What happened to the Menendez brothers' money?

What happened to the Menendez brothers' money?

What would you do for money? Whatever it takes, right? It seems that the infamous Menendez brothers took this literally when they murdered their parents, Jose and Kitty Menendez, in a gruesome shotgun slaying. It happened more than thirty years ago, on August 20, 1989. However, the horrific account still lingers on people's minds. The brothers were slated to inherit an estate with a gross value of $14.5 million. So, what happened to the Menendez brothers’ money?

What happened to the Menendez brothers' money?

Lyle (L) and Eric Menendez Photo: @Inside Edition
Source: UGC

The Menendez brothers murders was an unforgettable saga that rocked courtrooms and screens in the '90s. Now, more than three decades later, people are wondering whether the Menendez brothers benefited from their parent’s money.

The Menendez brothers’ story

Growing up in the lavish Beverly Hills, Erik and Lyle Menendez, known as the Menendez brothers had it all. Jose and Kitty Menendez net worth was valued at over $14.5 million at that time, which was a significant amount.

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The brothers admitted to killing their parents. Their theatricality during court proceedings is what made them infamous. They bought two shotguns on August 18, 1989, from a store over 100 miles from their family mansion. They used these weapons to murder their parents while they were watching television on the couch.

The two brothers then drove to the movies and bought tickets to cover up the crime. Additionally, they changed into new and clean clothes, went back home, and pretended to discover their parent's lifeless bodies.

Before they were arrested, the Menendez brothers spent a lot of money partying, traveling, and shopping, making detectives narrow down on them as possible suspects.

What happened to the Menendez brothers’ money?

What happened to the Menendez brothers' money?

A recent picture of Lyle Menendez in prison. Photo: @Sharon
Source: UGC

How much money did Menendez brothers inherit? The Menendez brothers, who were the sole heirs of their parent's estate, stood to inherit around $14.5 million upon their parents' death.

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On top of that, Erik and Lyle Menendez received a life insurance payout of about $700,000. So, was Menendez brothers inheritance ever realized, and what did they do with the insurance money?

Shopping spree

The brothers were arrested half a year later after their parents' gruesome murder. They had reportedly spent around $1 million on parties, traveling, and shopping.

Four days after their parents' murders, the brothers bought three Rolex watches valued at $15,000. They wore these to their parents' funeral. According to Lyle's bodyguard testimony in court, Lyle often randomly spent about $3,000 on clothing and sports apparel whenever he got the chance.

Erik, on the other hand, was more practical on his spending. He bought a Jeep Wrangler, hired a $60,000 a year tennis coach, and put $40,000 in a rock concert that never took place.

The brothers even went on exotic vacations knowing that more money was coming in. Erik and Lyle Menendez were also slated to receive around $5 million life insurance pay-out on their father. However, the technicalities of the policy restricted them from collecting.

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Lyle also bought the Porsche Carrera that cost $64,000, which is a costly ride. He also went back to college, but to invest. Lyle bought a Chuck's Spring Street Café for an estimated $550,000.

The Menendez brothers also moved out of their parent's mansion and started living in expensive hotels that further depleted their money. After getting tired of hotels' expenses, the brothers leased adjoining condos in Marina Del Rey.

Do the Menendez brothers still have money?

According to the California Salyer Statute, when an individual is feloniously murdered, the perpetrator cannot gain from the victim's estate, whether it is a family relationship or not. So, are the Menendez brothers rich? Did they inherit their parents' estate?

It is hard to know for sure considering their parent’s money was entangled in numerous affairs over the course of their trial and incarceration. Although the brothers had already spent a huge chunk of whatever they had and received from insurance pay-outs, they couldn't spend anything from their parent's estate after their conviction.

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A massive amount of their parents' money of around $4 million went to estate taxes. A further $1.49 was utilized to settle the brother's legal woes. Mortgage payments ($4.1 million) also reduced the money, and nearly $10.8 million was spent on other expenses.

The remainder of the Menendez money disappeared in a few short years leaving them broke. If the brothers were acquitted during their murder trial, they would have inherited nothing as so much had gone within a short period.

The Menendez house sold in 1991 for $3.6 million at a loss of nearly $2.1 million. All of the money catered for the mortgage, closing costs, and Internal Revenue Service. Additionally, they sold a Calabasas house with a $2.65 million value of $1.94 million.

What is going on with the Menendez brothers now?

Today, the Menendez brothers are serving life sentences for first-degree murder without the possibility of parole in a Southern California prison. They were sentenced to separate facilities when they were convicted and spent 20 years behind bars separated from one another.

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If you wondered "Who inherited the Menendez brothers money?" the info above account details what happened to their parent's estate. They are probably the most infamous sibling killers of modern history, becoming one of the most talked-about stories of their time.

Considering their parents' massive worth, and the children's spending spree, the question of "What happened to the Menendez brothers’ money?" still lingers. It is hard to imagine that such a massive worth vanished so fast.

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