IMO: The Estate of Paulina duPont Dean

CourtCourt of Chancery of Delaware
DecidedJune 30, 2014
DocketC.A. 7430-ML
StatusPublished

This text of IMO: The Estate of Paulina duPont Dean (IMO: The Estate of Paulina duPont Dean) is published on Counsel Stack Legal Research, covering Court of Chancery of Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
IMO: The Estate of Paulina duPont Dean, (Del. Ct. App. 2014).

Opinion

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

IMO: ) THE ESTATE OF ) C.A. No. 7430-ML PAULINA duPONT DEAN )

MASTER‟S REPORT

Date Submitted: November 12, 2013 Draft Report: February 28, 2014 Exceptions Submitted: May 22, 2014 Final Report: June 30, 2014

Carl D. Neff, Esquire, of FOX ROTHSCHILD LLP, Wilmington, Delaware; Attorney for Petitioner.

James S. Green, Sr., Esquire and Jared T. Green, Esquire, of SEITZ VAN OGTROP & GREEN, P.A., Wilmington, Delaware; Attorneys for Respondent.

LEGROW, Master Two children of an elderly, wealthy woman are engaged in what threatens to be

only the opening act in a legal drama that may yet unfold between them. The questions

presented in this case are relatively simple: first, whether the respondent is entitled to an

accounting from the petitioner, who holds power of attorney for their mother, and second,

whether the attorney-in-fact is required to reimburse the respondent for expenses the

respondent incurred for his children‟s education. Overlaid on those discrete issues are a

complicated family history and the specter of looming disputes regarding transactions the

attorney-in-fact conducted on his mother‟s behalf.

For the reasons that follow, I conclude the respondent is entitled to a forensic

accounting of the transactions the attorney-in-fact conducted on his mother‟s behalf,

beginning on the date the power of attorney was executed. Nothing in the power of

attorney indicated its effectiveness would spring from a future event or contingency, and

the petitioner accepted his position as agent by exercising nearly complete control over

his mother‟s finances after the power of attorney was signed. I further conclude that the

respondent is entitled to reimbursement of educational expenses he incurred consistent

with his mother‟s past pattern of giving, which I attempt to define despite both parties‟

difficulty in articulating a coherent pattern to such reimbursement. What follows is my

post-trial final report.

1 BACKGROUND

These are the facts as I find them after trial. Although Paulina du Pont Dean

(“Paulina”) 1 and her estate are the subject of this case, she did not participate in this

action in any way. Now in her late eighties, Paulina was declared incompetent in 2009 2

and her son testified that her mental acumen has deteriorated steadily since that time.3

The parties to this action are Paulina‟s only two surviving children: William Kemble

Ketcham (“Kem”), who is the petitioner, and J.S. Dean Ketcham (“Dean”), who is the

respondent. Kem has three children, Paulina, Samuel, and Sara, and Dean has four

children, Jacob, Dougal, Reiver, and Idaho.

Kem and Dean are named in Paulina‟s will as the beneficiaries of her residuary

estate.4 Paulina resides in Tortola, BVI. In the late 1990s, Paulina opened two accounts

at Banco Popular in Tortola: an account ending in „919 (the “919 Account”) and an

account ending in „955 (the “955 Account”).5 Kem was a signatory on both accounts

from their creation.6 Paulina used the 955 Account to pay her own expenses, while Kem

used the 919 Account as a “holding account,” which he used to hold larger balances, pay

more significant expenses, fund various investments, and the like. The transactions in the

919 Account form much of the basis for the parties‟ dispute.

1 I use the parties‟ first names for the sake of clarity. No disrespect is intended. 2 Joint Trial Exhibit (hereinafter “JX”) 18. 3 In re Paulina du Pont Dean, C.A. No. 7430-ML (May 13, 2013) (TRIAL TRANSCRIPT) (hereinafter “Tr.”) at 103-04. 4 Joint Stipulation and Pretrial Order (hereinafter “Pre-Trial Order”) ¶ 2(e). 5 Tr. at 6-7. 6 Id. at 7-8. 2 Although both Kem and Dean reside in the United States, Kem maintains – or

maintained for a period of time – several business operations in Tortola. Among those

businesses is Tortola Home, LLC (“THL”). THL is a now-defunct construction finance

company established in 2003.7 Some documents indicate Paulina “invested” at least $3

million in THL between 2003 and 2008.8 The nature of those investments is not clear.

Although Paulina‟s assistant identified Paulina as one of three “shareholders” of THL,

Kem testified that there were no shares issued in THL, that only he and Paulina had an

interest in the company, that THL “only had debt,” and that nearly all of the debt was

held by Paulina. 9 THL is no longer operating, but it continues to maintain a bank

account, and funds in that account are used to pay Paulina‟s regular living expenses.10

Kem‟s explanation of this process is inconsistent. Although he testified at trial that he

regularly transferred money from Paulina‟s 919 Account to THL‟s account for the

purpose of paying Paulina‟s regular expenses,11 when asked why Paulina‟s expenses were

paid from THL instead of directly from her own accounts, Kem explained “it would go

into the books as basically a reduction of the money that she had contributed.”12 In other

words, THL already owed substantial debt to Paulina, and THL paid Paulina‟s expenses

to reduce that debt, but received additional contributions from Paulina to fund the

payment of expenses. A post-trial affidavit submitted by Kem offered a different

7 JX 14. 8 Id. 9 Tr. at 77-78. 10 Id. at 76-77, 94-95. 11 Id. at 91-92 12 Id. at 94-95. 3 explanation of how Paulina‟s expenses were paid: Kem claimed $1.5 million transferred

from the 919 Account to the 955 Account was for payment of Paulina‟s monthly

expenses, including “payroll, utilities, travel expenses when she traveled, and a live-in

nurse.”13

On October 26, 2004, Paulina executed a durable power of attorney in Delaware,

naming Kem as her attorney-in-fact (the “Power of Attorney”).14 Kem received a copy of

the Power of Attorney shortly thereafter, but claims he did not act as Paulina‟s agent

under the Power of Attorney until she was declared incompetent in 2009. Kem testified

that he had “no reason to have – use a Power of Attorney” before 2009, and he

maintained the document in his safe from 2004 to 2009.15 After she signed the Power of

Attorney, Paulina continued to write and sign checks in her own name and signed her

own tax returns.16 Kem also conceded, however, that very little changed even after he

began “acting” as Paulina‟s attorney-in-fact, except the “four or five times” he signed tax

returns and change of address forms on her behalf “in the last couple years.”17 Kem‟s

control over Paulina‟s funds did not meaningfully change after the Power of Attorney

was executed in 2004, nor did it change after he acknowledges “acting” as Paulina‟s

Power of Attorney in 2009. Kem‟s authority under the Power of Attorney includes

nearly total control over Paulina‟s finances, and – particularly relevant to this case – the

13 Aff. of William Kemble Ketcham in support of Petitioner‟s Post-Trial Reply Br. (hereinafter “Kem‟s Post-Trial Affidavit”) ¶ 1(j) and Ex. A. Dean‟s motion to strike this affidavit is addressed below. 14 JX 12; Pre-Trial Order ¶ 2(f). 15 Tr. at 16-17. 16 Id. at 20. 17 Id. at 19-20. 4 power to make gifts out of Paulina‟s property and on her behalf “to one or more of [her]

issue of whatever degree, including gifts to [Kem], in a manner consistent with

[Paulina‟s] past pattern of giving, in [Kem‟s] sole and absolute discretion.”18

In 2008, if not before, Dean began raising questions about his mother‟s financial

affairs. When he was not satisfied with answers he received from Kem, Dean went

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