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Estate of Jeffrey Epstein

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Estate of Jeffrey Epstein
FormationAugust 15, 2019;6 years ago (2019-08-15)
Type Estate
Legal statusActive
PurposeSettling the affairs of Jeffrey Epstein
Headquarters Saint Thomas, Virgin Islands
Executor

The estate of financier and convicted sex offender Jeffrey Epstein was established following his death on August 10, 2019, for the purpose of administering his property and settling his legal issues. The estate was created on August 15, 2019, when Epstein's last will and testament was filed in the Superior Court of the U.S. Virgin Islands.

Contents

Epstein's will named his lawyer, Darren Indyke, and his accountant, Richard Kahn, as joint executors of his estate. The estate is organized as a revocable trust called the 1953 Trust, and it will pay out the remainder of Epstein's fortune to trustees upon the resolution of all claims against the estate. Epstein's estate was valued at over $577 million at the time of his death, but it has since decreased in value to around $120 million due to ongoing costs. The estate has been the subject of numerous lawsuits and legal inquiries, including two Congressional subpoenas by the House Oversight Committee.

Background

Epstein's fortune

Epstein's net worth is not publicly known. According to a CBS News analysis, at the time of his death, Epstein's assets totaled over $577 million; [1] however, a Miami Herald investigation in 2019 based on Paradise Papers and Swiss Leaks documents concluded that Epstein had an interest in offshore funds which may obscure his true wealth and The New York Times has claimed that "Epstein's fortune may be more illusion than fact." [2] [3]

Epstein's fortune at the time he died included numerous properties, including the islands of Little Saint James and Great Saint James in the U.S. Virgin Islands, a townhouse in New York City, and a ranch outside of Santa Fe, New Mexico. [4] He also owned multiple private aircraft, including a Gulfstream G550 and a Boeing 727. [5] Bloomberg News claimed in 2019 that "so little is known about Epstein's current business or clients" that these assets are "the only things that can be valued with any certainty." [6] At the time of his death, Epstein's fortune also included about $70 million in cash and fixed income investments. [1]

Last will and testament

Epstein signed a will on August 8, 2019, two days before his death, while he was in custody at the Metropolitan Correctional Center in New York City. [7] Attorneys Mariel Colón Miró and Gulnora Tari were present as witnesses. [8] [9] The will was filed in the U.S. Virgin Islands on August 15, five days after he died by suicide on August 10. [10] The will created a revocable pour-over trust called the 1953 Trust, which news outlets speculate is named after the year of Epstein's birth. [9] According to The New York Times, the will lists Epstein's residence as the U.S. Virgin Islands and there are 40 names included in the Trust. [9] [11] A Forbes report in 2019 claimed that the decision to place his assets in a trust could complicate attempts to make claims against the estate. [12]

Management

Executors

Darren Indyke (left) and Richard Kahn (right). Darren Indyke and Richard Kahn Depositions Double Image.png
Darren Indyke (left) and Richard Kahn (right).

Epstein's will appointed Darren Indyke, Epstein's attorney, and Richard Kahn, Epstein's accountant, as the executors of his estate. [13] Prior to his appointment as executor, Indyke had worked for Epstein in various capacities since at least 1995, while Kahn had worked as Epstein's accountant since 2005. [14] [15] In 2019, both men were listed by the FBI as co-conspirators of Epstein, but neither Indyke nor Kahn were charged with any crimes and have denied all wrongdoing. [16] [17]

Venture capitalist Boris Nikolic, a former science advisor to Bill Gates, was named as a backup executor in Epstein's will. [18] Nikolic has said that he did not consent to being named as an executor. [19]

Value

Under Indyke and Kahn, the value of the estate has depreciated by up to 80 percent, from nearly $600 million at the time of Epstein's death to around $120 million. [11] Ongoing costs decreasing the estate's value have included taxes, property upkeep, and legal costs. [20] The estate could face additional tax claims if authorities such as the Internal Revenue Service challenge Epstein's domicile, and the remainder of Epstein's assets will not pass into the 1953 Trust until the resolution of all claims against the estate. [9]

Lawsuits

Epstein's estate has been involved in numerous lawsuits, including paying a $105 million settlement to the government of the U.S. Virgin Islands, which sued Epstein's estate over potential fraud and environmental violations. [20] [21] 50 percent of the proceeds from the sale of Epstein's private islands, Great Saint James and Little Saint James, will also be paid to the Virgin Islands government as part of the settlement. [11] The estate has paid out $121 million restitution to over 135 women as part of a restitution program from 2019 to 2021, [20] [22] $48 million in individual settlements to 59 additional women, [23] and is in the process of settling a class-action lawsuit against Indyke and Kahn with a $35 million settlement. [17]

August 2025 Congressional subpoena

Epstein's estate was subpoenaed by the House Oversight Committee on August 25, 2025, for thousands of documents relating to Epstein's activities dating from 1990 to 2019, including Epstein's "birthday book", a collection of letters sent to Epstein for his 50th birthday. [24] [25] [26] The estate cooperated with the investigation and the Oversight Committee released the documents it received on September 8. [27] The subpoena proceedings were marked by political tension between Republican Oversight Committee chairman James Comer and Democratic members of the committee. [28]

January 2026 Congressional subpoena

Indyke and Kahn, along with Epstein's former client Les Wexner, were subpoenaed as individuals to testify before the Oversight Committee on January 23, 2026. [29] Following the announcement of the subpoena, attorney for the estate Daniel Wiener said that Indyke and Kahn "fully intend to continue their cooperation with the Committee, including its efforts to investigate potential government wrongdoing regarding Mr. Epstein, and look forward to setting the record straight as to their lack of involvement in Mr. Epstein's misconduct." [30] The second subpoena process saw greater bipartisanship than the first, although tensions increased during the depositions. [31] [32] [33]

Kahn's testimony took place in a closed session on March 11. [34] Kahn denied knowledge of Epstein's misconduct, saying that he "was not aware of the nature or extent of Epstein's abuse of so many women until after Epstein's death" and that although he was aware of gifts given by Epstein from his role as the day-to-day manager of Epstein's financial records, he "did not see anything that suggested to [him] that Epstein was abusing or trafficking women or otherwise acting unlawfully." [35] [23] Midway through the deposition, Comer said that Kahn was cooperating with the committee, answering all of the questions asked of him; this claim was disputed by Democratic representative James Walkinshaw. [32] Comer also said that Kahn named Wexner, Glenn Dubin, Steven Sinofsky, and the Rothschild family as "clients that paid money to Epstein." [35]

Indyke testified on March 19, also in a closed session. [34] He denied any connection to or knowledge of Epstein's misconduct, saying that it is "a matter of record" that none of Epstein's victims have accused him of committing sexual abuse, witnessing sexual abuse, or being reported to about sexual abuse. [36] Indyke went on to say that if he had knowledge of Epstein's actions at the time, he would have "severed all ties" with Epstein. [37] Comer told reporters that he asked Indyke why he continued working with Epstein following his 2008 conviction; Comer said that Indyke described it as a "one-time mistake" and that Epstein was "remorseful." [38] Multiple Democratic members of the committee expressed doubt about Indyke's credibility, including Dave Min, Jasmine Crockett, and Robert Garcia. [33]

References

  1. 1 2 "Jeffrey Epstein signed will days before death in Manhattan jail — no beneficiaries named". CBS News. August 19, 2019. Archived from the original on December 14, 2025. Retrieved February 12, 2026.
  2. ↑ Hall, Kevin G.; Nehamas, Nicholas (July 18, 2019). "Leaked documents show Jeffrey Epstein kept funds offshore. Can the money even be tracked?". Miami Herald . Archived from the original on July 18, 2019. Retrieved July 18, 2019.
  3. ↑ Stewart, James B.; Goldstein, Matthew; Kelly, Kate; Enrich, David (July 10, 2019). "Jeffrey Epstein's Fortune May Be More Illusion Than Fact" . The New York Times. ISSN   0362-4331. Archived from the original on July 11, 2019. Retrieved July 11, 2019.
  4. ↑ Betts, Anna; Bekiempis, Victoria (February 8, 2026). "From New York to New Mexico: new Epstein files shed light on his sprawling ranch outside Santa Fe". The Guardian. ISSN   0261-3077 . Retrieved February 11, 2026.
  5. ↑ Pallini, Thomas. "Jeffrey Epstein's luxurious $61 million Gulfstream G550 private jet was just put on the market". Business Insider. Archived from the original on July 8, 2025. Retrieved February 11, 2026.
  6. ↑ Metcalf, Tom; Melby, Caleb; Alexander, Sophie (July 8, 2019). "Mystery Around Jeffrey Epstein's Fortune and How He Made It". Bloomberg News . Archived from the original on July 8, 2019. Retrieved July 8, 2019.
  7. ↑ Hill, James; Katersky, Aaron; Hutchinson, Bill (August 20, 2019). "Jeffrey Epstein signed redrafted will 2 days before jail suicide". ABC News. Retrieved February 11, 2026.
  8. ↑ Voreacos, David; Weinberg, Neil (August 20, 2019). "Epstein Created Trust With $578 Million Days Before Suicide" . Bloomberg. Archived from the original on July 25, 2025. Retrieved February 12, 2026.
  9. 1 2 3 4 Pascus, Brian (August 21, 2019). "What we know about Jeffrey Epstein's will, and what happens next with his estate and". CBS News. Archived from the original on December 22, 2020. Retrieved February 11, 2026.
  10. ↑ Eder, Steve; Watkins, Ali (August 20, 2019). "Jeffrey Epstein's Will: He Signed 2 Days Before Killing Himself" . The New York Times. ISSN   0362-4331 . Retrieved February 11, 2026.{{cite news}}: CS1 maint: deprecated archival service (link)
  11. 1 2 3 Goldstein, Matthew (February 3, 2026). "Epstein's Trust Reveals Who Would Inherit His Fortune" . The New York Times. Retrieved February 12, 2026.{{cite news}}: CS1 maint: deprecated archival service (link)
  12. ↑ Togoh, Isabel (August 20, 2019). "Jeffrey Epstein Put His Assets In A Trust—But Here's How His Alleged Victims Can Go After His Money". Forbes . Retrieved March 12, 2026.
  13. ↑ Helmore, Edward (August 22, 2019). "Jeffrey Epstein signed new will to shield $577m fortune days before death". The Guardian. ISSN   0261-3077 . Retrieved February 11, 2026.
  14. ↑ La Roche, Julia; Swaminathan, Aarthi; McHugh, Calder (August 14, 2019). "Jeffrey Epstein's lawyers deeply involved in his business dealings for decades, documents show". Yahoo Finance. Archived from the original on January 16, 2026. Retrieved February 3, 2026.
  15. ↑ Palazzolo, Joe; Safdar, Khadeeja (November 23, 2025). "The CPA and the Lawyer Who Served Jeffrey Epstein—and Control His Fortune and Secrets" . The Wall Street Journal. Retrieved February 7, 2026.{{cite web}}: CS1 maint: deprecated archival service (link)
  16. ↑ Goldstein, Matthew (January 30, 2026). "Federal Authorities Mapped Out Epstein's Inner Circle" . The New York Times. ISSN   0362-4331 . Retrieved February 3, 2026.{{cite news}}: CS1 maint: deprecated archival service (link)
  17. 1 2 Cohen, Luc (March 3, 2026). "Epstein estate's $35 million settlement with accusers wins preliminary judge approval". Reuters . Retrieved March 6, 2026.
  18. ↑ Leggate, James (August 20, 2019). "Who is Boris Nikolic? Epstein-named executor is former Bill Gates adviser". FOXBusiness. Archived from the original on February 14, 2026. Retrieved February 12, 2026.
  19. ↑ Robins-Early, Nick (February 10, 2026). "Epstein engineered intimate relationship for Tesla's Kimbal Musk, emails show". The Guardian. ISSN   0261-3077 . Retrieved February 11, 2026.
  20. 1 2 3 Goldstein, Matthew (January 28, 2022). "Where Is Jeffrey Epstein's Money Going?" . The New York Times. ISSN   0362-4331 . Retrieved February 12, 2026.{{cite news}}: CS1 maint: deprecated archival service (link)
  21. ↑ "U.S. Virgin Islands Attorney General Settles Sex Trafficking Case Against Estate Of Jeffrey Epstein And Co-Defendants For Over $105 Million – United States Virgin Islands". December 1, 2022. Retrieved February 12, 2026.
  22. ↑ Hill, James (August 9, 2021). "Jeffrey Epstein victims program shutting down with $121 million paid to abuse survivors". ABC News. Archived from the original on February 11, 2026. Retrieved February 11, 2026.
  23. 1 2 McShane, Julianne (March 11, 2026). "Jeffrey Epstein's accountant testifies before House committee". MS NOW. Retrieved March 11, 2026.
  24. ↑ Helmore, Edward (August 25, 2025). "Republican-led committee subpoenas documents from Jeffrey Epstein estate". The Guardian. ISSN   0261-3077 . Retrieved February 11, 2026.
  25. ↑ Quinn, Melissa (August 25, 2025). "House panel subpoenas Epstein's estate for documents, book reportedly containing Trump birthday letter". CBS News. Archived from the original on November 13, 2025. Retrieved February 11, 2026.
  26. ↑ Ferris, Sarah (August 25, 2025). "House GOP Oversight panel subpoenas Epstein estate for 'birthday book,' other documents | CNN Politics". CNN. Archived from the original on November 12, 2025. Retrieved February 11, 2026.
  27. ↑ "Oversight Committee Releases Records Provided by the Epstein Estate, Chairman Comer Provides Statement". United States House Committee on Oversight and Government Reform. February 10, 2026. Archived from the original on February 5, 2026. Retrieved February 11, 2026.
  28. ↑ Lillis, Mike (August 25, 2025). "Republicans subpoena Epstein estate for 'client list,' birthday book, other documents". The Hill. Archived from the original on November 19, 2025. Retrieved February 12, 2026.
  29. ↑ Ruetenik, Daniel; Tabachnick, Cara (January 23, 2026). "Epstein's inner circle Les Wexner, Darren Indyke and Richard Kahn subpoenaed to testify before House Oversight Committee". CBS News. Archived from the original on January 28, 2026. Retrieved February 11, 2026.
  30. ↑ Glisson, Fiona; Gregorian, Dareh (January 8, 2026). "House committee votes to issue more subpoenas related to Jeffrey Epstein". NBC News. Archived from the original on February 15, 2026. Retrieved February 11, 2026.
  31. ↑ "Oversight Committee Republicans and Democrats Hold Bill and Hillary Clinton in Contempt for Defying Lawful Subpoenas". United States House Committee on Oversight and Government Reform. February 10, 2026. Retrieved February 12, 2026.
  32. 1 2 Grayer, Annie (March 11, 2026). "Longtime Epstein accountant takes questions from House Oversight Committee in probe of late sex offender | CNN Politics". CNN. Retrieved March 11, 2026.
  33. 1 2 Grayer, Em Steck, Annie (March 19, 2026). "Longtime Epstein attorney says he didn't know of the financier's sexual abuse | CNN Politics". CNN. Retrieved March 22, 2026.{{cite web}}: CS1 maint: multiple names: authors list (link)
  34. 1 2 "Epstein had two key aides - so why do they still control his money and secrets?". www.bbc.com. March 11, 2026. Archived from the original on March 11, 2026. Retrieved March 11, 2026.
  35. 1 2 "Richard Kahn, Epstein's accountant, tells Congress he didn't know about abuse, saw no red flags in spending - CBS News". www.cbsnews.com. March 11, 2026. Retrieved March 11, 2026.
  36. ↑ Fuchs, Hailey (March 19, 2026). "Epstein's lawyer tells House Oversight investigators he had 'no knowledge' of Epstein's crimes". POLITICO. Retrieved March 22, 2026.
  37. ↑ Berger, Ava (March 20, 2026). "Epstein's former attorney testifies he had 'no knowledge whatsoever' of crimes". NPR. Retrieved March 22, 2026.
  38. ↑ Groves, -Stephen; Groves, Associated Press Stephen; Press, Associated (March 20, 2026). "Epstein's former attorney testifies to House committee, says he didn't know about the abuse". PBS News. Retrieved March 22, 2026.
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