Dear Indie Musician: Do you have a will?
What musicians should keep in mind is in the event of an untimely passing, your royalty streams are bona fide assets that need to be discussed in a will. Some of the unclaimed royalty information that we have at Royalty Claim is from musicians who’ve passed away, but did not file a beneficiary with the various music rights organizations. So, their music continues to earn revenue, but the organizations do not have beneficiary info to pay it out. Or, musicians who’ve passed away and left no instructions in their will on how their royalties should be allocated, and various claimants have created a dispute.
We should definitely talk more about musician estates (even smaller musicians can have estates). Royalty streams are assets with which musicians can receive loans from companies like Lyric Financial or Sound Royalties, or even sell via platforms like Royalty Exchange. If you’re serious about your music career, be serious about your estate.