ESTATE OF JEFFREY E. EPSTEIN — PROBATE PROCEEDINGS Case No. SX-2019-PR-00011 — Superior Court of the U.S. Virgin Islands Filed August 22, 2019
Following Jeffrey Epstein's death on August 10, 2019, at the Metropolitan Correctional Center in Manhattan, probate proceedings were initiated in the U.S. Virgin Islands, where Epstein had established legal residence and where significant assets — including his private islands of Little St. James and Great St. James — were located.
LAST WILL AND TESTAMENT:
Epstein signed his last will and testament on August 8, 2019, just two days before his death. The will was witnessed by two attorneys from the law firm of Darren K. Indyke and was executed while Epstein was incarcerated at the Metropolitan Correctional Center. The timing of the will — signed 48 hours before his death — drew intense scrutiny and speculation.
The will directed that all of Epstein's assets be transferred to the 1953 Trust, a newly created entity named for his year of birth. The trust's beneficiaries were not publicly identified. Epstein's estate was initially valued at approximately $577 million in a sworn estate tax filing, though subsequent analyses and litigation placed the total value at approximately $634 million.
CO-EXECUTORS:
The will named Darren K. Indyke and Richard D. Kahn as co-executors of the estate. Indyke was Epstein's longtime personal attorney, and Kahn was a longtime financial associate. Both men had extensive knowledge of Epstein's financial arrangements and business structures. Their appointment drew objections from victims' attorneys and the U.S. Virgin Islands Attorney General, who argued that individuals so closely connected to Epstein during his lifetime presented conflicts of interest in administering the estate.
ESTATE ASSETS:
The estate's holdings included:
Real property: The Manhattan townhouse at 9 East 71st Street (valued at approximately $56 million), the Palm Beach estate at 358 El Brillo Way (valued at approximately $12 million), the New Mexico ranch near Stanley (approximately 10,000 acres), Little St. James island, Great St. James island, and a residence in Paris.
Financial assets: Brokerage accounts, private equity investments, and substantial cash holdings distributed across multiple financial institutions.
Personal property: Art collections, furnishings, vehicles, and aircraft.
VICTIM CLAIMS PROCESS:
In June 2020, the estate established the Epstein Victims' Compensation Program (EVCP), administered by independent claims administrator Jordana Feldman. The program offered victims an alternative to civil litigation, providing compensation in exchange for releasing claims against the estate. By its conclusion, the EVCP distributed approximately $121 million to more than 135 claimants. The program was funded entirely from estate assets.
ATTORNEY GENERAL INTERVENTION:
The U.S. Virgin Islands Attorney General's office intervened aggressively in the probate proceedings, filing its own civil action against the estate in January 2020 and challenging the co-executors' management of estate assets. The AG's office argued that the estate was structured to shield assets from victim claims and that the co-executors had facilitated Epstein's criminal enterprise through their management of his financial affairs.
PROPERTY DISPOSITIONS:
The Manhattan townhouse was sold in March 2021 for $51 million to Michael Daffey, a former Goldman Sachs executive. Little St. James and Great St. James islands were listed for sale and eventually sold. The Palm Beach estate was demolished in April 2021.
ONGOING LITIGATION:
The probate proceedings became one of the most complex estate administrations in U.S. history, with dozens of victim claims, government enforcement actions, and interpleader disputes involving financial institutions that held Epstein assets. The proceedings remained active for years, with contested claims and appeals extending well beyond the initial filing.