Today there is much speculation about what Steve Jobs’ will reading will reveal about his life. Steve Jobs has always been very quiet and protective about his personal life and we all know that he has been very good at protecting business secrets.
I was interviewed today about what Steve Jobs’s will and the potential huge estate tax that will be paid. I think if you look at how he managed his life and businesses, it is likely that if Steve had a will, it will not be read and there will be no probate. I believe that none or almost none of his assets will pass under a traditional probate and that there will be no boom to the economy from his huge estate. Steve was married at the time he died and as such jointly held assets or those in a joint trust will probably not be subject to any estate taxes.
It is unlikely that we will hear anything in the next few months and may never know about Steve’s estate.
Forbes is reporting that Steve Jobs’s estate will probably not owe taxes also