Real estate mogul Brandon Miller was able to leave his influencer widow millions in insurance money despite his death by suicide, while secretly facing nearly $34 million in debt.
Mama & Tata blogger Candice Miller, 42, was paid $15 million following her husband’s suicide at their Hamptons mansion over the summer, it was reported The New York Times.
While insurance companies do not typically pay out policies in the event of suicide, that exclusion typically only lasts two years after the policy is purchased, according to industry experts.
Miller, who had only $8,000 in his bank account when he died, said in his suicide note that the policies could be used to help pay off his debts.
But Candice is reportedly still dealing with the fallout from the financial mess her husband left behind, as she may still be in millions of dollars in debt.
The socialite’s life was turned upside down in July when her husband committed suicide at age 43 by inhaling carbon monoxide inside the garage of their Hamptons mansion while she and their daughters were traveling in Europe.
Candice already agreed to pay about $4 million to settle a lawsuit over an unpaid loan in August, according to the Times. Candice has also been sued for $194,881.89 in unpaid rent on the $47,000-a-month Park Avenue apartment she shared with her family. She is contesting the lawsuit, arguing that she did not personally sign the lease.
Last week, Candice sold her Water Mill mansion in the Hamptons, Miller’s main asset. It had been listed for $15.5 million in August, but it is unclear how much it sold for.
Real estate mogul Brandon Miller was able to leave his influential widow Candice $14 million in insurance money despite his death by suicide in July.
Candice sold her Water Mill mansion in the Hamptons, Miller’s main asset. It had been listed for $15.5 million in August, but it is unclear how much it sold for.
However, Candice likely won’t see much of that money, since a large portion of Miller’s debts came from the property, which had five mortgages totaling nearly $12 million.
Meanwhile, it emerged that Miller’s mother Barbara died at the age of 81 earlier this month, with her family saying she died of a “broken heart.”
“Our beautiful Barbara passed away heartbroken and we are desperately trying to find comfort and peace knowing that she has been reunited with her loving husband, Michael, and her precious son, Brandon,” her daughter Maurley Miller said in a statement. to the Times.
‘The tragedy my family has suffered over the last few months has been absolutely devastating. The pain is indescribable.”
Candice, known for flaunting her life as part of New York’s wealthiest circles, has filed a bond petition detailing four outstanding loans on the property, including a $2 million mortgage from Titan Capital, which also recently sued it for late payments.
Beyond the real estate debt, Brandon had a substantial $11.3 million unsecured loan from BMO Bank. Additionally, he owed more than $6 million to Donald Jaffe, a lender who had previously financed Miller and his father on several projects. Jaffe is still pursuing legal action to recover the unpaid balance.
Other creditors include American Express and Funding Club, a Brooklyn-based cash advance lender, to whom Brandon owed more than $300,000 and $266,000, respectively.
After her husband ended his own life on July 3, Miller sought a new beginning with her two daughters in Miami Beach.
The socialite’s life took a turn in July when her husband committed suicide at age 43 by inhaling carbon monoxide inside the garage of their Hamptons mansion.
In a suicide note, the father explained that a crucial last-minute business deal had fallen through, leaving him feeling like he had no way out.
Candice moved to Miami Beach shortly after her husband’s suicide and now lives in a multimillion-dollar condominium owned by a member of the von Fürstenberg family. .
His now-defunct Mama & Tata account frequently featured lavish displays of wealth that included extravagant parties, designer clothing and luxury getaways.