Authors and Intellectual Property
If you’re an author or have another other creative career, have you made arrangements for what happens to your copyrights or artistic creations in the event of your death?
This is something too many authors don’t think about. Your body of work—your intellectual property—is an asset that needs to be addressed in a will.
Even if you’re not making a killing now with your writing, who knows what the future may hold for what you’ve written?
NOTE
In the case of publisher accounts, you should already have an authorized representative on the account who can receive monies from the accounts and make decisions about the account should you be incapacitated or die.
There are a few things you should do now to prepare for death which will come to all of us.
Estate Planning should take into account your intellectual property with a named person to inherit. The intellectual property should be spelled out, i.e., “all published and unpublished manuscripts, complete and in partial, without regard to copyright registrations, all notes, outlines, research materials, and other data associated with writing short stories, novels, or nonfiction books, manuscripts, and articles.”
HAVE A MEETING WITH YOUR HEIR
GIVE YOUR HEIR A COPY OF THE WILL
When you have your completed will, give a photocopy to your heirs and discuss everything with them. Also tell them where the original document is located so they can find it when they need it. This is super important because most of us who are married have it set up for spouse to inherit everything if one of us dies. If both of husband and wife die, your kids or the one kid who is the executor should know what to do.
(I recommend having 2 kids as joint executors if you have a lot of assets because it’s a heartbreaking and difficult job.)
Joan Reeves aka SlingWords: The Word Slinging Adventures of Joan Reeves
Source: https://slingwords.blogspot.com/2024/05/authors-and-intellectual-property.html
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