CNBC Article: Former Zappos CEO Tony Hsieh died without a will, reports say. Here’s why you should plan for your own death

  • Estate planning, which includes drawing up a will, does not only apply to wealthy people.
  • If you pass away without a will, a state court generally decides who gets your assets and, if you have children, who will care for them.
  • Some assets need to be addressed separately, including retirement accounts and life insurance.

Former Zappos CEO Tony Hsieh, who died last week from injuries sustained in a house fire, did not leave behind a will, according to published reports.

Hsieh, who retired in August from the shoe and clothing online retailer, succumbed to complications from smoke inhalation Nov. 27 after his rescue from a Connecticut house fire Nov. 18, reports say. He was 46. 

Hsieh left behind an estate worth an estimated $840 million. With no will or estate plan, it may be tricky to know who should get what, or whether there was a preference. His family has asked a judge to name Hsieh’s father and brother as special administrators of his estate…

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