Abstract

http://ssrn.com/abstract=1116781
 
 

Footnotes (26)



 


 



Postmortem Rights of Publicity: The Federal Estate Tax Consequences of New State-Law Property Rights


Mitchell Gans


Hofstra University - School of Law

Bridget J. Crawford


Pace University School of Law

Jonathan G. Blattmachr


Milbank, Tweed, Hadley & McCloy LLP

April 1, 2008


Abstract:     
California recently passed legislation that creates retroactive, descendible rights of publicity. The New York State Assembly is poised to enact similar legislation. Legal recognition of postmortem rights of publicity permits a decedent's named beneficiaries or heirs to control (and financially benefit from) use of a deceased personality's image and likeness. Legislators, proponents of these laws, and legal commentators have overlooked two significant federal estate tax consequences of these new state law property rights. First, a descendible right of publicity likely will be included in a decedent's gross estate for federal estate tax purposes. Second, the estate tax value of rights of publicity easily could exceed the estate's liquid assets available to pay taxes. These tax concerns could be eliminated, however, by rewriting the statutes to limit a decedent's ability to control the disposition of any postmortem rights of publicity.

Number of Pages in PDF File: 8

Keywords: estate, estate tax, tax, postmortem, publicity, celebrity, Monroe

JEL Classification: K34, K11

working papers series





Download This Paper

Date posted: April 5, 2008  

Suggested Citation

Gans, Mitchell and Crawford, Bridget J. and Blattmachr, Jonathan G., Postmortem Rights of Publicity: The Federal Estate Tax Consequences of New State-Law Property Rights (April 1, 2008). Available at SSRN: http://ssrn.com/abstract=1116781 or http://dx.doi.org/10.2139/ssrn.1116781

Contact Information

Mitchell M. Gans
Hofstra University - School of Law ( email )
121 Hofstra University
Hempstead, NY 11549
United States
(516) 463-5876 (Phone)

Hofstra University Logo

Bridget J. Crawford (Contact Author)
Pace University School of Law ( email )
78 North Broadway
White Plains, NY 10603
United States
Jonathan G. Blattmachr
Milbank, Tweed, Hadley & McCloy LLP ( email )
1 Chase Manhattan Plaza
New York, NY 10005
United States
212-530-5066 (Phone)
Feedback to SSRN


Paper statistics
Abstract Views: 1,975
Downloads: 161
Download Rank: 109,176
Footnotes:  26

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo5 in 0.328 seconds