Steve Jobs died last week at age 56. With a net worth estimated at close to $7 billion, I figure his heirs don't need to worry much about estate tax. Even with a 35% tax on anything over $5 million, his family will be set for life.
Jobs was married and had three children with his wife, and another child born out of wedlock with another woman prior to his marriage. But generally speaking, the public didn't know much about Jobs' personal life. Even the details of his medical condition were not widely known. Given that he was an intensely private person, it's likely that he made arrangements to keep his estate out of the California probate court.
Like Jobs, none of know what the future holds. All Jobs' wealth, power and creativity could not prevent his early death.. The message I take from his life - and death - is to enjoy today, hope for the best, and protect your family and your finances along the way. RIP, Mr. Jobs.
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