Stephen J. Palumbo v. Gregory M. Palumbo

Court of Chancery of Delaware·Decided August 10, 2026·No. C.A. No. 2024-0661-DH·Published

Opinion

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

STEPHEN J. PALUMBO and LORI A. ) PALUMBO, as Co-Trustees of the ) Carmen John Palumbo Revocable Trust ) Dated October 30, 1997, as completely ) amended February 4, 2023, )

) C.A. No. 2024-0661-DH

Petitioner, )

)

v. )

)

GREGORY M. PALUMBO, )

)

Respondent. )

)

REPORT

Report: August 10, 2026 Date Submitted: April 23, 2026

Brian J. Ferry, Ferry Joseph, P.A., Wilmington, DE; Attorney for Petitioners Stephen J. Palumbo and Lori A. Palumbo.

Gregory M. Palumbo; Pro se.

HUME, IV, M.

This case involves the Plaintiff siblings’ attempt to remove their Respondent

brother as a co-trustee and his cross-request for trust accounting. Boiling beneath

the surface is an intense personal dislike between the parties. The waves of discord

crested the parties’ interpersonal relationship and made their way into the trial and

post-trial submissions. The self-represented Respondent, a disbarred attorney,

allowed his animus for his siblings to take charge of his better judgment. His

bitterness triggered acts in bad faith during and after trial. This opinion resolves

Petitioners’ request for removal of a trustee and Respondent’s counter-petition for

accounting.

I. BACKGROUND 1 On October 30, 1997, Carmen John Palumbo (“Carmen” or “Decedent”)

entered a Revocable Trust Agreement, naming himself as settlor and trustee.2 Three

years later, he entered a First Supplemental Agreement.3 Finally, in 2003, Carmen

1 The facts set forth herein were proven by a preponderance of the evidence at trial. Factual citations are to: the Pre-Trial Stipulation and Order (“PTO”), D.I. 54; Resp’t’s Draft Joint Pre-Trial Stipulation and Proposed Order (“RPTO”), D.I. 55; Pet’rs’ Post-Trial Summation (“PPTB”), D.I. 68; Resp’t’s Post Trial Brief (“RPTB”), D.I. 86; Stephen J. Palumbo and Lori A. Palumbo’s Trial Witness Identification (“JX”), D.I. 32; and Trial Transcript (“Tr.”), D.I, 67. Additional Citations are to Pet’rs’ Amended Petition for Removal of Co- Trustee (“Compl.”), D.I. 9; Palumbo, Gregory Resp’t’s Answer to Petitioners Amended Petition for Removal of Co Trustee (“Resp’t’s Ans.”), D.I. 11; and Pet’rs’ Answer to Respondent’s Petition for Accounting (“Pet’rs’ Ans.”), D.I. 15. 2 PTO ¶ 3; Compl., ¶ 4.

3 PTO ¶ 4; Compl., ¶ 4.

executed the Complete Amendment to Carmen John Palumbo Revocable Trust

Agreement (“2003 Amended Trust”).4 Carmen had three children: Stephen J.

Palumbo (“Stephen”), Lori A. Palumbo (“Lori”), and Gregory M. Palumbo

(“Gregory”).5 The 2003 Amended Trust named Carmen’s three children as equal

beneficiaries of the residual trust assets. 6 Additionally, the 2003 Amended Trust

named Gregory, Stephen, and Lori as successor trustees should Carmen no longer

be able to serve.7

In 2012, Carmen executed a Supplemental Amendment to the trust, which

directed all of Carmen’s stock and interest in Palumbo Car Care Center, Inc. to

Stephen.8

Gregory was an attorney and member of the Pennsylvania bar. 9 In 2018, the

Supreme Court of Pennsylvania placed him on temporary suspension.10 Five years

4 PTO ¶ 5; Compl., Ex. A.

5 Compl., ¶¶ 1–3, 5. For ease of comprehension I refer to the children by their first names and intend no disrespect to the parties. 6 Id. at Ex. A at B.(2); PTO ¶ 7.

7 PTO ¶ 6; Compl., Ex. A, Art. 12.

8 PTO ¶ 9.

9 Id. at ¶ 11.

10 Id.

later, in 2023, Gregory was convicted of multiple felonies.11 Several months

following, he submitted his unconditional resignation from the Pennsylvania bar,

and the Supreme Court disbarred him in 2024.12

On May 3, 2022, Carmen passed away. 13 Immediately following, Stephen,

Lori, and Gregory assumed their roles as trustees over the 2003 Amended Trust.14

A. Before Decedent’s death, Gregory forges documents related to the estate.

Stephen testified that even before Decedent passed away, Gregory committed

misconduct against Decedent and the prospective estate. In September 2021,

Stephen filed for emergency temporary guardianship over Decedent. 15 Stephen

explained that Gregory abused his Durable Power of Attorney for Decedent to

misappropriate funds, incur $11,000 in unauthorized charges on Decedent’s

11 PTO ¶ 13. Additionally, Gregory stipulated at trial to the existence of his “criminal issues in Pennsylvania.” Tr. 44:06–11. The Complaint alleges that on September 6, 2023, Gregory was found guilty of six discrete criminal offenses. See Compl. ¶ 9. Gregory’s Answer supplemented that “all offenses other than robbery and carrying a firearm . . . were dismissed at sentencing due to the doctrine of merger.” Resp’t’s Ans. ¶ 9. 12 PTO ¶¶ 14–15; see JX 5 (Pennsylvania Supreme Court temporary suspension order).

13 PTO ¶ 10; Compl. ¶ 7; JX 6 (Pennsylvania Supreme Court disbarment order).

14 “Q: So fast-forward to today. Who are the three trustees today? A: Greg, Steve, and Lori.” Tr. 24:06–19.

15 JX 16 (Emergency Guardianship Motion in the Circuit Court for Cecil County); Tr. 24:22–25:03.

American Express Card, and withdraw funds from Decedent’s bank account for

Gregory’s “own personal use.”16

In the course of the emergency guardianship proceedings, Lori challenged the

validity of “a number of documents, including financial and medical powers of

attorney presented by Gregory Palumbo.” 17 The Maryland Court heard evidence

and found that these documents are “invalid and of no force or effect . . . .”18 The

Maryland Court adopted in full the findings of an independent investigator. 19

The investigator’s report details numerous allegations by all three siblings.

Lori alleged that Gregory forged the Durable POA and Healthcare directive, noting

the Decedent’s incapacity to sign during the previous two years. 20 Lori accused

Gregory of emotional and financial abuse, such as purchasing an automobile for

Decedent when Decedent could no longer drive, then retaining that vehicle and

allegedly committing crimes in the vehicle. 21 She contended that Gregory stole

16 JX 16, ¶¶ 10–15; Tr. 25:06–10.

17 JX 14 (Order Regarding Validity of Documents and Jurisdiction for Guardianship Case).

18 Id.

19 Id.; see JX 19 (Report of Independent Investigator); Tr. 32:10–20.

20 JX 19, 3.

21 Id.

medication from Decedent, poisoned the proverbial well against Stephen, and

emotionally manipulated Decedent to give Gregory money. 22

Stephen testified that Decedent’s initial Advance Medical Directive named

both Stephen and Gregory as medical decision makers, and that he was unaware of

the amended Power of Attorney and Advance Medical Directive until after

Decedent’s stroke in 2021. 23 Stephen also testified that Gregory proceeded to take

“nearly $80,000” out of Decedent’s company account in the fall of 2021, after

Decedent had suffered a stroke and “was incapacitated.” 24

Gregory alleged in response that Stephen abused and neglected Decedent,

plotted to remove Decedent from Decedent’s business, and that Stephen’s neglect

resulted in Decedent falling and suffering from a brain hemorrhage and stroke.25

Gregory alleged that Lori had minimal contact with Decedent, only seeing him a

handful of times per year, and “often cancelling planned visits . . . caus[ing]

[Decedent] depression.” 26

22 Id.

23 Id. at 6.

24 Tr. 25:13–16.

25 Id. at 5.

26 Id.

The investigator concluded that the Durable Powers of Attorney (both

executed in 2019), and Appointment of Agent and Power of Attorney (including an

Advance Medical Directive) should be “viewed with skepticism by the Court absent

compelling testimony by parties familiar with the document and its execution.”27

B. Prior to Decedent’s death, Gregory wrongfully took money from Decedent and his businesses.

Both Lori and Stephen testified that Gregory misappropriated their father’s

money prior to his death. Lori estimated that Gregory expended $15,000–$20,000

per month on credit cards belonging to Decedent’s store. 28 Gregory also allegedly

took $275,000 from Decedent’s UBS account. 29

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Stephen J. Palumbo v. Gregory M. Palumbo, (Del. Ct. App. 2026).

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