The Complications of Jeffrey Epstein’s Money

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The Complications of Jeffrey Epstein’s Money

Jeffrey Epstein killed himself on August 10, 2019, but the chaos he created lives on after his death. Now, with prosecutors no longer able to charge him with a criminal offense, the victims’ fight for justice has turned towards Epstein’s estate.

Epstein signed a new Will two days before he died, which contains a Trust that hides his beneficiaries and makes it harder for victims to access his money. Victims may also have a limited amount of time to file claims against the estate.

How Much Money Did Epstein Really Have?

Epstein’s new Will stated he had:

  • About $56 million in cash
  • Property in New York, Florida, New Mexico, Paris, and the Virgin Islands
  • Vehicles, boats, and aircraft worth of total of about $18.5 million, and
  • Art and collectibles whose value still needs to be appraised

Court documents presented during Epstein’s earlier criminal trial said he was worth a total of $550 million, but it could be even higher.

Opening Epstein’s Trust

The beneficiaries of Epstein’s Trust are hidden from public view. For victims to receive compensation, a judge may have to order that the trust be opened. If a judge finds that the women are entitled to compensation, he or she will have to decide if it’s necessary to reduce the amount that the named beneficiaries receive to free up enough money to pay the victims.

No Punitive Damages Against the Estate

If Epstein were still alive, he would face criminal charges and could be ordered to pay punitive damages. While the victims can still sue his estate for the harm he caused, they cannot get punitive damages from the estate.

Comprehensive Estate Planning

Few estates have gained the notoriety of Jeffrey Epstein’s — but everybody needs a good estate plan. Contact The Estate Planning and Legacy Law Center to create an estate plan that meets your wishes and needs!