Not long after the untimely death of “Sopranos” actor James Gandolfini at the age of 51, experts have been pouring over his will. A recent article discusses several estate planning mistakes experts have found in Gandolfini’s will. One lesson is to consider the ages of your children carefully when structuring their inheritance. In Gandolfini’s will, his baby daughter is set to receive a significant amount of assets when she reaches the age of 21. Many people believe that those in their 20s and even early 30s are not prepared to receive such significant assets. Consider at what age you believe your child will be mature enough to responsibly handle his or her inheritance. Next, remember that property held internationally may be treated under international laws that conflict with the terms of your will. In Gandolfini’s will, he left his Italian property to his son and daughter. They are to receive the property when the daughter, who is now a baby, turns 25. This may not be the case, however, because Gandolfini’s will may be overridden by Italian property laws. Instead, a share of the property may go to Gandolfini’s spouse. Finally, if you are concerned about the tax bill on your estate, consider making tax efficient gifts or lifetime transfers. One way Gandolfini did this was to create a life insurance trust for his son. This was a highly tax efficient way to transfer approximately $7 million to his son. For expert assistance crafting your will, please contact us at 818.956.9200.