Jeffrey Epstein signed a new will on August 8 2019 — two days before his death — that poured everything he owned (valued at ≈ $577 million) into a newly-created entity called "The 1953 Trust."
The opaque structure, named for Epstein's birth year, removed the assets from the public probate file, left the beneficiaries undisclosed, and set the stage for complex litigation in the U.S. Virgin Islands (USVI) and beyond.
Status (July 2025)
All government claims and the vast bulk of survivor claims have been paid, yet ≈ $145 million remains in the trust. Beneficiaries — including at least one former girlfriend and likely Epstein's brother — cannot receive distributions until the SDNY cases conclude and the probate court approves a final accounting.
Once those hurdles clear, the 1953 Trust will either terminate and pay out or continue as a private vehicle for the named heirs.
Formation and Legal Structure
Epstein's twenty-page will references a "Trust Agreement dated August 8 2019," establishing the 1953 Trust under USVI law the same day the will was signed.
The will immediately "gifts" all real and personal property — including cash, securities, five properties, aircraft, and art — into the trust, avoiding asset-by-asset probate disclosure.
Court filings confirm that long-time advisers Darren Indyke and Richard Kahn act simultaneously as co-executors of the estate and administrators of the trust, giving them sweeping control.
Asset Transfer Mechanics
The estate inventory attached to the will lists $56 million in cash, $196 million in hedge-fund and private-equity interests, $18 million in vehicles, aircraft, and boats, plus real estate from Manhattan to New Mexico.
Because the trust is a private instrument, the identities and shares of the ultimate beneficiaries remain sealed, a fact highlighted by prosecutors and victim-advocates. Legal analysts noted that the move offered no absolute shield — creditors and victims could still sue the trustees or the trust itself.
Administration and Beneficiaries
On August 26 2019 a Certificate of Trust was filed in USVI probate court, naming Indyke and Kahn as the only known fiduciaries but disclosing no beneficiaries.
Neither the estate nor the trustees have ever made the beneficiary schedule public — court records suggest Epstein's brother Mark is a potential heir, but the trust instrument allows for additional, undisclosed classes of beneficiaries — including entities or charitable vehicles Epstein controlled.
Litigation and Challenges
The 1953 Trust is a named defendant in multiple actions. USVI's January 15 2020 racketeering complaint alleges the trust held proceeds of a trafficking "enterprise" that operated from Little St. James.
Victims also sued the estate and trust directly in federal and territorial courts, claiming fraudulent conveyance and complicity. Epstein's executors argued the trust structure was standard estate planning, yet judges repeatedly compelled limited discovery into its assets.
Settlement and Current Status
After nearly three years of litigation, USVI announced a $105 million global settlement with the estate, the 1953 Trust, and ten affiliated entities on November 30 2022. Terms require the estate to sell Little St. James and pay half the net proceeds to USVI, to fund services for trafficking survivors — the trust remains intact but must support these payments.
Separate victim-compensation efforts have distributed about $125 million, drawn from trust-controlled funds with court oversight. Beneficiary identities, if any exist beyond statutory creditors, are still undisclosed.
Timeline of Key Filings and Actions
The 1953 Trust thus operates as the estate's central holding vehicle, still obscuring beneficiary details yet now legally bound to finance settlements, tax liabilities, and victim compensation &mdash — leaving its long-term residual value uncertain.
2021–2025: Escalation, Settlements, and Winding-Down
The U.S. Virgin Islands Attorney General dramatically escalated her racketeering suit by adding co-executors Darren Indyke and Richard Kahn as individual defendants.1
Leveraging material from more than sixty third-party subpoenas, the amended complaint portrayed the pair as knowing "captains" of Epstein's enterprise — managing at least 140 bank accounts, structuring large cash withdrawals, and orchestrating payments and even sham marriages that kept victims compliant.
Converted prime real estate into cash earmarked for survivors:
- $51 million sale of the Manhattan townhouse (March)2
- $18 million sale of the Palm Beach estate (July)3
The Epstein Victims' Compensation Program closed on 9 August 2021 after awarding ≈ $125 million to ~150 claimants — 92 % of eligible survivors accepted offers.4
Court filings revealed estate assets had fallen to $166 million (from $656 million in 2019) after roughly $175 million in taxes and $150 million in victim payouts.5
At a St Thomas hearing, counsel told the judge the parties were "extraordinarily close" to resolving the government's civil-racketeering case — litigation was stayed to finalize terms.
December 2022 — Global Settlement With the USV
The estate, the 1953 Trust, and ten Epstein entities agreed to6
- $105 million cash payment to the USVI
- forfeiture of 50 % of Little St. James sale proceeds (≈ $30 million)
- $450 k for environmental remediation on Great St. James, and
- permanent wind-down of all Epstein business operations in the territory
March – August 2023 — Disposition of Remaining Real Estate
- Both Virgin Islands islands sold together for $60 million (highest sale in VI history), the government immediately received half of the Little St. James proceeds7
- The New Mexico Zorro Ranch changed hands in August 2023 (price reported ≈ $18-20 million), marking the liquidation of every major Epstein property
September 2024 — $111.6 Million IRS Refund
Because the executors had over-estimated asset values on the estate-tax return, the IRS issued a $111.6 million refund, ballooning residual estate assets to about $145 million — money now sitting inside the 1953 Trust.8
2024–2025 — Ongoing SDNY Litigation Against the Executors
Two survivors (Jane Doe 3 and Danielle Bensky) filed suits in federal court accusing Indyke and Kahn of actively facilitating sex trafficking.9 In August 2024 the judge allowed core sex-trafficking claims to proceed. Any eventual judgment could still tap trust assets, so the trustees are expected to withhold a reserve pending resolution.