What happens to your domains when you die?

[Raider]

Its not a subject anyone likes talking about, but I think it warrants addressing, In the event you passed away, what would happen with your domain names? how many of you have instructed your beneficiary(s) how to manage your domains in case of such an event? or do you even have a beneficiary?

Many of us have portfolio's worth hundreds of thousands of dollars, I think the last thing any of us would want, is for our domains to expire and land in the hands of Goliath's like Vertical Axis and Name Administration, or allow your Spouse to inherit them who knows nothing about the business and sells them for pennies on the dollar ........your thoughts.

 

[Rico]

I´m 27 so i dont think im dieing soon, but it could,
im ging to transfer everything to 1 registrar and instructed my best friend, to renew them all.

Also ive told, dont sell anything unless its an offer you cant refuse
The passwords and logins are in a save at my house, he knows the codes

 

[Simsi]

One would imagine, like anything else you own, it becomes part of your estate and would be covered as such. Of course, the awkward part is that whoever takes on your estate may not be aware that you "own" them, and as they are effectively rented, they are likely to expire.

I agree that the best plan is to create a document of registration details, registrar, valuation info and maybe even the names of advisors/brokers to aid your partner in sales plus of course registrar access info, then give it to your partner or lodge it with your will.

 

[WeBuyThe.Com]

The passwords and logins are in a save at my house, he knows the codes

I'm not sure how safe this method is. Here's my two cents.
1) Friendships could go sour and names can be taken (Sex.com)
2) What would happen if you die in a housefire and the safe is ruined?
3) Don't tell strangers where you keep your passwords, please :lol:

If you don't have a will get one, if you already have one just amend it and include valuations and instructions, password etc. The will is a living document that can be changed anytime and only opened upon your death.
You should probably sign a power of attorney so the lawyer could reassign ownership.

Perhaps even better is to form a company and transfer domains into the company name (speak to an Atty/CPA about details but some companies act as living enities) so that when you die ownership, monthly revenue, etc keep coming in the company name. Checks made out to a deceased are tough to cash I would imagine.

Disclosure: This is just my opinion and should not be considered professional legal advice. A CPA or ESQ would be able to provide you with additional information.

 

[petrosc]

it's very good that you brought this subject up, I gave it a lot of thought in the past.

I have included all the relevant info(and from time to time updating it) in a password protected flash disk. Besides the password needed to view the contents of the flash disk, there is a second password necessary to decrypt the documents. Only 2 people know about the existence of such flashdisk, one is my partner and the other one is my sister. Only my sister knows the passwords. In case of an unfortunate event my partner is instructed to take over my operations, under the supervision of my sister and should give my share of proceeds to my family.

I guess in these cases you just have to trust your partner/s

 

[ColdGin]

Well...I tought I was the only one that have tought about this, and now I see that there are more.

Everyone can die at every age...so its a good step to give this think the importance it has. Keep your domains in a list with password and tell someone of your friends or family about it.

If you tell your wife, its a good decision, so she can remarrie and his new husband can enjoy your work...lol

 

[Dimva]

All my 2 letter´s .orgs will follow me to the grave muhaha..

Havent really thought about it. Time to act here.

 

[JohnnJohnn is verified member.]

I am working on this project for months. I had the idea years ago with all the disasters happened in the past couple of years. Many people died and there are ton of good names out there.
The coding should be done soon. All the details will be announced.
Now I have to pick a name for the site.

John

 

[Sarcle]

I want all my domains mummified and buried with me.

I am working on this project for months. I had the idea years ago with all the disasters happened in the past couple of years. Many people died and there are ton of good names out there.
The coding should be done soon. All the details will be announced.
Now I have to pick a name for the site.

John

deathdomains.com
deadpeoplesdomains.com

Just trying to help you out. :approve:

 

[leo]

i will die? :-(

i have come to a understanding that Death is caused by swallowing small amounts of saliva over a long period of time.

 

[H2FC]

Unless your beneficiaries are knowledgeable in the domain biz here's what I suggest doing. Set-up your valuable names to renew automatically each year and then place a reasonable price on your whole domain portfolio to be sold upon your death. Make sure your beneficiary(s) understand what you are doing so that they can follow through with your plan after you are gone.

 

[VirtualT]

I'd much rather have someone I trust on the forum liquidate my portfolio than possibly have some unscroupulous broker get hold of my names, hell just think, your relos might go to "buy domains"

 

[leo]

I'd much rather have someone I trust on the forum liquidate my portfolio than possibly have some unscroupulous broker get hold of my names, hell just think, your relos might go to "buy domains"

it would be quite hard to choose yeah..i suggest you have a poll

 

[Makis77]

ok,
now u got me thinking....

 

[DNQuest.com]

Just like any other asset. You need to address how they are handled (have instructions with your will). Make sure it is mentioned in your will, and be specific. You will need to have emails, passwords, logins and registrars all written down. Also make sure you have have an up to date listing of you domains. It would be a good idea have the registrar and expiration date too.

It is something we don;t like to think about, but make sure you rkin does not lose out (or if you hate them, screw them and let them expire).

 

[AlienGG]

I don't care.

 

[fatter]

I posted this poll years ago on another forum and I will bet the same percentage dont have a back up plan it was at leat 90 percent back then, I posted it and i havent even done anything, this time I might change registration whois to my wife and I.

 

[AlienGG]

Donate it to snapnames maybe.

 

[Raider]

Unless your beneficiaries are knowledgeable in the domain biz here's what I suggest doing. Set-up your valuable names to renew automatically each year and then place a reasonable price on your whole domain portfolio to be sold upon your death. Make sure your beneficiary(s) understand what you are doing so that they can follow through with your plan after you are gone.

I like this suggestion a lot, the only problem I see is finding the right buyer to pay the price specified.

I also like what WeBuyThe.Com suggested, I'm not sure how the forming of a co. would work though. Having a Will and listing your domains, passwords etc are all good ideas, but what happens to your domains after? is your beneficiary knowledgeable to keep up with the renewals? switch parking providers if one goes under or if your account is terminated? what if you have domains that could easily fetch 10K a piece at auction and your beneficiary is contacted with a offer of 5K, would he/she know if its good offer or not? when listing your domains, it may be a good idea to place minimum amounts next to them, "Do NOT sell this for anything less than xx.xxx!" but you still have the inflation factor.

Too many questions....

I want all my domains mummified and buried with me.

:lol: :lol: :lol:

 

[GAMEFINEST]

My brother has all the info just in case i die due to alcohol intoxication....or poisoning...ha