The notorious case of the Menendez brothers is back in the public eye following the release of series Monsters.
A documentary featuring interviews with Erik and Lyle Menendez from their prison cells is also set to release on the streaming platform this month.
The brothers were sentenced to life imprisonment for the brutal murder of their parents, Jose and Kitty Menendez, in 1989. The prosecution argued during the trial that the siblings were driven by greed, as they stood to inherit their father’s wealth.
During their trial, the prosecution contended that this was the reason the brothers felt compelled to kill their mother too, as she would have inherited everything before them if only their father had died.
But what was the net worth of the Menendez family? And what became of the fortune after the brothers were incarcerated?
Lyle, left, and Erik Menendez leave courtroom in Santa Monica, Calif., Aug. 6, 1990, after a judge ruled that conversations between the two brothers and their psychologist after their parents were slain are not privileged and can be used as evidence in their murder case. (AP Photo/Nick Ut) (Image: ASSOCIATED PRESS)
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What was the value of the Menendez brothers’ estate?
Jose had been a successful businessman who made his money as CEO of LIVE Entertainment The Menendez family estate is often reported to have been worth around $14m at the time of Jose and Kitty’s deaths, reports .
Adjusted for inflation, this would equate to approximately $36m today. However, it wasn’t a lump sum of cash.
The estate comprised properties, shares in Jose’s company LIVE Entertainment, and personal possessions of the couple, including their cars.
After accounting for tax deductions and loan repayments, the Menendez brothers would have received less than the aforementioned figure.
How much did the Menendez brothers actually inherit?
Despite their initial spending following the murders, the brothers didn’t inherit anything. The money was forfeited once they received their conviction for first degree murder.
According to Lawyer Monthly, California’s ‘Slayer Statute’ says an individual who commits a felony resulting in the death of another is prohibited from benefiting from the victim’s estate, irrespective of their familial ties.
Erik Menendez, left, and his brother Lyle, were convicted of killing their parents in 1996 (Image: Los Angeles Times/Getty Images)
There was also a life insurance policy which was apparently taken out on Jose Menendez by his company LIVE Entertainment, however the brothers discovered it was invalid. Their father had failed to undergo the needed physical examination that the insurance provider needed.
Jose did have a personal life insurance policy of $650,000 which the brothers used for their initial spending spree.
What happened to the money?
Aside from their spending sprees, a lot of Erik and Lyle’s expenditure either fell through or were financed by other means.
Lyle spent around $90,000 on his father’s credit card and his uncle secured a loan to purchase a restaurant. The brothers attempted to buy a penthouse but the deal fell through.
Jose’s company LIVE Entertainment, footed an $8,000 bill when the brothers began living at the Bel Air Hotel and also funded limousines and bodyguards for them both.
Reports suggest that even if the brothers had been acquitted, they would not have inherited anything from the estate due to the funds being depleted by taxes and legal costs associated with the murder trial.
The Menendez family’s residence was sold at a loss, with all proceeds used to cover the , expenses, and tax liabilities.
A second property, which the family did not reside in but were refurbishing, was also sold at a loss.
Were the Menendez brothers paid for Monsters Netflix series or documentary?
There is no evidence of any financial agreement between the streaming giant and the siblings. The brothers were not involved in the production of the series, although they will contribute to the documentary through phone interviews.
In the US, ‘Son of Sam’ laws are designed to prevent convicts from profiting from their crimes, such as through book writing or films and television shows about their actions.
However, the enforcement of these laws varies from state to state and is not always successful.
The Menendez Brothers documentary is available to stream on from October 7