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Old 02-01-2014, 12:10 AM
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Azure Wings Azure Wings is offline
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Re: Your legacy? Wills and such

I found a FREE downloadable reference online - "A Visual Artist's Guide to Estate Planning" here:

http://sharpeartfdn.qwestoffice.net/...teplanning.htm

It's dated 1998, with an update from 2008:

http://sharpeartfdn.qwestoffice.net/...teplanning.htm

You can also download individual appendices, too. I'm prepping for a workshop this weekend, so I won't have a chance to review it right away. I'd be interested in hearing what you all think. And maybe it wouldn't apply as closely in the U.K. or other places as in the U.S.?

Here's also a good article on documenting your work in order to establish value and organizing your records from www.artbusiness.com:

http://www.artbusiness.com/estateplan.html

But maybe these could at least give us a place to start....

Hoping this is helpful,
Karen

Last edited by Azure Wings : 02-01-2014 at 12:16 AM.
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Old 02-03-2014, 02:40 PM
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Greg Long Greg Long is offline
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Re: Your legacy? Wills and such

In my case, wife or son_and_hair will get all. Hopefully she/he will earn a few bob from it, even if I don't.
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Old 02-19-2014, 02:04 PM
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Cindy Schnackel Cindy Schnackel is offline
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Re: Your legacy? Wills and such

A great topic. Many of us have families that don't have any interest in our art and would not have any idea how to manage intellectual property either. I don't want to leave a bunch of stuff, or a chore, to my heirs. Have seen what happens when an artist dies without a will or a plan, it's ugly. Stuff being thrown away, income from intellectual property being hard or impossible for the heirs to get, and years later elderly relatives still trying to sort it out, and spending more and more of it on lawyers to try and just be done with it all.
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Old 02-20-2014, 08:48 PM
Moises Menendez Moises Menendez is online now
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Re: Your legacy? Wills and such

What about donating to a local museum or Art center? I don't know if my son or my grand children will appreciate my art legacy when I am gone. However, I have done few portraits that may go to a Medical School and inspire medical students or physicians who are artists to continue my legacy. Is that too much to dream about?
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Old 02-21-2014, 06:41 AM
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timelady timelady is offline
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Re: Your legacy? Wills and such

Cindy - intellectual property is just property. It is not hard to will to someone, you just state that you leave it to so-and-so just like a house, a car, etc. It will be when that is not stated that it's complicated.

Moises, why not ask the charity or museum. Most are happy to have legacies left to them, but in the case of non financial legacies it's worth asking if they would be interested. Mainly just so that if it isn't items they feel they could make use of, it doesn't just end up in storage or at auction. Creating more work for them.

Tina.
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Old 02-21-2014, 01:54 PM
Moises Menendez Moises Menendez is online now
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Re: Your legacy? Wills and such

I guess that when I leave this world my art work could be donated to a charitable institution or a hospital or something like that.
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Old 02-21-2014, 07:35 PM
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Cindy Schnackel Cindy Schnackel is offline
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Re: Your legacy? Wills and such

Quote:
Originally Posted by timelady
Cindy - intellectual property is just property. It is not hard to will to someone, you just state that you leave it to so-and-so just like a house, a car, etc. It will be when that is not stated that it's complicated.
Tina.

That was the problem, the artist who died did not have a will.

Besides heirs who didn't treat visual art with respect, there were complex hoops to jump thru to get the deceased's "residuals" from film industry work. For the lawyer, maybe not so complex, and the co's and state agencies tended to comply when the lawyer handled it. But when the heirs tried to just fill out the forms etc themselves they were always, without exception, met with stonewalling and game playing, rules changed, lied to. Too easy for these entities to hide behind the excuse of trying to prevent fraud or claining the heirs "didn't understand." The lawyer confirmed they were playing games, the heirs had not done anything incorrect. But to get the lawyer to handle it, cost the heirs quite a bit of their inheritance.

The state he died in, CA, does not probate estates they deem too small. Like his. They leave heirs to figure it out or hire a lawyer. Had he had a will and anyone knew where it was, it would've gone more smoothy, (you'd hope). Then each heir's 'cut' would be issued to them personally by check, instead of 80+ yr old women trying to administer it.

I have been reading about trusts and though they supposedly can make it even more seamless, they're more expensive to set up.

If only we knew when we'd die and what we should do about our art then. If a person lingers in a nursing home with dementia and hasn't painted in years, and no one remembers who they are, they may have a different need than a productive artist who's got a collector base and maybe an income stream from licensing. But to know where you'll be career wise when you die is impossible. You can only plan as if it will happen today, and keep it up to date.
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Old 02-22-2014, 09:03 AM
Moises Menendez Moises Menendez is online now
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Re: Your legacy? Wills and such

I had a similar experience with an old friend of mine. He was an excellent watercolor artist, especially on seascaping and boats, and things like that. He won numerous awards, and he made good profit with his work. He was very prolific, and his art work was not cheap. One day he was found at the local nursing home with his wife and then later on he died. I has been trying to buy one of his art pieces but no one knows what happened to all the work he did.
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Old 04-07-2014, 02:06 PM
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Re: Your legacy? Wills and such

Saw another post elsewhere with another important point:

Leave a list of all your names, passwords, bank account nums, etc!
So those after you can close your accounts on art sites, social media, etc.
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Old 04-07-2014, 09:27 PM
Artyczar Artyczar is offline
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Re: Your legacy? Wills and such

I wish I could close some of those accounts now, but I forgot most of those usernames and passwords a long time ago and never wrote them down unfortunately.

Anyway, and by the way, it looks like I might have two new nephews through adoption in the next few months (because of a current family tragedy). My brother is stepping up and taking the boys that just became orphaned, so they will be my new nephews (were my 2nd cousins). Maybe one day they would like to have something to do with my artwork? So maybe I can make some sort of plans after all. We'll see.
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Old 09-25-2014, 02:12 AM
mallihamalliha mallihamalliha is offline
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Re: Your legacy? Wills and such

i am always optimist.......
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Old 03-03-2016, 04:57 PM
old_hobbyist old_hobbyist is offline
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Re: Your legacy? Wills and such

Unlike most replies to this thread re: disposal of art after demise, I have no illusions about the survival of any or all of my work. I plan on providing a pittance in my will to compensate the trashmen for hauling all of it away.
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Old 07-07-2016, 02:34 AM
DarkFlights DarkFlights is offline
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Re: Your legacy? Wills and such

I thin November in the UK is Will Aid Month, where you can get a will written for quite cheaply, for a donation to charity (think the minimum is £90, and it has to be a participating solicitor). So, I'm going to try and get it done then, as I'm estranged from my blood family for reasons I won't go into here, and don't want those evil people getting a penny from me. I'm planning on leaving all intellectual property to my partner, and physical works with my agent to sell/licence.
Also, as my partner and I are not married and not planning to be, I need to get a will done for other reasons, too, such as making him officially next of kin.
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Old 10-11-2016, 11:00 PM
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Re: Your legacy? Wills and such

I've told my sons that when I die they're to take what they want and tell the rest of the extended family to take what they want, then the rest gets donated to various charitable organizations.
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Old 04-10-2017, 04:15 AM
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Katherine T Katherine T is offline
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Re: Your legacy? Wills and such

I collected EVERYTHING useful I could find about what to do and plan about your art after you die - and what your relatives need to know about re. what they need to do too.

It's now sitting on a page on my "Art Business Info for Artists" compendium website.

I'm not sure whether I can add a link in here but if you Google "estate planning for artists" or "The Art Legacy" it should come up on the first page.

Moreover, if you've come up with a great link to information you think should also be included do please let me know!
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