Estate Planning and Intellectual Property Assets: Valuation, Transfers, Taxes, Strategies for Counsel

Note: CPE credit is not offered on this program

Recording of a 90-minute CLE video webinar with Q&A


Conducted on Tuesday, May 25, 2021

Recorded event now available

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Program Materials

This CLE webinar will provide estate attorneys with insights into issues associated with planning and compliance considerations for intellectual property (IP) assets. The panel will discuss the valuation of copyrights, trademarks, patents, and the right of publicity, and will offer practical guidance on structuring wills and trusts designed to transfer IP assets efficiently and effectively.

Description

For some taxpayers, IP assets – such as copyrights, trademarks, patents, and the right of publicity – have significant value. Taxpayers who own valuable IP face specific estate planning and compliance challenges.

From a planning perspective, taxpayers want to ensure that ownership of IP assets and their related income streams are managed efficiently and productively and that the benefits are passed on to family or other designated beneficiaries. Wills and trusts are critical tools to ensure IP is transferred to the right people, at the right time, in the right way and the strategic use of LLCs or other legal entities can help to organize and manage IP and facilitate tax efficient transfers of rights. However, because IP assets are given unique treatment under the law, standard planning techniques may not be enough to ensure the owner’s intentions are carried out.

From a compliance perspective, estates want to be sure they establish defensible and accurate valuations as a basis for ownership transfers and for paying estate taxes after death. Valuing IP assets has its own unique challenges and has been subject to significant scrutiny by taxing authorities in recent years. Indefensible or inaccurate IP valuations can generate significant costs as a result of having to participate in litigation and/or paying penalties due to values that are found to be below fair market value.

Trust and estate attorneys must understand the unique issues associated with IP assets, and how they are valued, when advising their clients prior to or after their creator’s or owner’s death.

Listen as our experienced panel provides practical guidance on the unique challenges and benefits of structuring estate plans for intellectual property rights owners.

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Outline

  1. Introduction to various types of relevant IP assets and how owners can generate income
  2. IP ownership structures for business and estate planning
  3. Approaches for valuing IP assets to facilitate strategy and compliance
  4. Unique planning challenges and strategies for IP assets
  5. Exemplary case studies

Benefits

The panel will review these and other key issues:

  • Learn about IP assets that may be subject to estate tax
  • Options for efficiently transferring ownership of IP as part of a comprehensive estate planning strategy
  • How to value IP assets
  • Examples of IP issues in estate planning and compliance

Faculty

Bybee, Brendan
Brendan Bybee

Senior Associate
Stone Law Offices

Mr. Bybee is a Senior Attorney in the Estate Planning Group at Stone Law Offices, Ltd. He graduated with honors from...  |  Read More

Weingust, Scott
Scott Weingust

Managing Director
Stout

Mr. Weingust is the leader of Stout’s Intellectual Property Valuation practice. He has over 20 years of...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts.

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