Representatives for the recently deceased pop star Prince must assign a future value to the celebrity’s name, likeness and image. Such assets are likely to be valued as the estate’s most valuable property and may be subject to a 40-percent estate tax. Determining the value of such assets is a highly subjective process. In 2009, representatives of Michael Jackson’s estate valued the King of Pop’s publicity rights at $2,105, while the IRS valued these rights at $434 million.
Source: ABA Journal
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