Richard Keyt, Author at KEYTLaw

About Richard Keyt

The author of this article is Richard Keyt, an Arizona wills, trusts & estate planning attorney. See the 36 documents & services in his estate plan with a revocable living trust . He has formed 9,500+ Arizona limited liability companies. His Silver & Gold LLC packages include the $85 expedited filing fee, a custom Operating Agreement, and a 170 ebook called the Arizona LLC Operations Manual. Read Rick's 402 five-star Google, Facebook & Birdeye reviews. Connect with Richard at 480-664-7478 or send him an email at [email protected]. You can also book a free phone, office or Zoom video meeting with him or his son LLC & estate planning attorney Richard C. Keyt on his online calendar

Another Reason Not to Use Wells Fargo

An estate planning attorney friend of mine posted the following statement today to an estate planning listserve I monitor:

I just had a conversation with a Wells Fargo employee who works in the Mortgage division (Arizona). He told me it is Wells Fargo's policy not to accept any Power of Attorney after they are notified that the account owner is incapacitated. Earlier this year, a Wells Fargo advisor sat in my office with a current client. He told me the INTERNAL WF POA would work for this client's account. The purpose of this joint meeting was to ensure her plan would work because she was mentally declining. Once the client became incapacitated, Wells Fargo refused to honor its own INTERNAL power of attorney.

I recommend that nobody do business with Wells Fargo, Chase or Bank of America.

The Missing Will Mystery: How Zappos CEO’s Estate Chaos Could Have Been Avoided

Imagine this: You've built a business empire worth hundreds of millions of dollars, transformed a city's downtown area, and touched countless lives with your vision and generosity. Then, unexpectedly, you pass away—and nearly five years later, a will you may have created suddenly appears. Meanwhile, your family has been battling creditors, former associates, and mounting legal fees in a probate nightmare that has cost millions and years to manage.
This isn't the plot of a legal thriller—it's the real-life saga of Tony Hsieh, the former Zappos CEO who died in November 2020 at age 46. After years of his estate being managed under the assumption he died without a will, a document dated March 2015 mysteriously surfaced in February 2025. This surprising twist could completely upend the years of legal proceedings that have already occurred. The story serves as a powerful reminder of why proper estate planning, with regular reviews and updates, is critical no matter your age or wealth status.

Let's explore what went wrong and how a Life & Legacy Plan could have prevented such chaos.

The Perils of Traditional Estate Planning

Even if the recently discovered will is deemed valid, it raises more questions than answers. According to recent news reports the will was found among the belongings of Pir Muhammad, a man suffering from Alzheimer's disease who recently passed away. Some reviewing attorneys have described the document as having “convoluted” language and an unusual structure, though we can't know the full circumstances of its creation.

The will reportedly includes a no-contest clause directed at Hsieh's family members, meaning

Arizona Small Estate Exemption Values Increased

The Arizona legislature passed a bill signed by Governor Katie Hobbs on March 31, 2025, that amends Arizona Revised Statutes Section 14-3971 by increasing the small estate probate exemption:

from $75,000 to $200,000 for the personal property of a deceased Arizona resident.
from $100,000 to $300,000 for Arizona real estate owned by a deceased person.

This new law will take effect 90 days after the current legislative session ends.

Are You Single with a Minor Child? If So, You Need a Plan

You have a minor child who depends on you for their survival, so you need to make sure that they will be cared for if you are ever unable to care for them. By creating an estate plan, you can address your minor child’s care and custody and provide instructions about how your money and property should be used for their care should something happen to you.

Care and Custody of Your Child

Creating an estate plan allows you to name someone to care for your minor child if you are unable. A child under the age of majority (eighteen or twenty-one depending on your state law) cannot legally care for themselves (unless they have been emancipated). A guardian must be appointed to take care of the minor child if both parents have passed away or are unable to care for the child. It is important to note that if the other legal parent is still alive, that parent may receive custody of the child. However, you need to have a plan in case there is no other legal parent or the other legal parent cannot care for the child. If you do not choose a guardian, the judge will look to state law to determine the appropriate guardian, who may not be the person that you would have chosen.

How do you nominate a guardian?

There are a few different ways to nominate a guardian to care for your child after your death. First, it can be done in a last will and testament (also known as a will). In this document, you can name someone to be your child’s guardian after your death, a person to wind

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About Richard Keyt

Another Reason Not to Use Wells Fargo

The Missing Will Mystery: How Zappos CEO’s Estate Chaos Could Have Been Avoided

The Missing Will Mystery: How Zappos CEO’s Estate Chaos Could Have Been Avoided

The Perils of Traditional Estate Planning

Arizona Small Estate Exemption Values Increased

Are You Single with a Minor Child? If So, You Need a Plan

Estate Planning for Entrepreneurs and Business Owners