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Sir Jeff

While we wait for the impending China crackdown in Hong Kong, the Jeffrey Epstein death remains the other big news topic. Epstein was not married nor did he have any alleged children. It is not known if he left a will or other estate planning documents.

Epstein was survived by his younger brother, Mark, who has two children. Epstein owned houses in NYC, Palm Beach, and the U.S. Virgin Islands. His net worth is reported to be $500 million although no one knows for certain nor the source of the wealth.

A few brief points:

1. Epstein supposedly made his money by assisting his clients with the minutiae of tax planning and other life details so it is hard to believe he did not leave a will and trust.

2. It is way too early to know his actual net worth and what claims will be brought against his estate.

3. For the sake of his heirs, they should hope that he was legally a resident of Florida or the U.S. Virgin Islands, neither of which has an estate tax, rather than New York which would tax his estate at a rate of 16%.

4. These complex estate issues will likely be determined sooner than the circumstances surrounding his death.

5. There might be some truth to the line “the person most surprised by the suicide of Jeffrey Epstein was Jeffrey Epstein.”

Photo Credit:  Unknown (from slideshow from linked article)

License:  Fair Use/Education (from linked article)

Pet Cemetery

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NY recently passed legislation permitting people to be buried with the remains of their pets. Only four states permit humans and pets to be buried together. Ohio law is silent on this matter although some cemeteries bury both humans and pets in separate sections. There is no word on whether Jennifer Lopez intends to be buried with Casper Smart.

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All Posts By Jay Brinker

I am an attorney located in Cincinnati, Ohio who practices in the areas of estate planning, probate, asset protection, and small business advice. I make a difficult and bewildering process as simple as possible. Most importantly, I provide "more for less" for my clients.