Abstract

http://ssrn.com/abstract=1488428
 
 

Footnotes (66)



 


 



Celebrity, Death, and Taxes: Michael Jackson's Estate


Bridget J. Crawford


Pace University School of Law

Joshua C. Tate


Southern Methodist University - Dedman School of Law

Mitchell Gans


Hofstra University - School of Law

Jonathan G. Blattmachr


Milbank, Tweed, Hadley & McCloy LLP

October 19, 2009

Tax Notes, Vol. 125, No. 3, 2009
SMU Dedman School of Law Legal Studies Research Paper No. 48
Hofstra Univ. Legal Studies Research Paper No. 10-04

Abstract:     
The untimely death of Michael Jackson this past June presents an opportunity to reassess certain thorny estate tax issues that may arise when a celebrity dies owning valuable intellectual property. Elsewhere we have debated hypothetical, tax-motivated changes to state laws relating to postmortem publicity rights. This article focuses on existing legislation, like California’s, that makes publicity rights both devisable and descendible. Federal transfer taxes are levied on intangible property as well as tangible assets, and therefore apply to intellectual property, including a celebrity’s right of publicity and copyrights retained by an artist in his or her creations. Using Michael Jackson’s estate as an example, and focusing primarily on publicity rights, we examine two questions that any estate planner representing a celebrity client ought to consider. First, how should a personal representative value intellectual property for estate tax purposes? Second, what strategies are available to lessen the estate tax burden associated with certain intellectual property rights?

Number of Pages in PDF File: 8

Keywords: estate tax, intellectual property, publicity rights, estate planning, valuation, celebrity, celebrities, Michael Jackson

JEL Classification: K34, K39

Accepted Paper Series





Download This Paper

Date posted: October 19, 2009 ; Last revised: March 30, 2011

Suggested Citation

Crawford, Bridget J. and Tate, Joshua C. and Gans, Mitchell and Blattmachr, Jonathan G., Celebrity, Death, and Taxes: Michael Jackson's Estate (October 19, 2009). Tax Notes, Vol. 125, No. 3, 2009; SMU Dedman School of Law Legal Studies Research Paper No. 48; Hofstra Univ. Legal Studies Research Paper No. 10-04. Available at SSRN: http://ssrn.com/abstract=1488428

Contact Information

Bridget J. Crawford (Contact Author)
Pace University School of Law ( email )
78 North Broadway
White Plains, NY 10603
United States
Joshua C. Tate
Southern Methodist University - Dedman School of Law ( email )
P.O. Box 750116
Dallas, TX 75275
United States
(214) 768-2791 (Phone)

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

Hofstra University Logo

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: 1,717
Downloads: 221
Download Rank: 81,865
Footnotes:  66

© 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 0.375 seconds