Intellectual Property Law

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Intellectual Property Law

I am disabled under SSDI, 6 years to regular retirement age.

Customer Question
(Should I live that long...
I am disabled under SSDI, 6 years to regular retirement age. (Should I live that long this is a moot question.) I was toying with taking up writing science fiction novels (I know, with the other one million want to be authors). According to SSDI law, if
by some miracle I write a good seller that produces over SGA income limit of $780/month, I could precipitously lose my SSDI even if I never typed again. In stead of risking success that I could be a one-time wonder, if I find I wrote a good seller could I
sell or give it to a friend or family member and get it out of my income stream to avoid losing SSDI?
Submitted: 2 years ago.Category: Intellectual Property Law
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Answered in 3 days by:
7/27/2015
IP Lawyer: montysimmons, Patent Prosecutor replied 2 years ago
montysimmons
montysimmons, Patent Prosecutor
Category: Intellectual Property Law
Satisfied Customers: 328
Experience: Electrical Engineer, South Carolina Attorney, Member of US Patent Bar
Verified
Yes. Many ways to organize your activities so that you can manipulate your income. One way: Write your books, register your copyrights, then transfer your registered copyrights to some entity - LLC, your family members, etc. They should pay you just enough for the copyrights so that you do not lose your SSDI and they pay for the marketing of the books and take the associated risks. If you have anymore questions, please ask.
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Customer reply replied 2 years ago
Nobody could accuse me of hiding income? It is true, you never know how long it takes for a good book to produce anyway. I don't think an LLC would enough separation. As long as I can sell my rights like for $50 per book after expenses, I will never accumulate income until I reach 66 years 2 months, then I shift over to regular social security and the problem ends. This all sounds good, as my daughter is a writer too and will be marketing her own books; I just slip a few of mine in.
IP Lawyer: montysimmons, Patent Prosecutor replied 2 years ago
People can be accused of anything. Successfully accused? Unlikely.Lots of people give valuable stuff to their kids and family and there is no guarantee your books will ever be valuable. The buyer is more likely to lose $50/book than make money (statistically speaking).Until your books proven valuable you are hiding nothing. Should your books become valuable then the problem should not be a problem. So write your books, register your copyrights, sell the copyrights to your daughter for whatever amount suits your goals. Very unlikely you will have a problem.
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