The Menendez fortune was largely depleted through legal fees and civil suits following the murder of Jose and Kitty Menendez by their sons, Lyle and Erik.
Jose Menendez, a successful entertainment executive, had amassed considerable wealth during his lifetime. However, after he and his wife, Kitty, were murdered by their sons in 1989, the family’s financial situation took a drastic turn. The Menendez brothers were arrested and charged with the murders, leading to a highly publicized trial.
The legal battle that ensued was lengthy and costly. Both brothers hired expensive defense teams, which significantly drained their inheritance. The first trial ended in two deadlocked juries, necessitating a second trial. In the second trial, both Lyle and Erik were convicted of first-degree murder and sentenced to life in prison without the possibility of parole.
In addition to the legal fees, the brothers faced civil suits from family members seeking damages. The remaining assets of the Menendez estate were tied up in probate and eventually settled to pay various creditors and claimants. The opulent lifestyle and the substantial wealth that the Menendez family once enjoyed were virtually wiped out by the costs associated with the criminal trials and the aftermath of the brothers’ convictions.