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Royalties

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billkloss

Junior Member
What is the name of your state (only U.S. law)? District of Columbia

My principle income is from Royalties paid twice a year. At the time of my death I would like to pass these royalties or the ownership of them on to my legatee without their going through Probate--in the manner of a TOD. Is a TOD appropriate or is another mechanism necessary?What is the name of your state (only U.S. law)?
 


Dandy Don

Senior Member
How much are the royalties worth? There is no way to avoid probate on these since they involved real estate that must be legally transferred as far as ownership.
 

tranquility

Senior Member
A trust should be able to meet your goals. See an estate planning attorney to determine the exact components of the trust.
 

tranquility

Senior Member
Dandy Don wrote:
Yeah, sure, a trust that is going to cost more to set up than the royalties are actually worth.
The OP wrote:
My principle income is from Royalties paid twice a year.
How much do you think a trust will cost to set up? Just as a guess, do you think the royalty payments are worth hundreds, thousands or tens of thousands of dollars? More? What are the odds a trust will cost more than the royalties are actually worth? Besides, if the ownership of royalties are bringing in at least tens of thousands a year (my guess with the possibility of more), how much are the underlying rights worth? How many years are the royalties going to be paid? What if it is oil royalties? Are people going to be wanting oil for a while? This asset could be worth a lot.
 

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