Are your players familiar with the series?
If so you might want to file off the serial numbers so that it is not so obvious to them what the plot is or so that when the PCs take things in different directions from the books' plots it does not cause dissonance.
Otherwise feel free to rip off liberally, it will make keeping names and story ideas straight easier and you can refer to the books or wiki entries for the series to keep details straight.
I've played in games where the DM took a book series and used that as the basis for the plot. It worked well, had neat themes and ideas that were engaging and was fun overall. I had never read the series or heard about it until after the campaign was over so it was all fresh to me when I went through it.
I've also played in D&D games where literary settings and characters were merged into a D&D setting and it was fine interacting with Elric and visiting the Seven-Walled-City of Minas Tirith and having the Lankhmar pantheon exist even without any Moorcock, Tolkien, or Lieber explicit plots.