Deceased “Sopranos” star James Gandolfini’s will is “a disaster” that could see over $30 million of his estimated $70 million estate go to the government.
“It’s a nightmare from a tax standpoint,” said William Zabel, an estate lawyer.
The 51-year-old’s “big mistake” was leaving 80% of his estate to his sisters and his 9-month-old daughter, Zabel said.
That made 80% of the estate subject to “death taxes” of about 55%, and the bill is due in nine months, Zabel said.
Gandolfini passed on most of his estate to his children. When he turns 21, Michael will receive a trust including a downtown Manhattan apartment (with a parking space) and his father’s clothing and jewelry. He and his half-sister will also split Gandolfini’s property in Italy when she turns 25. “It is my hope and desire that they will continue to own said property and keep it in our family for as long as possible,” the HBO star wrote in the will.