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For Estate Planning, Estate Administration And Disputes

Jeffery Epstein saga: What happens with his estate?

On Behalf of | Aug 29, 2019 | Firm News |

Unless you have been actively avoiding the news in New York, you will know about Jeffery Epstein. The accusations, the arrest and the death have made for a whirlwind story. However, despite his death, charges are still pending and not everything is wrapped up. One thing still up in the air is what will happen with Epstein’s estate.

CBS News explains estate questions are just the latest in the epic story of this accused criminal. It is not even clear the value of his estate. Claims say he was worth hundreds of millions of dollars, but the truth is yet to be seen. What we do know if he owned an island in the Caribbean, and homes in Florida and New York. The most recent estimate of his net worth is $559 million.

However, his heirs will probably only see a fraction of that if anything. First, the estate must pay for civil lawsuit settlements and other costs associated with his criminal charges that are outstanding, such as fees. The criminal charges will not go forth now that he is dead, so clearing up any related costs should be quick. The civil lawsuits, though, are still piling up with more to surely come. That could wipe out the whole estate.

There is also a chance that Les Wexner may file a lawsuit against the state for alleged theft. Wexner claims Epstein stole money from him.

In the event there is money left, it would probably go to Epstein’s brother, who is his closest heir. This information is for education and is not legal advice.