Estate Planning for Entertainers, Part One

Estate planning is often a topic that is hard to discuss. It’s difficult to think about an untimely death or incapacitation. However, these things can happen to the most unsuspecting person at any time. There is no guarantee that tomorrow will be the same as today. Our Wilmington NC entertainment lawyer is here to discuss why planning now can be beneficial in the future.

A Wilmington NC Entertainment Lawyer Can Help!

Because it’s difficult to think about planning your estate, there are many times that it takes a backseat. Often times, entertainers fail to plan their estate. For various reasons, including not having time, sometimes, and untimely passing happens with no estate plan in place. That is where our Wilmington NC entertainment lawyer can help.

Estate planning for entertainers starts with inventory of all assets and income. Sometimes, there will be various types of income coming in from multiple places. Also, contracts for employment and sponsorship are in place, as well. These things need to be included in an estate plan.

Licensing agreements, marketing contracts and other things often need to be considered, as well.
Entertainers who have intellectual property should work with a Wilmington entertainment lawyer.

Trademarks, copyrights and any other type of ownership of intellectual property should be accounted for and well documented in an estate plan. This also holds true for websites, blogs, social media accounts and more.

There are times when entertainers using to stay plan in an attempt to minimize tax obligations. It’s also used to list all assets and plans for distribution after death. Below, you’ll also find other ways to utilize an estate plan.

  • Ownership of memorabilia that is valuable
  • Artwork
  • Assets that are to be given to a nonprofit foundation or charity.
  • Intellectual property that will be shared with beneficiaries

There are many other reasons why entertainers might consider working with a lawyer. For example, there are times when lawsuits might come into play, dealings with tax obligations, state relocation, advanced healthcare directive and more.

If you were interested in working with an entertainment lawyer to help you with any of the services, feel free to contact Wilmington NC entertainment lawyer. We can set up a time to meet with you about all of your entertainment law needs.

Our Wilmington NC entertainment lawyer might also be beneficial in an entertainment career to help with any legal problems that might be encountered, along the way. It’s our hope that legal issues never happen. In some cases, they may be unavoidable. It might be a good idea to have an entertainment lawyer for those times. Seeking the guidance of an entertainment attorney may help you avoid a greater legal problem in the future. Contact us now to learn more.

 

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