I Need A Strategy To Deal With My Domains After I Pass Away

[fiddler]

Not sure there can ever be such a thing as an "automated website," as there will always need to be someone needed to respond to requests to confirm domain ownership as ICANN requests, plus over time things always change - new browsers require websites to be updated, yada yada.

I think of the predicament as the "Lone Wolf" syndrome - and I am (or was) in a very similar situation. I built my web site company all on my own and up until a year ago there was no one else helping run my 70+ websites for my clients. But I'm getting to the age where health issues arrise and I see former classmates dying and I began thinking of what would happen to my company if I died? It wouldn't be very responsible of me to leave my clients without anyone to manage their websites (afterall, that's what they paid me to do), and my husband certainly doesn't want anything to do with my company. He has his own (much larger) company, with 5 employees to deal with on a daily basis. And I have no children to pass on my business to.

So I began looking for an assistant - someone I could hire as part time help that I could train in all aspects of my business, from bookkeeping to coding. I actually found the perfect person and in one year she has now gained 90% of the knowledge required to continue my business without me. The other 10% will be learned in due time, as well. She's still part time, working 1 day in the office and the rest of the time on an "as needed" basis from home, which suits her (as well as me) perfectly as she is a single mother with a disabled child and our work situation permits her to put her child's needs first. A bonus for us both is she has a brother who is about to graduate with a degree in computer science who has also been tapped from time to time for side jobs and we know he's always willing to step in to help when needed.

Now I know my company will be taken in the event of my passing, as I have set it up that the company passes to her in the event of my death. My customers know they are being taken care of and that worrisome burden has been lifted from my shoulders.

This probably isn't a right solution for everyone. I'm just sharing how I solved my situation.

[confettiguru]

What a "wake up call" discussion. Like many of you, I started buying domain names in the mid 90's and tried a variety of registry services.
I now purchase only through Network Solutions and GoDaddy, however I have lot's of names floating around with other registrars.
Intuit, Live, 1and1, Yahoo etc. As I read through this thread I realize the crazy amount of work it would be for anyone, even a domainer, to figure out where everything is and what all the passwords are. My domains currently provide about $350,000 a year in income. All are .com's and one or two word domains. My passion could easily be wasted if my heirs don't understand and protect this.
For Me
Step 1 Consolidate all domains in one place
Step 2 Create a spread sheet with names, renewal dates, passwords etc
Step 3 Meet with an attorney to determine how this will be handled upon my death
Step 4 Talk to my heirs and at least give them a basic understanding of the value of a domain portfolio

[morestar]

Not sure there can ever be such a thing as an "automated website," as there will always need to be someone needed to respond to requests to confirm domain ownership as ICANN requests, plus over time things always change - new browsers require websites to be updated, yada yada.

Now I know my company will be taken in the event of my passing, as I have set it up that the company passes to her in the event of my death. My customers know they are being taken care of and that worrisome burden has been lifted from my shoulders.

This probably isn't a right solution for everyone. I'm just sharing how I solved my situation.

Thank you so much for your contribution and input fiddler, always appreciated.

I was thinking through some of your words and most made a lot of sense, but for me, at the end of the end, I find the same problem occuring if a. something happens to your girl before you pass away and b. eventually she will pass away.

I think there can be such a thing as an automated website - I have no doubt. We CAN put men on the moon and machines on mars - of course we can automate it - we just need to figure out how.

I don't want a soul scrambling on the day I take flight. I'd rather have the earnings go into a main account now, that my heirs could access, the renewals automatic (through that same acount) and hosting to be paid for also, through that same account. A solution built around PayPal could work - maybe.

My domains currently provide about $350,000 a year in income. All are .com's and one or two word domains. My passion could easily be wasted if my heirs don't understand and protect this.
For Me
Step 1 Consolidate all domains in one place
Step 2 Create a spread sheet with names, renewal dates, passwords etc
Step 3 Meet with an attorney to determine how this will be handled upon my death
Step 4 Talk to my heirs and at least give them a basic understanding of the value of a domain portfolio

I recently consolidated all my domains except for one.
I have a secret key, with a secret password etc. with all the info.
I don't see a need for an attorney, only a webmaster on call in case the site gets hacked.
I'm in the process of doing so - it takes time - lets hope I have it.

I also do thank everyone for adding more information to the thread that does cause us to open our eyes to the importance of dealing with our domains after our death.

Great information!

[confettiguru]

I

I don't see a need for an attorney, only a webmaster on call in case the site gets hacked.


Great information!

My thought on the attorney is in having my will define who becomes the owner of the domains.

I just went through a difficult estate settlement for someone who didn't have a will.
Every random distant relative came out of the woodwork.
I want my domains to go to one specific person and intend to make that very clear in my will

[morestar]

My thought on the attorney is in having my will define who becomes the owner of the domains.

I just went through a difficult estate settlement for someone who didn't have a will.
Every random distant relative came out of the woodwork.
I want my domains to go to one specific person and intend to make that very clear in my will

Oh! I see, very well, again I cannot thank you enough for this information confetti...well, you've got me here...I have to get a will for sure...cause, let's say I die in another 33 years, well, my sites may be worth a pretty penny and hey, who doesn't want to fight over a pretty penny when no one officially owns it.

You're so right.

[cw1865]

The key is still the executor/executrix of your will. Remember, a website is, at least in the US, a probate asset, its not like life insurance or certain POD bank accounts. The key is to provide as much information as possible so that your heirs can figure it out. Striving for a perpetual asset is difficult under the circumstances, you're not around and things change, the assumptions that you make regarding how it will work may not hold in the future. For instance, I have a non-interest bearing business checking account and I opened a money market account to at least make a few dollars off of 'float' - I opened the account with etrade. Etrade went out of that business and my account was simply transferred to Discover Bank with a new account number. I didn't have any direct deposits set up on the account, so I'm not sure if that would've been streamlined, but theoretically it might not happen.

Tell your heirs where the assets are, they'll figure it out!

[Tonyhb]

Hi morestar

A"Will" is important, very much so. But, before that is read and before pastures new arise, a "power of Attourney" is something that you may wish to explore. It may be known as something different where you reside. The "Power of Attourney" is needed if I become unable to deal with my affairs before the end.

I agree with confettiguru about consolidating all information regarding the domains administered etc. Also I agree with fiddler regarding an assistant. The "Power of Attourney" could be the assistant or another trust worthy webmaster.

I have spent the last 6 months working through this mine field and I must admit it feels better that I have set everything up to run as smooth as possible.

My drive has been too
a) protect my wifes liability
b) protect my clients

However, I'm not going anywhere for a long time, BUT, you never know. So this subject is something that everbody needs to be aware of and give thought too.

Cheers for now

Tonyhb

[edlaw]

If you would will them to me I would make sure your imortal as I would will them to someone else before I die! (Really!)