The former executor of late violinist ISAAC STERN's estate has been ordered to pay hundreds of thousands of dollars to his three grown-up children.
Stern's kids, SHIRA, MICHAEL and DAVID, went to court asking for more than $2 million (GBP1.05 million) from WILLIAM MOORHEAD III, claiming he had improperly calculated the estate's value and transferred assets to the late musician's third wife, LINDA REYNOLDS STERN, as well as unnecessarily auctioning off personal items to pay off debts.
Probate Court Judge MARTIN LANDGREBE has ruled Moorhead must pay back the $313,000 (GBP164,736) he paid himself, plus the $250,000 (GBP131,578) he spent on the New York apartment he used as the office from which he managed the estate.
Attorney MARK SCHWARTZ says, "The legacy was squandered. In the ordinary course of any estate this behaviour is intolerable. Here there were irreplaceable things. They were this man's musical legacy."
Stern, who was one of the most foremost violinists of the 20th century, died at the age of 81 in 2001.08/05/2005 21:50