When most people think about estate planning, they picture a will that divides up money, property, and family heirlooms. But for many, intellectual property—things you’ve created, invented, or branded—can be just as valuable. Whether you’ve written a book, patented a product, or built a recognizable brand, these assets need the same thoughtful planning as your home or retirement account. If left out of your estate plan, they can fall into legal confusion or go unused. We help you make sure that doesn’t happen.
What Is Intellectual Property?
Intellectual property, or IP, refers to intangible creations of the mind. You don’t have to be a famous inventor or bestselling author to own IP. You might be surprised by what qualifies:
- Copyrights – books, music, photographs, software, blog content
- Trademarks – business names, logos, slogans
- Patents – inventions, designs, or processes
- Trade secrets – confidential formulas, customer lists, or business methods
- Domain names and apps – including the code and branding behind them
These are all assets with financial and sentimental value. They can generate income, carry brand recognition, or preserve your legacy. We help you take stock of what you own.
Why IP Needs to Be in Your Estate Plan
If you don’t account for your IP in your estate plan, you risk more than just leaving money on the table. Here’s what can go wrong:
- Assets might be lost, forgotten, or underused
- Your heirs could fight over rights or royalties
- A valuable business may stall without a clear successor
- Licensing agreements could lapse or be breached
Some IP continues to generate income long after the original owner has passed. Without instructions, those rights can become hard to manage or go to the wrong person entirely. Including IP in your estate plan helps preserve both value and intent.
How to Include IP in an Estate Plan
We start by identifying exactly what you own. Many people don’t have a complete inventory of their intellectual property, so we’ll help you create one. Once you know what you’re working with, here are some of the next steps:
- Confirm ownership: Is the IP registered in your name or a business’s name? Is it shared with a partner or publisher?
- Distribute it thoughtfully: Use your will to name the beneficiaries who will receive your intellectual property rights. You can also use a trust to control how and when those rights are used or transferred.
- Choose the right person to manage it: Your personal representative or trustee should understand the value of the IP or be willing to work with someone who does.
- Include licensing or royalty instructions: If your work earns income, make sure those funds are accounted for. You can also specify whether the IP should continue to be licensed, sold, or retained.
Because IP can evolve, it’s important to review and update your plan regularly.
Options for Protecting IP Long-Term
Some IP needs special attention. If your intellectual property supports a business, generates steady income, or has future licensing potential, you might want to protect it with a dedicated structure.
Here are a few strategies:
- Set up a trust just for your intellectual property. This gives you better control and may help your heirs avoid probate.
- Transfer the IP to a business entity like an LLC. This can make it easier to manage and transfer.
- Write clear instructions about future use, especially if your brand, product, or content has ongoing public value.
We work with our clients to explore these options and tailor them to their goals.
Working With the Right Professionals
Intellectual property planning usually requires more than one set of eyes. In addition to working with our estate planning team, you may need help from:
- An IP attorney who can review registrations or filings
- A business advisor, especially if your IP is tied to a company
- A tax professional to evaluate income and inheritance issues
We collaborate with trusted professionals to develop a plan that aligns with your intentions and protects your work.
Preserve the Value of Your Ideas
Your ideas, creations, and innovations are part of your legacy. Including them in your estate plan protects that legacy and helps your family benefit from the work you’ve done. At Surprenant, Beneski & Nunes, P.C., we’ll help you take inventory of your intellectual property, decide how it should be managed or distributed, and make sure your wishes are clearly documented.
Contact us today to schedule a consultation and learn how we can help you secure the future of your intellectual property, along with everything else you value.