What happens to their money when they die?

I always wondered what happens to these guys' money when they die. Examples: Lucky Luciano, Don Carlo, Albert Anastasia, John Gotti, etc... Luciano wasn't married, who did he leave his fortune to? Guys like Anastasia and Gambino, are their families set for life for generations to come? These guys are multi-millionaires illegally and a little legally. Wouldn't the IRS be watching their family's bank accounts and financial activity following the man's death? Does some offshore bank swallow all of this money? Everyone knows that when Lansky died he had no money, but what about the other guys? I apologize in advance if this has been covered in the past, but I couldn't find anything using the search.

It is hard to say with any certainty, especially since the heirs and beneficiaries are not going public explaining how they received their illegal proceeds.

Most guys try to launder some of their illegal proceeds into tangible assets during their lifetime. John Gotti Jr. owns several rental houses for example.

Often, illegal cash is used to buy gold and jewels, which are more easily stored than $2 or $3 million dollars in $10 and $20 bills. Gold and jewels can be transferred to heirs without a paper trail, and generally appreciate.

In some situations the surviving family members gets extorted by other mobsters

It is AMAZING that the government allows convicted mobsters to actually keep ill gotten gains.

I seriously don't care if they ratted on the boss of Jupiter, the facts say there is an actual reward for doing the wrong thing.

Everyone can not understand why so many people (especially young ones) would want to even enter the mafia. I thought the only way you can leave is dead or in jail for life?.......I think at the mafia induction ceremonies, all inductees are well aware of option 3 which is, to acquire as much sh*t as I possibly can, hide a lot of it and, when I get caught, have enough info to nail the guy ranked above you. Then, you get to do a light sentence AND keep some of the stuff you never would have acquired in a 9-5.......Hmmmmm! why would anyone want to do that?. I WANT TO DO IT and I AM 35...Why not? I will have more in the end!

Examples of the escape goats who lived the life and got out with gains from it:

Joe Massino - Did like 8 years AND keeping the homes of his wife and Massino's mother as well as some rental properties

Gotti Jr. as mentioned above gets to keep stuff and roam the streets.

Seems like Michael Franzese is lying to the world. I will almost bet anything that he hid money from the gas tax scam and that is why he is so cheery!

im sure the Irs would love to find the mobsters money, but, they have good financial advisers it seems. I read where joseph bonanno had cheese factories. joseph profaci had a monopoly in olive oil. the vast amounts of cash are going somewhere, and I suppose well hidden. also, I think if you were an attorney for one of those guys, you would give good advice as to what to do with the money, I don't buy into the big guys dying broke. the money is somewhere, they spend half their life making it, and the other half hiding it.

While Robert Lacey claims Lansky was basically broke at the time of his death, his daughter claims he transferred millions to his younger brother, Jake. Agreed he lost millions in Cuba but hardly broke at the time of his death.

Look what happened to gaspipe Casso's money. Some dick swindled it away from his wife.

you would think that gaspipe would have him buried.

Who'd Gotti Jr. & Michael Francese rat on? I can't recall anyone.

meyer lansky was much to smart to die broke. he for sure didn't die without passing on his millions, I agree with you.

You would be surprised how little some of their families get, attorneys fees tend to eat up a good deal of their money, and it's not like their partners in their illegal holdings are going to give an honest accounting to their families after their deaths. I know for a fact that Vito Genovese, a guy who at one time had a ton of money, did not leave much for his family. I don't think that Sam Giancana, who obviously was a huge earner, left his family with a lot of cash. Same with Angelo Bruno, I don't believe that his daughter got much after he was killed.

And then there are guys like Tony Salerno and Tony Nap and Cockeyed Nick and Matty the Horse, whose grandchildren were completely sheltered from the life and they're all millionaires today. Nothing is set in stone. There's no hard and fast "rule." If you're in that world and you care about the generational wealth that you leave behind, you do what you have to do. Of course there are other captains who die with very little. Rudy died last year and left behind nothing but debt. So again, nothing is set in stone.

He was the mafia's banker. Of course he wasn't broke.

Legend says he set up an offshore bank in Switzerland to hide money for the mob in Swiss bank accounts.

Joe Pistone said that the Commission had its own sources of money, money that wasn't kicked up because it was already up. Now we know where that money originally was hidden, some of it at least.

Switzerland.

I think back in the old days the top money men (Luciano, Lansky, Costello, et al) were sending laundered money to Switzerland. So if they didn't have a method of having a family member getting access to it, that's where it stayed.

sorry thats nothing but hear-say. if you guys want to mystify your heroes just go on that way. any serious researcher will just laugh. To joe pistone - there is no way a mob associate would've known that. hes making himself bigger as he was, as always. not trustworthy at all. please open your eyes a bit. As far as i know, based on proven facts, lansky was broke. and if you consider that he was just the bank, not the owner of the money, it makes def sense. he was out of power after cuba revoluzzed i would guess

his daughter has obv seen nothing of his millions - or do you think she would write a book if she had any monies? Thought so.

Just because he left his daughter broke doesn't mean he was broke.

Also, just because she says she was left broke, doesn't necessarily make it so.

It is the stuff of legends, but if you search online, you can even find the name of Lansky's bank. That's pretty specific.

And what Joe Pistone said about the Commission having it's own sources of money is perfectly corroborated when you study the financial structure of the Pizza Connection and how the bosses in America got their cut.