2024-04-12 18:45:00
The former NFL star, OJ Simpsondied on Thursday without having paid a good part of the 33.5 million dollars awarded by a California civil jury to the bereaved of his ex-wife Nicole Brown Simpson and of Ron Goldmanfriend of the woman.
Criminally exonerated from the so-called “Trial of the Century” for the murders of Brown and Goldman, Simpson was found responsible for an unjustified deathfollowing a civil lawsuit in 1997.
Now, Justice will be able to delve with greater certainty into Simpson’s personal finances. And the families of crime victims will be more likely to collect, as long as there is something left as an inheritance. The situation promises to be resolved in the coming months but the legal process is already beginning to get underway.
Whether or not Simpson wrote a testament and no matter what he says, his assets will almost certainly go through what is known as a succession process in court, before his four children or other heirs can keep any assets.
Different states have different probate laws. Generally, the case is filed in the state where the deceased person resided. In Simpson’s case, it is Nevada. But if there are significant assets in California o Floridawhere he also lived on several occasions, different cases might arise there.
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 be done within the first 30 days following death. If a family does not present documents to the court, the creditors themselves can begin the process.
The Goldman and Brown families, with reinforced arguments
Once the case reaches court, the creditors They can go following a part of the assets. The Goldman and Brown families will not be on equal terms with other creditors and will probably have a stronger claim.
Under California law, creditors who have a judgment lien, such as plaintiffs in the case of wrongful death, have guarantees for debt payment. They therefore have priority on those with unsecured debt. And they are in a better position to receive their payment than they were before the defendant’s death.
Arash Sadat, a Los Angeles attorney who specializes in property disputes, said it was “100% better” for the plaintiff that the debtor is deceased and the money is in probate. He added that his firm held a trial in which his clients obtained a judgment of 9 million dollars, appealed by the debtor and postponed on numerous occasions.
Nicole and OJ Simpson, along with their children Sydney and Justin in a home video. The former player has two other heirs from a first marriage.“He did everything he might to avoid paying this debt,” Sadat said. “Three or four years later, he passed away. And within weeks, the heirs delivered a check for 12 million dollars, the 9 million plus interest that had accumulated during this time.”
The executor has a greater incentive to resolve debts than the person is alive. “That’s why you see these things happening more,” Sadat said. But of course, this does not mean that a payment is coming.
“I do think it will be somewhat difficult for them to receive this,” said Christopher Melcher, another lawyer who is not involved with the case. And he explained: “We don’t know how much OJ has been able to earn in recent years.”
Doubts and certainties regarding OJ Simpson’s fortune
Simpson said he lived off his pensions, private and from the NFL. Hundreds of valuable belongings were seized as part of the jury’s ruling. In addition, the former American football star was forced to auction off his Heisman Trophy, with which he raised $230,000.
Fred Goldman, Goldman’s father and the lead plaintiff, said the issue was never regarding the money, but rather holding Simpson accountable. In a statement Thursday, he said that with Simpson’s death, “hope for true accountability is gone.”
The reaction of Ron Goldman’s family upon hearing Simpson’s sentence as “not guilty” in 1995. Photo: AP.What regarding trusts? There are ways a person can use trusts established during his or her lifetime, as well as other methods, to ensure that the heirs he chooses receive the assets following his death. If that trust is irrevocable, it can be especially strong.
However, transfers of assets to others, carried out to avoid creditors, can be considered fraudulent. And whistleblowers like the Goldman and Brown families can file separate civil lawsuits that include those assets in the dispute. The battle has just begun, and the work of lawyers and their accounting teams will be essential.
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