Preta Gil died on Sunday (20 July), at the age of 50, leaving an artistic, commercial and emotional legacy that will now be managed by his only son, Francisco Gil. Revealed as an important figure in Brazilian music and culture, the artist has also accumulated the estimated assets to over $ 20 million, including physical goods, corporate participation and copyright in his musical work.
Firstly, Francis was recognized as a necessary heir, having a full right to legitimate legacy. It is the result of Black’s relationship with the actor Otávio Müller. In addition to the material property, Francisco will also inherit the copyright of his mother’s songs, which will continue to sell up to 70 years after the artist’s death. “Francisco inherits the legacy of his mother, including copyright for his songs, who will continue to generate revenue up to 70 years after death,” said the lawyer Luiza Mendonça, specialist in family law and successions.
Preta Gil dies at 50 (Photo: Instagram)
In fact, this authorial collection will remain under the control of the child until the year 2095. The Brazilian law guarantees that the artistic works are protected for seven decades after the author’s death, unless contrary to the specific corporate organization.
In addition to the musical sphere, Black has also maintained relevant business. He was a Mynd partner, a flu marketing agency with a large customer portfolio. According to the lawyer Julia Moreira of Plkc Advogados, in the event of the death of the members, business continuity depends on the company’s social contract. “The most common is that the heirs take control of the shares of the deceased person, continuing to receive dividends. But if there is a contractual impediment, the amount corresponding to the participation of prete should be determined and paid to the heir, through an evaluation process,” he explained.
From a legal point of view, it is also necessary to verify that copyright was connected to any company created specifically for this purpose. If there are members or management clauses, collection control may have different requests, but always respecting the rights of the legitimate heir, as the lawyer Fábio Botelho Egas warned.
Consequently, Francisco not only manages his mother’s assets, but also takes on a position in the line of succession of Gilberto Gil, his grandfather. At 83, Gil is one of the greatest names of Brazilian music and the nephew will now divide the future legacy with the six uncles, which represent the black part in the family succession.
Black Gil’s death exposes, above all, the importance of succession planning, in particular between artists and entrepreneurs who deal with intangible assets. “The death of an artist as a prete Gil shows how succession planning is fundamental for those who work with intellectual properties. Often, heirs are not ready to manage this inheritance,” said Egas.
Source: Terra
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