Originally posted by Mike Mitchell:
quote:
Originally posted by crbutler:
The guy was OJ's lawyer in all of this.
He's trying to look out for his clients and follow their wishes. I thought that is what lawyers were supposed to do?
As long as he stays within the bounds of the law, why are you offended by him in that regard? I do get that he is saying things about a dead man's family that are offensive.
Now, the question is, why did the courts allow OJ to hide/keep so many assets in the face of the previous settlement?
And, I don't know the answer as to why OJ was able to live out his years in relative comfort after he got out of prison.
State law and bankruptcy provide some protection to debtors and exempts certain assets from being executed upon by judgment creditors. In Texas, there's thing called the Homestead Exemption. The only person/entity that can typically execute on a person's home due to the entry of a judgment is the bank or lender that holds any purchase money security interest in the home....the mortgage. Otherwise, the homestead (your house) is exempt from execution by your creditors.
Texas has a long list of exemptions. Or, they used to when I was in law school. Includes livestock, guns, etc. Here's a partial list of things a creditor can't take from the debtor per Google:
One vehicle for each member of the family with a driver's license
Professionally prescribed health aids
Religious bible or other sacred religious book
Other property can also be protected, but the maximum value of the following items in total is $50,000 for an individual (or $100,000 for a family)
Home furnishings, including family heirlooms
Food and similar items for consumption
Farming or ranching vehicles and implements
Tools and equipment used for a job
Clothes
Jewelry (up to a total value of $12,500 for a single person or $25,000 for a family)
2 firearms
Athletic and sporting equipment
2 horses, mules, or donkeys with food and riding equipment
12 head of cattle with food
60 head of other livestock with food
120 fowl with food
Household pets