McNair widow seeks $120k from frozen account

Wednesday, March 3, 2010 at 11:45pm
Steve-McNair.jpg

Mechelle McNair, widow of slain former Tennessee Titans quarterback Steve McNair, is seeking access to $120,000 of the funds held in a frozen investment account belonging to her husband's estate.

McNair filed a motion in Davidson County Probate Court last week asking Judge Randy Kennedy to allow her to withdraw the funds from an account at SEI Private Trust Co., based in Oaks, Pa. In December, she agreed to have restrictions applied to the account while the court sorts out the estate of McNair, who left behind assets worth nearly $20 million but no last will.

That agreement allows Mechelle McNair to draw payments of $10,000 a month. But her filing, submitted by attorney David Callahan from the Nashville office of Adams and Reese LLP and available at this link, says the estate "has continuing and necessary expenses" that have depleted its cash reserves.

"The estate is actively working to reduce and/or eliminate many of the ongoing expenses" associated with its business assets, the motion states, mentioning the defunct Gridiron 9 restaurant on Jefferson Street, a farm property in Mississippi and a company called Air McNair Inc.

A hearing on the motion is set for March 12. At present, Steve McNair's other heirs, including two children from relationships previous to his 1997 marriage, have lodged no objections to the requested encroachment on the funds.

1 Comment on this post:

By: sidneyames on 3/4/10 at 7:38

A word to every rich athlete - DO A WILL. Your family will suffer if you don't and the lawyers and state will rob your family. Sorry lawyers, don't mean to diss you all,but this is crazy. It was HER husband; it's HER money. Simple.