Smart move.
Anyone calling him a "sellout" is an idiot. It's just an asset - either a catalog that pays residuals over time, or a lump sum. This way he can decide where the money will go. Probably saves a lot of strife and possible lawsuits among the family. And he'll be dead in 20 years, maybe sooner. Take care of business now and have it done.
Bob shows, again, that he's a brilliant and perceptive guy.
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