Chapter excerpt: Talia Joy Castellanos, a thirteen-year-old YouTube and Instagram star, passed away on July 16, 2013, after a six-year battle with neuroblastoma and leukemia. Talia’s social media postings on makeup, fashion, and her battle with cancer, connected with fans worldwide. In addition to accumulating millions of YouTube and Instagram followers, Talia appeared on The Ellen DeGeneres Show and was named an honorary face of CoverGirl cosmetics. At the time of her death, the videos on Talia’s YouTube channel had accumulated tens of millions of views and were valuable assets.
Talia’s social media following created extensive and lucrative digital assets that raise a special set of questions about how these assets should have been managed before and upon her death. Who owns Talia’s videos and other postings? Who has the right to control her accounts?
The American Bar Association's Tax, Estate, and Lifetime Planning for Minors focuses exclusively on the pertinent issues facing adults when planning for younger family members. This updated edition looks at the many and often complicated issues involved in these situations, including taxation, education funding, insurance, disability, and even planning for an adult’s incapacity or death. Combining core legal concepts with practical wisdom, Tax, Estate, and Lifetime Planning for Minors is a unique resource for attorneys advising clients in their estate and financial planning when minor children are involved. This is a ready reference not only for seasoned practitioners but for the general or novice practitioner handling their first estate plan.
(purchase required to access article)Click here to view the full article