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jacow83960029
Inspiring
August 29, 2024
Answered

Stock payments after your death

  • August 29, 2024
  • 3 replies
  • 957 views

One of the other agencies I contributed to raised this issue a while
back. What happens if an artist dies? Obviously his or her payments
will continute, but can one nominate a recipient, a spouse for instance,
for such an event, to ease the process?

 

I am nearing retirement, and updating all my logons to the stock sites I contribute to, and will leave this with my wife to access my account after. She can decide whether to delete the account as she wishes

This topic has been closed for replies.
Correct answer jacow83960029

Update from contributor relations on this matter:

To access a deceased member’s account, Adobe Stock requires certain formalities to be met. Besides of a written consent to comply with all terms governing the use of our services, an official proof of death as well as the official documentation regarding the inheritance is required. 

Upon receipt of the request and aforementioned documents, we will review the portfolio and determine if it can be transferred or not. Please keep in mind that we cannot guarantee the transfer of the existing portfolio, but we might be able to cash out the remaining balance from the account.

 

we will contact the beneficiary via telephone, verify his or her identity and provide a temporary password for them to access the member’s account. 

Within a period of 48hours they will then be asked to ;

* change the temporary password; 

* update the member account with personal data (name, address, etc.); 

* change the tax parameter to those applicable to them; and 

* change the bank account information in order to benefit from Credit conversions. 

 

 

But again, we cannot guarantee the transfer of the existing portfolio.

 

3 replies

jacow83960029
jacow83960029AuthorCorrect answer
Inspiring
August 30, 2024

Update from contributor relations on this matter:

To access a deceased member’s account, Adobe Stock requires certain formalities to be met. Besides of a written consent to comply with all terms governing the use of our services, an official proof of death as well as the official documentation regarding the inheritance is required. 

Upon receipt of the request and aforementioned documents, we will review the portfolio and determine if it can be transferred or not. Please keep in mind that we cannot guarantee the transfer of the existing portfolio, but we might be able to cash out the remaining balance from the account.

 

we will contact the beneficiary via telephone, verify his or her identity and provide a temporary password for them to access the member’s account. 

Within a period of 48hours they will then be asked to ;

* change the temporary password; 

* update the member account with personal data (name, address, etc.); 

* change the tax parameter to those applicable to them; and 

* change the bank account information in order to benefit from Credit conversions. 

 

 

But again, we cannot guarantee the transfer of the existing portfolio.

 

jacow83960029
Inspiring
August 29, 2024

One of the other agencies I contributed to raised this issue a while
back. What happens if an artist dies? Obviously his or her payments
will continute, but can one nominate a recipient, a spouse for instance,
for such an event? It would be great if one can to save the surviving spouse the trouble of doing so later.

Ian Lyons
Community Expert
Community Expert
August 29, 2024

Are you referring to a Lightroom Classic subscription or Adobe Stock? If the later, then best you submit your question to https://community.adobe.com/t5/stock-contributors/ct-p/ct-Stock-Contributors?page=1&sort=latest_replies&lang=all&tabid=all

 

 

Jill_C
Community Expert
Community Expert
August 29, 2024

The Adobe Stock Contributor Agreement is silent on this subject. You would have to include a transfer of your IP rights to your images to a beneficiary in your Trust or Will. The beneficiary would have to contact Adobe after your death to submit a new tax ID and payment method to be attached to the stock account.

Jill C., Forum Volunteer
RALPH_L
Community Expert
Community Expert
August 29, 2024

I am not a lawyer but, I would guess that my photos and illustrations are assets that belong to my estate when I die. My beneficiaries have to contact stock agencies to take control of my accounts.