What happened to the Menendez brothers’ money?. They ended up in Jail and did have much chance to spend the money. Well, People have different ways of acquiring wealth, either genuinely and illegitimately. Some People use the genuine methods by working hard to gain wealth, while some people on the others hand use dubious and unscrupulous methods to wealth acquisitions.
The Menendez brothers’ used the latter but didn’t benefit due to imprisonment. So, what happened to the Menendez brothers’ money?
The Menendez brothers’ (Erik and Lyle) were sons of Jose and Kitty Menendez. They grow up in their parent’s lavish Beverley Hills home. The two brothers murdered their parents to inherit their huge fortune. Their Parents, Jose and Kitty Menendez’s net worth was estimated to be around $14.5 million at that time.
What did the Menendez brothers do?
The two boys on 20th June 1889 killed their parents in their home. Two days before the actual killing, the brothers bought two shotguns from a store far away from the family mansion. On 20th August 1989, the Menendez brothers Lyle and Erik entered their family house in Beverly Hills and shot death their father Jose and mother Kitty while they were watching television on the couch.
After the killing the boys quietly left the house and drove to the movies, where they bought tickets to cover the incident. On arrival from the movies, Lyle called the police claiming someone entered their house and had murdered their parents.
Initially, they were not on the suspects list of the murder until they started living extravagantly off their parent’s fortune. They spent thousands of dollars shopping, travelling, and partying. Their new lifestyle made the detectives narrow down on them as probable suspects of the murder and started investigating them.
The Menendez brothers committed the crime after years of sexual abuse suffering at the hands of their father. After the murder and arrest became a hot topic of discussion across all media houses.
What happened to the Menendez brothers’ money?
Do the Menendez brothers’ still have access to the money? No, they don’t. According to the California Salyer Statute, the Menendez brothers cannot have access to the money due to their felonious act.
It states
A named beneficiary of a bond, life insurance policy or other contractual arrangements who feloniously and intentionally kills the principal oblige or the person upon whose life the policy is issued is not entitled to any benefit under the bond, policy, or other contractual arrangements, and it becomes payable as though the killer had predeceased the decedent.
who has the Menendez brothers’ fortune? The money is not been kept by any person in particular. Due to the numerous entanglement affairs during the Menendez brothers’ trial and incarceration. Menendez brothers’ inheritance of around $14.5 million and insurance payouts were not eligible for use after their conviction. The fortune catered for the following:
- Estate taxes- $4 million .
- Their legal woes- $1.49 million .
- Mortgage payments- $4.2 million
- $10.8 million was used on other expenses.
The brothers are still serving their life sentences in prison in California. The brothers are a bit older now after already serving 31 years of their imprisonment. They went to jail in their early 20s, but at the moment, Erik is 50 years while Lyle is 53 years.
