Mcnair did not have a will. Watch this get nasty..........
- Thread starter cowbell9
- Start date
...it really depends on the state of residence but the problem is THE COURT WILL DECIDE.
If you have anything and dont have a will, you are an idiot.
If you have anything and dont have a will, you are an idiot.
who feel the need to espouse legal knowledge, please stop.
1. An intestate estate (no will) controls ONLY the assets that are not "otherwise effectively disposed of" at death.
2. A testate estate (there is a will) controls ONLY the assets that are not "otherwise effectively disposed of" at death.
3. Are you seeing a pattern here?
4. There are ways to structure ownership of assets such that they are "otherwise effectively disposed of" at death. Assets that are "otherwise effectively disposed of" are not included in an estate for purposes of distribution (their value may be included for estate tax calculations). Ever heard of a living trust?
5. Professional athletes have estate planning services dumped in their lap and much of those services is "thrown in" as part of their financial consultant's services.
6. Raise your hand if you think McNair's estate will be composed of anything more than a fubu hat, a cane pole and 5 gallon bucket, and a case of colt 45.
1. An intestate estate (no will) controls ONLY the assets that are not "otherwise effectively disposed of" at death.
2. A testate estate (there is a will) controls ONLY the assets that are not "otherwise effectively disposed of" at death.
3. Are you seeing a pattern here?
4. There are ways to structure ownership of assets such that they are "otherwise effectively disposed of" at death. Assets that are "otherwise effectively disposed of" are not included in an estate for purposes of distribution (their value may be included for estate tax calculations). Ever heard of a living trust?
5. Professional athletes have estate planning services dumped in their lap and much of those services is "thrown in" as part of their financial consultant's services.
6. Raise your hand if you think McNair's estate will be composed of anything more than a fubu hat, a cane pole and 5 gallon bucket, and a case of colt 45.
He could have set up his brokerage and bank accounts with beneficiaries named so that part is not an issue. Property is a different animal.