New York: Jeffrey Epstein signed a will just two days before he killed himself in jail, new court records show, opening a new legal front in what could be a long battle over the financier’s fortune.
Court papers filed last week in the US Virgin Islands list no details of beneficiaries but valued the estate at more than $577 million, including more than USD 56 million in cash.
The existence of the will, first reported by the New York Post, raised new questions about Epstein’s final days inside the Metropolitan Correctional Center, where he was awaiting trial on federal sex trafficking and conspiracy charges.
Epstein signed the document Aug 8. Less than 48 hours later, he was found dead in his cell, prompting an investigation that has cast a harsh light on staffing shortages at the Manhattan detention center.
Prosecutors on Monday moved to dismiss the indictment against Epstein but have said they are considering charging others with facilitating his alleged abuse of dozens of girls.
The filing of the will, meanwhile, had been closely followed by lawyers representing women who claim they were sexually abused by Epstein when they were teenagers and recruited into his residences to provide him massages.
Several attorneys vowed to go after his assets even if the will had named beneficiaries, as Epstein’s death means there will be no trial on the criminal charges against him. One woman filed suit against the estate last week, claiming Epstein repeatedly raped her when she was a teenager.
“Give his entire estate to his victims. It is the only justice they can get,” one of those lawyers, Lisa Bloom, wrote in an email. “And they deserve it. And on behalf of the Epstein victims I represent, I intend to fight for it.”
Former federal prosecutor David S Weinstein, who is now in private practice in Miami but not involved in the Epstein case, said states and US territories have certain timeframes within which to make a claim against someone’s estate.
“There are certainly going to be a lot of lawyers involved,” Weinstein said. “It’s not going to be over any time soon.”
A hedge fund manager who hobnobbed with the rich and famous, Epstein owned a Caribbean island, homes in Paris and New York City, a New Mexico ranch and a fleet of high-price cars.
Epstein had more than US$ 112 million worth of equities, according to the will, and nearly US$ 200 million in “hedge funds & private equity investments.”
Among the properties that will be subject to appraisal and valuation are his collection of fine arts, antiques and other collectibles.
As part of his 2008 plea deal to Florida state charges, Epstein made undisclosed financial settlements with dozens of his victims. It’s unclear how those settlements might affect any claims made on his estate.
William Blum, an attorney for Epstein’s estate, said that any debts or claims against the estate will be “fairly administered.” He said the document was Epstein’s original last will.