share of foundation distributions.
For several years, the trust had been making plans to split the $4 billion asset portfolio into two segments, with a small portion going to a taxable annuitants’ trust for individuals named in duPont's will, and the majority of assets remaining in the tax-exempt charitable trust. Doing so would allow the foundation to avoid the yearly assessment of several million dollars in foreign taxes. The Delaware lawsuit may delay those plans until that litigation is resolved.
Read more about this topic: Alfred I. Du Pont Testamentary Trust