Well, not related to the estate thing… I was recently reccomended this fan edit of The Hobbit and gave it a shot, and rather liked it. The Bilbo 4.0 cut.
https://goldfishblues.wordpress.com/2018/04/14/the-hobbit-the-bilbo-edition-3-0-the-final-cut/
Takes the 9 hours of film (including some of the extended edition material) and cuts it down to under 4 hours and some credits. I've tried watching other edits before but they're usually really chunky and try to save time by cutting badly in places in an attempt to get it down to 2 or 3 hours, which leads to the dialogue and pacing feeling really off or the music cues being awkward. but this version has been polished and refined for years and it's pretty solid. I didn't even notice the cuts for the first hour or so, I had to compare to the original before I realized "oh yeah, that pointless scene is gone."
This cut keeps scenes more intact overall, so while it holds true to the book it also keeps some of what Jackson brought to the table and keeps the pacing of dialogue and such feeling right. Really recontextualized the Beorn and Gollum stuff, and gets rid of or trims down a lot of the excessive action beats. It des its heavy duty editing on all the Legolas stuff, the Gandalf side story (which the original book never touched on), and the battle of five armies… which well, weren't in the book.
It's not perfect, and there's bound to be something you liked from the long version that didn't make it, but overall I think this might be my goto version from here on out if I actually want to enjoy it and not just have it as background noise..