QUESTION
If a serial killer happens to be wealthy, what happens to their money if they are put to death?
Asked on Aug 13th, 2012 on Estate Planning - Michigan
More details to this question:
I'm writing a script for a contest and I need to know. Is it based more or less on what was in their will prior to their capture and if so could they make a last minute death row plea to change their will?
16 ANSWERS
Business Transactions Attorney serving Los Angeles, CA
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Doland & Fraade
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Answered on Jun 26th, 2013 at 12:10 AM
This depends on whether the killer has an estate plan in place. If the killer has a valid will or a trust naming specific beneficiaries, then the assets would be distributed according to the terms of this document. If the killer died with no valid estate plan in place, then his or her assets would be distributed according to the laws of intestate distribution in his or her state of residence. While I doubt a judge could justify delaying the execution, the killer would likely be allowed to meet with an estate planning attorney prior to his or her execution in order to sign a new will.
Answered on Sep 05th, 2012 at 8:39 PM
First of all, very few serial killers are wealthy and the few that might exist are unlikely to be executed because they would be able to afford top notch defense attorneys who will charge massive fees as well as expenses to avoid the death penalty.
Second, extremely wealthy people rarely have much money in their own names - they protect their assets every way they can. Third, the families or in some cases the business associates of the victims will very likely file civil suits against the killer and be awarded significant amounts for damages. Finally, I don't think any state allows a killer to profit from his or her crime so any income resulting from the murders, such as book deal, would be diverted elsewhere.
Answered on Aug 27th, 2012 at 3:25 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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Yes, the killer could make a last-minute Will. He'd just need paper and something to write with, and two witnesses to his signature.
I guess if you have a lawyer with a good general practice background attending his execution he could draft a will on the spot and have killer sign it. No oral representation changes anything that is in the Will.
In Oregon, it must be written and testator's signature witnessed by two witnesses. By the way, killer can't be wealthy by inheriting from someone he killed a murderer can't inherit.
Answered on Aug 27th, 2012 at 3:25 PM
Their victims would sue them and take every penny. The only reason you don't see more victims suing their attackers is that the kind of person who would attack someone usually doesn't have a whole lot of money to lose.
Answered on Aug 23rd, 2012 at 9:04 AM
Alternative Dispute Resolution Attorney serving Baltimore, MD
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Whiteford, Taylor & Preston L.L.P.
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Assets would pass according to the will, and the will could be amended prior to death.
Answered on Aug 23rd, 2012 at 9:03 AM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Any assets left after death would go to the estate of the deceased and be distributed by the court on a petition for administration if no will; if a will, then by the court on a petition to distribute according to the terms of the will, or in the case if a trust, and the assets have been transferred into the trust, then distribution according to the terms of the trust, and no probate.
Answered on Aug 22nd, 2012 at 5:42 PM
A serial killer will have criminal liability that can include fines or restitution depending on the state. He will also have huge civil liability. Anything left goes by his Will.
Answered on Aug 22nd, 2012 at 5:42 PM
The will stands until changed or revoked. If it is to be changed a new will will have to be executed. However, it is possible the will might be revoked in which case the estate would pass by intestate succession. For a script consider that if you murder someone can you inherit from that person by virtue of their will?
Answered on Aug 22nd, 2012 at 5:41 PM
General Practice Attorney serving Crystal Lake, IL
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Bruning & Associates, P.C.
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A serial killer's assets are distributed at death the same way anybody else's are. If they have a will or trust in place, then any assets remaining will be distributed according to that document. If they don't, it's distributed according to the default provisions under the law of the state where they lived. It's likely they can change their will or trust before they are put to death if they can get access to legal representation or draft one themselves and make their own arrangements.
Answered on Aug 22nd, 2012 at 5:40 PM
Probate Attorney serving Arlington, TX
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Law Office of Eric J. Smith
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There is nothing stopping a condemned inmate from making new wills every day they are in prison. A truly wealthy individual would probably have their assets in some form of trust or closely held corporation which would take any asset in the trust or owned by the corporation out of control of a will. Corporations can live forever, and trusts as long as there is a named or successor beneficiary or charitable beneficiary. You should also consider that the families of the victims would file civil wrongful death suits against any rich killer - see O.J. Simpson. Good luck! Probate litigation strikes me as a relatively untapped source for fiction drama, though John Grisham's The Testament is pretty good.
Answered on Aug 22nd, 2012 at 5:40 PM
Tax Attorney serving Portland, OR
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Bullivant Houser Bailey PC
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His or her money would go to the people named in the will after payment of debts and expenses. Those debts could include claims by the families of those slain. He or she could change the will before death as long as he or she has testamentary capacity which requires only that you know the natural objects of your bounty, the general nature and extent of your assets, and the effect of your will.
Answered on Aug 22nd, 2012 at 5:39 PM
Litigation Attorney serving St. Louis, MO
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Probate Law Center Richard J. Keyes, PC
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If there is no estate plan, then it would go per the laws of intestacy. If married with children by only the spouse, the spouse gets the first $20,000 and then splits the rest with the children. If no children but married, the spouse gets everything. If married but with children by someone else, the spouse and children each get 50%. In Missouri, the State has the right to go after prisoners for the the cost of incarceration. You probably don't want the assets to pass by will, but by trust so that it is private. Also, the victim's family would try to sue the killer for damages. The condemned does have the right to decide where the assets should go but you need to make sure that it is private and not public knowledge. Your best bet is a trust and not a will. Please note that a will and a trust can be changed at any time up to the date of death.
Answered on Aug 22nd, 2012 at 5:39 PM
Probate Attorney serving Palatine, IL
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Law Offices of Robert H. Glorch
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As long as the killer has mental capacity to make a Will, I don't see why he couldn't change it at any time, including from prison. No plea necessary. Of course if a serial killer is wealthy, his victims and their families would probably successfully sue him for wrongful death. It seems unlikely (and probably rare) that a serial killer would be put to death possessing significant wealth. Possible, I suppose, but rather unlikely. If there is no valid Will then the estate passes to the person's heirs. But again, victims might be able to sue him or his estate for wrongful death.
Answered on Aug 22nd, 2012 at 5:39 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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It depends on the situation. In MANY cases such as this, the court orders the convict to pay restitution to the victim's families. The judge would have wide latitude to "fashion a remedy." There is also a "Prisoner Reimbursement Act," in Michigan, which seeks to recover some of the costs of incarceration from the estate of the convict. The remainder, if any, would likely pass according to the estate planning of the convict, if any, or by state intestacy law.
Answered on Aug 22nd, 2012 at 5:38 PM
Probate Attorney serving St. Louis, MO
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Edward L. Armstrong, P.C.
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Interesting problem. It might have something to do with whether or not the wealth they have accumulated is related to killing. If the money was "blood money" that might be taken by the state. If it was wealth that was legally accumulated and had nothing to do with crime then it would be subject to the normal probate procedure (unless it was in a trust prior to death), be subject to federal estate tax and then be distributred pursuant to the terms of the will or trust.
Answered on Aug 22nd, 2012 at 5:38 PM