Everyone should have a Will. Your Will directs how you wish your assets to be distributed after you pass away. Copyrights are assets – just like your house and your bank accounts. For example, you can designate a beneficiary of the royalties you receive from your copyright. Copyrights can be extremely valuable and should form part of your Estate Plan. You should think about how you want this aspect of your intellectual property to be handled after you pass away, as it could be extremely valuable.
This could potentially be relevant for all manner of subject matter, but is particularly relevant for authors, artists, musicians (with some exceptions), architects, software developers, academics, engineers, etc. As a Will maker with intellectual property rights, it is also extremely important to keep good records of your intellectual property, where it is registered, and how it can be accessed by your Executor.
For more information on estate planning/incapacity planning and to discuss your specific circumstances, please contact Vanessa DeDominicis on 250-869-1140 or [email protected]. Vanessa practices in the area of Real Estate, Wills & Estates, and Intellectual Property at Pushor Mitchell LLP in Kelowna and would be more than happy to assist you.
