Upon Ryan's death, the following assets were valued:

Personal belongings $450,000 FMV

Investment in stocks and bonds $17,300,000 FMV

Insurance proceeds on a policy on his life.

His niece is the beneficiary. Ryan possessed the right to change beneficiaries, which was never exercised. $600,000 FMV

Corpus of a trust. Ryan possessed the right to appoint the ownership of the Trust's corpus and income only to his children. $900,000 FMV

In addition, Ryan had personal debts of $60,000 and his estate incurred funeral expenses of $15,000 and legal/accounting fees of $35,000 (not deducted on the fiduciary income tax return). Ryan's will provides for $200,000 bequest to the American Heart Association, with all other assets passing to his children. Compute Ryan's taxable estate.