Not familiar with estate planning, originally read all assets go to OJ's children. Goldman's certainly will contest, are Goldman's legal debtors, are debtors paid before heirs no matter how tight the will. Contention is OJ illegally transferred assets to family and family did not pay fair value. Interested in legal opinions.
OJ Estate Lawyers who gets the money
- Thread starter psulongago
- Start date
the lawyers.
I am not sure and will be interested in any legal comments. As I understand it, OJ hid a lot of money so that the Goldman's couldn't get it. I do believe that some income, like pensions, were hands-off because the law doesn't want people to be homeless. But those probably end upon his death (like his player's retirement). I have also heard he lived a lot of his life getting cash for autographs and memorabilia that was done under the table and not reported.
I am not sure and will be interested in any legal comments. As I understand it, OJ hid a lot of money so that the Goldman's couldn't get it. I do believe that some income, like pensions, were hands-off because the law doesn't want people to be homeless. But those probably end upon his death (like his player's retirement). I have also heard he lived a lot of his life getting cash for autographs and memorabilia that was done under the table and not reported.
I knew about pensions and suspected retirement funds could not be touched. Recall Goldman complaints about OJ receiving cash. Also believe OJ lived in a friend's home and drove someone else's Bentley. At this point what could OJ have left in assets? Suspect Goldman will overspend to find any nickles.
We had an OJ rookie card
Generally, administration expenses, taxes and general creditors (in that order) get paid before beneficiaries. The Goldmans are general creditors. However, pension plans, retirement accounts and life insurance proceeds are usually exempt from creditors (depending on state laws). Other assets may be exempt as well depending on state law (i.e. homestead and annuities are exempt from creditors in Florida). These exemptions do not apply to the IRS which can attach just about any asset.
Fraudulent transfer laws (depending on state law once again) can apply to transfers to family members for less than fair market value. Generally, the person looking to establish a fraudulent transfer must establish that the transfer was for less than fair market value and done with the primary intent to avoid creditors. If successful (can sometimes be difficult to prove intent), the transaction can be reversed. Statute of limitations can be a hurdle if the transfer occurred a long time ago.
One of the interesting things that I saw was that the Executor (OJ's attorney was named his Executor) stated he would make sure the Goldmans would get nothing. The Executor generally owes fiduciary duties to both creditors and beneficiaries and is not allowed to favor one over the other. It would be a breach of fiduciary duty for him to favor the beneficiaries over creditors of the Estate. He has since walked back the statement but you get the idea of where his mind is at.
Last edited:
In a just America, creeps like that attorney (redundant) executor should lose their license.
There used to be a skit on Saturday Night Live where Picaso would go out to dinner and pay by just signing his name because he was, well, Picaso. I suspect that may of these stars never pay for anything. My brother-in-law knows Shaquille O'Neal and was asked to help him find a temporary home when he was traded to the Cavaliers. A young Dr. was just finishing the build of a new home (it had a basketball hoop in the basement) and instead of moving in, loaned it to Shaq for the year. The only proviso was he had to pay some really small fee (like a dollar) and pay for any damages. He also asked Shaq to give him two tickets to every game, IIRC. The home doubled in value since it was "the home that Shaq lived in." The Dr. retained his high end condo in the city and sold the home without ever moving into it and built another down the street.
