It is so important for authors to make plans now for the future of their stories. Just as it is important that you register your copyright with the U.S. Copyright office. For the small fee of $45 to $55 per work it is legal and added protection for you and your family. Once an author passes away they should have a will specifying who is in control of their written work. Since the copyright last for 75 years after the original authors death it makes sense to add all the copyrights into a Family Trust and then assign trustees to receive the royalities and be able to republish any of your books for future generations to enjoy.
To create a family trust for author’s copyright certificates, you should follow these steps
- Choose a trustee. The trustee is the person or entity that will manage the trust and its assets. The trustee should be someone you trust and who is responsible and knowledgeable about financial matters.
- Draft a trust agreement. The trust agreement is a legal document that sets out the terms of the trust, including the trustee’s duties, the beneficiaries, and how the trust assets will be distributed. It is important to have a qualified estate planning attorney draft the trust agreement to ensure that it meets your specific needs and complies with all applicable laws.
- Transfer your copyright certificates to the trust. Once the trust agreement is signed, you will need to transfer your copyright certificates to the trust. This can be done by assigning the copyright certificates to the trustee or by creating a new copyright registration in the name of the trust.
- Fund the trust. You can fund the trust with any type of asset, including cash, securities, real estate, and other intellectual property. It is important to note that once you transfer assets to the trust, you will no longer have legal ownership of those assets.
- Notify the copyright office. Once the trust has been created and funded, you should notify the copyright office of the transfer of your copyright certificates. This will ensure that the copyright office has accurate records of the ownership of your copyright certificates
Here are some additional things to keep in mind when creating a family trust for your copyright certificates
- Consider the tax implications. Family trusts can have complex tax implications, so it is important to consult with a qualified tax advisor to determine how the trust will be taxed.
- Review the trust agreement regularly. You should review the trust agreement regularly to make sure that it still meets your needs and that the trustee is carrying out their duties properly.
- Update the trust agreement as needed. If your circumstances change, you may need to update the trust agreement to reflect those changes. For example, if you have a new child, you may want to add them as a beneficiary of the trust.
- It is important to note that this is just a general overview of the steps involved in creating a family trust for author’s copyright certificates.
- The specific steps required may vary depending on your individual circumstances and the laws of the state in which you live. It is always best to consult with a qualified estate planning attorney to get help with creating a family trust.
What is the policy of the U.S. Copyright office on transferring copyrights to a family trust
The U.S. Copyright Office has no specific policy on transferring copyrights to a family trust. However, the Copyright Act does allow authors and other copyright owners to transfer their copyright ownership to another person or entity, including a trust.
To transfer copyright ownership to a family trust, the author or copyright owner must sign a written instrument of conveyance, such as a trust agreement or an assignment agreement. The instrument of conveyance must identify the copyright works being transferred and the trustee of the trust.
Once the instrument of conveyance has been signed, the copyright owner may submit it to the Copyright Office for recordation. Recording the transfer of copyright ownership is not required, but it is recommended to provide public notice of the transfer and to protect the copyright owner’s interests.
The Copyright Office does not provide any forms or templates for transferring copyright ownership to a family trust. However, the Copyright Office website does provide a number of resources on copyright transfer, including Circular 12, Recordations of Transfers and Other Documents.
Here are some additional things to keep in mind when transferring copyrights to a family trust
- The Copyright Act requires that all transfers of copyright ownership be in writing.***
- The instrument of conveyance must identify the copyright works being transferred and the trustee of the trust.
- The instrument of conveyance must be signed by the copyright owner or the copyright owner’s authorized representative.
- Recording the transfer of copyright ownership with the Copyright Office is not required, but it is recommended.
- If you have any questions about transferring copyrights to a family trust, you should consult with an attorney who specializes in copyright law.
***The copyright office has a BETA program where you can do a mass transfer of copyrights on the website (Up to 50) for a smaller fee than doing it invididually – Check it out https://www.copyright.gov/recordation/
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