If you suddenly died?

immediate

immediate

Sky Marshal
Nov 9, 2009
33
0
0
kavoir.com
www.kavoir.com
If you suddenly died, such as from accidents (20s - 40s people, which most of we Internet marketers are, don't usually die from foreseeable causes such as dire health), how are your dear websites (income streams) to be handled or transferred to your loved ones? What can be done to ensure that the future website earnings be safely and smoothly made to them after you have passed away and never had the chance to tell them?

I don't currently have a wife nor any children, but I have 2 parents that I love very much. The problem is that the total time they have spent on using a computer is ZERO throughout their lifetime, let alone the Internet. I was just wondering what I can do to make them know how to take on my websites and successfully get the money that will be sent to them month after month, you know, affiliate commissions, adsense earnings, product sales, etc.

Making them never close my banking account will be the first step - but is that possible? I'm not sure if they will let you keep the banking account of someone who's dead. Otherwise, I'd have to outline to my parents the steps needed to change the payment recipient (name, address, bank account number, etc.) somewhere they can find after my death.

This gotta be done cause' money already lying in my bank account is nothing compared to the future potential of my websites which should last at least a few years after no one's caring them until the income stream gradually die out in the end.

Your ideas?
 


I've been meaning to do this. Need to put a very detailed list of instructions together along with user names and passwords and advice on the value of the assets involved to give them a clear picture of what it is they are dealing with. A sit down conversations about what you do and what to do if anything ever happened to you might be in order. Perhaps making some arrangements with a management firm to liquidate the company in the case of your demise would be wise? I don't know, just thinking out loud. Otherwise you're right, things would lapse, domains would expire and no one would be the wiser to the fact that your unseen empire is slowly fading away.
 
There's the potential for a good business here. There are enough marketers around who make a significant amount of money, that their families depend on. You could create a service a bit like life insurance.
 
or you could just get life insurance.

I don't think it's plausible. Maybe with seo stuff that just has natural recurring income it might work for a while to just hand over passwords and instructions to renew the domain. But eventually the ranking will fall (a day, month year or 3 years...etc) without some love and unless they took the initiative to learn the biz, there's really nothing to be done about that.

Any other IM stuff, ppc, facebook, media buys...etc With all the need for tweaking and monitoring? No way.
 
All the details are in a text file stored on an SD card not connected to the computers. I've told my brother and girlfriend about it. If I died, they can log into my skype and contact a few people who might be interested in purchasing the domains.

Text file has all the information they'd need to do transfers etc if they decided to buy them.
 
amateursurgeon said:
There's the potential for a good business here. There are enough marketers around who make a significant amount of money, that their families depend on. You could create a service a bit like life insurance.
Click to expand...

Possibly. Sell everything off to deliver to the estate. Of course that's what wills are for but you would have a tough time explaining to them how do you flippa and stuff. It would worth it to guarantee the most amount of revenue for the estate.
 
If the sites are really worth being considered properties, have them owned by an LLC, which will not be affected by your death.

Unfortunately, as turbo points out, a large portion of the income and long-range viability is dependent upon maintenance and expertise that your loved ones probably cannot or will not provide. So for all but a handful of properties the value of your IMpire will pretty much shrivel up if no one is at the helm. Even my stuff, which is generally designed for long time frames, would not stay ranking or relevant for more than a couple of years, and probably wouldn't produce measureable income for more than twelve months if I wasn't working on it.

At least as important as an LLC and possibly a RLT for the financial assets (bank accounts and such) you need to make sure that your family has some kind of idiot's guide to what the hell to do with it once they have it -- specifically, they need to sell it if it's worth anything and put it into something that doesn't have to be maintained, and need to have realistic ideas about what it's worth in order to avoid being ripped off.


Frank
 
Go to LegalZoom and set-up a Living Trust...costs like $300. You can list detailed info on your assets and who will receive them in case of your demise all without having to go through probate court. You can name a Trustee (someone you trust) to manage the process for your beneficiaries. The Trustee could be someone that understands your business and can manage the sale or operation of it to benefit your beneficiaries. As always you really should consult a tax professional or attorney before doing anything.
 
"Dear My Loving Wife,

Please make sure to take care of my most treasured website, colonblowforpreteens.org, it is sure to bring our family a wonderful income for years despite my untimely passing. The username is rebillrebillrebill and the password is disregardfemales (don't mind that :), just a little forum joke). If you could, please try and link spam it at least once a week, and make sure you always blank those referrers.

I will always love you and that website.

Yours,

Pookie Bear"
 
Just buy a shit ton of life insurance and forget the rest unless you have a "real" business that actually has value. I got $5 mil life insurance on myself for a few grand a year (non smoker). Along with the house, investments and money in the bank that's enough for the family to live happily ever after ...
 
dchuk said:
"Dear My Loving Wife,

Please make sure to take care of my most treasured website, colonblowforpreteens.org, it is sure to bring our family a wonderful income for years despite my untimely passing. The username is rebillrebillrebill and the password is disregardfemales (don't mind that :), just a little forum joke). If you could, please try and link spam it at least once a week, and make sure you always blank those referrers.

I will always love you and that website.

Yours,

Pookie Bear"
Click to expand...

i loled.
 
I have wondered this as well, no one would have a clue what to do with my stuff. I have a friend in the SEO biz, I told him if I die he should help out with stuff. Who knows, some of my sites would go on for years as they get natural links.
 
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