Attorney Jeffrey D. Katz, Esq. was recently interviewed by FOX 5 concerning how insolvent estates are handled, in which the property of the estate is insufficient to pay the debts and claims of the estate. Katz particularly speaks on the estate of OJ Simpson, who carried a large debt before his passing. He explains how Simpson placed most or all of his assets in a revocable trust in January, possibly causing very little of his assets to pass through probate. And what does pass through probate may first go toward his debts owed to the Internal Revenue Service and then the rest toward his debts owed to the Goldman family. To watch the full interview, simply click below.
