McNair widow asks court to give cash to heirs

Thursday, September 30, 2010 at 5:04am
Staff reports

Mechelle McNair, the widow of former Tennessee Titans quarterback Steve McNair, wants permission to give $2.5 million from her late husband’s estate to his heirs.

The partial distribution would provide $500,000 each to five heirs, but the request filed Tuesday in Davidson County Probate Court did not name the recipients.

Likely beneficiaries include McNair’s sons, Tyler and Trenton McNair, born in Tennessee after his 1997 marriage to Mechelle, and two older sons, Steven L. McNair Jr. (known as Junior) and Steven O’Brian Koran, who were born in Mississippi.

The funds, part of nearly $20 million in assets left behind when the former Titans legend was murdered in July 2009, would come from a frozen investment account held by SEI Private Trust Co.

In December, Mechelle McNair agreed to have restrictions applied to the account while the court sorts out the estate of McNair, who left no last will.

Mechelle McNair, who is allowed to draw $10,000 per month from the account, has made two prior requests to access the restricted funds.

In March, she was granted a $120,000 payment to cover “continuing and necessary expenses” related to McNair’s estate, and in April, she was given $3.72 million to cover state and federal estate taxes.

4 Comments on this post:

By: GUARDIAN on 9/30/10 at 8:51

Give the family the money it's been 2 years. I hate it when a Trust stalls and try to steal more of they people's money. Please notice "$3.72 million to cover state and federal estate taxes." This is bull the money had already been taxed the state and feds should feel shame but they have none.

By: Loretta Bridge on 9/30/10 at 8:57

This just tells me that if I have have a boat load of money I should ask my attorney
how to put a lot of it away so that it will be instantly available to my family before they have to go through all this bull.

By: SirKnight on 9/30/10 at 9:04

A perfect example of why parents should sit down and plan their 'exit strategy' in case they die too soon. A couple of hours of legal advice would have helped easily avoid every single step Mechelle is having to take and leave the probate courts out of the picture entirely! Steve had no will and left a huge mess for his heirs to deal with. Over a year later and STILL none have them have a received a dime (other than Mechelle's monthly support checks).

Even if you only have a $100,000 worth of assets and whether you are single, divorced or married, you still should get legal advice on what you want to happen to your children financially if you die suddenly. Your legal instructions must be executed by the specific person (friend or family member) you designate.

For example, I currently have an Irrevocable Living Trust. In the event of my death, my brother assumes control of my assets as my survivor-trustee and he MUST follow my orders to provide for my three kids' well-being as well as fund their college educations. It totally excludes the probate court and my ex-spouse from controlling or handling any thing I own. I strongly recommend you get a will or a trust set up today to help your survivors avoid the legalities that Mrs. McNair has to go through.

By: fightcrib on 10/1/10 at 8:51

Here is my take on the situation. The cash should go to Dave and Buster's to teach proper gun responsibility and safety. And Dave and Buster's had done this, than their employees would not have gone Busting caps into domes.

Fightcrib, BNA