What Property Can You Leave By Will? - Royalties

By Stan Taylor Written on:




Want to make a start on your will?

Making a will is simple

Making a Will is not about wealth it is about making sure that what you want to happen to your estate does happen. It gives you the opportunity to specify such things as who will administer your estate, who will care for your children and who will receive specific items of your property.


If you write a best-selling novel you will be entitled to royalties from the publication. These will continue for the period of copyright and may be bequeathed to your heirs.

The most well-known example of this is the rights to Peter Pan which were bequeathed to Great Ormond Street Hospital for Sick Children. Other famous wills include that of Michael Jackson see http://www.forbes.com/fdc/welcome-mjx.shtml.

If you are a really famous author you may well need to appoint separate executors known as literary executors, to deal with royalties from your music or literature.

In that event you almost certainly have a tax problem as well and require expert advice.


Read on - What Property Can You Leave By Will? - Joint Property or What Property Can You Leave By Will? - Joint Tenancy


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see: Making a will - The Law Society. Please note that will making differs in Scotland and this website currently deals with English laFree Will download

 

Perhaps you might consider taking legal advice from a solicitor about making a will if any of the following apply to your circumstances:

 

  1. A number of people could make a claim on your estate when you pass away because they depend on yourself financially
  2. You want to include a trust in your will (perhaps to provide for children, to save tax, or simply protect your assets in some way after you become deceased)
  3. Your physical and permanent home is not in the UK and / or you are not a British citizen
  4. You live here in the UK but you have additional property abroad
  5. You own all or part of a UK business.
  6.  

see: Making a will - The Law Society. Please note that will making differs in Scotland and this website currently deals with English law.

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