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Simpson death could put Goldman, Brown families in better position to collect

Simpson ordered to pay $33.5M in wrongful death civil suit, most remains uncollected
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FILE - Fred Goldman, father of Ron Goldman, hugs his wife Patti, as his daughter, Kim, left, reacts during the reading of the not guilty verdicts in O.J. Simpson double-murder trial in Tuesday, Oct. 3,1995, in Los Angeles. Simpson was acquitted in the murders of Goldman and Simpson含羞草研究社檚 ex-wife Nicole. Foreground is Los Angeles Police Detective Tom Lange, co-lead investigator in the case. Simpson, the decorated football superstar and Hollywood actor who was acquitted of charges he killed his former wife and her friend but later found liable in a separate civil trial, has died. He was 76. (Myung J. Chun/Los Angeles Daily News via AP, Pool, File)

without having paid the lion含羞草研究社檚 share of the $33.5 million judgment a California civil jury awarded to the families of his ex-wife Nicole Brown Simpson and her friend .

Acquitted at a criminal trial, Simpson was found liable by jurors in a 1997 wrongful death lawsuit.

The public is now likely to get a closer look Simpson含羞草研究社檚 finances, and the families are likely to have a better shot at collecting 含羞草研究社 if there is anything to collect.

Here含羞草研究社檚 how the next few months may play out.

THE PROBATE PROCESS

Whether or not he left behind a will, and whatever that document says, Simpson含羞草研究社檚 assets will now almost certainly have to go through what含羞草研究社檚 known as the probate process in court before his four children or other intended heirs can collect on any of them.

Different states have different probate laws. Generally, the case is filed in the state where the person was living when they died. In Simpson含羞草研究社檚 case that含羞草研究社檚 Nevada. But if significant assets are in California or Florida, where he also lived at various times, separate cases could emerge there.

Nevada law says an estate must go through the courts if its assets exceed $20,000, or if any real estate is involved, and this must be done within 30 days of the death. If a family fails to file documents, creditors themselves can begin the process.

A STRONGER CLAIM IN DEATH?

Once the case is in court, creditors who say they are owed money can then seek a piece of the assets. The Goldman and Brown families will be on at least equal footing with other creditors, and will probably have an even stronger claim.

Under California law, creditors holding a judgment lien like the plaintiffs in the wrongful death case are deemed to have secured debt, and have priority over creditors with unsecured debt. And they are in a better position to get paid than they were before the defendant含羞草研究社檚 death.

Arash Sadat, a Los Angeles attorney who specializes in property disputes, says it is 含羞草研究社100%含羞草研究社 better for the claimant to have the debtor be deceased and their money in probate.

He said his firm had a jury trial where their clients got a $9 million jury award that the debtor appealed and delayed endlessly.

含羞草研究社滺e did everything he could to avoid paying this debt,含羞草研究社 Sadat said. 含羞草研究社淭hree or four years later, he died. And within weeks, the estate cuts a check for $12 million. That含羞草研究社檚 the $9 million plus interest that I had accrued over this time.含羞草研究社

The executor or administrator of the estate has much more of an incentive to dispense with debts than the living person does. 含羞草研究社淭hat含羞草研究社檚 why you see things like that happening,含羞草研究社 Sadat said.

But of course that doesn含羞草研究社檛 mean payment will be forthcoming.

含羞草研究社淚 do think it含羞草研究社檚 going to be quite difficult for them to collect,含羞草研究社 attorney Christopher Melcher said. 含羞草研究社淲e don含羞草研究社檛 know what O.J. has been able to earn over the years.含羞草研究社

Neither Sadat nor Melcher is involved with the Simpson estate or the court case.

WHAT ASSETS DID SIMPSON HAVE?

Simpson said he lived only on his NFL and private pensions. Hundreds of valuable possessions were seized as part of the jury award, and Simpson was forced to auction his Heisman Trophy, fetching $230,000.

Goldman含羞草研究社檚 father , the lead plaintiff, always said the issue was never the money, it was only about holding Simpson responsible. And he said in a statement Thursday that with , 含羞草研究社渢he hope for true accountability has ended.含羞草研究社

WHAT ABOUT TRUSTS?

There are ways that a person can use trusts established during their life and other methods to make sure their chosen heirs get their assets in death. If such a trust is irrevocable, it can be especially strong.

But transfers of assets to others that are made to avoid creditors can be deemed fraudulent, and claimants like the Goldman and Brown families can file separate civil lawsuits that bring those assets into dispute.

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