So, what will become of Steve Job's estimated $7 BILLION estate?
Many people are well aware of his stake in Apple, but many might not have known that Jobs had a big bite out of Disney as well. He was the single largest shareholder of Disney Co. stock estimated to be worth at least $4.4 billion. That's a huge chunk, at about 7.4% of all Disney stock.
Of course, with assets like that, it is reported that Jobs had several living trusts set up to protect these assets. California real estate records show that in 2009 he and his wife transferred, or funded, several real estate properties into different trusts. Most likely nobody outside of his immediate family and lawyers will ever really know the extent of assets that may have been funded into his trusts. Which highlights one purpose of setting up and funding a trust, to protect the privacy of your family.
Despite his large amount of wealth, Jobs family life was not unlike those of others. He had fathered a child with another woman before his current marriage. That child does not automatically have a right to claim any inheritance. Therefore, the right legal planning in advance would have been necessary for him in order to leave, or not leave, whatever assets he wanted to his daughter.
While you may not leave behind such a technological legacy as Steve Jobs has, that does not mean you should not take the same precautions in planning your estate as anyone of his wealth would do. Contact a professional Los Angeles estate litigation Attorney and create the trusts needed to protect your family's privacy and assets.
*This blog entry was not written by an Attorney and should not be constituted as professional legal advice.