A mysterious will mailed to a Las Vegas courthouse has thrown the future of a late visionary’s $500-million estate into chaos — and no one seems to know where it came from.
It may sound like the plot for a blockbuster movie, but it’s the real-life legacy of late Zappos founder Tony Hsieh.
Must Read
- Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don’t have to deal with tenants or fix freezers. Here’s how
- I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and 3 simple steps to fix it ASAP
His next of kin thought Hsieh, who succumbed to injuries following a 2020 house fire, died without a will. His father Richard Hsieh has been acting as his executor.
But this year, out of the blue, a man identifying himself as Kashif Singh claimed to have found a copy of Hsieh’s will in the possession of his deceased grandfather Pir Muhammad. According to Las Vegas-based KTNV, he sent the document to a Las Vegas courtroom. (1)
According to the New York Post, the document names Kashif Singh and Pir Muhammad as heirs and transfers more than $50 million and several Las Vegas properties to unnamed trusts. It also includes a chilling clause: if any family member contests it, they get nothing. (2)
Richard Hsieh’s lawyers have been unable to locate details about Singh and Muhammad, or confirm whether the will is valid.
But while Las Vegas courtroom judge Gloria Sturman described the circumstances as “very odd,” she stressed that doesn’t mean the will is not valid.
Experts say this is a powerful example of why it’s important to make sure your will is up to date and in safe hands — or your loved ones could face confusion, taxes and costly legal battles.
Why it’s important to have a valid will in place
Having a complete, clearly written will isn’t just about protecting assets; it’s about protecting relationships, avoiding expensive disputes and giving your loved ones the peace of mind that they’re carrying out your final wishes as you intended.
If you die intestate (without a will), a probate court — not you — will decide who inherits your assets. This varies according to state law. Typically, it means your property will pass to your spouse, children, or other family members.
Read more: How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
As the American Bar Association notes, a proper will can expedite the probate process and will ensure assets go to beneficiaries in keeping with your wishes. It can also minimize estate taxes. (3)
Wills aren’t just for the wealthy. Even if you have a modest estate, it’s worth doing thorough estate planning to head off tax and legal complications upon your death. (4)
What to include in a will
While having a will is important, not all wills are created equal.
To prepare an effective will, consider working with an estate planning attorney, ideally one licensed in your state and verified through the American College of Trust and Estate Counsel (ACTEC) or the National Association of Estate Planners & Councils (NAEPC).
They can help you avoid common pitfalls like missing witnesses or improper notarization.
Attorneys can also help you to create living wills, powers of attorney and revocable trusts, which can help simplify things for your loved ones.
A good will should:
- List full legal names. All beneficiaries and executors should be fully named to avoid disputes or misidentification.
- Specify who receives what. Whether it’s major real estate holdings or sentimental items like jewelry or family heirlooms, the will should identify who gets what and be highly specific about the assets in question.
- Include ‘what if’ scenarios. The will should include clauses about what should happen to assets in certain situations, such as if your primary beneficiary or executor dies before you.
- Account for debts, taxes, and final expenses. The estate shouldn’t be burdened with unexpected costs.
- Be reviewed regularly. It’s a good idea to review your will every three to five years, or after major life events like marriage, divorce or the purchase of property.
A well-written will isn’t enough if no one knows it exists or where to find it.
Be open and talk about your plans with your loved ones and beneficiaries so they understand your wishes.
Make sure your executor knows where important documents are stored, whether that’s in a safe deposit box, a secure digital vault, or your attorney’s office.
Mysteries are fun to watch on TV, but when it comes to a loved one’s death, they’re not fun to live out in real life. Avoid the drama with a proper will.
Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
ABC 13 News (1); New York Post (2); American Bar Association (3); U.S. Bank (4)
What to read next
- Warren Buffett says you can’t buy time — but landlords are finding a way. Here’s how savvy real estate investors are avoiding 12 hours a month in tedious admin (for free)
- There’s still a 35% chance of a recession hitting the American economy this year — protect your retirement savings with these 5 essential money moves ASAP
- This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchase. Here’s how to buy the coveted asset in bulk
- Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
Join 200,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.