Scaife Heirs Accuse Trustees Of Abusing Discretion

The children of late publisher and billionaire Richard Mellon Scaife have filed formal objections to the way a contested trust fund has been administered.  The heirs are setting the stage for an ongoing legal battle.  David and Jennie Scaife are objecting to the depletion of the trust fund, alleging that the $369.1 million in payouts, taxes, and fees amounted to an “abuse of discretion” by the trustees.  The two children are going to be remainder beneficiaries of the 80-year-old trust fund. 

See Rich Lord, Scaife heirs file objections to trust fund expenditures, Pittsburgh Post-Gazette, June 10, 2015.