I am sitting at my desk on this lovely Saturday morning which is not my norm. With nobody else here I have Pandora playing in the background. It got me thinking have these artists connected their royalties to their living trusts?
Hey, when you do estate planning for a living everything gets back to probate and estate planning in some way!
So, let’s say you wrote a book, recorded an album, acted in a movie or whatever else it may be that created a residual or royalty. I have worked with many clients with these type of things. Am working with one right now who, interestingly, was the producer of some rather obscure rap music songs in the late 80′s or early 90′s. They were never huge sellers but they continue to sell… world wide. Sure at some point that trail may end but for now it continues and thus it’s important to get that into a trust.
If you don’t get your intellectual property rights into a trust it can be difficult for your family to get it after death. It can require a costly and long probate.
Here in California we have a lot of clients with royalties and residuals. Thus we are familiar with what is needed to get them connected to a trust.
Contact me to discuss your case personally or review our website at www.californiaprobate.info for more information.