Battle over late mother’s estate between Sarina Russo and siblings draws to an end

A DISPUTE over businesswoman Sarina Russo’s late mother’s $4 million estate could soon finally be settled, a year and a half after her older sister first lodged a court challenge.

A DISPUTE over businesswoman Sarina Russo’s late mother’s $4 million estate could soon finally be settled, 18 months after her older sister first lodged a court challenge.

Ms Russo, who is executor of her 102-year-old mother Maria Russo’s estate, has filed new court documents saying family negotiations have resulted in a settlement deed.

Sarina Russo in legal battle with sister over mother’s estate

It would put an end to court applications filed by Mrs Russo’s sister Rita Pennisi and by a lawyer for their disabled brother Guiseppe (Joe) Pennisi.

Sarina Russo’s older sister, Rita Pennisi. Picture: Claudia Baxter

Documents filed in the Supreme Court, show Mrs Russo, who lived in Sarina Russo’s penthouse, owned Queensland properties valued at a total of $3.96 million.

She also owned two small villas in Italy estimated to be worth $74,000 and her total net assets are worth $4,027,473.

Under Maria Russo’s 1996 will, income from her estate assets was to be shared between siblings Joe, Rita, Sarina and the late Rosina Berlese’s four children.

But in amendment, Mrs Russo left multi-millionaire Sarina a million-dollar legacy, to reward her “extraordinary generosity” and said she should be reimbursed for her financial expenses.

In December, 2016, Mrs Pennisi filed court applications for better provision and for the will and codicil to be declared invalid, questioning whether her elderly mother had capacity.

She revealed a rift between her and sister Sarina, saying “It’s her way or the highway”.

Businesswoman Sarina Russo has been involved in a drawn-out battle over her late mother’s estate. Picture: Liam Kidston

In May last year, Sarina Russo said she and Rita had resolved a “misunderstanding’’.

Then in February, a lawyer filed a new application for their profoundly disabled brother Joe to get a greater share.

Sarina Russo has already paid almost $2.5 million for care and treatment of Joe Russo, aged in his late 70s.

The settlement deed would give $850,000 to Mrs Pennisi, $850,000 to be shared between Mrs Berlese’s four children and $1.25 million to be put in trust for the care of Joe Russo.

Sarina Russo would get the remaining share of the estate.

In a court document, Ms Russo said all beneficiaries had signed except Rosina’s son John Berlese, “despite requests being made of him to do so’’.

The document says the payments would be in full and final satisfaction of all claims and demands on any beneficiaries.

The parties would agree “not to make any adverse criticisms or disparaging statements, allegations or comments’’ about any party to the deed, its terms or transactions.

On July 19, a Supreme Court judge will be asked by Ms Russo and Joe Russo’s lawyer to make orders, including grant of probate of the will to Sarina.