Kent Larsson writes about the proper use of wills, advance directives, trusts, and other estate planning tools, and how how they play a vital role in you receiving proper medical care and helping you to preserve and pass on your assets to your loved ones.
Las Vegas killer leaves large estate, but fair compensation for the victims will be a challenge.
Despite a hefty estate of $5 million left behind, it will be difficult to compensate the victims of Las Vegas mass shooter Stephen Paddock, according to The New York Times in "The Las Vegas Gunman Was Rich. Will His Wealth Go to the Victims?"
It still is not known exactly why mass murder Stephen Paddock decided to shoot at Las Vegas concert goers from his hotel window. He was relatively well-off and had not been in trouble as far as anyone knows.
Despite the mystery surrounding his motivations, his victims and their families would like to be compensated for his actions.
His estate is worth approximately $5 million. That money would ordinarily go to his mother, since Paddock is not known to have had an estate plan. However, Paddock's family has indicated they have no interest in his estate.
There are some challenges to making sure that all the money goes to the victims.
The first is that the estate could be rolled into an existing victims' compensation fund that has already raised $22 million. However, all of the victims might not be eligible for compensation under the fund's rules.
The second challenge is that many victims are filing independent claims and lawsuits to the estate.
Reference: New York Times (Dec. 23, 2017) "The Las Vegas Gunman Was Rich. Will His Wealth Go to the Victims?"