Perth Wills Lawyers in Perth, Western Australia | Lawyer & law firm

Perth Wills Lawyers

Locality: Perth, Western Australia

Phone: +61 8 6245 1268

Address: 16 Irwin Street 6000 Perth, WA, Australia

Website: http://www.perthwillslawyer.com.au

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11.01.2022 Isaac Stern, an American was one of the world’s greatest violinists of the 20th century. When Stern died aged 81 years in 2001, the executor appointed under his Will auctioned off his legacy intended for his children including autographed photographs, violins and his music collection allegedly to pay off estate debts. Stern’s children sued the executor alleging that the executor had wrongly excluded their father’s apartment from the estate and paid himself thousands of dollar...s leaving the estate unable to pay off the musician’s debts. The Probate Court in the USA found that the selling of Stern’s legacy caused his children to suffer incalculable personal loss. The Court also ruled that the executor had to pay back to the estate $313,000 which the executor had paid to himself stating that this payment from the estate was outrageous, improper and unjustified. The example of the estate of Isaac Stern above highlights the importance of the management of a deceased estate. Serious financial and emotional ramifications may be caused to the family members of the deceased if the estate is not managed properly and in accordance with the law. This may result in the executor or administrator of the estate facing personal liability.