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McNair died without a last will and testament, and his assets were frozen pending probate of his estate. At the current time the maximum rate of the federal estate tax is 40 percent, and here in New York we have a state-level estate tax as well.McNair’s widow took things a step further and demanded that Lucille pay over $50,000 to account for the things that she took, though the late quarterback’s mother says that these items were her personal property.Ordinary people should certainly take steps to make sure that their spouses and children are provided for, but wealthy people have yet another layer of concerns.His assets were subject to estate taxes. Because he didn’t have an estate plan he hadn’t positioned his assets with tax efficiency in mind.McNair’s surviving spouse didn’t see it this way at all because the house was in her deceased husband’s name. This is simply the human condition, and there is nothing anyone can do about it.When you draw up a last will you should consider the matter of estate administration.


He had not taken the time to execute a last will or any other type of an estate plan.Unfortunately, Lucille McNair could not produce this type of money on a monthly basis to remain in the home. He wasn’t quite as young as Jim Morrison was when he passed away, but Steve McNair was a professional athlete/celebrity who also died young.

The enormity of his death cannot be overstated. Because McNair had yet to write his will, his assets were frozen leaving the children without a means of living. We are all day to day as they say in the sports world. On March 30 Jonula "Mechelle" McNair, the widow of murdered NFL quarterback Steve McNair, asked a Tennessee probate court to allow the dispursement of over $3.7 million from her husband's estate to pay nearly $2.9 million in estate taxes owed to the IRS and over $860,000 in estate taxes owed to the state of Tennessee. She then turned the gun on herself committing suicide. The onetime football star Steve McNair was killed in 2009, and he was paid extraordinarily well as a top rate NFL quarterback for years. She was under the impression that this ranch was a permanent gift to her.The estate tax can absorb a significant percentage of the wealth that you are leaving behind if you have assets that exceed the exclusion amount. He played the majority of his NFL career as the starting quarterback for the Tennessee Titans. She moved out, and she took her belongings with her. Steve McNair. Steve McNair was born on Valentine's Day, and he died on the Fourth of July. In October 15, 2010, it was reported that McNair's widow went to a Nashville judge and asked that at least a portion of the assets be unfrozen for his children's care and expenses until the estate matters were resolved in court.

She asked $3000 a month in rent.With the Super Bowl behind us, here’s the story of a football player who did not take his estate planning game seriously. In the case of Steve McNair his widow was named the personal representative.McNair had a home built for his mother in Mississippi years before his death, a ranch that sits on 45 acres. Here was an NFL quarterback one season into retirement, a … The onetime football star Steve McNair was killed in 2009, and he was paid extraordinarily well as a top rate NFL quarterback for years.