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Originally Posted by howyoudoin
Semi-relevant question: Most countries charge inheritance tax for properties passed onto heirs. Do the heirs of a copyright have to pay inheritance tax?
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Yes, a valuation is done at the time of death. Keep in mind though, many authors lost their rights in conniving contracts with publishers and are only now regaining them (some 35 year rule - I think it was discussed here at the time). So, most of the time, they just make an estimate based on the royalties received over the most recent 3-5 years taking into account the trend.