You know that some celebrities who have cashed out are still cashing in, but have you ever wondered who gets paid when deceased stars still make bank?
Marketplace did, and the article's findings might not be very surprising. Attorneys get a decent slice of the estate pie; the report states fees can be 30 percent or more if infringement or tax cases are pursued in court. The IRS gets an estate-tax payment at the time of the star's death and also 40 percent of ongoing profits.
Tangible assets, such as cars or homes, are often liquidated to cover the estate taxes. Intangible assets, such as copyrights, trademarks and the right to use a celebrity's name or likeness, is how heirs make "big money," according to the report. For example, both Michael Jackson and Elvis Presley died with their accounts in disarray; since their passing, executors have turned around their finances and now their estates generate millions each year for their heirs.
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