February 21, 2020

Jeffrey Epstein ‘signed will’ two days before his death, leaving behind nearly $600 million trust

The documents show that the disgraced financier was worth $577,672,654, and had more than $56 million in cash. Epstein’s fortune, that also includes real estate and equities among other assets, is about $18 million more than he previously stated in court papers when his lawyers unsuccessfully tried to obtain bail for their client while he being held on federal sex trafficking charges.

Also on rt.com The future of pedophile Jeffrey Epstein’s fortune shrouded in mystery after his death

The enlisted properties include the pedophile’s Caribbean oasis in the US Virgin Islands, where the court document was filed,  Great St James in the Virgin Islands, worth more than $22 million, and Little St James Island, worth nearly $63 million. The latter was even dubbed ‘Pedophile Island’ by some locals.

The real estate also includes homes in New York City and Paris, and a ranch in New Mexico. The will also lists “aviation assets, automobiles and boats,” worth more than $18 million.

A court sketch of Jeffrey Epstein, made during his bail hearing in New York © Reuters / Jane Rosenberg Epstein’s money trail: Will probe into Deutsche Bank reveal powerful connections?

While the list of holdings mentions Epstein’s collection of fine arts and antiques, its value is not included in the total of his fortune as it is subject to further appraisal, the document says.

All assets were put in a trust called “The 1953 Trust” after the year he was born. However, Epstein might have failed to finish the transfer of the assets to the trust due to a lack of time, an estate attorney told Bloomberg.

There are no details on the trust’s beneficiaries, but the papers note that Epstein’s only potential heir was his brother Mark Epstein. The will adds, however, that Mark could only have a claim to his brother’s fortune if no document was left behind.

Epstein’s longtime lawyers Darren K. Indyke and Richard D. Kahn were named as primary executors of the estate. For executing Epstein’s will the duo will receive $250,000 each, in addition to expenses.

The sex offender’s will is being closely watched by his victims’ lawyers as lawsuits against him are still piling up. Women accuse the late financier of abusing them when they were children. Last week, Jennifer Araoz filed the lawsuit against the sex offender’s estate, accusing Epstein of repeated sexual assault and a rape when she was a teen.

For more stories on economy finance visit RT’s business section

Article source: https://www.rt.com/business/466876-epstein-will-before-death/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Speak Your Mind