Future of Steve Jobs' $6.7 Billion Wealth Likely to Remain as Private As He Was
This year, an individual can give away $5 million with no estate taxes. If Jobs properly planned, he and his wife could pass on $10 million without estate taxes. Outside of that limit, depending on the charitable planning, his estate could be taxed at 35 cents on the dollar, said Mayoras.
"I'm assuming not only did he do general estate planning, but also charitable planning with lots of trusts in place to protect some assets," she said.
Jobs and his family lived in the small, wealthy town of Woodside, Calif., about 17 miles from Apple's headquarters in Cupertino in Silicon Valley.
In February, Jobs demolished his Spanish colonial mansion to make way for a smaller residence, despite attempts from a preservation group to relocate the 86-year old historical home. According to the San Francisco Chronicle, Jobs bought the mansion in 1984, lived in it for 10 years, rented it, then left it vacant since 2000.
Jobs was not known to have a luxurious lifestyle, often donning his signature black turtleneck, jeans and sneakers during most product presentations.
Bajarin said Jobs' home was beautiful but "not extravagant." He said Jobs was not frugal but the only splurge he recalled was his private plane.
"That was more than necessary given the size of the company and many companies do similar things," Bajarin said.
In 1993, Jobs told the Wall Street Journal: "Being the richest man in the cemetery doesn't matter to me…Going to bed at night saying we've done something wonderful…that's what matters to me."
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