Death and Domains

[East Street]

Was doing some estate planning recently and the topic of domain names naturally came up.

Got some interesting insight into the concept of 'preparedness'.

1. If you die who gets your domains?

They become part of your estate, but someone has to know that you own them. Is there information somewhere that could tell your heirs information about the domains you have, including where are they are registered, when they expire, relative value, etc.

If nobody can access your domains, they could potentially be lost.
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2. Security is important domain protection while you are alive, but someone has to be able to access your accounts when you're no longer alive.

The question is: If you have multiple accounts in multiple countries, two factor authorization, and excellent passwords can your heirs even get to your accounts?

Somebody has got to be able to access your acounts in a timely manner after your demise, but have you taken steps to make it possible?
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3. How are your accounts legally held? If you hold your accounts personally and you own many domain names, you may be setting your heirs up for a big financial surprise when it comes time to transfer domain ownership upon your passing.

Mine are held in an LLC of which my heir will become the owner on my passing. Therefore the same owner will continue to hold the domains, so no transfer costs should be incurred.
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4. Do you even have a will?

If you don't have a will and you own domains (or anything) of any value, the time it takes your estate to go through the Probate process may erase your entire investment portfolio without your heirs even knowing what you had.

A will filed with your local Probate authority is incredibly easy to do. Mine was less than $200.00 from a local attorney.

 

[johnn]

I have a will. If I die all of my domains will be distributed to all Namepros members.

My wife has no idea what I am doing and she would not know what to do with the names!!!

 

[Name Trader]

@johnn - Great. Can you post a list of your domains here, with your registrar login info I have the same problem with the girlfriend

 

[johnn]

I will post the information when I am about to die.

Thank you for your concerns.
John

 

[korganian]

LOL

 

[MisterSoft.com]

Whether you live or die... If you forget to renew the domain, it goes thru redemption period and eventually gets dropped. That happens all the time. If your next of kin is aware of your domain and password and you die, that's a different story

 

[mirul]

 

[DNScholar]

At NamesCon, I think Uniregistry said they have some option to transfer the names to your nominated person if you are deceased.

 

[brindle123]

My child will be rich if she can keep the domains I have now. My wife has no clue or care about domains. She would let them all drop. I will teach my child how to manage them when she is a little older.

I keep all my login info in a little black book.

I wish my parents owned alot of great property that they could turn over to me when they pass. I think of domains as virtual real estate to be passed down to your children. I'm a long-term holder.
Imagine if your parents had bought a bunch of 3L and 3N .coms back in the day and were passing them down to you right now. I don't own anything of that caliber, but I own some great 4L.com and others that will appreciate over time.

Hopefully domains will pay for my 2nd graders college education, or make her rich enough that she doesn't have to go to college. She can just live off the domains that I have now or can acquire until then.

She will need to know how to manage the portfolio though. Maybe she'll be interested in developing all of them.

I would like everyone on NP to buy johnn a couple cartons of cigs! I'll pack your parachute if you go skydiving too, it's no trouble, it will only take a minute.

 

[johnn]

I would like everyone on NP to buy johnn a couple cartons of cigs! I'll pack your parachute if you go skydiving too, it's no trouble, it will only take a minute.

It does not work - I tried all these - My wife has been trying that for years after I upgraded my Term Life Insurance!!!!

 

[deflee79]

I don't know about y'all but im coming back! The zombie domainer!

 

[doubleU]

Shortly after I die, I will reincarnate myself as a registrar so I can get my domains back before they drop

 

[MisterSoft.com]

My child will be rich if she can keep the domains I have now. My wife has no clue or care about domains. She would let them all drop. I will teach my child how to manage them when she is a little older.

I keep all my login info in a little black book.

I wish my parents owned alot of great property that they could turn over to me when they pass. I think of domains as virtual real estate to be passed down to your children. I'm a long-term holder.
Imagine if your parents had bought a bunch of 3L and 3N .coms back in the day and were passing them down to you right now. I don't own anything of that caliber, but I own some great 4L.com and others that will appreciate over time.

Hopefully domains will pay for my 2nd graders college education, or make her rich enough that she doesn't have to go to college. She can just live off the domains that I have now or can acquire until then.

She will need to know how to manage the portfolio though. Maybe she'll be interested in developing all of them.

I would like everyone on NP to buy johnn a couple cartons of cigs! I'll pack your parachute if you go skydiving too, it's no trouble, it will only take a minute.

A visionary domainer

 

[WatchDogue]

Your questions are good questions and questions my wife and I have debated and seemingly " almost resolved".

We have all of our domain name accounts labeled and filed and with easy to follow instructions for access to the accounts including renewals.

We have a master list of domains and their " potential value " and in a few cases suggestions for specific buyers. We have indicated which specific domains should absolutely be renewed.

Also have a " family related name" we want to make certain is retained by a specific family member.

Overall domains are tough to discuss with non-domain oriented people until and unless you mention
" value ", then ears perk up.

However and it is a big " however ", we are uncertain at this moment to whom the names should be willed.

As an aside make certain provisions for your pets are part of your will, " to whom", " health records " etc.

 

[DomainVP]

I made a video tutorial for my wife in case I die. We talk domains often, and I include her as much as I can. She's not extremely tech savvy, but following the video is pretty basic.

For anyone looking to record screen videos, I recommend getting one of these compressor microphones and downloading Camtasia.