O.J. Simpson passed away without settling the majority of the $33.5 million judgment awarded to the families of Nicole Brown Simpson and Ron Goldman. Although acquitted in a criminal trial, Simpson was found liable in a 1997 wrongful death lawsuit.
Following his death, Simpson's finances are likely to undergo scrutiny, potentially aiding the families in collecting the owed amount, if feasible.
The probate process will now come into play, necessitating Simpson's assets to go through court proceedings before his heirs can access them. The probate laws vary by state, with Nevada likely being the primary location for Simpson's case, but separate cases could arise in California or Florida if significant assets are present there.
Creditors can stake their claims on the assets during the probate process. The Goldman and Brown families, holding a judgment lien, are in a favorable position compared to other creditors, increasing their chances of receiving payment.
Legal experts suggest that creditors have a better chance of collecting from a deceased debtor's estate due to the executor or administrator's incentive to settle debts promptly.
However, the actual collection of the owed amount remains uncertain, as Simpson's earnings and assets over the years are unknown.
Simpson claimed to rely solely on his NFL and private pensions for income. Valuable possessions were seized to fulfill the jury award, including the auctioning of his Heisman Trophy for $230,000.
Fred Goldman, the lead plaintiff, emphasized that accountability, not money, was the primary concern. With Simpson's demise, the hope for true accountability has diminished.
While trusts can safeguard assets for chosen heirs, fraudulent transfers to avoid creditors can lead to legal challenges. The Goldman and Brown families retain the option to file civil lawsuits to contest such asset transfers.
