The potential high number of claims against the Las Vegas shooter’s estate, has the court worried that there will not be enough money to compensate everyone.

The mass shooting in Las Vegas was unusual, in that it produced the most fatalities of any such incident in the history of the U.S. It was also unusual that shooter Stephen Paddock left behind an estate valued at approximately $5 million.

The good news is that means there is money in the estate to provide some compensation for victims and their families. However, there are so many potential claims against the estate, that the judge in charge of overseeing it is worried that paying any early claimants might leave later claimants uncompensated.

Fox News reported on this concern in “Las Vegas gunman Stephen Paddock’s $5M estate to be settled in court, judge says.”

The judge has ordered that attorneys for the victims develop and plan how the estate can be administered, so all victims and their families are fairly compensated. The plan is due by Jan. 31, 2018.

The court plans to appoint someone to administer the estate in a later hearing.

Paddock’s surviving family members have indicated that they want nothing to do with his estate and that the assets should be given to his victims.

Developing a plan to compensate everyone fairly will be challenging for the attorneys. There is not likely to be enough money for everyone to get what they think they should.

The attorneys and the judge should be able to come up with a plan that at least treats everyone compassionately and equitably.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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