Learn From the Expensive Mistakes & Smart Decisions Made By Actor James Gandolfini In Planning for His Estate

August 13, 2013

James Gandolfini, the actor best known for his portrayal of Tony Soprano on HBO’s The Sopranos, died suddenly last month while on vacation in Italy. His will is already on the Internet, available for everyone to read – which is the first lesson we should all take away from what he did and did not do right in his estate plan: establishing a trust keeps your private financial matters private!

Estate planning attorney Julie Garber, who writes a column on Wills & Estate Planning on About.com, lists 5 other estate planning lessons learned from James Gandolfini:

Lifetime trusts are often better for beneficiaries. James Gandolfini’s 13-year-old son and infant daughter will inherit a large portion each of the actor’s estimated $70 million estate once they reach the age of 21. It may have been better to establish lifetime trusts for each of the children, then making them co-trustees at 25 or 30, then sole trustees at the more mature age of 35 or 40. This would have protected their inherited assets for life, from creditors, bankruptcy, lawsuits and divorce.


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