Texas Trust Law blog that talks about the fact that one of Jimi Hendrix's guitars was found to be missing from the estate when a shop called to verify it's authenticity. It's interesting from an estates point of view because the person selling the guitar said it was given to him by his ex-wife, Janie Hendrix, who is the CEO of the company that runs the Hendrix estate. Click here to read the story, which has much more detail than I've included here.
It often happens that an executor of an estate gives a personal item to someone who wasn't supposed to get it. However, the item doesn't usually turn out to be an extremely valuable guitar once played by a rock legend. For the record, Janie Hendrix says that she didn't give it to him, and that he stole it. That is yet to be determined,
It does highlight what can happen when an executor gives away personal items to the wrong people. In a nutshell, it leaves the executor on the hook to repay the value of the item to the estate.