PNC Bank would have avoided waiver had the company’s lawyers hired the ghostwriting pros at Sullivan | Simon. PNC Bank appealed from the order overruling in part and sustaining in part the objections filed by cotrustees/beneficiaries to the Third Account of a trust. PNC challenged the orphans’ court’s limiting PNC’s trust administration fee to five percent of income and granting a one-time principal fee of $145,000 as compensation for services rendered during the third accounting period. PNC also challenged the orphans’ court’s denial of its request for the trust to pay attorney’s fees. The Pennsylvania Superior Court affirmed. The Court found that “based on the evidence presented, including testimony that PNC and its predecessors received, without complaint, a five percent income commission as provided in a letter for nearly 60 years, it is disingenuous, at best, for PNC to argue that there was no income fee agreement.” And PNC did not present clear and convincing evidence of how its duties were substantially different to warrant an adjustment of its specified compensation. Next, the Court concluded that the orphans’ court correctly exercised its discretion in granting an interim principal commission of $145,000. Last, the Court held that “PNC’s failure to cite relevant legal authority and provide fact-specific legal analysis hampers the Court’s review of the issues and, therefore,” PNC waived the other claims.
