If you have royalties, trademarks or digital assets that contribute to your revenue stream, you need to include them in your estate plan, according to the Times Herald-Record in “Include intellectual property and royalties in your estate plan.”
Just as any other asset, intellectual property rights and royalties can be transferred to a living trust. One advantage of placing these types of assets in a living trust is that the names of their beneficiaries and their values are not available to the individuals who comb records seeking such information. Depending on the nature and value of the intellectual property or royalties, privacy alone may be reason enough to place these items in a living trust.
Like digital assets, intellectual property and royalties are frequently left out of estate plans. Serious financial issues can be created for the heirs of those who fail to create a Will or place such property rights in a trust.
An experienced estate planning attorney can advise you on creating an estate plan that fits your unique circumstances, and could include planning with intellectual property.
Reference: Times Herald-Record (Oct. 6, 2018) “Include intellectual property and royalties in your estate plan”