Estate Planning Errors of an NFL Quarterback
It has been over two years since the tragic death of NFL quarterback Steve McNair. Since that time, the handling of McNair's estate has been the topic of public media due to his complete failure to properly estate plan. Unfortunately for McNair and his family, his estate has become an example of the importance of proper estate planning.
When McNair became a highly paid NFL star, he built his mother, Lucille McNair, a dream home. The home is a 45 acre ranch in Collins, Mississippi. McNair's mother always believed the home to be hers and a gift from her son, but title to the property was held in Steve McNair's name. As a result, upon Steve McNair's unexpected death, the property became part of his estate. An estate Steve McNair left behind without a will, trust, or any form of estate plan.
Upon Steve's death, his wife, Mechele McNair, acts as executor of the estate. Recently, Mechele had her attorneys request Lucille pay $3,000 per month as rent for use of the property. With no means to pay, Lucille had no choice but to leave her dream property. Only adding to her troubles, on the two year anniversary of Steve McNair's death, Lucille received a demand for $53,363 for appliances and other items allegedly improperly removed by her from the home.
From this story, one can see the damage associated with failing to have an estate plan in place. Failing to leave one's estate without a will or trust can potentially destroy a family. Let this serve as notice of the importance estate planning can have where anyone holds title to a home another loved one resides in. One can only assume this was not Steve McNair's intended outcome. Should you wish to avoid a similar fate, you must proactively plan your estate.
Amir H. Afsar, Esq. is an attorney and founder of Afsar Law Group, A.P.C. which represents clients in business, real estate, construction, and estate planning matters throughout the Coachella Valley including Indio, La Quinta, Bermuda Dunes, Indian Wells, Palm Desert, Rancho Mirage, Cathedral City, Palm Springs, Banning, Joshua Tree, and other cities located within Riverside and San Bernardino County. Mr. Afsar can be reached at Afsar Law Group, A.P.C. at 760.345.3110.
"Mr. Afsar spent the time explaining my options and what effect they would have. He was very experienced in his advice and very easy to understand."Shelly, May 2011
Sign up for newsletter