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James Gandolfini, the actor who played mafioso Tony Soprano on HBO’s The Sopranos, died on June 19 of a sudden heart attack. Gandolfini had a reported net worth of $70 million. He had executed a new will in December of 2012 and had created at least one trust, for his son Michael. Although the actor clearly put some thought into estate planning, his estate will end up paying millions of dollars in federal and state estate taxes, much of which could have been delayed or reduced through the proper use of trusts and other estate planning tools.<\/p>\n
More than 80 percent of Gandolfini’s estate will be subject to federal estate taxes, at a rate of 40 percent for all assets above $5.25 million. The federal tax bill will be more than $20 million. The State of New York will also tax Gandolfini’s estate, at a rate of about 5 percent on the (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" James Gandolfini, the actor who played mafioso Tony Soprano on HBO’s The Sopranos, died on June 19 of a sudden heart attack. Gandolfini had a reported net worth of $70 million. He had executed a new will in December of…<\/span><\/p>\n