Jeffrey Epstein may have gamed the system from beyond the grave

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Jeffrey Epstein may have gamed the system from beyond the grave
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Estate lawyers and other experts say prying open the trust and dividing up the financier’s riches is not going to be easy and could take years

“This is the last act of Epstein’s manipulation of the system, even in death,” said attorney Jennifer Freeman, who represents child sex abuse victims.Epstein, 66, killed himself Aug. 10 in New York while awaiting trial on federal sex trafficking charges. The discovery of the will with its newly created 1953 Trust, named after the year of his birth, instantly raised suspicions he did it to hide money from the many women who say he sexually abused them when they were teenagers.

From there, the women will have to follow the course they would have had to pursue even if Epstein hadn’t created a trust: convince the judge that they are entitled to compensation as victims of sex crimes. The judge would have to decide how much they should get and whether to reduce the amounts given to Epstein’s named beneficiaries, who would also be given their say in court.

She said attorneys for the women will go after Epstein’s estate in the U.S. Virgin Islands, where the will was filed and where he owned two islands. Typically in any case, trust or not, there is a pecking order of entities that line up to get a share of an estate, said Stephen K. Urice, a law professor at the University of Miami. First in line would be the government – in Epstein’s case, several governments – which will collect any taxes owed on his properties and on his estate itself.Lawsuits against the estate by victims would come into play somewhere after that.

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