In Mr. Gandolfini’s case, the most common tag-line is that his will is a tax disaster. Here is Gandolfini’s will. Many say it dispenses his $70M estate in a clumsy and ill-advised way that lops off $30M first for the IRS. The stories should make any tax man go to the mattresses.
The New York Daily News said James Gandolfini Will a Tax ‘Disaster,’ Says Top Estate Lawyer. Lawyer William Zabel said Mr. Gandolfini’s gaffe was leaving 80% of his estate to his sisters and his 9-month-old daughter, making 80% of the estate subject to “death taxes” of about 55%. The New York Times staged A Public Debate Over the Wisdom of Gandolfini’s Will.
Despite the hype, we probably do not know the whole picture. Still, here are six lessons for everyone:
6 Estate Planning Lessons From James Gandolfini’s Will – Forbes