If you suddenly died?

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?

Hmm, I’ve been putting together a package for each web design client so that if my candle blows out they can pass on all the info needed to someone else. Hadn’t thought about this situation as much, though. Are your domain name(s) and hosting paid for more than one year in advance? Otherwise, wouldn’t your sites get pulled pretty quickly? I guess you could appoint someone who knows about this stuff to help your parents. Where I come from, you need to be able to get ‘probate’ to access a person’s bank account, so ideally it would be mentioned in your will.

I’ve been thinking about the same thing as well. Only issue is that the way everything works, it’s all in my head, so documentation would be key to even continuing to let things work. I guess their only option would be to employ somebody to maintain all this stuff… Then comes the question of: How do we know that this person won’t screw them over ? :frowning: Complications.

Anyone got any clues on how to get around this ?

Also, where I come from, you can open joint bank accounts or, open a bank account with a nominee who gains control if you die or are incapacitated.

There was a recent “SitePoint Tribune” article about having written procedures in place for when you are out of the office. That may also be a good thing to do even for a one man operation. That is something I will be doing SOON.

Wow, never thought of that before.

I start writing a document right now listing all my properties, logins and important information.

I am not sure where to store it yet because these are very sensitive information.
Maybe on an USB stick stored at the bank or an attorney.

Thanks for bringing this up

StarBuG

smart question, maybe you can give someone close to you, a friend or other family member at least, a little “how-to” lesson just in case an accident should happen. Because you wouldn’t want to just give up a profitable website, it could help out your parents

That gives a bang!

I never thought of that. Why not find a “trustworthy someone” or should I say an Assistant. In that way your parents will not end up with nothing if something will happen to you. Death really is very mysterious. You will never know the schedule to your grave unlike marketing business, we always have the time set for engagements. So best to have somebody to take over but much better if it is a family member.

I have been thinking about this for years. So far my main plan, to not die, has worked but, I have no idea what would happen if I did. Like you, I have no one close to me with any web-sense.

This thought pops up once in awhile…

I have given my best-friend the ‘back-up’ access to my main accounts. I have some private web site servers where NO-ONE but myself can get into, I know if I die, half my business will die with me, the rest will survive with my lil brother.

Hopefully I live on, forever!

I did not think about it yet but I would like to teach my brother everything about them to get a consistent income after my death.

I guess the thing is, your aim is not to die. But in anycase, I hav a few people that knows roughly what I do and therefore would hopefully b able to take over things while I’m gone.

“While” you’re gone? :lol: That would be a long time if you were dead. :wink:

Reincarnation, not that I believe that.

Ah, but would you really come back to your old job? :lol:

Nope, hopefully be re-born into a family that are already millionnaires. My job doesn’t pay nothing like them figures lol.

The likelihood of someone being able to casually learn your one-man show is very low. A good estate plan will elect someone to have power of attorney over your affairs and that person should have a basic understanding of what the business is about.

In almost all cases, it’s best to liquidate these types of assets unless you are VERY confident that the sites will keep earning on their own or you really think someone you know can just take them over.

Though I never thought like this.Its really a good point,as I don’t know when would I die so for safety purpose I should prepare some backup, at least after me,this earning process would be go on.I will write all the details & shall start teaching the whole procedure of my work to my sister. :slight_smile:

Does your sister want to learn the business? will she stick with it?

Oh of course she will,she has a keen interest in this field.Basically shes a student, thats why she doesn’t have that much time,But slowly & gradually she will learn the whole theme of this business;) and look after me:(

For those that are thinking of teaching someone else your business in the event that you die, you should put some thought into how much your business is likely to change between now and when you eventually die. You might be able to get someone up to speed for how things work now, but you’ll have to keep them up to speed when things change between now and you dropping off. I don’t know about you but my business is radically different today than it was five years ago…