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Their father was a grandson of David Francis Atcherley Esq. of Marton Hall, High Sheriff of Shropshire, Serjeant-at-law, Attorney-General of the County Palatine of Lancaster and County Durham.
He was named for County Palatine of Lancaster near where his breeder William Hall Walker had been raised.
Originally, the Chancellor was the chief officer in the daily management of the Duchy of Lancaster and the County Palatine of Lancaster (a county palatine merged into the Crown in 1399), but that estate is now run by a deputy, leaving the Chancellor as a member of the Cabinet with little obligation in regard to the Chancellorship.