The former NFL star, OJ Simpsonhe died on Thursday without having paid much of the 33.5 million dollars awarded by a California civil jury for the loss of his ex-wife Nicole Brown Simpson and of Ron Goldmannwoman’s friend.
Simpson, criminally exonerated in the so-called “trial of the century” for the murders of Brown and Goldman was held responsible for an unjustified deathafter a civil lawsuit in 1997.
Now Justice will be able to investigate Simpson’s personal finances with greater certainty. And families of crime victims will be more likely to collect, as long as there is something in inheritance. The situation promises to be resolved in the coming months, but the legal process is already starting to get underway.
Regardless of whether or not Simpson wrote a Want and whatever he says, his assets will almost certainly pass through what is known as a succession process in court, before his four children or other heirs can retain any assets.
Different states have different inheritance laws. Typically, the case is filed in the state where the deceased person resided. In Simpson’s case, it is Snowfall. But if there are significant resources in California OR Floridawhere he also lived several times, several cases could occur.
Nevada law states that an estate must go to court if its assets exceed $20,000 or if anything is involved. property. And this must happen within the first 30 days of death. If a family fails to submit documents to the court, the creditors themselves can initiate the process.
The Goldman and Brown families, with strengthened arguments
Once the case gets to court, the creditors They can persecute a part of the assets. The Goldman and Brown families will not be on a level playing field with other creditors and will probably have a stronger claim.
Under California law, creditors who have a judicial lien, such as plaintiffs in the case of unjust death, have guarantees for the payment of the debt. So they have priority on those with unsecured debts. And they are in a better position to receive payment than they were before the defendant’s death.
Arash Sadat, a Los Angeles lawyer who specializes in estate disputes, said it was “100% better” for the plaintiff that the debtor was deceased and that the money was in probate. He added that his firm held a trial in which his clients obtained a $9 million judgment, which was challenged by the debtor and postponed several times.
“He did everything he could to avoid paying this debt,” Sadat said. “Three or four years later he died. And within a few weeks the heirs handed over a check for 12 million dollars, more than 9 million in interest accumulated over that period.”
The executor has a greater incentive to settle debts than the person’s life. “That’s why you see these things happening more,” Sadat said. But this obviously does not mean that payment will arrive.
“I think it’s going to be a little difficult for them to get it,” said Christopher Melcher, another attorney not involved in the case. And he explained: “We don’t know how much OJ has managed to earn in recent years.”
Doubts and certainties about OJ Simpson’s fortune
Simpson said he lived on his pensions, private and from the NFL. According to the jury’s decision, hundreds of valuable items were seized. Additionally, the former American football star was forced to auction off his Heisman Trophy, raising $230,000.
Fred Goldman, Goldman’s father and lead plaintiff, said the issue was never about money, but rather about holding Simpson accountable. In a statement Thursday, he said that with Simpson’s death, “the hope for real accountability has disappeared.”
What about trusts? There are ways in which a person can use trusts established during his or her lifetime, as well as other methods, to ensure that chosen heirs receive assets upon death. If that trust is irrevocable, it can be especially strong.
However, transfers of assets to others, made to avoid creditors, can be considered fraudulent. And whistleblowers like the Goldman and Brown families can file separate civil suits that include those assets in the dispute. The battle has only just begun and the work of lawyers and their accounting teams will be essential.
Source: Clarin
Jason Root is the go-to source for sports coverage at News Rebeat. With a passion for athletics and an in-depth knowledge of the latest sports trends, Jason provides comprehensive and engaging analysis of the world of sports.