The story of the Menendez brothers has recently captured public interest once again with the debut of Monsters: The Lyle and Erik Menendez Story on September 19, 2024, on Netflix. This gripping nine-episode true-crime series delves into the infamous murder of José and Kitty Menendez by their sons in 1989, ultimately leading to the brothers being found guilty and sentenced to life in prison without the possibility of parole.
Throughout their trial, the Menendez brothers presented shocking revelations about years of sexual abuse by their father, but their inheritance from their parents has been a central topic of discussion since the beginning. The series uncovers the complexities of their motivations, highlighting the impact of the substantial wealth left behind by their affluent parents.
Despite their convictions, a lingering question persists: did the Menendez brothers ultimately inherit their parents’ fortune? After the murders, Lyle and Erik briefly gained access to their parents’ assets, which were valued at over $14 million in 1989.
However, their subsequent arrests, convictions, and the legal challenges regarding inheritance laws greatly affected their ability to retain this wealth. In the end, they found themselves with little to nothing.
Did the Menendez Brothers Keep Their Inheritance?
After their parents’ deaths, the Menendez brothers inherited some of their parents’ properties. In 1989, their parents owned homes in Beverly Hills and Calabasas worth approximately $14 million, which is about $36.8 million today after adjusting for inflation. However, after accounting for loans and taxes, Lyle and Erik ended up receiving around $2 million from their inheritance.
In the aftermath of their parents’ murders, the brothers engaged in extravagant spending, raising suspicions about their involvement in the crime. Erik indulged in expenses for tennis lessons and gambling, while Lyle purchased a Porsche and invested in a restaurant. Within six months, they squandered nearly $700,000, undermining their claims that they acted out of fear.
As their legal troubles intensified, so did their financial burdens. By 1994, they had accrued approximately $1.5 million in legal fees. Their inheritance quickly diminished due to these expenses, along with debts and poor financial decisions, leaving them financially destitute.
Legal Repercussions and Inheritance Forfeiture
Despite having access to their inheritance for a brief time, the Menendez brothers eventually forfeited their claims. Under California’s Slayer Statute, individuals convicted of murder cannot obtain any assets from their victims. Following their convictions for first-degree murder, Lyle and Erik were barred from accessing their parents’ estate, including life insurance payouts.
By the conclusion of the legal proceedings, most of the money had been consumed by taxes, mortgages, and attorney fees. The brothers’ Beverly Hills mansion was sold at a significant loss, along with other properties they owned. Ultimately, their parents’ remaining assets were insufficient to clear their mounting debts, leaving them virtually impoverished.
Additionally, after their father’s death, the Menendez brothers sought to claim funds from two life insurance policies taken out by José Menendez. One of these was a “key man”policy from LIVE Entertainment, intended to protect the company financially upon the death of essential personnel, which ultimately redirected the funds to the company rather than the family.
The second $15 million life insurance policy they aimed to utilize did not pan out either, as José failed to complete the necessary medical exam required for it to take effect.
Following the tragic events, the Menendez brothers led an extravagant lifestyle, acquiring a restaurant, living in a luxurious mansion, and accumulating substantial credit card debt.
Lyle Menendez, after his parents’ demise, invested heavily in a restaurant venture by purchasing Chuck’s Spring Street Café, a snack shop renowned for its fiery chicken wings. He poured an astonishing $550,000 into the business, grossly exceeding its true valuation of about $200,000.
Lyle’s ambitious plans to expand the restaurant chain even included a name change to Mr. Buffalo’s and new locations near UCLA and Rutgers, but ultimately, his dreams were dashed as the restaurant failed. Lyle’s generosity toward friends, allowing them to use the establishment, led to significant losses.
The brothers initially resided in their family’s Beverly Hills residence after their parents’ deaths, but they later relocated due to fears of potential threats from gangsters. They spent a brief period at the Bel Air Hotel before moving to rented apartments in Marina del Rey, costing $2,150 a month, with payments covered by LIVE Entertainment.
In 1991, they sold their $5.7 million Beverly Hills home, incurring a loss of $1.2 million to settle debts and legal expenses.
In the aftermath of their parents’ murders, Lyle Menendez recklessly utilized his father’s American Express card, accumulating over $90,000 in charges for luxury items, including three Rolex watches and numerous cross-country trips. Much of this spending occurred shortly after the murders, further fueling suspicion about their involvement.
Lyle’s lavish expenditures, including failed business ventures like Menendez Investment Enterprises, showcased a pattern of financial irresponsibility that swiftly depleted their inherited wealth.
Ultimately, the Menendez brothers not only lost their freedom but also saw their inherited money vanish as their parents’ estate assets were drained.
Monsters: The Lyle and Erik Menendez Story is now available for streaming on Netflix.
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