- 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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