Protect intellectual property in your estate plan by inventorying every patent, trademark, copyright, and trade secret you own, naming a successor to manage each asset, and giving your executor clear instructions on licensing, royalties, and transfer. Copyrighted works pass through a will or trust, but certain termination rights cannot be assigned that way.
Most people focus their estate plan on real estate, vehicles, and bank accounts. In today's digital and creative economy, intellectual property (IP) deserves the same attention. You do not need to be a famous author or musician to own valuable IP. A patented invention, a trademarked business name, a self-published book, a recorded song, or even a following built around your name and image can all have real value that outlives you. If you skip these assets in your will, they can be lost, disputed, or left to whoever happens to control your accounts and files when you die. Here are 10 practical steps to make sure your intellectual property is protected and passed on the way you intend, plus how FastWill's online will builder can help you get it into writing.
1. Take Inventory of Your Intellectual Property
Start with a complete list of everything you own: patents, trademarks, copyrights, trade secrets, and any other intangible assets. Review contracts, registrations, and licensing agreements so you understand the nature and scope of each one. This inventory becomes the foundation for every other decision about how the assets should be managed and distributed. If terms like grantor, trustee, or executor are unfamiliar, our estate planning glossary covers the basics before you start drafting.
2. Consult an Intellectual Property Attorney
IP law is a specialized field. An attorney experienced in patents, trademarks, or copyrights can help you draft provisions that address ownership transfer, licensing rights, and ongoing management of your portfolio. This is one area where a short consultation before you finalize your will can prevent expensive disputes later.
3. Consider Licensing Agreements
Licensing can generate income for your beneficiaries long after you are gone. Explore licensing your IP to trusted individuals or companies, either during your lifetime or through instructions that take effect at your death. A clear licensing agreement spells out how the IP can be used and how royalties should be paid out.
4. Establish a Succession Plan
Identify who will take over management of your IP: a family member, business partner, or other trusted person. Consider whether that person has the knowledge and judgment to manage licensing deals, enforce your rights, and protect the value of the asset. Spell out their role clearly in your will so there is no confusion about who is in charge.
5. Protect Trade Secrets
Trade secrets are often the core of a family business's competitive advantage. Address them directly in your estate plan: use non-disclosure agreements for key employees, limit who has access to sensitive information, and name a specific person responsible for keeping trade secrets confidential after you are gone.
6. Provide Clear Instructions in Your Will
Vague language creates disputes. State plainly who owns each IP asset, what restrictions or permissions apply to its use, and who should manage it. Consider naming a trusted executor or an IP attorney to oversee execution of these provisions specifically.
7. Understand Rights of Publicity
Your name, image, and likeness may be protected by what is called the right of publicity, recognized in some form in most states. This right typically depends on where you were legally domiciled, not just where you lived or worked. Some jurisdictions do not recognize a right of publicity as something that can be inherited at all, so check your state's rule rather than assuming your family can control use of your image after death.
8. Regularly Review and Update Your Will
New creations, sales, or acquisitions should be reflected in your estate plan. Set a reminder to revisit your will whenever your IP portfolio changes, and stay in touch with an attorney about changes in IP law that could affect your plan.
9. Research Merchandising Rights
You may hold merchandising rights even without celebrity status, for example if you were part of a band, wrote a jingle, or built a following around a persona. You can only pass on those rights if you retained them in the first place, so review any old contracts related to your public work before assuming those rights exist.
10. Understand Copyright Terms
In the United States, copyright protection for works created on or after January 1, 1978 generally lasts for the life of the author plus 70 years, according to the U.S. Copyright Office. Works made for hire or published anonymously are protected for 95 years from publication or 120 years from creation, whichever is shorter. You can transfer copyrighted works through a will or assign them to a trust. However, federal copyright law also gives authors and their heirs a separate termination right, letting statutory heirs reclaim rights that were licensed away years earlier. Under Section 203 of the Copyright Act, this termination right cannot be transferred through a will or waived by contract; it vests directly in your statutory heirs. If this applies to you, talk to an attorney about how it interacts with the rest of your estate plan.
Your intellectual property inventory belongs alongside your other property in your plan. See our guide to building a current assets list for your will and trust and, if you already have digital accounts or crypto holdings tied to your creative work, our article on protecting cryptocurrency and digital assets.
A Worked Example
Say you wrote and recorded an album in your twenties and signed away distribution rights to a label. Decades later, that catalog is worth real money because of streaming royalties. If you die without addressing this in your estate plan, your heirs may not know the termination right exists, may miss the filing window, and may never see a dollar of what that catalog is now worth. An inventory, a licensing review, and a conversation with an IP attorney while you are alive can prevent that outcome entirely.
Common Mistakes to Avoid
- Treating IP as an afterthought instead of listing it alongside your other assets
- Naming an executor with no experience or interest in licensing or royalty management
- Assuming a right of publicity is inheritable everywhere, when the rule varies significantly by state
- Forgetting that a copyright termination right cannot be assigned through your will
- Never updating the plan after a new patent, trademark, or creative work is finished
How FastWill Handles This
FastWill's online will builder lets you list specific assets, including intellectual property, and name who should manage or inherit each one. It will not replace an IP attorney for complex licensing structures, but it gives you a clear, legally sound foundation you can build on, and you can update it any time your portfolio changes. Start your will with FastWill to put these instructions in writing today.
Frequently Asked Questions
Do I need a lawyer to include intellectual property in my will?
Not always. Simple IP, like a self-published book or a small trademark, can often be listed in an online will. Complex licensing deals or valuable patents usually benefit from a consultation with an IP attorney in addition to your will.
Can I leave my copyrights to more than one person?
Yes. You can split ownership among multiple beneficiaries or name one person to manage the asset on behalf of several beneficiaries. Be specific about how royalties and decisions should be shared to avoid disputes.
What happens to my trademarks if I do not mention them in my will?
They become part of your general estate and are distributed under your will's residuary clause or, if you have no will, under your state's intestacy laws. This often means slower transfers and less control over who ends up managing the asset.
Is the right of publicity the same in every state?
No. Some states have strong, inheritable rights of publicity; others do not recognize the right as inheritable at all. Your domicile at the time you built that public identity generally determines which state's law applies.
Can I change my intellectual property provisions after I sign my will?
Yes. You can update your will any time you are of sound mind, and you should revisit these provisions whenever you create, sell, or license new intellectual property.
